Evening Headlines
Bloomberg:
- Japan Price Growth Accelerates Ahead of BOJ Inflation Update.
- US Increases Troop Presence in Middle East Amid Iran Tensions.
- Popular Taiwan Mayor Stumbles in Bid to Lead in US-China Hotspot.
- ‘Cursed’ Nations Want to Turn Green Minerals Boom Into a Blessing.
- Asian Stocks Under Pressure After Wall Street Drop: Markets Wrap.
- Fed-Driven ‘Category 5 Hurricane’ Has Billionaire Sternlicht Eyeing Bargains.
- Here Are the Biggest Risks to Markets, According to Three Wall Street Titans.
- Toxic Posts on Economist Job Website Traced to Users from Elite Universities.
- FTC to Pause Microsoft Merger Trial, Opening Door to Settlement Talks.
- Biden Creates Team to Find Ways of Ending Debt-Limit Standoffs.
- Billionaire Sternlicht Sees ‘Category 5 Hurricane’ Spurred by Fed Rate Hikes.
- Fed Launches Long-Delayed Payments Network for Instant Bank Transfers.
- US Virgin Islands Fails to Block JPMorgan’s ‘Unclean Hands’ Epstein Defense.
- TSMC’s Arizona Delay Poses Risk to Biden’s Push for US-Made Chips.
Zero Hedge:
- Grassley Releases Bombshell FBI Doc Discussing $10MM Biden Bribe; Burisma Boss Said Hunter 'Dumber Than His Dog'
- Unprecedented Hedge Fund "Destruction" Sparks Massive Degrossing As Offside Exposure Hits March 2020 Crash Levels.
- "Go Somewhere That Understands Your Worth" - Los Angeles Police Union Boss Tells Cops Leaving City.
- Pushback Forces Major Retailer To Shelve Graphic Book On Sex Aimed At 10 To 15 Year Olds.
- Robert Malone: You Are The Population They Want To Control.
- Video Of Deserted Mall And Streets In Downtown San Fran Reveals Democrats Destroyed City.
- China's Digital Yuan Nears $250 Billion Transaction Volume; Central Bank Governor.
- Chinese Hackers Access Email Of US Ambassador, Compromise "Hundreds Of Thousands" Of US Government Emails.
- Lab-Grown Artificial 'Meat' May Actually Be Worse For The Environment.
- FBI Official Admits Under Oath They Knew Hunter Biden Laptop Was Real.
- No Sanctuary: NYC Shoos Migrants Away, Warns "No Guarantee" Of Shelter, Services.
- Nasdaq suffered its second-worst day of the year amid earnings disappointment and rising yields - Newsquawk Asia-Pac Market Open.
- As FedNow Launches, Fed Reassures Public That 'Service Has No Relation With CBDCs'.
- Scientist Who Privately Said Lab-Leak 'Not Some Fringe Theory' Calls Reporting On This A 'Conspiracy Theory'.
- Yellow Blames Teamsters For Liquidity Crunch, Union Barks Back.
- Emergency Bank Bailout Facility Usage Remains At Record Highs; Fed 'QT' Accelerates.
- Stocks sink as earnings underwhelm and low jobless claims ignite the Dollar and yields - Newsquawk US Market Wrap.
- Bonds, Big-Tech, Bullion, & Bitcoin Breakdown As Greenback Gains.
Wall Street Journal:
- Sergey Brin Is Back in the Trenches at Google.
- U.S. Ambassador to China Hacked in China-Linked Spying Operation.
- Housing’s Recession Already Happened.
- This Arkansas Town Could Become the Epicenter of a U.S. Lithium Boom.
- Biggest Winners From U.S. Climate Law: Foreign Firms.
- Blackstone Wins Private Equity’s Race to $1 Trillion.
CNBC.com:
- FTX accuses Sam Bankman-Fried of funding criminal defense with $10 million in misappropriated funds.
- Airline cargo revenue is cratering. Here’s why that’s actually good news.
