Evening Headlines
Bloomberg:
- Biden Says Israel and Hamas Should ‘Pause’ for Hostage Release.
- China’s EV Makers Want Top Oil Producing Nations to Go Electric.
- Foxconn Makes Your iPhone. Now It Wants to Make Your Electric Car.
- China’s Grip on Africa’s Minerals Sparks a US Response.
- These Five Countries Are Key Economic ‘Connectors’ in a Fragmenting World.
- Asia Stocks Rise, Apple Sales Weigh US Futures: Markets Wrap.
- Oil Heads for Second Weekly Drop as Israel War Still Contained.
- Bankman-Fried Found Guilty of Fraud at FTX Criminal Trial.
- Nothing Worries CEOs Right Now as Much as Geopolitics.
- Harvard, Yale Warned by Top Law Firms About Antisemitism.
- Apple Warns of Sluggish Holiday Quarter After China Slowdown.
- The US Housing Market Has Become an Impossible Mess.
- Goldman Sachs Managing Director Class Shrinks 5% From 2021 Level.
- UAW President Is Ready to Take on Tesla and Beat Elon Musk.
- Franklin Templeton, Citadel Securities Curb Bond Optimism.
- Nascar Accused of Bias Against White Men in Its Diversity Efforts.
- Powell Touts Tight Financial Conditions, Causing Them to Loosen.
Zero Hedge:
- Sam Bankman-Fried Found Guilty On All Counts, Faces Over 100 Years In Prison.
- Bridgeport Election Overturned After City Official Pleads 5th To Ballot Harvesting.
- China's Largest Memory Chip Maker Forced To Raise Capital Due To U.S. Blacklists.
- "People With Cervices": IU Med-School Doubles-Down On Gender Ideology.
- RFK Jr Scores 22% Vs Biden, Trump - Is Top Choice Among Independents: Quinnipiac.
- Waste Of The Day: $800,000 To Texas Organization That Distributes Crack Pipes.
- US Mulling 'Day After' Hamas, Including An International Peacekeeping Force In Gaza.
- OPEC Oil Production Remains Relatively Flat In October.
- Albert Edwards: "Will The BOJ Fiasco Be The Straw That Breaks The Back Of US Debt".
- House Passes $14.3 Billion Israel Aid Package, Which Will Promptly Die In The Senate.
- Keep calm and risk on.
- Victor Davis Hanson: One Sick War.
- Democratic 'Sanctuary City' Mayors Beg Biden For Bailout Amid Worsening Migrant Crisis.
- US stocks gained and yields declined as Labour Cost data added to the dovish impulse - Newsquawk Asia-Pac Market Open.
- Israeli Army Has Gaza City Surrounded, But Hamas Tunnels Remain Serious Problem.
- Traders Buy Middle East Crude At Premiums Amid Rising Geopolitical Risk.
- Apple Slides After Revenues Drop For 4th Straight Quarter; Unexpectedly Weak Guidance.
- Hezbollah Escalates Rocket Attacks Amid Reports Russia Could Supply Anti-Air System.
- We're Eating Our Seed Corn.
- Bank Bailout Fund Hits New Record High As Stocks Recouple With Fed Reserves.
- Post-Fed Stock rally continues, aided by dovish US data and BoE on hold - Newsquawk US Market Wrap.
- 'Face-Ripping' Squeeze Sends Stocks Soaring As Yield Curve & The Dollar Dump.
Wall Street Journal:
- How Hamas Won Hearts and Minds on the American Left. For 30 years, the terror organization has made a concerted effort to appeal to Western intellectuals.
- A Warning to the Law Schools on Anti-Semitism. Major law firms tell deans to protect students and resist anti-Semitism.
- Apple Sales Decline as China Market Weighs on Results.
- Democrats Have an Anti-Semitism Problem. The party never expected Jew-hatred to be a feature of its coalition. Now it is.
- National Association of Realtors’ CEO Stepping Down.
- Fake Nudes of Real Students Cause an Uproar at a New Jersey High School.
- Fight Over Return-to-Office Is Becoming a Disability Dispute.
- Adam Neumann Wounded WeWork. An Office-Market Bust Finished It Off.
- FBI Searches Home of Fundraiser for New York City Mayor.
CNBC.com:
- Sam Bankman-Fried found guilty on all seven criminal fraud counts.
- The ‘biggest threat to global order since the 1930s’ is underway and every CEO is talking about it.
- Atlassian sinks despite better-than-expected results and in-line forecast.
- FedEx CEO warned of ‘worldwide recession’ a year ago. Here’s what he sees now.
MarketWatch.com:
- Opinion: Apple’s grim streak of revenue declines could continue into the holidays.
- Apple’s stock falls as earnings show another revenue decline, China pressure.
