Today's Headlines

Bloomberg:                

• World’s Food Supplies Get Slammed by Drought, Floods and Frost.  
• China Blasts NBC for Using ‘Incomplete’ Map on Olympic Broadcast.
• U.S. Says It Isn’t Seeking Anti-China Coalition Ahead of Talks.
• China Bans For-Profit School Tutoring in Sweeping Overhaul.
• Biden Team Has No Immediate Plan to Sanction China Over Hacks.  
• Pfizer Shot Halts Severe Illness, Allows Infection in Israel.
• U.K. ‘Pingdemic’ Fallout; Clashes in Australia: Virus Update.  
• Musk Says India Plant Likely if Tesla Succeeds in Importing Cars.  
• Social Media Buzz: Jill Biden at Olympics, Sydney Covid Protest.  
• GM Sues Ford in Fight Over Branding of Self-Driving Cars. 
• Blackstone’s Gray Joins World’s 500 Richest as Shares Soar.  
• Fed Officials to Meet, GDP Data Coming Globally: Eco Week Ahead.  
• Wall Street Interns Return to Office, and Nightlife, After a Year of Zoom Meetings. 
• The Exchange: Don’t Fear the Index Giants, and Volatility Trades Boom.
• Robinhood Ditches IPO Traditions Again in a Roadshow Open to All.
• Whipsawed Bond Traders Hunker Down for the Return of the Fed.

 

 

Wall Street Journal:

• How Science Lost the Public’s Trust.
• FICO Score’s Hold on the Credit Market Is Slipping.
• Covid-19 Vaccine Holdouts Face Restrictions in Europe.
• In Palm Beach, at Least 22 Homes Have Sold for $40 Million-Plus Since Covid.
• The Boss Wants You Back in the Office. Like, Now.
• Chicago Casino Would Be Costly, Gambling Operators Say.
• Congress Beats Up Charter Schools.

 

CNBC:

• Zoom’s fast ascent to $100 billion made big acquisitions a sudden priority.
• Earnings and the Federal Reserve are next big catalysts as stocks enter week ahead on an upswing.
• China orders Tencent to give up exclusive music licensing rights as crackdown continues.
• Start-ups will suffer from antitrust bills meant to target Big Tech, VCs charge.

 

IG:

• Weekend Markets Trading Live.

Barron's:

• Had bullish commentary on (WH), (HLT), (RCL), (TNL), (MGP), (HST), (ABNB), (NFLX) and (TRIP).
• Had bearish commentary on .

MarketWatch.com:         

• Weekend reads: A dire warning about Chinese stocks.  
• Don’t fall into a REIT value trap — these 20 stocks score highest on quality.  
• Here are Wall Street’s favorite big tech stocks as the Nasdaq closes in on another milestone.

Fox News:

• Legislators strip liberal Gov. Whitmer of emergency powers she enjoyed wielding during COVID pandemic.
• Prices of everyday items are getting more expensive: What you should know.

 

LA Times: 

 

Newsmax: 

   

• Mark Meadows: Infrastructure Biased for Dem Run Cities.
• WH Now Insists Ethics Safeguards Are in Place for Hunter Biden's Art Sale.

 

 

One America News Network:

 

 

 

 

 

Zero Hedge:

• CNN: Segregate Unvaccinated, Make Them Pay For Tests Every Day.
• Bovard: The Coming "January 6" Train Wreck.
• Biden Aggressively Heckled At Virginia Event: "This Is Not A Trump Rally!".
• JPM Top Exec Mary Erdoes: "There's A Reason" Junior Bankers Must Work 72 Hour Weeks.
• "It Looks Like A Bazaar In Istanbul": Without Police On The Street, Illegal Vendors And Gamblers Are Taking Over The Bronx.
• California Is Experiencing A Crime "Tsunami", DA Says.
• Forecasters Monitor Tropical Disturbance Off Florida's Southeast Coast.
• Danish Military Alarmed To Find Iranian Warships Cruising Baltic Sea.
• Nord Stream 2 'Deal' Is Not An American Concession, It's Admission Of Defeat.
• Taliban Warns Of Retaliation As US Is Continuing Airstrikes In Afghanistan. 
• Despite What Biden Says, Guns Factor In Only A Small Percentage Of Violent Crimes.
• Rep. Jordan Asks IG Horowitz For More Evidence On FBI Official's Alleged Misconduct.
• "Lights Will Stay On:" Texas Grid Operator Prepares For Imminent Heat Wave.
• Biden Says New Cuba Sanctions Are "Just The Beginning" .
• Kodak Deletes Instagram Post After Photographer Called Xinjiang "Orwellian Dystopia".

