Evening Headlines

Bloomberg:                

• It’s Much Harder for Fleeing Afghans to Reach Europe Than Six Years Ago.
• Oil Posts Second Weekly Gain With U.S. Storm Impact Lingering.  
• Funds Flee Bullish Crop Bets as Hurricane Ida Disrupts Exports.
• Peak Everything Puts Shine on Equity Market’s Sturdiest Stocks.
• Traders Weigh Fed Timeline After Weak Jobs Report: Markets Wrap.
• Match Group Surges 11% Postmarket on Planned S&P 500 Inclusion.  
• Potential Tax on Share Buybacks Gets Shrug: Wall Street Reacts.
• AstraZeneca Covid Vaccine Technology Shows Promise for Cancer Shot.
• White House Unveils $65 Billion Plan to Combat New Pandemics.  
• NFTs Boom Anew as DOG Coin Becomes $550 Million Asset Overnight.  
• Everyone Loves Low Interest Rates: Why the Stock Rally Can Go On.  
• State, Local Job Recovery Stalls Out Amid Virus’s Resurgence.
  
• Charting Global Economy: U.S. Job Growth Misses, China Struggles.

Wall Street Journal:  

• Oregon’s Covid Wave at Its Worst Despite High Vaccination Rate.
• Afghanistan’s Women’s Soccer Team Knew It Had to Get Out. ‘Burn Your Jerseys.’
• Hiring Slowdown Likely Derails Case for September Fed Taper.
• Heard on the Street: The Next Jobs Report Won’t Look Great, Either.
• The Covid Booster Debate.
  
• The Biden Jobs Paradox.
  
• Biden’s Second Surrender.  
• Homelessness Is Behind the Anger at Gavin Newsom.

CNBC:

• Here’s where the jobs are — in one chart.
• U.S. heads into Labor Day with Covid vaccines but a much worse outbreak than this time last year.
• Democrats consider new taxes aimed at CEO pay, stock buybacks for $3.5 trillion budget plan.
• MongoDB surge wraps up a massive week for open-source software as a business.

IG:

• Weekend Markets Trading Live.

MarketWatch.com:     

• ‘People just aren’t applying’: Why the restaurant industry created no new jobs last month.
  
• NFT marketplace OpenSea records $3.4 billion transaction volume in August, 10 times the month before.
  
• 14 dividend stocks from a winning value manager as the broader market hits records.

Fox News: 

• State Dept. officials sound alarm over disturbing reports about Afghan men entering United States.
• 'Beat with sticks': Republican shares heartbreaking messages from people stranded in Afghanistan.
• Former NYT reporter exposes 'private spy' industry with major political targets.

Zero Hedge:

• Florida To Fine Businesses $5,000 For Violations Of Vaccine Passport Ban.
• Taliban To Announce "Inclusive" Government Saturday, With 'Commander Of The Faithful' On Top.
• Top Health Officials Push Back Against Biden's Booster Jabs Plan.
• Don't Expect An Easy Life And Be Ready To Struggle, China's Xi Warns Officials.
• Millions To Lose Benefits As Pandemic Jobless Aid Expires.
• There's A Problem In The Upper Reaches Of Our Military.
• Florida Chiropractor Signs Mask Exemption Slips For Hundreds Of Students.
• Taliban No Longer Feels Washington's Love As Iran Gains US Ground Hardware.
• China Labor Reforms Nix "996 Work Culture" As Some Complain About Crackdown.
• Footage Emerges Showing US Troops Frantically Smashing Equipment Before Leaving Kabul.
• Rabobank: "The US Is Dancing Drunkenly From One Massive Self-Indulgence To The Next, Fiddling As Things Burn".
• Peloton Slides After App Usage Plummets 42% In Last 4 Months.
• 'Losing Faith'? - Cryptos & Commodities Rally As Dollar Dumps On Dismal Data, Afghan Angst.

