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Summer Epocalypse Countdown: Trump Turmoil Takes Top Off Trump Rally

Summer Epocalypse Countdown: Trump Turmoil Takes Top Off Trump Rally

The following article by David Haggith was published on The Great Recession Blog:

When financial Armageddon arrives, it can hit in a flash like a dangerous rogue wave — the kind that rises up when two big waves from different storms intersect and merge into a single wave big enough to capsize a ship. The global Wannacry warware attack and endless waves of Trump turbulence came together with just such damaging synergy last week, knocking the top off the Trump rally.

 

Black swans unite and strike stocks

 

S&P Futs Near All Time High On Strong Euro Data; Oil Drops On Trump's SPR Sale Plans

S&P Futs Near All Time High On Strong Euro Data; Oil Drops On Trump's SPR Sale Plans

S&P futures rose alongside European stocks as Asian shares posted modest declines. The euro set a new six-month high and European bourses rose as PMI data from Germany and France signaled that the ECB will have to tighten soon as Europe's recovery remains on track, with the German Ifo business confidence printing at the highest level on record, and hinting at a GDP print in the 5% range. Oil declined after the Trump budget proposal suggested selling half the crude held in the US strategic petroleum reserve.

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