Stock Market Swoon

Why has the stock market started down again after a dramatic bounce off of the late March lows? Of course I don’t really know. Yes, it might be natural profit taking after such a monumental increase ... or the recent fall off in the price of oil ... or the market could just be “over-bought”(a frequently self-justifying Wall Street term) ... or maybe fear of a Conid-19 resurgence? Or a combination of all of these?

But I have my own special reason — Biden has recently surged in the polls to a double digit lead. I think that the market views a Biden victory in November as economic suicide.

Headlines

WHO head warns worst of the virus is still ahead

Coronavirus updates: New York begins antibody testing, public anger grows in Spain over death counts

Fauci warns USA needs to TRIPLE testing ...

Thousands defy coronavirus isolation order to attend Muslim cleric’s funeral

Facebook shuts down anti-quarantine protests at states’ request

Cannabis companies pay federal taxes but are shut out of small business loans

Oil price lowest in history ... Plunges 70% in day ...

Dick Morris: Biden Dem nomination ‘like a suicide march’

Gunman kills at least 16, including officer, in Nova Scotia

After a crazy 12 months, the S&P 500 is about back to where it started

Billionaire Branson begs for bailout ...

Report: 450,000 illegal immigrants are getting college degrees

Headlines

U.S. begins troop withdrawal from Afghanistan, official says

Coronavirus live update: Third cruise ship is kept at sea; billionaires are losing billions

Market bloodbath: stocks crater ... oil plunge ... banks hit hard ... Fed’s pump more cash

Deadly prison protests breakout in Italy ...

Progressive group that endorsed Warren switches to Sanders

Mortgage rates could be even lower, but lenders struggling with high demand

Michigan once was Bernie resurrection. It could now be his funeral ...

Stocks slammed, market circuit breakers triggered, trading halted

 Trump attacks second Democratic governor  over coronavirus criticism

WHO says threat of pandemic ‘has become very real’ even as China recoveries rise

Scott Adams: Even with coronavirus, Bernie and Biden will lose

Poll: Trump leads Joe Biden in Michigan, Wisconsin, and Pennsylvania

Headlines

U.S. added robust 273k jobs in February before virus escalated

Coronavirus live update: Cases top 100,000, Seattle Seahawks stadium staffer tests positive

Fans banned from NCAA basketball tournament ...

Warren implies Bernie ‘responsible’ for toxic Bernie Bros

Report: Explosion near U.S. Embassy in Tunisia wounds 5 police

Oil prices plunge 8% after OPEC+ fails to agree on massive production cut

Jamie Dimon emergency heart surgery ...

China claims virus came from America!

Trump signs $8.3B emergency coronavirus package

Doctor who treated first US coronavirus patient says it’s been ‘circulating unchecked’ for weeks

Study predicts 15 million dead ...

Just 20% of Germans confident Merkel can handle coronavirus outbreak

Headlines

Trump officials warn senators more Wuhan virus cases likely

The stock market just set another record, this one going back to 1972

Outbreak overwhelms ... 40 million quarantined ... ‘spreads through eyes’

Ammo sales surge as Virginians anticipate Democrat gun control

Trump threatens to cut California funding over abortion coverage

CDC confirms second US case of coronavirus and is monitoring dozens of other potential cases

Noonan: Impeachment needs witnesses on both sides ...

Between 500K and 1M non-citizens may get voting rights in New York City

Trump complains about his defense team’s ‘Death Valley’ impeachment time slot

Oil drops the most since May on fears coronavirus will hit growth

Update: 34 troops diagnoses with tram traumatic brain injuries after Iran strike

Record-high knife crime in ‘gun free’ Britain

Headlines

Cory Booker charges Trump is ‘worse than a racist’

Hong Kong police fire rubber bullets, tear gas as protests descend into chaos

Israeli minister boasts his country has been ‘killing Iranians’ ...

Stephen Miller: Criticism is OK, turning US into Venezuela isn’t

Japan’s ruling coalition scores an election victory

Iran tanker seizure shows oil price has become a ‘broken barometer’ for Mideast tensions

How Trump could lose by 5 million votes — and still win ...

Sanders campaign limiting staffer hours in order to pay $15 minimum [hourly] wage

Trump claims not to care if his attack on Omar and the squad are good politics

Puerto Rico governor Ricardo Rossello says he will not run for re-election, but is not resigning

Wealthiest 10% of households own 84% of all stocks ...

Exclusive: Mex cartel leader caught sneaking across TX border

Headlines

These headlines are real ... they have all been discovered on Internet news sites. Guess which ones came from Politico?

Macron landslide, Youngest President ever

[Kentucky Derby] Roses for Always Dreaming

Kasich to House GOP: Replacement plan is 'inadiquate'

As oil slides, one technician has shocking prediction: Expect crude to hit $90

NYT columnist warns of intellectual hubris among climate scientists

Trumpcare blame: GOP to answer for problems with healthcare law

Activists urging Obamacare supporters to mail ashes of dead people to Congress

Bernie to California Dems: Please pass single-payer healthcare

85 year-old dies on Evetest in world record bid ...

Georgia special election smashes all-time spending record

Jonathan Gruber blames Obamacare failures on Donald Trump

Boko Haram terrorists release 82 Chibok girls

Skids the Oil

The price of oil has plummeted from a high of $110 per barrel in February to a current low of around $91 ... just as the summer driving season is getting under way.  Strange!  But why?  Is it those greedy speculators again?  Has Obama opened up drilling in the Gulf of Mexico ... or released oil from our Strategic Oil Reserve?  No. 

There is a simple, straight-forward reason for this drop in the oil price (and gold too, you gold bugs).  The Euro has weakened considerably ... from a $1.47 high last summer to a current low of $1.26 ... and, me thinks, it is going quite a bit lower.  And, since most commodities are traded in dollars, not Euros, the United States backdoor benefits from all the foot dragging, indecision and political turmoil that is occurring in that Rube-Goldberg of a creation called the EuroZone. (But pity the poor driver in Greece.)

Or this oil-price skid could reverse itself overnight if Iran becomes super unsettled.