Evening Headlines
Bloomberg:
- South Korea Posts Record Trade Deficit as Exports Tumble.
- Hong Kong Housing Slump Pushes Negative Equity to 18-Year High.
- Worst UK Strikes for a Decade Shut Schools, Cripple Rail Network.
- Hynix Posts Record Loss on Slump in Memory-Chip Prices.
- Asian Stocks Rise, US Futures Waver Before Fed: Markets Wrap.
- Oil Edges Higher Ahead of Fed Policy Decision, OPEC+ Guidance.
- Wall Street’s Feel-Good Start to 2023 Sets Up Perilous Fed Day.
- Fed’s Grip on Markets Thrusts Secondary Wage Data Into Spotlight.
- Pricier Burgers Are Coming for Diners as US Cattle Herd Plummets.
- Boeing CEO Sees Self-Flying Tech Coming to Commercial Aircraft.
- Pfizer Loses $40 Billion of Value in Worst Month Since 2020.
- Black Swan’s Taleb Warns ‘Disneyland’ Is Over for Investors.
- Bankman-Fried Would Embroil Stanford If He Violates His Bond.
- McCarthy to Gather With Fellow Republicans Before Biden Meeting.
- Americans Are Leaving High-Tax New York and Moving to Florida.
- NYSE’s Haywire Trading Spurs Crush of Demands for Compensation.
Wall Street Journal:
- Joe Biden’s Big Oil Profits. Exxon’s shareholders can thank the President for his limits on U.S. fossil-fuel production.
- Baldwin Is Charged in ‘Rust’ Fatal Shooting.
- FDA Proposes Overhaul in Wake of Baby Formula Shortage.
- U.S. Says Russia Violated Nuclear-Arms Treaty by Barring Inspections.
- New China Rule Threatens to Disrupt U.S. Solar Ambitions.
- Mondelez International 4Q Sales Climb on Higher Prices.
Fox News:
- House undermines Biden admin with vote on whether to immediately end COVID health emergency.
- Biden's DOJ changes presidential pardons for the worse.
- State Dem wants to ban kids from bible camps, youth groups.
CNBC.com:
- Fed expected to slow rate hiking to a quarter point but will stay unrelenting in inflation battle.
- Meta technology chief Bosworth implies company has lost focus.
- Amazon layoffs hit workers in robotics, grocery, health and AWS divisions.
- Stocks making the biggest moves after hours: Snap, Electronic Arts, Advanced Micro Devices and more.
MarketWatch:
- Short-selling legend Jim Chanos hints at risk of bear market unlike anything he’s experienced since starting on the Street in 1980.
- Electronic
Arts expects layoffs, stock plunges more than 10% as mobile versions of
popular games shelved and ‘Star Wars’ title delayed.
- Match sees ‘challenging’ first half ahead, but says Hinge is ‘brightest spot’ in its lineup.
- PayPal to lay off 7% of employees as part of cost-cutting push.
Zero Hedge:
- Biden Family Corruption, COVID Origins, Weaponized Government, And Border Crisis: House GOP Kicks Off Investigations.
- 'We Found No Misuse Of US Funds In Ukraine', US Treasury Says (With Straight Face).
- "It's Time For The Scientific Community To Admit We Were Wrong About COVID & It Cost Lives".
- "Approaching A Near-Term Ceiling" - SpotGamma On Market Positioning Into The FOMC.
- After Surge In Auto Thefts, Seattle Sues Hyundai And Kia For Failing To Install Anti-Theft Technology.
- 3,000 Flight Disruptions Hit US As Ice Storm Sweeps Southern States.
- Heart, Vein Disease Deaths High In 25-To-44-Year-Olds.
- Prestigious Liberal Watchdog Condemns New York Times' Russiagate Coverage.
- Cardboard Box Demand Plunging At Rates Unseen Since The Great Recession.
- Life after the January upside MOVE.
- US stocks gained at month-end after softer Employment Cost data, while focus shifts to the FOMC - Newsquawk Asia-Pac Market Open.
- Chicago Crime Rises 61% In 2023, Violent Offenses Spike While Governor Insists Crime "Coming Down".
- SNAP Implodes Again After Forecasting First Ever Revenue Decline.
- WTI Holds Gains After API Reports Across-The-Board Inventory Builds.
- AMD Rallies After Top- & Bottom-Line Beat, In-Line Forecast.
- Stocks and bonds rally into month-end amid falling wage pressures on the eve of FOMC - Newsquawk US Market Wrap.
- Big-Tech, Bitcoin, & Bullion Best January In Decades; Yield Curve Crashes To Record Inversion.
TheGatewayPundit.com:
- Trump Lawsuit: Bob Woodward Concealed *Key* Parts of Months Long Interviews With President Trump – Here Are the Redactions Woodward Deceptively Deleted from the Audio.
- Zelensky Sent Out Government Decree to Destroy ALL INFORMATION on Hunter Biden’s Metabiota Company on Same Day as Russian Invasion – Then Fire Spotted Outside Intel Headquarters.
