Bull Radar

Style Outperformer:

• Small-Cap Value +2.5%

Sector Outperformers:

• 1) Oil Service +8.4% 2) Airlines +7.5% 3) Gaming +4.6%

Stocks Rising on Unusual Volume:

• NKLA, SRG, TGI, TEN, NXTC, VVI, RUTH, BYND, CUK, MAC, ALK, BA, WOR, THO, PRVB, NCLH, ZYXI, OXY, UAL, SONO, PPC, PLAY, JBLU, CAR, SWBI, CHX, VRT, SPR, SAVE, SPCE, NPTN, SCVL, AAL, SPG, SMCI and APG

Stocks With Unusual Call Option Activity:

• 1) RRC 2) TWO 3) TRXC 4) MTDR 5) WLL

Stocks With Most Positive News Mentions:

• 1) BA 2) ALK 3) LLNW 4) THOR 5)JBLU

Charts:

• ETFs Rising on Unusual Volume
• Stocks Rising on Unusual Volume

Monday Watch

Today's Headlines

Bloomberg:      

• China’s Looming Budget Hole Poses Risk to Stimulus Efforts.  

• Slide of China’s Yuan Versus Peers Signals Risks Ahead.

• Global Times Hu Slams U.S. Over Wars, Pompeo Nazi Remarks.  

• U.S. Futures Push Higher; Asian Stocks to Rise: Markets Wrap.  Asian stocks looked set to start the week with gains after Friday’s U.S. jobs report smashed expectations and bolstered hope of a quick economic rebound. U.S. equity futures climbed. Futures pointed higher in Japan and Hong Kong. Australia has a holiday. S&P 500 contracts rose in early Asian trading, after the index posted a third weekly advance last week. The dollar traded mixed against its Group-of-10 peers, after sliding Friday. The Australian and New Zealand dollars strengthened, while the yen was little changed. S&P 500 futures gained 0.5% as of 7:31 a.m. in Tokyo. The index closed 2.6% higher Friday. Nikkei 225 futures rose 1.3%. Hang Seng futures climbed 1.1%. 

• Saudi Arabia and Russia Unite to Tackle OPEC’s Pinocchio Problem.

• Oil Advances Toward $43 After OPEC+ Extends Production Cuts.

• Defunding Police ‘Absurd,’ Says Top U.S. Homeland Official.

• N.Y. Has Fewest Positive Tests; U.K. Deaths Slow: Virus Update.

Wall Street Journal:

• Yes, America Is in a Cold War With China

• Live Updates: Democrats Plan Bill to Make It Easier to Prosecute Police Misconduct.

• Trump tells National Guard to leave D.C.

• Coronavirus Good News.

• Local Crime App Citizen Becomes a Key Tool During Protests.

• Protests Complicate Mayors’ Efforts to Combat Coronavirus.

• California, Some Other States See Virus Cases Rise.

• New York City Faces Next Big Test: Reopening.

• U.S. Shale Companies Are Turning the Oil Taps Back On.

• Airlines Got $25 Billion in Stimulus; Industry Still Expected to Shrink.

• Covid-19 Batters India’s Mumbai.

• Covid-19 Stalks Large Families in Rural America.

Fox News:

• Vandals deface, tear down these statues in George Floyd unrest.

• Sen. Cotton rips NY Times for caving to staff, challenges paper to ID wrong facts in op-ed.

• SHAUN KING: Dems running cities with worst police brutality records.

• Suspect, 27, nabbed in ‘violent’ attack on 82-yr.-old Trump supporter.

CNBC: 

• Coronavirus live updates: AstraZeneca approached Gilead about a potential merger.

• AG Barr says law enforcement isn’t systemically racist as protests against police brutality continue.

• Contact tracing has become a fast-growing job opportunity with many people still out of work.

• Casinos look to protect customers from themselves with new safety measures.

• Hospitals could struggle — and more will go bankrupt — until they get patients back in the door.

• China May exports slip back into contraction, imports worst in 4 years.

• Five charts that track the U.S. economy amid reopening progress.

• American Airlines outlines severance packages for high-level employees as coronavirus continues to weigh.

Zero Hedge:

• Minneapolis City Council To Disband City's Police Department.

• Car Plows Into Protesters In Brooklyn, Anarchists Attack Children's Hospital During 12th Night Of "Largely Peaceful" Protests.

• Major Bicycle Brand Suspends Sales To Police Claiming Bikes 'Weaponized' Against Protesters.

• De Blasio Plans To Shift Funds From NYPD To "Youth & Social Services" As UK Demonstrators Destroy 'Racist' Statues.

• Philly News Editor Ousted After Daring To Question Legitimacy Of Burning The City's Buildings Down.

• Saudi Aramco Boosts Oil Export Prices By Most On Record.

• Not The Onion: BLM Protesters Vandalize Abraham Lincoln Statue In London.

