presidential election

Overnight the media propaganda wars escalated after the late Friday release of an article by the Washington Post (which last week admitted to using unverified, or fake, news in an attempt to smear other so-called "fake news" sites) according to which a secret CIA assessment found that Russia sought to tip last month’s U.S. presidential election in Donald Trump’s favor, a conclusion presented without any actual evidence, and which drew an extraordinary, and angry rebuke from the president-elect’s camp.

According to various anecdotal reports, in addition to launching the stock markets on an unprecedented meltup, Trump's presidential victory has also boosted consumer confidence, leading to a spike in post-election spending.

That, however, is not only not validated by the actual data, but according to evidence, retail spending - a key component of the Trump "hope" trade - has actually slowed down.

Donald Trumps transition team have criticized claims by Hillary Clinton that she lost the election due to the “epidemic of fake news” prior to the election day. Clinton called on Congress to take action against the “epidemic of malicious fake news” and propaganda on social media during a speech on Capital Hill on Thursday. It was the second public appearance since suffering a crushing defeat at the hands of Trump in the election.

Hillary Clinton has called on Congress to take action against the “epidemic of malicious fake news” and propaganda on social media. The defeated US Democratic presidential candidate claimed that the “fake news” stories represents a “danger” to the “lives of ordinary people.” Some Democrats have argued that the online spread of anti-Clinton “fake news”contributed to her electoral loss to Donald Trump.

European and Asian shares rose again and S&P futures were little changed, as world stocks were set for a weekly gain and held near 16-month highs on Friday, while the euro steadied after swings following the European Central Bank’s decision to extend its stimulus program. Oil rose a second day before a meeting between OPEC and other major producers on output cuts, industrial metals gain.