trying to get up to speed here, lurker here too.
did this baker just forget the bread was ending as it appears or ?. If you are the b from later in mornings the dough/paste issues still exist for me so we can do the thing we talked about when you need to depart. If not then I will stay in lurk mode.
peace for you and yours sa as always
SEC Slams "Ridiculous" Elon Musk "Reckless Conduct" In Contempt Motion Response
On Monday night, the Securities and Exchange Commission responded to Elon Musk's "contempt" defense, shredding Musk's arguments and making it clear that the regulatory agency will not back down in its attempt to get Musk held in contempt of court following a February tweet regarding Tesla's production guidance.
Musk had argued against the contempt of court motion days ago, with his well-paid lawyers bizarrely calling it an "unconstitutional power grab". Musk's lawyers argued, on his behalf, that production numbers - the lifeblood of the company's relationship to Wall Street - were immaterial, also claiming that the Tweet "dutifully complied with the [settlement] Order".
The SEC made it clear in their response that they saw things very differently. They eviscerated the argument that production numbers were somehow not material, arguing:
"Musk’s recognition of the significance of Tesla’s vehicle production forecasts to investors is evidenced by the frequency with which he and Tesla highlight such forecasts in their public statements. For years and continuing through the company’s most recent earnings release, Tesla and Musk have prominently featured vehicle production forecasts in their public communications, including Tesla’s investor letters, Musk’s tweets, and the company’s filings with the SEC.
While some companies emphasize forward-looking guidance on financial metrics such as revenue and earnings per share, Tesla often highlights guidance regarding expected production rates and deliveries. Given this focus on Tesla’s production capabilities, Musk cannot credibly argue that his statement, as Tesla’s CEO, that the company ‘will make around 500k’ cars in 2019 could not have reasonably contained information material to Tesla and its investors.”
The SEC continued, referring to Musk's Tweet as "reckless conduct" and calling it "stunning" that Musk had not sought pre-approval for a single Tweets about Tesla since his settlement forcing him to do just that:
"The pre-approval requirement was designed to protect against reckless conduct by Musk going forward. It is therefore stunning to learn that, at the time of filing of the [contempt] motion, Musk had not sought pre-approval for a single one of the numerous tweets about Tesla he published in the months since the court-ordered pre-approval policy went into effect. Musk reads this Court’s order as not requiring pre-approval unless Musk himself unilaterally decides his planned tweets are material. His interpretation is inconsistent with the plain terms of this Court’s order and renders its pre-approval requirement meaningless."
The SEC did not request specific relief in its brief. Before the night was over on Monday, a letter from Musk's attorneys hit the docket, requesting the court's permission to file a sur-reply by March 22 to respond to the SEC as all signs point to Musk wanting to continue his fight, head on, with the regulatory agency.
The SEC has been looking to hold Tesla CEO Elon Musk in contempt for breaching a court ordered settlement that Musk slithered away with as a result of his fraudulent tweet from last summer claiming he had funding secured for the buyout of Tesla at $420 per share. After the SEC alleged that a recent Tweet from February 19 was in violation of Musk's court order to have his social media posts pre-approved by a lawyer, Musk responded to the SEC action in late February by calling the agency "embarrassing".
rest at link including link to filing.
https://www.zerohedge.com/news/2019-03-19/sec-slams-ridiculous-elon-musk-reckless-conduct-contempt-motion-response
pre-markets are very thin and can be moved around easily. It is done to mask the true intent of the direction. This is often why you see futures up a bit and the index's drop shortly after it opens.
was not my op and I will have the normal futures stuff in a bit. How cramer has an audience at this point is beyond comprehension. If you have time look up leonard the wonder monkey. It's from several yrs ago, Basically it shows how a monkey can do as good, if not better, than cramer. It's entertaining if nothing else.
Euphoria: World Stocks In Longest Winning Streak Since Oct 2017
Reminder that the FOMC meeting begins today and the release will be tomorrow along with an economic projection report-these are done 5x a year.
Defying all calls for a reversal to the extended stock rally, US equity futures continued to climb overnight ahead of tomorrow's "either dovish or extremely dovish" FOMC meeting, rising alongside European stocks on Tuesday which snapped higher following a subdued session for Asian stocks as the Stoxx 50 printed 2019 highs, while the DAX stalled just shy of its 200DMA.
As a result, global shares enjoyed their longest winning streak since Oct 2017 ahead of a Federal Reserve meeting, while the pound jumped as algos bought the British currency after another dramatic twist in the Brexit plot bolstered bets on a lengthy delay to the process.
With traders expecting nothing but more good news from the Fed’s two-day meeting which starts later, which is expected to cut its "dot" forecast to just one rate hike in 2019 and at most one more in 2020, Europe’s early gains lifted MSCI’s All world index for a seventh straight day, the longest streak of consecutive gains since Oct 2017, and to its highest since October.
In Europe, the Stoxx 600 Index advanced after a quiet start, as almost every sector turned green. Autos, basic resources and retailers lead indices higher, construction and real estate names underperform but trade little changed on the day. Earlier in the session, Asia traded in a tight range as equities posted modest losses in Japan, China and Australia, but they rose in Hong Kong and India.
S&P futures rise over 11 points, rising to a fresh 5 month high and set for another green session after bank and tech stocks helped extend the year’s 20% charge for U.S. markets on Monday.
Meanwhile, price action remained muted in the bond space as Germany and US yield curves bull flatten at the margin. Gilts outperform, printing higher-highs since last
In FX, sterling rebounded back over 1.33 after slipping to as low as $1.3183 in the previous session as lawmakers cast doubt on Prime Minister Theresa May’s third attempt to get parliament to back her Brexit deal. As Reuters notes May’s Brexit plans were thrown into further turmoil on Monday when the speaker of parliament ruled that she could not put her divorce deal to a new vote unless it was re-submitted in fundamentally different form. May has only two days to win approval for her deal to leave the European Union if she wants to go to a summit with the bloc’s leaders on Thursday with something to offer them in return for more time. Meanwhile, senior diplomats said the European Union leaders could hold off making any final decision on any Brexit delay when they meet in Brussels later this week, depending on what exactly May asks them for.
“The predominant notion adopted by the market is that as long as the worst case scenario of hard Brexit is avoided by delaying Brexit, the pound is a buy on dips,” Rabobank strategists said in a note, however adding that "In the coming days faith amongst traders in an ability of UK MPs to make rational decisions could fade rapidly and cause a major selloff in GBP."
The dollar was again feeling the strain of a dovish Fed, sliding to a two-week low on the bets that with both U.S. and global growth now slowing the Fed will need to put its rate hike plans on ice.
rest at link
https://www.zerohedge.com/news/2019-03-19/euphoria-world-stocks-longest-winning-streak-oct-2017
https://www.bloomberg.com/markets/stocks/futures
https://www.dailyfx.com/crude-oil