Evening Headlines
Bloomberg:
- Country Garden Leaves Investors in Dark on Exact Default Deadline.
- Lithium Craze Sparks 1,100% Stock Gains as Well as Deep Losses.
- Global Banks’ Currency Desks Take 15% Hit on Volatility Slump.
- Asian Equity Futures Decline as Risk Tone Falters: Markets Wrap.
- More Than One-Third of Desks Globally Sit Empty All Week Long.
- Goldman Dials Up Pressure to Enforce Five Days a Week in Office.
- Nike Suffers Record Rout on China Concern, Inventory Woes.
- Dan Och Slams Sculptor Proxy With Demand for Merger Books, Records.
- Spoofing Is a Silly Name for Serious Market Rigging.
- Luxury Builder Toll Brothers Beats Estimates for Home Orders.
- Traders Dial Back Expected Fed Rate Cuts as Recession Risks Ease.
- FDIC to Propose New Regulations for Midsize Lenders Next Week.
Zero Hedge:
- 'Children Were Incinerated To Ash': Livid Hawaiians Slam Biden For Cracking Jokes, Lying About Wife.
- It's Really Happening: Mask Mandates, Contact-Tracing Re-Implemented At Colleges, Offices.
- A Letter To Our Betters.
- A Sober Look At Four Indictments.
- Bud Light Backlash "Shows Little Signs Of Abating", Citi Warns.
- How Much Of Today's 'Racism' Is Manufactured?
- China Retaliates Over Fukushima Water Dump: Blocks Seafood Imports As Nobody "Wants To Eat Radioactive Salmon".
- Garland's Theater Of The Absurd: Why The Hunter Biden Scandal Is No Longer A Laughing Matter.
- Who Turns Downs Millions? People Who Believe We Are Heading For "F**k It" Phase.
- "This Is About Credit Card Balances, This Is About Student Loans": Macy's Crashes As Consumer Situation Deteriorates.
- S&P Joins Downgrade Party Of US Banks Due To "Tough" Climate.
- 14 US Cities Initiate New Globalist Climate Plan In Partnership With Soros & The Clintons.
- US stocks were mostly lower and bonds were mixed as markets await key events - Newsquawk Asia-Pac Market Open.
- 'Bread And Water': Bankman-Fried Denied Vegan Meals, Adderall -- And Is Running Out Of Anti-Depressant.
- Andy Ngo Awarded $300,000 In Antifa Attack Lawsuit.
- The 'Ukraine Failure' Script Is Already Being Written & Only One Man Will Be Blamed.
- Chicago Official Suggests "Purge" Style Ordinance For Gun Violence Prevention.
- WTI Extends Losses After API Reports Smaller Than Expected Crude Draw.
- Can tech dismiss rising rates?
- Rickards: The 'Earthquake' Starts Today.
- Dollar bid, bonds mixed as participants await PMIs and Powell - Newsquawk US Market Wrap.
- BJ's Blows It & Dick's Shrink: Consumer Concerns Spook Stocks, Flattens Yield-Curve.
Wall Street Journal:
- The Electric-Vehicle Bubble Starts to Deflate. Biden is imitating China just as its industrial policy starts to crack.
- Goodbye Bathtub and Living Room. America’s Homes Are Shrinking.
- Dick’s Sporting Goods, Macy’s Flash Warnings Over Consumers.
- Activist Behind Affirmative-Action Cases Sues Law Firms.
- The Biggest Player in Crypto Is Facing a Risk Over Russia.
- Hunter Biden’s Foreign Dealings Spell More Trouble Ahead.
- U.S. to Sanction Chinese Officials for Forcible Assimilation of Tibetans.
- The Bidding War for Workers Is Over.
- America’s Disappearing Nursing Homes, in Charts.
- OSHA Investigates Chemical Spill at GM’s Ultium Battery Plant.
CNBC.com:
- Dick’s shares fall 24% as retailer slashes outlook over theft concerns.
- Amazon is seeing some employees quit instead of moving to a new state as part of relocation mandate.
- Hawaii wildfires caused up to $6 billion in economic losses, Moody’s estimates.
- The 15 U.S. cities with the highest cost of living—San Francisco isn’t No. 1.
- AMC shares crater as investors brace for stock conversion.
MarketWatch:
- Dick’s Sporting Goods CEO highlights impact of organized retail crime: ‘It’s quite alarming what’s going on’.
- All S&P 500 sectors are down in August, on pace for a broad monthly drop not seen this year
- CDs at 6%? How high could they go?
