Submitted by Tyler Durden on 04/26/2016 - 16:03
Apple Tumbles After Missing Sales And Earnings, Guides Below Lowest Estimate
Submitted by Tyler Durden on 04/26/2016 - 16:45 Moments ago AAPL reported Q2 EPS of $1.90, missing expectations of $2.00 on revenue of $50.56BN which also significantly missed expectations of $52 Billion. Perhaps the biggest drive for this was both the sequential and annual plunge in Chinese sales, which dropped to $12.5 billion from $16.8 billion a year ago. The company's guidance for Q3 revenues was abysmal, and sees only $41-$43BN in sales, well below not only the median estimate of $47.35bn but below the lowest sellside estimate of $43.95bn.
Crude Extends Gains After Surprise Inventory Draw
Submitted by Tyler Durden on 04/26/2016 - 16:42 With expectations for a 1.75m barrel build, API shocked by reporting a 1.1m inventory draw sending WTI crude above $44.50 - running stops from last week's highs. Gasoline (-400k) and Distillates (-1.02m) also saw draws. Cushing, however, after recent declines from pipeline closures, saw a 1.9m barrel build.
"Realistic" Chance Americans Could Find Out Truth About 9/11 By June Of 2016
Submitted by Tyler Durden on 04/26/2016 - 16:25 James Clapper, who is charged with overseeing the declassification, reportedly said that it is “realistic” that the 28-page section of the 9/11 Commission Report would be available as early as June. “We are in the position of trying to coordinate interagency position on the declassification of the 28 pages,” he told attendees of an event sponsored by the Christian Science Monitor, The Hill reported on Monday.
Twitter Crashes After Slashing Revenue Forecast
Submitted by Tyler Durden on 04/26/2016 - 16:18 Despite all eyes on the slighlty better than expected MAUs (310m vs 308m exp.), Twitter is being clubbed like a baby seal after-hours as it has slashed Q2 revenue:TWITTER SEES 2Q REV. $590M TO $610M, EST. $677.1M
Most crucially, Twitter explains, "Revenue came in at the low end of our guidance range because brand marketers did not increase spend as quickly as expected in the first quarter." Which also does not exactly bode well for the overall ad spend market.
"Cynical, Fiction Peddlers"? Americans' Economic Confidence Tumbles To 8-Month Lows
Submitted by Tyler Durden on 04/26/2016 - 15:55 Confirming The Conference Board's earlier disappointment, it appears the American public is chock-full of "cynics" and "fiction-peddlers" as Gallup reports Americans' confidence in the U.S. economy reached its lowest weekly level so far in 2016, with 60% saying it is "getting worse."
The "Fracklog Trigger": Why 500,000 Barrels Of Shale Crude Could Hit The Market At Any Moment
Submitted by Tyler Durden on 04/26/2016 - 15:32 Drilled, uncompleted wells could return 500,000 barrels a day back to the market, according to Richard Westerdale, a director at the U.S. State Department’s Bureau of Energy Resources. The inventory of wells is known as the fracklog. “Once we start approaching $45 and above, the risk of a much sharper pullback starts to increase as a lot of shale becomes profitable again,” Angus Nicholson, an analyst at IG in Melbourne, said by phone. “It’ll bring more supply back into the market. This happened last year when a swathe of output hit the market after a price gain and subsequently led to oil dropping to record lows.”
Trump And Hillary Refuse To Explain Why They Both Share The Same Address In Delaware
Submitted by Tyler Durden on 04/26/2016 - 15:16 As it turns out, Hillary Clinton and Donald Trump share something pertinent in common, after all - a tax haven cozily nested inside the United States.
Obama Reveals Plans To Build A "Missile Defense Shield" Around North Korea
Submitted by Tyler Durden on 04/26/2016 - 15:13 "One of the things that we have been doing is spending a lot more time positioning our missile defense systems, so that even as we try to resolve the underlying problem of nuclear development inside of North Korea, we're also setting up a shield that can at least block the relatively low-level threats that they're posing right now"
Surviving Mission Creep - The Inglorious History Of Economic Central Planning
Submitted by Tyler Durden on 04/26/2016 - 15:00 The history of economic central planning is not exactly glorious. In fact, as American economist Thomas Sowell once noted, "in general [central planning] has a record of failure so blatant that only an intellectual could ignore or evade it."