- Biden to Send Ukraine ANOTHER $2.2 Billion in Military Aid – Including Long-Range Missiles: Reuters.
- “His Policies Were Incredibly Good for This Country” – Senator J.D. Vance Endorses President Donald Trump in 2024 GOP Primary.
- San Francisco Official Says $5 Million Reparations Payment and Total Debt Forgiveness For Longtime Black Residents is Not Enough.
- CNN Confronts Biden Spox After Leak to Media Reveals FBI Searched Penn Biden Center in November (VIDEO).
- Trump Vows to Revoke Biden’s ‘Cruel Policies’ on ‘Gender Affirming Care’ for Children; Crackdown on Hospitals, Big Pharma for Mutilating Children With Transgender Surgery, Medications (Video).
- Judge Rules Mysterious People Who Bailed Out FTX CEO Sam Bankman-Fried from Jail Should be Disclosed by Feb. 7th.
- WWE Legend Hulk Hogan ‘Can’t Feel His Lower Legs’.
- MUST WATCH: Medical Professionals-Turned-Whistleblowers Expose Houston Methodist Hospital’s Early COVID-19 Vaccine Mandate.
- TYRANNY: Minnesota Democrat Officials Including AG Keith Ellison Want to Take Away Dr. Jensen’s License after He Spoke Out About Inflated COVID Numbers.
Twitter:
- @crushthemarket - Are you connecting the dots yet? A lot of coincidences showing up around food supply. Especially chickens & eggs in US. (video)
- @Mayhem4Markets - Retail is back in a big way. (graph)
- @Project_Veritas - 27,700,000 views of Pfizer Director of Research. (video)
- @CheddarFlow - Lowest premium for an S&P500 put since January 2022. (graph)
- @acemaxx - The ( #bearmarket ) rally may just be mirroring the rapid easing of financial conditions that has offset #Fed #tightening and returned #liquidity to last spring’s level, chart @MorganStanley. (graph)
- @RealMattCouch - Russian Warship Admiral Gorshkov with Hypersonic Zircon Missiles in Atlantic Just 800 Miles Off U.S. Coastline.
- @KLVeritas - President Biden “Food shortages will be real”. WEF remains optimistic, offering dietary solutions like plant-based meat alternatives, insects, and “meat cultivated directly from animal cells.”
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 922,020 Reports(+3,512 from prior week) Through January 6th, 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 +.25% to +.75% on average.
- Asia Ex-Japan Investment Grade CDS Index 106.5 +.75 basis point.
- China Sovereign CDS 53.75 +1.75 basis points.
- China Iron Ore Spot 127.3 USD/Metric Tonne +.13%.
- Bloomberg Emerging Markets Currency Index 48.5 unch.
- Bloomberg Global Risk-On/Risk Off Index 59.2 +.6%.
- Bloomberg US Financial Conditions Index .32 +2.0 basis points.
- Volatility Index(VIX) futures 20.5 +.24%.
- Euro Stoxx 50 futures +.22%.
- S&P 500 futures -.28%.
- NASDAQ 100 futures -.45%.
Earnings of Note
Company/Estimate
Before the Open:
- (MO)/1.16
- (ABC)/2.62
- (BSX)/.47
- (EAT)/.52
- (HUM)/1.47
- (JCI)/.67
- (NVS)/1.41
- (ODFL)/2.67
- (OTIS)/.75
- (PTON)/-.64
- (SMG)/-1.32
- (TMO)/5.20
- (TMUS)/1.06
After the Close:
- (AFL)/1.21
- (ALGN)/1.53
- (ALL)/-1.16
- (CHRW)/1.35
- (ELF)/.23
- (KLIC)/.24
- (LSTR)/2.60
- (MCK)/6.36
- (META)/2.23
- (MET)/1.64
- (RGLD)/.78
- (VSTO)/1.11
Economic Releases
8:15 am EST
- The ADP Employment Change for Jan. is estimated to fall to 180K versus 235K in Dec.
10:00 am EST
- Construction Spending MoM for Dec. is estimated unch. versus a +.2% gain in Nov.
- ISM Manufacturing for Jan. is estimated to fall to 48.0 versus 48.4 in Dec.
- ISM Prices Paid for Jan. is estimated to rise to 40.4 versus 39.4 in Dec.
- JOLTS Job Openings for Dec. is estimated to fall to 10300K versus 10458K in Nov.
2:00 pm EST
- The FOMC is expected to raise the benchmark Fed Funds rate +25.0 basis points to 4.5-4.75%.
Afternoon:
- Wards Total Vehicle Sales for Jan. is estimated to rise to 15.5M versus 13.31M in Dec.
Upcoming Splits
- None of note
Other Potential Market Movers
- The Fed press conference, Eurozone Manufacturing PMI report, Australia Home Sales report and the weekly MBA Mortgage Applications report could also impact global trading today.
- 9:30 am - 4:00 pm EST
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