FRIDAY 6/30/17; EOM (End-of-Month); EOQ2 (End-of-Second Quarter); EOH1 (End-of-the First Half of 2017); Japan Economic Data; China PMI Mfg Index; Canadian Dollar 1.29-Handle; Personal Income and Outlays; Chicago PMI; Consumer Sentiment

Today is the EOM (end-of-month), EOQ2 (end-of-second quarter) and EOH1 (end-of-the first half of 2017). The stock market continues to rally as central bankers maintain accommodative monetary policies. The monthly charts will receive new data points at the closing bell. July trading begins on Monday with a shortened session. The July 4th Independence Day holiday is on Tuesday when US markets will be closed. Stocks tend to favor the bullish side into the holidays.

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THURSDAY 6/29/17; KOSPI 2,400; Euro Prints One-Year High Above 1.14; Pound Tags 1.30; Banks Rally After US Stress Tests; Yield Curves Steepen; US 2-10 Spread Above 91 Bips; CAG; STZ; MKC; RAD; WBA; Q1 GDP (Gross Domestic Product); European and US Stocks Collapse; MU; NKE

Asia and Aussie indexes are trading higher out of the gate following the lead from the United States session. The global stock markets are cascading higher and joyous that central bankers keep providing easy money conditions. The ECB said that President Draghi’s comments on Tuesday were misinterpreted by the market. The US futures and stock market rallied directly after this news that the ECB wants market participants to view Draghi’s statement as more dovish than hawkish. The central bankers are the market.

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President Trump and Russian President Putin plan a short meeting next week at the G20 meeting in Hamburg. It will be the first time the two leaders meet face-to-face.

WEDNESDAY 6/28/17; Petya Ransomware Attack; ECB President Draghi, BOJ Governor Kuroda, BOE Governor Carney and BOC Governor Poloz Speak; GIS; MON; PAYX; UNF; International Trade; Euro Prints One-Year High; Yield Curves Steepening; PIR; WOR; US Bank Stress Tests Part Two

US futures are slightly negative after the selloff in the Tuesday regular session. S&P -2. Dow -9. Nasdaq -5.

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The Blue Apron IPO will price at 10-11 well below the original target price of 15-17. The meal delivery service will trade under the ticker APRN on the Big Board.

TUESDAY 6/27/17; ECB President Draghi Speaks; BOE Governor Carney Speaks; US Yield Curve Flattening with 2-10 Spread at 78 Bips and 5-30 at 93 Bips; Federal Reserve Speak Including Chair Yellen; DRI; Case-Shiller HPI (House Price Index); Consumer Confidence; Richmond Fed Mfg Index; 5-Year Note Auction; Euro Above 1.13; Euro/Yen Above 127; Pound Above 1.28; AVAV; KBH; Petya Ransomware Attack

Brazil President Temer is charged with corruption. It seems that everyone involved in politics and business is corrupt in Brazil, like Mexico. Temer replaced Dilma Rousseff one year ago after her impeachment. Temer is accused of taking multi-million dollar bribes. Brazil remains mired in political turmoil. Court proceedings will begin against Temer if the congress decides to pursue the matter with a majority vote.

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Many companies were pressured into raising their minimum wage so businesses are hiring fewer employees and those workers that keep their jobs are experiencing cuts to hours and ending up with less money in the paycheck. The economists sitting in leather chairs in the Ivory Tower, resting elbows on mahogany desks, are clueless as to how one-half of America lives and works each day.

MONDAY 6/26/17; Italian Banks Bailed-Out; Takata Declares Bankruptcy; Gold and Silver Mini Flash Crash; SCHN; Durable Goods; Chicago Fed Activity Index; Dallas Fed Mfg Survey; 2-Year Note Auction

This is the last week of trading for the first half of 2017. Friday marks the end of the month (EOM), end of the second quarter (EOQ2) and end of the first half of the year (EOH1). The July 4th Independence Day holiday is next Tuesday eight days away when US markets will be closed for trading. US markets will close early next Monday, 7/3/17, so traders are going to be in a holiday vacation mood starting the back half of this week which may create stock market buoyancy into the weekend.

