Markets.....
US....
US stocks end the session with modest gains. Dow has 8 straight record closes
WTI Futures Settle At $49.58/Bbl, Up $0.55 #OOTT
US Baker Hughes Rig Count 4-Aug: 954 (prev 958)
-Rotary Gas Rigs 4-Aug: 189 (prev 192)
-Rotary Oil Rigs 4-Aug: 765 (prev 766)
US July Jobs Report keeps alive US rate hike forecasts, #Dollar Index up as jobless rate falls. Our reaction piece: https://www.livesquawk.com/members/us_july_17_payrolls_report_-_reaction …
July Non Farm Payrolls-solidly better than expectations.June revised higher.Unemployment rate dropped last month.
Dollar jumps, Bonds drop following strong US jobs data. Labor Jul Nonfarm Payrolls +209k vs 180k exp, UR 4.3% as exp, AHE +2.5 vs 2.4% exp.
Europe....
European stocks like the lower EUR. All major indices higher.
Ireland Industrial Production (M/M) Jun: -7.50% (rev prev 3.00%)
-Industrial Production (Y/Y) Jun: -7.50% (rev prev 6.60%)
Italy Istat Monthly Economic Note
http://www.istat.it/en/files/2017/08/MR_July2017_fin.pdf?title=Monthly+report+on+Italian+economy+no.+07%2F2017+-+4+Aug+2017+-+Full+text.pdf …
Italy Markit Retail PMI Jul: 47.3 (prev 57.1)
https://www.markiteconomics.com/Survey/PressRelease.mvc/43d536790d984d8797527f86affd9457 …
France Markit Retail PMI Jul: 50.7 (prev 56.3)
https://www.markiteconomics.com/Survey/PressRelease.mvc/1f1dad1e29624c709141dd4842153fd5 …
Germany Markit Retail PMI Jul: 54.1 (prev 54.5)
https://www.markiteconomics.com/Survey/PressRelease.mvc/71438aaa33394312878c08a90e30c325 …
Eurozone Markit Retail PMI Jul: 51.0 (prev 53.2)
https://www.markiteconomics.com/Survey/PressRelease.mvc/fca0bd6d1036489087f19138535ba79d …
Italy Retail Sales (M/M) Jun: 0.60% (est 0.10%; prev -0.10%)
-Retail Sales (Y/Y) Jun: 1.50% (prev 1.00%)
Spain Industrial Output NSA (Y/Y) Jun: 3.50% (rev prev 4.90%)
-Industrial Output SA (Y/Y) Jun: 2.70% (est 2.80%; rev prev 3.30%)
Spain Industrial Production (M/M) Jun: -0.10% (est -0.20%; prev 1.40%)
Germany Markit Construction PMI Jul: 55.8 (prev 55.1)
https://www.markiteconomics.com/Survey/PressRelease.mvc/998bb3c3109e40768814081c5fb09523 …
US Politics.....
North Korea...
Some details on additional sanctions under consideration by US against NK.
One reason why NK has not hesitated in pushing forward with its nuclear program , has been predictable US responses.
Something to ponder..
Quick takeaways - NK believed to be finishing development on H bomb in 6 to 18 months , as per DoD. 1
Non Russia Foreign Policy....
Trump and France's Emmanuel Macron spoke for about an hour by phone today--about North Korea, Venezuela, Syria, Ukraine and other matters.
Swampland....
#BREAKING: Trump officially notifies UN that the US is withdrawing from the Paris climate deal http://hill.cm/V6jJmrt
Cutting out the freelancing and bickering..
Steps that Kelly has implemented are all promising - perhaps some will argue long overdue , but good signs indeed.
Mattis had to intervene in dispute between Bannon and McMaster during policy meeting: report http://hill.cm/jRC9NUG
Kelly says he won't try to stop the tweets but will block staff freelancing and control flow of junk info to Trump
Neither Hse/Senate has ok'd an adjournment resolution. Will meet in brief sessions at 3 day intervals. Bars recess appts.
Leaks Briefing .....
I think you will see quite a few people charged with leaking moving forward , based on today's briefing.
2 big takeaways : 4 already charged by DOJ for leaking ; referrals from Intel Agencies to DOJ re:leaking-exploding.
DAG Rosenstein says DOJ is in early stages of reviewing media subpoena policy, will consult w/ news execs before finalizing
This is bad. But Obama WH started the trend of targeting journalists along with leakers, according to scholars & press freedom advocates.
Most recent leaks reflect extreme disloyalty and were very embarrassing to POTUS.
