Submitted by Pedro Nicolaci da Costa via The Peterson Institute for International Economics,
Are investors so focused on Dow 20,000 that they've become complacent about the true risks of Donald Trump's vows to tear up trade agreements, erect 17 commercial tariffs, and deport millions of immigrants?
The Washington Post is very disappointed...
The Dow tried (and failed) 8 times...
So far, Putin has prevented 6 intraday attempts at Dow 20,000
— zerohedge (@zerohedge) January 6, 2017
Here is how Bob Pisani explained it...
Via Dana Lyons' Tumblr,
One of the few indices yet to break out, the NYSE Composite is threatening its all-time highs.
Rumors of the Trumpflation rally's death have been greatly exagerated, and not only is the Dow 20,000 back on the radar, following a 124 point surge in Dow futures, bringing the "key psychological level" back within 100 points, but European stocks rose for a third day and entered a bull market, rising 20% from theor lows set last February, following strong Chinese manufacturing and services PMI data, both of which ended 2016 on robust notes well inside expansion territory.
2017 is off to a good start if you are holding Bitcoin as volumes continue to surge through Chinese Bitcoin exchanges amid fears of increased crackdowns on foreign exchange transfers in the new year. In the last 24 hours, BTC China has seen prices spike above 7,100 yuan (well over $1000 at the onshore rate exchange) as Bitstamp reports prices over $990.
Bitcoin in China topped 7,100 this morning - and with USDCNY at 6.945, that is over $1000...
Though it is not quite there in dollars...