Evening Headlines
Bloomberg:
- PBOC Adviser Says China Urgently Needs to Boost Consumption.
- China Finance Giant’s Missed Payments Alarm Regulators, Markets.
- Taiwan’s Election Is All About War.
- Yen Weakens Toward Level That Prompted September Intervention.
- PBOC’s Yuan Fix Is Losing Its Bite as Bearish Sentiment Mounts.
- Asian Stocks Advance After US Tech Shares Gain: Markets Wrap.
- Hollywood Studios Offer Writers a New Deal With Push From Netflix, Iger to End Strike.
- Michael Burry Exits Alibaba, JD.com Stakes in Portfolio Overhaul.
- Hawaiian Electric’s Future in Doubt After $1 Billion Meltdown.
- Biggest Treasury ETF Sees Largest Exodus Since 2020 Meltdown.
- Tiger Cubs Pared Tech Stakes as Other Asset Managers Dove In.
- Zero-Day Options Cement Presence in Reversal-Ridden Stock Market.
Zero Hedge:
- "Death Scientists?": Tucker And RFK Jr. Talk Ukraine, Biolabs, And Who Killed His Uncle
- Georgia Court Claims Trump RICO Document Was "Fictitious".
- FDA Approved 65% Of New Drugs In 2022 Based On A Single Study.
- It's Not Just The Office: School Attendance Rates "Plummeting" As COVID's "Stay At Home" Effects Linger.
- "This Is Like A Nightmare": Mother Of Jan. 6 Prisoner Becomes Desperate As Her Son Goes Silent From Prison.
- Age Of Rage: UChicago Report Finds 30 Million American View Violence As Justified To Keep Trump From Power.
- 'Bidenomics' Leaves Americans Becoming Homeless At "Record Rate".
- Ramaswamy Vows To "Shut Down The Three-Letter Agencies".
- West Coast Collapse: America's Most Affluent Regions Are Dying Under Democrat Control.
- Joe Biden's Race Against The Truth.
- John Bolton Says Biden's Policy Only Assures Ukraine's Slow Demise.
- US stocks finished mostly higher amid tech strength, while bond selling persisted - Newsquawk Asia-Pac Market Open.
- CBDCs: The Ultimate Corruption Of Money.
- Biden Team, Secret Service Tipped Off Before Hunter Skipped Out On FBI Interview: Agent.
- Maui Wildfires Now Deadliest US Blaze In 100 Years; Only 3% Of Area Searched.
- Skittles Are The Latest Bud Light After Releasing Trans BLM Packaging.
- Tell-All Book Reveals Pentagon Knew Kabul Airport Attack Was Coming Days In Advance.
- "Shoeless Joe" And The Fixing Of The Biden Scandal.
- Nasdaq leads gains on NVDA rally while bonds continue to bear-flatten - Newsquawk US Market Wrap.
- Are we wrong not to be max long?
- Big-Tech Bounces; Bonds, Bitcoin, & Black Gold Struggle As Rate-Hike Odds Rise.
Wall Street Journal:
- Maui Wildfire Death Toll Climbs to 96 as Residents Brace for More Victims.
- The Economic Losers in the New World Order.
- Colleges Can Consider Race in Admissions Within Limits, Biden Administration Says.
- More Americans Are Ending Up Homeless—at a Record Rate.
- China’s Deepening Housing Problems Spook Investors.
- The $900,000 AI Job Is Here.
CNBC.com:
- Japan’s economy grew 6% in the second quarter, far more than expected.
- Stocks making the biggest moves after hours: Discover Financial, Lennar, Getty Images and more.
- DeSantis urges Bob Iger to drop Disney lawsuit, accept the end of ‘special privileges’.
- Nvidia stock jumps 7% after Morgan Stanley says chipmaker benefits from ‘massive shift’ in A.I.
- UBS to pay $1.4 billion over fraud in residential mortgage-backed securities.
- Four reasons why the consumer is so confusing — and what that may mean for retail earnings.