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GOOGL -1.4%. AMZN -1%. AAPL -0.3%. FB collapses -1% after printing a new all-time record high at 156.50. NFLX -0.3%. XLK -0.5%. SOX -1%.

SUNDAY 6/25/17; Eid al-Fitr

In the city of Ahmedpur East, Pakistan, an oil tanker overturns in the street. The huddled masses descend on the truck and begin collecting oil in containers. They call family and friends that run to the scene to collect the oil. Several idiots are smoking cigarettes. Ba-boom. Over 140 souls are incinerated instantaneously in a massive explosion and fire. Others are burned. The huddled masses lose again.

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SpaceX successfully launches another rocket which is becoming routine. The payload on the spacecraft is 10 satellites for Iridium Communications. IRDM should move higher in tomorrow’s trade in the States.

SATURDAY 6/24/17

SPX 2438. INDU 21395. COMPQ 6265. RUT 1415. NIKK 20133. SPASX200 5716. KOSPI 2379. SSEC 3157. HSI 25670. BSE 31138. DAX 12733. CAC 5266. FTSE 7424. MIB 20834. IBEX 10631. PSI 5201.

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The Fox business news block on Saturday morning maintains its strong bullish bias and “buy, buy, buy” cheerleading. The pundits says PKG will rise +30% over the next year. AAL will rise +20%. DEO will rise +40% over the next four years. The bullish commentators tout SIX, FDX, MSFT and DISH as more great long plays for the stock market. Charles Payne stands on a soap box and proclaims that “the rally has a lot more upside to go.” Payne says the “housing sector” will take off to the upside ahead. The future is so bright you have to wear shades.

FRIDAY 6/23/17; European and US Flash PMI Data; BBRY; FINL; New Home Sales; Fed Speak; Russell Index Rebalancing

US futures are flat. S&P +1. Dow +11. Nasdaq +4. Euro 1.1147. Dollar/yen 111.29. Pound 1.2679.

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At 10:30 PM EST, the new moon peaks the darkest time of the month.

THURSDAY 6/22/17; ACN; BKS; HAIN; Leading Indicators; Kansas City Fed Mfg Index; BBBY; Healthcare Stocks Rally after Senate Releases Better Care Reconciliation Act to Replace Obamacare; SONC; US Bank Stress Tests

S&P -4. Dow -30. Nasdaq -7. Euro 1.1168. Dollar/yen 111.32. Pound 1.2675. Aussie dollar 0.7547. Dollar/yuan 6.8295.

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The banks trade marginally higher after the bank stress tests are released. BAC +0.6%. C +0.3%. GS +0.1%. JPM +0.4%. MS +0.4%. WFC +0.4%.

WEDNESDAY 6/21/17; Cascading Global Stock Market Selloff; First Day of Summer; Bradley Turn Date; US Yield Curve Flattens with 2-10 Spread Below 80 Bips; Provident Financial Crashes -20%; WGO; Existing Home Sales; Oil Slips -2.5%; Brent Oil Bear Market; Ethereum Flash Crash; ORCL; SCS

Today is a Bradley turn date. The Bradley siderograph identifies dates in the market where an inflection occurs as either a trend change or sometimes a strong acceleration of the existing trend. The stock market turns typically occur +/- 3 days around the turn date (today) although a window of +/- 7 days is open to allow for the inflection point should it occur (6/14/17 through 6/28/17).

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US and Chinese officials are meeting in Beijing to discuss the North Korea problem. President Trump says, “We have a great relationship with China” watering-down his earlier comments.

TUESDAY 6/20/17; BOE Governor Carney Speaks; Fed Speak Including Vice Chairman Fischer; Oil Collapses -3%; WTIC Oil Prints 42-Handle Now in Bear Market; Brent Oil 45-Handle; LEN; US 5-30 Yield Spread Lowest in a Decade; FDX; ADBE; LZB; RHT

Nikkei Index futures point to a +0.5% open for the NIKK. Australia ASX 200 futures are also up marginally so the cascading global rally continues looping around the world. Moody’s downgraded the four large Australian banks Commonwealth Bank, Westpac, NAB (National Australian Bank) and ANZ Banking Group, yesterday from Aa3 to Aa2. Eight other smaller Aussie banks were also downgraded so this may create a drag on the ASX 200.

