Evening Headlines
Bloomberg:
- Why China’s Reopening Isn’t Providing Enough Jobs for Its Young.
- Lula Lashes Out and Sends Warning to Central Bankers Everywhere.
- World’s Richest Man Loses $11 Billion After LVMH Stock Rout.
- Britons Pay for Their Own Health Care as Waiting Lists Spiral.
- Asian Equities Fall as Debt Impasse Fuels Caution: Markets Wrap.
- Oil Rises for Third Day as Saudis Tell Short Sellers ‘Watch Out’.
- McCarthy, Graves Signal Impasse in White House Debt Talks.
- Netflix Tells US Consumers to Stop Sharing Accounts.
- Microsoft to Add Bing Search to OpenAI’s ChatGPT in Battle With Google.
- Comcast Wants to Attract Customers With a New, $20 Cable Bundle.
- Fed Tracks Market Sentiment With New Index Built from 4.4 Million Tweets.
- Intuit Drops After Tax Season Sales Fall Short of Estimates.
- There Is ‘More Room’ for Dollar Strength, Goldman Sachs Says.
- Company Earnings Guidance Is Wrong About 70% of the Time.
- Cut Stocks, Buy Gold, Hold Your Cash, JPMorgan’s Kolanovic Says.
Zero Hedge:
- Chicago Carnival Invaded By "Flash Mob" Of Over 400 Teenagers.
- TikTok Sues Montana Over Ban.
- US, Papua New Guinea Military Pact Will See Steady Increase Of US Troops.
- Satellite Image Reveals Supersonic Drone At Chinese Military Base.
- Is AI Going To Be Just Another Protected Bubble For The Elite?
- 'Draft Tucker' PAC Shuts Down Following Legal Threat From Carlson.
- The Western Media Disinformation Campaign: Fall Of Bakhmut, A Case In Point.
- "Disruption In DC Is Not Going Away Anytime Soon" - Trillion-Dollar Fund Already Betting On 'Another' Debt-Ceiling Debacle.
- US stocks declined amid debt limit impasse, US-China frictions and mixed data - Newsquawk Asia-Pac Market Open.
- New York Democrats Urge Biden To Fast-Track Illegal Alien Work Permits.
- Former Deputy Nat'l Security Adviser: FBI, CIA & DOJ Will Rig 2024 Election
- The Absurdities Of Our Age.
- The Biggest Revelation From The Durham Report.
- Confirmed: Militants Used American Armored Vehicles To Attack Inside Russia.
- Judge Tosses Kari Lake's Latest Legal Challenge Despite "Inconsistencies".
- Stocks hit on debt ceiling impasse and US-China trade dispute - Newsquawk US Market Wrap.
- WTI Extends Saudi-Driven Gains After Big Surprise Crude, Gasoline Draws.
- Cracks beneath the surface.
- Hunter Biden IRS Whistleblower Alleges Retaliation After He Made Protected Disclosures.
- Debt-Ceiling Doubts Finally Weigh On Stocks; Bonds & Gold Bid.
Wall Street Journal:
- Musk Wants to Challenge Google and Microsoft in AI.
- A Lawsuit to Protect Pensions From Climate Politics. Workers say New York pension funds can’t use their savings to serve Bill de Blasio’s policy goals.
- Fighting in Russian Border Region Enters Second Day.
- A Housing Bust Comes for Thousands of Small-Time Investors.
- Retailers Clamp Down on Returns.
- Biden Has No Good Options in Debt-Ceiling Fight.
- Target to Pull Some LGBT-Themed Merchandise After Customer Backlash.
- PacWest Sells Real-Estate Lending Unit.
CNBC.com:
- Ron DeSantis lines up business leaders to raise money for 2024 presidential run.
- ‘Hurricane has landed:’ Activist investor doubles down on office space short.
- Republicans question June 1 debt ceiling deadline as talks zero in on potential trade-offs.
- HBO Max is just ‘Max’ now—the 4 things to know about the new service.
MarketWatch:
- Organized retail crime is definitely a thing, says BJ’s CEO: ‘We see it, and it is material’.
- A debt-ceiling deal will spark a new worry: Who will buy the deluge of Treasury bills?
