British MP John Mann has revealed that Members of Parliament sexually harass young employees but go unpunished as their victims feel helpless. The Labour MP made his remarks at the House of Commons’ Standards Committee on Tuesday, saying that sexual assault by politicians at Westminster was a “major issue” that needed to be addressed. Mann said “In here [Westminster], there are alleged sexual assaults by current members of Parliament and nowhere for people to go, or they don’t feel confident in going.

Having warned for nearly all of 2016 that the market is getting ahead of itself on the back of median P/E multiples that are higher than 99% of all historical reading, Goldman chief strategist David Kostin stubbornly kept his year end S&P target at 2,100 on valuation concerns.

VIX has been gapping around like a penny stock all morning with multiple slams producing an exuberant equity open (supported by soaring oil prices) but for now selling pressure is back as Oil and Stocks recouple.

Vix tails are back...

And that helped jam stocks to fresh record highs at the open...

And oil caught up to stocks...

All algos all the time.

When we looked at the latest disappointing spending data this morning, we warned that GDP would likely be weakned, however we had no idea by just how much. The answer was revealed moments ago courtesy of the Atlanta Fed, which moments ago updated its GDPNow model and said that its forecast for real GDP growth in the fourth quarter of 2016 is 2.4 percent on November 30, down from 3.6 percent on November 23.

From the report:

The much anticipated headline is out and, as Bloomberg reports, OPEC has reached a deal agreeing to cut oil production by 1.2 million barrels per day to 32.5mmbpd, according to a delegate.