Friday Watch

Evening Headlines

Bloomberg:

• Traders Stunned by Election Surprises From Mexico to India.
• Euro Jumps as Traders Pare Wagers on Further ECB Rate Cuts.
• Mexican Peso Tumbles as Ruling Party Vows to Pass Reforms.
• Aramco Sale Set to Raise at Least $11.2 Billion for Saudi Arabia.
• Asian Stocks Rise as Traders Await US Payrolls. 
• Oil Set for Weekly Loss After OPEC+ Supply Plan Rattles Market.
• Real Estate Investors Are Wiped Out in Bets Fueled by Wall Street Loans.
• Moody’s May Cut Six US Banks on Commercial Real Estate Exposure.
• Banks Tap Complex Mortgage Product to Fight Deposit Flight Risk.
• JPMorgan, Citi Cling to July Fed Rate-Cut Bets Ahead of Jobs Data.

Zerohedge:  

• Wall Street Admits The Biggest Economic Shocker: All Jobs In The Past Year Have Gone To Illegal Aliens.
• Markets Have Overreacted To OPEC's Plan To Phase Out Production Cuts.
• Modi's BJP Loses Parliament Majority.
• A Second-Quarter Recession This Year Looks Increasingly Likely.
• Overwhelming Majority Of Small Business Owners Afraid Of Biden's Economy; New Poll Finds.
• Ukraine Bans Dual Citizens From Escaping War, US Embassy Warns.
• 334 Michiganders Registered To Vote After Their Deaths, Group Tells Court.
• La Nina Will Complicate Things For Biden Ahead Of Elections As Hurricanes Threaten Oil Refineries.
• School To Use Remote Tracking Wristbands On Children.
• ECB cuts rates and traders now gear up for Friday's NFP - Newsquawk Asia-Pac Market Open.
• "It's Mind-Boggling": Los Angeles Hit With Surge Of Fire Hydrant Thefts.
• Stocks and Bonds chop to ECB and US data ahead of NFP - Newsquawk US Market Wrap.
• Market Pancakes As Nvidia Gamma Squeeze Fizzles, Attention Turns To Jobs, Global Easing Cycle.
• Into Tomorrow's Jobs Report, Dealer Gamma Is The Longest On Record.

Wall Street Journal: 

• How Apple Fell Behind in the AI Arms Race.
• Is This America’s First $100 Million-a-Year Athlete?
• ECB Cuts Interest Rates for First Time Since 2019.
• Rubio’s Coastal Grill: a ‘Business Climate’ Casualty in California. Workers and consumers pay the price for the state’s rising wage mandates.
• Gill’s GameStop Trades Pose Conundrum for Market Cops.

CNBC.com:

• Here’s what to expect from Friday’s big jobs report.
• GameStop shares jump more than 40% as ‘Roaring Kitty’ schedules YouTube livestream for Friday.
• Trump heads to tech fundraiser in San Francisco, with some guests paying $300,000.
• Milwaukee-based retail giant Kohl’s says ‘No’ to sponsoring Republican convention events.
• Healthcare software firm Waystar raises $968 million in IPO.
• Stocks making the biggest moves after hours: Vail Resorts, DocuSign, Samsara, Braze and more.
• Rivian redesigns all-electric R1 pickup and SUV, adds Nvidia chips and improves performance.
• The low-end consumer ‘is really being stretched,’ says Five Below CEO.
  

MarketWatch.com: 

• This bond-market recession signal has been flashing since 2022, with no downturn.
• Chipotle gets closer to massive 50-for-1 stock split.
• Why PayPal’s stock just cruised to its best day since January.

Newsmax:  

• Thousands of Migrants Exempt From Biden's Newest Border Order.
• US Hostages' Kin Plead: Don't Forget Fellow Citizens.

Fox News:  

• FOX NEWS POLL: Trump surge puts Biden in jeopardy of losing state he won by more than 10 points in 2020.
• Hillary Clinton's D-Day comments spark fierce backlash: 'Sick and disgusting'.

