Today's Headlines
Bloomberg:
- Even Without a Lockdown, Beijing’s Economy Struggled in May.
- Ruble Soars to 7-Year High Prompting Debate Over Targeting Rate.
- Ukraine Latest: War Knocks Almost Half of Economy Out of Action.
- Major Firms Ready to Lower Gas Use This Summer, Germany Says.
- South Korea Inflation to Exceed May Forecast, Bank of Korea Says.
- BOE Must Hike Faster to Stop Inflationary Pound Drop, Mann Says.
- Empty Container Boxes Stuck at Rotterdam May Stoke Asia Shortage.
- Germany’s Biggest Union Pushes for 7% to 8% Raise in Wage Talks.
- More Than Half of Global Consumers Didn’t Save During Pandemic.
- Stocks in Asia Set for Reprieve Amid Dip in Dollar: Markets Wrap.
- Biden Says Decision Nearing on Gas-Tax Pause, Student Debt.
- Yellen Says ‘Stay Tuned’ for Word on Russian Oil Price-Cap Plan.
- Yellen Urges Less Dependence on Other Nations for Key Supplies.
- Distressed Crypto Lender Babel Wins Reprieve on Debt Repayments.
- Bitcoin’s Struggle to Hold $20,000 Keeps Crypto Market on Edge.
- Larry Summers Says US Needs 5% Jobless Rate for Five Years to Ease Inflation.
- US House Prices Are Likely to Drop as Rates Rise, Capital Economics Says.
- Tesla Violated Federal Law by Laying Off Workers Without Warning, Lawsuit Says.
Wall Street Journal:
- GM and Ford, Driving to Beat Tesla, Turn on Each Other.
- EY’s Breakup Plan Means Windfalls for Partners.
- Undoing the Covid ‘Taxpayer Heist’. Scammers stole billions in pandemic aid. The GOP has a plan to crack down.
- Stocks Historically Don’t Bottom Out Until Fed Eases.
- Labor Crunch Hits Contractors as $1 Trillion Spending Kicks In.
- Small Businesses Fall Behind on Hiring as Inflation Takes a Toll.
- Thousands of Flights Canceled, Upending Holiday Travel.
- Witness describes chaotic DC shooting that left 15-year-old boy dead.
- Biden ignites uproar for suggesting inflation hitting families is 'chance' to accomplish liberal agenda item.
- Ben Domenech: We are headed toward a number of years of significant economic downturn.
- Heavily armed police officers reportedly waited in Uvalde hallway for 58 minutes.
- Teen with no history of drug abuse killed by fentanyl: What everyone should know.
- POISONING OF AMERICA:Parents recall horrifying discovery as deadly crisis skyrockets across country.
- Top airline ending service to 3 major cities due to pilot shortage.
CNBC:
- ‘The situation is serious’: Germany plans to fire up coal plants as Russia throttles gas supplies.
- Look for more selling pressure in week ahead as investors learn the hard way not to fight the Fed.
- Crypto lending firm Celsius asks users for more time to fix issues after halting withdrawals.
- A crypto lending app tried to take over a ‘whale’ account to stop it from collapsing the system.
- ProShares is launching a short bitcoin ETF this week.
Zero Hedge:
- Did Europe's Latest (& Little Noticed) Anti-Russia Move Just Push The World Closer To WW3?
- Commercial Real Estate Is On The Brink.
- Facebook Removes Greitens "RINO Hunter" Campaign Ad.
- Russia Demands Lithuania Lift "Openly Hostile" Blockade; Panic Buying Ensues.
- "We Now See The Fed Moving Toward An Attempted Controlled Unwind Position".
- Study CDC Cited In Arguing For COVID-19 Vaccines For Babies Being Updated.
- Random holiday observations.
- US stock index futures gained steadily in thinned trade on the Juneteenth holiday - Newsquawk Asia-Pac Market Open.
- China, US Escalate Over Legal Status Of Taiwan Strait After Beijing Rejects It As "International Waters".
