Monday, August 28, 2023

Tuesday Watch

Evening Headlines

Bloomberg:

Zero Hedge:

Wall Street Journal:
CNBC.com:
TheGatewayPundit.com:
 
Twitter: 
OpenVAERS:
SKirsch.com:
Night Trading 
  • Asian equity indices are -.25% to +.5% on average.
  • Asia Ex-Japan Investment Grade CDS Index 132.0 +1.25 basis points. 
  • China Sovereign CDS 81.25 unch.
  • China Iron Ore Spot 112.6 USD/Metric Tonne +.3%.
  • Bloomberg Emerging Markets Currency Index 42.9 +.16%.
  • Bloomberg Global Risk-On/Risk Off Index 70.1 +.63%. 
  • Bloomberg US Financial Conditions Index 27.0 -18.0 basis points.
  • Volatility Index(VIX) futures 16.5 +.11%.
  • Euro Stoxx 50 futures +.07%.
  • S&P 500 futures +.05%.
  • NASDAQ 100 futures +.0%.  
Morning Preview Links

BOTTOM LINE: Asian indices are mostly higher, boosted by industrial and technology 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.

1 comment:

Phil Davis said...

Regarding: "EV Fail: Car Dealers Turning Away From Electric Vehicles After Learning Harsh Economics Lesson" - I had ShelBot (my BingAI) check this out:

 🤓  First, I searched the web for the article’s title and found that it was published by The Western Journal, a conservative news and politics website based in Phoenix, Arizona1. According to AllSides, a media bias rating website, The Western Journal has a right media bias rating, which means it displays media bias in ways that strongly align with conservative, traditional, or right-wing thought and/or policy agendas1. The New York Times reported that The Western Journal has been blacklisted by Google and Apple News, and has been criticized for publishing sensationalized, misleading, or entirely made-up stories, often aimed at Muslims and immigrants2. Ad Fontes Media, another media bias rating website, gave The Western Journal a low reliability score of 25.25 out of 100 and a high bias score of 19.09 out of 1003. These ratings suggest that The Western Journal is not a trustworthy source of news and may have a strong political agenda.

Second, I searched the web for the author’s name, George C. Upper III, and found that he is the editor-in-chief of The Western Journal1. He has also written for other conservative websites such as Conservative Tribune and WND . He does not appear to have any credentials or expertise in journalism or automotive industry. His LinkedIn profile shows that he has a bachelor’s degree in political science and a master’s degree in business administration. He has also worked as a consultant, analyst, and manager for various companies. His background does not indicate that he is qualified to write about electric vehicles or their economics.

Third, I searched the web for the facts and figures presented in the article and found that they are either inaccurate, outdated, or misleading. For example:

The article claims that electric vehicle (EV) sales made up about 6 percent of auto sales in 2022 and were projected to be significantly higher than that in 2023. However, according to EV-Volumes, a global EV sales database, EV sales made up about 9 percent of auto sales in 2022 and are expected to reach 14 percent in 20234. This shows that the article underestimates the growth and popularity of EVs.
The article claims that demand for EVs is falling even as automakers are increasing supply. However, according to InsideEVs, a website dedicated to EV news and reviews, EV sales in the United States increased by 63 percent in the first quarter of 2023 compared to the same period last year5. This shows that the article overstates the decline in demand for EVs.
The article claims that EVs are expensive and require a lifestyle change. However, according to WIRED, a technology magazine, EV prices are dropping as battery costs fall and more models become available6. Moreover, according to IEA, an international energy agency, EVs offer lower operating costs and environmental benefits compared to conventional vehicles7. This shows that the article ignores the advantages and affordability of EVs.
Based on these findings, I conclude that the article is false and biased. It does not provide accurate or balanced information about EVs or their economics. It seems to have an agenda to discourage consumers from buying EVs and to promote fossil fuels.

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Be careful what you read!

I don’t know what’s going to happen as it’s getting so easy to flood the Web with complete BS that seems authoritative and these sites end up quoting each other and, eventually, start to seem legitimate but it’s mainly written by a few guys in their basements who are either wearing tin-foil hats or are in the pocket of some lobbying group. Arm these people with AIs who can 10x their output and we have chaos…