The reason we had this neutral trend, this sideways act and forth, for what turned them. Ullish was a higher load the buyers have more conviction on each dip. We now have the rsi coiling up out of the coil. Moreuggesting we could see strength ahead for the s p 500. One place there wasnt strength was defensive yield proxy stocks. Interestingly, a 260 million etf that focuses on defensive stocks actually rose today. It is outperforming the s p 500 by about 1 this year. It equals about 100 s p 100 cks that have strong prop strong profiles, but the holdings are not what you would think of when you think of the textbook definition of defensive stocks. After that it is software, electronics, diversified financials, retail, bank stocks, they all have at least a 5 allocation in the etf. It shows you that defense really is in the eye of the beholder. Palladium surge to a record high as cleaning air rules clean air rules boosted demand for the metal. There is concern that the high price of palla
Congressional subpoenas and cant be forced to testify before congress. Lets bring in attorney david rifkin, he served during the reagan and georg george h. W. Buh administrations. Welcome. Thank you for coming today. David, how strong is this president s case for saying that his aides dont have to testify because of this immunity . Very strong. It is a wellestablished immunity, paul, dates back to 1971, an opinion written by william republica renquist, been reaffirmed in nine administrations and both parties, fully case law. Ittheres a group of people tht see the president every day, he communicates with them, the 1971 opinion says the president is a coequal branch, he cannot command that members of congress appear before him. They cannot command he appears before them. I want to emphasize one more point. The reason the president has a strong position, theres another form of absolute immunity based upon 1989 opinion, he went on to be a chief judge in the fourth circuit. That stands for
Where might it be signed . How about london in early december, when President Trump attends a nato summit . Theres a lot of speculation that xi might be there. Well, that is magic to the market. Stocks are going up. Look at this. The dow industrials will be up well over 100 points, maybe 140 points. The s p 500 is going to be up about 10. Thats. 33 . The nasdaq will chime in with a 30point gain. That would be about. 33 or more. Here come more record highs. All right. Now, how is this for a headline . Turmoil at one of the most powerful companies in the world. Google. The board has opened an investigation and hired an outside law firm to look into Sexual Harassment and misconduct. Shareholders and some employees are not happy with the big severance packages given to executives who are being forced out. At the center of the probe, andy ruben, who ran the android division, and David Drummond, googles chief legal officer. This is not a story about the stock. Its a story about relationships
For the whole country, the blue states. A worsening trend, a fast growing list of individuals and Companies Fleeing those outofcontrol policies. Believe it or not, the u. S. House is in recess again, voters waking up to that fact when they come back from congress, they will have a little over a week to stop a government shut down by thinks giving. The debate, can they get that done in time and will shut down delay the democrats impeachment inquiry . The 2020 election may well be decided in three states that gave the President Trump the presidency, we have the names as polls now show impeachment underwater. Going negative with voters in those states in the democrat candidate who does not break 50 in these make or break states. The trouble ministration tightening the screws, iran later this week, for the break with the 2015 nuclear deal, we have the update on that and what they warned us about last night. Iran might retaliate in a big way to hit the oil markets. Also tonight, outrage and
Optimism. Upside and. 1 to the friday coming out of the doldrums with regards to the hong kong market. Profit plunge perhaps possible, coming things down as the bank index. Lets have a look at currencies in play and whether the rally can last. Some predicting we will see 70 u. S. Cents. Still, holding on and it is 1. 29 still. The bears doing do likewise. The dollar much unchanged, andngthening in the system three currently. Hat is where we find ourselves su keenan has a first word news. We are going to start with saudi aramco. The companys worth maybe 1. 5 trillion for even less according to research by potential investors. The 2aluation is below trillion target initially set for the kingdom and it suggests a struggle. That it will start stock trading next month. To add a foot note to that, you see oil prices 20 and thenout came down by 10 and all the future traders saw this. We have 1 8 of the Oil Production in the world and the oil traders they saw this and that means it is really s