IBM “Beats” Thanks To Near Record Low Tax Rate As Revenue Barely Grows

After years of declining revenues, IBM finally posted its first revenue increase at the end of the last year, an inflection point which may have marked the low point for the company, notorious for its accounting gimmicks and pro forma adjustments. And now, in its…

US Crude Oil Inventories Surge After Production Spikes, Exports Crash

WTI was still trading lower after API reported last night’s surprise crude build, and traded lower initially after DOE reported a massive surprise crude build. Additionally, US production hit 11mm b/d for the first time ever. As Bloomberg Intelligence’s Senior Energy Analyst Vince Piazza notes,…

Morgan Stanley Jumps After Smashing Estimates In Stellar Quarter

Morgan Stanley stock is 3.5% higher after reporting another “stellar”, as Bloomberg called it, quarter with beats across the board, especially in trading and investment banking, in contrast to Goldman’s somewhat soft earnings report.  The bank reported Q2 EPS of $1.30, handily beating estimates of…

Eritrea-Ethiopia Peace Deal Offers Hope for Reform

Eritrea and Ethiopia resumed diplomatic and commercial ties after a 20-year-stand off last week. The countries’ leaders signed a declaration that “[a] new era of peace and friendship has . . . opened.” Now, families long separated by the stalemate can once again speak to…

LIVE: FBI LISA PAGE CONFIRMS BIAS AGAINST TRUMP WITHIN PETER STRZOK TEXTS, CONTRADICTS TESTIMONY

Lawmakers eye possible new leads after hearing with FBI attorney https://www.upi.com/Lawmakers-eye-possible-new-leads-after-hearing-with-FBI-attorney/8311531824010/ GOP REP: LISA PAGE CONTRADICTED PETER STRZOK’S TESTIMONY http://dailycaller.com/2018/07/17/lisa-page-peter-strzok-contradicted/ Peter Strzok’s Out of Scope Polygraph https://www.c-span.org/video/?c4738037/peter-strzoks-scope-polygraph GOHMERT: To your knowledge. Did you not know that Bruce Ohr was meeting with Christopher Steele, getting information…

Cable Rebounds As May Survives Another Brexit Rebellion

Cable is back above 1.31 (up 100 pips off the lows) after UK PM Theresa May managed to fend off an attempt by pro-EU Conservative rebels to force her to stay in a customs union with the bloc after Brexit. As Bloomberg reports, it was…

Ad Giant Omnicom Crashes Most In 16 Years As Clients Flee

Nearly a year after the stock of advertising giant Interpublic crashed, following a stark warning about the decelerating state of the legacy advertising business, that other ad giant, Omnicom, decided to prove it right, and on Tuesday it suffered its biggest stock crash since the…

US Market Open Sparks Panic-Bid For Stocks, Bonds Shrug

After the Dow’s lowest range day since Christmas 2017, it seems Johnny 5 and his algo friends woke up with a jolt today… Nasdaq has nearly erased the entire impact of Netflix’s collapse! And on the week… But bonds continue to be thoroughly unimpressed… VISIT…

Just 21% Say U.S.-Russia Relations Will Get Better

After a delayed start this morning, the much anticipated meeting between President Trump and Russian President Vladimir Putin is now under way, but voters aren’t optimistic about future relations with the former Cold War foe. A new Rasmussen Reports national telephone and online survey finds…

Pakistan: Militant Attacks Escalate As Election Nears

Expand A political party worker comforts another after a suicide attack during an election campaign meeting in Peshawar, Pakistan, July 10, 2018. © 2018 Reuters (New York) – Pakistan’s interim government should take all necessary steps to ensure the safety of candidates and political party…