Why Wall Street Loves Trump ‘News’

by Rick Ackerman

Index futures were in a moderate rally Sunday evening as DaBoyz attempted to extract the last ounce of artificial buying power from Friday’s unimpressive short-squeeze. Gold is headed in the opposite direction, down a little more than $7 at the moment. My immediate outlook implies that both are going to reverse, and soon, but we’ll have to see what the news brings and how it moves the markets. Much of it will surely be about Donald Trump, which is all to the good as far as Wall Street is concerned. Not that the banksters necessarily like the guy any more than they do Hillary. But bread-and-circuses journalism serves to keep us distracted from real news — news so unsettling that it could conceivably threaten the complacency of those who have been all-too-eagerly buying shares lately. Even at that, they’ve been unable to push the broad averages appreciably above the old highs. The bull looks winded and ready to keel over dead, but we should never discount the possibility of one final, desperate charge.

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