Donald Trump is expected to plead not guilty to 37 felony counts linked to owning classified documents related to national security as well as charges of conspiracy to obstruct justice and lying about it ahead of his first appearance in a courtroom in Miami. Trump met his lawyers yesterday close to the court, supposedly discussing his legal defense across the case. It is believed that he could increase his legal team in the coming weeks. Prosecutors also accuse Trump of breaching the subpoena for turning over sensitive information on the US nuclear program and military secrets.
this is fake news because the big mac price is really 5 something but the message is directionally accurate. Inflation hurts Mcdonald’s customers the most. Personally, my last McDonalds order was $15+.
more fakeness in this graphic, rightly noted by EJ
https://cdn.jwplayer.com/previews/MYmLSGnK?s=03
Commodities specialists Scott Shelady and Tom Grisafi talk about inflation and its implications beginning at 3:15
Currency Heat Map
https://www.barchart.com/forex/market-map
Stock and Bond News
https://finance.yahoo.com/news/may-cpi-inflation-data-june-13-2023-123207667.html
https://www.ft.com/content/46f4c713-812e-4b0c-961b-ffbe54b6121e
Somewhere between bank-run fear-mongering and “maybe AI will save us” wishcasting, one can find slightly more reasoned predictions about stocks this year. (We’re talking about US large-caps and the S&P 500, of course.
Most expect the S&P 500’s EPS to decline by less than 1 percent, on average.
Morgan Stanley’s equity strategists are forecasting a nearly 15 percent drop in profits from last year, to $185 of earnings per share. ouch.
Commodity News
https://www.barchart.com/futures/major-commodities?viewName=main
World consumption will exceed supplies by roughly 2.7 million barrels a day next month, a report from OPEC indicated on Tuesday, and if the de facto leader of the group decided to extend the reduction for the whole third quarter, it would be the biggest deficit since 2021.
The International Energy Agency, which advises consuming nations, will release its latest projections for global supply and demand on Wednesday.
Useful Sites:
ptiprodirect.com/open-account/
Investing.com
Barchart.com
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