Today's Headlines

Bloomberg:    

• There’s No Escaping Soaring Food Prices for UK Shoppers.
• Mexico’s Largest Refinery Is Now Open. It’s Just Not Making Any Fuel.   
• Hong Kong Stock Market Sees Uncertain Future as China Sway Grows.
  
• Germany Risks a Cascade of Utility Failures, Economy Chief Says.
  
• Recession Unease Sends Pound Crashing to Worst Quarter Since ‘08.
  
• The Great European Energy Market Bailout Is Only Getting Started.
• World’s 6th Biggest Economy Hit By EM Investor Exodus.
• JPMorgan’s Aronov Ignores the ‘Cash Is Trash’ Chorus: Q&A.    
• Surprise Tropical Storm Colin Brings Rain to South Carolina.
• The Worst Stock Selloff In Half a Century Might Not Be Done Yet.
• MicroStrategy’s Bitcoin Holdings Take a Record $3.4 Billion Hit.  
• US Jobs Report Seen Showing Resilient Labor Demand: Eco Week.  
• Charting the Global Economy: Factories Slow Down From US to Asia.

Wall Street Journal:

• Markets Had a Bad First Half of 2022. It Can Get Worse.
• Tesla Vehicle Deliveries Tumble After China Factory Shutdown.
• Biden Administration Weighs Move to Trim Mortgage Costs.
• Crypto’s Domino Effect Is Widening.
• A Warning From Australia’s Power Crisis. Green mandates cause shortages, as Canberra takes over the electricity market.

Barron's:

• Had bullish commentary on (IJR), (CHWY) and (AAP).
• Had bearish commentary on (AAPL), (CSCO), (HPE), (AKAM), (ANET) and (HPQ).

Fox News:

• Prominent liberals on Twitter and pundits renounce Independence Day: 'Burn country to godd--- ground'.
• TRUE COLORS: Democrats promote 'f--- the 4th' event as Americans celebrate holiday.
• Multiple people dead after car plows into fireworks stand in 'major crash scene'.

CNBC:

• Bitcoin just had its worst quarter in more than a decade. Here are 5 reasons why.
• Russia’s messages with missiles tell West to back off.

Zero Hedge:

• Rep. Stefanik Introduces Bill To Prevent Adversaries' Control Over US Agriculture Industry
• Mystery Surrounds Intensifying 'Earthquake Swarm' Shaking South Carolina.
• California Gives Free Healthcare To Illegal Immigrants.
• Some Cities Cancel July 4 Fireworks Because Of Shortages And Fire Concerns 
• 86% Of Recent Student Loan Borrowers Banked On Biden Bailout.
• How Public Pensions Turn Cities Into Unlivable Hellholes.
• CNN's New Boss Fails To Halt Plummeting Ratings.
• Several NYC Election Sites Had 'No Republican Ballots' During Last Week's Primary.
• Over 400,000 High-Priority Incidents In Chicago In 2021 Had 'No Police Available To Send', New Data Shows.
• SCOTUS To Hear Case That Could Give State Legislatures, Not Judges, Power to Regulate Elections.
• Tesla Delivered Only 254,695 Vehicles For Q2, But Posted A Record Production Month In June. 
• Recession Risks. Are They Already Priced In?
• Bill Gates Granted Authority To Buy 2100 More Acres Of North Dakota Farmland.
• Delta Offered $10,000 To Flyers Willing To Give Up Seats On Oversold Flight.
• Russia Now Demands Rubles For Grain As World's Largest Wheat Exporter.
• Anatomy Of A Bear Market: Even The Fed Can't Rescue Market If Earnings Tank.
• Some MOVEs are "unstoppable"...
• Author Matt Palumbo Lays Out How George Soros Has Significant Control Over Media Narratives.
• The Insufferable Arrogance Of The Constantly Wrong.

MarketWatch.com:     

• These dividend stocks yield at least 5% and have plenty of room to raise payouts.
  
• This veteran money manager has seen it all. And these 19 dividend stocks pass his rigorous quality screen right now.

NewsMax:

• Germans Warned on Natural Gas Shortage Due to Russia.
• Rep. Mullin: Biden 'Trying to Finish' Obama Fossil Fuel Attack.
• Rep. Tenney: Hearings Attempting to Destroy Trump in '24.