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In the Georgia state election, the republican Karen Handel wins the contest. The republicans are proud as peacocks saying the election is a referendum on President Trump and Americans are happy with his performance so far. The democrats shrink back to their corner disappointed in the loss. The liberals and progressives had hoped that a democrat win would set up the mid-term elections in their favor but instead the republicans receive bragging rights.

MONDAY 6/19/17; French Parliamentary Election Aftermath; London Terror Attack; Japan Trade Data; NIKK (Japan) 20K; China Home Prices; Brexit Negotiations Begin; Cascading Global Stock Market Rally; SPX (S&P 500), INDU (Dow Industrials Above 21.5K) and AMZN (Amazon) New All-Time Record Highs; Natural Gas Mini-Crashes -5%; WTIC Oil at 2017 Lows

Euro 1.1197. Euro/yen 124.08. Dollar/yen 110.81. Pound 1.2762. Euro/pound 0.8775. Mexican peso 17.9274. Canadian dollar 1.3213. Dollar/yuan 6.8105. Indian rupee 64.4275. Aussie dollar 0.7621.

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In the evening, Fed’s Evans speaks at New York University.

SUNDAY 6/18/17; Father’s Day; France Election

Today is Father’s Day that honors dad’s and celebrates fatherhood and the adult male influence in the family.

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SATURDAY 6/17/17

SPX 2433. INDU 21384. COMPQ 6152. RUT 1407. NIKK 19943. SPASX200 5774. KOSPI 2362. SSEC 3123. HSI 25586. BSE 31056. DAX 12753. CAC 5263. FTSE 7464. MIB 200941. IBEX 10759. PSI 5274.

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FRIDAY 6/16/17; BOJ Rate Decision and Governor Kuroda Press Conference; OpEx Quadruple Witching; Housing Starts; Consumer Sentiment; AMZN Buys WFM; INDU (Dow Jones Industrials) New All-Time Closing High

Euro 1.1145. Dollar/yen 110.93. Pound 1.2755. Aussie dollar 0.7584. Dollar/yuan 6.8078.

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After the second round of the US Open golf tournament, Ricky Fowler remains in the hunt but the leader board is becoming more crowded at the top. The third round is tomorrow and the final fourth round on Sunday.

THURSDAY 6/15/17; Global Stock Market Indexes at Record Levels; BOJ 2-Day Policy Meeting Begins; WTIC Oil 44-Handle; Brent Oil 46-Handle; BOE Rate Decision; KR; BOBE; Philly Fed Survey; Empire State Mfg Survey; Import and Export Prices; Industrial Production; US Stocks Selloff; Bitcoin Crashes -19%; FNSR

Global all-time and multi-year record highs continue printing for the world’s major stock indexes over the last month. Six of the seven major US stock indexes, SPX, INDU, COMPQ, NDX, RUT and NYA, are at all-time highs with TRAN trying to move higher to confirm the stock market rally from a Dow Theory perspective.

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The best pro golfers in the world are playing at the US Open Championship, the second major golf tournament of the year, at Erin Hills, Erin, Wisconsin, USA. Rickie Fowler is leading after the first round.

WEDNESDAY 6/14/17; London Tower Burns; China Economic Data; Flag Day; Washington, DC, Shooting Incident; Germany’s DAX Record High; CPI (Consumer Price Index); Retail Sales; INDU (Dow Industrials) and NYA (NYSE Composite) All-Time Highs; Business Inventories; Oil Collapses -4%; US 10-Year Treasury Note Yield Prints 7-Month Low at 2.10; US Yield Curve Flattens with 2-10 Spread Under 80 Bips; FOMC Rate Decision, Forecasts and Chair Yellen Press Conference; JBL

Today is the all-important Federal Reserve rate decision and Chair Yellen press conference in the States. Fed Funds futures indicate a 98% chance of a hike today so it is a done deal. Investors are looking for guidance from the Fed concerning another hike this year and want to hear more details about the future plan to unwind the massive $4.5 trillion balance sheet.

