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\\n \\t* It looks like the U.S. stock market is going to close out the 3rd quarter on a positive note
\\n \\t* The catalyst for the rally today is the big rally in Deutsche Bank; shares are up better than 14%
\\n \\t* They were in danger of going below $10 yesterday
\\n \\t* There were nervous about maintaining accounts with Deutsche Bank
\\n \\t* People were re-living memories of Lehman Brothers all over again
\\n \\t* I think the Obama Administration was beginning to get concerned
\\n \\t* The Dow was off about 200 points on the close yesterday
\\n \\t* When worries about contagion spilling over from European banks into U.S. Banks
\\n \\t* It wasn\'t good with these Wells Fargo Congressional hearings
\\n \\t* I am going to chime in on that later in today\'s podcast
\\n \\t* I think the Obama administration was getting nervous about precipitating another financial crisis before the election
\\n \\t* I think they gave a nudge to the Department of Justice which had been talking about a $14 billion fine on Deutsche Bank
\\n \\t* The rumors this morning are that they are nearing a settlement with Deutsche Bank for a much lower number; maybe around $5.5 billion
\\n \\t* Which is below the amount that Deutsche Bank had set aside to settle this
\\n \\t* So from $14 billion down to about $5.5 billion - this is causing a big rally in the shares of Deutsche Bank and in fact that is returning confidence to the entire sector
\\n \\t* I don\'t think that this means that the European banks or the American banks, for that matter, are out of the woods
\\n \\t* I still think there are a lot of problems in the financials, because as I said in a previous podcast,"They\'re damned if the Fed raises and they\'re damned if they don\'t"
\\n \\t* \\xa0Negative rates are bad for the banks but rate hikes are also bad for the banks, based on their balance sheets
\\n \\t* I think there are still a lot of problems percolating beneath the surface for the financials
\\n \\t* As far as the Obama Administration is concerned, the key is to get everything through the next election without a crisis
\\n \\t* So I think that having the Department of Justice settle with Deutsche Bank for a much smaller number...
\\n \\t* You know that $14 billion fine was very close to what the Europeans were looking to fine Apple
\\n \\t* But I think the Department of Justice is more concerned about elections than the symbolism regarding Apple\'s fine
\\n \\t* So coming to an agreeable solution with Deutsche Bank that was lower than the markets had feared serves the Administration\'s purpose right now
\\n \\t* So that\'s where the rally is coming from today and of course the traders like to paint the tape a little bit going into the end of the quarter
\\n \\t* It\'s not just the markets that had a strong quarter - crude oil ended the day about $49
\\n \\t* We have some kind of agreement among OPEC nations for production cuts
\\n \\t* And while that might be good for oil stocks, it\'s not going to be good for the U.S. consumer, who is already struggling
\\n \\t* In fact we did get a mixed bag on economic numbers out today
\\n \\t* The disappointing number was consumer spending, which for the month of August was flat; the anticipation was for an increase of .2%
\\n \\t* Personal income did manage to meet expectations with a .2% increase
\\n \\t* But that was about half the increase we got in the prior month
\\n \\t* Spending went down from +.4 (which was upwardly revised from the original +.3) to flat
\\n \\t* Higher energy prices, gas prices at the pump are simply going to eat into that consumer spending number
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