- Palo Alto Networks, software industry to undergo AI ‘transformation’ over next 12 months, CEO says.
- Investors should put more money in gold and cash as rally in stocks won’t last, top JPMorgan analyst says.
- Goldman Sachs says weak investment flows suggest limited upside for the S&P 500.
- U.S. surgeon general warns that social-media use poses a ‘profound risk of harm’ to children.
Fox News:
- Target CEO said woke capitalism 'great' for brand days before LGBTQ merch debacle
- Professor holds machete to New York Post reporter's neck after destroying pro-life display
- House votes to end Biden’s crackdown on gas-powered trucks, four Dems join GOP
TheGatewayPundit.com:
- O’Keefe Media Group: Special Assistant to John Fetterman Says the Democrat Senator is ‘Okay with Overturning the Second Amendment’ (VIDEO).
- AWFUL: Leftist Reporter Starts Swearing at Press Conference After Kari Lake Shoves the Truth in His Face (VIDEO).
- Gateway Pundit Exclusive: MAJOR FRAUD EXPOSED – Democrat Donations Harvesting Operation Confirmed in Missouri – With Video Proof.
- UPDATE: 19-Year-Old Man ‘Sai Varshith Kandula’ From St. Louis Suburb Was Driving U-Haul that Rammed Into White House House Barriers with “Nazi Flag”.
- Target Execs Hold EMERGENCY MEETING to Avoid a “Bud Light Situation” After Hiring Trans Satanist to Design Satanic Kids Pride Clothing.
- Beef Company CEO: “I’ll Shut Down the Company Before We Ship a Single Bag With mRNA-Injected Meat”.
- Howard Graduates Trash Joe Biden During Commencement Speech with Honest Feedback: “This is the Worst Graduation of My Life… Howard, You Disappointed Us Tremendously” (VIDEO).
- Dem Strategist Says Florida is Becoming a ‘Terrorist State’ But That Didn’t Stop Her From Spending Spring Break There (Video).
- Democrat Rep. Jayapal Says There Will be “A Huge Backlash…in the Streets” if White House Caves to McCarthy and Agrees to Spending Cuts (VIDEO).
- Leaked Memo Shows Biden Regime is Ending DNA Testing of Children at The Border to Stop Child Trafficking.
The Epoch Times:
Twitter:
- @45LVNancy - 2024 will be another disastrous election unless the @GOP makes some moves. (cartoon)
- @SpeechUnion - "People have publicly 'cancelled' their closest friends. Nothing is off limits. Family issues, mental health, relationships — all of it can and will be used against you." An anonymous student reveals what it’s like to be an Oxford University student.
- @DrLoupis - Climate Scam: Scotland’s wind turbines have been secretly using diesel generators. (video)
- @Liz_Wheeler - Tag @Target. Make them answer: Do you stand by the Satanist you hired to design your Pride merchandise for children??
- @WallStreetSilv - Rent Inflation Re-Accelerates to Red-Hot. This is bad news on the inflation front. (graph)
- @disclosetv - JUST IN - German Economics Minister Habeck (Green Party) now wants to screen the heat and electricity consumption of all citizens over the last three years, according to a "decarbonization" draft law — BILD.
- @LeadingReport - BREAKING: Mike Tyson confirms that Jamie Foxx suffered massive stroke following COVID vaccine.
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 961,352 Reports(+1,715 from prior week) Through May 12th, 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 modestly lower, weighed down by industrial and tech shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 25% net long heading into the day.
- Asian equity indices are unch. to -.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 124.75 -1.0 basis points.
- China Sovereign CDS 69.25 +2.0 basis points.
- China Iron Ore Spot 99.5 USD/Metric Tonne -.5%.
- Bloomberg Emerging Markets Currency Index 47.1 -.05%.
- Bloomberg Global Risk-On/Risk Off Index 57.8 +.7%.
- Bloomberg US Financial Conditions Index -.12 -2.0 basis points.
- Volatility Index(VIX) futures 19.95 -.48%.
- Euro Stoxx 50 futures -.41%.
- S&P 500 futures +.15%.
- NASDAQ 100 futures +.17%.
BOTTOM LINE: Asian indices are modestly lower, weighed down by industrial and tech shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 25% net long heading into the day.
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