Yield Curve Flattening End Of Bull Market In Stocks Is Neigh. Next crash will be ‘worse than the Great Depression.’ Theresa May’s team plot snap election to save Brexit. From reality TV to U.N., Trump to wield Security Council gavel. China summons U.S. ambassador to protest sanctions over Russia military equipment. Venezuela crisis: Chinese hospital ship docks for a week.
Wal-Mart Warns Tariffs Will Raise Prices And Tax American Businesses. Target is ‘deeply troubled’ over Trump’s tariffs. EU’s Brexit hard line angers Theresa May. Wells Fargo plans to cut up to 10% of workforce in the next 3 years. U.S. oil sanctions on Iran threaten global supplies, but a demand slowdown poses a real risk.
Sources Jeremy Siegel: The Stock Market Could Be Headed For A ‘Little Bubble’ Just Like In January. Dow jumps more than 250 points to record high as Apple rises and trade-war fears simmer down. Jack Ma recants 1M job promise on U.S.-China tensions. China announced 5% to 10% tariffs on $60 billion in U.S. goods in retaliation for import duties announced by Washington on $200 billion in Chinese goods. Both sets of tariffs are set to take effect on Sept. 24. Michael Cohen spoke to Mueller team for hours; asked about Russia, possible collusion, pardon.
Trump On Sessions: ‘I Don’t Have An Attorney General.’ Senate approves $854B spending bill. Most U.S. states lack reserves to weather next recession: S&P. Trump says he is not concerned about Manafort cooperation. EIA: US crude inventories decrease 2.1 million bbl. Oil climbs as EIA reports a 5th-straight decline in U.S. crude stockpiles.
May Cautions: Support My Brexit Deal Or Face No Deal. Trump slaps tariffs on $200 billion in Chinese goods, spares some consumer tech. U.S. trade war with China isn’t winnable, but Trump will likely claim victory anyway. Wall Street pay jumps to highest since financial crisis.
Trump Announces 10% Tariffs On $200B In Chinese Goods
U.S. imposes new $200bn tariffs on China. Trade war could become currency war depending on how China fights back.
White House under Siege
Grim warnings for White House, Republicans ahead of election. Graham: Mueller is going to be allowed to finish investigation. China is considering declining the Trump administration’s offer of trade talks. ‘Illusion’ to think states can completely prevent financial crises – Weidmann. U.S. Border Patrol agent charged in 2-week killing spree.
Trump ‘Likely’ To Announce New China Tariffs As Early As Monday: Source. Trump said to want tariffs on $200 billion of Chinese goods despite talks. The next crisis is still lurking in the financial system: ‘We never addressed the root cause.’ Trump administration to send U.S. cell phones a test alert on Thursday.
Paul Manafort Pleads Guilty, Will Cooperate With Mueller Probe. Trump said to want tariffs on $200 billion of Chinese goods despite talks. Bloomberg: Manafort’s guilty plea includes some cooperation with U.S.. Trump wants tariffs on $200 billion more Chinese goods despite talks: source. Nobel Prize winner Shiller sees ‘bad times in the stock market’ ahead. Trump ‘orders further China tariffs.’
Bob Woodward’s ‘Fear’ Sells 750,000 Copies In 1st Day, Breaks Simon & Schuster’s Pre-Order Sales Record. Kroger misses same-store sales estimates, shares fall. Oil prices fall as IEA data reveal rise in output among OPEC members. Retirees tax surprise from new law warned by IRS. There’s no way to avert the next financial crisis, warn former regulators from 2008 meltdown. UK Prime Minister May calls special meeting to discuss ‘no-deal’ Brexit. FBI Director Christopher Wray details Russia’s “information warfare” before midterms.
Washington Post: Sources Say Manafort In Talks With Prosecutors About Possible Plea. Trump will undoubtedly face impeachment, says Watergate attorney. Fed’s Brainard says an inverted yield curve won’t get in way of rate hikes. Bank ‘living wills’ won’t save financial system from a panic, Bernanke and Geithner agree.
