Evening Headlines
Bloomberg:
- Stress Is Building in China’s $12 Trillion Onshore Credit Market.
- Zelenskiy to Visit NATO to Rally Support for Ukraine Membership.
- Turkey Agrees to Back Sweden’s NATO Bid in Boost to Alliance.
- UK Retailers Saw Sales Growth Accelerate in June With Jump in Food Prices.
- Asia to Follow Wall Street Up After China Property Aid: Markets Wrap.
- Oil Steadies as China Takes Measures to Revive Ailing Economy.
- Uber, DoorDash Sue NYC to Bar New Minimum Wage Rule for Food Delivery Workers.
- Chocolate Prices Keep Rising, but That's Not Stopping Americans From Buying.
- Fed Officials Say Higher Rates Needed to Reach 2% Inflation Goal.
- Poisoned Cough Syrup Killed Kids. Authorities Cut the Investigation Short.
Zero Hedge:
- Kremlin: The US Just Confessed To Imminent War Crimes In Ukraine
- Viral TikTok Boat Challenge Leads To "Instant Death"
- Hottie Attorney Departs From Trump Defense Team In New York Civil Fraud Case
- Wobbly big tech.
- Trump Raises $35 Million In Second Quarter, Reinforcing Frontrunner Status.
- Biden: 'War With Russia Must End Before Ukraine Can Enter NATO'.
- Vanlords – A New Form Of Urban Encampment.
- Victor Davis Hanson: Illegal Immigration And Western Spiritual Sickness.
- Near-Term Inflation Expectations Tumble To 2 Year Low As Longer-Term Price Outlook Unexpectedly Jumps.
- Biden Seeks To End Cheaper Obamacare Alternatives, Expect Another Supreme Court Smackdown.
- US stocks gained amid a cyclical bias and encouraging inflation proxies - Newsquawk Asia-Pac Market Open.
- The Smiling Face Of Censorship: Welcome To Zuckerberg's Vision of Internet "Kindness".
- Beijing Sees 'Rainbows' & Yellen Touts 'Success' After China Visit, But Deep Uncertainty Looms.
- Shocking Drop In Auto Loans Results In Weakest Consumer Credit Print Since 2020.
- Cyclicals extend gains amid promising inflation proxies ahead of CPI on Wednesday - Newsquawk US Market Wrap.
- Bonds Bid As Hawkish 'High(er) For Long(er)' FedSpeak Spooks Growth Stocks.
Wall Street Journal:
- The Country With the Highest Murder Rate Now Has the Highest Incarceration Rate.
- A Chicago Suburb Pays Reparations in a ‘Test Run for the Whole Country’.
- Affirmative Action Bred 50 Years of ‘Mismatch’. Thinking elite schools are the only path to success for students is a form of intellectual snobbery.
- America Is Wrapped in Miles of Toxic Lead Cables.
- Wagner Leader Met With Putin Days After Revolt.
- Five Ways the Bull Market Makes Investors Nervous.
- America’s Biggest Banks Are Going to Need More Capital.
- Bayou Teche Is an Epicenter of America’s Lead Cable Problem.
- Europe Probes Whether Ozempic Raises Risk of Suicidal Thoughts.
- On Ozempic, and Feeling Judged for Taking the ‘Easy Way Out’.
- Retailers Set Higher Bars for Free Shipping as Delivery Costs Surge.
CNBC.com:
MarketWatch:
- USPS raises stamp prices for the third time in past year.
- Why this is not a good time to put more money into stocks.
- Better Therapeutics stock surges on ‘big milestone’ after FDA approves smartphone-based diabetes treatment.
- Uber CFO Chai plans to leave, timing to be decided: report.
- Thousands more Los Angeles hotel workers strike, pushing for wage hikes and better workloads.
- Nvidia ‘should have at least 90%’ of AI chip market with AMD on its heels..
- As bank earnings season begins, these 20 have had the largest cuts to estimates.
Newsmax:
- Biden To Meet With Erdogan, Zelenskyy at NATO Summit.
- Alex Acosta: Recession 'Likely' Due to Spending.
- Western Allies Finalize Ukraine Security Assurances as NATO Meets.
Fox News:
TheGatewayPundit.com:
- BREAKING: Biden DOJ Indicts Whistleblower Gal Luft Days After He Releases Video Detailing Criminal Allegations Against Biden Crime Family.
- Biden Regime in a Rush to Jail Trump – DOJ Opposes Delay in Pretrial Hearing in Trump Classified Docs Case.
- Sam Smith Performs Raunchy Sexualized Booty-Shaking Fetish in Open-A$$ Leggings and Boots in Madrid – At Family Friendly Concert (Warning on Video).
- Clinton-Appointed Liberal Judge Rules Wisconsin School Must Let Trans-Identifying Biological Male Students Use Girls’ Restroom.
- Christian Precious Metals Company Opposes Central Bank Digital Currencies Because of the Freedoms They Steal.
