Evening Headlines
Bloomberg:
- China’s Property Market Crisis Is Trouble for the Whole World.
- US Believes China Defense Minister Faces Inquiry, FT Reports.
- Xi’s Corruption Crackdown Rocks $1 Trillion Health Care Industry.
- China May Get Caught in an Oil-Price Crossfire.
- Kim Jong Un to Tour Russian Jet Plant as US Warns on Arms Deals.
- Asia Stocks to Track US Rally as Soft Landing Seen: Markets Wrap.
- Oil Heads for Third Weekly Advance With Tighter Markets in View.
- Chip Designer Arm Jumps 25% in Debut Win for Owner SoftBank.
- Arm IPO Lures in Retail Traders Seeking Exposure to AI Trend.
- Disney to Cut Target for Disney+ Streaming Subscribers.
- Fed Is Likely to Shy Away From Calling Interest-Rate Peak Next Week.
- UAW Prepares Targeted Strike to Maximize Automakers’ Pain.
- T-Mobile in Talks to Make Big Broadband Bet With Move Into Fiber.
- Texas Moved to Protect its Fragile Grid. Then Prices Skyrocketed.
- How Sam Bankman-Fried’s Elite Parents Enabled His Crypto Empire.
Zero Hedge:
- Hunter Biden Indicted On Federal Firearms Charge.
- $3.4 Trillion: Tomorrow's Triple-Witch Is The Biggest September Op-Ex On Record.
- New Bill Combats Tyrannical Democrats From Declaring Nationwide Public Health Emergency To Enforce Gun Control.
- Baltimore City Official Blames Cars, Not Crime, For Population Collapse.
- Truckload Carriers See Market Moving Toward Equilibrium.
- "This Seems Flawed" - 0-DTE Options ETF Launch Sparks Debate.
- Why Is Rhode Island Still Irrationally Targeting School Children With "Masking And Testing" Policies?
- Mr. Zelensky Goes To Washington, Again.
- Threads Blocks Search Results For 'COVID' And 'Vaccines', Upsetting Users.
- US stocks gained after firm data, dovish ECB rate hike and PBoC RRR cut - Newsquawk Asia-Pac Market Open.
- The E In EPA Certainly Isn't For 'Ethics'.
- Fear in freefall.
- The Walls Are Closing In On Joe Biden.
- Japanese Panic Buy Gold As Yen Implodes And Inflation Soars.
- Money-Market Inflows Hit New High As Banks Demand More From Fed's Emergency Fund.
- Stocks rally after ECB signals no more hikes and hot US data - Newsquawk US Market Wrap.
- The Middle Class Is Increasingly Becoming "The Impoverished Class", And The Poor Are Increasingly Being Pushed Into The Streets.
- Bears disARM'd: Stocks, Yields, Crypto, & Crude Jump As Inflation Expectations Soar.
Wall Street Journal:
- America’s Battle With Shoplifting Is Getting Dangerous for Workers.
- J.B. Hunt Transport Will Acquire BNSF Brokerage Business.
- UAW Poised for Unusual Strike—Multiple Companies and Specific Plants.
- Wisconsin Lawmakers Fire Top State Election Official.
- The Cyberattack That Sent Las Vegas Back in Time.
- Fuel Prices Are Soaring: Who Is Feeling the Pinch?
- Arm debut will help jump-start IPOs, Airbnb investor Rick Heitzmann suggests.
- Arm is trading at a premium to Nvidia after IPO pop even though it’s a ‘no-growth company’.
- More companies, especially airlines, warn higher costs will eat into profits.
- Everything you need to know about UAW’s targeted strike plans — and possible lockouts.
- JPMorgan Chase to offer online payroll services as it steps up fight with Square, PayPal.
MarketWatch.com:
- Tesla may be the winner of Big Three-UAW labor talks.
- Opinion: Stocks are trapped in a trading range. Something’s got to give.
- Adobe hopes to acquire new users, firm up margins as it lets Firefly AI out of its jar.
- Here’s everything we know about zero-day options, the risky stock-market ‘lottery tickets’ captivating Wall Street and Reddit.
Newsmax:
Fox News:
TheGatewayPundit.com:
- WATCH: Nancy Pelosi Hedges on Joe Biden Continuing Re-Election Bid – Smiles While Undermining Kamala Harris.
- Explosion of Train Car Carrying Perchloric Acid Triggers Four-Mile Evacuation Zone in Nebraska, Sky Filled with Toxic Smoke (VIDEO).
- Top Doctor Explains Why “Turbo Cancer” Rates Are Likely to Get Even Worse (VIDEO).
- WOW! Joe Biden Says Black and Hispanic Workers Don’t Have High School Diplomas (VIDEO).
- “Gloves Are Off, Families Are On” – David Brock Threatens to Target the Children of GOP Members Investigating Hunter Biden.
- “File The F*cking Motion”: Kevin McCarthy Melts Down and Throws a Fit Amid Threats from GOP Members to Remove Him as House Speaker.
- FDA Approves “Emergency Use” Of Experimental Vaccines – Is It Time To Stockpile Critical Medications Before The Government Restricts Them Again?
- Eco-Terrorists Shut Down Entrance to Citigroup’s Headquarters In NYC; Female Employee Met with Physical Force and Intimidation (VIDEO).
- Brutal Marijuana Studies Now Emerging – It Should Never Have Been Fully Legalized.
- IT’S BACK! Providence Hospital System Imposes Draconian Mandatory COVID Vaccine for Healthcare Workers – Non-Compliance Results in Unpaid Leave and Potential Termination.
- Max Blumenthal: SecState Tony Blinken Stands to “Make a Lot of Money” Off Ukraine war.
- Torture and Abuse: DC Officials Place Jan. 6 Prisoners in DC Gulag Back on COVID Lockdown, Solitary Confinement Starting Today!
The Epoch Times:
Twitter:
- @KobeissiLetter - JUST IN: US National Debt is now up a massive $1.5 trillion since the debt ceiling “crisis.” Over the last 3 months alone, the US has added $500 billion PER MONTH to the national debt, on average. Over the last 5 years, US debt is up a whopping 54%. Meanwhile, YTD interest expense just passed $800 BILLION. These numbers are so large it’s hard to believe. This is a crisis.
- @alifarhat79 - Elizabeth Warren’s salary is $193,000 a year. She has served 10 years in Congress. Her net worth is $73,000,000.
- @Breaking911 - TRUMP ON HUNTER BIDEN INDICTMENT: "This, the gun charge, is the only crime that Hunter Biden committed that does not implicate Crooked Joe Biden. [...] They have opened the proverbial Pandora’s Box, and it is possible that the USA will never be the same again..."
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 983,973 Reports(+1,886 from prior week) Through August 25th, 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 modestly 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 75% net long heading into the day.
- Asian equity indices are +.25% to +1.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 115.25 -.75 basis point.
- China Sovereign CDS 69.5 -.25 basis point.
- China Iron Ore Spot 121.5 USD/Metric Tonne +.8%.
- Bloomberg Emerging Markets Currency Index 42.2 -.07%.
- Bloomberg Global Risk-On/Risk Off Index 74.2 +2.1%.
- Bloomberg US Financial Conditions Index 54.0 -2.0 basis points.
- Volatility Index(VIX) futures 15.2 -.18%.
- Euro Stoxx 50 futures +.42%.
- S&P 500 futures +.08%.
- NASDAQ 100 futures +.06%.
BOTTOM LINE: Asian indices are modestly 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 75% net long heading into the day.
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