Monday Watch

Today's Headlines

Bloomberg:           

• Khamenei Says Iran Is in ‘No Hurry’ to Revive Nuclear Deal.
• China Still Has Room to Provide Liquidity to Economy: PBOC Chief.  
• EU’s Plodding Stirs ECB Concerns as U.S. Delivers Stimulus.
• Aramco Aims to Partner With China on Blue Hydrogen, CEO Says.  
• Porsche Makes a Play for Electric Animal Spirits.  
• Mideast Equities Drop Tracking Slump in Oil Prices: Inside EM.   
• Stocks Eye Steady Open; Dollar Up in Haven Trade: Markets Wrap.  
• Oil Resumes Decline in Asia After Ending Ugly Week With a Bounce. 
• Oil Is Still on a Bumpy Path to Recovery Despite Price Swerve.  
• Fed’s Barkin Sees Strong Economy With Some Price Pressures.
• U.S. Deaths Slow; EU Rejects Donating Vaccines: Virus Update.  
• NFTs Mushroom Into Billion-Dollar Market With Help From Alchemy.  
• Stores That Defined American Malls Bet on a Freestanding Future.  
• Marijuana Salad Flap Hints at Legal Pitfalls: Cannabis Weekly.

Wall Street Journal:

• Covid-19 Vaccine Manufacturing in U.S. Races Ahead.
• Americans Are Ready to Travel. But Where Can They Go?
• Will We Be Ready if GPS Goes Down?
• Deconstruction, Identity and the Dying Art of Criticism.
• New Realtors Pile Into Hot Housing Market.
• U.S. Distillers Bitter Over 25% Tariffs Set to Double in June.
• The New Stock Influencers Have Huge—and Devoted—Followings.
• Stimulus Checks Leave U.S. Households Flush to Spend.
• A Fed With No Fear of Inflation Should Scare Investors.
• China’s Warning to Biden.

Barron's:

• Had bullish commentary on (LMT), (ELF), (SPLK) and (TSLA).
• Had bearish commentary on (MAXR) and (IRDM).

Fox News:

• Biden locks media out of border operation amid spiraling crisis – reporters look in from Mexico.
• BORDER CRISIS: First photo inside El Paso migrant center obtained by Fox News.
• Border Patrol makes unprecedented move at ground zero known for illegal crossers surge.

CNBC:  

• Brazil Covid variant detected in New York resident for the first time.
• How college students learned new ways to cheat during Covid.
• These 10 retailers are in expansion mode: Here’s who is opening new stores.
• Saudi Aramco profit slumps 44% after Covid-battered year, but maintains dividend.
• Biden’s closest advisors have ties to big business and Wall Street with some making millions.
• Top Wall Street analysts are unanimously bullish on these stocks.
• Vizio, best known for bargain TVs, wants IPO investors to focus on its high-growth ads business.

Zero Hedge: 

• What FBI Stats Really Reveal About Asian Hate Crimes.
• Former FDA Commissioner: "Costly" Social Distancing Mandate "Wasn't Based On Clear Science".
• Defiant US Soldiers Openly Questioning Why BLM Riots Weren't Treated Like Capitol 'Insurrection'.
• Canadian Pacific Buys Kansas City Southern For $25BN In Largest Deal Of 2021.
• Luongo: Capital Is Sensing "This Central Bank Impotency".
• Watch: UK Announces Vaccine "Certificates", Says They Are Not Vaccine Passports.
• Top NATO Scientist With High-Level Security Clearance Spied For Chinese Intelligence.
• The ECB's Financial Suttee.
• Brandon Smith: Is The Illegal-Immigration Crisis All About New COVID Lockdowns?
• Meet "Digit," A Humanoid Robot Testing Package Delivery From Curb To Doorstep.
• "A Threat To American Democracy" - Federal Judge Alleges Democrats Control Almost All Major News Outlets.
• America's Upside-Down Economy Just Took Another Bizarre Turn.
• The Great Donkification.
• Gross Profits For House Flippers Hits Record As Fed Turbocharges Real Estate Bubble.
• House Democrats Propose 4,350 Earmarks A Year Costing $13 Billion.
• Father Arrested After Continuing To Call His Child "She" Following Court-Ordered Gender-Transition Treatments.
• "Burn Your Masks!" Massive Anti-Lockdown Protests Rage Worldwide.
• Two-Thirds Of Manhattan White-Collar Workers Will Not Return To Office Full-Time, Survey Says.

