Existing Home Sales Slump (Again) In August, Supply Hits 10 Year High

As Stocks Hit Record Highs, Americans' Consumer Confidence Collapses To Record Low With the "mini war" still ongoing (albeit with a 'ceasefire' in place), expectations were for UMich consumer sentiment to continue languishing at record lows in final May data released this morning. And it did, with the headline sentiment - along with both Current Conditions and Expectations - all plunging to record lows... Source: Bloomberg Yep... Americans have never been more miserable... Black Friday, meh; 9/11, nothingburger; GFC, fleshwound... “The cost of living continues to be a first-order concern, with 57% of consumers spontaneously...

Iranian Supreme Leader Ayatollah Mojtaba Khamenei said in a statement on Thursday that the future of the Persian Gulf is without a US presence and vowed that Tehran would set “new legal frameworks” for the Strait of Hormuz. The statement, which commemorated Iran’s Persian Gulf National Day, was issued through Iranian media as Khamenei has […]

3 Midterm Outcomes & How They'd Move Stocks Submitted by QTR's Fringe FinanceWith the midterm elections now here, I wanted to quickly lay out the three potential scenarios I see unfolding, and how I think the stock market could react to each. Most of my readers are already familiar with my first, and what I think could happen to markets as a result: Could Democrats Crash This Market?As I’ve been prattling on about for month, I believe the market is already sitting on a powder keg of excessive valuations, artificial...