TheGatewayPundit.com:

• Biden Blocks Offshore Drilling, Limiting Oil Production After Begging Oil Companies To Produce More and Attacking Gas Stations. 
• HERE THEY ARE: “Surprise Witness” Cassidy Hutchinson’s NINE Confirmed Lies from Her Debunked Congressional Testimony Against Trump.
• July 4th Weekend “Airmageddon”: 600 Flights Canceled, 2800 Are Delayed as of Saturday Afternoon.
• It’s All Going Woke As The National Archives Says The U.S. Constitution Has ‘Harmful Language’.
• No Federal Training for 40,000 Unvaccinated Members of the Army National Guard After Deadline – May Face Possible Expulsion.
• It’s Official: Gender Fluid Drag Queen Into Kinks Related to Animal Role-Playing Now Serves in Biden’s Energy Department’s Office of Nuclear Energy.
• Pima County Arizona Democratic Party: “F*ck the 4th”.
• Bank of America Issues Chilling Forecast: No GDP Growth.
• White Failed CNN Host Says Clarence Thomas Isn’t Truly Black Because He Doesn’t Go to NBA Games.
• Liberals Mad At DeSantis Again: This Time For Making Sure Florida Teaches Real American History.
• Biden’s Supply Chain Failures Are Impacting America’s Pets.
• Fireworks Shows Cancelled or Rescheduled Across Country – Biden Cancels Mount Rushmore Fireworks Again.
• Biden Gives Away More Of Your Money To The Proxy War In Ukraine, Nearly $63 Billion Now.
• Another Raffensperger Special! — Emerald Robinson on Mark Zuckerberg’s Political Operative’s Unbelievable Victory in the Colorado GOP Secretary of State Primary.

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 835,062 Reports(+2,129 from prior week) Through June 24th, 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).

Evening Headlines

Bloomberg:

• JPMorgan Sees ‘Stratospheric’ $380 Oil on Worst-Case Russian Cut.
• Rattled Stock Bulls Keep Paying Punishing Price for Hopefulness.
• El-Erian Says Receding Liquidity Is Biggest Risk to Markets.  
• Crypto’s Brutal Week Ends With a Trading Halt and a Bailout.
• Oil Ekes Out a Weekly Gain Amid Libya and Ecuador Export Woes.
  
• Meta to Shut Down Novi Service in September in Crypto Winter.  
• Chipmakers’ Struggles Have Wall Street Worried About a Recession.  
• Startups to Face ‘Hard Times’ After Market’s Plunge, Gao Says.  
• Toronto-Dominion Bank Explores Takeover of US Brokerage Cowen.  
• Home Sellers Are Slashing Prices in Sudden Halt to Pandemic Boom.  
• Car Sales in the US Slow on Rising Sticker Prices and Scant Supplies.  
• JPMorgan Cuts US Economic Growth Forecasts ‘Perilously Close’ to Recession.

Wall Street Journal:

• Airport Delays, Cancellations Build as Holiday Weekend Starts.
• Killing the Filibuster Is on the Ballot. If the Senate’s 60-vote rule goes for abortion, it goes for everything.
• McDonald’s Dollar Drinks Fade in the Face of Inflation.

Fox News:

• Democrats spark outrage on social media with explicit tweet about 'mourning' on America's birthday.
• US may soon have new murder capital as crime plagues Democrat-run cities.
• Gutfeld: Biden official's 'liberal world order' remark one of the biggest reveals.
  

CNBC:

• Atlanta Fed GDP tracker shows the U.S. economy is likely in a recession.
• Google says it will delete location history for visits to abortion clinics.
• A massive pile-up of car, furniture exports bound for U.S. is spreading across European ports.
• Major crypto broker Voyager Digital suspends all trading, deposits and withdrawals.
• How inflation will affect Apple.
• TikTok tells U.S. senators it’s working to stop user data from being accessible to Chinese employees.

