"The banks must be restrained, and the financial system reformed, and balance restored to the economy, before there can be any sustained recovery."

Jesse, July 2009

Stocks were on the wobbles today, as the euphoria over the impending China trade and EU-UK Brexit deals paled a bit in the harsh light of day.

Retail sales missed this morning casting a further pall on the prevailing narrative of The Recovery™.

But it did spark thoughts of the next rate cut, which drove the dollar lower.

After the bell, IBM and Netflix both missed their key metrics.  

Netflix initially plunged, but then remarkably and sharply rallied back to the green based on some rosy projections for the future. Confidence restored! The transformation will be made, from growth unicorn to a 'value stock.'

Smells like teen spirit. Or something like that.

Trumpolini reassures us that the situation in northern Syria is 'nicely under control.'

As a reminder, there is a stock option expiration on Friday.

In the end, the only unendurable sorrow is not to have been a saint.

Have a pleasant evening. 

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