Evening Headlines
Bloomberg:
- Biden’s ‘Dictator’ Xi Riff Undercuts Painstaking China Diplomacy.
- China Begins Nationwide Push to Reveal Hidden Government Debt.
- US Warns of China’s IP-Theft ‘Playbook’ for AI, Advanced Tech.
- China Wants to Buy Off Europe. The Price Is Too High.
- Yen Slides to Seven-Month Low as Powell Underscores Policy Gap.
- Goldman Adds to Calls on Overvalued Mexico Peso After Big Rally.
- Asia Stocks Muted as Investors Weigh Rates Outlook: Markets Wrap.
- Powell Signals Higher Rates as Lawmakers Press Him on Bank Rules.
- Here Are the Key Takeaways From Powell’s Testimony Before US House.
- Home Listings Plummet as High Mortgage Rates Tie Owners Down.
- Retail Army Bets Record $1.5 Billion on Stocks at Fastest Pace Ever, JPMorgan Says.
- Tesla Seen Staying as Top EV Seller in US Through 2026, Buoyed by Discounts.
Zero Hedge:
- Durham Goes Off On FBI, CIA, Schiff During Wednesday Testimony.
- Wearing Shirt Saying 'There Are Only Two Genders' Not Protected Speech, Rules Obama-Appointed Judge.
- Disney Chief Diversity Officer Latondra Newton Quits After Pair Of Box Office Bombs.
- House Votes To Censure Adam Schiff.
- Raytheon CEO Explains Why China Has US Military By The Balls.
- LGBT Schoolbooks For Kindergarten, Elementary Students At Center Of Parents' Lawsuit.
- Pentagon Paying The Price For Going 'Woke'.
- Google Cloud Launches New AI-Powered Anti-Money-Laundering Product For Big Banks.
- 'Only Human Creators': Grammys Set Rules Around AI And Music.
- Hedge Funds Sell US Stocks For 9 Of The Past 10 Days, "Position For Downside Risk": Goldman PB.
- Financial Hardship Surges As Cost-of-Living Crisis Squeezes Workers.
- US stocks declined for the third consecutive day amid a slew of Fed rhetoric and hot UK CPI data - Newsquawk Asia-Pac Market Open.
- Supreme Court Considering If 'Americans With Disabilities Act' Covers Gender Dysphoria.
- Prices Of Middle Eastern Oil Skyrocket On Sudden Surge In Chinese Demand.
- "Strange Days".
- Stocks post third down day as NDX underperforms ahead of BoE bombshell - Newsquawk US Market Wrap.
- 'Hawkish' FedSpeak Hits Big-Tech; Bitcoin Soars As The Buck Breaks Down.
Wall Street Journal:
- China Lashes Out at U.S. After Biden Calls Xi a Dictator
- Fox News’s Greg Gutfeld Rides ‘Anti-Woke’ Humor to Ratings Stardom
- U.S. Companies Held Hostage by the Whims of TikTok
- Rescuers Follow Banging Noises in Search for Missing Titanic Submersible
- Modi’s Vision for India Rests On Six Giant Companies.
- Elliott Seeks Ouster of NRG Energy CEO.
- U.S. Tracked ZTE, Huawei Workers at Suspected Chinese Spy Sites in Cuba.
CNBC.com:
- Google accuses Microsoft of unfair practices in Azure cloud unit.
- Powell expects more Fed rate hikes ahead as inflation fight ‘has a long way to go’.
- Intel stock drops 6% as company updates chip manufacturing plans.
- Weekly mortgage demand was flat, even as interest rates drop for the third straight week.
- Inside China’s spy war on American corporations.
- Pharmaceutical trade group sues Biden administration over Medicare drug price negotiations.
MarketWatch:
- Tesla’s stock suffers biggest one-day decline in months.
- Nvidia board member sells $51 million in stock, joining a pair of other long-timers in unloading shares.
- Amazon allegedly duped people into subscribing to Prime and made it nearly impossible to cancel. Here’s how feds say they did it.
- Boomers worried about a recession are selling their homes now.