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In the Washington, DC, shooting, lawmaker Scalise, the republican majority whip, remains in critical condition due to a bullet in his hip. Six people were hospitalized from the incident. Four were shot including Representative Steve Scalise, a Capitol Police officer, a lobbyist and a congressional staffer. Scalise is the most seriously injured. The shooter, James Hodgkinson of Illinois, dies after the incident shot by Capitol Police.

TUESDAY 6/13/17; PPI (Producer Price Index); FOMC 2-Day Meeting Begins; SPX (S&P 500), INDU (Dow Industrials), RUT (Russell 2000) and NYA (NYSE Composite) All-Time Record Highs; 30-Year Bond Auction; US Attorney General Sessions Testifies; HRB

Euro 1.12. Dollar/yen 109.87. Pound 1.2666. Aussie dollar 0.7544. Dollar/yuan 6.7982. WTIC oil 46.09. Brent oil 48.27. Natural gas 3.02. Gold 1266. Silver 16.94. Copper 2.617.

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The API Oil Inventories are a 2.8 million barrel build instead of a 2.7 million barrel draw expected. Oil prices move lower. WTIC oil 46.10. Brent oil 48.37.

MONDAY 6/12/17; Japan Machinery Orders; Cascading Global Tech Sell Off; UK 10-Year Gilt Yield Prints Under 1%; NYA All-Time Record High; 3-Year and 10-Year Auctions; Bitcoin Crashes -17%

Euro 1.1209. Euro/yen 123.71. Dollar/yen 110.36. Pound 1.274. Euro/pound 0.8798. Mexican peso 18.1477. Canadian dollar 1.346. Dollar/yuan 6.798. Indian rupee 64.2538. Aussie dollar 0.7531.

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After the bell, MRK sinks -2% after drug trials are paused for its myeloma drug Keytruda. XLRN collapses -4% on disappointing drug trials. SAIC is bludgeoned -12% after reporting earnings.

SUNDAY 6/11/17; France Parliamentary Election; Bitcoin Prints 3,000

France is conducting the first round of two rounds of parliament voting. The polls are open and President Macron is seeking a majority to forge ahead with proposed reforms. The second round run-off election is next Sunday, 6/18/17.

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The Pittsburgh Penguins defeat the Nashville Predators to win the Stanley Cup hockey’s most prestigious championship. The Penguins are the champions of the NHL (National Hockey League) for two consecutive years the first time this occurs in 19 years. Penguins center Sidney Crosby is crowned the best hockey player in the world. Pittsburgh and southwestern Pennsylvania stores, restaurants and businesses are benefiting economically from the excitement.

SATURDAY 6/10/17

SPX 2432. INDU 21272. COMPQ 6208. RUT 1422. NIKK 20013. SPASX200 5678. KOSPI 2382. SSEC 3159. HSI 26030. BSE 31262. DAX 12816. CAC 5299. FTSE 7527. MIB 21122. IBEX 10978. PSI 5299. France’s CAC and Portugal’s PSI are the same number.

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Anti-Sharia law protests are occurring in 28 cities in 19 states across America. Western civilization and culture and most importantly the US Constitution are in conflict with strict Sharia law. Muslims must place the US Constitution above Sharia law but many that want to live in America are unwilling. Sharia law is intolerant to the rights of women who serve as second class citizens and are subservient to men. Thousands that believe Sharia law poses a serious and real threat to the Western way of life are participating in the rallies.

