May 31, 2016: Canaccord Genuity raised Tetra Tech Inc to a Buy rating, from Hold, and set a price target of $37. Canaccord analyst raise price target $37 from $30, citing increased…
Industrial production fell -0.4% in May for a year over year decline of -1.4%. This is the 9th month in a row that US Industrial Production report came in below 0.
This is the longest streak of negative (contraction) industrial production outside an economic recession in US history.
Vehicle production had been leading this report but came in at -4.2% for May.
Declines were in almost every sub-component including consumer goods, business equipment and construction supplies.
How did the stock market react to this bad report this morning? It went up of course as the bad news is good news trade is on:
Forget that folks. I’m on the sidelines and in the safety of cash.
A gay nightclub in Orlando was the scene of the worst terror attack in U.S. history since 9/11. A shocking 50 people were killed inside the Pulse club. Was it Muslim based terrorism or gay hate as a result of the redefining of marriage by the Obama Administration and Democrats?
It was probably both.
The gunman was Omar Mateen of Ft. Pierce, Florida. Omar Mateen was armed with an AR-15 assault rifle and a hand gun. Omar Mateen was a Muslim and did have radical Islamic ties. He held a Florida security officer license and a state firearms license.
In the past, Obama would never blame the problem on radical Islamic terrorism. In this case, Obama might try and blame it on gay hate or automatic firearms.
Clearly this was ISIS. ISIS claimed they were going to attack Florida just three days ago. They did. Democrats might try and claim this was something other than Islamic terrorism, like gay-hate or something, but most Americans know the truth.
— TheLastRefuge (@TheLastRefuge2) June 12, 2016
Donald Trump received lots of congrats over Twitter about being right about Radical Islam, he responded:
Appreciate the congrats for being right on radical Islamic terrorism, I don’t want congrats, I want toughness & vigilance. We must be smart!
— Donald J. Trump (@realDonaldTrump) June 12, 2016
Watch the S&P Futures Market
The overnight S&P futures market will begin trading in a few hours. This will give us a suggestion as how markets will open on Monday. I will be posting updates on the S&P futures market below.
June 12, 2016 8:08 PM Pacific Time in the U.S. – S&P futures have moved slight lower since last update. As of 8:08 PM, S&P futures are down -0.40%. The futures market seems to holding fairly steady. We can say now with greater confidence that we are not seeing a crash in the futures market so this will likely be the last update for the night.
June 12, 2016 6:45 PM Pacific Time in the U.S. – S&P futures are moving lower. As of 6:44 PM, S&P futures are down -0.37%.
June 06, 2016: Air Lease announces the sale of 25 Embraer aircraft to Nordic Aviation Capital. Announced an agreement to sell 25 of its Embraer E190 and E175 aircraft in its fleet to…