Evening Headlines
Bloomberg:
- Japan Inflation Quickens Again, Putting Pressure on BOJ View.
- Biden, G-7 Partners to Focus on China in Hiroshima Gathering.
- Vienna Becomes Epicenter of Europe’s Housing Woes.
- Asian Stocks to Open Mixed on US Rally, China Drag: Markets Wrap.
- Oil Set for Best Week Since Mid-April on US Debt-Deal Optimism.
- McCarthy, Schumer Eye Debt-Limit Votes Ahead of June 1 Deadline.
- TikTok’s Montana Ban Sows Chaos for Creators Who Vow to Quit.
- The Key Points That Could Complicate a Debt-Limit Deal.
- Zero-Day Options Are Reordering the Way the Stock Market Behaves.
- Exxon Says Reaching Net Zero Global Emissions by 2050 ‘Highly Unlikely’.
- Epic Stock Lull Spurs Volatility Sales Before $1.7 Trillion Test.
- Mortgage Rates in US Resume Climb After Falling for Two Weeks.
- Wall Street Fears $1 Trillion Aftershock From Debt Deal.
- Fed Officials Consider Skipping a Hike in June — But Don’t Call It a Pause.
Zero Hedge:
- Secretive Bilderberg Gathering Of Global Elites Kicks Off: See Who's Attending & What They're Discussing.
- Fertility App Premom Shared Sensitive User Data With Chinese Firms.
- US Supreme Court Allows Illinois Gun Control Law To Remain In Effect.
- Feds Start Enrolling Volunteers For mRNA Flu Vaccine Trial.
- Disney Abandons Billion-Dollar Florida Development Plan, Shutters 'Galactic Starcruiser' Hotel Amid DeSantis Suit.
- Turley: If Congress Really Wants Reform, Durham Has Given It A Blueprint For How To Do It.
- Gunmaker Heckler & Koch Deletes Woke Tweet Rant After Backlash.
- US stocks extended on gains and the S&P 500 printed a 9-month high on debt ceiling optimism and firm data - Newsquawk Asia-Pac Market Open.
- Rubio Publishes Vast COVID-19 Report: 'Beijing Hid The Truth'.
- Fed Emergency Bank Bailout Facility Hits Record High; Money Market Inflows Suggest Deposit Run Not Over Yet.
- Dollar and yields soar on strong data and more hawkish Fed Speak ahead of Powell - Newsquawk US Market Wrap.
- Portland Wants To Re-Fund Its Police.
- Tech titans skyrocket: dancing on the edge of overheating.
- "Huge" Bearish Bets Gone Wrong Cost Carl Icahn $9 Billion In Losses.
- Hawkish FedSpeak Batters Bonds & Bullion; Tech Melt-Up Accelerates.
Wall Street Journal:
- Pentagon Says Accounting Mistake Leaves U.S. With $3 Billion More in Arms for Ukraine.
- China Puts Spymaster in Charge of U.S. Corporate Crackdown.
- Home Prices Post Largest Annual Drop in Over 11 Years.
- Lazard CEO Ken Jacobs Prepares to Step Down.
- Fed Officials Face ‘Loathsome’ Playbook for Debt-Ceiling Standoff.
- Virtual Fences for Cattle Find a Home on the Range.
- Apple Restricts Employee Use of ChatGPT, Wary of Leaks.
CNBC.com:
MarketWatch:
- Debt on trophy office buildings is starting to buckle as loans come due.
- These banks have high exposure to loans secured by office properties — here’s how their stocks have performed.
- Fed’s Barr warns of rising risk around commercial real estate at regional banks.
- Here’s why Treasury bills are seen as reasonable alternative to stocks for first time in 14 years.
Newsmax:
Fox News:
TheGatewayPundit.com:
- NIH Finally Cuts Off Funding to Wuhan Biolab But 27 Chinese Labs Still Make the List,
- FBI Revokes Security Clearances of Whistleblowers Before Congressional Testimony – But 51 Signatories of Bogus Hunter Biden Laptop Letter Still Have There’s,
- Former FBI Special Agent Left Homeless After Blowing the Whistle on FBI and DOJ – Gives Powerful Testimony on Abuses of Power and Weaponization [VIDEO],
- Is The DOJ Destroying Presumption of Innocence Through Wengui Guo/Miles Guo, Others?