MarketWatch:
- Stock screen spotlights 20 companies whose 2024 earnings estimates have risen most sharply.
- Risky bonds are facing a ‘maturity wall’ that could sow more panic in markets.
- U.S. Steel stock soars nearly 40% after company rejects $7.3 billion Cleveland-Cliffs offer, new bid emerges.
- China-focused ETFs drop as country’s property woes highlight ‘recession risks in China are real’.
Newsmax:
Fox News:
- EXCLUSIVE: Hawaii Democrat stunned by Biden’s 'no comment' on deadly wildfires.
- Riley Gaines slams Trudeau after trans powerlifter sets unofficial women's world record .
- Report: Engineers Discover Nationwide Cellular Network Connects Election Equipment and Gives Federal Government Access to Election Systems at Precinct Level.
- Kansas Newspaper Co-Owner Dies Following Unprecedented Raid by City’s Entire Police Force – Seized Computers and Equipments to Protect Prominent City Figure
- Before it Even Goes on Sale, Facebook and Instagram Ban Ads for New Mark Levin Book “The Democrat Party Hates America”
- Trump Lawyers Blast Corrupt Fulton County DA For Prematurely Posting RICO Charges on Website – County Clerk Claims Docs “Fictitious”.
- Victor Reacts: WHAT? Largest Catholic Healthcare System in the Country Partners With Abortion Provider (VIDEO).
- Crypto Scammer Sam Bankman-Fried Charged with Using Stolen Funds to Make More Than $100 Million in Campaign Donations Ahead of 2022 Midterms.
- Joe Biden to Travel to Ritzy Lake Tahoe For a WEEK This Friday While Ignoring Dead Americans in Maui.
- BREAKING: Corrupt Fulton County Court Website Posts RICO Charges Against Trump Before Grand Jury Has Voted – Takes Down Docs without Explanation.
- America Last: Biden Regime Sends Another $200 Million in Aid to Ukraine, While No Comment on Maui, Hawaii.
- Argentina: Javier Milei, Right-Wing Candidate, Wins Primary Elections and Deals Historic Defeat to Leftists.
- Conservatives Alarmed After Report That Current Maui Police Chief Was Incident Commander During 2017 Las Vegas Massacre.
- What Is Wrong With Joe? New Video Shows Smiling Biden Again Refusing to Comment on Maui Fire While on Delaware Beach Vacation.
The Epoch Times:
- Sen. Tim Scott Targets Chinese Communist Party in Latest Campaign Ad Over Buying Farmland.
- Beijing’s House of Cards Economy Is Crumbling.
Twitter:
- @AntonioTweets2 - What are they hiding? #MauiFire (video)
- @CBKNEWS121 - OBAMA STRANGELY SILENT ON MAUI FIRES. Hawaiian Native Issues Brief Comment Saying Lahaina Fire Was 'Hard To Watch'.
- @pills_truth - This fire thing on Maui doesnt add up. How did all the boats on the water burn as well and there is a perfect circle of fire around the city. (video)
- @Vivi44939724 - Can someone tell me how this is better than fossil fuels?! (video)
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 975,114 Reports(+1,518 from prior week) Through July 28th, 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 industrial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.
- Asian equity indices are -.25% to +.75% on average.
- Asia Ex-Japan Investment Grade CDS Index 111.0 +11.25 basis points.
- China Sovereign CDS 73.0 +8.5 basis points.
- China Iron Ore Spot 100.6 USD/Metric Tonne +.06%.
- Bloomberg Emerging Markets Currency Index 42.4 +.11%.
- Bloomberg Global Risk-On/Risk Off Index 72.0 +.7%.
- Bloomberg US Financial Conditions Index .34 -5.0 basis points.
- Volatility Index(VIX) futures 16.8 -.2%.
- Euro Stoxx 50 futures +.28%.
- S&P 500 futures +.12%.
- NASDAQ 100 futures +.21%.
BOTTOM LINE: Asian indices are mostly higher, boosted by technology and industrial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.
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