A Big Green Bubble? Nasdaq closes at another record high

JULY 11, 2020

Market Insider Stocks closed in the green on Friday, and finished off a choppy week on a positive note.      All three major indexes closed out up by a few percentage points despite the weeks many sell-offs. The Dow was up 368, the S&P was up 32. The Nasdaq, of course broke another record and was up 69 and closed the week up by a whopping 4 percent.      Still traders signaled some nervousness and bought up a good number of bonds, perhaps in light of the recent volatility.  However the real headlines came from Gilead, whose therapy remdesivir produced promising results in clinical trials. Good news that managed to make the bulls run, even as the US broke another inter-day record for new cases.      Long term uncertainty lingers over the course of the virus and Sino-American relations. Trump said a phase two trade deal was unlikely at this point, while Chinese officials promised to return fire should the White House continue to pursue further sanctions.       Looking ahead investors brace for earning season, which will begin in earnest next week. MORE HERE

Meantime On The Left Trump cast shade on the possibility of another phase two trade deal.      "I don’t think about it now," Trump said to reporters on Air Force One concerning a potential second trade deal.       "They could have stopped the plague, they could have stopped it, they didn’t stop it, ” he continued, “ the relationship with China has been severely damaged."      The first trade deal, signed in mid January, included commitments from China to boost US imports by 200 billion over the next two years. In addition the deal lifted some tariffs on China, but left many in place. The deal was something of a breakthrough after a year of tense negotiations.      But now US-China relations seem to be worse than ever. China’s crackdown on Hong Kong, their brainwashing campaign against ethnic minorities and their obvious failure to contain the virus all hamper the possibility of another trade deal.      Such a deal would likely include provisions to contain Chinese intellectual property theft, which the FBI chief this week called the biggest threat to the US. MORE HERE

The Conservative Way The California Faculty Association released a list of demands that seem to recall the old days of segregation rather than a path forward for the future.      The CFA claims that“black native and indigenous students, ” should get a free ride to redress “ systemic racism” in the California university system.      But the hyperbole doesn’t end there. The association demands that the university system itself should be dismantled because it is fundamentally grounded in a white supremacist colonial discourse and culture.”       The CFA also demands that the disparate ratio’s of colored students and white professors amounts to a “cultural tax.” They also made the baseless claim that the work of black students is “often not valued at the same level as other faculty. ”      Best of all they want a blacks only study space, and whites only unconscious bias training. What’s next white and black restrooms?      The statement ends encouraging students to continue “building on a radical and beautiful legacy of resistance. ”       Now that’s an education for people of color worth not paying for. MORE HERE

The Weird And/Or Funny After gate-crashing a right wing event as a racist country singer Sacha Baron Cohen managed to pull a fast one on Rudy Giuliani, which lead the former mayor to call the cops.      Giuliani had agreed to a sit down interview on Tuesday to discuss the administrations response to Covid-19. After the female interviewer began the session, suddenly Cohen burst in.      “This guy comes running in, wearing a crazy, what I would say was a pink transgender outfit,” Giuliani told Page Six “It was a pink bikini, with lace, underneath a translucent mesh top, it looked absurd. He had the beard, bare legs, and wasn ’t what I would call distractingly attractive.”      Giuliani didn’t recognize the comedian “I thought this must be a scam or a shake-down, so I reported it to the police. He then ran away.”      No harm no foul. Only later did Giuliani realize it was Cohen. “I am a fan of some of his movies, ‘Borat’ in particular, because I’ve been to Kazakhstan, ” said Giuliani “‘ She is my sister. She is number four prostitute in all of Kazakhstan,’’ he added in Borat's famous accent. MORE HERE

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