- Icahn investment arm’s stock slides anew and is close to its 52-week low
- UPS workers vote to approve ‘historic’ five-year contract
Fox News:
TheGatewayPundit.com:
- THE GREAT RESET: Report Reveals Globalist Climate Organization’s Goal to Ban Meat, Dairy, and Private Vehicles In 14 US Cities by 2030
- Angry Maui Fire Survivors Let Loose With Middle Fingers and F-Bombs at Joe Biden as Motorcade Passes (Video).
- FOX News Throws Tantrums – Bans Trump’s Surrogates from GOP Debate Spin Room Following Trump’s Decision to Skip Debate.
- Sam Bankman-Fried Whines He Isn’t Getting His Adderall and Vegan Meals in Prison.
- St. Louis Mayor Announces Plans to Outlaw AR-15s, AK-47s and Military-Style Weapons – Hopes Criminals Will Comply.
- Former University of Houston Basketball Player Reggie Chaney Dead at 23 – Cause Unknown.
- COMMUNISM THREATENS AMERICA: Brazilian President Lula da Silva Pushes to Weaken the Dollar and Create Single Currency with China and BRICS Countries.
- BRICS Summit, Day One: Xi Hypes the ‘Global South’, Putin Sees ‘Alternative to G7’, Modi Touts Indian Economy, Lula Calls for Common Currency, Ramaphosa Stresses Ties Between Members.
- Did Joe Biden Nod Off or Check His Watch During Maui Wildfire Memorial Service? (VIDEO).
- HORROR: Low-Life Thugs Beat and then Violently Drag Defenseless Woman On the Ground During Armed Robbery in Oakland – Business Owner Compares Crime Wave in Leftist City to Vietnam War (VIDEO).
- Joe Biden Spits on Constitution Again and Announces New Student Loan Bailout Scheme – Will Cost Taxpayers Hundreds of Billions of Dollars (VIDEO).
- Trump Attorney John Eastman Booked at Fulton County Jail For Challenging 2020 Democrat Election Fraud.
- Surprise! Look Who’s on Anti-Woke Warpath to Reclaim ‘Redskins’ Name.
- Here We Go: Lionsgate Studio Reinstates Employee Mask Mandate Despite Very Low COVID Cases.
- BREAKING: Insider Says Lockdowns & Masks RETURNING This FALL?!! | Elijah Schaffer’s Top Picks (VIDEO).
The Epoch Times:
Twitter:
- @nicksortor - MAUI POLICE HEADLOCK ME FOR ASKING THE MAYOR ABOUT MISSING CHILDREN. MAYOR BISSEN KNOWS THE ANSWER, BUT HE’S HIDING IT. The mainstream media have been REFUSING to press the Mayor on this, so residents and I started pressing him HARD for the past SEVERAL DAYS. (video)
- @Truthpole - It has been nearly two weeks and still no confirmation about the missing people and CHILDREN in Maui. (video)
- @HumanDilemma_ - Maui Fire - Biden to Maui: I lost my house too. (video) Maui Fire - What it's actually like on the ground in West Maui. (video)
- @ggreenwald - Always worth recalling that much of what is now being covered as the Hunter **and Joe** Biden scandals was known before the 2020 election. But media outlets endorsed the obvious CIA lie that the docs were "Russian disinformation" and got Big Tech to censor it based on that lie.
- @The_Real_Fly - MACY’S, CALIFORNIA. (video)
- @CitizenFreePres - Oliver Anthony just dropped a new song. "Brink of War." (video)
- @charliekirk11 - Masks are now being sold at check out at Whole Foods in Arizona. Hollywood now demanding masks. Rutgers now demanding masks. Federal government buying COVID "supplies". It's coming.
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 977,541 Reports(+2,427 from prior week) Through August 4th, 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 industrial and consumer 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 unch. to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 131.5 -4.25 basis points.
- China Sovereign CDS 81.25 -2.75 basis points.
- China Iron Ore Spot 110.9 USD/Metric Tonne +.15%.
- Bloomberg Emerging Markets Currency Index 42.4 -.01%.
- Bloomberg Global Risk-On/Risk Off Index 70.7 +1.3%.
- Bloomberg US Financial Conditions Index 12.0 -1.0 basis point.
- Volatility Index(VIX) futures 17.8 -.56%.
- Euro Stoxx 50 futures +.02%.
- S&P 500 futures +.16%.
- NASDAQ 100 futures +.22%.
BOTTOM LINE: Asian indices are mostly higher, boosted by industrial and consumer 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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