 

 

 

PredictIt:

@kylenabecker:

 

 

 



TheGatewayPundit.com:

• Nearly One-Third of Illegal Aliens in ICE Custody Refuse to Get Covid Vaccine.
• BOOM! Founder of mRNA Vaccine: CDC Is UNDER-REPORTING and EDITING Adverse Affects of COVID Vaccines — Govt. Suppressing Information!
• Weird? After Weeks of Significant Spikes in the Thousands in Vaccine Deaths Listed on CDC-Linked VAERS Website — The Number Jumps 265 This Week – But Still Tragic.
• PUSHBACK: NFL Star Refuses To Share Vaccine Status — “I Think That’s HIPAA”.
• Biden DOJ Drops Investigations of All Democrat Governors Whose Actions Killed Tens of Thousands of Seniors in Nursing Homes with COVID.
• INSANITY: Almost a Million People Can’t Leave Home in Sydney Because Man in His 80s Died from/with COVID. 
• Afghan Translator Beheaded by Taliban After US Forces Flee.
• Corrupt Biden DOJ Drops All Charges Against Five Chinese Scientists Accused of Concealing Ties to the Chinese Military.
• “Freedom, Freedom, Freedom!”- Masses Of Australians March Against COVID Lockdowns.

 

The Epoch Times:

• China Spurs Domestic Military Sector with Stolen Tech, R&D Investment: Report.

 

Daily Mail:

 

 

 

Covid-19(Data, Maps, Graphs):

• Our World in Data:  New Global Covid-19 Cases(7-day rolling average graphs). New US Covid Hospital Admissions/ICU Admissions/Deaths
  
• FT.com:  Fully Vaccinated by Country(graph). Global Lockdown Stringency Index(map).
  
• NYTimes.com:  County Trends and Clusters.
  
• Brown School of Public Health:  Covid Severity by State/County(map).  US Hospital Capacity.
  
• CovidActNow:  Covid Severity/Infection Rate by Metro Area.
  
• KFF:  US Vaccinations by Race/Ethnicity.
  
• Carnegie Mellon: Covid-Like Symptoms in Community. Covid Symptom Searches on Google. Covid-Related Dr.Visits.  Restaurant Visits. Wearing Masks. (graphs)
  
• Safegraph.com:  Commerce Patterns(graphs).

Market Week in Review

• S&P 500 2,042.39 -1.47%*

The Weekly Wrap by Briefing.com.