These Are The Best And Worst U.S. Cities To Own A House
Submitted by Tyler Durden on 04/26/2016 - 14:54 At the top, with annual price increases over 9% and as high as 11.9% in the case of Portland, we also find Seattle Denver and - of course - San Francisco. On the other end are Washington, Chicago and oddly enough, New York. We wonder if Case Shiller used the UMich "random" telephone directory to calculate that NYC home prices rose at precisely the rate of core inflation in the past 12 months while ignoring the dramatic moves in the ultra luxury high end segment.
Who Is The Ravenous Buyer Of All Those Energy Stocks? Here Is The Surprising Answer
Submitted by Tyler Durden on 04/26/2016 - 14:53 While one can blame algos and "macros" for snapping up oil the commodity, as Morgan Stanley did recently, another question is who is buying energy stocks to a level that makes little sense from a forward P/E multiple. The answer may have been revealed earlier today in Bank of America's breakdown of what smart money investors were doing. While we already reported that for the 13th, record, consecutive week, hedge funds, institutions and private clients were unloading risk exposure, one other group of client were buying energy stocks in record amounts: Pensions.
Why All Eyes Will Be On Apple's Earnings Report After The Close
Submitted by Tyler Durden on 04/26/2016 - 14:46 Shortly after the close today, Apple will report its much watched earnings which will be closely watched for several reasons. The biggest one is that since Q1 2014 AAPL has contributed 25% of the S&P’s 4.2% growth rate (excluding the EPS benefit of the company's massive buyback program). Furthermore, roughly 40% of the nearly 9% jump in Tech margins since 2009 is attributable to Apple alone. However, that was all in the past: this quarter Apple is actually forecast to subtract 0.7% from the S&P's bottom line.
Spain "Doomed" To New Elections After King Felipe Unable To Bring Parties Together
Submitted by Tyler Durden on 04/26/2016 - 14:37 Back In December, Spain held what turned out to be inconclusive elections as voters clearly rejected the status quo with the country's lowest turnout in three decades. While incumbent Rajoy gained themost seats he was unable to get a majority and now four months later, King Felipe appears to have thrown in the towel on trying to bring the sides together in a working coalition. A new election for Spain is now inevitable in the summer after the king said no candidate counts with enough support to form a government - after a third round of talks between party leaders, the king won’t nominate a candidate, the Royal Palace said in a statement.
Is Breadth Signaling More Than Meets The Eye In This Market?
Submitted by Tyler Durden on 04/26/2016 - 14:20 Does an unprecedented show of positive breadth foretell a quick end to stocks’ recent struggles? (Hint - the answer is not what you might expected)
10 Key Things To Watch In Tonight's Presidential Primary Bonanza
Submitted by Tyler Durden on 04/26/2016 - 14:00 Today we see five states hold the presidential primaries, the so-called "Acela Primary" as most of the states up for grabs fall along Amtrak’s Acela train line between Washington, D.C., and Connecticut, and with Hillary comfortable, and Trump looking for a sweep as he surges on the back of yet another failed "stop-trump" attempt, there should be no real surprises when polls close this evening.
Sorry Credit Suisse, The Short Covering Isn't Over... But You May Be Right About The New "Pain Trade"
Submitted by Tyler Durden on 04/26/2016 - 13:40 In Credit Suisse's Top 10 market notes from this morning, we found an interesting comments, one which according to the author could mean some semblance of normalcy was returning to the market.
Treasury Sells $34 Billion In 5 Year Paper In Another Mediocre, Tailing Auction
Submitted by Tyler Durden on 04/26/2016 - 13:09 Yesterday's 2 Year auction was surprisingly poor because, among other things, it was the first tailing auction since 2014. Moments ago the US Treasury sold $34 billion in another lackluster auction which saw the high yield print at 1.41%, tailing 0.2 bps through the When Issued.
Venezuela Starts Power Rationing, Oil Production Likely To Fall
Submitted by Tyler Durden on 04/26/2016 - 13:00 Venezuela - home to the largest oil reserves in the world - will for the next 40 days experience a four-hour blackout every single day, and there are fears that the rationing could lead to unrest and trigger a decline in oil output at a time when the country is barely hanging on.
