Politics

A police sharpshooter accidentally opened fire during a speech by French President Francis Hollande, injuring two people in the process, AP reported. The incident happened on Tuesday afternoon in Villognon, Charente in western France where Hollande was preparing to reveal the LGV high speed rail line, when a shot was clearly heard in the background of event, prompting the French president to stop and look around concerned.

"It's T-Day" as one trader put it this morning. President Trump will address a joint session of Congress Tuesday night for the first time as president in a much anticipated speech with a lot of hyped-up hope hanging on it.

As The Hill notes, the speech isn’t an official State of the Union - that will come next year - but it’s a chance for Trump to set out his legislative priorities after a tumultuous first month that has at times rattled congressional Republicans.

After previously announcing plans to withdraw at least $15 billion to fund 2017 budget deficits, the $860 billion Norwegian sovereign wealth fund announced last December that it would change it's portfolio allocations to try to make up for the withdrawals.  The change would eventually result in 75% of the fund's capital being allocated to global equities, up from the previous 60% allocation...you know, because equities never go down so more is always better.

In a note by Evercore ISI's Terry Haines and Ernie Tedeschi, the analyst duo pours cold water on Trumps' budget proposal before it has been even formalized and confidently predicts that "Trump budget not happening" adding that the most likely outcome is that "Congress will modestly hike defense and non-defense spending."

Below is a summary of their thinking:

In an interview with Fox & Friends that aired early Tuesday morning, President Trump blamed former President Obama for protests against him and other Republicans, as well as "possibly" some of the leaks from the White House: “I think President Obama’s behind it, because his people are certainly behind it."