WEDNESDAY 1/18/17; C; GS; USB; SCHW; FAST; CPI (Consumer Price Index); Industrial Production; Beige Book; Fed Chair Yellen Speaks; KMI; NFLX Prints Record High on Earnings

Australia’s ASX 200 is down -0.6% to 5666. New Zealand stocks sink -0.3%. In Japan, the NIKK and Topix indexes begin trading down -0.5% on a stronger yen (the dollar/yen pair is under 113). Korea’s KOSPI trades down -0.2% as Samsung’s executive Jay Lee arrives for a hearing to face corruption charges.

[Text is redacted. Purchase the 2017-01 chronology to enjoy January's economic and market history including Dow 20K and SPX 2.3K.]

The parties for the rich and famous continue in Davos. Pot-bellied billionaires pinch the bottoms of leggy waitresses that enjoy bending over while serving expensive brandy. A hilarious quote is being repeated by attendees at the event; “Davos is where the billionaires tell the millionaires what the middle class feels.”