FRIDAY 6/9/17; UK Election Aftermath; Prime Minister May’s Conservative Party Loses Parliament Majority; Pound Prints 1.26-Handle; US Wholesale Trade; SPX, INDU, COMPQ, NDX and RUT Print All-Time Record Highs; Tech and FAANG Stocks Sell Off; Flash Crashes and Spikes Occur in AMZN (Amazon), JWN (Nordstrom), C (Citigroup) and VIX (Volatility)

S&P -3. Dow -15. Nasdaq -6. Euro 1.205. Euro/yen 123.29. Dollar/yen 110.04. Pound 1.2819. Sterling fell under 1.28 a short time ago collapsing 2% on news that the Conservative Party will likely not attain a majority in the UK election. Clearly, traders were out of position.

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One week is crazier than the next in the stock market. Today is a wild roller coaster day in the major indexes with flash crashes and flash spikes occurring in Amazon, Nordstrom, Citigroup and volatility.

THURSDAY 6/8/17; Japan GDP; China Trade Data; UK Elections; ECB Policy Meeting, Rate Announcement and President Draghi Press Conference; SJM; MTN; Former FBI Director Comey Testifies Before US Senate; INDU (Dow Industrials), COMPQ (Nasdaq Composite) and NDX (Nasdaq 100) Print All-Time Record Highs; PAY; UK Conservative Party to Lose Majority

Today is a trifecta of political and economic drama with three key events happening. First, the UK election is on tap pitting Prime Minister Theresa May and her Conservative (Tory) Party against challenger Jeremy Corbyn and his Labour Party with polls opening in a few hours.

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The full moon peaks for the month tomorrow morning at 9:09 AM EST (2:09 PM London; 3:09 PM Central Europe) and the stock market is typically bullish moving through the full moon about 65% of the time.

WEDNESDAY 6/7/17; RBI Rate Decision; Spain’s Santander Buys Troubled Banco Popular; Eve Before UK Election, ECB Meeting and Former FBI Comey Testimony; Oil Plummets -5%; WTIC Oil 45-Handle

S&P -1. Dow -3. Nasdaq +2. Euro 1.1273. Dollar/yen 109.44. Pound 1.2906. The Aussie dollar is above 0.75 to 0.7513. Dollar/yuan 6.7952.

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Janus’s Bill Gross, the bond king, says, “US market risks are the highest since the 2008 financial crisis.”

TUESDAY 6/6/17; RBA Rate Decision; US 2-10 Yield Spread Drops to 85 Bips; South Africa in Recession; CONN; GIII; MIK; THO; JOLTS (Job Openings) Report; NDX (Nasdaq 100) All-Time Record High; US 10-Year Yield Prints Low for Year at 2.129%; Bitcoin Record High; AMBA; PLAY; UNFI

Today is the 73rd anniversary of the June 6, 1944, D-Day invasion during World War II that began the Battle of Normandy. 160,000 American, British and Canadian soldiers hit the beaches of Normandy in the largest amphibious military operation ever conducted in human history. 9,000 were killed and wounded on those bloody beaches.

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The API Oil Inventories are a 4.1 million barrel build when a 3.5 million drawdown was expected. Oil prices will drop. Gasoline and Distillates are builds. WTIC oil drops under 49 to 47.97. The EIA Oil Inventories are released at 10:30 AM EST tomorrow.

MONDAY 6/5/17; Global PMI Services and Composite Indexes; Productivity and Costs; Factory Orders; Cryptocurrency Ethereum Prints Record High; Banco Popular Crashes -17%; GOOGL Tags 1,000 Level; COMPQ (Nasdaq Composite) and NDX (Nasdaq 100) New All-Time Highs

Euro 1.1279. Euro/yen 124.59. Dollar/yen 110.47. Pound 1.2874. Euro/pound 0.8765. Mexican peso 18.7057. Canadian dollar 1.3491. Dollar/yuan 6.81. Indian rupee 64.44. Aussie dollar 0.7435. USD 96.66.

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In the evening, President Trump vows to calm the rift between the Arab nations. The president wants to deescalate the Qatar crisis.

SUNDAY 6/4/17; London Bridge Terrorist Attack Aftermath

After the London Bridge terrorist attack, President Trump makes a pitch for his travel ban executive order that remains tied up in US courts. Trump tweets; “We need to be smart, vigilant and tough. We need the courts to give us back out rights. We need the Travel Ban as an extra level of safety!”

