It's FRIDAY!! The NASDAQ and the S&P500 both ducked the better part of a % yesterday in strong trade. The pundits say it was 'Euro-problems' but I say it was the 'unexpected' strong GDP growth: up +1.4% (they only expected +1.3%). Ah. Along w/ that came news that inflation's picking up 2.3% --over the Fed's 2% speed limit.
Today's lineup:
8:30 AM Personal Income
8:30 AM Personal Spending
8:30 AM Core PCE Prices
9:45 AM Chicago PMI
10:00 AM Michigan Sentiment - Final
Let's see what today's PCE (Fed's favorite inflation index) says. Gold and silver continue slogging, at $1327.16 and $19.31. Stock index futures -0.26%, metals -0.17%.
Must reads:
Businessmen Must Start Defending Themselves - Cliff Asness, City Journal
What If Trump Is Right About a Bond Mania? - Nigam Arora, MarketWatch
How to Protect Business from President Trump - Geoff Colvin, Fortune
Mr. Trump: I Have a Tax Deal for You - James Stewart, New York Times
How Will Robo Advisors Influence Investing Future? - John Divine, U.S.N
Gold Is Money Because It's Plentiful, Not Scarce - Nathan Lewis, Forbes
Banking Really Hasn't Changed Much Since the Panic - Jeff Snider, RCM
ObamaCare Death Spiral: Even Blue Cross Plans Bail Out - Editorial, IBD
CA's Moral Superiority Complex - Steven Greenhut, The American Spectator
Liberals rejoice over legalization of child prostitution in California