It is the 20th of August 2017

News

S&P Slumps To Slowest Market In 90 Year History As Dow Hits 7th Straight Record Close

While hard data has been hovering at 2-year lows, soft data has been rebounding recently... until today - The ISM Services index saw its steepest m/m decline this month since the financial crisis.

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Dow Tops 22,000 As Dollar Drops To 27-Month Lows

It appears the market's attitude today was simple..,

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Calmest Market In 75 Years Hits Record Highs - Ignores Dismal Data, Commodity Carnage

Massive liquidity issues in China wealth product liquidation, commodities crashing, oil plunging, US macro data disappointments, US earnings disappointments, and Buffett dumping Big Blue - only makes sense that The Dow just had its quietest 8 days since 1952!!!

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Shorts Smoked - Stocks End 'High' As Dollar Dumps'n'Pumps

Despite tumbling soft data and disappointing earnings data...

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Big Blue Batters Dow To 2-Month Lows As Crude Crashes

No macro today but excuses galore for Goldman's weak quarter and why we should just ignore IBM... Fed's Rosnegren talked up the reduction of the balance sheet and that didn't help...

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Stocks Shrug Off Dismal Data, Hawkish Fed; 'Animal Spirits' Soar To Record High

Reflecting on the week - a week that saw 7 Fed speakers go full hawktard and drive rate hike odds at a pace never seen before, a week in which hard data tumbled to pre-election lows as 'soft' surveys all hit record highs, a week in which Small Cap stocks tumbled red (but but but they're domestic focused) as bank stocks soared, a week in which The Dow spiked to 21,100 on the back of the biggest retail ETF inflows in 3 years, and a week that saw a virtual currency's price top gold's for the firs time ever - we thought this was appropriate... (NSFW!!)

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