Today's Headlines
Bloomberg:
- French Minister Says Russian Gas Cutoff Most Likely Scenario.
- Almost 4.5 Million UK Families are in Serious Financial Trouble.
- Europe’s Rush to Buy Africa’s Natural Gas Draws Cries of Hypocrisy.
- China Stimulus Unlikely to Reverse Global Metals Meltdown.
- China’s Bumper Data Week Will Set Tone for Economic Stimulus.
- Chinese Bank Depositors Face Police in Angry Protest.
- Biden’s Quest for Saudi Oil Faces Reality-Check of Slim Capacity.
- Biden-Xi Call Likely to Take Place in Coming Weeks, Blinken Says.
- Blinken Blasts China’s Support for Russia, Calls Out Xi.
- Rice Faces Squeeze on Higher Fertilizer Costs and Booming Demand.
- Canada Will Return Sanctioned Nord Stream Turbine to Germany.
- Japan Ruling Bloc Easily Wins Vote Held Days After Abe’s Murder.
- Biden Says No Decision Made on Rolling Back China Import Tariffs.
- US Futures, Oil Dip; Stocks Set for Cautious Open: Markets Wrap.
- Oil Dips at Start of Week as Economic Slowdown Hangs Over Market.
- Is a Recession Coming? Investors Turn to Earnings for Clues.
- Bitcoin Is More Likely to Hit $10,000 Than $30,000, Survey Finds.
- Five Things You Need to Know to Start Your Day.
Wall Street Journal:
- For the Fed, Easing Too Soon Risks Repeat of Stop-and-Go 1970s. While markets have rallied on expectations central bank will respond to recession risk, that might not be enough if inflation is stubborn.
- Sri Lankan President to Resign as Protesters Storm Residence.
- Sri Lanka Crisis Flashes Warning for Other Indebted Economies.
- Stocks Face Test as Inflation Looms Over Earnings Season.
- Tech’s Red-Hot Hiring Spree Shows Signs of Cooling.
- Manufacturers Brace for Nord Stream Repairs, Fearing Pipeline Won’t Reopen.
- Fed Up With China, One Boss Tries Removing It From the Supply Chain.
- Freight Rates Are Starting to Fall as Shipping Demand Wavers.
- Reddit Traders Haven't Given Up On GameStop. Neither Have Short Sellers.
- Abe’s Goal of Revising Japan Constitution Moves Closer After Party’s Election Victory.
- Congress to Juggle China Bill, Democrats’ Climate and Drug-Pricing Ambitions.
- WATCH: Biden voters regret backing the President as inflation surges, 'Marxist' policies take toll.
- Biden 'surrendered energy independence on day one' and made US more vulnerable, says former Home Depot CEO.
- Hundreds of state workers resign over return-to-office policy.
- Economist issues ominous warning to Americans about upcoming inflation numbers.
- New poll shows inflation ranks as biggest concern to Americans over abortion, guns.
CNBC:
- How much money it takes to be ‘financially comfortable’ in 12 major U.S. cities.
- Another hot inflation report and the start of earnings season make for a challenging week ahead.
- Top Wall Street analysts say these stocks have the best long-term value.
- Sri Lanka opposition hopes to install new government amid turmoil.
- ‘Thor: Love and Thunder’ pulls in $143 million in domestic opening.
- Biden says he’s mulling health emergency for abortion access.
Zero Hedge:
- Chinese Bank Run Turns Violent After Angry Crowd Storms Bank of China Branch Over Frozen Deposits.
- French, German Leaders Warn Populations "Prepare For Total Cut-Off Of Russian Gas" As Social Unrest Looms.
- Red States Chart Faster Economic Recovery Than Blue States.
- Housing Crisis Worsens As Affordability Reaches Record Low.
- Biden’s Selling Of Oil From Reserve To Hunter Biden-Tied Chinese Firm 'Impeachable': Republicans.
- Tyranny On Autopilot: LA County Set To Resume Mask Mandate.
- Knives Out: WaPo, NYT Go For Biden Blood In Scathing Moment Of Honesty.
- The Façade Of California's Economy Is About To Crumble.
