Saturday, July 22, 2017

Today's Headlines

  • German Minister Addresses Turks as EU Reacts to Diplomatic Spat. Germany’s foreign minister penned a memo to Turks defending his government’s actions, the latest move in a diplomatic feud between the countries that also saw Germany getting support from the European Union. Sigmar Gabriel published an open letter to German Turks in both languages in Saturday’s edition of the popular Bild newspaper, saying the government “can’t just sit idly by” and has to protect its citizens after Turkey’s jailing of German human rights activists and two journalists. Meanwhile, European Union Commissioner Johannes Hahn said Ankara is on a “destructive course” and backed Germany in an interview with the newspaper Die Welt.
  • Record S&P 500 Failing to Stem Steadiest Fund Outflow Since 2009. Even as the S&P 500 Index clawed its way to a fresh record and squeezed out a third consecutive weekly gain, signs of fading enthusiasm in U.S. stocks have become increasingly difficult to ignore. The latest can be seen in the SPDR S&P 500 Trust, the biggest exchange-traded fund tracking the U.S. equity benchmark. As of Thursday, investors had pulled $3.8 billion out of it in July. That puts the fund on pace for a fourth consecutive monthly outflow, which would be the longest streak since the start of the bull rally in 2009.
Wall Street Journal:
  • Had bullish commentary on (MS), (JPM), (LUK), (GS), (C), (STT), (FLEX), (BBY) and (BK).
Zero Hedge:

No comments: