European, Asian stocks declined, halting a global rally that sent U.S. stocks surging to new all time highs faltered, weighing on the S&P although the index rebounded modestly after a kneejerk announcement lower overnight after Trump's National Security Advisor announced his unexpected resignation.
Brazilian President Michel Temer has announced a major crackdown on the freedom of the press in Brazil – forcing two of the nations largest newspapers to delete articles deemed embarrassing to the government. Brazilian newspapers Folha de S.Paulo and O Globo were forced to delete a news article about President Michel Temer, his wife, Marcela, and a Brazilian judge over a story about he attempted blackmail of the first lady and president by a hacker who cloned her iPhone last April.
Despite declining earnings expectations, AAPL's share price just broke above its record closing high (from Feb 2015).
As WSJ notes, the tech giant’s shares–among the most widely held and actively traded in the world–hit $133.42 moments ago, trading above their record close of $133 from February 2015. And they’re inches away from their all-time intraday high of $134.54, set in April 2015.
European and Asian stocks, S&P futures, bond yields, the dollar and commodity metals are rose, in some cases making new all time highs, lifted by the latest reemergence of the "Trump trades" as hopeful investors once again bet that the U.S. president's tax reform plans will boost economic growth and corporate profits, despite another warning from Goldman that the president's fiscal plan is about to be derailed.
Submitted by Michael Snyder via The Economic Collapse blog,
What is going to happen to society when robots are able to do just about everything better, faster and cheaper than human workers can?