Via ConvergEx's Nicholas Colas,
With yesterday’s impressive equity rally, every trader is asking the same question: “Can U.S. equities go green on the year?” The S&P 500 is now down “just” 3.2% in 2016 and there’s nothing like a +2% one-day rally to hold out hope of actual gains before March 31.
“To make America great again, what’s the first thing that comes to mind?”
A person from the back of the hall—no doubt a college student—shouts “Biscuits!”
That was the kind of irreverent fun I was looking for at a Trump rally, and in fact was the high point of the event, taking place long before the candidate himself appeared on stage. (The correct answer was “Immigration.”)
After surprisingly jumping in December, ADP's employment report fell back to a more normal 200k ish level in January and now in Feb it rises once again to 214k (from 193k in Jan - revised down from 205k - and better than expectations of 190k). Manufacturing jobs, according to ADP remain relatively flat for the last year (down 9k in Feb - the second largest drop in 5 years), despite a collapse in ISM Manufacturing's Employmet index.
It was a “super” Tuesday indeed for Donald Trump and Hillary Clinton who both moved closer to securing the nomination for their respective parties yesterday evening.
Trump won 7 out of eleven states in what he called “an amazing evening.” The billionaire and presumptive nominee took Georgia, Alabama, Tennessee, Massachusetts, Arkansas, Virginia, and Vermont in what amounted to a rout of the field.
“I feel awfully good,” he told reporters in Florida.
As early predicted results come in on Super Tuesday, Democratic presidential candidate Senator Bernie Sanders looks to have notched up the Vermont Democratic primary in his home state. A revolution is brewing in America as Sanders hopes to bring Vermont’s values to the rest of the 35 states that are up for grabs after tonight’s primaries. Early results are showing more potential victories for Bernie Sanders before the night is over, while the establishment media covering Super Tuesday are talking about a ‘Clinton versus Trump’ presidential race.