Evening Headlines
Bloomberg:
- China's Underground Market for Chips Draws Desperate Automakers.
- Japan’s Treasuries Holdings Fall to Three-Year Low as Yen Slides.
- Stealth Intervention Talk Permeates Market as Yen Approaches 150.
- US Officials Fret Over Russia Oil Cap Failing After OPEC Cut.
- Asia Set for Mixed Open After US Extends Rebound: Markets Wrap.
- Fertilizer Prices Fall as Gluts Emerge After Farmers Pull Back.
- Earnings Outlooks Are Key to Determining If Stocks Hit Bottom.
- Bankrupt Crypto Lender Celsius Facing Federal ‘Investigations’.
- Lockheed Gains Most Since 2020 on Profit Beat, Buyback Plan.
- Fed Can’t Pause Rate Hikes With Core Inflation Accelerating, Kashkari Says.
- Fed’s Bostic Says Slowing Inflation Is Best for Long-Run Employment.
- California Home Sales Drop 30% as Higher Rates Hit Costly Market.
- TC Energy Could Divest Keystone Oil Pipeline, Analysts Say.
- Stocks Volatility Prompts JPMorgan, Morgan Stanley to Shift Tone.
Wall Street Journal:
- Wall Street Traders or Washington Officials? Sometimes It’s Hard to Tell.
- Fashion Industry Gets Torn by Europe’s Soaring Energy Bills.
- Get Ready for the Big Chill. The price of heating fuel will soar this winter, thanks to climate policies.
- Democrats Are in Trouble With Hispanics. Trump did better in 2020 than 2016, and polls suggest that trend will continue.
- IRS to Raise Tax Brackets, Standard Deduction by 7%.
- Home Buyers Flock to Florida Cities Devastated by Hurricane Ian.
- Microsoft Lays Off Employees After Slowdown in Earnings Growth.
- Johnson & Johnson Likely to Cut Jobs Despite Higher Sales, Profit.
- French Protests Highlight Pressure on European Leaders From Energy Crisis.
Fox News:
- Air Force warplanes 'identified and intercepted' Russian bombers flying in airspace near US state.
- SAD SANTA:Major retailers already bracing for tsunami of returns.
CNBC.com:
- Rarely-humbled Goldman concedes missteps in plan to take on megabanks in retail finance.
- Adobe stock jumps on estimates for next year as strong dollar cuts into growth.
- Apple stock ticks down on report of cut to iPhone 14 Plus production.
- United Airlines says travel demand is stronger than recession pressures; shares rally.
- Why stock market investors should wait for the 10-year Treasury to ‘blink’.
- Remote employees are working less, sleeping and playing more, Fed study finds.
- A recession is coming soon, CEOs and economists warn. Here’s why they’re gloomy.
- Oh my gourd! People pay 14.1% more on average for pumpkin-spice products.
- Halloween spending expected to increase by $500 million as candy prices soar at the highest rate on record.
- Get ready for one big impact of inflation that will be felt next year. For most people, it’s unavoidable.
Zero Hedge:
- Biden To Unveil Cunning New Plan To Lower Gas Prices: Drain Even More From The SPR.
- Durham Denied (Again) - Igor Danchenko Not Guilty On All Counts.
- Luongo: The Fed Is Exposing The Lies Of Two Generations Of People In Power.
- First Images Of Blown Up Nord Stream Reveals 50 Meter Missing Section Of Pipeline.
- Democratic Party Captured By Environmentalists, Aiding Russia & China; Expert Claims.
- "This Is Unsustainable": NYC Homeless Shelter Population Hits Record High.
- Catalog Of Deceit: A List Of JB Pritzker's Falsehoods & Whoppers.
- Twitter Is Fine With Pfizer Propaganda, But Comic Books About The US Border Crisis Are Not Allowed.
- US stocks finished higher but with price action choppy amid earnings and mixed data - Newsquawk Asia-Pac Market Open.
- Almost All Corporate Executives Believe That Economic Conditions Are About To Get Significantly Worse.
- Boston University Defends Controversial Study On COVID Hybrid Strain With '80 Percent' Mortality Rate in Mice.
- WTI Holds Biden-SPR-Release Losses After API Data Shows Small Crude Draw.
- Equity rebound continues on strong earnings and flat Dollar and yields - Newsquawk US Market Wrap.
- Ghislaine Maxwell Speaks Out, Says Inmate Tried To 'Murder' Her.
- Netflix Soars After Q3 Results, Subscriber Growth And Forecast All Tops Forecasts.
- Foreign Official Entities Dumped Stocks, TSYs In August As De-Dollarization Accelerates.
- Stocks Rise As Recession Odds Hit 100% For "Strong As Hell" Economy".
