This...
Well that didn't last long did it? Nasdaq hit a new intraday record high... But...Ugly Close though... VIX 13, S&P 2,200, and Dow 19,100 seem all that matters.
Stocks were up despite oil's tumble...
"The press has been routinely creating fake news reports to start a war," exclaims Armstrong Economics' Martin Armstrong, pointing to a recent report exposing The BBC allegedly faking news over chemical attacks in Syria...
News From The Breakaway Republics
This has come to me from the independent Donbass region. The Western media provides nothing but disinformation about this area of the world as part of the ongoing demonization of Russia.
European stocks were little changed and oil fell as investors assessed declining prospects for an OPEC deal and risks from Italy’s referendum. Asian stocks declined, while S&P futures pointed to a fractionally higher open, erasing 3 points from yesterday's drop.
Trader attention today - and tomorrow - will be focused on oil which retreated back under $47 as OPEC members failed to bridge differences on production cuts, while a rally in metals ran out of steam. The rand plunged after President Jacob Zuma survived a leadership threat.
One might think that after 92 years, some wisdom may have leaked into the brain of Zimbabwean president Robert Mugabe. But no. As the world's oldest head of state, he has overseen the demise from a post-colonial success to a pariah state wrecked by hyperinflation. However, having apparently learned no lesson from his prior experiences, The Reserve Bank of Zimbabwe has decided to print a new national currency for the first time since 2009.
As Simon Black pointed out a month ago, some people just don’t learn.