THURSDAY 11/20/14; Global Flash PMI's; CPI (Consumer Price Index); Fed Speak; BBY; DLTR; Philly Fed Survey Shock and Awe; Existing Home Sales; SPX, INDU and AAPL All-Time Highs; GPS; MRVL; President Obama Announces Immigration Plan by Executive Order

Dollar/yen 118.16. Japan exports are up +9.6% year on year beating expectations and last month’s +6.9% rise but imports are up +2.7% missing the +3.4% expectations and under last month’s +6.2%. The aging population in Japan is slow to spend money but the weaker yen is boosting exports. The NIKK begins trading marginally higher due to the weaker yen. 













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 Fed’s Williams expresses concern over low global growth with interest rates at long-time lows. Williams is worried that economic growth and recovery is not as strong as prior recoveries.

Race riots and unrest are increasing in St Louis ahead of a grand jury decision concerning the police shooting of the unarmed black teenager. Recent reports indicate that the youth may have attacked the officer. If the police officer is not indicted, violence will occur. A crowd forms outside the Ferguson Missouri police station and several rioters arrested.

President Obama speaks in the evening using executive powers to grant amnesty to illegal aliens. The president poisons the well between democrats and republicans as both parties will now focus on the presidential election two years away rather than govern properly. Washington, DC, is dysfunctional with non-stop baby games. The president says that Congress would not act with immigration legislation over the last four years forcing him to act but he conveniently leaves out the fact that he had a Congress with a democratic majority and could have easily passed the immigration legislation the two years prior. Each side is guilty of incompetence. The majority of Americans are unhappy with the president’s unilateral actions. Most American’s declare a pox on both their houses. Futures are unaffected.