One of the iconic images of Winston Churchill's funeral was of the cranes at Hay's Wharf on the south bank of the Thames. As Churchill's casket passed by, the jibs on the cranes lowered in silent tribute:
I thought of this scene with the DJIA down a couple hundred points this morning.
Since Ms Kaminska announced she was leaving the Financial Times on Wednesday the Dow Jones Industrial Average has been down 211.14 points on Wednesday; down 61.05 points on Thursday and 168 points at this moment.
As with Churchill's mortal remains, I sure hope Izabella gets to where she is going so we can get past this silent tribute thing.
And from FT Alphaville, a look at another index, bolstered yesterday by Nvidia's tremendous performance and the tech #MeToo's:
Snap AV: an echo from March 2000Thursday’s S&P 500 advance masked widespread declines in equities.
FT Alphaville is a fan of sweepy morning markets newsletters which can be read, and understood, while your brain is still moving up through the gears. One of our favourites is the offering from Deutsche Bank’s Jim Reid which is titled, imaginatively, Early Morning Reid (gettit?).Flicking through his missive this grey Friday morning, a little haggard from last night’s FT drinks, we stopped mid-sip of our extra strong coffee when we came across this stat in his summary of Thursday’s equity market moves. (Note: Jim’s emphasis, not ours.)....
