Evening Headlines
Bloomberg:
- England’s Health Crisis to Deepen Amid Latest Doctors’ Strike
- Foreigners Are Flocking to New Zealand, Immigration Data Show.
- Wall Street Momentum to Support Asian Stocks Open: Markets Wrap.
- Apple Shares Close at Record in Latest Sign of Big Tech’s Dominance.
- San Francisco Dealt Another Blow as Westfield Walks Away From Downtown Mall Property.
- NYC Police Commissioner Keechant Sewell Resigns, Adams Says.
- Instant Pot and Pyrex Maker Instant Brands Files for Bankruptcy.
- Google CEO Vows Not to Rush AI and Says Efficiency Drive Continues.
- Chegg Slashes 4% Of Workforce Following Shift to Embrace AI.
- Citigroup Warns Bond Traders Are Misreading Inflation Ahead of CPI.
- Five Things You Need to Know to Start Your Day.
Zero Hedge:
- "He's Always Been A C**t": Rogan Rips Biden Over Lifetime Of Lies, Shady Ties To Ukraine And China
- Female-Only Spa With Compulsory Nudity Must Admit 'Transgender Women' With Penises: Judge.
- CPI Set For "Historic" Drop Over "Next Two Months".
- "Rantings Of A Demagogue" - Parents Angered By Princeton President's Graduation Address.
- As Panama Canal Hit With Draft Restrictions, Goldman Says Shippers Have Three Options.
- Goldman: This Is A Rally People Don't Believe In, But Have Finally Given Up Fighting Against.
- Saudi Arabia, China Ink $10 Billion In Investment Deals.
- Women's Group To Spend "Tens Of Millions" To Boost Kamala's Image.
- Pre FOMC FOMO.
- Notes From The Memory Hole: The Great Double-Talking Vaccine Scientist.
- US stocks gained with the S&P 500 and Nasdaq 100 at fresh YTD highs as yields eventually softened ahead of key events - Newsquawk Asia-Pac Market Open.
- US Lawmakers File "SEC Stabilization Act" To Fire Gary Gensler.
- Watch: McCarthy Destroys CNN Reporter When Asked About Classified Doc Scandal.
- Big Tech squeezes market higher into CPI and FOMC - Newsquawk US Market Wrap.
- 11 Signs That Our Economic Problems Are Accelerating A Lot Faster Than Most People Were Anticipating.
- Can Americans 'Handle The Truth'?
- Bonds, Banks, Bullion, & Black Gold Dip As Mega-Cap Tech Continues To Rip.
- Moving To 'Wall Street South' From NYC Can Save You Up To $200k.
Wall Street Journal:
- Jerome Powell’s Big Problem Just Got More Complicated.
- Executives Quiet Their Diversity, Sustainability Talk.
- Companies That Embraced Social Issues Have Second Thoughts.
- Xi Prepares China for ‘Extreme’ Scenarios.
- Hotel Owners Start to Write Off San Francisco as Business Nosedives.
- Oil-Field-Services Companies Hold Merger Talks.
- U.S. Spy Agencies Buy Vast Quantities of Americans’ Personal Data, U.S. Says.
CNBC.com:
- Big banks are talking up generative A.I. — but they’re not diving in headfirst.
- ILWU Canada West Coast port workers support strike in landslide vote.
- Amazon is using generative A.I. to summarize product reviews.
- FTC files to block Microsoft-Activision as deadline approaches.
- Oracle beats on top and bottom lines as cloud revenue jumps.
- Twitter CEO Linda Yaccarino echoes Musk in emphasizing freedom of speech in debut tweet thread.
MarketWatch:
- ‘This is something huge for us’: Food-delivery workers in New York set to earn $18 minimum wage next month
- Investors increasingly expect U.S. stock-market rally to continue as bears finally surrender.
- Bank of America executives blew $93.6 billion. Here’s how they did it.
- Jump in cloud revenue lifts Oracle’s results, and stock gains after hours.
Fox News:
TheGatewayPundit.com:
The Epoch Times:- Conservatives Call for Kellogg’s Boycott After Dylan Mulvaney Poses with Tony the Tiger at the Tony Awards (VIDEO).
- Sen. Chuck Grassley Reveals Foreign National in Alleged Biden Burisma Bribe Scheme Has 17 Audio Recordings of Joe and Hunter Biden He Kept as “Insurance Policy” (Video)
- Trump Attorney General William Barr Reveals He Had Intimate Knowledge of Biden Ukraine FD-1023 Investigation in Summer 2020; Failed to Tell American People Joe Biden Was Credibly Accused of Taking $5 Million Foreign Bribe as Vice President.
- Joe Biden To Group of LGBTQ+ Supporters: This is Most Courageous Group “I’ve seen in anytime in the recent past”…Forgets 13 Military Members Murdered By Terrorists While Protecting Airport In Hostile Afghanistan With No Support [VIDEO].
- “TRANTIFA”…UN Investigator and Republican Lawmakers Warn Of New Violent Extremist Group [VIDEO].
- Comer Says More FBI Documents Detailing Biden Bribery Scheme Exist (VIDEO).
- Award-Winning 42 Year Old ESPN Director and Former Athlete Dies After Suffering Unknown Medical Emergency at NCAA Baseball Tournament.
- Jeffrey Epstein Trafficking Ring: JPMorgan Chase Bank Settles With ‘Jane Doe’ Victim – Value Is Said to Be $290 Million.
- Louisiana Sovereignty Resolution Should Be Model for Entire Nation as DC Government Becomes Increasingly Lawless.
- FOX News Sends Tucker Carlson Cease and Desist Letter as His Twitter Videos Crash 100 Million Views – His Attorney Responds.
Twitter:
- @The_Real_Fly - DEGENERACY ON THE WHITE HOUSE LAWN *. (video)
- @FxHedgers - AMERICANS SHOULD PREPARE FOR CYBER SABOTAGE FROM CHINESE HACKERS: US OFFICIAL.
- @jsolomonReports - DON'T BACK THE COURT PACK! | POLL SHOWS MOST AMERICANS AGAINST COURT PACKING.
- @stkirsch - If you think the FDA cares about safety and transparency, you should read this article right now. You'll see that they really don't. There is no doubt about it.
- @SayNoToSino - Marriages in China slump to historic low - Reuters.
- @CitizenFreePres - Children are watching this garbage at DC parade. (video)
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 higher, boosted by tech and industrial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
- Asian equity indices are -.25% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 113.75 -.25 basis point.
- China Sovereign CDS 61.5 +.25 basis point.
- China Iron Ore Spot 108.9 USD/Metric Tonne -.02%.
- Bloomberg Emerging Markets Currency Index 45.1 -.04%.
- Bloomberg Global Risk-On/Risk Off Index 60.8 +.78%.
- Bloomberg US Financial Conditions Index .04 -3.0 basis points.
- Volatility Index(VIX) futures 17.1 -.3%.
- Euro Stoxx 50 futures +.46%.
- S&P 500 futures unch.
- NASDAQ 100 futures +.06%.
BOTTOM LINE: Asian indices are mostly higher, boosted by tech and industrial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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