Iconic Hedge Fund Brevan Howard Slammed With $1.4 Billion In Redemption Requests
Submitted by Tyler Durden on 04/26/2016 - 12:56 It has already been a very bad several years for hedge funds with 2016 starting off especially brutally, when moments ago we learned that it is about to get even worse for one of the most iconic names in the macro hedge fund space, Brevan Howard, which according to Bloomberg has been served with $1.4 billion in cash redemption requests.
China Commodity Bubble Bursts As Exchanges Curb Goldman's "Biggest Concern"
Submitted by Tyler Durden on 04/26/2016 - 12:40 During the last week we have highlighted the frightening similarity between the speculative spike in China commodity trading (which has sent industrial metals prices soaring in yet another 'error' signal for real supply and demand) and the pump-n-dump in Chinese stocks. Specifically, as Goldman warns the factor that "concerns us the most is the increased speculation in the Chinese iron ore futures market," and now, as Bloomberg reports, it appears that bubble is bursting as Steel and Iron Ore prices tumble most in 21 months after Chinese exchanges raise margins in an attempt to curb speculation.
Why North Korea's Failed Missile Launch Matters
Submitted by Tyler Durden on 04/26/2016 - 12:22 The recent failure of North Korea’s missile tests reaffirms the deficiencies of its ballistic and nuclear programs. Perversely, it also increases the risk of an imminent greater destabilizing behavior.
Will Algos Push Oil Back To $60? Morgan Stanley Begs You To "Forgive The Macros, They Know Not What They Do"
Submitted by Tyler Durden on 04/26/2016 - 11:58 “Close your eyes and buy” seems to be the mantra for now. While fundamentals don’t justify a cyclical recovery in oil yet, the market continues to move higher. The primary driving force has been macro funds, index money and CTAs. Technicals and momentum have only added to it, and there is a sense from some of investors that they need to buy for fear of missing out. Similar to 2015, we see a confirmation bias where any bullish data point is embraced outages, weekly US production, etc) and bearish data points are dismissed or spun as a buying opportunity.
Trump Reaches 50% National Support For First Time
Submitted by Tyler Durden on 04/26/2016 - 11:45 Everything is going wrong for the GOP establishment. Yesterday, 'the alliance' broke down within hours of being conjured into life, and today the anti-Trump-ers face disaster as a new NBC poll shows Donald Trump has reached 50 percent support from Republicans and Republican-leaners nationally for the first time since the campaign began. As Goldman notes, after a brief period of uncertainty following the Wisconsin primary earlier this month, the Republican nomination once again looks like it is Mr. Trump’s to lose.
The desperation is obvious, palpable, incredible,
fascinating, and unmistakable. History is being made, as the last ditch
is overrun.
by Jim Willie, GoldenJackass via Silver Doctors:
For the last year or more, not an elephant, not a gorilla, but a dragon
has been found at the dinner table. Its breath has just made everybody
at the table totally bald with some scorched red faces. Now all are
looking at each other, wondering who will first mention the bald guys at
the table. The Shanghai levers are finally functioning, starting with
the Gold Fix and continuing with the RMB-based gold futures contract
(which delivers gold metal oddly). The game is finally on, as in the climax chapter to the End Game.
Paper gold is totally disconnected from fundamentals. The paper charade is as impressive as it is corrupt. Its enemy is physical gold and related demand. Silk Road nations have strong gold demand, which will disrupt the entire geopolitical balance of power, extending from trade and non-USDollar platforms. The West has the corner on toilet paper used in the gold market. The United States has the corner on the USDollar, used in fraud and illicit tolls.
Read More
by Jim Willie, GoldenJackass via Silver Doctors:
For the last year or more, not an elephant, not a gorilla, but a dragon
has been found at the dinner table. Its breath has just made everybody
at the table totally bald with some scorched red faces. Now all are
looking at each other, wondering who will first mention the bald guys at
the table. The Shanghai levers are finally functioning, starting with
the Gold Fix and continuing with the RMB-based gold futures contract
(which delivers gold metal oddly). The game is finally on, as in the climax chapter to the End Game.Paper gold is totally disconnected from fundamentals. The paper charade is as impressive as it is corrupt. Its enemy is physical gold and related demand. Silk Road nations have strong gold demand, which will disrupt the entire geopolitical balance of power, extending from trade and non-USDollar platforms. The West has the corner on toilet paper used in the gold market. The United States has the corner on the USDollar, used in fraud and illicit tolls.