Russia Launches Biggest Ever War Games. Oil prices climb as Iran sanctions loom; U.S. looks to prevent supply shortfall. Trump only trusts ‘much smaller’ group of aides in White House after op-ed, Donald Trump Jr. says. One million Catalans rally for independence in Barcelona. Oil rises more than 2 percent as U.S. sanctions on Iran squeeze supply. The American Petroleum Institute reportedly shows a draw of 8.64M barrels of oil for the week ended Sep. 7, vs. a draw of 1.17M barrels, the largest since early July. Report: Permian producers hedging bets in fear of pipeline shortages. Trump’s sagging approval ratings have GOP staring at worst-case scenarios for midterm elections. Government has less power now to thwart next financial crisis, says former Fed official.
Ford Not Moving Production From China To U.S., Despite Trump’s Tweet. The urgent question of Trump and money laundering. Bannon: Trump is facing a ‘coup.’ Sweden moves to the right in an election shaped by immigration. Trump official John Bolton declares International Criminal Court ‘dangerous’ and is ‘dead to’ America. Goldman bear-market risk indicator at highest since 1969: Chart. Boris Johnson says Theresa May is ‘wrapping a suicide vest around Britain’ with Brexit plan.
Bob Woodward: “People Better Wake Up To What’s Going On” In The Oval Office. Trump says he’s ready to hit China with another $267 billion in tariffs. Wall Street drops on tariff worries, with Apple in crosshairs. Trump to Apple: ‘Make your products’ in the U.S. to avoid tariffs. U.S. and China could soon prompt a ‘big slowdown’ in global growth, former bank regulator warns. Italy’s economy would struggle with ‘even a minor recession,’ former IMF director says. There’s a risk that the Fed and stock market aren’t in sync, former vice chairman warns. With Trump in crisis, Pence waits in his shadow.
China’s Record Trade Surplus With U.S. Adds Fuel To Trade War Fire. Trump ups ante on China, threatens duties on nearly all its imports. U.S. officials secretly met with Venezuelan military officers plotting a coup against Maduro. U.S. and China could soon prompt a ‘big slowdown’ in global growth, former bank regulator warns. There’s a risk that the Fed and stock market aren’t in sync, former vice chairman warns. Italy’s economy would struggle with ‘even a minor recession,’ former IMF director says.
Obama Jumps Back Into Political Fray, Calls Out Trump By Name: ‘He Is A Symptom, Not The Cause.’ U.S. adds 201,000 jobs as worker wages accelerate to nine-year high. Tesla shares plunge NINE PERCENT-after Elon Musk’s wild pot-smoking, whiskey-drinking rambling podcast and company’s top accountant quits. National Park Service edited inauguration photos after Trump, Spicer calls. Trump aants Attorney General to investigate source of anonymous Times op-ed. Wall Street drops on tariff worries, with Apple in crosshairs. ‘The EU could die’ – Macron allies fear consequences of globalist collapse, populist rise in 2019. Fed official: The fleeting impact from Trump’s stimulus is at its height right now.
Trump Demands NYT Turn Anonymous Source Over To Government ‘For National Security Purposes.’ John Kerry: ‘This is a genuine constitutional crisis.’ Trump rips searing Times op-ed from unnamed senior official. NAFTA talks make progress; U.S., Canadian officials to work into night. OPEC’s Barkindo says oil demand to hit 100 million barrels per day ‘much sooner’ than projected. Tesla bond hits record low, stock slips as investor worry deepens.
Senior Trump Official Describes Resistance Inside Administration: NY Times Op-Ed. Argentina is running out of tools to lift its plunging currency. In quick reversal, Trump threatens shutdown over border wall. Turkey begins constructing site for Russian missile system — despite U.S. warnings. French President Macron’s popularity slumps to record low in poll. Iran’s currency crashes. Shortages and fears rise.
What Exactly Has The Trump Administration Accomplished So Far? Global debt soars, along with fears of crisis ahead. Global finance ‘as vulnerable’ as in 2008: ex-ECB chief. Mueller investigation preparing to indict WikiLeaks editor Julian Assange. Mueller makes major connection, tying secret Ukrainian money to Trump inauguration. Trump Campaign aide ‘talked frequently’ with person linked to Russian intelligence.
Cafe Blast Kills Pro-Moscow Rebel Leader In East Ukraine. Mueller makes major connection, tying secret Ukrainian money to Trump inauguration. Mueller investigation preparing to indict WikiLeaks editor Julian Assange. Yemen conflict: Saudi-led coalition admits mistakes in deadly bus strike. Trump threatens to cut Canada out of trade deal with Mexico. The Ford Focus is dead in the U.S. because of Trump’s trade war. Baker Hughes: U.S. rig count up 4 to 1,048. Iran tries to save $1 billion deal with giant oil trader.
