06Jul2018 Market Close: Wall Street Buoyed By Strong US Jobs Growth, DOW Closed Up Almost 100 Points, WTI Settled Higher In The High 73 Handle

Dueling tariffs raise fears of long U.S.-China trade battle

A U.S.-China trade fight resulting in duties on $34 billion worth of each other’s imports was seen dragging on for a potentially prolonged period, as Washington and Beijing flexed their muscles with no sign of negotiations to ease tensions.

U.S. job growth underscores economy’s strength, tariffs a threat

The U.S. economy created more jobs than expected in June, but steady wage gains pointed to moderate inflation pressures that should keep the Federal Reserve on a path of gradual interest rate increases this year.

Tariffs on U.S.-made models will mean pricier BMWs in China

German luxury automaker BMW said on Friday that it will be unable to “completely absorb” a new Chinese 25 percent tariff on imported U.S.-made models and will have to raise prices on the vehicles it makes in Spartanburg, South Carolina.

USTR sets 90-day deadline for China tariff exclusion requests

Companies seeking product exclusions from tariffs on Chinese goods imported into the United States will get 90 days to file such requests, until Oct 9, the U.S. Trade Representative’s office said on Friday.

Investors to tune in for trade impact this profit season

With the United States and China finally formalizing tit-for-tat import tariffs, Wall Street is gearing up to dissect U.S. corporate earnings in the coming weeks for signs of a trade war impact and whether it will affect spending plans.

Dollar slumps after U.S. nonfarm payrolls data, tariffs kick in

The dollar hit three-week lows on Friday after data showed the U.S. economy created more jobs than expected in June, but a closely watched inflation gauge – wage growth – rose less than forecast and the unemployment rate increased.

Exclusive: BP in lead to acquire BHP’s U.S. onshore shale assets: sources

BP Plc is in the lead to acquire the U.S. onshore shale oil and gas assets of BHP Billiton Ltd after submitting an offer worth well in excess of $10 billion, people familiar with the matter said on Friday.

Wall Street buoyed by U.S. jobs growth despite tariffs

The S&P 500 and the Nasdaq rose to their highest levels in two weeks on Friday as strong U.S. jobs growth blunted the impact of an escalating U.S.-China trade dispute.

German government, JPMorgan deny report on Deutsche Bank

The German government dismissed a report that it had privately raised concerns about Deutsche Bank , while JPMorgan denied it was interested in a stake in Germany’s biggest lender.

‘War With China’ Sparks Surge In Stocks As Policy Uncertainty Hits ‘Brexit’ Highs

Can’t allow stocks to signal that starting a trade war is anything but ‘making American great again’…

First things first, today’s actions by US, China, and Russia are not a positive and Economic Policy Uncertainty has exploded to its highest since Brexit…

And ‘hard’ US economic data is at its weakest since Nov 2017…

For now, it seems like China is suffering the most, Russia the least and US and Europe du …

Alan Dershowitz: Martha’s Vineyard Woman Threatened To “Stab Me Through The Heart”

Days after writing in an op-ed that he’s being “shunned” by the Martha’s Vineyard social circuit because of his willingness to defend President Trump on cable news (the two reportedly had dinner together earlier this year) Harvard Law Professor Alan Dershowitz – who wrote a book called “The Case Against Impeaching Trump” claimed that an unnamed Martha’s Vineyard woman said she would “stab him through the heart” if he had attended the same party.

Dershowitz was apparently told about the remark by a friend who had attended the party. “At a party this week on Martha’s Vineyard, a woman said if Dershowitz were here tonight, I’d stab him through the heart,” Dershowitz said.

“This is a Martha’s Vineyard woman saying she would stab me through the heart,” he repeated.

Alan Dershowitz said a woman at a party in Martha’s Vineyard threatened to stab him in the heart because he didn’t support impeaching Donald Trump.https://t.co/g2Po08SI8r pic.twitter.com/BHYymC0Ty8

— Paul Joseph Watson (@PrisonPlanet) July 6, 2018

Dershowitz was appearing on Tucker Carlson Tonight to discuss his op-ed in The Hill where he wrote that “old friends” on Martha’s Vineyard were …

Ray Dalio: “Today Is The First Day Of The War With China”

One month ago, Bridgewater’s Ray Dalio, the founder of the of the world’s largest hedge fund, advised his clients that he had turned bearish as a result of the economy’s late cycle stage, liquidity drainage by central banks and the lack of a coherent plan for what happens in 2020 once the Trump fiscal stimulus fizzles:

“We are bearish on financial assets as the US economy progresses toward the late cycle, liquidity has been removed, and the markets are pricing in a continuation of recent conditions despite the changing backdrop.”

It wasn’t just the “late cycle” transition that worried Dalio:, however in early May, Dalio warned that “a US-China trade war would be a tragedy” envisioning the following scenario:

If tariffs are imposed as indicated, I would hope and expect the Chinese response to be small and symbolic so that both sides will have rattled their sabers without actually inflicting much harm. What will come after that will be more important. I wouldn’t expect it to amount to much anytime soon. If on the other hand we see an escalating series of tit for tats, then we should worry.

Well, “tragedy” it is then, because moments ago, Dalio – who on America’s independence day won a license to sell investment products in China – just summarized where we stand in one terse tweet: “Today is the first day of the war with China”, note not just trade war, but “war”, period.

Today is the first da …

Whataburger Assailant Arrested After Assaulting Teen, Stealing MAGA Hat

A 30-year-old man who threw soda onto a table of teenagers at a San Antonio Whataburger has been arrested for stealing 16-year-old Trump supporter Hunter Richard’s red MAGA hat, according to local news outlet MySanAntonio.com

Kino Ahuitzotl Jimenez was taken into custody at his home in Universal City without incident by robbery task force detectives on a warrant for theft of person, according to the San Antonio Police Department. Bail has not been set according to the county magistrate’s office.

In a video which went viral Wednesday and Thursday, Jimenez can be seen throwing a soda on Richard and two friends at 2:35 a.m. on the 4th of July. As he walks away with the teen’s red MAGA hat, he can be heard shouting “this is gonna go great in my fucking fireplace, bitch,” before walking out of the eatery with another man who filmed the encounter. Footage of the incident taken by one of the victims had just under 8 million views as of this writing.

So went out for a 2am snack and my friend (wearing a MAGA hat) had his hat stolen and a drink thrown in his face (and mi …

Oil’s Twitter War May End Badly for Trump

President Donald Trump’s use of Twitter to jawbone the price of oil is in danger of backfiring and nearly did before the OPEC meeting in Vienna.

The Tell: Twitter, AMD lead list of stocks trading way over their analyst price-target averages

Just ahead of earnings season, tech companies figure prominently on a list of S&P 500 stocks that are outperforming and underperforming analyst expectations.

The Tell: Founder of world’s largest hedge fund says ‘first day of the war’ with China has begun

Ray Dalio, founder of hedge fund Bridewater Associates implies that a trade war may have just erupted.

As jobs growth continues, these cities have added the most jobs

A boom in certain industries means that some parts of the country are seeing remarkable job growth.