Evening Headlines
Bloomberg:
- Moody’s Cuts Outlook for Chinese Banks, Hong Kong, LGFVs.
- EM Asia Bonds’ High Valuations May Start to Worry Investors.
- Asia Hedge Funds Avert China Turmoil With Bets on Japan, AI.
- Australia’s Trade Surplus Widens on Improved Iron-Ore Exports.
- Australia Signs Pacific Pact in Battle for Influence With China.
- EU Nears Deal to Regulate ChatGPT, Other AI Tech in Landmark Act.
- Shares in Asia Fall as Oil Touches Six-Month Low: Markets Wrap.
- Elon Musk's SpaceX Valued at $175 Billion or More in Tender Offer.
- SpaceX Weighs Spinning Off Starlink Via IPO as Soon as 2024.
- Biden Moves to Forgive Nearly $5 Billion in Student Loans.
- Carson Block Shorts Blackstone Publicly Traded Mortgage REIT.
- Pfizer CEO Calls Harvard, MIT, Penn Antisemitism Comments ‘Despicable’.
- C3.ai Says Revenue Dented by New ‘AI Governance’ Department Reviews.
- Live: Dimon, Warren Find Rare Common Ground in Crypto-Bashing.
- US Firms Slow Hiring With Manufacturers Cutting Jobs, ADP Says.
- Ramaco CEO Says Wyoming Coal Mine Discoveries Include Gallium, Germanium.
Zero Hedge:
- Senate Republicans Block Biden Ukraine Aid Despite Warning Over 'Direct Conflict With Russia'.
- Janet Yellen Joins Zelensky In Saying US Would Be "Responsible For Ukraine's Defeat".
- Citi Sees Senate Flipping, Ponders 'Red Wave' In 2024.
- Americans 'Should Be Worried' About Potential Chinese Invasion Of Taiwan: Joint Chiefs Of Staff Chairman.
- Biden Tells Israel To Wrap Up War By January As An Estimated 80% Of Gazans Displaced.
- Gun Business Challenges Arizona City's Refusal To Renew Advertising Contract.
- Tiger Woods Past The Peak? Reports Say Longtime Nike Partnership May End.
- Moms For America Endorses 'Proven Leader' Trump For 2024 Presidency.
- "Let Me Be Clear": Harvard Backpedals After Donors Slam 'Insane' Protections For Pro-Genocide Students.
- House Passes Resolution Stating 'Anti-Zionism Is Antisemitism'.
- Putin Trots Around Middle East, All Smiles With MbS, While US Can't Secure Ukraine Funding.
- Texas, The Daily Wire, & The Federalist Sue US State Dept For Conspiring With Newsguard To Censor American Media Companies.
- COP28: The Globalist Agenda Has Never Been More Obvious.
- Lebanese Soldier Dies, Army Post Comes Under Israeli Shelling, For 1st Time In The Conflict.
- US stocks trickled lower after further soft data releases - Newsquawk Asia-Pac Market Open.
- Climate Scientist Says It's 'Unreasonable' To Call Climate Change An Existential Threat.
- "They're Saying The Quiet Part Out Loud": Tucker And Massie Slam Additional Ukraine Funds For 'War They Cannot Win'.
- Stocks fall and Dollar gains as eyes turn to NFP after soft ADP - Newsquawk US Market Wrap.
- Exuberant breadth and magnificent selling.
- Riley Gaines Wrecks "Misogynist" 'Squad' Member After Being Called 'Hateful, Transphobic'.
- 'Growth Scare' Spooks Big-Tech & Black Gold As Bond Yields Plunge.
- "Here Comes The Cliff!": Carson Block Shorts Blackstone Mortgage REIT As 'Liquidity Crisis' Risks Mount.
- VP Biden Linking Ukraine Loan To Prosecutor's Firing Surprised State Department Officials, Emails Show.
Wall Street Journal:
- 23andMe Hack Is a Wake-Up Call for Your Password Habits.