Dossier-Linked DOJ Lawyer: Steele Said Russian Intel Believed They Had Trump ‘Over a Barrel.’ Mattis could be next out of Trump’s Cabinet. Emerging-market pain is seen lasting into next year, as Argentina and Turkey lead currency crisis. Trump to skip summits with Asia leaders; Pence to attend. The cost of buying a home is rising three times faster than the cost to rent. The white hat way to protect you. The Ford Focus is dead in the U.S. because of Trump’s trade war. Nord Stream 2 construction begins in German coastal waters.
Ex-Ambassador: How Trump Has Treated Canada Is ‘The Definition Of Insanity.’ Trump says Mueller investigation is ‘illegal’, Trump-appointed Judge says he’s wrong. Iran is complying with nuclear deal restrictions – IAEA report. In secret ‘so insulting’ remarks, Trump says he isn’t compromising at all with Canada. The oil export boom Houston-Galveston exports exceed imports for the first time. U.S., Canada fail to reach a deal on rewriting NAFTA. Trump’s reported off-the-record remarks hit U.S.-Canada trade talks.
Trump Says Mueller Investigation Is ‘Illegal.’ Trump Will Fire Sessions. Labor Day gas prices hit 4-year high — and probably won’t drop much after the holiday. Argentina’s Peso plunges to record low. Report: Trump team preparing Mueller probe ‘counter-report.’ Trump threatens to pull U.S. out of WTO if it doesn’t ‘shape up.’ NYT: Trump tried to buy, bury decades of dirt from National Enquirer.
Stocks Rally To New Highs But September Could Bring Negative Shocks. World stock index at five-and-a-half-month high as tech rallies, trade fears wane. Trump, without evidence, blames China for hacking Clinton emails. Stunned beach goers watch as ANOTHER boat full of African migrants washes up in Spain before dozens of young men rush on to shore to cheers. Trump warns not to trust ‘anonymous sources’ – So does CNN’s guide to spotting fake news. FBI pushes back on Trump’s false claims about Clinton’s email server.
Alan Dershowitz: Robert Mueller ‘Gearing Up’ To Subpoena Trump. President pressures Canada on trade as he announces deal with Mexico. Trump warned evangelical leaders of ‘violence’ if GOP loses midterms: report. Trump: Facebook, Twitter, Google are ‘treading on very, very troubled territory and they have to be careful. U.S. Congress skeptical of Trump’s Mexico trade deal.
Trump Announces ‘Incredible’ Trade Deal With Mexico. U.S. crude rises 15 cents, settling at $68.87, as trade worries, rising output cap gains. World stock index at highest in over 5 months on trade deal. John McCain, in final message before death, says ‘do not despair of our present difficulties.’ Markets may be signaling rising recession risk: Fed study. Dow jumps more than 250 points, Nasdaq hits 8,000 as U.S. and Mexico strike trade deal.
John McCain: Vietnam Veteran And Six-Term Senator Dies At 81. Trump says Mexico trade deal near; NAFTA hurdles seen easing. Powell sets Fed’s course with data-based judgment. Trump’s trade policies raise alarms at Fed’s Jackson Hole retreat. Expert: ISIS’ Al-Baghdadi alive, plotting terror resurgence. Roger Stone predicts Mueller will indict Donald Trump Jr. on process crime.
The U.S. Government Is Updating Its Nuclear Disaster Plans And They Are Truly Terrifying. Trump organization could face criminal charges from Manhattan D.A. Oil prices move higher as Iran supply issue looms. Oil rises as China demand resumes, signs that Iran supply curbed. Trump’s war on the justice system threatens to erode trust in the Law. U.S. softens its demand for NAFTA ‘sunset clause’: Mexican official.
Allen Weisselberg, Longtime Trump Organization CFO, Is Granted Immunity In Cohen Probe. Trump recently sought his lawyers’ advice on possibility of pardoning Manafort, Giuliani says. U.S.-China trade war escalates as new tariffs kick in. Durable-goods orders fall for 3rd time in 4 months. S&P 500 and Nasdaq close at record highs as Netflix jumps. Trump says Pompeo won’t go to North Korea, criticizes denuclearization progress. Fed chair finally responds to Trump’s attacks over rate hikes. Manafort tried to get the U.S. military kicked out of Central Asia to help Russia.