Read More
For the last few months, silver has crept higher under the radar, that
is, until the last 2 weeks, where it started to become mainstream news.
The silver price, which the banks had remarkably kept $14s and under for
several months, had finally come off the lows, and it’s quickly made up
for lost time.This is now “make or break” time for this new rally. As you can now see in this chart, after its recent stellar performance, silver is at a crucial crossroads now.
Read More
by Mac Slavo, SHTFPlan:
While President Obama took credit this weekend for saving the world economy from a global depression and stock markets are hovering around all-time highs, not everyone is convinced that central bank policy and government involvement in financial markets has stabilized the system. Doug Casey, one of the most well respected institutional investors in the world and someone who thrives in environments plagued with volatility and risk, joins Future Money Trends to explain exactly why the world has not avoided a Greater Depression and how things are about to get “very, very bad.”
And by very bad he means that centrally manufactured super-bubbles and bubbles are set to wipe out trillions.
Read More
While President Obama took credit this weekend for saving the world economy from a global depression and stock markets are hovering around all-time highs, not everyone is convinced that central bank policy and government involvement in financial markets has stabilized the system. Doug Casey, one of the most well respected institutional investors in the world and someone who thrives in environments plagued with volatility and risk, joins Future Money Trends to explain exactly why the world has not avoided a Greater Depression and how things are about to get “very, very bad.”
And by very bad he means that centrally manufactured super-bubbles and bubbles are set to wipe out trillions.
Read More
by Rory, The Daily Coin:
For the past three plus years I have been asking how silver and gold have always been available when we can see stress in the markets all through the supply chain. According to several prominent analyst, and producers, global silver and gold production declined in 2015. In Mexico alone silver production is down approximately 6%. According to some of the information that we reviewed, here at The Daily Coin, silver production increased due to the low price of silver.
Silver has become a just-in-time product. With Eric Sprott, Sprott Assets, recently announcing a $5 billion addition of physical silver to the PSLV ETF we shall see what is happening with the silver market at the institutional level.
Read More
For the past three plus years I have been asking how silver and gold have always been available when we can see stress in the markets all through the supply chain. According to several prominent analyst, and producers, global silver and gold production declined in 2015. In Mexico alone silver production is down approximately 6%. According to some of the information that we reviewed, here at The Daily Coin, silver production increased due to the low price of silver.
Silver has become a just-in-time product. With Eric Sprott, Sprott Assets, recently announcing a $5 billion addition of physical silver to the PSLV ETF we shall see what is happening with the silver market at the institutional level.
Read More
from Washington’s Blog:
Barack Obama ended opium eradication efforts in Afghanistan in 2009, effectively green lighting Afghan opium production and the Afghan heroin trade. By 2010, all US efforts to eradicate Afghan opium ceased. It has been US policy to allow Afghan opium growing and the heroin trade since. US heroin deaths tripled from 3,036 in 2010 to 10,574 in 2014 as a result.
Vanda Felbab-Brown at the Brookings Institution. a liberal think tank that often writes reports supporting the Obama Administration, penned “No Easy Exit: Drugs and Counternarcotics Strategies in Afghanistan” in advance of the April 2016 UN Summit on Drugs (UNGASS). No way out for Uncle Sam is more like it. The report is notable for what it omits, which is any mention of the heroin epidemic, the deadliest illicit drug epidemic in history, or any of the tens of thousands of Americans killed by heroin since Obama took office.
Read More
Barack Obama ended opium eradication efforts in Afghanistan in 2009, effectively green lighting Afghan opium production and the Afghan heroin trade. By 2010, all US efforts to eradicate Afghan opium ceased. It has been US policy to allow Afghan opium growing and the heroin trade since. US heroin deaths tripled from 3,036 in 2010 to 10,574 in 2014 as a result.
