The Market, Energy, And Political Page, Part 3, T+51 -- October 3, 2018

Early morning market: all four major indices on a tear; up again. Rumor: Fed chairman Jerome Powell to call emergency Federal Reserve meeting -- to discuss raising "Fed rate" to 6% before Halloween (from the current 2.25% or thereabouts) in attempt to cool economy. Deep State deeply concerned that "making America great again" is going too far. 

Apple watch: I am absolutely amazed to see all the folks I see wearing the Apple Watch. Speaks volumes about so many things right now.

Opening bell:

• three of four major indices up; Russell 2000 continues to struggle; NASDAQ below 52-week high but trading above 8,000; 
• NOG: holds gain on opening; up almost 1.5%
• OAS: up slightly
• JAG: up half a percent
• all majors: up at least a bit; some more than others
• XLNX: up almost 2%
• UNP: up about 3/4ths percent (thank you Ms LaDuke)
• SRE: down slightly
• BRK-B: up a bit

Word of the day: avoirdupois -- second meaning. 

Inquiring minds want to know: .... and the Saudis would want to put "a lid on oil prices" -- why?

Jobs! Are you kidding me! Making America great again -- it will be a sad day when Trump leaves office. The US added a "robust 230,000 jobs in September." From the AP:

U.S. businesses added a robust 230,000 jobs in September, a private survey found, a sign that strong economic growth is spurring companies to add more workers.

Payroll processor ADP said Wednesday that September's job gain was the most in seven months. It followed 168,000 new jobs in August, a figure that was revised slightly higher.

Hiring was strong across most major industries. Construction firms added 34,000 jobs, while professional and business services, which includes higher-paying jobs such as engineering and accounting as well as temp workers, added a strong 70,000. Education and health services added 44,000 jobs.

ADP's report comes a day before the government releases jobs data for September. Economists believe Friday's report will show that employers added 183,000 jobs, according to data provider FactSet.

"The labor market continues to impress," Ahu Yildirmaz, vice president of the ADP Research Institute, said.

Steve Liesman must be going nuts. It makes no sense.

As Fed chairman said the other day: "the economy might be too good to be true." One almost gets the feeling that the Fed is behind the proverbial 8-ball in its attempt to slow down this economy. Fortunately "we" have the EU that will do that for us -- slow down the global economy, thus slowing the US economy to some extent. Saved by France.

And Trump, of course, has nothing to do with this. After two lost decades under Bush II and Sir Saint Obama. 

Banks -- not too big to fail. Sounds like the Fed chairman is getting an earful from the likes of Jamie Dimon. From Yahoo!Finance:

The Federal Reserve is developing new rules that would change how it defines a big bank and potentially lower regulatory costs for a broader number of financial institutions.
As part of a series of rule changes under consideration, the Fed is preparing to revise asset size and other thresholds in its capital and liquidity rules, according to people familiar with the matter.

Sarbanes-Oxley; Dodd-Frank; Elizabeth Warren-Pocahontas -- past and future disasters.