Evening Headlines
Bloomberg:
- Global Stocks Dive Into Bear Market as Risk Appetite Evaporates.
- Property Values Fall Across US, Europe on Bite From Inflation.
- Europe's Plan to Quit Russian Fuel Plunges Pakistan Into Darkness.
- Stocks, Bonds Roiled by Fears of Bigger Fed Hikes: Markets Wrap.
- Traders Brace for 4% Peak in Fed Rate as Bond Rout Intensifies.
- Inflation Data Likely Push Fed to Consider 75 Basis-Point Hike.
- Wall Street Floats 100 Basis-Point Fed Hike as Inflation Stings.
- Influencer-Approved Bull Market Sputters to End on Hawkish Fed.
- Crypto Billionaire Fortunes Vanish as Quickly as They Were Made.
- Crypto Investors Who Bought the Hype Are Getting Hit Hardest.
- MicroStrategy’s Losses on Its Bitcoin Bet Near $1 Billion.
- Bored Ape NFTs Face Steep Declines in Broad Cryptoasset Rout.
- ‘Bear-Market Blues’ Test Mettle of Most Devout Bitcoin Holders.
- Elon Musk to Address Twitter Staff For First Time Since Deal.
- JPMorgan, Goldman Halt Russian Debt Trading After US Tightens Ban.
- Tampon Manufacturers Say They’re Working to Address Reported Shortages.
- Murder-Suicides by Pilots Are Vexing Airlines as Deaths Mount.
- Amazon Builds Property Empire, Quietly Buying Land Across the US.
- Big Tech’s Floor Collapses on Renewed Fears of Bigger Rate Hikes.
- Wall Street Sours on S&P as Margin Woes Rattle Corporate America.
- Index falls 3.9%, Dow skids 876 points on inflation, rate fears.
- Bond Yields Surge Ahead of Fed Meeting.
- Bitcoin Price Falls Below $23,000, an 18-Month Low.
- Coinbase Shares Succumb to Crypto Rout.
- Climate-Change Censorship: Phase Two. Now Gina McCarthy tells Big Tech to stifle debate global-warming policy responses.
- The Cost of Wishful Thinking on Inflation Is Going Up Too. First it wasn’t real. Then it was ‘transitory.’ Now we’re told the Fed will cure it with a few rate hikes.
- How Fed and Biden Administration Got Inflation Wrong.
- Lawmakers Push for New Powers to Block U.S. Investments in China.
- Without Cheap Russian Energy, Some European Factories Must Close.
- Prologis to Buy Duke Realty in $26 Billion Deal, Including Debt.
- LNG Prices Will Steam Up Again.
Fox News:
CNBC.com:
- 10-year Treasury yield rockets above 3.39% in biggest move since March 2020.
- Latest Shanghai quarantines add more pressure to global supply chain.
- GM’s stock closes below IPO price for first time since October 2020.
- The crypto industry just had one of its worst days ever — Here’s what happened.
- 1980s-era rate hikes will create more market turmoil, Canaccord’s Tony Dwyer predicts.
- Morgan Stanley CEO James Gorman sees 50-50 odds of recession ahead.
- BlockFi, the Peter Thiel-backed crypto start-up, cuts 20% of its staff as bitcoin plunges.
- Bitcoin crashes 15%, Celsius halts withdrawals, and crypto’s ‘dot-com bubble’: CNBC Crypto World.
MarketWatch:
- 22 things you should know about bear markets.
- The S&P 500 just confirmed a bear market: What investors need to know.
- Stocks sink as inflation fears trigger shock waves: What investors need to know about stagflation.
- BlackRock isn’t buying the dip as volatility climbs in sinking stock market.
- JP Morgan, Goldman economists now expect Fed to raise rates by 75 basis points on Wednesday.
- Oracle stock jumps 12% on strong cloud revenue.
- Bitcoin tumbles through $24,000 in crypto crash. This chart shows how much worse a selloff could get.
- Binance blocks bitcoin withdrawals as crypto prices crater.
- Here’s how much money you would’ve lost if you bought crypto during Matt Damon’s ‘Fortune Favors the Brave’ commercial.
- There’s another reason companies should tread carefully with political influence — the stock market is watching.
Zero Hedge
- The Great Celsius Implosion: What Went Wrong And How Much More Will Bitcoin Drop.
- Japan On Verge Of Systemic Collapse With "Dramatic, Unpredictable Non-Linearities" In Financial Markets, DB Warns.
- CNN, CBS, NBC, ABC Sunday Shows Don't Cover Attempted Murder Of Supreme Court Justice.
- Xi Widens Legal Basis For PLA Troop Deployments Amid Soaring Taiwan Tensions.
- Ohio Passes New Law To Expedite Armed Teacher Training To Harden Schools.
- US Official Admits Russian Energy Sales Outpacing Pre-War Levels.