• NYT Editorial Page Head Quits After Internal Revolt Over Tom Cotton Op-Ed.

• The Status Quo Of Virtue-Signaling.

• Governments Have Crippled The World's Economies, Revolution May Soon Follow.

• White House Denies Widely-Repeated Story That Trump Wanted 10,000 'Active-Duty' Troops To End DC Protests.

• After Saying "Stay Home, Save Lives" And Shutting Parliament, Trudeau Attends Packed Protest Without Social-Distancing.

• Brazil Hides Data Showing Soaring COVID-19 Fatalities As Global Death Toll Tops 400k: Live Updates.

• China Unexpectedly Reports Record Trade Surplus As Exports Of Face Masks Soar.

• A Quarter Of Americans Skipped Meals Or Relied On Food Banks During Virus Lockdowns.

• The Cracks In The Financial System Are Getting Bigger... Here's What It Could Mean For Gold.

• From Blow To Bitcoin - The Escobars Believe They've Found The Real Satoshi.

• Trump Lashes Out Over Lagging NATO Spending - Pulls 9,500 Troops From Germany.

• Not Just Retail: Hedge Funds Flood Into Stocks; Net Leverage Highest In Over Two Years.

• Chaotic COVID Response Sparks Revival In Once Despised Plastics Industry.

Business Insider:

• Ditching the mall has become a badge of honor as the COVID-19 crisis leaves retailers scrambling to promote safety at stores.

• Eerie photos show empty cruise ships moored off coasts around the world as the coronavirus floors the industry.

• COVID-19 Executive Survey.

• New York City just unveiled its plan for outdoor dining. Here's how the city plans to use sidewalks, curb sides, and open streets for restaurants.

The Epoch Times:

• China Exports for May Slip Back Into Contraction, Imports Worst in 4 Years.

• Brian Kennedy: Did Communist China Miscalculate with the Hong Kong Security Law?

John Hopkins University:

• Coronavirus Global Cases. (map)

BNO News:

• Tracking coronavirus: Map, data and timeline.

KFF:

• State Data(Tests/Hospitalizations).

Night Trading

• Asian indices are +.75% to +1.25% on average.

• Asia Ex-Japan Investment Grade CDS Index 87.75 -3.25 basis points.

• China Sovereign CDS 48.25 -.25 basis point.

• Bloomberg Emerging Markets Currency Index 61.87 +.10%.

• FTSE 100 futures n/a.

• S&P 500 futures +.72%.

• NASDAQ 100 futures +.60%.

Morning Preview Links

Earnings of Note

Company/Estimate

Before the Open:

• (THO)/-.07

After the Close:

• (CASY)/1.83

• (COUP)/1.07

• (SFIX)/-.14

Economic Releases

• None of note
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Germany Industrial Production report and the Deutsche Bank Industrials/Materials Summit could also impact trading today.

Market Hours
Normal:

• 9:30 am - 4:00 pm EST

BOTTOM LINE: Asian indices are modestly higher, boosted by commodity and industrial shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed.  The Portfolio is 75% net long heading into the week.

Weekly Outlook

• Wall St. Week Ahead by Reuters.
• Global Economy Week by Bloomberg. 
• The Week Ahead by Yahoo. (video)
• Stocks to Watch Next Week by Seeking Alpha.
• Weekly Economic Calendar by Briefing.com.

BOTTOM LINE: I expect US stocks to finish the week mixed as disappointing global economy re-opening data, coronavirus second wave worries and less dovish FOMC commentary offset global stimulus hopes, performance chasing and short-covering. My intermediate-term trading indicators are giving bearish signals and the Portfolio is 75% net long heading into the week.

Today's Headlines

Bloomberg:  

• Charting the Global Economy: U.S. Job Market Springs Back.

• Oil’s Fragile Peace Is Threatened by Iraq’s Desperate Reality.  

• A Booming Stock Market Could Come Back to Bite the Recovery.

• American Jobs Are Returning But An Ugly Summer Still Looms.

• Dumb Money Is Looking a Lot Smarter in Never-Ending Stock Rally.

• Golden Nugget Owner Says Casinos, Eateries Aren’t Bouncing Back.  

• N.Y. Deaths Slow; U.S. Sees No Reopening Outbreaks: Virus Update.  

• Wall Street Doubts Fed’s $600 Billion Lending Plan Can Succeed.

• New Evidence Social Distancing Is on the Wane.

Wall Street Journal:

• Experts Sound Alarm Over Coronavirus Spread as U.S. Prepares for More Protests.

• Politicians Shutter Churches and Synagogues, Then Tolerate Riots.

• Who Needs Cities When We All Work From Home?

• Cities Change How They Discipline Officers.  

• NFL’s Goodell Endorses Peaceful Protests by Players as Trump Revives Criticism.

• The New Recipe for Restaurant Survival? Become the Next Domino’s.

