TUESDAY 7/25/17; MMM; UTX; CAT; DD; GM; LLY; MCD; AKS; ATI; BIIB; DPZ; FCX; GPK; HCA; JBLU; KMB; MDR; NEM; PCAR; PHM; SVU; German IFO Business Sentiment Strong; Copper and Oil Rally +4%. Brent Oil Above 50; VIX (Volatility) Plummets to Historic Low 9.04; Euro Prints Above 1.17; FOMC Two-Day Policy Meeting Begins; Housing Data; Consumer Confidence; 2-Year Note Auction; SPX, COMPQ, RUT and NYA Print All-Time Highs; AMD; AKAM; AMGN; T; CMG; ESRX; JNPR; TRN; TXN; UHS; WYNN; X; ZION

Aussie and Asia stocks begin trading higher. NIKK +0.2%. Topix +0.1%. The BOJ releases meeting minutes that do not contain any surprises. ASX 200 +0.6%. All sectors trade higher in Australia except for energy and telecom. Aussie healthcare stocks jump +1.6% and industrials are up +1%.

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President Trump says Janet Yellen and Gary Cohn are the front runners for the Federal Reserve top job next year. Yellen’s term ends in January-February only six months away. Trump releases this information probably to distract away from the ongoing Whitehouse drama. Yellen does not appear interested in another term. Her health may not be the best. Trump likely realizes he will need a dovish Fed for the next few years to keep goosing stocks higher and continue the illusion that the economy is doing well.