- Starbucks wants to have 55,000 stores by 2030 — and expects to pay its workers more long before then.
- Ray Dalio likens U.S. restrictions on China tech exports to embargo before Pearl Harbor
- Block’s stock soars as company sets big earnings goal, launches buyback program.
- Fortinet’s stock slides after earnings as guidance misses the mark yet again.
- Cloudflare’s stock drops after earnings as forecast comes up a bit shy.
- Bill.com’s stock tumbles nearly 30% on weaker forecast.
- DraftKings’ stock pops on narrowing loss, raised fiscal year revenue guidance.
Newsmax:
- Israeli Volunteer Testifies Hamas Baked Baby to Death.
- Sen. Cruz: Biden's Call for Israel Pause 'Obscene'.
- Alina Habba: Trump Prosecutions Geared to Block '24 Run.
Fox News:
TheGatewayPundit.com:
- House Approves $14.3 Billion Israel Aid Package, Slashes IRS Budget – Biden Regime Threatens to Veto the Bill.
- Report: Congress Sneaks Through $34,000 Pay Raise for Itself.
- Enormous Development: Colorado Prosecutors Caught in Major Lie in Court Case to Remove President Trump from Ballot – With Video Evidence.
- Minnesota Supreme Court Chief Justice Dresses Down Leftist Lawyer Working to Keep Trump Off 2024 Ballot (VIDEO).
- BREAKING: FBI Raids Home of Eric Adams’ Fundraising Chief, Brianna Suggs.
- Miss Israel Goes Viral After Video Exposing Atrocities by Hamas.
- MTG Lashes Out at 22 RINOs Who Voted to Table the Motion to Censure Antisemite Rashida Tlaib: “American People are So Disgusted with Republicans Who Never Do a Damn Thing to Stop the Injustices”.
- ‘No One is Disputing the Fact the Bidens were Influence Peddling Now’.
- Leftist Takeover of South America: Chilean Conservative Kast Throws in with Globalists.
- U.S. Infant Mortality Rate Sees Largest Increase in 20 Years, Says CDC.
- Elon Musk Says Ventilators, Not COVID-19 Virus, Responsible for Millions of Deaths (VIDEO).
- RFK Jr. Explains Why He Went on Jeffrey Epstein’s Private Jet in 1993.
- Feckless Republicans Voted Against Censuring Pro-Terrorist Rashida Tlaib – Here are the 22 RINOS Who Sided with Democrats.
- Mayors from Sanctuary Cities New York, Los Angeles, Houston, Denver, and Chicago Appeal for $5 Billion Aid from Biden Regime Amidst Invasion.
The Epoch Times:
- Beijing’s Heavy Hand in Hong Kong Has Added to China’s Economic Woes.
- Yellen Assures No US–China Decoupling, Setting Stage for Biden–Xi Meeting.
Twitter:
- @FinanceLancelot - BREAKING: Critical infrastructure operators in the U.S. are stepping up security for "potential onslaught" of Iranian cyberattacks - Politico (video)
- @sentdefender - The Islamic Resistance in Iraq has just announced that next week they will be beginning a New Phase in their Operation to Fight for the People in Palestine and in Confronting the Enemies (Israel and the United States); they state that this Phase will be much more Severe and Widespread against the Bases of the Enemies in the Region.
- @TheNewsSpark - ALERT: The pro-Iranian militias in Iraq announce their entry into the campaign against Israel starting Sunday.
- @EndWokeness - A judge in Connecticut just overturned an election over a video showing 2 people stuffing ballot boxes. Trump was arrested in Georgia for trying to make this happen in 2020 This is a video from Georgia in 2020 after poll watchers were forced out over a mysterious “water pipe burst”. They literally pulled suitcases of ballots from under the table and ran them through the machines for hours unsupervised. (video)
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 988,705 Reports(+1,488 from prior week) Through September 29th, 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 industrial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 75% net long heading into the day.
- Asian equity indices are +.5% to +1.0% on average.
- Asia Ex-Japan Investment Grade CDS Index 127.75 -4.0 basis points.
- China Sovereign CDS 75.5 -1.25 basis points.
- China Iron Ore Spot 122.2 USD/Metric Tonne -.32%.
- Bloomberg Emerging Markets Currency Index 41.5 -.06%.
- Bloomberg Global Risk-On/Risk Off Index 65.7 unch.
- Bloomberg US Financial Conditions Index .00 +4.0 basis points.
- Volatility Index(VIX) futures 17.5 +.6%.
- Euro Stoxx 50 futures +.36%.
- S&P 500 futures -.13%.
- NASDAQ 100 futures -.31%.
BOTTOM LINE: Asian indices are modestly higher, boosted by technology and industrial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 75% net long heading into the day.
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