Investors tap the brakes ahead of Fed meeting, earnings onslaught http://on.mktw.net/2acASTF
Here's what stocks have historically done during the conventions http://on.mktw.net/2aG7LpN
U.S. stocks end lower; earnings, oil drop weigh http://on.mktw.net/2aeMl5K
Stocks Slide To Worst Day In A Month After Crude Carnage, Kuroda Chaos http://www.zerohedge.com/news/2016-07-25/stocks-slide-worst-day-month-after-crude-carnage-kuroda-chaos …
Overnight from Asia , Morning/Afternoon From Europe , look ahead to New York opening.
Perhaps more worrisome in today's #oil price fall is that ULSD (the last hope for refiners) is leading the drop
Crude Crumbles To Fresh 3-Month Lows As Hedgies Unwind Record Longs http://zerohedge.com/news/2016-07-25/crude-crumbles-fresh-3-month-lows-hedgies-unwind-record-longs …
Turkey In Focus...
( More at Twitter T.L )
Not surprised.Erdogan previous ponder as to why should Turkey house & feed coup plotters for years-was informative.
Gulen rejects coup accusations, says any follower who might be involved in the coup attempt "betrayed my ideals"
Gulen says it's obvious that his trial in Turkey won't be a fair one, asks the US to resist the temptation to give whatever Erdogan wants.
Purge continues...on to Ambassadors.....
Binalı Yıldırım announces that "small" changes to the constitution may be made under State of Emergency, says larger changes in the pipeline
Thursday looks like an action packed day for the Military. Purge will be in high gear.
White House spox Earnest: claims about Gen Campbell behind the failed coup in Turkey are baseless and not worth of response.
Not much in the way of evidence to date. Confessions from possible torture victims , not going to move needle.
Purge numbers continue rising , almost 80,000 now..
Surprising admission , will fuel conspiracy theories.
Turkey detains 42 journalists in crackdown as Europe sounds alarm - RTRS
Democrat Convention / Presidential Politics ....
DNC emails give behind the scenes look at care of big donors http://www.mcclatchydc.com/news/politics-government/election/article91623012.html …
Media praises RNC after Dem convention plagued by poor coordination and logistics: http://hill.cm/olIoNWo
That is appropriate , might come too late to matter though.
Baltimore Mayor opens Dem convo #DNCinPHL
Chaos outside convention as demonstrators block entrance through sit-in
Sanders Booed After Saying Clinton, Kaine Must Be Elected
How Hillary Clinton's and Donald Trump's posititions in the polls have shifted. http://on.wsj.com/2arbpHM
National polls show 4-point swing toward Trump. If PEC used that swing Clinton's win prob. would fall to 65%. but... http://election.princeton.edu/2016/07/25/the-polls-are-always-bouncing-to-the-left-and-to-the-right/ …
Sam Wang @SamWangPhD
In past years, standard deviation of national opinion ~7%. 2000-2012 more like 3%. 2016 more like the latter so far http://elections.huffingtonpost.com/pollster/2016-general-election-trump-vs-clinton/edit#!minpct=25&maxpct=60&mindate=2014-01-01&maxdate=2016-07-10
More bad optics..
Actually, both parties have seemed in this cycle to be dueling to see who could set their pants on fire first.
Police Union throwing politicians under the proverbial bus wheels.
Witnesses said Nice terrorist yelled "Allahu Akbar" driving down Prom yet German police chief didn't consider same war cry to be relevant
Really hard to argue these attacks have "nothing" to do with Merkel's refugee policies - Syrian refugees involved.
Don't panic -while heightened security rolled out for public places/transportation and hint of Army role floated.
European Commission says reports of a seven-year brake on free movement for an EEA UK is "wishful thinking"
Monte dei Paschi drops >8% amid capital concerns before stress test. Bank -77% ytd, reducing mkt value to €919mln.
How about an "indirect flow " of the taxpayer money then ?
Estimates of potential bill facing banks , for the resolution fund that bailed out Novo Banco - €2.9bn to €3.9bn.
Good Morning from Italy, Europe's pol high risk country w/ stress test this week & referendum in Oct (Chart via BBG)
Rajoy not going to try to form a Gov't once again ?
Hollande blazing a spectacular trail of unpopularity , when compared with recent predecessors.
China MOF: 1H 2016 SOE profits -8.5%, revenue -0.1% YoY. Coal sector turned positive, Steel & Base metals sectors remain in losses.
Thanks to CAS again that #HSI closing price 21,948.94 (-15.33) becomes 21,993.44 settlement price (+29.17).
BOJ Kuroda: G20 didn't mention HELICOPTER MONEY !! Is Kuroda trying to surprise the market on Friday? Or disappointing?
Happy Monday! G20 done, PBOC weakens daily yuan fixing most since July 6th, 6.6860/USD vs 6.6669 Friday. #CNY #CNH