Authored by Patrick Buchanan via Buchanan.org,
“More is now required of us than to put down our thoughts in writing,” declaimed Jeff Flake in his oration against President Trump, just before he announced he will be quitting the Senate.
Though he had lifted the title of his August anti-Trump polemic, “Conscience of a Conservative,” from Barry Goldwater, Jeff Flake is no Barry Goldwater.
US equity futures are higher, boosted by a bevy of better than expected earnings out of tech giants Amazon, Intel and Microsoft as Asian stocks and European shares climb amid the dovish sentiment unleashed from Thursday’s ECB update.
US equity futures and Asian shares are flat this morning with European shares treading water ahead of the ECB's policy meeting in which it’s expected to announce a tapering to its €60bn in monthly QE. On this busiest day of Q3 earnings season, companies set to report earnings include Alphabet, Microsoft, Amazon and Intel, while we also get data on jobless claims and wholesale inventories.
Share prices of Indian state banks surged as the government announced it would hand over $32bn to recapitalize the sector. According to Reuters, the motivation was a bid by Prime Minister Narendra Modi to tackle a major drag on the economy that has frustrated his attempts to boost growth.