At the end of Wynn's Q1 conference call, CEO Steve Wynn went on an epic tirade focusing initially on short sellers then shifting into a fascinating, and detailed, explanation of how HFTs manipulate his stock. What he explained happens to his stock when HFTs attempt to deceive traders, is what we have said ever since 2009.
Here is the key excerpt from his conference call transcript.
Moments ago it was Goldman, and now here is Bank of America, which until today had expected at least two hikes in 2016 but following "a string of disappointing data", it too has thrown in the towel.
From the otherwise very cheerful Ethan Harris, so cheerful in fact that he forecasts no recession over the next decade.
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Fed call: it is a story for September
Well that escalated quickly.. After 3 VIX-smash saves this week, the selling pressure won (for now) as a dead-cat-bounce after the dismal jobs data has sent S&P 500 back into the red for 2016 (joining Nasdaq and Small Caps) with Dow and Trannies getting close...
The bounce is dead...
After 3 VIX-smashing saves...
But Bonds & Bullion lead the way since The Fed's rate hike...
The pain for specialty pharma companies continues.
Yesterday afternoon, Endo International PLC - an "Irish" company that was one of the last tax inversions completed before the Treasury cracked down on the practice - reported not only that its losses deepened in its latest quarter, pressured by an asset impairment charge, but also slashed guidance citing higher competition and lower generics pricing.
Submitted by John Mauldin via MauldinEconomics.com,
GDP growth has only two basic components: growth in productivity and growth in the workforce size. That’s it. There are two and only two ways you can grow an economy: increase the (working-age) population or productivity.