S&P500 futures were rallying over night, this morning, all those gains are gone as the market treds water.
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Morning Thoughts
Morning Thoughts
It was the day before the FED and all was well. Not a rate hike was found stirring before the opening bell. Assets traded with nary a care, in hopes that Saint Yellen would stomp out the last bear. And I heard her exclaim as she flew into the sky, higher asset prices for all and for the S&P500 a new high.
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$IBB Biotech Discount
I'm all for the free market. Let supply and demand dictate price, not 7 or 10 Economic book worms. But when the price of something becomes a life or death matter, it's tough to argue against some 'price fixing', at least from my perspective.
MYLAN's CEO is on CNBC defending the 400% increase in price for the Epipen while taking home an almost 600% increase in salary over the same time. I'd be curious to know what those actually producing the product have seen their compensation grow over the same time. Perhaps 6%? It's really all about the money. That's it.
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Ace In The Hole?
This Friday at 11 A.M est, Janet Yellen speaks. There is a very good chance it will move the market.
U.S. Fed Chair Janet Yellen speaks at the Kansas City Fed’s annual Monetary Policy Symposium in Jackson Hole, Wyoming. Minutes from the Federal Open Market Committee’s July meeting showed officials were split on whether an increase was needed soon. 09:00 local time (11:00 EDT)
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