TheGatewayPundit.com:

• BREAKING: THEY GOT CAUGHT! Investigators Have Video of 240 Leftist Operatives in Georgia Dumping Thousands of Ballots from Backpacks into Drop Boxes in Middle of the Night!
• ‘Child Brides’ Arrive in US Because of Joe Biden’s Chaotic Evacuation From Afghanistan.
• “What Are the Chances of Me Getting Covid?” – Fully Vaccinated Oscar De La Hoya Hospitalized with Covid-19 (VIDEO).
• WATCH: Rep. Marjorie Taylor Greene – Momentum Is Growing For Audit Of GA Election Results: “The Biggest Roadblock Is Our Secretary Of State Brad Raffensperger… I Would Hope That Brad Raffensperger Would Find Some Integrity And Backbone”.
• Lyft Donates $1 Million to Planned Parenthood, Vows to Pay Legal Fees for Drivers Bringing TX Women to Get Illegal Abortions.
• LOST BALLOTS in Arizona, Wisconsin And Nevada Exceed Biden’s Victory Margins: “MARICOPA COUNTY Alone Has Admitted That They Sent 110,000 Mail-In Or Absentee Ballots To What Turned Out To Be The WRONG Addresses,”.

The Epoch Times:

• US Should Wage Information Warfare Against CCP to Expose ‘Evil Nature of Regime’: China Analyst Bill Gertz.

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).
• Bloomberg.com:  International Travel Restrictions.  Case Graphs by State.
  
• NYTimes.com:  County Trends and Clusters. Local ICU Occupancy.
  
• Brown School of Public Health:  Covid Severity by State/County(map).  US Hospital Capacity(region).
  
• 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).

Weekly Scoreboard*

S&P 500 4,539.24 +.64%*

 

 

 

 

 

 

 

 

 

 

 

 

The Weekly Wrap by Briefing.com. 

Indices

• DJIA 35,416.50 -.19%

• NASDAQ 15,371.50 +1.5%

• Russell 2000 2,289.30 +.6%

• S&P 500 High Beta 74.61 -.88%

• Goldman 50 Most Shorted 339.95 +.97%

• Wilshire 5000 47,110.50 +.6%

• Russell 1000 Growth 2,941.22 +1.3%

• Russell 1000 Value 1,608.07 -.08%

• S&P 500 Consumer Staples 754.68 +1.54%

• MSCI Cyclicals-Defensives Spread 1,432.55 -1.0%
  

• NYSE Technology 4,367.35 +1.9%

• Transports 14,809.41 -.43%

• Utilities 950.50 +1.9%

• Bloomberg European Bank/Financial Services 73.69 -.32%

• MSCI Emerging Markets 53.13 +3.2%

• HFRX Equity Hedge 1,467.20 +.54%

• HFRX Equity Market Neutral 927.64 -.13%

Sentiment/Internals

• NYSE Cumulative A/D Line 482,736 +1.1%

• Bloomberg New Highs-Lows Index 995 +906

• Crude Oil Commercial Bullish % Net Position -37.3 +3.3%

• CFTC Oil Net Speculative Position 374,312 -7.4%

• CFTC Oil Total Open Interest 2,042,879 -4.4%

• Total Put/Call .84 -4.7%

• OEX Put/Call 3.30 -7.5%

• ISE Sentiment 114.0 -22.0 point

• NYSE Arms 1.10 +43.4% 
• Bloomberg Global Risk-On/Risk-Off Index 2,993.0 +157.0 points
• Bloomberg Financial Conditions Index + Bubbles 5.75 +.84% 
  

• Volatility(VIX) 16.4 +.5%

• S&P 500 Implied Correlation 50.99 +2.7%

• G7 Currency Volatility (VXY) 5.8 -1.7%
  

• Emerging Markets Currency Volatility (EM-VXY) 8.5 -1.3%

• Smart Money Flow Index 14,915.98 -.51%

• ICI Money Mkt Mutual Fund Assets $4.509 Trillion -.4%

• ICI Domestic Equity Long-Term Mutual Fund/ETFs Weekly Flows -7.364 Million

• AAII % Bulls 43.4 +9.6%

• AAII % Bears 33.0 -6.0%

Futures Spot Prices

• CRB Index 220.01 +.38%

• Crude Oil 69.12 +1.0%

• Reformulated Gasoline 214.87 +.67%

• Natural Gas 4.70 +7.1%

• Heating Oil 215.49 +2.1%

• Gold 1,830.29 +.8%
• Silver 24.70 +2.9%
  

• S&P GSCI Industrial Metals Index 473.67 +.54%

• Copper 433.5 +.57%

• US No. 1 Heavy Melt Scrap Steel 448.0 USD/Metric Tonne -1.54%

• China Iron Ore Spot 144.10 USD/Metric Tonne -8.1%

• Lumber 637.0 +27.0%

• UBS-Bloomberg Agriculture 1,288.35 -1.2%
• US Gulf NOLA Potash Spot 600.0 USD/Short Ton +3.5%
  

Economy

• Atlanta Fed GDPNow Forecast +3.7% -1.4 percentage points
  

• ECRI Weekly Leading Economic Index Growth Rate +4.0% -.8 percentage points
  
• Bloomberg US Recession Probability Next 12 Months 10.0% unch.
  

