As the FT first reported yesetrday, in a dramatic development for Sino-US relations, Trump picked Peter Navarro, a Harvard-trained economist and one-time daytrader, to head the National Trade Council, an organization within the White House to oversee industrial policy and promote manufacturing.
President-elect Donald Trump has doubled down on his vow for a “total and complete shut down of Muslims from entering the United States” and dismissed suggestions he will back down from his hardline stance. Speaking at Mar-a-Lago in Florida on Thursday, Trump told reporters: “You’ve known my plans all along. I’ve been proven to be right, 100% correct. What’s happening is disgraceful.“ Trump was speaking the day after an Islamist hijacked a lorry, killed the driver and ploughed into a Christmas market in Berlin, killing at least 12 people and injuring 48.
Via ConvergEx's Nicholas Colas,
This last Morning Markets Briefing of 2016 is our quarterly look at “Off the Grid” economic indicators.
Christmas Column, 2016
Dear Donors, thank you for your support in 2016. Although you have kept me working yet another year, I find it encouraging that there are some Americans who can think independently and who want to know. As Margaret Mead said, it only takes a few determined people to change the world. Perhaps some of you will be those people.
European, Asian stocks and S&P futures all declined amid collapsing volumes, after the Wednesday drop in the S&P500, and after oil prices held losses amid an unexpected increase in supplies, as traders close out trades ahead of the holidays. Top overnight news include the imminent nationalization of Monte Paschi, the ongoing manhunt for the German Christmas market terrorist, Uber halting its self-driving car test in San Francisco, and the anti-China, anti-regulation moves in the Trump administration.