Tuesday Watch

Evening Headlines

Bloomberg:

• China’s Yuan Falls to One-Year Low on Weak Growth, Tariff Risk.
• Trump Will Visit Paris to Celebrate Reopening of Notre Dame.
• Who’s Fighting and Why in the Revived Syrian War. 
• Korea Inflation Picks Up Less Than Expected in Sign of Stability.
• France Faces ‘Moment of Truth’ With Government on Brink of Collapse.
• BOJ Weighs Case for First Triple Hike Since Japan’s Bubble Burst. 
• Asian Stocks Rise With US Curbs on China in Focus.
• Oil Stabilizes Ahead of OPEC+ Supply Meeting as Volatility Drops.
• Cyber Monday $13.5 Billion Splurge Seen Beating Initial Forecast.
• Fed Officials Keep Options Open for December Rate Decision.
  

Zerohedge: 

• Biden-Linked Delaware Judge Rejects (Again) Musk's '70%-Shareholder-Approved' $56 Billion Pay-Package.
• Special Counsel Rejects Hunter Biden's Pardon, Files Scathing Rebuke In Court Case.
• NATO Chief Warned Trump 'Bad' Ukraine Peace Deal Is A 'Dire Threat' To US, Europe.
• Huge Hedge Fund "All-Or-Nothing" Trades Gain Traction.
• De Beers Pulls "Last Resort" Price Cut As Diamond Price-Floor Crumbles.
• The Failure Of COP29: Does The "Green Agenda" Have A Future?
• Nearly One In Five US Teens Experienced Depression Last Year.
• What Is The Administrative State?
• Yes, Mexico Knows Exactly What It Is Doing.
• Debanked: The Financial Suppression Of Bitcoin Businesses Must End.
• US stocks finished mixed and the dollar strengthened following Trump's tariff threat and a Goldilocks ISM Manufacturing report - Newsquawk Asia-Pac Market Open.
• Iran-Backed Iraqi Militias Pour Across Border Into Syria To Bolster Assad.
• Cartels Demand Higher Border Crossing Fees After Trump Victory.
• "They Must Be Eating Xanax Like Tic-Tacs..." - The Blob Has A Migraine.
• Stocks and Dollar catch bid after more Trump Tariff threats - Newsquawk US Market Wrap. 
• Paris, PMIs, & Puking Crypto: 'Good' News Sparks Re-Inversion Of Yield Curve.

The Wall Stree Journal:

• One Last Bundle of Falsehoods about Biden Family Business.
• Climate-Change Colonialism Keeps Poor Countries Impoverished.
• Pardon Me, Dad: The Hunter Biden Story.
• What to Know About the Unusual Pardon.
• China Tensions Prompt U.S. Navy Race to Reload Missiles at Sea.
• America’s Biggest Apartment Owner Takes a Leap Into Modular Homes.
• The Railroad on the Wrong Side of Trump’s Tariffs.
• GM to Exit Michigan EV Battery Plant.
• Hedge Fund Paloma Partners Offers IOUs to Fleeing Investors.
• Eli Lilly and Novo Nordisk’s Obesity Moat Just Got Stronger.

MarketWatch.com:

• 10 of Wall Street’s favorite dividend stocks for 2025 with yields of at least 4%.
• Why Nvidia and other chip stocks are mostly shrugging off latest China rules.
• Zscaler’s post-earnings stock drop further bucks 2024’s rally by software sector.
• Fed’s Waller says he supports interest-rate cut at next meeting — for now.
• Tesla’s stock surges after self-driving software update, new Street-high target.

Fox News:

• First lady addresses President Biden's decision to pardon son Hunter from criminal charges.
• Single congressional race stands between Republicans and 1-seat majority.
• What Trump told Trudeau at Mar-a-Lago that triggered nervous laughter.
• Biden bans new mining in key region that produces nearly half of US coal: 'It's a disaster'.
• What Americans are saying after President Biden's broad pardon of son Hunter.

TheGatewayPundit.com:

• ‘The View’s Whoopi Goldberg Goes Crazy Defending Hunter’s Pardon, Demands Co-Host Stop Calling Biden a Liar (VIDEO).
• Scott Jennings Torches CNN Panel on Joe Biden Pardoning Hunter: “He’s Leaving Office in Complete and Total Disgrace. He is a Liar and There is No Other Way to Spin This” (Video).
• Prosecutors in Special Counsel Dave Weiss’s Office Object to Hunter Pardon, Blast Joe Biden.
• IMMIGRATION U-TURN: Canada No Longer Welcomes Mass Migration, Launches Global Online Ad Campaign Cautioning Asylum-Seekers That ‘Making a Claim Is Hard’.
• Please Enjoy Democrat Rep. Dan Goldman Getting Absolutely Humiliated on CNN When He is Forced to Watch His Previous Comments on Joe Biden Pardoning Hunter (VIDEO).
• Karine Jean-Pierre GASLIGHTS the Public After Reporter Points Out Joe Biden Lied About a Hunter Pardon (AUDIO).
• Mike Davis Fires Warning Shot at Senate RINOs: Confirm Kash Patel or “Face The Political Wrath of The Article III Project” – Tell Your U.S. Senators to Confirm Kash Patel as FBI Director HERE (VIDEO).
• Biden Discussed Pardoning Hunter In June, Told Aides He Would Lie to the Public About Pardon Plans.
• Former CNN Lefty Crank John Harwood Gets Embarrassing Community Note on X.
• Colorado Officials Persecuting Tina Peters Worked for Dominion.
• Woke Jaguar’s Concept Cars Have Leaked Ahead of Official Reveal and They Are Absolutely Hideous. 
• ‘Should Be Disqualified!’ — Conservatives Slam Trump’s DEA Pick Chad Chronister for Being a Woke, Democrat Donor, Pro-Vaccine ‘Tyrant’ Who Arrested a Pastor During COVID.