*5-Day Change

Weekly Scoreboard*

Indices

• S&P 500 2,042.39 -1.47%

• DJIA 17,457.90 -1.33%

• NASDAQ 4,842.86 -1.42%

• Russell 2000 1,094.07 -2.10%

• S&P 500 High Beta 28.37 -.91%

• Goldman 50 Most Shorted 98.67 +.29% 

• Wilshire 5000 21,004.30 -1.37%

• Russell 1000 Growth 998.21 -1.35%

• Russell 1000 Value 962.74 -1.55%

• S&P 500 Consumer Staples 546.54 -.69%

• Solactive US Cyclical 128.48 -1.73%

• Morgan Stanley Technology 1,044.70 -2.02%

• Transports 7,728.15 -2.07%

• Utilities 659.45 -1.75%

• Bloomberg European Bank/Financial Services 74.26 -3.48%

• MSCI Emerging Markets 33.44 -1.39%

• HFRX Equity Hedge 1,113.14 -.65%

• HFRX Equity Market Neutral 1,016.83 +.36%

Sentiment/Internals

• NYSE Cumulative A/D Line 236,272 -1.22%

• Bloomberg New Highs-Lows Index -79 -134

• Bloomberg Crude Oil % Bulls 28.57 +28.58%

• CFTC Oil Net Speculative Position 305,511 n/a

• CFTC Oil Total Open Interest 1,734,511 n/a

• Total Put/Call .98 -1.06%

• OEX Put/Call .48 -73.64%

• ISE Sentiment 81.0 -19.0%

• NYSE Arms .94 +19.75%

• Volatility(VIX) 15.79 +19.46%

• S&P 500 Implied Correlation 58.52 +9.95%

• G7 Currency Volatility (VXY) 11.89 +9.28%

• Emerging Markets Currency Volatility (EM-VXY) 11.81 +1.55%

• Smart Money Flow Index 19,466.27 +1.73%

• ICI Money Mkt Mutual Fund Assets $2.739 Trillion -.97%

• ICI US Equity Weekly Net New Cash Flow -$3.731 Billion

• AAII % Bulls 32.2 +18.4%

• AAII % Bears 21.5 -16.7%

Futures Spot Prices

• CRB Index 171.04 +1.79%

• Crude Oil 39.54 +7.99%

• Reformulated Gasoline 145.91 +3.76%

• Natural Gas 1.99 +1.84%

• Heating Oil 119.35 +5.2%

• Gold 1,242.50 +1.5%

• Bloomberg Base Metals Index 138.08 -3.28%

• Copper 208.65 -3.83%

• US No. 1 Heavy Melt Scrap Steel 170.67 USD/Ton unch.

• China Iron Ore Spot 54.57 USD/Ton -.42%

• Lumber 290.50 -4.06%

• UBS-Bloomberg Agriculture 1,054.44 -.75%

Economy

• ECRI Weekly Leading Economic Index Growth Rate +1.6% +90.0 basis points

• Philly Fed ADS Real-Time Business Conditions Index -.0460 +19.15%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 123.22 +.17%

• Citi US Economic Surprise Index -6.0 -1.6 points

• Citi Eurozone Economic Surprise Index -29.50 -7.5 points

• Citi Emerging Markets Economic Surprise Index 6.0 +6.6 points

• Fed Fund Futures imply 96.0% chance of no change, 0.0% chance of 25 basis point hike on 4/27

• US Dollar Index 94.22 -.41%
• MSCI Emerging Markets Currency Index 1,498.14 -.66%

• Euro/Yen Carry Return Index 128.98 -2.97%

• Yield Curve 102.0 -3.0 basis points

• 10-Year US Treasury Yield 1.72% -5.0 basis points

• Federal Reserve's Balance Sheet $4.444 Trillion +.04%

• U.S. Sovereign Debt Credit Default Swap 20.95 -.17%

• Illinois Municipal Debt Credit Default Swap 345.0 +.37%

• Western Europe Sovereign Debt Credit Default Swap Index 27.48 +5.7%

• Asia Pacific Sovereign Debt Credit Default Swap Index 59.24 +.3%
  

• Emerging Markets Sovereign Debt CDS Index 151.04 +1.79%
  

• Israel Sovereign Debt Credit Default Swap 75.43 -.46%

• Iraq Sovereign Debt Credit Default Swap 999.63 -.02% 

• Russia Sovereign Debt Credit Default Swap 294.26 -1.89%

• iBoxx Offshore RMB China Corporates High Yield Index 127.09 +.21%

• 10-Year TIPS Spread 1.60% -4.0 basis points

• TED Spread 40.25 -.25 basis point

• 2-Year Swap Spread 14.0 +2.0 basis points

• 3-Month EUR/USD Cross-Currency Basis Swap -21.50 +2.5 basis points

• N. America Investment Grade Credit Default Swap Index 81.0 +3.56%

• America Energy Sector High-Yield Credit Default Swap Index 1,481.0 +5.75%

• European Financial Sector Credit Default Swap Index 101.21 +11.5%
  

• Emerging Markets Credit Default Swap Index 307.26 +6.26%
  

• CMBS AAA Super Senior 10-Year Treasury Spread  to Swaps unch.
  

• M1 Money Supply $3.172 Trillion -.19%

• Commercial Paper Outstanding 1,101.80 +.1%

• 4-Week Moving Average of Jobless Claims 266,750 +3,500

• Continuing Claims Unemployment Rate 1.6% unch.