TheGatewayPundit.com:

• No, President Trump is Not a “Convicted Felon” — Triable Federal Issues Abound in the Sham Bragg Verdict that Demands the Supreme Court Swiftly Intervene and Correct this Grave Injustice
• WATCH LIVE: President Trump to Address Crowd at “Chase the Vote“ Rally in Arizona.
• Surveillance State: Employees at Marshalls and TJ Maxx Are Wearing Police-like Bodycams to Prevent Theft.
• Connecticut Town Refuses to Honor Trooper Killed in the Line of Duty with Thin Blue Line Flag, Instead, Flys Pride Flag at Half-Mast as “Honor”.
• RIP HERO: 102-Year-Old WWII Veteran Dies After Medical Emergency en Route to France For D-Day Commemoration.
• New, Highly Contagious Sexually Transmitted Infection Spreading Overseas Has Arrived on U.S. Soil.
• Unarmed Social Workers to Replace Police in Responding to 911 Calls in Cambridge, Massachusetts.
• WAYNE ROOT: Steve Bannon is Headed to Prison. I’ve Warned for 3+ Years This is a Communist Takeover of America. All Roads Lead to Obama.
• ALIVE AND KICKING: Slovak PM Robert Fico Makes First Video After Assassination Attempt, Says He Was Targeted for His Views on Ukraine War.
• Trump Death Porn: Former Federal Prosecutor Fantasizes About Trump Dying in Prison.
• Kansas City Chiefs Cancel Team Activities After BJ Thompson Suffers Seizure and Cardiac Arrest.
• Radical Campus Anti-Israel Groups Sued for Being Terror Propagandists-‘Fomenting Hatred’.
• Study: COVID Shots Possibly Fueled Millions of Deaths in 47 Countries Since Beginning of the Pandemic Due to “Adverse Events”.

The Epoch Times:

• US Military Bases Unprepared for Rising Threats From Communist China.
• Sen. Brown Urges Probe Into Chinese-Owned Solar Firms.

Around X:

• @wideawake_media

• Spanish and French farmers block both sides of Spanish-French border, in protest against their livelihoods being demolished by the EU's climate policies. If you had to choose between living without farmers and living without unelected technocrats, which would you choose? (video)
• According to Deborah Birx, every cow in America should be tested for "bird flu", on a weekly basis. Make no mistake: "Bird flu" is a fabricated pretext to go after the food supply, among other things.

• @kenklippenstein
  

• SENATOR KENNEDY: What's the FBI doing to investigate the other people involved in Jeffrey Epstein's sex trafficking rings? FBI DIRECTOR: Well, I'm not sure that I can, um, confirm any specific individual. KENNEDY: He videotaped sex acts with prominent people...do you have those tapes? FBI DIRECTOR: I can't discuss the specifics of our law enforcement operations related to Mr. Epstein or Ms. Maxwell. But obviously, we had a very active investigation related to both of them. But whether it extends to other people, I'm not sure that's something. (video)

•  @robbystarbuck

• Wow. Everyone should read this whole wild story. @TheTNStar got their hands on an
  @FBI memo given to Nashville police that told them it was dangerous to release "legacy tokens" from the Covenant trans killer attack. That means hiding or destroying her manifesto, videos or other documents that she left behind. The FBI went out to outline precedent for destroying or hiding legacy tokens. (pic)

• @VigilantFox

• Dr. Phil Delivers Message Everyone Needs to Hear “We are not some banana republic, for God’s sake.” Disturbed by the 34-count felony conviction against Trump, Dr. Phil asks, “What are we gonna do next? Have a Putin poisoning posse and start finding political opponents foaming at the mouth at home, not so mysteriously dying in their la-z-boy recliners?” Dr. Phil says, “We need our justice department to return to the business of meting out justice and not running the political agendas of those currently in power, blindly seeking convictions, warranted or otherwise, and attacking political opponents.” “We’re better than that,” he added. “We must be better than that. I don’t like what I see happening in our country.” (video)