- It's Official: Nomura Is First Bank To Call For 2022 Recession.
- The Perfect Storm In Oil Caught Markets Off Guard.
- Is America The Only Country In The World That Authorizes COVID Shots For Infants?
- COVID Exposed The Medical-Pharmaceutical-Government Complex.
- 10,000 Flights Delayed Over Holiday Weekend As Aviation Chaos Concerns White House.
- "Economic Hurricane" – Hyperbole Or Real Possibility?
- A Look At The Last Five US Recessions.
- Fauci Refuses To 'Stop Funding Chinese' Research With US Tax Dollars.
- European Stocks, US Futures, Cryptos All Rise With US Out On Holiday.
- Swimming's World Governing Body Slaps Total Ban On Transgender Athletes.
- Germany Rations Gas Amid Russian Cuts, Mandates Return To Coal For Electricity Production.
- Chinese State-Backed Hackers Targeting Major Telecom Companies: US Security Agencies.
- Ukraine War Hits Grim Milestone As Civilian Deaths Surpass 10,000: UN.
- A softer APAC tone amid a US holiday & ahead of multiple speakers - Newsquawk Euro Market Open.
- Republican Negotiator For Red Flag Laws Booed By Texas Crowd At GOP Convention.
- Life Insurance Payouts Jumped 163% During First Year Of Vaccine Rollout.
- Ukraine Says "Prepare For The Worst" In Donbas; Kharkiv Will Likely Be Next "Frontline City".
- Goldman Trader: You Make Your Big Money When Central Banks Make A Policy Error... Like Now.
- "Fight Like Hell With A Smile On Our Faces": CRT Debate Spurs Parents To Run For School Boards.
- China And Japan Cut US Treasury Holdings As Federal Reserve Hikes Rates.
- In "Stunning Blow", Macron Loses Absolute Majority As Far Right, Left Surge.
- Inflation Is Everywhere: The Infamous Warren Buffett Charity Lunch Sold For More Than Four Times Last Year's Price.
- Weekend News Round Up - Newsqauwk.
- Videos Of Americans Captured In Ukraine Broadcast On Russian TV - US Reviewing Footage.
- Transportation Secretary Warns US May Act Against Airlines Over Cancellations.
- Russia Attacks US-Backed Fighters In Syria At American Outpost.
- Efficacy Estimates For Pfizer’s Vaccine For Young Children Come Under Scrutiny.
- Sorry Chair Powell, Even FRBNY Is Now Forecasting Serious & Accelerating Recession Risk.
MarketWatch.com:
- Trillion-dollar crypto collapse sparks flurry of U.S. lawsuits – who’s to blame?
- El Salvador’s bitcoin-backing president asks for patience as crypto sinks.
- Celsius abruptly cancels AMA session as company navigates ‘very difficult challenges’.
- Opinion: Gas prices are headed to $6 by Labor Day – here are the main reasons why.
- Germany to restart coal plants.
- Stocks are still too expensive, and rising rates may shock financial system, Seth Klarman warns.
- ‘It’s a perfect storm for women’: Tampon shortage adds to women’s supply-chain woes.
NewsMax:
TheGatewayPundit.com:
- BREAKING: Run on the Banks in China – Long Lines in Henan, Shanghai, and Dandong.
- Bidenflation Is Making Car Payments And Purchases More Expensive Then Ever Before.
- “I Felt Election Was RIGGED and ‘STOLLEN’, Have from the Very Beginning, and Have Only Gotten Stronger in that Belief” – President Trump Totally Destroys ‘Unselect Committee’.
- Data from National Statistics in England Reveals Almost 530,000 Vaccinated Have Died Including Non-COVID Deaths Between January 2021 and March 2022.
- Bidenomics: East Coast Truckers Are Stalled Out on the Highway Waiting for Gas – The Gas Stations Are Out of Diesel (VIDEO).
- Experts and Republicans Call Out The CDC For Approving The COVID Jab For America’s Youngest Children, Citing A Lack Of ‘Efficacy Data’.
