Wednesday, October 15, 2014

WEDNESDAY 10/15/14; Hong Kong Violence; Greece 10-Year Yield Above 7%; BAC; BLK; PPI; Empire State Mfg Index; Retail Sales; US 10-Year Yield Drops to 1.868%; US Stocks Collapse and Recover; Beige Book; AXP; EBAY; NFLX; URI; Operation Inherent Resolve

The Hong Kong protests turn violent and ugly with pro-democracy demonstrators and police clashing in the worst violence since the initial evenings of the protests about two weeks ago. Police are beating the students with batons. A video shows police pulling a protestor from the crowd and beating him to the point where he had to be rushed to the hospital. Hundreds of Hong Kong police use pepper spray on the protestors while continuing to disassemble and remove the barricades. Th


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URI, a darling of long traders for the last two years, reports an earnings beat on top and bottom lines and gains +2.2%. Las Vegas Sands earnings EPS is in line but the top line is light. LVS trades +1.9% higher after announcing a divvy increase.


The Whitehouse finally names the military operation in Syria and Iraq calling the mission “Inherent Resolve” which is met with moans. Usually the names denote stronger themes to encourage the troops such as Operation Desert Storm. Operation Inherent Resolve is an odd selection and the president’s detractors instead call the new war “Incoherent Resolve”. President Obama is taking the ISIS radicals and Ebola outbreak more seriously cancelling several fund-raising parties. With the world spinning out of control, Americans are happy to see the Commander in Chief at the Whitehouse providing leadership. 

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