The Epoch Times:

• Malaysia Warns China Against Using It to Avoid US Tariffs.
• How Does Alex Wong, Trump’s Incoming National Security Deputy, View China?
• China’s Rapid Space Militarization Raises Concerns.

Around X:

• @elonmusk

• Cancel culture has been canceled.
  

• @C_3C_3

• Wrap your head around this. President Trump was impeached over wanting to look into the crimes Joe Biden just pardoned Hunter for.

• @Wendyp4545

• BREAKING: U.S. to announce another $725 million in military aid for Ukraine. Western North Carolina $0 Ukraine $215 Billion.

• @bennyjohnson

• BREAKING: Special Counsel David Weiss rejects Hunter Biden’s bid to dismiss his indictment, saying a pardon doesn’t erase the charges.

• @WallStreetApes

• Entire towns in Mexico are turned into ghost towns due to the threat of the cartels. “They fear we could be kidnapped”. The child trafficking business is now so huge with cartels stealing kids and taking them into America, entire towns have left. This is insane. (video)
• New digital pricing has come to American grocery stores. He says that he’s seen the pricing change based on time of day and how many items are left, “They'll fluctuate based off of demand”. - If it’s 6pm, the price goes up. - Once the inventory on these items become low, the prices will start to shoot up to $1.20. “They're gonna start incorporating all these all over. Yeah, so it's pretty crazy. I'll come back later on in the day and you'll see this go up and down in price. You'll see it go as low as like 89 cents, which is pretty crazy”. Welcome to dystopia. (video)
• This is so insane. “US government has been hiring an average of 50,000 workers per month for the past 2 years. 50,000 workers per month for 2 years straight”. “Which is one of the highest rates in 30 years”.

• @BehizyTweets

• BREAKING: Wisconsin Judge Brad Schimel has approved a subpoena against ActBlue, saying, "Something is NOT right" after hearing evidence that ActBlue is using the names of unsuspecting people to launder dark money to Democrat campaigns. “There may be an element of fraud, or maybe it is innocent. Plaintiff has set forth enough in their complaint and in support of their subpoena to demonstrate that there may be something here.”

• @matt_vanswol

• FEMA seems to be very confused why the people of #WNC are choosing to NOT use the hotel vouchers they are handing out... Let me explain:
  

• @goddeketal

• I spent half my life pursuing a PhD in biotechnology. I dedicated myself to honest science—running experiments, being critical, and trying to disprove my own hypotheses. Eventually, I earned my degree. It was grueling but meaningful work. Then you see this. This woman just received a PhD from one of the so-called “elite” universities for a thesis claiming that describing smells is racist. Yes, you read that right. The core of her research? If you say someone stinks, people like them less—a concept any child learns from cartoons at age four. Her abstract is stuffed with pretentious language and inflated words, making a simple idea sound profound. But what’s worse is that this kind of “scholarship” is increasingly being legitimized.

• @amuse

• KASH PATEL: Did you know that Kash has more prosecutorial experience than 4 of the last 10 FBI Directors? He's got more defense experience than 8 of them. Ironically, Kash is one of the most qualified directors in the last last 30 years.

• @Liz_Wheeler

• Trump’s pick for DEA head Chad Chronister withheld taxpayer money from unvaccinated deputies if they got sick. He gave taxpayer money to vaxxed deputies. Despicable. Please, Pres. Trump, withdraw this nomination. The last thing we need in federal law enforcement is more tyranny.

• @NickAdamsinUSA
  

• Azeez Al-Shaair wears pro-terrorism messages on his cleats and faces no consequences. Nick Bosa wears a MAGA hat in a postgame interview and he gets fined the maximum amount by the NF. Boycott the NFL.

• @EricLDaugh

• BREAKING: Elon Musk confirms that Kash Patel is MAGA's "line in the sand" and that GOP senators will face political challenges if they do not vote to confirm him for FBI director.

• @TheBuckYouWill

• WE ARE BEING POISONED. The Trudeau government is poisoning you. Bovaer is a feed additive given to cows to stop farts and it's been in our food supply for a year! I'M SERIOUS. The gov't has NO LONG TERM studies to see how it impacts humans. THIS IS SCARY SHIT.

• @DerrickEvans4WV
  

• PEOPLE NEED TO WAKE UP... Your 7-year-old wakes up exhausted. Not because he's sick. Because it's 6AM. You pour him cereal. Not because it's healthy. Because it's quick. He stares at an iPad. Not because it's good for him. Because you need to get ready. The school calls later: "He can't focus" "He can't sit still" "He needs testing" The doctor writes a prescription. Not because your boy is broken. Because the system is. The truth? His brain is FIGHTING:

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 1,016,047 Reports(+2,606 from prior report) Through October 25, 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 +.25% to +1.25% on average.

• Asia Ex-Japan Investment Grade CDS Index 72.25 -.5 basis point.

• China Sovereign CDS 63.5 -1.0 basis point.
  
• China Iron Ore Spot 104.40 USD/Metric Tonne -.2%

• Bloomberg Emerging Markets Currency Index 37.3 -.05%.
• Bloomberg Global Risk-On/Risk Off Index 65.3 +1.4%.
• Volatility Index(VIX) futures 16.1 +1.1%.
• Euro Stoxx 50 futures +.39%

• S&P 500 futures +.18%.

• NASDAQ 100 futures -.01%.  

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 mixed and to rally into the afternoon, finishing modestly higher.  The Portfolio is 100% net long heading into the day.