Evening Headlines
Bloomberg:
- China Is Selling So Much to Russia That Containers Are Piling Up.
- China Economy Improved Further in September, Satellite Data Show.
- UK Homes in Debt on Energy Bills Surges 36% This Year, EDF Says.
- Huawei Takes Revenge as China Catches Up on Semiconductors.
- Asia Stocks Poised for Worst Quarter in a Year: Markets Wrap.
- Oil Steady After Blistering Rally Ran Into Technical Resistance.
- Microsoft Discussed Selling Bing to Apple as Google Replacement.
- Henry Kravis, Endeavor, Fenway Eye PGA Tour Deal to Rival Saudi Arabia’s.
- UAW Targets At Least 30% Pay Raise, Lower Than Initial Demand.
- The Threat of an American Debt Crisis.
- Inside JPMorgan’s Year of Being Haunted by Jeffrey Epstein.
- Character.AI in Early Talks for Funding at More Than $5 Billion Valuation.
- Uber, DoorDash, Grubhub Must Pay $18 an Hour to NYC Couriers.
- Long-Bond Yields Poised for Biggest Quarterly Jump Since 2009.
Zero Hedge:
- You Will Never Guess What Happened To "The Strong US Consumer" After Today's Huge GDP Revisions.
- "The American People Know The Fix Is In" - O'Reilly Warns Carlson "We Are In The Age Of Disorder Now".
- Major Cold Trend Set To Unleash 'Frost-Freeze' Threat Across Eastern US.
- Slouching Towards 1984.
- Murder Crisis Plagues DC As Mayor Begs For More Officers After 'Defunding Police'.
- NIH Doctor Flagged Wuhan Virus Lab Safety Problems As Early As 2017.
- Who Owns The Most Satellites?
- Jim Grant: Fed Policy Is A Ph.D. Standard Of Improvisation.
- Our Society Is Melting Down Even Faster Than Most People Thought That It Would.
- A Third Of All Workers Say They'd Quit Or Find A New Job If They Were Asked To Return To The Office.
- Fauci And The CIA: A New Explanation Emerges.
- US stocks gained as yields and oil prices eased back from recent peaks - Newsquawk Asia-Pac Market Open.
- Watch: Biden Tells People To Stop Questioning COVID Shots.
- Banks' Demands For Fed's Emergency Funds Remains Near Record Highs As Retail Money-Market Fund Inflows Continue.
- Stocks advance as Treasuries hit highs in choppy month-end trade - Newsquawk US Market Wrap.
- Victor Davis Hanson: The Ukrainian Gordian Knot.
- Bear barrage.
- Massive Short-Squeeze Lifts Stocks; Bitcoin Jumps As Bullion & Black Gold Dumped.
- Watch Live: Biden Impeachment Inquiry Kicks Off.
- Thousands of Migrants Are Being Dropped Off on San Diego Streets.
- Border Security in Spotlight as Congress Seeks to Avert Shutdown
- How a Tiny Crew Struck a Blow Against China With a Wooden Boat and a Knife
- The Retail Theft Rampage Gets Worse. Target closes nine stores in four states because of crime, as looters run riot in Philadelphia.
- Oil Is Near $100. Shale Isn’t Coming to the Rescue.
CNBC.com:
- Automakers grow frustrated over pace of UAW negotiations as new deadline looms.
- AMD’s stock pops after Microsoft tech chief touts chipmaker’s AI products.
- Delivering Alpha recap: Bill Ackman on bonds and the biggest market calls from CNBC investor summit.
- Nike misses on revenue for first time in two years, but stock pops as earnings, margins beat.
- GameStop’s survival demands ‘extreme frugality,’ CEO Ryan Cohen tells employees.
- Brad Gerstner says AI will be bigger than the internet, bigger than mobile.
MarketWatch.com:
- The S&P 500 is brushing up against ‘the mother of all trend lines.’ What happens next could make or break the market.
- Nvidia identified as target of French antitrust raid: WSJ.
- 4 reasons oil prices are surging toward $100 a barrel.
- Betting markets now see a Trump 2024 win as likelier than a Biden victory — and give Newsom better chances than Trump’s GOP rivals.
- Rep. Gooden: Hypocrisy Rampant Among Dems.
- Comer Subpoenaing Bank Info of Hunter, James Biden for Impeach Probe.
- Rep. Steube: DOJ 'Stonewalled' Biden Investigations.
- Neil Cavuto Shills For Biden, Trashes Republican Impeachment Hearing, Says Witnesses Did Not Provide Any Proof For Impeachment (VIDEO).
- BREAKING—GAME CHANGER! 11 HERO Lawmakers Sue MI SOS Jocelyn Benson and MI Director of Elections In Federal Court For Violating US and MI Constitution To Change Election Laws.
- Elon Musk Livestreams Biden Border Crisis in Eagle Pass, Texas (VIDEO).
- Outrageous! Georgia GOP Caucus Ousts Brave State Senator for Trying to Impeach Corrupt Fulton County DA Fani Willis.
- VIDEO: Trans Male Student Brutally Beats Defenseless Girl at Woke Oregon Middle School, Leaving Her in Tears While Fellow Students Film Incident.
- West Point Goes Full Woke, Pushes ‘Diversity & Inclusion Studies’.
- California Gov. Newsom Raises Minimum Wage for Fast Food Workers to $20 Per Hour.
- NaziGate: Canadian Prime Minister Trudeau Finally Apologizes – To Zelensky! It’s Time to Address the Contemporary Ukrainian Nazis From Azov Regiment.
- Missouri Atty Gen. Sues Woke School Board outside St. Louis for Violating Open Meetings Laws when Making Transgender Policies.
- Conservative MP Calls on the UK’s Only Right Wing TV Broadcaster to be Shut Down.
- Democrat El Paso Mayor Starts Bussing Migrants to New York, Chicago, and Denver.
- Former Congressman, Campaign Expert: Democrats Positioning to Replace Biden with Michelle Obama, Further Weaponize DOJ.
The Epoch Times:
- Faltering Chinese Economy Calls for Desperate Measures in Beijing.
- Chinese Hackers Stole 60,000 Emails From State Department Officials.
- While China and Russia Test Nukes, Biden Wants to Ban US Testing.
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 985,418 Reports(+1,625 from prior week) Through September 8th, 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 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 128.5 +.25 basis point.
- China Sovereign CDS 82.0 -.5 basis point.
- China Iron Ore Spot 119.2 USD/Metric Tonne +.97%.
- Bloomberg Emerging Markets Currency Index 41.7 -.04%.
- Bloomberg Global Risk-On/Risk Off Index 74.6 +1.7%.
- Bloomberg US Financial Conditions Index 5.0 -2.0 basis points.
- Volatility Index(VIX) futures 17.4 +.3%.
- Euro Stoxx 50 futures -.19%.
- S&P 500 futures -.14%.
- NASDAQ 100 futures -.13%.
BOTTOM LINE: Asian indices are modestly higher, boosted by technology 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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