Media Navel Gaze: August 15, 2016
Crushing it! That’s the best way to describe much of last week, starting with Rio, where Michael Phelps, Katie Ledecky, the Simones, Bolt and many others smashed records and piled on the gold. As the world knows, Phelps has now racked up 23 gold medals before saying, “I’m out!” The stock market followed the same game plan with all three big indicators scoring all-time records last week, a first since the dot-com boom, as low rates remain in the cards most likely until year end. The Dow ended the week up just 0.2 percent after a little setback Friday to close at 18,576, and is up 6.6 percent for the year.
- Trump himself basically helped Hillary start mildly crushing it in the polls with some many gaffs it started look like a self-inflicted political take down, from calling Obama the founder of ISIS (and Hillary the co-founder) to suggesting vote rigging in Pennsylvania; curious how his language is now continuing suggestions of a vacation and Plan Bs;
- Hillary released her tax returns and Trump didn’t, raising speculation that maybe he doesn’t pay any;
- The Huffington Post is losing its leader with Arianna now focusing on a start up called Thrive Global;
- Rupert Murdoch began shaping his new executive suite after the Ailes exit, sticking to appointing old blood at the top;
- Walmart is buying Jet.com for more than $3 billion, making the founder of the e-commerce start up very, very rich and never thinking again about blue-light specials;
- Macy’s closes 100 stores and stock rallied 17 percent;
- A-Rod says goodbye; and
- The life force behind R2D2 died.
- Brazil’s political situation continues to evolve, as the senate this week voted to advance Dilma Rousseff’s impeachment trial. The hearing is set for Aug 25th, and a formal decision on whether to impeach Dilma should be made within a few days. A separate trial for former speaker of the house Eduardo Cunha, who engineered the impeachment process against Dilma, is expected in mid-September.
- Mexico this week began purchasing crude oil for 2017 ahead of schedule to capitalize on current oil prices.