Vanda Felbab-Brown at the Brookings Institution. a liberal think tank that often writes reports supporting the Obama Administration, penned “No Easy Exit: Drugs and Counternarcotics Strategies in Afghanistan” in advance of the April 2016 UN Summit on Drugs (UNGASS). No way out for Uncle Sam is more like it. The report is notable for what it omits, which is any mention of the heroin epidemic, the deadliest illicit drug epidemic in history, or any of the tens of thousands of Americans killed by heroin since Obama took office.
Read More
by Daisy Luther, The Organic Prepper:
Baby chicks…they’re adorable, fluffy, and incredibly delicate! Despite their fragility, they’re actually pretty simple to raise. If you have some outdoor space and live in an area where it’s allowed, fresh eggs and meat (if you’re interested in that) can easily be yours!
This week’s self-reliance strategies are all about getting started with baby chicks.
I don’t have 20 years of experience with baby chickens, but I’m now on my 4th batch of them. Each new batch has been more successful than the one before. Just like any other new skill, it works best if you simply find a reliable guide, plunge in, and learn “on the job.” Below, we’ll talk about how to get started on the most adorable hobby around. Trust me – anyone can do this! This article is long, but it contains basically everything you need to know to get started raising baby chicks.
Read More
Baby chicks…they’re adorable, fluffy, and incredibly delicate! Despite their fragility, they’re actually pretty simple to raise. If you have some outdoor space and live in an area where it’s allowed, fresh eggs and meat (if you’re interested in that) can easily be yours!
This week’s self-reliance strategies are all about getting started with baby chicks.
I don’t have 20 years of experience with baby chickens, but I’m now on my 4th batch of them. Each new batch has been more successful than the one before. Just like any other new skill, it works best if you simply find a reliable guide, plunge in, and learn “on the job.” Below, we’ll talk about how to get started on the most adorable hobby around. Trust me – anyone can do this! This article is long, but it contains basically everything you need to know to get started raising baby chicks.
Read More
by Melissa Dykes, The Daily Sheeple:
Said anything bad about Hillary on Twitter or Facebook lately?
Well, you just might find yourself getting “corrected” by her “Correct the Record” Super Pac through its project “Barrier Breakers” which has boasted that it has already “addressed more than 5,000 people that have personally attacked Hillary Clinton on Twitter,” according to The Daily Beast.
“This explains why my inbox turned to cancer on Tuesday,” wrote [Reddit] user OKarizee. “Been a member of reddit for almost 4 years and never experienced anything like it. In fact, in all my years on the internet I’ve never experienced anything like it.”
Read More
Said anything bad about Hillary on Twitter or Facebook lately?
Well, you just might find yourself getting “corrected” by her “Correct the Record” Super Pac through its project “Barrier Breakers” which has boasted that it has already “addressed more than 5,000 people that have personally attacked Hillary Clinton on Twitter,” according to The Daily Beast.
“This explains why my inbox turned to cancer on Tuesday,” wrote [Reddit] user OKarizee. “Been a member of reddit for almost 4 years and never experienced anything like it. In fact, in all my years on the internet I’ve never experienced anything like it.”
Read More
by Pepe Escobar, The News Doctors:
US President Barack Obama landed in Saudi Arabia for a GCC petrodollar summit and to proverbially “reassure Gulf allies” amidst the oiliest of storms.
The Doha summit this past weekend that was supposed to enshrine a cut in oil production by OPEC, in tandem with Russia – it was practically a done deal – ended up literally in the dust.
The City of London – via the FT – wants to convey the impression to global public opinion that it all boiled down to a dispute between Prince Mohammed bin Salman – the conductor of the illegal war on Yemen — and Saudi Oil Minister Ali Al-Naimi. The son of — ailing — King Salman has been dubbed “the unpredictable new voice of the kingdom’s energy policy.”
Read More
US President Barack Obama landed in Saudi Arabia for a GCC petrodollar summit and to proverbially “reassure Gulf allies” amidst the oiliest of storms.
The Doha summit this past weekend that was supposed to enshrine a cut in oil production by OPEC, in tandem with Russia – it was practically a done deal – ended up literally in the dust.
The City of London – via the FT – wants to convey the impression to global public opinion that it all boiled down to a dispute between Prince Mohammed bin Salman – the conductor of the illegal war on Yemen — and Saudi Oil Minister Ali Al-Naimi. The son of — ailing — King Salman has been dubbed “the unpredictable new voice of the kingdom’s energy policy.”
Read More
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