S&P futures were fractionally lower from yesterday's record high as European stocks declined and Asian stocks were mixed, pressured by yesterday's 5% plunge in crude after OPEC unexpectedly "failed to surprise" markets, and announced the bare minimum supply cut extension that was expected by oil traders, who in turn puked long positions.
Authored by Wayne Madsen via The Strategic Culture Foundation,
It seems the way to expose the true rage lurking just below the surface of an increasingly disavowed American public is 1) hold a general election, or 2) jam them into a metal tube traveling at 30,000 feet.
* * *
For the umpteenth time in recent weeks, video has surfaced of a brawl on a plane. The fistfight, between two men aboard a Southwest Airlines flight on Sunday, took place as the aircraft was taxiing to a terminal at Hollywood Burbank Airport for a layover.
With all eyes on crude, following last night's mini flash crash which sent WTI lower by 3% from just above $45 to under $43 in under 10 minutes, equity markets, generally quiet overnight, have taken on a secondary importance ahead of today's key risk event, the April payrolls report (full preview here). In global equities, Asian and European stocks are lower, while S&P futures are little changed.
Following the ridiculously round number demands of EUR100 billion ransom to leave the EU, UK PM Theresa May has stated that EU officials have issued threats against The UK as Europe's negotiating stance has toughened. Furthermore, May accuses EU countries of trying to maliciously influence UK general election result.