Back in mid-April, when Iran was desperate to start exporting the millions of barrels it was pumping each day out of the ground, it found it has an unexpected problem: not only did it not have enough spare tankers, but few if any shipping companies were willing to move the cargo.
There were two key reasons for this.
While Facebook's stratospheric ascent to new record highs continues, storm clouds may be gathering for the $340 billion market cap company: according to a new study by marketing intelligence firm Across the board, people are spending less time on their Social Media apps. Using SimilarWeb data on Android apps, the company looked at data from the U.S, UK, Germany, Spain, Australia, India, South Africa, Brazil and Spain and compared app data from Q1 2015 to Q1 2016, and found that in almost all countries, time spent on the 4 leading Social Media apps is down.
The political outcry from Trump's ongoing back and forth with Gonzalo Curiel, the judge overseeing the class-action lawsuits against Trump Unviersity, escalated today when following accusations of racism from democrats, as well as many top GOP leaders such as Mitch McConnell, Paul Ryan, Newt Gingrich and Sen. Ben Sasse distancing themselves from Trump's comments, a Hispanic House Democrat who represents a Texas district bordering Mexico tore into Donald Trump's attacks on the Mexican-American judge, calling them blatantly racist.
At the same time that Obama made history on May 27, when he became the first standing US president to visit Hiroshima, protests were taking place in Japan after a former marine working at a US military base in Okinawa was arrested by the Japanese police for allegedly killing a Japanese girl in April. Then overnight, an American sailor was arrested on suspicion of drunken driving and causing a crash on the Japanese island of Okinawa, in the midst of a month-long curfew placed on U.S. service members after the arrest of an American contractor on murder-related charges.
In the past month, not a day has passed without some major sellside firm (yes, that also now includes traditional bull Goldman Sachs) releasing its bearish take on deteriorating fundamentals, and urging clients to not only not buy the rally but sell into it (and as both retail and "smart money" flows indicate, this advice ha been heeded). Today it's JPM's turn. In the latest note is out of JPM's Mislav Matejka, the equity strategist presents five reasons why "upside for stocks is limited" due to numerous reasons but mostly because "global activity momentum is failing to pick up."