- DEI Drives Campus Antisemitism. Gerrymandering Jews into an ‘oppressed’ class won’t save universities from a malevolent ideology.
- Israel Says It Killed Half of Hamas’s Midlevel Commanders.
- Is That Food Ultra-Processed? How to Tell.
- McKinsey Shrinks New Partner Class by Roughly 35%.
- Facebook and Instagram Steer Predators to Children, New Mexico Lawsuit Alleges.
- Meta to Start Fully Encrypting Messages on Facebook and Instagram.
- U.S. Gas Startup at Center of Epic Feud With Global Energy Giants.
CNBC.com:
- Governments are spying on Apple, Google users through phone notifications, U.S. senator says.
- China’s big property market problem will take at least 4 to 6 years to resolve.
- Haley’s Wall Street donor surge draws fire ahead of GOP debate.
- Wall Street tries to convince senators that new capital rules will hurt Americans as well as banks.
- U.S. crude oil falls below $70 a barrel, closing at the lowest level since June.
MarketWatch.com:
Fox News:
- Anti-woke beer company takes aim at women's sports in special project.
- Some Democrats join Republicans to deliver big blow to Biden's EV mandate.
- House Judiciary investigating whether DA 'coordinated' with Jan. 6 committee.
- At least 3 people killed in shooting on UNLV campus, suspect dead.
- Another boat filled with migrants invades beach near ritzy homes of Hollywood stars.
TheGatewayPundit.com:
- World Health Organization Calls for Huge Global Tax Increases on Alcohol, Soda.
- Dems’ Censorship Demand Now ‘Insatiable,’ Constitutional Expert Warns.
- CNN’s Jake Tapper Surprised by Biden’s ‘Stunning Admission’ About His 2024 Campaign.
- Leo Hohmann: IMF Boss Says Governments Need to Impose Global Carbon Tax on Citizens to Punish Them for Using Energy.
- GOP Lawmakers Threaten Hunter Biden: Appear at Closed Deposition on December 13th or Face Legal Action.
- Biden Border Crisis: More Than 12,000 Illegal Aliens Flood Open Southern Border in Last 24 Hours – Highest Single Day Total Ever Recorded.
- Shocking Video: Here Are the 16 Innocent Israelis Hamas Massacred on the Beach in Southern Israel on Oct. 7.
- The Border Crisis: Coming to a Neighborhood Near You.
- Civil Rights Lawyers Warn Woke Illinois Schools’ Racially Segregated AP Classes are ‘Unconstitutional’.
- Muckraker Report: Secret Chinese Staging Hotel Exposed in Colombia with Military-Aged Men Heading to Open US Border (VIDEO).
- Arizona Sheriff Mark Lamb: Every Illegal Alien Crossing Border Received $5,000 Gift Card (VIDEO).
- Zelensky Blows Off Congress as Republicans Walk Out of Ukraine Funding Meet: “There Has to be Border Security First”.
- Sen. DICK Durbin Suffers Memory Loss After Claiming Epstein Flight Logs Inquiry Has “Never Been Raised by Anyone” Despite Requests from Senator Blackburn (VIDEO).
The Epoch Times:
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 988,705 Reports(+5,406 from prior week) Through October 27th, 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 lower, weighed down by industrial and technology shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
- Asian equity indices are -1.25% to -.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 100.25 unch.
- China Sovereign CDS 62.75 unch.
- China Iron Ore Spot 131.8 USD/Metric Tonne +.11%.
- Bloomberg Emerging Markets Currency Index 41.6 -.06%.
- Bloomberg Global Risk-On/Risk Off Index 57.6 +.3%.
- Bloomberg US Financial Conditions Index .51 +1.0 basis point.
- Volatility Index(VIX) futures 15.6 +.02%.
- Euro Stoxx 50 futures -.49%.
- S&P 500 futures -.06%.
- NASDAQ 100 futures -.02%.
BOTTOM LINE: Asian indices are modestly lower, weighed down by industrial and technology shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
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