• Virus Outbreak Pushes Rural Mississippi Hospital to Brink.

CNBC:

• ‘The machine doesn’t fall ill’: Amid the pandemic, companies look to replace workers with robots.

• From hair salons to casinos, here’s what reopened businesses could look like post-pandemic.

• Survey shows America’s richest have donated less than 0.1% of their wealth for coronavirus relief.

IG:

• Weekend Markets Trading Live.

Barron's:

• Had bullish commentary on (SYY), (SSRM), (VIR), (FMC), (CTVA), (TWTR), (PFGC) and (USFD).

MarketWatch.com:

• Opinion: ‘You should be nervous!’—legendary money manager slashes stock market exposure from 55% to 25%.

Fox News:

• Thousands of protesters march toward White House as crowds grow, aiming for largest demo yet.

• Biden’s latest gaffe exposes leftist elitism: Rob Smith. 

• Chinese state media editorial claims some in China 'cheering' George Floyd unrest online.

Zero Hedge:

• Retail Outlets Along I-95 Close Saturday As Looters Target The Suburbs.

• Washington DC Police Brace For "One Of The Largest Demonstrations We've Ever Seen" On Saturday.

• Gulf Coast Braces For Tropical Storm Cristobal To Strike On Sunday.

• "Here's Your 'V'!" - No, The Market Is Not Forward-Looking.

• 50 State AGs Are Pushing To Breakup Google's Ad-Tech Dominance Alongside DOJ.

• The Real Looters Are The Politicians.

• 1200 Public Health Experts Advocate Mass Gatherings Because "White Supremacy" Is Bigger Threat Than COVID-19.

• 12th Day Of Protests Underway As Millions March Across US; Chicago Police Find Suspicious Buckets Of Bricks Around City.

• Goldman's Clients Are Asking What Happens If Trump Loses And Dems Take The Senate.

• With 40 Million Unemployed, Citi Urges Wealthy Clients: "It's Time To Buy".

• Hopes Of 'V-Shaped' Recovery Sink As World Trade Refuses To Rebound.

• OPEC+ To Agree On One-Month Extension To Historic Production Cuts.

• Iran's Nuclear Stockpile Rose By Over 50% During Three Months Of COVID Lockdown: IAEA.

• Crime... Is Crime! The Age Of Chaos Has Arrived.

• The Fed Just Unleashed A Trillion In New Debt: Companies Took The Money And Spent It On Dividends While Firing Millions.

• "Complete Sterilization" - Disinfectant Tunnel May Be Key To Bringing Back Pro Sports.

• Instagram "Influencers" Use Floyd Protests For Photoshoots, Eliciting Furious Backlash.

• "Extreme" Looters Are Using Absolutely Crazy Tactics Never Seen Before.

• NFL Condems Police Brutality And Racism, Says It Was "Wrong" Not To Support Kneeling Players.

• Devouring Its Own: How Many On The Left Fostered The Violent Movement Now Rioting Across The Country?

• Chicago Mayor Begs Walmart, Other Looted Retailers Not To Abandon City.

• Record Stampede Into Stocks: Nasdaq Volume Hits All Time High As Put-To-Call Ratio Craters.

• Some Positive Moments Amid All The Turmoil.

• "I'm The World's Greatest Day Trader": Barstool's Dave Portnoy Epitomizes Retail's Takeover Of Rigged Markets.

• Washington DC Mayor Renames Street Near White House After Black Lives Matter.

• US Consumer Credit Crashes As Americans Repay A Record Amount Of Credit Card Debt.

• 'Party Of Science' Chooses Feelings Over Facts In Flip-Flop Over Large Gatherings.

• NYT Editor Admits Paper Pitched Op-Ed To Tom Cotton!

• "A Safe Space To Practice Aggression": Veritas Infiltrates Antifa 'Fight Club' In NYC.

• Rasmussen: Black Approval For Trump Surges To Over 40%.

• Stocks Soar To Record Highs Amid Bond Bloodbath, Momentum Massacre.

Business Insider:

• 'The ECB action was strong, but when Lagarde went into the details investors lost their excitement': Here's what analysts are saying about the ECB's $1.53 trillion rescue package.

• Hertz skyrockets 825% since filing for bankruptcy as Robinhood traders pile in.

• From warehouses to office space, real-estate markets are being turned upside down. These are the winners and losers.

The Epoch Times:

• Taiwan Voters Oust Beijing-Friendly Mayor in Historic Recall Election.

• Hundreds of Virus Patients Test Positive Again After Initial Recovery in China: Leaked Internal Documents.

• Pompeo Slams Beijing’s ‘Laughable Propaganda’ Exploiting George Floyd Protests.

John Hopkins University:

• Coronavirus Global Cases. (map)

BNO News:

• Tracking Coronavirus: Map, data and timeline. 

KFF:

• State Data(Tests/Hospitalizations).