- Economist who anticipated bank failures this spring says U.S. recession may be just around the corner.
Fox News:
- CEO of company behind missing sub didn't want 'White guys' piloting vessels.
- Titanic sub 'did not perform well,' doc was nixed over safety concerns.
- Adam Schiff hit with punishment for 'false' Trump-Russia collusion allegations.
TheGatewayPundit.com:
- VOTE PASSES! US House of Representatives Votes to Censure Adam Schiff – 213 Republicans Vote “Yes” to Seal the Deal!
- BREAKING: Democrats Chant “Shame!… Shame!…” After Adam Schiff Is Censured for LYING REPEATEDLY to American Public About Trump-Russia Hoax.
- Trump-Appointed Judge Who Previously Donated to Hillary Clinton, McCain and Romney Assigned to Hunter Biden Case.
- Boston First Responders Horrified to Find Four Children at Transgender-Drag Party with a Dead Body and Drugs and Sex Toys Scattered Throughout the Home.
- WHY ARE CELEBRITIES PUSHING THIS BEHAVIOR? Sick Video Shows NFL Hall-of-Famer Michael Strahan Praising Little Boy Who Danced For Money In Gay Bar [VIDEO].
- Biden Mocks “Tree of Liberty” Second Amendment Supporters: “You Need an F-16” to “Work Against the Government”.
- Can’t Come Soon Enough – MT Greene is Converting Articles of Impeachment Against Dirty Chris Wray into Privileged Resolution – Forcing Full House Vote.
- Even CNN Acknowledges Impact Of Boycotts On Woke Corporations — “The Pressure Is Working On The C-Suites – They Are Pulling Back”.
- “How Dare You!” – Five Years Ago Today, Climate Change Hoaxer Greta Thunberg Said the World Would End.
- Dr. Ben Hu, Patient Zero? New FOIA Documents Released Reveal a ‘Smoking Gun’: COVID Was Created at Wuhan Lab, Escaped From ‘Gain of Function’ Research – And Was Financed by US Taxpayer Money!
- Dirty Facebook META Announces Release of “Twitter Rival” Called THREADS So They Can Censor, Ban and Silence Conservatives on a Whole New Platform.
- US and China ‘Drifting Into War’: Former Joint Chiefs Chairman.
- US ‘Working to Disrupt’ Chinese Expansion in Cuba: State Department.
Twitter:
- @TuckerCarlson - Ep. 5. As in most of the developing world, it's safer to be the president's son than his opponent. (video)
- @XVanFleet - Some may have missed this video clip which Tucker covered in one of his Dec 2020 shows. Top Chinese professor Di Dongsheng bluntly implied in a 2020 televised conf that it was the CCP who set up the foundations for Hunter Biden.
- @Fxhedgers - TAIWAN ON ALERT FOR CHINESE-FUNDED ELECTION INTERFERENCE: RTRS.
- @JamesOKeefeIII - BREAKING: @BlackRock Recruiter Who “Decides People’s Fate” Spills Info on Company’s World Impact “It’s not who the president is- it’s who’s controlling the wallet of the president” “You got $10K? You can buy a senator" “War is real f***ing good for business”. (video)
- @zerohedge - Goldman Offers 5 Reasons To Start Hedging The Equity Melt-Up. (graph)
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 964,389 Reports(+1,106 from prior week) Through June 2nd, 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 lower, weighed down by financial and technology 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 -.50% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 113.75 +.75 basis point.
- China Sovereign CDS 58.75 -.5 basis point.
- China Iron Ore Spot 111.0 USD/Metric Tonne +.3%.
- Bloomberg Emerging Markets Currency Index 45.3 +.04%.
- Bloomberg Global Risk-On/Risk Off Index 63.1 +1.3%.
- Bloomberg US Financial Conditions Index .31 -3.0 basis points.
- Volatility Index(VIX) futures 16.3 +.6%.
- Euro Stoxx 50 futures -.21%.
- S&P 500 futures +.02%.
- NASDAQ 100 futures -.02%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by financial and technology 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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