- YouTube Deletes Australian Politician’s Parliamentary Speech on COVID-19, Claiming it’s ‘Medical Misinformation’ (VIDEO).
- Illinois Law Now Forces Landlords to Rent and Sell Property to Illegal Immigrants Amidst Soaring Urban Housing Costs.
- What a Joke. Mike Pence Takes Credit for Trump’s Tough Stand that Prevented Putin from Invading Ukraine During His Watch (VIDEO).
- Jamie Foxx Spotted in Public for the First Time Following Mysterious ‘Medical Complication’ (VIDEO)’.
- “This S**t is Ridiculous!”- Dad Goes Scorched Earth on Gender Ideology and the Woke Doctor for Trying to Brainwash His Innocent Son (VIDEO).
- Peru Declares National Health Emergency Following “Unusual Increase” in Guillain-Barre Syndrome that May Be Linked to COVID Vaccine.
- Damaged Solar Panels from Hail Storm Will Likely End Up in Landfill Because Recycling Isn’t Possible.
The Epoch Times:
- ANALYSIS: CCP Poised to Expand Security Footprint in Latin America With New Port in Argentina
- Directly Elected Seats for Hong Kong District Councils Reduced to 20%, Ensuring Dominance Returns to the Pro-Beijing Camp
Twitter:
- @FoxNews - 'CAULDRON OF CAFFEINE': @SenSchumer is urging the FDA to investigate Logan Paul's energy drink that's gaining popularity among children.
- @BrandonStraka - Conservatives are standing up to authoritarian woke progressivism by boycotting companies who push anti-American agendas and its WORKING. Don’t let up! (video)
- @danharris - BREAKING NEWS: China demands Goldman Sachs lie about the state of China’s economy. China’s economy is in the toilet, and continuing to worsen. But nobody can say this for fear that the 25+ percent of unemployed youth will find out and start protesting.
- @TomFitton - "Sound of Freedom" is trending because the Left is angry about a movie that exposes the sex trafficking of children. (video)
- @HayekAndKeynes - Wages up, productivity down. (graph)
- @TheChiefNerd - “The faith-based movie about child sex trafficking has collected an impressive $40 million after six days of release. ‘Sound of Freedom’ was originally set at 20th Century Fox and was completed in 2018 before Disney acquired the studio the following year and shelved the film. It’s now being distributed independently by Angel Studios”.
- @TotoSzilard70 - List of Pedo-Marxist Epstein Island visitors:
- @stkirsch - This is the story that got RFK Jr to look into whether vaccines cause autism. It's just 3 minutes long. EVERYONE should watch it. It's tragic. (video)
- @bambkb - Joe Rogan is waking up to the tyranny that is currently running the world and the push for CBDC’s/Social credit system: (video)
- @UltraDane - One needs to assume you're being played all the time, unless of course the MSM/Government endorses it, then it's believable.
- @Ultrafrog17 - Breaking: Tucker says the Chief of the Capitol police told him that the crowd on January 6th was filled with federal agents. He planned on airing that interview but was canceled before he could do so. (video)
- @gatewaypundit - Joe Biden Has No Campaign Headquarters, Has No Plans to Hold Campaign Events, Is Not Spending Campaign Money, and Democrats Aren’t Worried.
- @KimDotcom - Unfunded liabilities are simply just more debt if you never produce any profits. (graph)
- @DisruptorStocks - Inflation has bloated the EPS Growth. 75% of growth since Jan ‘22 was purely inflation. (graph)
- @Crushthemarket - Depletion is the new normal. #Oil reserves. Gee what could go wrong with a black swan emergency? (graph) Ponzi schemes need constant new money, otherwise it all collapses.
- @songpinganq - TSA expands controversial facial recognition program for security and cut waiting time. It's all fun and games until your social credit score doesn't permit you to board your plane or train. (video)
- @zerohedge - Biden's Endless Gifts To China.
- @ConceptualJames - This is the same CDC that wants authority in your kids' school.
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 966,895 Reports(+1,278 from prior week) Through June 16th, 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 technology and commodity shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 50% net long heading into the day.
- Asian equity indices are unch. to +1.0% on average.
- Asia Ex-Japan Investment Grade CDS Index 116.75 -2.25 basis points.
- China Sovereign CDS 63.75 -.25 basis point.
- China Iron Ore Spot 105.10 USD/Metric Tonne +1.4%.
- Bloomberg Emerging Markets Currency Index 43.4 +.04%.
- Bloomberg Global Risk-On/Risk Off Index 66.1 +.34%.
- Bloomberg US Financial Conditions Index .34 +3.0 basis points.
- Volatility Index(VIX) futures 16.6 -.5%.
- Euro Stoxx 50 futures +.26%.
- S&P 500 futures +.03%.
- NASDAQ 100 futures +.04%.
BOTTOM LINE: Asian indices are mostly higher, boosted by technology and commodity shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 50% net long heading into the day.
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