National Economic Council Director Gary Cohn, The New York Times reported, citing a statement given to the newspaper from President Donald Trump. Cohn, previously the president of Goldman Sachs, was known to disagree over key White House economic decisions, including the new push for aluminum and steel tariffs.…[Read more]

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Target reports EPS of $1.37 (miss by a penny) on revenues of $22.77bn (beat by $240mn). Gross margins decline by 40bps in quarter https://seekingalpha.com/pr/17092789-target-reports-fourth-quarter-full-year-2017-earnings

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Video from Bloomberg back in Aug 2015, during VIX spike https://www.bloomberg.com/news/videos/2015-08-24/vix-spike-returns-fear-volatility-to-wall-street

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Commerce Secretary Wilbur Ross told CNBC on Friday that President Donald Trump’s tariffs are “no big deal.” During an appearance on “Squawk on the Street,” Ross said the tariffs will have a “broad” but “trivial” impact on prices. “What was announced yesterday by the president is a very broad concept,” he said.…[Read more]

JCP shares tumble on revenue miss. Here’s what the company reported for the fourth quarter of fiscal 2017 compared with what analysts were expecting (based on a Thomson Reuters survey):
* Earnings per share: 57 cents, adjusted, vs. 47 cents expected. * Revenue: $4.03 billion vs. $4.05 billion expected. * Same-store sales: 2.6 percent growth vs. an…[Read more]

Looks like another rough market open on Trade Tariff concerns even as 10yr yield dipped slightly below 2.80% in premarket. Setting up LOB trade to hedge some risk.

Consumer spending in January rose a scant 0.2% as Americans cut back after the holidays. And spending fell for the first time in a year if adjusted for inflation, the government said Thursday. Economists polled by MarketWatch had forecast a 0.3% increase in spending. At the same time, though, incomes rose 0.4% and after-tax incomes posted the…[Read more]

Kohl’s Corp. KSS, +1.68% shares rose 5.2% in Thursday premarket trading after the retailer reported fourth-quarter earnings and sales that beat expectations. Net income totaled $468.0 million, or $2.81 per share, compared with $252.0 million, or $1.44 per share, for the same period last year.…[Read more]

Today we have upgraded M from Sell to Hold, please review the forums for details.

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Looking to start a long-against-the-box (LOB) trade on UVXY this morning below $14 if it achieves. Simple scalp/risk mitigation trade for the day.

“In gauging the appropriate path for monetary policy over the next few years, the FOMC will continue to strike a balance between avoiding an overheated economy and bringing PCE price inflation to 2% on a sustained basis,” Powell said in prepared remarks released early by the House Financial Service committee. htt…[Read more]

“I think we are in a pre-bubble stage that could go into a bubble stage,” the hedge-fund manager said during a Harvard Kennedy School’s Institute of Politics on Wednesday, according to a Reuters report. https://www.marketwatch.com/story/bridgewaters-ray-dalio-says-us-in-a-pre-bubble-phase-with-a-70-change-of-recession-2018-02-22