Authored by Gene Frieda via PIMCO's blog,
Following the defeat of the new U.S. healthcare bill, investors have begun to rethink the likely time frame and extent of the Trump administration’s other top priorities, such as fiscal stimulus. Equity markets stalled and bonds rallied as investors toned down their expectations for global reflation recently.
Authored by Michael Snyder via The End of The American Dream blog,
There has been a tremendous amount of talk about the spending deal that was just reached in Congress. Most of the focus has been on who “won” and who “lost” politically, and if you have been keeping up with my articles you definitely know my opinion on the matter.
Traders were looking forward to today's "black box" earnings from Tesla as it would be the first quarterly report that combined Tesla Motors operations with a full quarter from cash-bleeding monstrocity SolarCity following the pair's merger, and would also provide much needed information about the "imminent" launch of the Model 3.
Update: If it was still a question in anyone's mind whether Facebook was really going to slow down ad revenue growth, it's not anymore. CFO Wehner was very clear in his comments.
Wehner is doubling down on the comments from last quarter that ad growth will come down "meaningfully.'' He's also maintaining the forecast of new spending of $7 billion to $7.5 billion this year, 50 percent more than last year.
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When we summarized yesterday's disappointing monthly car sales report, which badly missing expectations showing the fourth consecutive month of declining auto sales - the first time this has happened since July 2009 - we noted what may be the biggest concern for the auto industry: inventory days continued to trend higher as OEMs push product on to dealer lots even though sale-through to end customers has seemingly stalled.