Eight minutes later, President Trump 






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Over 55K people choose to mourn, and sing and dance, together after the heinous Islamic terrorist attack. Western society will always win against Muslim radicalism. The British Red Cross has raised 10 million pounds ($12.9 million) thus far to aid the families impacted by the attack including about 2.3 million pounds ($3 million) directly from the concert.

May Publication of the Daily Chronology of Global Markets and World Economics 2017-05 is Available from Amazon; Global Stock Market Melt-Up; SPX, INDU, COMPQ, NDX, NYA, NIKK, KOSPI, BSE, DAX and FTSE Record Highs; SPX 2400+; INDU 21.1K+; COMPQ 6200+; NDX 5800+; Bitcoin 2792; Gold Golden Cross; WTIC Oil Death Cross; WTIC Oil 43; Brent Oil 46; Macron Elected President of France; Trump Fires FBI’s Comey; North Korea Turmoil; Venezuela and Brazil in Crisis; Puerto Rico Bankruptcy

The May Publication of the Daily Chronology of Global Markets and World Economics 2017-05 is available through Amazon. The historic market action continues with more all-time stock market highs printing in the major indexes around the world. The one-half of the United States that owns stocks are joyous day after day while the other half of the United States, that do not own stocks, watch the rich get richer while they become poorer.

The huddled masses continue struggling through eight years of high unemployment and debt. The gap between rich and poor in America is the widest in five decades. The United States is experiencing a gilded age (created by the Federal Reserve and other global central bankers); a society of the have’s and the have not’s.

May Cover Highlights;

GLOBAL STOCK MARKET MELT-UP

SPX, INDU, COMPQ, NDX NYA, NIKK, KOSPI, BSE, DAX and FTSE RECORD HIGHS

SPX 2400+

INDU 21.1K+

COMPQ 6200+

NDX 5800+

BITCOIN 2792

GOLD GOLDEN CROSS

WTIC OIL DEATH CROSS

WTIC OIL 43

BRENT OIL 46

MACRON ELECTED PRESIDENT OF FRANCE

TRUMP FIRES COMEY

NORTH KOREA TURMOIL

VENEZUELA AND BRAZIL IN CRISIS

PUERTO RICO BANKRUPTCY

The May chronology highlights the drama around the French election and President Macron’s rise to power. The 2017-05 publication chronicles the market reactions to the 5/5/17 and 6/2/17 US Monthly Jobs Reports. The world remains in turmoil with North Korea shooting off missiles, Venezuela and Brazil in chaos and radical Muslims carrying out terrorist attacks. Puerto Rico goes bankrupt with over $70 billion in debt and no money to pay. Despite the geopolitical drama and lackluster economic data, the stock market is pumped higher by central banker easy money. The central bankers are the market.

The chronology explains the price moves in global stock, bond and currency markets to key geopolitical events, central bank monetary policies and economic data releases. If you are trying to make sense of the markets this is the resource for you. No other publication exists where the stock, bond and currency moves are detailed and explained as world events take place in real-time.

You can re-live the real-time price moves and excitement in markets for any past events including Brexit (2016-06 and 2016-07), the US election (2016-10 and 2016-11), the drama behind the French election (2017-04 and 2017-05), economic data releases, monthly jobs reports, Fed meetings, etc...

As always, all monthly publications of the Daily Chronology of Global Markets and World Economics are available from the links in the margins of the K E Stone blog sites or simply searching on Amazon or Google. The monthly publication contains updated information not posted on the Keystone the Scribe web site as well as clarifications, edits and refinements to the ongoing daily blog text.

The June 2017-06 chronology is tentatively set for publishing by Amazon on Saturday, 7/1/17.

SATURDAY 6/3/17; London Bridge Terror Attack

SPX 2439. INDU 21206. COMPQ 6306. RUT 1405. NIKK 20177. SPASX200 5788. KOSPI 2372. SSEC 3106. HSI 25924. BSE 31273. DAX 12823. CAC 5343. FTSE 7548. MIB 20928. IBEX 10906. PSI 5317.

