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• Futures slightly higher after Dow's record run (Reuters)
• Tillerson says U.S., Russia can settle differences (Reuters)
• Hot-Stock Rally Tests the Patience of Value Investors (WSJ)
• ‘Good Conservative’ Grassley Ramps Up His Panel’s Trump-Russia Probe (BBG)
• Brands Strike Back: Seven Strategies to Loosen Amazon’s Grip (WSJ)
• Oil slides from nine-week highs as market looks to OPEC (Reuters)
• BlackRock, Vanguard Say Bond Market's Got This Trade All Wrong (BBG)
• Bond Bears Balk at 'Trade of Decade' (BBG)

The Saudi regime is in the midst of an extreme and brutal crackdown against its own citizenry in the country's Eastern province - a situation now spiraling out of control with rising civilian deaths, entire neighborhoods turned to rubble, and new reports that water and electricity have been cut to the now completely besieged town of Al-Awamiya. Though local activists continue to upload shocking ground level videos to social media revealing that entire districts have been leveled, international and US media have remained largely silent.

It took stocks only a few minute to "price in" the latest political shock out of Washington, and as of this morning Emini futures no longer care that Mueller has a grand jury, trading 0.08% in the green with European stocks and Asian shares all little changed as investors await the looming July jobs report, which is expected to show a slowdown in hiring from 222K to 180K but will have little impact on either the Fed's thinking or the market.

Authored by Denis MacEoin via The Gatestone Institute,

Two days ago, we were the first to point out that in a striking case of data revisionism, the Bureau of Economic Analysis, in an attempt to retroactively boost GDP, revised historical personal incomes lower, while adjusting its estimates of personal spending much higher, resulting in a sharp decline in personal savings, which as a result, was slashed from 5.5% according to the pre-revised data, to just 3.8%, in one excel calculation wiping out 30% of America's "savings", and cutting them by a quarter trillion dollars in the process, from $791 billion to $546 billion, a level last seen just