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A City of Teslas

Daily Recap

Today looked mostly like yesterday's opposite. Despite new 14-month lows on the Shanghai exchange, US stocks are closing well into the plus column.

Yesterday was about big losses for Apple and lesser losses for other tech giants.  But Facebook took off, leading the market higher.

Second guessing about the Fed's rate increase, in the face of a deflationary global outlook, is more prominent today.  The Bank of England's chief suggested maybe it wasn't a great move, adding to the sense that future rate hikes may be delayed or even cancelled.

Precious metals gave back a chunk of recent gains.  How far they fall, and the extent of the succeeding rally, will speak great volumes about any possible big trend change.


A City of Teslas

By Benjamin J. Butler


Seoul, South Korea


I am on a train from Daegu City to Seoul in South Korea to meet a friend. In a sign of our times, he -- a well-respected businessman and ... Log in or subscribe to continue reading.

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