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At 10:08 PM London time (6:08 AM Sunday morning Tokyo; 11:08 PM Frankfurt and Paris; 5:08 PM EST), a van is swerving on and off sidewalks on the London Bridge aiming at people. The scene is horrifying with bodies strewn about as the van crashes. Three deranged nutcases exit the rear of the van and begin running towards the Borough Market area in London where many people are out for Saturday night fun. The song and dance turns to mayhem and horror as the three killers begin stabbing and slicing people with machetes while yelling, “Praise to Allah!”

The Muslim terrorists kill six people and would nearly 50 during the rampage. Police shoot the three murderers dead. Blood spills into the River Thames. UK authorities brag that they ended the situation in eight minutes but that is a long time during an attack. Killers can perform a huge amount of damage in eight minutes as they did. The government has taken away guns from citizens in London and Paris so the public now serves as sitting ducks. In the States, an honest citizen licensed to carry a concealed gun could have shot the killers faster than eight long minutes.

UK PM May calls an emergency security meeting. It is going to be a long night ahead for Britain. Two major terrorist attacks (Manchester and now the London Bridge) hit the UK in less than two weeks time. The travel industry will be seriously hurt. Travelers planning to visit London are definitely rethinking or changing their plans. London is under siege.

FRIDAY 6/2/17; Cascading Global Rally; NIKK (Japan) Prints 20,000; Paris Climate Change Accord Aftermath; Oil Tanks -3%; WTIC Oil 46-Handle; Brent Oil 48-Handle; BSE (India), DAX (Germany) and FTSE (London) Record Highs; VMW; GOOS; US Monthly Jobs Report; Yield Curve Flattens; 2-10 Treasury Spread Drops to 86 Bips; 10-Year Yield Prints Low of Year at 2.144%; SPX, INDU, COMPQ, NDX and NYA All-Time Record Highs; Dow 21.2K

US futures are flat after the healthy rally in the 








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The ECB and BOJ balance sheets are larger than the Federal Reserve’s massive balance sheet which should create worry but investors do not care since they are too busy buying stocks at the ask. The VIX is at 9.75 at multi-decade lows verifying the ongoing complacency and fearlessness.

THURSDAY 6/1/17; Global PMI Mfg Indexes; China Caixin PMI Drops Below 50; CIEN; DG; EXPR; BOX; SPX (S&P 500), INDU (Dow Jones Industrials), COMPQ (Nasdaq Composite), NDX (Nasdaq 100) and NYA (NYSE Composite) Print All-Time Highs; President Trump Ditches Paris Climate Change Accord; AVGO; COO; FIVE; LULU; RH; WDAY; ZUMZ

Today is the first trading day of 












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... seeks the limelight by posting his first-ever message on Twitter; “Today’s decision is a setback for the environment and for the US’s leadership position in the world.” GS and the other greedy investment banks are disappointed they will not be handling all the money and charging fees for the Paris climate change program.

WEDNESDAY 5/31/17; EOM (End-of-Month); China PMI Data; KORS; ADI; PRGO; JILL; Chicago PMI; COMPQ and NDX Print All-Time Record Highs; US Dollar Index 96-Handle; Oil Tanks -4%; Brent Oil Sub 50; Beige Book; 10-Year Yield Drops Under 2.20%; 2-10 Yield Spread Dips to 91 Bips; AAPL, AMZN, CRM, FB, GOOGL, HD, MSFT, NVDA, NFLX, PCLN, SBUX, ULTA and V Print All-Time Record Highs in May; HPE; PANW

Asia and Aussie indexes are flat to lower in the early going. NIKK -0.3%. 









[Text is redacted. Purchase the 2017-05 chronology to enjoy May's economic and market history including new all-time highs in the stock market.]

Volatility is at multi-decade lows in May and the VIX prints a record low average reading for the month. The VIX fell to 9.54 during the month.