Today's Headlines

Bloomberg:     

• Taliban Resurgence Raises Terror Fears From Moscow to China.  
• G-20 Finance Chiefs Back Tax Deal and Vow to Clear Hurdles.  
• Fragile Global Rebound Troubles Finance Chiefs as Variants Lurk. 
  
• ECB’s Schnabel Is Sure Inflation Won’t Get ‘Excessively High’. 
• Global Boom in House Prices Becomes a Dilemma for Central Banks.
• Kaseya Failed to Address Security Before Hack, Ex-Employees Say.  
• Tokyo Cases Jump Ahead of Olympics; G20 Warning: Virus Update.
• Delta Variant Spills Out of Midwest Tourist Hub-Turned-Incubator.  
• Pelosi Husband’s Tech Stock Spotlights Law on Lawmaker Trades.  
• Fed Flags Crypto Assets for First Time in Financial Risk Review. 
• Business Trips Are Coming Back Faster Than Expected in the U.S.
• Megacap Tech Stocks Roar Back Into Vogue as Haven From Slowdown.  
• Wall Street’s Math Whizzes Are Racing to Wire Up the Bond Market.  
• Biggest Bond Rally in a Year Stalls With Short Wagers Washed Out.  
• Ripples of Fed’s Inflation Disquiet Keep Spreading: Eco Week.
• As Big Banks Report, $40 Billion Are on Tap in U.S. Credit.

Wall Street Journal:

• Biden Order Opens New Front in Battle With Big Tech.
• Companies Target a New Market: The Stressed Out.
• Viva Las Vegas? The Mega-Convention Shoots for a Comeback.
• Median Pay Shows How Companies Diverged in Their Covid-19 Response.
• Rich Americans Borrow to Live Off Their Paper Wealth.
• Strong U.S. Recovery Aids Growth in Canada, Mexico.
• Hospital Mergers, Surprise Medical Bills Targeted in Order.

CNBC:

• There’s no evidence a Covid booster shot is necessary, says Dr. Ashish Jha.
• G-20 signs off on tax crackdown, warns on virus variants.
• Earnings season begins in the week ahead with eye-popping growth set to validate market’s 2021 run.
• Tesla CEO Elon Musk goes to trial Monday to defend $2.6 billion SolarCity acquisition.
• Couples ready to ‘go all out’ as wedding industry sees surge in business, says The Knot CEO.

IG:

• Weekend Markets Trading Live.

Barron's:

• Had bullish commentary on (CLF), (X), (STLD), (EAF), (DDOG), (DT), (ESTC) and (NUE).
  

Fox News:

• After years of negotiations, crowds watch as Charlottesville topples statues. 
• Video of kid's reaction to flag goes viral as patriotic symbols come under attack.
  

Newsmax:  

• WH's Psaki: Hunter Biden's Art Buyers to Remain Anonymous.
• Matt Schlapp to Newsmax: Trump to Tell the World, You Won't Silence Us.
  

Zero Hedge:

• "Ignore No Soliciting Signs, Use Your Script": Vaccine Door-Knocking Documents Revealed.
• Goldman: Here's Why The Shorts Will Have To Cover This Week.
• The Millennials Who Swore Off Cars Pre-COVID Are Now Buying Them.
• The S&P Hasn't Closed Below Its 200 DMA Since June 2020: What Does This Mean For The Second Half.
• Bond Yields Send An Economic Warning.
• California Grid Strained As Power Shortfalls Loom.
• Just 25 'Under 18s' Died From COVID In England, 100s Died From Suicide And Trauma.
• Russia Ready To Activate Tajikistan Military Base Over Fighting In Afghanistan.
• High Cost But Useless Master's Degrees And Who's Offering Them.
• The Weaponization Of January 6.
• Darryl Cooper: Why Trump Supporters Are Pissed Off And Don't Trust Anything. 
• People Who Recover From COVID-19 At "Very Low Risk" Of Re-Infection: Study.
  

TheGatewayPundit.com:

• “Every Institution Is Run By People Who Will Use Any Means to Disclude Them” – Tucker Carlson on Why Americans Believe the 2020 Election Was Stolen.
• Creepy Andrew Weissmann Slips Up and Inadvertently Shares that the Feds are Spying on Whoever They Want and Sharing Results within the DOJ.
• Stanford Dr. Jay Bhattacharya Calls US COVID Response “Single Biggest Public Health Mistake in History” (VIDEO).
• This Explains All the Gaslighting: Clyburn Says ‘Defund the Police’ Is Killing Democrats at the Polls as Crime Surges Across the Country Thanks to Their Constant Attacks on Police (VIDEO). 
• All Big Cities Should Have Their 2020 Election Results Forensically Audited Now – Detroit, Milwaukee, Las Vegas, Minneapolis, St. Louis, Houston, Orlando, etc.
• Update on 10,300 Illegal Votes Found in Georgia.
• Vernon Jones: “Brian Kemp and Brad Raffensperger Failed to Conduct a Secure Election” – Calls For Statewide Audit in GA.

