Vaping Crisis Demos Altria-Philip Morris Merger.
Suddenly, the crown jewels are toxic and about to be made illegal. The Juul CEO has resigned and the company may be about to go down the tubes. One of the largest mergers in history that would have created a $200 billion company has been tossed on the dustbin of history.
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Trump is Becoming a Day Trader, as Our Daily Dose of Market Manipulation Lifts Stocks,
with the Dow Average gaining slightly. He hinted that a Chinese deal may come sooner than expected. Is Trump folding, or will the Chinese take advantage of a weakened presidency to stall until 2021? Who knows? Risk here is huge and I have just gone 100% cash.
New Homes Sales Soared 7.1% in August,
to a 713,000 annualized rate. Median sales prices rise by 2.2% YOY to $328,400. Inventories drop from 5.9 to 5.5 months. The big numbers are happening in the south and west. Historically low interest rates are kicking in big time.
FTC Slams Match Group (MTCH),
the owner of Tinder and OK Cupid, for security lapses and scamming their own customers. Apparently, that gorgeous six-foot blond who speaks six languages who want to meet me if I only subscribed doesn’t actually exist. Oh well.
Weekly Jobless Claims Come in at 213,000,
up 3,000. Still stuck at the bottom.