#YOLO

Well shit, if all you had to go on was Monday’s action, you wouldn’t know the U.S. is hurtling towards a constitutional crisis and you certainly wouldn’t be inclined to think the future of global trade and commerce has been thrown into question by the same “very good brain” that’s being manipulated by a foreign power in the service of subverting America’s democracy.

U.S. equities were sharply higher on the session even as the expulsion of Russian diplomats by EU and NATO countries in solidarity with Theresa May made an already delicate geopolitical situation that much more precarious. Throw in a little John Bolton and a “secret” Kim Jong-Un visit to China and you’ve got yourself a regular powder keg.

But you know, #YOLO bitchez – so buy that dip!

 

Really all you need to know is this (2%+ dip successfully bought and then some):

SPX

Like Frederick Douglass, the 200-DMA is something “that’s been doing a great job and is getting noticed more and more lately”:

200dma

The bad news continues to mount for “the social network” as a cautious Baird call combined with more FTC headlines and a Chuck Grassley “friend request” (read: invitation for Zuckerberg to testify on Capitol Hill) to drive the shares lower by 6.5% at one point. Then it was Wells to the rescue with a “nothing to see here” call:

expected

Whatever the case, this is shaping up to be a truly terrible month for the company and if things don’t improve by the end of the week, it will be the third worst month in it’s public history:

FB

Dollar sitting at its lowest since mid-February:

DXY

Notably, so far the trade war threat doesn’t seem to be rattling EM FX:

EMCurrency

This looks like NAFTA optimism (strongest level of the year for the peso):

USDMXN

For their part, European stocks careened lower as the euro surged, with the Stoxx 600 falling into correction territory:

Sotxx

As you can see, losses accelerated into the close as only 1 out of 19 Stoxx 600 sectors managed a gain. As noted, 5-week high for the euro which extended gains following the Russian diplomat news:

EURUSD

5-week high for gold as well (Goldman thinks you could do worse than buying some yellow doorstops right now):

Gold

(Another) tough day for “digital gold” as make-believe space tokens crashed under $8,000 – the following headline weighed on sentiment:

  • TWITTER TO BAN MOST CRYPTOCURRENCY ADVERTISING ON PLATFORM:RTRS

To be fair, that’s not really “news” per se, but nevertheless…

Bitcoin

Finally, for your moment of zen, here is Raj Shah talking about porn stars:

 

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