Breaking news, updates, and reports on current events.
by Michael Snyder The U.S. trucking industry has not experienced a downturn of this magnitude since the last financial crisis, and this is one of the clearest signs yet that the U.S. economy is steamrolling into a severe economic downturn. When economic activity is increasing, the trucking industry sees rising demand for their services and freight … Read more
Wolf Richter wolfstreet.com, http://www.amazon.com/author/wolfrichter Draghi’s shenanigans get hilarious, months before his term ends. So here’s ECB President Mario Draghi, whose term ends in October, and he’s at the ECB Forum in Portugal, and in a speech on Tuesday titled innocuously, “Twenty Years of the ECB’s monetary policy” – so this wasn’t a press conference after an ECB … Read more
by Michael Snyder The wettest 12 months in all of U.S. history was followed by the second wettest May on record, and for some parts of the Midwest the month of June will be even worse. Some portions of Ohio and Indiana have gotten 10 more inches of rain since Friday, and more rain is literally … Read more
by visualcapitalist Cities are what keep the global economic machine humming. Over 80% of the world’s economic output is derived from activities in cities – and more specifically, it’s estimated that 60% of GDP growth occurs in just the top 600 urban centers. Given the above, it’s fair to say that the destiny of humankind is … Read more
by Nathan-T1 Notes on last week: Ended up not seeing the dip I was hoping for to start off last week but some red candles early on made it worthwhile to be short at open. I was hoping for a gap fill to 285 to start off last week but as I mentioned here: https://www.reddit.com/r/wallstreetbets/comments/bzwqgf/what_are_your_moves_tomorrow_june_13/eqy9fza?utm_source=share&utm_medium=web2x I started … Read more
(Bloomberg) — The White House explored the legality of demoting Federal Reserve Chairman Jerome Powell in February, soon after President Donald Trump talked about firing him, according to people familiar with the matter. The White House general counsel’s office weighed the legal implications of stripping Powell of his chairmanship and leaving him as a Fed … Read more
business insider Beyond Meat’s post-IPO rally surges to more than 680% as short sellers lose hundreds of millions (BYND) Carmen Reinicke Jun. 18, 2019, 08:48 AM beyond burger Leanna Garfield/Business Insider Beyond Meat gained more than 15% in pre-market trading Tuesday. The jump in shares extended a rally from news of a newly announced ground … Read more
via teslarati: SEC filings from noted Tesla short Jim Chanos’ Kynikos Associates LP has shown that the prolific short-seller’s fund is long $420,000 on TSLA call options. While Kynikos’ Form 13F filing did not provide any information about Chanos’ short bet against the electric car maker or the call options’ strike price, the filing does give the impression … Read more
via Businessinsider: Tesla CEO Elon Musk said in a May 22 email to the electric-car maker’s employees that they needed to consistently produce 1,000 Model 3 sedans per day for the rest of the second quarter to set a record for vehicle deliveries in one quarter. According to documents that describe the daily output rate for one segment of Model 3 production, … Read more
by MikeThePutz From S3: BYND short interest is $920 mm; 5.42 mm shares shorted; 46.23% of float; 82.10% borrow fee & beginning to rise again with new stock borrows going at over 90% fee. Shorts are down another $54 million in mark-to-market losses, YTD loss is now $620 million. I have no clue … Read more
This market is so retarded. h/t WSB
https://arstechnica.com/tech-policy/2019/06/federal-bill-would-allow-clean-energy-companies-to-structure-like-oil-companies/ Last week, US senators and representatives introduced bills in the Senate and the House to open up a type of corporate structure originally reserved for oil, gas, and coal companies to clean energy companies. Called a Master Limited Partnership (MLP), the structure currently allows fossil fuel companies to take advantage of lower taxes placed … Read more
via @chigrl: Cumulative buying/selling of US equities, % Market Cap $ES_F $SPX
via MarketWatch: There are growing signs that U.S. home prices are no longer rising. If this is indeed the case, now is the time for sellers or prospective sellers to take a good look at the state of housing markets around the country. To make smart decisions, home sellers as well as buyers need to find … Read more
Signs Mounting the Economy Is Heading for Severe Slowdown It’s not just the bond market that’s signaling a severe economic slowdown. Also, Boris Johnson has failed to charm currency traders. If there were no trade conflict between the U.S. and China, would it be necessary to invent one? In other words, would it be possible to … Read more
via mishtalk: Elizabeth Warren and Donald Trump are wrong together on at least one thing: Both want the dollar to collapse. Active Management Warren proposes “actively managing our currency value” to promote exports. The left-wing Economic Policy Institute embraced the idea in this NYT Op-Ed: Warren’s Radical Plan to Fix the Dollar. Ms. Warren and Donald Trump … Read more
via Yahoo: The results of Bank of America Merrill Lynch’s latest fund manager survey (FMS) are “the most bearish” since the financial crisis. During the month of June, the average fund manager flipped from overweight global equities to underweight. Specifically, a net 21% of fund managers were underweight, the lowest level since March 2009. That … Read more
global trade war continues to deepen pic.twitter.com/Wv2QNOwtLZ — Alastair (@StockBoardAsset) June 17, 2019 Wow! #Singapore's electronic #exports, often seen as a bellwether for the global economy, fell a massive 31.4% in May, the most in more than ten years! pic.twitter.com/YNK8PYNj4G — jeroen blokland (@jsblokland) June 17, 2019 pic.twitter.com/cZ49dmmN7D — Alastair (@StockBoardAsset) June 17, 2019 https://t.co/pRWSLNsyBG … Read more
Draghi Unleashes Global Chaos With Preview Of More Stimulus, Prompts Angry Response From Trump https://www.zerohedge.com/news/2019-06-1…onse-trump In Unprecedented Attack, Trump Accuses Draghi Of Manipulating Euro Update: Trump isn’t letting this go, and is now attacking Draghi because European stock markets rallied on Draghi’s stimulus remarks, which isn’t “fair” for the US. European Markets rose on comments … Read more
The economy is slowing down. But who is willing to actually admit it? The statistics are there. But instead, let’s talk about tech stocks and how they will never go down. Oh they dropped a bit? Buy the dip, they will “always” go higher. This is the insanity of the Fed easy monetary policy and … Read more