The Epoch Times:  

•  US ‘Deeply Concerned’ by Repression of Falun Gong in Russia: State Department.

Digital Blackboard:

• Daily New Cases by Region.

Worldometer:

• New Cases/Deaths by state.

Rt Covid-19:

• How fast virus is growing by state.

KFF:

• State Data(Tests/Hospitalizations).

Evening Headlines

Bloomberg:          

• China’s Easing Forces Traders to Rethink How They Label Markets.  
• China Tech’s Trillion-Dollar Stock Slump Signals Buyer Beware.
• G-20 to Warn of Virus Risks Amid ‘Great Divergences’ in Recovery.
• EU to Urge 2035 Goal to End Combustion-Engine Era in Autos.
• Bitcoin ‘Crash’ Risks Taking Its Price Down to $10,000, Minerd Says.
• Diaper Inflation Wrecks Already-Strained Family Budgets in U.S.
• Stocks Climb to All-Time Highs While Bonds Retreat: Markets Wrap.  
• CDC Eases School Guidance; Florida Cases Surge: Virus Update.   
• Top U.S. Stainless Steel Maker Roiled by Supply Chain Woes.  
• Charting the Global Economy: Chip Shortage Restraining Factories.
• Oil Posts First Weekly Loss Since May on OPEC+ Volatility.

Wall Street Journal:

• The Hunter Biden Laptop Is Real.
• Joe Biden, 20th Century Trustbuster.
• How Much Are Prices Up? Here’s One Family’s Day-to-Day Expenses.
• Didi Tried Balancing Pressure From China and Investors. It Satisfied Neither.
• Why Aren’t Millions of Unemployed Americans Finding Jobs?
• CDC Urges Schools to Welcome Kids Back, Vaccinated or Not.
• Fed Says Shortages, Hiring Difficulties Hold Back Brisk Growth.
• American Frackers Show Restraint as Oil Tops $70.

CNBC:

• Earnings season begins in the week ahead with eye-popping growth set to validate market’s 2021 run.
• Biden fires Social Security boss Andrew Saul, a Trump appointee who refused to leave.
• Sen. Elizabeth Warren slams Wells Fargo for causing potential credit score hit to its customers.
• Value inflows outpaced growth in 2021′s first half. Where the money is going and why.
• Biogen stock falls after FDA calls for federal investigation into Alzheimer’s drug approval.

IG:

• Weekend Markets Trading Live.

MarketWatch.com:       

• It’s Houston, not Austin, that’s winning the competition to establish tech hubs in Texas.
  
• Opinion: The bull market in stocks may last up to five years — here are six reasons why.

Fox News:

• Video shows inconvenient truth about Dems' GOP defund the police claims.
• CNN's downward spiral continues, lineup fails to crack 1M viewers.
• PERGRAM: Olympics, politics intertwined from almost beginning.
  

Zero Hedge:

• Taliban Boasts It's Already Taken 85% Of Afghanistan Day After Biden Declared "US Objectives Achieved".
• Japan "Digging Its Own Grave" & Its "Survival" On The Line: China Warns Over Taiwan Stance. 
• In Many Cities In America, The Criminals Are Starting To Gain Firm Control Of The Streets. 
• "Remarkable Decision" - Court Rules Air Force Is More At Fault For Mass Shooting Than The Shooter. 
• "Biggest Demand Ever" - Americans Spend Big Money On Backyard Pools.
• Biden Inc.: Hunter, Joe, & The Mexican Oligarchs.
• Federal Government Does Not Have Database Of Who Has Received COVID-19 Vaccine: White House.
• "Choose Another Living": Cantor CEO Howard Lutnick Slams Junior Bankers Complaining About Long Hours.
• Alleged Cyberattack Creates "Unprecedented Chaos" For Iran's National Rail Network.
• Steve Cohen Lost $500 Million From Melvin Capital Meltdown.
• Pentagon Offered National Guard Troops 2 Days Before Jan. 6, Former Chief Of Staff Confirms.
• Did A Korean Research Team Just Find The "Holy Grail" Of Water Desalinization.
• Stocks Soar To All Time High As Bonds, Bullion And Bitcoin Bounce.
  

TheGatewayPundit.com:

• Dozens of School Districts are Using Book that Claims ‘Whiteness’ is the Devil and That White Children Sell Their Soul for “Stolen Land and Stolen Riches”.
• NEW VIDEO: Black-Clad Hoodlums Were First Up the Stairs, First to Smash Windows at US Capitol — But FBI Refuses to Look for Them – Weird, Huh?
• Arizona Audit Would Be FINISHED Already If Maricopa County Complied – Why Are They Stalling?!

The Epoch Times:  

• US Blacklists Over a Dozen Chinese Entities for Aiding Xinjiang Abuses and Military Modernization.

