Last month, libertarian and multiple campaigner for president Ron Paul made headlines with his gloomy prediction that the stock market, plagued by an overrated recovery for the U.S. economy, could plunge 25% by October. <\/p>\n
Obviously, not much in the way of positive news has come along since then to change his views. In fact, he just took his bearish outlook up a few notches. <\/p>\n
A 50% pullback is conceivable, he told CNBC, earning our call of the day. I dont believe its 10 years off. I dont even believe its a year off. <\/p>\n
That kind of damage would bring the S&P SPX, +0.99% down to 1,212 and the Dow Jones Industrial Average DJIA, +0.90% to 10,837. <\/p>\n
But Paul isnt jumping on the increasingly crowded anti-Trump bandwagon, as least as the president pertains to whats happening in the stock market. <\/p>\n
Its all man-made. Its not the fault of Donald Trump in the last week, he said. If the market crashes tomorrow and we have a great depression, he didnt do it in six months. It took more like six or 10 years to cause all these problems. <\/p>\n
Nothing so dire as yet, but stocks have been getting beaten up a bit lately, especially the Nasdaq COMP, +1.36% , which has dropped four straight weeks. The Dow and the S&P are in the midst of two-week losing streaks. <\/p>\n
As for Trump, here he is relishing the job: <\/p>\n
Another losing stretch for the major indexes could be in the works, if the premarket action is any indication. Not much green so far. Futures for the Dow YMU7, -0.16% and the S&P ESU7, -0.19% are slightly lower this morning, following a mixed session in Asia ADOW, -0.05% Europe SXXP, +0.83% is also off to a sluggish start. See the Market Snapshot column for the latest action <\/p>\n
So, when does bitcoin BTCUSD, +0.59% become a key part of your diversification strategy? If youre lucky, it already has. <\/p>\n
As you can see from this chart by Grayscale, just a small piece of the crypto market can make a massive difference in your returns. At least over the past year, in which bitcoin and other digital currencies have gone nuts. <\/p>\n
This illustration is part of a package of 26 charts compiled by Real Vision called, Killer charts from the smartest investor. <\/p>\n
Read: Bitcoin $25,000? More proof of the crypto bubble. <\/p>\n
The removal of Bannon is the end of even a facade of populism. This is now the Goldman GS, +1.26% Presidency with a thin-skinned, unthinking authoritarian as a figurehead Michael Krieger of the Liberty Blitzkrieg blog. <\/p>\n
Also, this just in: The L.A. Times is NOT a big Trump fan. <\/p>\n
30% Thats how many customers are now using the Starbucks SBUX, +2.45% app to pay for their orders. The coffee sellers huge success with its mobile approach has Silicon Valley taking notice. Read more from Barrons. <\/p>\n
Ubers search for a replacement for CEO Travis Kalanick has led to former General GE, +0.45% Chairman Jeff Immelt, who has emerged as the front-runner candidate, according to numerous sources cited by Recode. <\/p>\n
Teslas TSLA, +1.03% Elon Musk and 115 other tech leaders are sounding the alarm on autonomous weapons and urging the U.N. to take action. <\/p>\n
Sempra Energy SRE, -0.10% reached a whopping $9.45 billion deal to buy Texas utility Oncor Electric Delivery Co. Oncors parent is the bankrupt Energy Future Holdings Corp., and rumors have been flying for months over who might buy the unit. <\/p>\n
French oil giant Total TOT, +1.41% FP, +1.50% has agreed to buy Danish conglomerate A.P. Moeller-Maersks AMKBY, +2.11% MAERSKB, +2.35% oil unit in a $7.45 billion deal, the latest sign activity is returning to the sector following crudes three-year slump. <\/p>\n
Fiat Chrysler FCAU, +0.22% FCA, +0.26% looks set for an up day after Chinas Great Wall Motor Co. 2333, +1.61% reportedly expressed interest in buying the Italian-American car maker. <\/p>\n
Not much on the docket in terms of data today, though the Chicago Fed National Activity Index hits at 8:30 a.m. Eastern Time. The reports that will draw the most attention will be released midweek, when well get a look at new and existing home sales. <\/p>\n
The Jackson Hole Economic Symposium starts Thursday and lasts for three days. Fed Chair Janet Yellen is slated to speak at the event on Friday. <\/p>\n
Once you try an electric bike, itll be hard to go back. <\/p>\n
Another show business legend passes. <\/p>\n
What is Amazon AMZN, +1.43% really? <\/p>\n
Trumps day of doom for national monuments is almost here. <\/p>\n
Ticket demand for the upcoming Mayweather-McGregor tussle isnt exactly living up to all the hype. Still, they arent cheap. <\/p>\n
Are you ready for some serious traffic? Or potentially severely damaging your eyes? Heres what you need to know about todays big eclipse. <\/p>\n
Need to Know starts early and is updated until the opening bell, but sign up here to get it delivered once to your email box. Be sure to check the Need to Know item. The emailed version will be sent out at about 7:30 a.m. Eastern. <\/p>\n
Follow MarketWatch on Twitter, Instagram, Facebook. <\/p>\n
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Read more: Last month, libertarian and multiple campaigner for president Ron Paul made headlines with his gloomy prediction that the stock market, plagued by an overrated recovery for the U.S. Continue reading
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