Russia Related Matters...
Flynn appears to be in Mueller's crosshairs...
Graham warns Mueller: You'll be held accountable for leaks from Trump-Russia probe http://hill.cm/D03r0t0
Krauthammer: I don't support Trump, but impeaching him would be a "catastrophic mistake" http://hill.cm/8XYwPb0
Senate unanimously blocks Trump from making recess appointments http://hill.cm/DhY6gVB
Looks like Russia will oppose new UN sanctions on North Korea
Robert Mueller using grand juries in Virginia and D.C. in Trump-Russia investigation http://nbcnews.to/2vxzwxt pic.twitter.com/ChjJw54RzQ
LAVROV TO HAVE BILATERAL MEETING WITH #NORTHKOREA FOREIGN MINISTER IN PHILIPPINES IN COMING DAYS - SOURCE IN RUSSIAN FOREIGN MINISTRY: IFX
Netty In Trouble...
Something to keep an eye on...
This all may be true, but police don't indict - can only recommend indictment. Attorney General makes decision (w State Prosecutor input).
Netanyahu, at the end, says he'll continue working for citizens of Israel. He honestly looks tired/haggard.
Bibi issues fbook video. Mentions terror victim, settlement bldg, African state @ UN, security forces. Calls latest news "background noise."
Fwiw Harow reportedly got really sweet deal from authorities: No jail time, 6 months community service & fine. Netanyahu should be worried.
Ari Harrow originally investigated re his own fraud case. Police found tapes of Bibi & leading publisher favor trading in his possession.
Addendum.....
Libya...
#Libya Libyan navy rescue 698 migrants
#Misrata’s Ghwell: “Macron’s brave, but took the wrong path.”
Moderate Salem Joha: “Don’t heed the hardliners; their following is limited”
Misrata-Cyrenaica talks in Cairo end with generic statement,return of IDPs in Benghazi & Tawergha seems 1 key issue
#Libya- first pictures (via @libyaalaan) of 1st naval vessel from #Italy arriving at #Tripoli Abu Sitta - Comandante Borsini patrol vessel
#Italy invested heavily in its support of Serraj/GNA & #Italy always had the #migrationcrisis (+ oil/gas) as its focus in its #Libya policy.
Saudi Arabia...
KSA asserts fighting rebellion. Locl residents say KSA trying 2 destroy Awamiya Old City 2 force inhabitants 2 leave under rebellion pretext
It's amazing that you find very little western media coverage on KSA actions to its citizens in Al Awamiya and Qatif
Detained for protesting, then tortured, & now about to be executed.
Happening in Syria?
Nope, it's Saudi Arabia
http://www.washingtonpost.com/world/middle_east/14-saudi-shiites-convicted-of-staging-protests-are-facing-execution/2017/08/03/99d64f60-7626-11e7-8c17-533c52b2f014_story.html …
#SaudiArabia | Saudi Aramco in $2b talks to take >30% stake in #China's 260kbd PetroChina refinery - sources. WSJ. #OOTT
Syria.....
After criticizing Turkey of demographic change & allowing HTS takeover of Idlib, Khalid al-Mahamid was removed from Opp envoy at Astana talk
Syrian Arab Army captured Abu Hammad and Salim al-Hammad from Islamic State
Map: http://syriancivilwarmap.com
Deir Ezzor, Raqqa, Homs Map 04/08/17
Red: Syrian Gov
Green: Al-Qaeda & other jihadists
Black: ISIS
Yellow: YPG
Orange: Joint YPG-SAA
ISIS has been routed by the Syrian Army south of Deir Ezzor city and is now calling for general mobilization of all young men
In the map , the northern most axis is 60 KM from Deir Ezzor. At the bottom-you can see the axis that move out from Palmyra , at Al Sukhnah
Gulf Rift....
Turkey, Qatar agree to launch trade between ports
Qatar-Gulf crisis: All the latest updates http://dlvr.it/PbsZtm
The Tortured Politics behind the Persian Gulf Crisis https://goo.gl/sSAQw9 #GulfCrisis #Qatar #SaudiArabia #QatarCrisis
The easiest way is passing through Iran," economy minister told Anadolu Agency http://v.aa.com.tr/876341
Arab quartet seeks UN sanctions against Qatar http://www.english.glimpseofindia.in/arab-quartet-seeks-un-sanctions-qatar/ … via @Glimpse Of India
Turkish Economy Minister Zeybekci says more reliable, economic and sustainable routes necessary in trade with Qatar
http://sabahdai.ly/PSeNSc
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