Jeff Sessions Pushes Back Against Trump: ‘Actions Of DOJ Will Not Be Improperly Influenced By Political Considerations.’ National Enquirer boss and longtime Trump friend David Pecker gets federal immunity in Michael Cohen case. Graham: Trump will ‘very likely’ fire Sessions after midterms.
Euro Up Dollar Down, Great Trade Setting Up. Michael Cohen pleads guilty, says he paid hush money at Donald Trump’s direction. Trump: 80 percent of the press is fake news. Fed minutes show support for September rate hike, and suggest trade dispute could then force a pause. Trump didn’t inform McGahn of hush-money payments in 2016: report. Saudi Arabia has called off Aramco float, report suggests. Russia is still attacking the U.S. and trying to help Trump.
Michael Cohen, President Trump’s Former Longtime Personal Attorney, Reaches A Plea Deal. Trump demands Fed help on economy, complains about interest rate rises. Dallas Fed’s Kaplan sees three or four more rate hikes to get to neutral. Dollar falls, emerging markets rally after Trump’s Fed attack. S&P hits record high, equals longest-ever bull run. Dallas Fed president says three or four more rate hikes then ‘assess’ course ahead. Paul Manafort found guilty in federal trial.
Trump Lawyer Rudy Giuliani: Truth Isn’t Truth. Democrats’ chances of regaining House are improving but it’s no sure bet. James Comey: ‘Truth exists and truth matters’. China shifts to Iranian tankers to keep oil flowing amid U.S. sanctions: Report. Mike Mullen: Trump revoking security clearances reminiscent of enemies list during Nixon, McCarthy era. Cautious optimism for U.S.-China trade talks lifts shares. U.S. offers 11 million barrels of oil for sale from strategic reserve.
Retired Adm. William H. McRaven Blasted The President For Revoking Former CIA Director John Brennan’s Security Clearance This Week. Michael Hayden says he, too, would be honored if Trump revoked his security clearance. Erdogan vows Turkey will not be cowed by US. Trump revokes John Brennan’s security clearance for “erratic” behavior. Trump compares Mueller probe to McCarthyism. Greek bailout ends, but fears remain for eurozone debt. Hayden: WH-Intel community relationship in danger of being ‘permanently broken.’
Mortgage Rates Tumble As Housing Starts To Drag Down The Economy. Trump asks SEC to mull half-year corporate filings. Prisoners striking in 17 states over prison conditions. Bannon: If Trump knew about Trump Tower meeting ‘you have to question it.’ Dozens of intelligence officials slam Trump for revoking security clearances from his critics. Maduro orders 96 percent devaluation in hyperinflation-stricken Venezuela. Ex-CIA Director John Brennan: Trump is ‘drunk on power.’ White House counsel McGahn cooperated ‘extensively’ with special counsel probe.
Trump Backs CEOs, Proposes Easing Corporate Reporting Rules. Wal-Mart posts biggest U.S. sales rise in a decade, shares soar. Russian oil industry would weather U.S. ‘bill from hell.’ Turkish firms and government face $3.8 billion bond crunch.
Trump Says He Is In ‘No Rush’ To Renegotiate Nafta. U.S., China to resume trade talks as tariffs bite. Ex-Trump aide Manafort had ‘huge dumpster of hidden money,’ jury told. Newspapers across U.S. rebuke Trump for attacks on press. Worst case Trump-China trade war could sink stock market 20%: Professor Jeremy Siegel. Larry Kudlow to Trump Cabinet: China’s ‘terrible’ economy ‘heading south’ Munchin says. Turkey faces more sanctions if Pastor not released.
Stocks Tumble; Emerging Markets Hit As Dollar Rises, Yuan Falls. Qatar pledges $15 billion investment in Turkey amid crisis. Mueller probe doesn’t need to shut down before midterms, officials say. Paul Manafort could spend the rest of his life in prison.
Omarosa Says She Will Provide Mueller With Tapes If He Needs As She Claims. Trump knew in advance that Wikileaks was publishing Hillary Clinton’s emails. FBI warns banks about potential ATM hacking scheme. Turkey’s crushing annual inflation rate is running at an estimated 101%. Bank sped up Manafort loan approval as CEO sought Trump cabinet job: witness. Manafort’s lawyer: Government did not meet burden of proof. Fed is no longer worried about every market hiccup, economist Lavorgna says.
