Registered Investment Adviser Caleb Lawrence
After a slightly lower opening the major averages enter the final hour with small gains following yesterday’s drubbing. While questions swirl around Trump and his administration, impeachment is highly unlikely at this juncture.
The Philadelphia Fed regional index shattered expectations with a 16.8 point gain to 38.8 a figure more than double expectations, despite small declines in new orders and employment.
Scandal plagued market manipulator Deutsche Bank got sued in Italy for running an international criminal organization following revelations that it helped Banca Monte dei Paschi conceal losses ahead of its near collapse and government bailouts. Given the history of bankster malfeasance both here and abroad in the post financial crisis era since 2007 I can’t say as I’m surprised. What is surprising however is that despite literally 10’s of billions in fines, a list of regulatory sanctions as long as Manhattan the number of banksters actually convicted and sent to jail is less than 10 if memory serves. In contrast to the emissions cheating scandal by Volkswagen/Audi at least 2 executives have been jailed as the company faced fines in excess of 14 billion and that is just for starters.
With impeachment, highly unlikely the major averages mark small gains. Philly Fed jumps. Deutsche Bank is criminal?