- “It’s Ridiculous!” – AP Reporter Blasts State Department After They Added MANDATORY Pronouns Onto “From” Line on State Dept Emails (VIDEO),
- Are They Lying to You? Dr. McCullough Sounds the Alarms on mRNA in Your Food.
- Feinstein Health Much Worse Than Previously Disclosed – Several Complications, Facial Paralysis, Swelling of the Brain.
- Democrat Stacey Plaskett Defends FBI for Targeting “White Christian Males” and for ‘Threatening Violence’ at Whistleblower Hearing.
- Get Woke, Go Broke: Illinois/Wisconsin Grocery Chain Practically Giving Away Budweiser and Bud Light!.
- BREAKING: Washington FBI Field Office Confirms Undercover Officers, Confidential Informants, and FBI Assets were Embedded in the Crowds at the U.S. Capitol on Jan. 6th (VIDEO).
- Johnson & Johnson COVID-19 Shot No Longer Available in the U.S. – Remaining Doses to be Disposed,
- Bipartisan Bill Aims to Block Chinese Purchase of US Farmland.
- Senior Official at CCP’s State-Owned Assets Watchdog Under Probe.
Twitter:
- @RastaRafi03 - A brief explanation of how digital ID, if allowed to be implemented, will give authorities the power to exert absolute control over every aspect of your life. (video)
- @DisruptorStocks - Are we done with Revenge Travel? (graph)
- @KLVeritas - WHO “One Health Agenda” threatens national sovereignty, free speech and is pushing towards centralized, totalitarian and undemocratic top-down control over people and their health. It’s time for US and other countries to #ExitTheWHO before treaties/IHR are passed and signed.
- @backtolife_2023 - The true impact of winter on electric car performance revealed: New test shows plummeting temperatures can slash battery range by up to a THIRD. (graph)
- @data_depot - The % of Americans saying they have "a great deal of trust in the scientific community" dropped significantly b/w 2021 & 2022 (from 48% to 38%). Importantly, it was down among all partisan groups. (graph)
- @songpinganq - Chinese facial recognition police robot have been rolling streets for years. But it's Chinese 'Judge Dredd' scared people to death last 3 years, because... They can send you off to a quarantine camp immediately if you have a fever. (video)
- @FreyjaTarte - Here is Adam Schiff repeatedly lying to the American people about Russian collusion. (video)
- @GameofTrades - Small business optimism has been on a sharp decline. It has reached levels only seen 3 other times since the 1970s. Each one led to a recession. (graph)
- @bennyjohnson - Greg Gutfeld finally SNAPS, sends Fox Execs into PANIC MODE after destroying every approved narrative about Regime's election interference against Trump. (video)
- @Deltaone - OPENAI CEO SAM ALTMAN SAYS AI AND ELECTIONS ARE A “SIGNIFICANT AREA OF CONCERN” AND “SOME REGULATION WOULD BE QUITE WISE”.
- @DC_Draino - Nothing to see here... Just video of a van dropping off 100s of thousands of ballots around 3 AM in Detroit w/o any GOP monitors. Biden’s Michigan votes would spike ahead of Trump a couple hrs later. (video)
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 959,637 Reports(+1,684 from prior week) Through May 5th, 2023.
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.
Night Trading
Morning Preview Links
BOTTOM LINE: Asian indices are mostly higher, boosted by industrial and tech shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
- Asian equity indices are +.25% to +.75% on average.
- Asia Ex-Japan Investment Grade CDS Index 128.75 -1.25 basis points.
- China Sovereign CDS 69.75 -1.75 basis points.
- China Iron Ore Spot 105.1 USD/Metric Tonne -1.6%.
- Bloomberg Emerging Markets Currency Index 47.1 -.04%.
- Bloomberg Global Risk-On/Risk Off Index 58.8 +2.2%.
- Bloomberg US Financial Conditions Index .07 -6.0 basis points.
- Volatility Index(VIX) futures 19.1 -.5%.
- Euro Stoxx 50 futures +.41%.
- S&P 500 futures +.13%.
- NASDAQ 100 futures +.27%.
BOTTOM LINE: Asian indices are mostly higher, boosted by industrial and tech shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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