Evening Headlines
Bloomberg:
- Qantas Slashes Flights in Australia as Rising Oil Prices Bite.
- Australia Bonds Extend Rally for Biggest Weekly Gain in a Decade.
- Recession Fears Sink Canadian Banks Into 20% Drop From High.
- Mexico Delivers Record Rate Hike, Says More Increases Coming.
- Stocks Set for Steady Asia Open Amid Bond Rally: Markets Wrap.
- World’s Most Watched Oil Data Won’t Be Released This Week.
- N.Y. Among Blue States Seeking Gun Limits to Blunt Court Ruling.
- Smith & Wesson Leads Rally in Gun Stocks After N.Y. Ruling.
- Analysts Are Very Sure of Profit Estimates Everyone Else Hates.
- ‘Coast to Coast’ Housing Correction Is Coming, Says Moody’s Chief Economist.
- Wall Street South Gets Biggest Win in Griffin’s Grand Miami Plan.
- Citadel Move Is 'Punch in the Gut' for Chicago.
- S&P 500 May Have Another 24% to Fall, 150 Years of Market History Shows.
- Steel Pipes for Drilling Oil Are the New Semiconductors.
- Powell Pressed Over How Fed Would Respond to Economic Slowdown.
- Fed Stress Test Finds Big Banks Can Weather Severe Recession.
- Fed Official Calls for Aggressive Rate Hikes.
- The Supreme Court Vindicates the Second Amendment. A 6-3 majority recognizes a right to carry guns in public for self-defense.
- McDonald’s Tightens Ownership Rules as It Seeks New Franchisees.
- U.S., European Economies Slow Sharply as Recession Risks Grow.
- Germany Looks at Potential Rationing of Natural Gas After Russia Cuts Supply.
- What to Know Before Flying This Summer as Cancellations and Delays Mount.
Fox News:
- Social media erupts over liberal governor's fiery reaction to Supreme Court's landmark ruling on guns.
- Nancy Pelosi's husband charged with DUI weeks after Napa car crash.
- FANCY NANCY: Bombshell report exposes Pelosi's lavish lifestyle, husband's troubled history.
CNBC.com:
- European leaders formally accept Ukraine as a candidate to join the EU.
- Intel warns Ohio factory could be delayed because Congress is dragging its feet on funding.
- Fanatics is in talks to buy sports betting company Tipico, sources say.
- Stocks making the biggest moves after hours: FedEx, Sarepta Therapeutics and more.
- You shouldn’t trust the stock-market bounce until the S&P 500 is back above 3,800, analysts say.
- Energy ETFs are the unloved relative to ‘outstanding’ gains as growth bets in stock market head for worst first half ever.
- The S&P 500 could slide another 33% in a ’70s-style inflation environment: Société Générale.
- Ray Dalio’s Bridgewater increases short bets against Europe stocks.
- Inflation is ‘eroding the comfort level’ Americans have about their cash savings.
- These ‘zombie’ companies could feel the cash burn, warns New Constructs.
Zero Hedge:
- Police Department Shows Off 'Pride Cruiser' Which Encourages People To "Report Hate Crimes".
- What Is Stagflation And Why Has The Establishment Been In Denial About It?
- "I Don't Believe In Censoring Art": Paramount CEO Rejects Trigger Warnings.
- Tata Technologies' CEO Puts India In The Semiconductor Spotlight.
- United Airlines Cuts 12% Of Newark Flights To Reduce Delays.
- Nikola's Trevor Milton Faces New Fraud Charge Related To Purchase Of A Utah Ranch Using Stock.
- This Is Not The Time To Exit Commodities, Recession Or Not.
- "Chicago Is Like Afghanistan": Ken Griffin Is Moving Citadel To Miami, Leaving Chicago Crime Cesspool Behind.
- China Faces Power Shortage As Heatwave Pushes Demand To Record.
- US stocks bounced back from disappointing PMIs as yields and commodity prices declined - Newsquawk Asia-Pac Market Open.
- Ukraine Granted EU Candidate Status As US Provides Another $450 Million In Military Aid.
- Food Inflation Is The Litmus Test.
- All 33 Banks Pass Fed Stress-Test, Setting Stage For Billions In Buybacks.
- Global PMI misses see bonds and havens bid and cyclicals shunned - Newsquawk US Market Wrap.
- At The Military Olympics, October 2019, Wuhan, China, Athletes Caught COVID.
- Stocks & Bonds Surge As Recession Fears Tank Rate-Hike Odds.
Newsmax:
TheGatewayPundit.com:
- Maricopa County Republican Committee Executive Board To Reject 2020 Presidential Election After Election Audit and “2000 Mules” Documentary.
- Day Before J6 Committee Hearing, FBI Agents Raid Home of Trump DOJ Official Jeffrey Clark in Pre-Dawn Raid –Forced into Street in His Pajamas.
- “Is That the Choice? $5 a Gallon Gas or a $61,000 Electric Car?” – Peter Doocy Spars with Karine Jean-Pierre Over Biden’s Insane Policies (VIDEO).
- Courts Seal Records Of Former Clinton Aide And Epstein Associate Who Committed Suicide
- The Biden Administration Plans To Allow Boys In Girls Bathrooms And Locker Rooms Under Title IX Revision.
- North Dakota Attorney General Sounds Alarm On Bill Gates Buying Massive Amounts Of Farmland.
- Interactive Map Details Destruction of Numerous US Food Manufacturing Plants, Grocery Stores, etc. — Compares US Incidents to Global Trends.
- WATCH: Here is 12 Minutes of Democrats Denying Election Results – Sore Loser Hillary Clinton is the Worst Offender!
The Epoch Times:
- Bank Runs Across China Trigger Complaints About Obtaining Cash.
- Critical Race Theory is Part of Globalist Power Grab: Expert.
- US Needs to Decouple From China: Expert.
- VAERS US COVID Vaccine Adverse Event Reports. 831,800 Reports(+2,492 from prior week) Through June 10th, 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 -.25% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 136.25 +.25 basis point.
- China Sovereign CDS 81.75 unch.
- Bloomberg Emerging Markets Currency Index 50.42 -.04%.
- Bloomberg Global Risk-On/Risk Off Index 4,574.0 +258.0 points.
- Volatility Index(VIX) futures 29.0 -.03%.
- Euro Stoxx 50 futures +.15%.
- S&P 500 futures -.18%.
- NASDAQ 100 futures -.11%.
Earnings of Note
Company/Estimate
Before the Open:
- (KMX)/1.55
- (CCL)/-1.14
After the Close:
- None of note
Economic Releases
10:00 am EST
- New Home Sales for May is estimated to fall to 590K versus 591K in April.
Upcoming Splits
- None of note
Other Potential Market Movers
- The Fed's Bullard speaking, Fed's Daly speaking, German IFO Guidance and the (CCL) business update could also impact global trading today.
- 9:30 am - 4:00 pm EST