presidential election

The biggest catalyst for overnight markets, first reported on this site, was the announcement by Kuwait that its oil workers had ended their strike which disrupted oil production in the 4th largest OPEC producer for 3 days cutting it by as much as 1.7 mmb/d, and had served to offset the negative news from the Doha debacle. Kuwait Petroleum also added that it would boost output to 3m b/d within 3 days, which in turn has pressured the price of oil overnight, and the May WTI contract was back to just over $40 at last check, sliding 2%.

Dan Drezner considers the possibility that some Republican policy elites could start moving to the Democrats, but remains skeptical:

The thing is, that polarization has been going on for four decades now. Elites within the major political parties of 2016 are more ideologically distant than they were in, say, 1971. Indeed, this election cycle has exacerbated that polarization at the presidential level. So disaffected GOP intellectuals would have to travel a much longer ideological space to feel comfortable as Democrats.

Submitted by Lance Roberts via RealInvestmentAdvice.com,

Is The Bull Market Back, Or Is It A Trap?

I wish I had a more definitive answer for you this week, but the market is standing at the proverbial “crossroads” of bull and bear.

Facebook is aggressively pushing back on the idea that it could (or would) tilt the scales in the presidential election against Donald Trump.

After CEO Mark Zuckerberg publicly denounced the political positions of Donald Trump’s presidential campaign during the keynote speech of the company’s annual F8 developer conference...

Submitted by Mike Krieger via Liberty Blitzkrieg blog,

Asher Edelman just penned a powerful endorsement of Bernie Sanders in the The Guardian titled, I’m the real-life Gordon Gekko and I support Bernie Sanders.

So who is Asher Edelman? According to the paper: