Faber News Flow

One could get whiplash listening to Guggenheim's Scott Minerd's rapidly changing opinions these days. Back on  May 29,  the weightlifting CIO of the $265 billion asset manager,  made a gloomy forecast on CNBC , predicting that the stock market sell-off is likely far from over, and said stocks would go "somewhere below the lows in December." Near term, he saw an "immediate move" down to around 2,730 on the before it drops further. Oh, and he also said the next move by the Fed will be a rate hike. Oops. Not even two months later, everything miraculously changed, and on July 15,  again on CNBC , Minerd changed his tune by 180 degrees, and no longer seeing any crash, said that he now thinks the S&P 500 could rise 15% and approach 3,500 before the end of year, comparing the current market environment to a 1998 rally amid interest rate cuts. Cannabis Stocks Take a Hit Amid Industry Setbacks "This rally — whether you're looking at bonds, you're loo

Update:  President Trump simply won't back down from bashing the Fed on Monday. In a series of two tweets sent just before the open, Trump alleged that the central bank "raised way too early and way too much" and that their "quantitative tightening" was "another big mistake." And while the US is "doing very well" in terms of wealth creation, we could have done much better if the Fed hadn't rushed to keep hiking rates. Unfortunately, slashing rates by 25 bp simply isn't enough. "The Fed has made all of the wrong moves...a small rate cut isn't enough, but we will win anyway!" The Fed "raised" way too early and way too much. Their quantitative tightening was another big mistake. While our Country is doing very well, the potential wealth creation that was missed, especially when measured against our debt, is staggering. We are competing with other..... — Donald J. Trump (@realDonaldTrump)  July 29, 2019 Fed in Trum

A quiet day for sure but the trends remain - dollar and gold higher together, bond yields fading, and stocks clinging near record highs... Powell better not let the world down!! Chinese stocks trod water overnight... U.S. Equities to Profit From Low Inflation, Rates: Northern Trust UK's FTSE exploded higher as the pound plunged, Italy underperformed in Europe but the rest of the majors were flat...   And a mixed bag in US stocks too with The Dow clinging to some semblance of positivity as Small Caps and Nasdaq underperformed...   FANG Stocks erased Friday's gains...   It's Beyond Meat's earnings tonight - make or break time for shorts who are paying 144% borrow...   The S&P continues to dramatically outperform the broadest US equity index - not exactly what one would hope for in a broad-based re-acceleration in growth...   Treasuries were bid after Europe closed and ended lower in yields on the day (but traded in a very narrow range)...   30Y Yields erased the losse