Zero Hedge:

• Welcome To The Biden Recession.
• Friday Humor: Babylon Bee Exposes "100% True Facts" About Scary Guns.
• Press Corps Blasts "Continued Efforts To Limit Access To The President" By The White House.
• "It Is Very Serious": War And Weather Threaten To Send Food Prices Even Higher.
• DucDucLow: US Oil Drillers Are Running Out Of Spare Wells.
• California Trucking Prepares For "Radically New World" Under Independent Contractor Law AB5.
• JPM Warns US "Perilously Close To Recession" As Atlanta Fed Slashes Q2 GDP To -2.1%.
• "Worst Start Since 1788": A Closer Look At The Catastrophic First Half Performance.
• Flight Delay Chaos Begins As Delta Pilots Warn Of "Perfect Storm".
• Apple Top Insider Trading Lawyer Pleads Guilty To Insider Trading.
• Putin & Modi Hold Warm Phone Call As India Gorges On Cheap Russian Oil.
• Official Cause Of Death Confirmed for 3 Americans Found Dead At Bahamas Resort.
• Biden Admin Halts 2nd Largest US LNG Plant From Restarting Operations After Blast.
• New Disney Show Accused Of Indoctrinating Kids To Think That Men, Too, Can Get A Period.
• AOC Accuses Supreme Court Of A "Coup" And Calls For It To Be "Done Away With".
• Growth concerns linger into long-weekend after soft ISM, but stocks rally anyway - Newsquawk US Market Wrap.
• Inflation 'Off', Recession 'On': Stocks Purged As Bonds & The Dollar Surged.

MarketWatch.com:         

• The Dow booked its worst first half since 1962. What history says about the path ahead this year.  
• First Wall Street bank to call a U.S. recession now sees chance that inflation fails to decelerate.

NewsMax:

• Rep. Buck: Dems Use Abortion as Distraction.

TheGatewayPundit.com:

• Travel Hell: Hundreds of Flights Cancelled Across US as Industry Braces For July 4 “Airmageddon”.
• BOMBSHELL: Recent Conference Uncovered Between Government Entities (FBI, DOJ, CISA, and EAC) with Liberal Groups (ERIC, CTCL and Elections Group) and Corporations Like Microsoft – What’s Going On?
• Pima County Arizona Democratic Party: “F*ck the 4th”.
• “One of Worst Downturns in Recent History” – Zuckerberg Tells Employees He’s “Turning Up the Heat” as Facebook Braces For Massive Layoffs Amid “One of the Worst Economic Downturns in Recent History”.
• Biden Hits New Poll Lows: Gallup: 87 Percent Wrong Track; CIVIQS: 31 Percent Approval; Independents: 19 Percent Approval; Emerson: Trump Beating Biden by Five.
• Here We Go: NIH Begins Testing Phase I Clinical Trial of Universal Flu Vaccine.
• They’re Not Laughing Now: Wood-burning Stoves and Firewood in Short Supply in Germany as Citizens Fear Freezing to Death Due to Gas Shortages.
• This Is Your Future Under the “Liberal World Order” — Gas and Food Prices Soar Under Joe Biden and The Regime Admits It’s on Purpose.

The Epoch Times:

• Chinese Stock Markets Plunge as Xi Calls for Sticking to ‘Zero-COVID’ Policy.
• Peter Thiel’s New Venture Aims to Lure Companies Away From Environmental Justice Activism.

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 835,062 Reports(+3,252 from prior week) Through June 17th, 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).

Friday Watch

Evening Headlines

Bloomberg:                

• Germany Risks ‘Imminent’ Recession on Gas Cutoff, Deutsche Bank Says.
• Hong Kong Marks 25 Years of Chinese Rule.    
• Colombia Raises Rates by 150 Basis Points in Test for Petro.
• What the Falling Yen Means for Japan’s Trade Partners.
• Stocks Set for Cautious Asia Open Amid Bond Rally: Markets Wrap. 
• Oil Posts First Monthly Drop This Year as OPEC+ Hikes Supply.
• Metals Cap Worst Quarter Since 2008 on Global Downturn Angst.
• Bears Picked Right Stocks to Short With Declines Twice the S&P’s.
  
• JPMorgan’s Michele Warns on Recession as Brutal First Half Draws to End.
  
• Michael Burry Thinks We May Be About Halfway Through Market Fall.  
• Celsius Says Its Exploring Strategic Transactions, Restructuring.

Wall Street Journal:

• High Court Limits EPA on Emissions.
• Investors gird for more volatility after a bruising start to 2022
• Crypto Investors Wonder What Else Could Go Wrong.
• Growth Fears Challenge Soaring Oil Prices.
• Cooling Consumer Spending Points to Further Economic Slowdown.
• Tencent, ByteDance Implement Fresh Layoffs Amid China’s Economic Pains.

