"Recession Is Right Around The Corner" -- September 11, 2019

US equity market surges.

• Dow up almost 230 points; closes above 27,000 (again).
• S & P hits 3,000 (again).
• Nasdaq extends above 8,150.

But, but, but ....

• Bernie: resist!
• Buttigieg: change course!
• Beto: re-set!
• Biden: what just happened? We need to get back to "normal."

One can't have it both ways:

• rule of thumb: stock market "looks out" about six months
• with the market surging as it is now, it's hard to buy into an argument "we" are facing a recession between now and March, 2019 -- though we will hear a lot about "October" is the worse month for the stock market
• March, 2020. Eight months until the election. You really think Trump/GOP will let economy move into recession? Sure, it could happen.
• Russia, Russia, Russia. Then, recession, recession, recession. Next: 

Futures, 8:38 p.m. CT, September 11, 2019: Dow up another 149 points. XLNX moving in pre-market.

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Gasoline demand weekly data pending.

US Supreme Court sides with President Trump. Only two dissents: RBG and Sotomayor.

Wow, what a day.

Equities:

• AAPL: up almost $7/share by the close; up another $1.30 after hours; after hours, trading at $225
• EW: unchanged at $218
• SRE: up 1% to $143, near 52-week high
• OKE: at $74; within pennies of a 52-week high
• T: an old stodgy widow's stock up 3% today 
• AMGN: after surging this past week, drops back below $200
• UNP: well off its 52-week high but showing strength