• Average 30-Year Mortgage Rate 3.59% -12.0 basis points

• Weekly Mortgage Applications 472.80 +2.67%

• Bloomberg Consumer Comfort 42.6 -.2 point

• Weekly Retail Sales +.80% -10.0 basis points

• Nationwide Gas $2.04/gallon -.02/gallon

• Baltic Dry Index 517.0 +14.88%

• China (Export) Containerized Freight Index 640.27 -.90%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 42.50 -26.09%

• Rail Freight Carloads 253,841 +6.69%

Best Performing Style

• Large-Cap Growth -1.3%

Worst Performing Style

• Small-Cap Value -2.5%

Leading Sectors

• Coal +10.0%

• Gold & Silver +6.1%

• Biotech +3.0%

• Drugs +2.0%

• Energy +1.8%

Lagging Sectors

• HMOs -3.1% 

• Insurance -3.2%

• Banks -3.7%

• Retail -5.1%

• I-Banks -6.3%

Weekly High-Volume Stock Gainers (11)

• RLYP, VA, RKUS, CSII, EW, TLN, TSLA, SCLN, TTOO, PFE and NVTA

Weekly High-Volume Stock Losers (9)

• PHM, AFSI, WWE, AGN, MYCC, CREE, MTSC, ROVI and BABY

Weekly Charts

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Higher into Afternoon on Less European/Emerging Markets/US High-Yield Debt Angst, Oil Bounce, Short-Covering, Metals & Mining/Energy Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Modestly Higher
  

• Sector Performance: Mixed
  

• Volume: Below Average

• Market Leading Stocks: Performing In Line
  

Equity Investor Angst:

• Volatility(VIX) 15.4 -4.5%

• Euro/Yen Carry Return Index 129.10 +.34%

• Emerging Markets Currency Volatility(VXY) 11.81 +.6%

• S&P 500 Implied Correlation 57.42 -.02%

• ISE Sentiment Index 72.0 -16.3%

• Total Put/Call .94 -7.84%

• NYSE Arms .94 -25.81% 

Credit Investor Angst:

• North American Investment Grade CDS Index 81.75 -1.03%
  

• America Energy Sector High-Yield CDS Index 1,456.0 +.21%

• European Financial Sector CDS Index 101.0 -1.59%

• Western Europe Sovereign Debt CDS Index 27.38 -1.08%

• Asia Pacific Sovereign Debt CDS Index 59.30 -2.35%

• Emerging Market CDS Index 307.16 -.71%
  

• iBoxx Offshore RMB China Corporate High Yield Index 127.09 +.03%

• 2-Year Swap Spread 14.0 +1.25 basis points
  

• TED Spread 40.25 +.5 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -21.5 +.25 basis point
  

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 72.10 +.62%
• 3-Month T-Bill Yield .22% -1.0 basis point
  

• Yield Curve 102.0 +2.0 basis points
  

• China Import Iron Ore Spot $54.57/Metric Tonne unch.

• Citi US Economic Surprise Index -6.0 +.6 point

• Citi Eurozone Economic Surprise Index -29.50 +1.5 points

• Citi Emerging Markets Economic Surprise Index 6.0 +.5 point

• 10-Year TIPS Spread 1.60% +1.0 basis point
  
• 17.3% chance of Fed rate hike at June 15 meeting, 28.4% chance at July 27 meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating +109 open in Japan 
• China A50 Futures: Indicating +48 open in China

• DAX Futures: Indicating +29 open in Germany

Portfolio: 

• Lower: On losses in my biotech/retail sector longs and emerging market shorts
  

• Disclosed Trades: None

• Market Exposure: 25% Net Long

Bear Radar

Style Underperformer:

• Small-Cap Growth -.2%

Sector Underperformers:

• 1) Biotech -1.9% 2) HMOs -1.1% 3) Retail -.7%

Stocks Falling on Unusual Volume:

• CLVS, GPS, ICPT, CME, RLYP, HOFT, LB, MCFT, UA, VRX, WDFC, WSO, RECN, BIB, JWN, BBBY, UBIO, AGN, IBB, ITG, ANGO, CPXX, GHDX, BNFT, OCUL and BNFT

Stocks With Unusual Put Option Activity:

• 1) EWJ 2) CSX 3) PSX 4) LB 5) CME

Stocks With Most Negative News Mentions:

• 1) LNKD 2) AKS 3) GPS 4) BOOT 5) CNA

Charts:

• ETFs Falling on Unusual Volume
• Stocks Falling on Unusual Volume