Turkey’s Currency Crisis Is Rattling Europe Bank Stocks And The Euro. Merkel and Putin to hold talks on new Baltic pipeline and Syria. Consumers turning more pessimistic about wages, stocks, home prices, taxes. Citigroup says global card chief Linville leaving in shakeup. Cash machines could be mass-hacked in global cyber attack, FBI warns.
A Move In Crude Oil To $50 Could Come As Quickly As A Surge Above $100, Says Veteran Oil Investor. Seattle-Tacoma plane hijacker ‘had full airport credentials.’ Plane thief said he trained on games, didn’t plan to land. Top U.S. Gen. warns: Islamic State in Afghanistan ‘harboring intentions’ to attack west.
ECB Fears Contagion From Turkish Lira Collapse, Bank Stocks Plunge. Italy should scrap balanced budget clause in constitution – Di Maio. Trump will fold if Mueller calls his bluff. Giuliani is the tell. Stolen plane crashes after unauthorized takeoff at Seattle airport: Officials. British mother jailed in Dubai with four-year-old daughter over wine and visa row. Man who stole doomed plane hoped there was life sentence for what he did.
Lira Collapses As Erdogan Tells Turks: They Have ‘Their Dollars,’ We Have ‘Our God.’ European shares tumble as Turkish turmoil hits banks. Traders are expecting a big stock market move soon: ‘There are a lot of bets across the table.’ Half of Americans see market swings as opportunities to cash in.
U.S. Mid-Term Elections: Women Break Records For Nominations. WikiLeaks: Senate wants Julian Assange to testify about Russia, and it just might happen. Dems out-performing in special elections by 8 percent. U.S. finalizes next China tariff list targeting $16 billion in imports. Russia slams “unacceptable” new U.S. sanctions. Italy’s economy minister sees higher deficit.
Oil Prices Drop On China Import Data, Weighing On Equities. Iran’s foreign minister: U.S. will not stop Iran oil exports: newspaper. China to slap additional tariffs on $16 billion of U.S. goods. EIA: U.S. crude inventories decrease 1.4 million bbl. Over $9 billion wiped off bitcoin’s value after SEC postpones key decision on a cryptocurrency ETF. U.S. sanctions threat hurts Russian banks, rouble.
Star Witness Gates Testifies He Committed Crimes With Manafort. National debt is about to roar back to life as a pressing issue. China has outspent the U.S. by $24 billion in 5G technology since 2015, study shows. Oil rises after OPEC sources say Saudi crude output fell. Michael Cohen under investigation for possible tax fraud. This report of Trump’s commerce secretary stealing $120 million makes perfect sense.
Trump Signs Executive Order Issuing Sanctions On Iran Including Oil. U.S. is set to implement more sanctions on Iran, others to follow on Nov. 4. U.S. sees sanctions having significant impact on Iran economy – U.S. officials. U.S. wants as many countries as possible to stop buying Iranian oil. New wave of mega LNG projects is approaching. Oil gains after surprise drop in Saudi crude output. British pound at 11-month low versus dollar as Brexit fears flare up.
Iran Guards Says It Held Gulf Drills As U.S. Tensions Rise. Trump changes rationale behind son’s controversial 2016 Trump Tower meeting, but calls it ‘totally legal.’ Sen. Rubio: Allowing Mueller to finish Is ‘best’ for all. Trump voicing concerns about son being entangled in Mueller probe.
Saudi Arabia To Resume Oil Exports Through Red Sea Lane. U.S. warns Russia, China and others on enforcing North Korea sanctions Chinese tariffs on LNG. Oil aim at U.S. energy dominance agenda. Gold ends at more-than-1-year low as dollar shifts higher for the week. Trump’s reluctance to call out Russia for interference muddies U.S. response. Some Republicans worry Trump is muddling midterm strategy. Wells Fargo says mistake led to hundreds of foreclosures.
Iran To Practice Blockading Strait Of Hormuz As Saudis Say Mandeb Strait Is No Longer Safe. Crude oil prices gain in volatile week. New jobs report indicates Trump’s ‘best economy in history’ isn’t all it’s cracked up to be. Trump administration adds to China trade pressure with higher tariff plan. Bond yields, stocks fall as trade fears spread to Europe. Gold ends at more-than-1-year low as dollar shifts higher for the week. Reality check: Trump’s reluctance to call out Russia for interference muddies U.S. response.