- Army General Suspended Over Tweet To Jill Biden: "Glad You Finally Know What A Woman Is".
- Explosion Rocks Oklahoma Natural Gas Plant.
- 'Rationality Itself Is Under Attack': CEO Of The Babylon Bee.
- Morgan Stanley: Soaring Dollar Will Crush Earnings Growth And Snuff The Rally In Stocks.
- "Your Gas Guzzler Kills" - Radical Climate Group Deflates Bay Area SUV Tires.
- Now An Outbreak Of The Marburg Virus Has Begun.
- Europe's Big And Expensive Energy Mistake.
- New Survey Reveals Significant Doubts About Masks And Vaccines.
- US Senators Meet With Ukrainian President, Discuss Designating Russia As "State Sponsor Of Terrorism"
- Former Federal 'Informant' Warned Of Antifa, BLM Infiltrators At Capitol On Jan. 6.
- Shinzo Abe's Murder Suspect Claims Motive Of His Attack.
- Goldman Trading Desk End-Of-Week Summary: Massive CTA Demand Coming In.
MarketWatch.com:
NewsMax:
- Ben Carson: Learn Lessons From Past COVID Mandates.
- Ukraine: 15 Dead in Rocket Attack on Apartment Building.
- Texas AG Demands Biden Apologize Over Mounted Border Agents Controversy.
TheGatewayPundit.com:
- DC Antifa Group Offering Reward for Locations of Conservative Supreme Court Justices.
- While NATO Maps Out It’s Plans for World War III — Russian State Space Corporation Releases Coordinates of Western Targets and Mock Joe Biden.
- Biden’s Claim Of 10-Year-Old Who Had To Cross State Lines For Abortion Is Called Into Question By Fact-Checkers.
- Zelenskyy Consolidates Ukrainian TV Outlets Into One State Channel After Abolishing Opposition Party and Seizing Its Assets.
- Short Video Clips from President Trump’s Record-Setting Rally in Anchorage, Alaska.
- MUST WATCH: Dr. Discusses New Study That Shows Pfizer’s Covid mRNA Vaccines Can MODIFY DNA in the Human Genome (VIDEO).
- Can’t Make This Up: Pfizer Asks Court to Dismiss Whistleblower Lawsuit.
- BREAKING: TRUMP WAIVES EXECUTIVE PRIVILEGE — Steve Bannon Willing to Testify Before Sham Jan. 6 Committee of “Thugs and Hacks” — IT’S ABOUT TO GET REAL!
- WATCH: Mom Throws Herself on Hood of Car After Carjacker Steals It With Her Children Inside.
- Sen. Ron Johnson: The FBI Had Hunter Biden’s Computer Since Dec. 2019 – They Havent “Done Squat With It” (VIDEO).
- SHOCKING VIDEO: San Francisco Children Get Off Bus in Open Air Drug Market Filled With Homeless Addicts to Get Home From School.
The Epoch Times:
- China’s COVID Lockdowns Inflict ‘Psychological Scars’ and ‘Endless Humiliation’: Shanghai Resident.
- China Is More Likely to Attack India Than Taiwan in Near Future: Author.
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).
- COVID Money Tracker. Tracking the Covid response.
Night Trading
- Asian indices are -.25% to +.75% on average.
- Asia Ex-Japan Investment Grade CDS Index 148.75 -2.75 basis points.
- China Sovereign CDS 80.0 -1.75 basis points.
- Bloomberg Emerging Markets Currency Index 49.0 -.02%.
- Bloomberg Global Risk-On/Risk Off Index 4,741.0 +101.0 points.
- Volatility Index(VIX) futures 27.6 +.6%.
- Euro Stoxx 50 futures n/a.
- S&P 500 futures -.28%.
- NASDAQ 100 futures -.44%.
Earnings of Note
Company/Estimate
Before the Open:
Before the Open:
- (AZZ)/1.01
- (GBX)/.59
After the Close:
- (PEP)/1.74
- (PSMT)/.82
Economic Releases
- None of note
Upcoming Splits
- None of note
- The Japan PPI report and the 3Y T-Note auction could also impact trading today.
- 9:30 am - 4:00 pm EST