From Tyler Durden: The longest bull market in history – as measured by the S&P 500 – is now less than 1% from ending, with the drawdown from the Sept 21 highs now just above 19%…2352.7 is the magic number.
From Tyler Durden: Upton Sinclair once noted: “It is difficult to get a man to understand something, when his salary depends on his not understanding it.”
From Tyler Durden: Hope was high for a rebound (after new-home-sales slumped), but that was dashed as pending home sales plunged 2.6% MoM in October (well below the expected 0.5% MoM bounce).
From Tyler Durden: In a quite notable reversal of his rhetoric from a month ago, Fed Chair Powell seems to have abandoned his hawkish “long way” from neutral messaging…
From Tyler Durden: Demonstrating how on edge the market is over any favorable (and vice versa) developments in the ongoing US-China trade war, a couple of conflicting headlines out of China shortly before 3am ET sparked turmoil across asset classes.
From Adam Taggart: As we’ve been tracking here at PeakProsperity.com, the housing market is starting to look quite ill.
From Tyler Durden: Earlier today we wrote how legacy retailers were struggling to adopt to Black Friday increasingly moving to a primarily e-commerce platform.
From Tyler Durden: The decoupling is over for the US economy and its stock market according to Morgan Stanley which has long held a bearish outlook on the US, but overnight officially downgraded US stocks to “sell”, expecting the S&P to end 2019 at 2,750, while double upgrading emerging market to overweight.
From Tyler Durden: Dow’s worst Black Friday performance since 2010 and the S&P’s 3rd worst Thanksgiving Week loss since FDR!!
From Tyler Durden: “There’s clearly a concern about a global growth slowdown.” -ALEC YOUNG, managing director of global markets research, FTSE Russell
From Tyler Durden: The “Risk Asset” Dip Not Worth Buying is on its Way
From Tyler Durden: Despite a modestly better than expected 1.4% MoM rise (after September’s 3.4% slump), existing home sales slumped 5.1% year-over-year – the biggest drop since 2014.
From Tyler Durden: After being up almost 18% year-to-date in August, the Nasdaq Composite has just plunged into the red for the year, joining all other major US indices…
From Tyler Durden: Oil is plunging again this morning (down almost 6%) on persistent fears that a surplus will re-emerge next year despite OPEC’s plans to cut production.
From Tyler Durden: In early October, when the U.S. stock market had reached an all-time high and investor sentiment was extremely complacent, I published a warning in Forbes called “Why Another Market Volatility Surge Is Likely Ahead.”