- Pelosi's Court: How The Jan. 6 Committee Undermined Its Own Legitimacy.
- Carnage!
- Over Twenty Million Households Struggle To Pay Energy Bills, It Will Get Worse.
- Trucker Strike In South Korea Sparks Economic Turmoil, Risks Global Spillover.
- On the MOVE.
- Stocks and bonds sold off amid ongoing inflation woes - Newsquawk Asia-Pac Market Open.
- JPMorgan Now Sees Fed Hiking 75bps On Wednesday, Sees "Risk" Of 100bps.
- Scramble for Dollars as Stocks, Bonds, and Beyond Crater - Newsquawk US Market Wrap.
- Snyder: The Worst Economic Gloom In 50 Years.
- "Panic": Yields Soar After WSJ "Fed Leaker" Says Odds Rising Of 75bps Rate Hike.
Newsmax:
TheGatewayPundit.com:
- President Trump Predicted All of What We’re Seeing Today from the Biden Administration Before It Happened (VIDEO).
- Hey, Bill Barr!… BREAKING: Surveillance Video Shows Man Wearing Street Clothes Exiting Passenger Seat of Post Office Truck In Detroit…Dumps Stack of Ballots In Dropbox TWICE! [VIDEO].
- Illegal Aliens Set to Receive Driver’s Licenses in Massachusetts After State Legislature Overrides Governor’s Veto – 17 States Now Allow Illegals to Get Gov’t Issued Photo ID.
- Police Shoot and Kill Gunman at Texas Summer Camp Who Fired into Locked Classroom with Kids Inside.
- JUST IN: Napa County Authorities Release Paul Pelosi Mugshot After DUI Arrest.
- They Don’t Care About America’s Starving Babies: Bumbling Biden Press Secretary Has No Answer When Asked About Update on Resolving Infant Formula Shortages.
- Flashback: Former AG Barr Shut Down Investigations into a Trailer Load of 288,000 Ballots into PA from New York in 2020 Election – Barr Refused to Provide Whistleblower Protection – Now the USPS Won’t Provide Investigation Report – What Gives?
- Christina Aguilera Wears Green Rhinestone Strap-On While Performing at LA’s All-Ages ‘Pride in the Park’ (VIDEOS).
- Bidenomics: Gas Prices Hit ANOTHER All-Time High on Monday at $5.014/Gallon — 33rd All-Time Record in the Last 35 Days and STILL CLIMBING.
- Here We Go: Canada to Introduce a Mandatory Monkeypox Quarantine – Cities Are Now Offering Vaccination.
- JUST IN: Triple Vaxxed Canadian Prime Minister Justin Trudeau Infected with Covid… AGAIN.
- YouTube Stars Are Beginning To Turn On Biden, Showing A Younger Generation Is Fed Up With His Poor Leadership.
- The Number Of Transgender Youth Is On The Rise, Mostly Youth In Democrat Led States.
The Epoch Times:
- EXCLUSIVE: Arizona Election Worker Details Voter Fraud Investigation.
- High Gas Prices an Indictment of Recent Energy Policy High Gas Prices an Indictment of Recent Energy Policy.
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 829,308 Reports(+3,855 from prior week) Through June 3rd, 2022.
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.
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).
Night Trading
Morning Preview Links
Earnings of Note
Company/Estimate
- Asian equity indices are -3.0% to -2.0% on average.
- Asia Ex-Japan Investment Grade CDS Index 134.0 +16.75 basis points.
- China Sovereign CDS 86.75 +10.5 basis points.
- Bloomberg Emerging Markets Currency Index 50.61 -.04%.
- Bloomberg Global Risk-On/Risk Off Index 4,610.0 +27.0 points.
- Volatility Index(VIX) futures 32.7 -.74%.
- Euro Stoxx 50 futures n/a.
- S&P 500 futures +.39%.
- NASDAQ 100 futures +.56%.
Earnings of Note
Company/Estimate
Before the Open:
- None of note
After the Close:
- None of note
Economic Releases
6:00 am EST
- The NFIB Small Business Optimism Index for May is estimated to fall to 93.0 versus 93.2 in April.
8:30 am EST
- PPI Final Demand MoM for May is estimated to rise +.8% versus a +.5% gain in April.
- PPI Ex Food and Energy MoM for May is estimated to rise +.6% versus a +.4% gain in April.
Upcoming Splits
- None of note
Other Potential Market Movers
- The Japan Industrial Production report, German ZEW Index, weekly US retail sales reports, Deutsche Bank Auto Industry Conference, CSFB Communications Conference, Oppenheimer Consumer Growth/E-Commerce Conference, Deutsche Bank Consumer Conference, (ANF) investor day, (SNOW) investor day and the RBC Fin Tech Conference could also impact global trading today.
- 9:30 am - 4:00 pm EST