- Uvalde Police Went 77 Minutes Without Trying To Open The Door Where A Shooter Killed 19 Children and 2 Adults.
- Woke Disney’s New Movie “Lightyear” Flops
- The IRS Is Buying Up Ammo, While The Government Intends To Make It Harder For Citizens To Acquire.
- HUGE: Court Rules for the First Time That an Insured Business Can Seek Damages Over COVID-19 Shutdown Losses.
- Former Obama Economic Advisor and Treasury Secretary Warns That ‘a Recession is Ahead’ (VIDEO).
- Whopping 72 Percent Majority of Republicans Believe That the US Has ‘Poor Moral Values’
- “Teetering On The Edge” — Diesel Prices Leading To Food Shortages?
- Minnesota Senate Ethics Committee Unanimously Votes to Investigate Democrat on Voter Fraud Allegations.
- Transgender Org Releases New Guidelines, Lowers Recommended Age For Starting Children on Gender-Change Hormones and Mutilating Their Breasts.
- CONFIRMED: Pfizer’s COVID Vaccine Reduces Sperm Count in Men, Another Adverse Affect Of The Forced Vaccine Tyranny.
The Epoch Times:
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 831,800 Reports(+2,492 from prior week) Through June 10th, 2022.
SKirsch.com:
- Using the MGH numbers with our own VAERS queries, we have 247 cases per million doses from the MGH study divided by 5.97 cases per million doses from VAERS. 247/5.97 = 41. This suggests that the VAERS under-reporting factor (URF) is 41X.
Covid-19(Data, Maps, Graphs):
- Our World in Data: New Global Covid-19 Cases(7-day rolling average graphs). New US Covid Hospital Admissions/ICU Admissions/Deaths
- FT.com: Fully Vaccinated by Country(graph). Global Lockdown Stringency Index(map).
- Bloomberg.com: International Travel Restrictions. Case Graphs by State.
- NYTimes.com: County Trends and Clusters. Local ICU Occupancy.
- Brown School of Public Health: Covid Severity by State/County(map). US Hospital Capacity(region).
- CovidActNow: Covid Severity/Infection Rate by Metro Area.
- KFF: US Vaccinations by Race/Ethnicity.
- Carnegie Mellon: Covid-Like Symptoms in Community. Covid Symptom Searches on Google. Covid-Related Dr.Visits. Restaurant Visits. Wearing Masks. (graphs)
- Safegraph.com: Commerce Patterns(graphs).
- COVID Money Tracker. Tracking the Covid response.
Night Trading
- Asian indices are +.5% to +1.0% on average.
- Asia Ex-Japan Investment Grade CDS Index 131.25 -2.0 basis points.
- China Sovereign CDS 82.25 -3.75 basis points.
- Bloomberg Emerging Markets Currency Index 50.61 +.04%.
- Bloomberg Global Risk-On/Risk Off Index 4,705.0 +76.0 points.
- Volatility Index(VIX) futures 30.2 -2.3%.
- Euro Stoxx 50 futures unch.
- S&P 500 futures +1.17%.
- NASDAQ 100 futures +1.21%.
Earnings of Note
Company/Estimate
Before the Open:
Before the Open:
- (LEN)/3.97
After the Close:
- (LZB)/.92
Economic Releases
8:30 am EST
- The Chicago Fed National Activity Index for May.
10:00 am EST
- Existing Home Sales for May is estimated to fall to 5.4M versus 5.61M in Apil.
Upcoming Splits
- (FTNT) 5-for-1
- The Fed's Mester speaking, Fed's Barkin speaking, Fed's Bullard speaking, BoJ Meeting Minutes, German PPI report, weekly US retail sales reports, Jefferies Consumer Conference, (LOW) fireside chat w/Oppenheimer, (JWN) fireside chat w/Telsey Advisory and the BofA Tech/Media/Communications Conference could also impact trading today.
- 9:30 am - 4:00 pm EST
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