Tokyo Highs, Priceline Lows, and Bitcoin at $7,100

[MUSIC PLAYING] Good morning It's Tuesday, November 7th

This is John Gillin from your morning NewsWire, and there are a few things going on this morning Tokyo has hit highs since 1992 Try and do the math on that And Bloomberg had an article that said the party has just begun That's a little toppy, Bloomberg

Let's recall, percentage of debt to GDP is absurd over there At some point, that catches up But it's not today China is up 3/4 of a percent Tencent, which is one of our favorites

Steve Sjuggerud China Literature, which is an IPO that's coming– I believe an IPO that's coming– is trading higher in the gray market And they're getting into autonomous driving I really don't want anybody named autonomous driving me Europe's a snore

Gold and silver and copper are down They at big rallies yesterday Bitcoin is at $7,100 and some dude from the CME said it's a new asset class like stocks and gold However, they've got no cash flow Not sure how that becomes a asset class

The dollar is stronger on North Korean tweets We're going to see a lot of those in the next couple of days In DC, the tax bill Senate should come up with their plan next Thursday That will be debated until we are old and gray

White House Approval at new lows, but nobody cares The polls are irrelevant So let's move on from there Japan is in talks to buy an Aegis missile systems

So remember, Boeing has been the Trump stock of all time We're going to get new governors in Virginia and in New Jersey And president wanna be Christie is off to Krispy Kreme donuts Stocks The FAANG stocks are up 32% year-to-date

Account for 32% of the gains in the S&P NAFTA gets negotiated That is next week, so keep that in mind for a lot of rails And retail earnings to close this season will be next week There was a quote from a CEO of fast retailing UNIQLO which is a giant overseas says he's got no interest in buying any retailers here

Microsoft Xbox One X did come out How many mines have been lost in Minecraft? Well, there are more coming In earnings The positives were Weight Watchers Go, Oprah

IFF, which is a perfume GoDaddy Go Danica And then in oil, FANG had much better numbers And also the real junky generic Valiant actually got a reprieve and is up this morning

On the negative side, Priceline is down $190 That can happen, folks You get $1,000 stocks, they miss, they can drop like that Also had misses from AMC– movie theaters, of course We've been cautioning folks on rental car companies

So Avis had a lousy quarter Anything opticals, bad FN, miss badly Red Robin Burgers Can't quite understand that, but that is hammered down 20 this morning

Tenet Healthcare is a bad stock TripAdvisor's down ZEO, Knight Transportation, and Crocs And who wears Crocs? It's like riding a Vespa In M&A, Disney and Fox were rumored yesterday

That's not going to happen It's like Discovery and Scripps These are bad businesses Cable sucks SNAP does report tonight

And I want to end with West Texas Crude That hit $57 Remember, when it was $40, so that's the highest in two years Massive corruption crackdown in Saudi Arabia There was a missile attack in Riyadh

That may be a little overblown, but sorry for the pun Bank accounts are frozen and OPEC– OPEC got their wish They wanted to cut down on production They will have a world oil outlook later today, and we also get some west Texas news from the API on inventories So interesting to look at an overlay of crude with 10 year bond yields, and 10 year bond yields look like they are going to move up

Anyway, fact for the day Got a pretty benign morning coming in Thanks very much for your time Have a good day If you like what you heard today, please like this video, and let us know in the comments below

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