Newsmax:
- FBI Whistleblower: Agency Showing Bias Against Conservatives.
- Rep. Cloud: No Stock Trading by Congress Members.
TheGatewayPundit.com:
- HERE WE GO: CDC Will Likely Vote this Week to Add Experimental COVID-19 Vaccines to the Childhood Vaccination Program.
- Australia Is Now Offering to Pay for Your Funeral if the Forced COVID Jab Kills You.
- BREAKING: IGOR DANCHENKO ACQUITTED ON ALL FOUR COUNTS BY DC JURY – Lied to FBI on Trump-Russia Collusion – Then Later Hired by FBI.
- Mother of George Floyd’s Daughter Sues Kanye West for $250 Million for Saying George Floyd Died from Fentanyl – Causing them ‘Emotional Distress’.
- It’s Beginning: Arizona Ballot Stuffer Caught Covering Up License Plate.
- World Premiere: “The Real Anthony Fauci” Movie Based on Robert Kennedy Jr.’s Blockbuster Book is Now Live – Watch it Free for 10 Days Only.
- John Fetterman’s Wife Demands NBC Apologize for Exposing Her Husband’s Inability to Track a Conversation.
- Bloomberg Reporter Calls Biden Out for Releasing More Oil From Strategic Petroleum Reserve as ‘Ploy’ Ahead of Midterms (VIDEO).
- Democrat-Socialists Rage At Generation X For Supporting GOP By Huge Margin In New Poll.
- Analysts Say Bed, Bath & Beyond Could Go Bankrupt – Remember When They Sided With Leftists By Canceling MyPillow?
The Epoch Times:
- Former Director of Chinese Virology Lab Dies of ‘Sudden Illness’.
- CCP Views US as Enemy, Not Competitor: Former Telecom Executive. US Military Strength Downgraded to Weak: Heritage Foundation Report.
- PREMIERING NOW: Nicolas Chaillan: The CCP Is Using TikTok to Manipulate Americans and Gather Data for AI Weapons.
Twitter:
- @KariLake - Let's talk about "Election Deniers."
I brought receipts. (video)
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 880,882 Reports(+5,890 from prior week) Through October 7th, 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).
Night Trading
Morning Preview Links
Earnings of Note
Company/Estimate
- Asian equity indices are unch. to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 198.75 -11.0 basis points.
- China Sovereign CDS 107.5 -7.75 basis point.
- Bloomberg Emerging Markets Currency Index 46.5 +.02%
- Bloomberg Global Risk-On/Risk Off Index 49.0 +.6%.
- Bloomberg US Financial Conditions Index -1.17 +2.0 basis points.
- Volatility Index(VIX) futures 29.8 -1.3%
- Euro Stoxx 50 futures +.58%.
- S&P 500 futures +.85%.
- NASDAQ 100 futures +1.25%
Earnings of Note
Company/Estimate
Before the Open:
- (ABT)/.94
- (ASML)/3.46
- (BMI)/.57
- (BKR)/.25
- (CMA)/2.57
- (MTB)/4.26
- (NDAQ)/.65
- (NTRS)/1.82
- (PG)/1.55
- (TRV)/1.72
- (WGO)/2.71
After the Close:
- (AA)/.18
- (CCI)/1.91
- (EFX)/1.63
- (IBM)/1.80
- (KMI)/.29
- (KNX)/1.32
- (LRCX)/9.54
- (LSTR)/2.76
- (LVS)/-.25
- (PPG)/1.66
- (SLG)/1.65
- (STLD)/5.16
- (TSLA)/1.01
- (WDFC)/1.22
Economic Releases
8:30 am EST
- Housing Starts for Sept. is estimated to fall to 1462K from 1575K in Aug.
- Building Permits for Sept. is estimated to rise to 1530K versus 1517K in Aug.
10:30 am EST
- Bloomberg
consensus estimates call for a weekly crude oil inventory gain of
+1,322,430 barrels versus a +9,879,000 barrel gain the prior week.
Gasoline supplies are estimated to fall by -1,227,710 barrels versus a
+2,022,000 barrel gain the prior week. Distillate Inventories are
estimated to fall by -1,493,000 barrels versus a -4,853,000 barrel
decline the prior week. Finally, Refinery Utilization is estimated to
fall by -.23% versus a -1.4% decline prior.
2:00 pm EST
- US Fed Beige Book Release.
Upcoming Splits
- None of note
Other Potential Market Movers
- The Fed's Bullard speaking, UK CPI report, weekly MBA Mortgage Applications report and the 20Y T-Bond auction could also impact global trading today.
- 9:30 am - 4:00 pm EST
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