![]() Stocks in Paris and Frankfurt are trading moderately lower.Īmong other assets, Bitcoin continues to churn in the area around $8100. London is smartly lower as Corbyn seemed to hold his own in last night’s debate with PM Boris Johnson. Tokyo, Hong Kong and Shanghai all closed with moderate selloffs. Senate unanimously passed a bill on Hong Kong that could cause China to abandon trade talks. Overnight And Overseas – Most Asian equity markets came under some pressure as the U.S. There is also a mild flight to safety globally, possibly on risk that Senate bill intensifies rioting in Hong Kong. The resultant cloud over the trade talks has equity futures trading lower this morning. China wants a deal but is prepared for the worst-case scenario, a prolonged trade war.” Many believe he speaks for the CCP. Given current poor China policy of the US, people tend to believe the significance of a trade deal, if reached, will be limited. This is what Hu Xijin, the editor of the Global Times, tweeted 4 hours ago: “Few Chinese believe that China and the US can reach a deal soon. Here’s one citation from my friend, Peter Boockvar, of Bleakley Advisors: ![]() While we have not yet heard a response from President Xi, we have heard from others. The bill will now go to conference to produce a single common version. The House had passed its version unanimously a few weeks back. Sure enough the Senate passed its version of the bill unanimously. Traders worried that a veto-proof vote in the Senate could torpedo trade talks with China. One of the things that concerned traders was the post-close vote in the Senate of the bill on the status of Hong Kong. There are also confusing numbers of new highs and new lows, which has produced a number of Hindenburg Omens in recent weeks. Once again, declines beat advances on the NYSE, a continuing erosion beneath the headline space. The post- opening selling continued into late morning and from then on, stocks traded rather indecisively. The Dow had actually opened better but reversed lower before the echo of the opening bell had faded. Kohl’s, Macy’s and other key retailers also got pounded, making the retail sector, as noted, one of the primary casualties of the day’s trading.Īnother sector weighing on the markets was energy, as the threats of new supplies drove the crude price lower. Home Depot dropped a whopping 5%, providing the vast bulk of the drop in the Dow. Weak reports from some key retailers torpedoed that sector as the holiday selling season is just beginning. The stock market action on Tuesday was hardly heroic. And then some guy named Herman Melville read about the Essex and used it for the base of a story of some kind. picked up the reputation of a jinx and could never raise a crew again. The Essex quickly took on water and Chase and the rest of the on-board crew grabbed whatever supplies and instruments they could carry, lowered their whaleboat and joined the captain and the other whaleboats.įor the next 83 days, they sailed exposed to sun and storm for over a thousand miles with crew members dying of thirst or hunger until finally the survivors reverted to eating the remains of the dead to survive.Īmazingly, the majority of survivors returned the Nantucket and returned to the whaling business. ![]() Not through yet, the whale began to swim under the vessel and then turned to ram it in the side. He then raced toward the boat and struck the bow with “ten-fold fury and vengeance” as Chase would describe it. But, when the whale was a little over a quarter mile away, it turned and faced the Essex. The whale drifted away and Chase returned to work on the whaleboat. But, even though he was just 23 years old, his years of experience told him that the whale’s reaction to a harpoon could be violent and damage the Essex, especially since the tail was dangerously close to the ship’s rudder. The first mate’s initial reaction was that this was a gift. What he saw to his amazement was an enormous sperm whale, as big as the Essex itself and floating parallel to the ship. Since the seas were relatively calm, Chase rushed to the rail to see what caused the bump. The captain, George Pollard, Jr, and a large part of the 20 man crew were about a mile away in the three other whaleboats harpooning sperm whales.Īs Chase worked to rejoin the others, he felt the ship bump a bit on the starboard side. November 20 ( King World News ) – Art Cashin: “On this day in 1820, first mate, Owen Chase, was on deck of the three masted whaling ships, Essex, hurriedly tried to repair one of the four whaling boats that had just been damaged in the day’s whale hunt. With stocks pulling back and bonds rallying, today Art Cashin said we are seeing a flight to safety globally.
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