Authored by Raul Ilargi Meijer via The Automatic Earth blog,
Here’s the story in a nutshell: Ultra low interest rates mark a shift away from people’s wealth residing in their savings and pension plans, and into to so-called wealth residing in their homes, which are bought with ever growing levels of debt. When interest rates rise, they will lose that so-called wealth.
One month after Tesla surprised markets with an unexpectedly low production output of its much anticipated Model 3, delivering just 260 cars far below the 1,500 expected, which according to a follow up report from the WSJ was due to part of the car being made by hand, Wall Street was fearfully looking forward to today's earnings report despite Elon Musk's assurance that Tesla had its "all-time best quarter" for Model S and X deliveries.
According to The Wall Street Journal, President Trump has picked Jerome Powell to be the next Federal Reserve Chair.
The White House has notified Federal Reserve governor Jerome Powell that President Donald Trump intends to nominate him as the next chairman of the central bank, according to a person familiar with the matter.
The president spoke with Mr. Powell on Tuesday, according to another person familiar with the matter who couldn’t describe what they discussed.
Amid Capitol Hill hearings and rising concerns over regulation, Facebook crushed expectations in Q3 - beating top- and bottom-line dramatically and better-than-expected user growth - sending the stock price higher after-hours to new record highs.
Record highs for stocks, 10 year lows for the yield curve...