United States

The Iranian parliament has given preliminary approval to a bill requiring the government to sue the US for the damage that the country suffered as a result of the hostile moves by the United States over the past 63 years. According to an IRNA news agency report, the Iranian parliament conducted a preliminary voting session in Tehran on Sunday Sputnik News reports: The bill calls on the government to take legal action against the US government in an international court.

Less than a week after Reuters broke the story that the Department of Justice is probing HFT powerhouse Citadel, which admits it executes 35% of all trades by retail investors in U.S.-listed stocks, whether it is also frontrunning those orders (an allegation that many are convinced is a rock-solid fact) we find that billionaire Ken Griffin is not at all concerned about the outcome of the investigation on his core business model and is instead expanding.

One of the most popular apps these days is Snapchat. It allows the sender to set a timer for any photo dispatched via the app, so that a few seconds after the recipient opens the message, the photo is automatically deleted. The evidence of what you did at that party last night is seen and then disappears. POOF!

After last week's key event, the retail sales number, which the market discounted as being too unrealistic (and overly seasonally adjusted) after printing at a 13 month high and attempting to refute the reality observed by countless retailers, this week has a quiet start today with no data of note due out of Europe and just Empire manufacturing (which moments ago missed badly) and the NAHB housing market index of note in the US session this morning.

The main risk over the weekend was that markets, which have now dropped for three consecutive weeks the longest negative streak since January, would focus their attention on the latest batch of negative Chinese economic news released over the weekend, which missed expectations across the board, most prominently in Retail Sales (10.1% vs. Exp. 10.6%, down from 10.5%) and Industrial Production (6.0% vs. Exp. 6.5% down from 6.8%), and following Friday's disappointing new credit loan data, would sell off as the Chinese slowdown once again becomes a dominant concern.