Digital Blackboard:

• Daily New Cases by Region.

Worldometer:

• New Cases/Deaths by state.

Rt Covid-19:

• How fast virus is growing by state.

KFF:

• State Data(Tests/Hospitalizations).

Stocks Surging into Final Hour on China Rate Cut, Dovish Fed Commentary, Oil Gain, Commodity/Financial Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Substantially Higher
  

• Sector Performance: Almost Every Sector Rising
  

• Volume: Below Average

• Market Leading Stocks: Outperforming
  

Equity Investor Angst:

• Volatility(VIX) 16.2 -14.7%
• Bloomberg Global Risk On/Risk Off Index 3,139.0 +250.0 points

• Euro/Yen Carry Return Index 135.14 +.67%

• Emerging Markets Currency Volatility(VXY) 8.8 -1.5%

• S&P 500 Implied Correlation 46.4 -4.0%

• ISE Sentiment Index 131.0  +25.0 points
  

• Total Put/Call .84 -2.3%

• NYSE Arms .43 -70.3%

Credit Investor Angst:

• North American Investment Grade CDS Index 48.09 -1.6%
  

• US Energy High-Yield OAS 381.43 -1.6%

• European Financial Sector CDS Index 54.17 -2.0%

• Italian/German 10Y Yld Spread 106.0 -1.0 basis point
  

• Asia Ex-Japan Investment Grade CDS Index 89.17 +.33%
  

• Emerging Market CDS Index 159.22 -1.9%
  

• China Corp. High-Yield Bond USD ETF(KCCB) 38.71 unch.

• 2-Year Swap Spread 8.25 unch.

• TED Spread 8.0 -1.0 basis point
  

• 3-Month EUR/USD Cross-Currency Basis Swap -5.75 +.5 basis point
  
• MBS  5/10 Treasury Spread  70.25 +.25 basis point
  
• IHS Markit CMBX BBB- 6 73.5 -.25 basis point
  

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 59.94 +.28%
• 3-Month T-Bill Yield .05% unch.
  

• Yield Curve 112.0 +2.0 basis points
  

• China Iron Ore Spot 206.65 USD/Metric Tonne +1.2%

• Citi US Economic Surprise Index -.3 -.7 point

• Citi Eurozone Economic Surprise Index 87.10 -4.5 points
  

• Citi Emerging Markets Economic Surprise Index 70.9 +3.0 points

• 10-Year TIPS Spread 2.29 +5.0 basis points
• 100.0% chance of no change at Nov. 3rd meeting, 100.0% chance of no change at Dec. 15th meeting

Overseas Futures:

• Nikkei 225 Futures: Indicating +635 open in Japan 
• China A50 Futures: Indicating +99 open in China

• DAX Futures: Indicating -3 open in Germany

Portfolio:

• Higher: On gains in my commodity/industrial/tech/biotech sector longs
  

• Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
  

• Market Exposure: Moved to 100% Net Long
  

Bear Radar

 Style Underperformer:

• Large-Cap Growth +.8%

Sector Underperformers:

• 1) Shipping -1.2% 2) Utilities -.1% 3) Medical Equipment +.1%

Stocks Falling on Unusual Volume: 

• SGH, EVGO and SAVA
  

Stocks With Unusual Put Option Activity:

• 1) PBF 2) CLDX 3) SAVA 4) ARKG 5) VOO
  

Stocks With Most Negative News Mentions:

• 1) CPOP 2) EAR 3) SGH 4) XL 5) ARRY
  

Charts:

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

Bull Radar

Style Outperformer:

• Small-Cap Value +2.1%

Sector Outperformers:

• 1) Steel +3.9% 2) Banks +3.3% 3) Retail +3.2%

Stocks Rising on Unusual Volume:

• STMP, CCXI, GBX, BTU, MATX, FLR, NEGG, ASTR, SNOW, AMEH, QSI, AVXL, KSU, FLS, GM, PGTI, SABR and KPLT
  

Stocks With Unusual Call Option Activity:

• 1) PBI 2) FLR 3) RAIL 4) LEVI 5) XRT

Stocks With Most Positive News Mentions:

• 1) CHKP 2) TAL 3) KSU 4) GM 5) DFS
  

Charts:

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

Mid-Day Market Internals

NYSE Composite Index:

• Volume Running -21.4% Below 100-Day Average 
• 10 Sectors Rising, 1 Sector Declining
• 74.1% of Issues Advancing, 21.5% Declining
• 98 New 52-Week Highs, 4 New Lows
• 79.9% of Issues Above 200-day Moving Average
• Average 14-Day RSI 43.8%
  
• Bloomberg Global Risk-On/Risk-Off Index 3,124.0 +237.0 points
• Russell 1000: Growth/Value 17,451 -.47%
  
• Vix 16.3 -14.3%
• Total Put/Call .80 -7.0%
• TRIN/Arms .36 -75.2%