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 Robert Birdge via The Strategic Culture Foundation,
Russian President Vladimir Putin has made a calculated bet that the embattled Trump administration will interpret his expulsion of hundreds of US diplomats from Russia as more of a friendly warning than an overtly hostile act.
Authored by Paul Craig Roberts,
We should be scared to death that Sally Q. Yates served as a prosecutor in the Justice (sic) Department for 27 years. In the New York Times, Sally takes high umbrage to Trump’s criticism of his attorney general, Sessions, and blows Trump’s disappointment with Sessions into an attack by Trump on the rule of law.
Sally has it backwards. The rule of law is being attacked by the appointment of a special prosecutor to find something on Trump in the absence of any evidence of a crime.
Authored by Daniel McAdams via The Ron Paul Institute for Peace & Prosperity,
At 8:30am on Friday, the BLS is expected to announce that in July the US created 180K jobs, down from 222K in June though still in line with the 6-month average of 180K, with the biggest downside risk a slowdown in durable manufacturing payrolls as auto production slumped.
Sellside expectations: