Thursday’s UK election is unlikely to yield any real surprises, with the Conservatives most likely to hold onto power despite a lacklustre campaign. Any other result would see a plunge in Sterling at the very least.

What may more likely to freak out the markets is the James Comey testimony, though the broad contents of that have already been revealed. The likely reaction from Democrats is already factored in. The more pertinent question for the markets is how will Republicans respond?

Read The Capitalist’s Take Here

JAMES COMEY FINALLY TESTIFIED IN FRONT OF SENATE INTEL COMMITTEE; HERE ARE THE WINNERS AND LOSERS

In the highest-profile Congressional testimony in decades, fired FBI Director James Comey spent nearly three hours detailing his interactions with President Donald Trump — a forced and awkward relationship defined, according to Comey, by a series of lies told about him by Trump.

We live-blogged the whole thing here. And I wrote some analysis of the debate over whether Trump is a liar, as Comey said, here. But I also jotted down a bunch of notes about the good, the bad and the just plain strange — John McCain, I am looking directly at you — from Comey’s testimony in front of the Senate Intelligence Committee.

My best and worst are below.

Read More at CNN Here

Read More at NPR Here

Read More at Fox News Here

HOUSE PASSES CHOICE ACT THAT WOULD GUT DODD-FRANK BANKING REFORMS

The House of Representatives pushed through a bill Thursday that would gut many of the key banking reforms implemented after the financial crisis.

In a primarily partisan vote, the House passed the Financial Creating Hope and Opportunity for Investors, Consumers and Entrepreneurs Act, a highly controversial measure that stands virtually no chance to pass the Senate.

Among the most significant provisions are measures that allow banks to escape heightened regulatory requirements and cut stress tests back from their current annual schedule, while the bill also eviscerates the Consumer Financial Protection Bureau.

Read More at CNBC Here

Read More at NPR Here

Read More at CNN Here

Closing Bell

– Thursday, June 8th

Markets Tick UP Despite Uncertainty Following Comey Testimony and UK Elections

Big Insider Trades

– Facebook, Inc. (FB) COO Sheryl Sandberg Sells $25m

– Teledyne Technologies, Inc. (TDY) CEO Robert Mehrabian Buys $1.3m