• NY Fed Real-Time Weekly Economic Index +7.95 +.25%

• US Economic Policy Uncertainty Index 71.5 -50.6%

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 214.26 +.29%

• Citi US Economic Surprise Index -54.0 -4.5 points

• Citi Eurozone Economic Surprise Index -22.2 -7.5 points

• Citi Emerging Markets Economic Surprise Index 15.7 -12.8 points

• Fed Fund Futures imply 100.0% chance of no change, 0.0% chance of rate hike on 9/22

• US Dollar Index 92.01 -.74%

• MSCI Emerging Markets Currency Index 1,739.26 +.72%
  

• Bitcoin/USD 50,329 +3.3%

• Euro/Yen Carry Return Index 134.57 +.66%
  

• Yield Curve 108.0 -2.0 basis points
  

• 10-Year US Treasury Yield 1.32% +1.0 basis point
  

• Federal Reserve's Balance Sheet $8.310 Trillion +.19%

• U.S. Sovereign Debt Credit Default Swap 9.96 -.1%

• Illinois Municipal Debt Credit Default Swap 128.0 +8.2%
  

• Italian/German 10Y Yld Spread 107.0 +4.0 basis points
  

• China Sovereign Debt Credit Default Swap 32.69 -4.3%
  

• Brazil Sovereign Debt Credit Default Swap 175.85 -1.2%
  

• Israel Sovereign Debt Credit Default Swap 42.0 -1.23%

• South Korea Sovereign Debt Credit Default Swap 17.92 +.13%

• Russia Sovereign Debt Credit Default Swap 79.59 -1.68%

• China Corp. High-Yield Bond USD ETF(KHYB) 38.4 -.09%

• 10-Year TIPS Spread 2.34% -6.0 basis points

• TED Spread 8.0 +.25 basis point

• 2-Year Swap Spread 9.0 +.25 basis point
  

• 3-Month EUR/USD Cross-Currency Basis Swap -3.0 -.25 basis point

• N. America Investment Grade Credit Default Swap Index 46.66 -.48%
  

• America Energy Sector High-Yield Credit Default Swap Index 297.0 -7.7%

• European Financial Sector Credit Default Swap Index 52.06 -1.0%
  

• Emerging Markets Credit Default Swap Index 150.11 -2.2%
  

• MBS 5/10 Treasury Spread 74.5 +2.0 basis points
  
• Markit CMBX BBB-6 72.5 unch.

• M2 Money Supply YoY % Change 12.1 unch.
  

• Commercial Paper Outstanding 1,156.60 +.6%

• 4-Week Moving Average of Jobless Claims 355,000 -3.2%
  

• Continuing Claims Unemployment Rate 2.0% -10.0 basis points
  

• Average 30-Year Mortgage Rate 2.87% +1.0 basis point

• Weekly Mortgage Applications 719,400 -2.4%

• Langer Consumer Comfort 58.2 +1.0 point

• Weekly Retail Sales +16.6% +.7 percentage point

• Nationwide Gas $3.18/gallon +.01/gallon

• Baltic Dry Index 4,001 -4.6%

• China (Export) Containerized Freight Index 3,097.58 +.6%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 17.5 unch.
• Truckstop.com Market Demand Index 155.82 +7.4%

• Rail Freight Carloads 269,756 -.28%
• US Covid-19:  355 infections/100K people(last 7 days total) +25/100K people
• US Covid-19:  67% of Jan. 7th,2021 peak +5.0 percentage points
  

Best Performing Style

• Small-Cap Growth +1.4%

Worst Performing Style

• Small-Cap Value -.2%
  

Leading Sectors

• Social Media +4.1%

• Robotics +3.7%
  

• Video Gaming +3.4%

• Digital Health +3.4%
  

• Medical Equipment +3.0%
  

Lagging Sectors

• Road & Rail -1.8%
  

• Oil Service -2.3%

• Airlines -2.9%

• Steel -3.3%

• Banks -4.0%
  

Weekly High-Volume Stock Gainers (35)

