It is the 27th of April 2017

News

San Francisco Judge Blocks Trump's Sanctuary City Executive Order

To our complete 'shock,' a federal judge in San Francisco has just blocked Trump's Executive Order intended to withhold funding from communities that limit cooperation with U.S. immigration authorities.  The basis of the finding is that only Congress, not the president, has authority to attach new conditions to federal spending.

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U.S. Steel Crashes After Slashing Guidance By More Than 50%

One day after Trump slammed Canada with a lumber tariff, somehow managing to send lumber future prices limit down on the CME, he is faced with another, far more credible crisis: the terrible guidance just released by US Steel in particular, and the fate of the US Steel industry - and China's adverse impact - in general.

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U.S. Steel Crashes After Slashing Guidance By More Than 50%

One day after Trump slammed Canada with a lumber tariff, somehow managing to send lumber future prices limit down on the CME, he is faced with another, far more credible crisis: the terrible guidance just released by US Steel in particular, and the fate of the US Steel industry - and China's adverse impact - in general.

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WTI/RBOB Tumble After Surprise Crude, Gasoline Builds

After dropping to a $48 handle, WTI bounced off its 200DMA, but remains well down from last week's levels before the DOE-reported surprise gasoline build. The initial kneejerk reaction lower in WTI/RBOB after API reported an unexpected crude build and yuuge gasoline build.

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Trump: "I Don't Fear A Trade War With Canada"

While Trump tried to downplay concerns about a trade with with Canada, after his administration slapped tariffs on Canadian softwood lumber, he may have succeeded in fanning the flames when on Tuesday Trump told reporters that “No,” he does not fear a trade war with Canada adding "they have a tremendous surplus with the United States. Whenever they have a surplus, I have no fear."

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