Tarmac Troika to topple Tariff Tantrum

As I wrote the last two days, here and then here, the Gary Cohn departure from the White House would be a non event as far as market reaction.

I am told that this event will also be lost in Washington as far bigger news will come out over the weekend. Continue reading

Advertisements

Trump’s winning, but scorekeepers give no credit

Well, the Tariff Terror was short-lived when it comes to the stock market.

The Dow shot up 336 points on Monday, with another 150+ points in Tuesday’s pre-market futures.

The breaking news of North Korea seeking face-to-face peace talks with the US also takes stock market threat level down a few notches.

The first news reports out of South Korea that North Korea is willing to give up its nuclear weapons if the safety of Kim Jong Un’s regime is guaranteed, give little credit to the Trump Administration for getting its stated objective before talks could begin.

The warming comes two weeks after Trump representatives including Vice President Mike Pence and Ivanka Trump were in South Korea for the Olympic games.

Just like the Tariff Terror narrative, it will be very easy to be for the peace initiative when you see who is lined up against it.


As I said Monday, the Oscars telecast probably suffered from the #NotMe movement sweeping through the middle of America.

Well the rating numbers are in and the telecast had the lowest number of viewers ever and it’s the largest year-over-year drop ever.

I wrote a lots of evers there, yet Hollywood still believes its speaking for America, when in fact it really only resonates with the liberal cities on both coasts.

Even a NoKo nuclear missile can’t shake the stock markets Fed watch

How powerful is the Federal Reserve? More powerful than an atomic bomb.

That’s what the stock futures are saying as news that North Korea has successfully launched an Intercontinental Ballistic Missile (ICBM) capable of hitting US soil with a nuclear warhead.

Bond prices and equity futures shrugged off news of Kim Jong Un’s July 4th fireworks test launch, despite world leaders and the United Nations moving quickly to avert further developments.

The Fed’s global reach could be felt as well since most Asian and European markets manged to post green numbers as ICBM launch news broke.

The North Korean leader, who is more unstable than Uranium 239, said of the launch, “American bastards would be not very happy with this gift sent on the July 4 anniversary.”

The bigger driver of Wednesday’s markets is the release this afternoon of the Fed’s June meeting. Markets will be looking for clarity of the Fed’s easing on purchases as it looks to begin paring down its balance sheet.

A NYC metro area nuke exercise on tap for Tuesday

As if commuters coming into New York City don’t have enough of a hassle getting to work, but this Tuesday they could be caught up in a simulated nuke terrorist attack.

A multi-state exercise is scheduled to begin at 8:00 am Tuesday to respond to  a 10,000 kiloton nuclear bomb detonated over the Hudson, according to  US Department of Energy documents.

The response teams participation will include:

  •  US Department of Energy (DOE)
  • US Department of Defense (DOD)
  •  US Domestic Nuclear Detection Office (DNDO)
  • US Federal Bureau of Investigation (FBI)
  •  Federal Emergency Management Agency (FEMA)
  • US Northern Command (NORTHCOM)
  • State of New Jersey Office of Emergency Management
  • State of New York Office of Emergency Management
  • City of New York Office of Emergency Management

The exercise dubbed Operation Gotham Shield, will use MetLife Stadium as one triage center, according to a local professional helicopter association, informing members that their help will be needed during the operation. The operation was also listed on a northern New Jersey medical association’s web site to alert its members.

None of the agencies above would comment on the exercise, nor would they confirm or deny it was being held.

The timing is curious as North Korean leader Kim Jong-un has been threatening to use nuclear weapons against US Navy ships and Japan after arresting an US citizen over the weekend.

The bigger question is how will this impact the NY metro area. We have seen in the past government training exercises go real-world during the operation. I’m not for a second suggesting a nuke being detonated, but something less devastating could occur.

So be on the look out in the metro NYC on Tuesday, for power outages and snarled traffic at the very least, while this emergency operation is scheduled to take place.