presidential election

Submitted by Lance Roberts via RealInvestmentAdvice.com,

Last Friday the market closed below its 50-day moving average. Theoretically, such a close should have sent traders scrambling for cover Monday morning. As I noted in this past weekend’s missive:

Over the weekend, we were surprised to read that none other than recent market cheerleader Goldman Sachs had come up with six reasons why its chief equity strategist believes the market is poised for a material draw down (read "big drop") in the coming weeks. Among these were the following:

• European Stocks Fall as Chinese Economic Data Disappoint (WSJ)
• Oil Climbs to Highest Since November as European Shares Retreat (BBG)
• Yen weakens on Japan intervention talk before G7 meets (Reuters)
• Wall Street’s Bond Forecasters Splinter as Fed Credibility Wanes (BBG)
• Amazon to Expand Private-Label Offerings—From Food to Diapers (WSJ)
• Oil prices rise on Nigerian outages, Goldman forecast (Reuters)
• 'Avengers' threaten new insurgency in Nigeria's oil-producing Delta (Reuters)

McKay Coppins reports on Paul Ryan’s willingness to hew to the party line:

But those who expected Ryan’s ideological conviction to compel an audacious war against his own party’s presidential nominee misunderstood him. He has not gotten to where he is by making trouble. He is, at his core, a good soldier.

If the US presidential election has devolved into a comical soundbite free-for-fall, then the UK has its hands full with Brexit, and how the two opposing camps are approaching the UK's vote to exit the Eurozone on June 23.