• MDB, RKLB, DOCN, PD, ALEX, SLQT, AMR, NTNX, CTLP, GDRX, AVPT, ESTC, AR, SEER, RRC, MARA, GWRE, INMB, ASAN, RSI, EQT, COUP, SAIC, COIN, SMAR, BTBT, KNBE, SAIC, BL, CERT, IPOF, PCOR, AMBA, PING, HLMN and UPST
  

Weekly High-Volume Stock Losers (11)

• VZIO, BYND, JWN, CURV, PFN, LE, TLYS, PTY, AGFY, SAVA and JOAN
  

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Reversing Slightly Higher into Afternoon on Diminishing Fed Taper Worries, Declining Virus Lockdown Fears, US Dollar Weakness, Tech/Metals & Mining Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Lower
  

• Sector Performance: Mixed
  

• Volume: Below Average

• Market Leading Stocks: Performing In Line
  

Equity Investor Angst:

• Volatility(VIX) 16.4 +.12%
• Bloomberg Global Risk On/Risk Off Index 2,974.0 +17.0 points

• Euro/Yen Carry Return Index 134.60 -.11%

• Emerging Markets Currency Volatility(VXY) 8.55 unch.

• S&P 500 Implied Correlation 50.8 +1.5%

• ISE Sentiment Index 113.0  +13.0 points
  

• Total Put/Call .81 +20.9%

• NYSE Arms 1.16 +21.0%

Credit Investor Angst:

• North American Investment Grade CDS Index 46.61 +.59%
  

• US Energy High-Yield OAS 397.76 -.88%

• European Financial Sector CDS Index 52.08 +.79%

• Italian/German 10Y Yld Spread 107.0 +2.0 basis points
  

• Asia Ex-Japan Investment Grade CDS Index 64.43 -.43%
  

• Emerging Market CDS Index 150.11 +.02%
  

• China Corp. High-Yield Bond USD ETF(KHYB) 38.35 -.25%

• 2-Year Swap Spread 9.0 unch.

• TED Spread 8.0 -.25 basis point
  

• 3-Month EUR/USD Cross-Currency Basis Swap -3.0 unch.
  
• MBS  5/10 Treasury Spread  74.0 -1.5 basis points
  
• IHS Markit CMBX BBB- 6 72.5 unch.
  

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 60.64 +.14%
• 3-Month T-Bill Yield .04% unch.
  

• Yield Curve 108.0 -1.0 basis point
  

• China Iron Ore Spot 144.1 USD/Metric Tonne +.5%

• Citi US Economic Surprise Index -54.0 -2.2 points

• Citi Eurozone Economic Surprise Index -22.2 -11.3 points
  

• Citi Emerging Markets Economic Surprise Index 15.7 -2.8 points

• 10-Year TIPS Spread 2.34 unch.
• 98.3% chance of no change at Nov. 3rd meeting, 98.3% chance of no change at Dec. 15th meeting

US Covid-19:

• 355 new infections/100K people(last 7 days total) 0/100K people
• 67% of Jan. 7th, 2021 peak(highest daily avg. new infections) unch.
  

Overseas Futures:

• Nikkei 225 Futures: Indicating +407 open in Japan 
• China A50 Futures: Indicating +43 open in China

• DAX Futures: Indicating -5 open in Germany

Portfolio:

• Higher: On gains in my tech sector longs and index hedges
  

• Disclosed Trades: None
  

• Market Exposure: 100% Net Long
  

Bear Radar

 Style Underperformer:

• Small-Cap Value -.8%

Sector Underperformers:

• 1) Airlines -1.4% 2) Homebuilding -1.4% 3) Oil Service -1.4%

Stocks Falling on Unusual Volume: 

• FLYW, BYND, CHPT, CURV, TLYS, PFN, PTY, SAVA, TTCF, YEXT and JOAN
  

Stocks With Unusual Put Option Activity:

• 1) MDB 2) MAC 3) FBRX 4) MDLZ 5) EWJ
  

Stocks With Most Negative News Mentions:

• 1) FBRX 2) JOBY 3) YEXT 4) SAVA 5) MNRL
  

Charts:

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