• @nicksortor

• JUST IN: Illegal immigrants are blocking traffic in NYC DEMANDING the end of Immigration and Customs Enforcement (ICE). I kid you not. We live in clown world. (video)

• @WallStreetApes 

• Donald Trump was convicted of 34 felonies by Democrats for a filing error. Yet 9 of the 12 NYPD officers who were assigned to the Anthony Weiner Laptop case ‘committed suicide’ and Sidney Powell said the crimes are so extreme it should be “handed over to the military”. No charges. No felonies. No arrests. This is America’s Two Tier Justice System. (video)
• 30 years ago, Dr. Robert Willner accused Fauci and others of genocide for their role in the HIV crisis. (video) 
• Tucker Carlson Reveals That The Director Of The CIA Threatened Him & Said It Was A Crime To Expose The CIA Murdered A Sitting United States President. Tucker also exposes The CIA was planning on murdering Julian Assange. (video)
  

• @Ultrafrog17

• Whoa. The President of El Salvador just told Tucker that MS 13 participates in Satanic child sacrifice rituals after he saved the country from the gang takeover that infected the nation. But the mainstream media told me that this was supposed to be a conspiracy theory? This is a battle between good vs evil. If you're not awake yet, then its time to start realizing that we are in a spiritual war. (video)

• @TheChiefNerd
  

• Fmr. CDC Director Robert Redfield Makes a Series of Stunning Admissions That Were Once Deemed 'Misinformation'. "There was a decision not to do anything that made the vaccine sound like it didn't work." "Two thirds of the people that I'm seeing infected in Maryland have been vaccinated." (video)
  

• @WallStreetSilv

• The WHO is running a scam on Bird Flu. 1) He died on April 24th 2) He was in the hospital for 3 weeks bedridden already for other reasons. 3) He likely died of those causes, not Bird Flu They used a PCR test which have been widely criticized as set so sensitive that many result in false positives. So they can now claim in headlines, "He died with Bird Flu" even though he probably didn't. Dying WITH Bird Flu (false positive PCR test) is very different that dying FROM Bird Flu.

• @MythinkformedMKE
  

• Judith Butler the “godmother of queer theory” just admitted that her work gives “license to pedophilia”.

• @toobaffled

• Nurse, whistleblower, and founder of American Frontline Nurses Nicole Sirotek describes for Peter Santilli how she witnessed hospital staff neglecting patients put on ventilators for COVID. Sirotek says that the mistreatment led to people developing blood-clotting issues and perforated bowels, and even dying from starvation. (video)

•  @Real_RobN

• And here it is, The Commonwealth of Pennsylvania, CORROBORATED firsthand eyewitness testimony under penalty of perjury; Between 130,000 - 280,000 completed MAIL-IN-BALLOTS for the 2020 Presidential election were borrowed from the gracious State of New York by the battleground, the Commonwealth of Pennsylvania.(video)

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 1,010,545 Reports(+992 from prior report) Through April 26th, 2024.

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 

• Asian equity indices are unch. to +1.0% on average.

• Asia Ex-Japan Investment Grade CDS Index 96.5 +1.0 basis point.

• China Sovereign CDS 64.25 +1.25 basis points.
  
• China Iron Ore Spot 111.1 USD/Metric Tonne +2.3%.

• Bloomberg Emerging Markets Currency Index 39.6 -.03%.
• Bloomberg Global Risk-On/Risk Off Index 62.5 -.2%.
• Volatility Index(VIX) futures 14.3 -.12%.
• Euro Stoxx 50 futures +.02%.

• S&P 500 futures +.01%.

• NASDAQ 100 futures +.10%.  

Morning Preview Links

BOTTOM LINE: Asian indices are modestly higher, boosted by technology and healthcare shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher.  The Portfolio is 100% net long heading into the day.