MarketWatch.com:     

• Opinion: The Tesla bubble: Bets on electric cars and the rise of SPACs have led to a new version of the dot-com boom.  
• Opinion: How inflation’s bite makes bonds riskier than stocks. 
• The new normal of travel: 10 things that can seriously impact your next trip.

NewsMax:  

• Biden Spends $86 Million in Hotel Rooms for Illegal Aliens.
• Border Patrol Weighs Releasing Illegals Without Court Date.
• Lawmakers Describe 'Dire' Escalating Border Situation.
• K.T. McFarland: US Waking Up to Fact of China Cold War.
• Trump: We Handed Biden Secure Border, He Made It 'National Disaster'.
  

TheGatewayPundit.com:

• President Trump Slams Biden and ‘Pathetic, Clueless’ Homeland Security Sec. Mayorkas Over Border Chaos.
• ENTIRE Georgetown Basketball Team Kneels for National Anthem at NCAA Tourney — Then Get Spanked by 23 Points.
• Biden Is Housing COVID Contaminated Illegals in Facilities Built for Oil Employees – What Is the Real Cost of Biden’s Insane Policies?
• BREAKING: SWAT Team Moves In As Spring Breakers Commit Violence, Destroy Restaurants…City of Miami Beach Declares State of Emergency [VIDEO].
• China is the Greatest Existential Threat to the US – Biden’s Actions with Russia Were “Childish” – Former Secretary of State Mike Pompeo.
• “We’re Heading Towards 200,000 Illegal Border Crossers Per Month” – Jesse Watters on FOX News.
• Texas Governor Orders Investigation Into Joe Biden’s Filthy, Unsanitary Holding Camp for Migrant Minors After Massive Covid Outbreak.

The Epoch Times:

• Beijing Delicately Navigating Another Housing Bubble.
• US Government Should Further Limit Investments in China: Panel.
  
• Beijing Delicately Navigating Another Housing Bubble.

Digital Blackboard:

• Daily New Cases by Region.

Worldometer:

• New Cases/Deaths by state.

Rt Covid-19:

• How fast virus is growing by state.

KFF:

• State Data(Tests/Hospitalizations).

Night Trading

• Asian indices are -1.25% to -.25% on average.
• Asia Ex-Japan Investment Grade CDS Index 58.75 -1.0 basis point.
• China Sovereign CDS 30.75 +1.75 basis points.
• Bloomberg Emerging Markets Currency Index 60.80 +.53%.
• Bloomberg Global Risk-On/Risk Off Index 2,794.0 -50.0 points.
• Volatility Index(VIX) futures 23.66 +1.48%. 
• Euro Stoxx 50 futures -.19%.
• S&P 500 futures +.15%.
• NASDAQ 100 futures +.11%

Morning Preview Links

Earnings of Note

Company/Estimate

Before the Open:

• None of note
  

After the Close:

• (GES)/.56
• (SNX)/1.57
  

Economic Releases

8:30 am EST

• The Chicago Fed National Activity Index for Feb. is estimated to rise to .72 versus .66 in Jan. 

10:00 am EST

• Existing Home Sales for Feb. is estimated to fall to 6.5M versus 6.69M in Jan.

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Fed's Powell speaking, Fed's Bowman speaking, Fed's Quarles speaking, Eurzone Current Account report, Simmons Energy Conference, BofA Energy/Utilities Conference and the Piper Sandler Energy Conference could also impact trading today.

Market Hours
Normal:

• 9:30 am - 4:00 pm EST

BOTTOM LINE: Asian indices are mostly lower, weighed down by commodity and industrial shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower.  The Portfolio is 50% net long heading into the week.