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zerohedge October 23, 2018

Authored by Mac Slavo via SHTFplan.com, A potential catastrophe could occur when the current economic bubble bursts and Peter Schiff has been warning of this for a while now. The signs of economic distress are finally showing up as global markets tumbled Tuesday with European stocks touching a two-year low while United States equity futures are deep in the […]

zerohedge October 23, 2018

Having rebounded modestly back off a $65 handle intraday after OPEC/Saudi production comments, all eyes are now on API tonight which printed a huge 9.88mm barrel inventory build (biggest since Feb 2017) sending WTI back to a $65 handle. Saudi Energy Minister Khalid Al-Falih said OPEC and its allies are in “produce as much as you can mode.”   […]

zerohedge October 23, 2018

After disastrous guidance from 3M, which was promptly downgraded to 2M by the market, and ugly commentary from CAT which while beating expectations warned that “manufacturing costs were higher due to increased material and freight costs,” adding that “material costs were higher primarily due to increases in steel prices and tariffs”, moments ago semiconductor icon […]

zerohedge October 23, 2018

Authored by Patrick Buchanan via Buchanan.org, Was the assassination of JFK by Lee Harvey Oswald still getting as much media coverage three weeks after his death as it did that first week after Nov. 22, 1963? Not as I recall. Yet, three weeks after his murder, Jamal Khashoggi, who was not a U.S. citizen, was […]

zerohedge October 23, 2018

Now that even China’s president has joined the verbal jawboning campaign to inspire confidence in retail investors and get them to buy Chinese stocks, vowing “unwavering” support for the country’s private sector (just so Trump will finally stop pointing to the Shanghai Composite’s bear market as proof the US president is winning the trade war), […]

zerohedge October 23, 2018

The Dow is down 500 points this morning, practically unchanged for 2018, as all major US equity indices tumbled back below their 200DMAs… Selling has been extreme all day with TICK negative since the open… Remember yesterday’s early bounce? It’s gone…   Having bounced and found resistance at the 50% retracement, The Dow has collapsed […]

zerohedge October 23, 2018

The earnings disappointments continue with CAT and 3M the latest to add to fears about “peak earnings” after 3M not only missed Q3 earnings but slashed its full year EPS guidance, while CAT warned about rising material and freight costs. Starting with 3M, the multinational conglomerate reported 3Q EPS $2.58, which while a 10.7% increase […]