- Federal Reserve officially launches new FedNow instant-payments service.
- How Samsung and Texas Instruments made the Lone Star State the hub of U.S. chip manufacturing.
- Stocks making the biggest moves after hours: CSX, PPG Industries and more.
MarketWatch:
- Here are the latest signs that Americans are running out of savings.
- Opinion: ‘Overbought does not mean sell.’ Stock bulls and this market have room to run.
- Tesla and Netflix are ‘terribly overvalued’ says New Constructs.
- Bond market starts to fret about return of inflation on strength of U.S. labor market.
- Tornado damage at Pfizer facility threatens to make critical drug-supply shortages even worse, experts say.
Newsmax:
Fox News:
TheGatewayPundit.com:- New York City Agrees to Pay Violent BLM-Antifa Protesters $13 Million After 450 Businesses Were Damaged in the Riots.
- RECAP of President Trump’s Special Screening of “Sound of Freedom”! PHOTOS AND VIDEOS OF PRESIDENT TRUMP’S FIRST REACTION TO THE MOVIE WITH CAST! “When God Tells You What To Do, You Do Not Hesitate.”
- Breaking: Rand Paul Criminally Refers Dr. Fauci to DOJ For Prosecution For Lying to Congress About Gain-of-Function.
- BREAKING: Grassley Releases FBI Document Showing Joe Biden Was Involved in $10 Million Bribery Scheme with Burisma Executive – Biden FORCED Oligarch to Pay Up!
- FIFA Begs Fans to ‘Do the Right Thing’ and Buy Tickets as Women’s World Cup Gets Underway with Many Unsold Seats.
- MARK YOUR CALENDAR: Presidential Candidate Robert Kennedy, Jr. to Discuss Today’s Weaponization Hearing, Government Censorship and Silencing of American Voices on Friday Twitter Space Hosted by Eric Bolling, With Guests Jim Hoft, Joe Hoft and the Bollingers at 3:00 pm Eastern.
- FBI Knew Hunter Laptop Was Authentic in 2019 But Lied to Social Media Companies So Story Would be Censored During 2020 Election.
- “Every Statement You Made About Me is Inaccurate…These Are Defamations Used to Censor Me” – RFK Jr. Goes Scorched Earth on Nasty Democrat After She Slanders and Advocates Censoring Him During Her Opening Statement (VIDEO).
- You Can’t Make This Up: House Democrats Vote to Censor RFK Jr. During Hearing on Censorship (VIDEO).
- WARNING TO PARENTS: Barbie Movie Is Woke Propaganda – Doll-Smashing, Woman-Bashing, Anti-Mother, Pro-Trans Filth Aimed at Little Girls (VIDEO).
- Docuseries “Remedy” Offers Hope for Those Suffering from Vaccine Damage.
The Epoch Times:
- GOP House Candidate Criticizes CCP Ideologies, China’s Organ Harvesting.
- US Stands ‘In Solidarity’ With Falun Gong 24 Years Since CCP’s Persecution Began: State Department.
Twitter:
- @The_Real_Fly - TRUMP REVIEWS “SOUND OF FREEDOM” — BOLD MOVE PRAISING AN ANTI PEDOPHILE FILM * (video)
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 969,243 Reports(+2,348 from prior week) Through June 30th, 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 technology and consumer shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 50% net long heading into the day.
- Asian equity indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 110.50 +1.5 basis points.
- China Sovereign CDS 63.5 +1.75 basis points.
- China Iron Ore Spot 113.1 USD/Metric Tonne -1.43%.
- Bloomberg Emerging Markets Currency Index 43.4 -.14%.
- Bloomberg Global Risk-On/Risk Off Index 65.4 +1.4%.
- Bloomberg US Financial Conditions Index .40 -7.0 basis points.
- Volatility Index(VIX) futures 15.80 -.29%.
- Euro Stoxx 50 futures -.34%.
- S&P 500 futures +.06%.
- NASDAQ 100 futures +.03%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and consumer shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 50% net long heading into the day.
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