Share This Post

Business / Business Education / Finance / Money / Personal Finance

Opening Bell: 9.6.18

Opening Bell: 9.6.18

Trump Lashes Out After Reports of ‘Quiet Resistance’ by Staff
Video [NYT]
The surreal struggle between Mr. Trump and at least some members of his own team has characterized his tenure from the beginning, but it spilled into public view this week in a way that raised questions about the president’s capacity to govern and the responsibilities and duties of the people who work for him.
An Op-Ed article by an unnamed Trump administration official published by The New York Times on Wednesday claimed that “unsung heroes” on his team were “working diligently from within to frustrate parts of his agenda and his worst inclinations.” It came a day after reports about a new book, “Fear,” by Bob Woodward of The Washington Post, revealed efforts by aides to surreptitiously block the president when they believe he may be acting dangerously.

U.S. jobless claims fall to near 49-year low [Reuters]
nitial claims for state unemployment benefits dropped 10,000 to a seasonally adjusted 203,000 for the week ended Sept. 1, the lowest level since December 1969, the Labor Department said on Thursday. Data for the prior week was unrevised.
Economists polled by Reuters had forecast claims rising to 214,000 in the latest week. The Labor Department said claims for California, Hawaii, Kansas, Maine, Puerto Rico and Virginia were estimated because of Monday’s Labor Day holiday. That could have exaggerated the decline in claims last week.

Cryptocurrencies collapse after report Goldman is rolling back trading desk plans [CNBC]
Bitcoin prices continued their sell-off early Thursday, following a report that Goldman Sachs was dropping its plans for opening a trading desk for cryptocurrencies.
The world’s largest digital currency fell about 10 percent to a low of $6,279.08 as of 8:30 a.m. ET, according to data from CoinDesk. Bitcoin has lost roughly $1,000 of its value in the past 48 hours.
The price of other cryptocurrencies also plunged, according to industry tracking site CoinMarketCap. The price of ether fell 13 percent, XRP was down by 6 percent, and bitcoin cash dropped by 12 percent over a 24-hour period.

Investors Weed Out Weakest Links in Emerging-Market Tumult [WSJ]
The MSCI Emerging Markets Index has dropped by almost a fifth since its January high, hovering on the edge of a bear market, commonly defined by a fall of 20% or more from a recent high.
“My fear of contagion is that right now the sentiment towards the whole emerging-market spectrum is very fragile,” said Mario Castro, a Latin America currency strategist at Nomura.

Bombshells Left and Right Make Focusing Impossible: Taking Stock [Bloomberg]
There’s no doubt that the traders’ focus is all over the place, from the bloodbath in emerging markets that’s led to multiple contagion warnings to the jitters over a $200 billion tariff slap on Chinese imports now that the public comment period deadline is coming to a close to the back-and-forth negotiations on the new Nafta pact to the exponentially increasing worries over tech regulation and the ensuing spillage in the sector (Netflix and Twitter both pulled back by more than 6% on Wednesday) to a 170-page report from Marko Kolanovic and nearly 50 other analysts at JPMorgan about an upcoming “great liquidity crisis.”
And of course, add in whatever the heck is going on with that anonymous op-ed in the New York Times that caused Trump to tweet one simple all-caps question: “TREASON?” — this’ll be a hot political topic for days/weeks, as if we didn’t have enough, though unlikely a market mover unless some massive reveal or action gets taken. But until then, those who are so inclined are now able to wager on who may have authored the opinion piece. Yup, the website MyBookie is giving odds on 18 people, including -150 on Pence, +200 on Betsy DeVos, +400 on Pompeo, Mnuchin, and Kelly, in addition to the “field” getting -300.

Man’s penis stung by stingray while swimming in the sea – and creature is still attached when help arrives [Mirror]
A man was left in agony after his penis was stung by a stingray when he was swimming in the sea.
The man was left rolling around on the sand in pain after the animal’s barb hooked onto his genitals.
When he crawled back onto the beach in Sanya in China’s Hainan province, the stingray was still attached.

Share This Post

Leave a Reply