Fox News:

• New poll reveals which political party is the most patriotic, but national pride sees dramatic downturn.

CNBC.com:

• The market’s worst first half in 50 years has all come down to one thing.
• Big technology stocks like Tesla, Amazon and Microsoft just finished their worst quarter in years.
• Internal Facebook memo warns company must be disciplined, prioritize ruthlessly.
• Micron warns weakening consumer demand will hurt smartphone sales.
• Bitcoin just had its worst month on record.

Zero Hedge:

• The Fed Is Quietly Handing Out $250 Million To A Handful Of Happy Recipients Every Single Day.
• Chip Makers Stall On Building New Semiconductor Plants As Subsidies Bill Languishes.
• "Children Cannot Consent": Teen Who Had Double Mastectomy Regrets 'Gender Journey'.
• Four Men Charged After 53 Migrants Die In Smuggling Disaster.
• DOJ Has VA Suspend All Benefits Of Jan. 6 Prisoner.
• The One Housing Chart That Shows A 'Buyer's Market' Has Returned.
• Still buying the dip?
• Nvidia GPU Prices Plummet As Crypto Mining Craters.
• California Just Leaked The Name, Address Of Every Concealed Carry Licensee In The State.
• States Need To Avoid 'Cures' That Can Make Inflation Worse.
• S&P 500 suffered its worst H1 performance since 1970 - Newsquawk Asia-Pac Market Open.
• Biden & G-7 Push World Into "Nightmare Scenario".
• Tesla's Texas Gigafactory Reportedly Outputting 5,000 Vehicles Per Week.
• S&P 500 posts worst half-year since 1970 as recession fears mount - Newsquawk US Market Wrap.
• The Jaws Of Trade Squeezing The Supply Chain.
• The Astonishing Implications Of Schedule F.
• Micron Plunges After Catastrophic Guidance Confirms Worst Fears.
• First-Half FUBAR: Stocks Worst In 60 Years, Bonds & Bitcoin Worst Ever.

TheGatewayPundit.com:

• WOW! Joe Biden Confronted on 85% Wrong-Track Number, Record Inflation — Blames US Supreme Court (VIDEO).
• Biden Takes Aim at America’s Largest Oil Field, Threatens to Stop Production, Sending Gas Prices Soaring.
• Abraham Lincoln Bust, Gettysburg Address Plaque Removed From Cornell University Library Because Someone Complained.
• Steve Bannon and The War Room Call for Criminal Referrals Against Cassidy Hutchinson for Numerous Lies During Congressional Testimony (VIDEO).
• Dr. Zev Zelenko Who Saved Thousands of Lives During the COVID Pandemic – Passes Away After Long Battle with Cancer.
• Unhinged Climate Activists Glue Their Hands on Van Gogh Painting in London to Protest Global Warming.
• AOC Calls For Supreme Court to be Abolished After High Court Constrains EPA’s Power to Regulate Greenhouse Gases.

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 835,062 Reports(+3,252 from prior week) Through June 17th, 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 

• Asian equity indices are unch. to +.5% on average.

• Asia Ex-Japan Investment Grade CDS Index 143.75 +7.0 basis points. 

• China Sovereign CDS 85.25 +2.75 basis points.
  

• Bloomberg Emerging Markets Currency Index 50.66 -.08%.  
• Bloomberg Global Risk-On/Risk Off Index 4,509.0 +310.0 points.
• Volatility Index(VIX) futures 29.3 +.4%.
• Euro Stoxx 50 futures +.41%.

• S&P 500 futures -.05%.

• NASDAQ 100 futures +.02%. 

Morning Preview Links

Earnings of Note 
Company/Estimate 

 

Before the Open: 

• None of note
  

After the Close:

• None of note
  

Economic Releases

10:00 am EST

• Construction Spending MoM for May is estimated to rise +.4% versus a +.2% gain in April.
• ISM Manufacturing for June is estimated to fall to 54.5 versus 56.1 in May.
• ISM Prices Paid for June is estimated to fall to 79.9 versus 82.2 in May.
  

Afternoon:

• Wards Total Vehicle Sales for June is estimated to rise to 13.3M versus 12.68M in May.

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The China Manufacturing PMI report and the Eurozone PMI report could also impact global trading today.

US Equity Market Hours

• 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 mixed and to weaken into the afternoon, finishing modestly lower. The Portfolio is 25% net long heading into the day.

