THURSDAY 10/5/17; Challenger Job-Cut Report; STZ; International Trade; Fed Speak; Factory Orders; IBEX (Spain) Jumps +2.5%; Copper Rallies +3%; SPX, INDU, COMPQ, NDX, RUT and NYA Print All-Time Highs; COST; YUM

Asia and Aussie markets begin trading flat. NIKK +0.1%. Topix +0.1%. ASX 200 +0.1%. South Korea, China and Hong Kong markets are closed for holidays so the session should be quiet.

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President Trump brags about the new all-time record stock market highs. In a tweet, the orange-headed leader proclaims, “Stock Market hits an ALL-TIME high! Unemployment lowest in 16 years! Business and manufacturing enthusiasm at highest level in decades!” The president should know better. If he takes credit for the stock market joy now, he will have to absorb the criticism for a market selloff and recession in a few months.