Financial markets hate uncertainty. Right now we have uncertainty in truck loads.
Will President Trump be re-elected? Will the riots continue after the election? Will the administration actually do something about them after the election? Will indictments be handed down for Russiagate? Will Trump go after big-tech? Will China keep attacking America with its malign tactics? Will Trump push back harder? Will corporate America continue to appease the Chicoms? I could go on, and on, and on…
One way or another, all of the questions will be resolved very soon.
If Trump wins another term, all will be well on Wall Street (and Main Street) and markets will push to new heights. If he loses, then expect a market crash, and the end of America as we know it. We will be well on our way to becoming a corrupt oligarchy. It’s that simple.
Personally, I believe Trump will prevail in the end.
We believe in the American people in the long run. But, in the long run, we are all dead.
Financial markets are moving lower at publication after a large tech sell-off yesterday.
Continuing Jobless Claims (Sep 11) printed at 12.58M vs 12.339M consensus estimate.
Initial Jobless Claims (Sep 18) printed at 870k vs 843k estimate.
Initial Jobless Claims 4-week average (Sep 18) printed at 878.25k vs 944.077k estimate.
New Home Sales (MoM) (Aug) printed at 1.011M vs .89M estimate.
New Homes Sales Change (MoM) (Aug) printed at 4.8% vs -1% estimate.
Following released later today….
Kansas Fed Manufacturing Activity (Sep) printed at. vs -11 estimate.