Stocks Finish Lower on US Policy-Induced Stagflation Fears, Earnings Outlook Worries, Technical Selling, Commodity/Retail Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Substantially Lower
  

• Sector Performance:  Most Sectors Declining
  

• Volume:  Around Average

• Market Leading Stocks: Underperforming
  

Equity Investor Angst:

• Volatility(VIX) 28.7 +2.1%
• DJIA Intraday % Swing 1.22% +46.4%
  
• Bloomberg Global Risk On/Risk Off Index 4,315.0 -227.0 points

• Euro/Yen Carry Return Index 146.14 -.43%

• Emerging Markets Currency Volatility(VXY) 11.9 +.2%

• CBOE S&P 500 Implied Correlation Index 48.1 +.6% 

• ISE Sentiment Index 92.0 +12.0 points
  

• Total Put/Call .90 -27.4%

• NYSE Arms 2.2 +40.5%

Credit Investor Angst:

• North American Investment Grade CDS Index 100.72 +.7%
  

• US Energy High-Yield OAS 524.23 +5.5%
• Bloomberg TRACE # Distressed Bonds Traded 465.0 +44.0
  

• European Financial Sector CDS Index 128.70 +.95%

• Italian/German 10Y Yld Spread 193.0 basis points +5.0 basis points
  

• Asia Ex-Japan Investment Grade CDS Index 141.79 +4.9%
  

• Emerging Market CDS Index 338.70 +.3%
  

• China Corp. High-Yield Bond USD ETF(KHYB) 27.31 -.17%
  
• Ukraine Sovereign Debt Credit Default Swap 9,415.27 -.4%
  

• 2-Year Swap Spread 32.75 basis points -2.5 basis points
  

• TED Spread 54.25 basis points +5.0 basis points
  

• 3-Month EUR/USD Cross-Currency Basis Swap -26.5 basis points -1.0 basis points
  
• MBS  5/10 Treasury Spread  136.0 -1.0 basis point
  
• iShares CMBS ETF 48.19 +.63%
  

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 50.71 -.47%
• 3-Month T-Bill Yield 1.64% -8.0 basis points
  

• Yield Curve 4.5 basis points (2s/10s) +1.25 basis points
  

• China Iron Ore Spot 115.3 USD/Metric Tonne -5.2%

• Citi US Economic Surprise Index -71.6 -3.3 points

• Citi Eurozone Economic Surprise Index -25.3 -8.4 points
  

• Citi Emerging Markets Economic Surprise Index 28.5 +5.5 points

• 10-Year TIPS Spread 2.35 -4.0 basis points
  
• Highest target rate probability for September 21st FOMC meeting: 68.5%(+2.3 percentage points) chance of 2.75%-3.0%. Highest target rate probability for November 2nd meeting: 49.1%(+14.3 percentage points) chance of 3.0%-3.25%.
  

US Covid-19:

• 214 new infections/100K people(last 7 days total). 13.0%(-1.0 percentage point) of 1/14 peak -22/100K people from prior report.
  
• New Covid-19 patient hospital admissions per 100K population -77.3%(-.1 percentage point) from peak 7-day avg. of 1/9/21 - 1/15/22
  

Overseas Futures:

• Nikkei 225 Futures: Indicating -13 open in Japan 
• China A50 Futures: Indicating -40 open in China

• DAX Futures: Indicating +6 open in Germany

Portfolio:

• Slightly Lower:  On losses in my in my medical/tech/commodity sector longs
  

• Disclosed Trades:  Added to my (IWM)/(QQQ) hedges
  

• Market Exposure:  Moved to 25% Net Long
  

Mid-Day Market Internals

NYSE Composite Index:

• Volume Running -8.3% Below 100-Day Average 
• 9 Sectors Declining, 2 Sectors Rising
• 38.3% of Issues Advancing, 57.9% Declining
• 8 New 52-Week Highs, 265 New Lows
• 20.5% of Issues Above 200-day Moving Average
• Average 14-Day RSI 41.1% 
• Bloomberg Global Risk-On/Risk-Off Index 4,077.0 -464.0 points
• Russell 1000: Growth/Value 15,112.0 -.39%
  
• Vix 29.4 +4.4%
• Total Put/Call .96 -22.6%
• TRIN/Arms 1.85 +19.6%