NYSE Composite Index:
- Volume Running +42.9% Above 100-Day Average
- Nasdaq/NYSE Volume Ratio 7.1 +4.4
- 1 Sector Declining, 10 Sectors Rising
- 72.7% of Issues Advancing, 24.5% Declining
- 8 New 52-Week Highs, 57 New Lows
- 38.1%(+4.8%) of Issues Above 200-day Moving Average
- Average 14-Day RSI 37.0 +8.0
- Bloomberg Global Risk-On/Risk-Off Index 41.9 -.9%
- Russell 1000: Growth/Value 15,811.1 -1.16%
- Vix 25.1 -1.6%
- Total Put/Call .78 -22.8%
- TRIN/Arms .94 -50.3%
Today's Headlines
Bloomberg:
Wall Street Journal:
Fox News:CNBC:
Zero Hedge:
- Fed Panics, Announces "Coordinated" Daily US Dollar Swap Lines To Ease Banking Crisis.
- UBS
To Buy CS For $3 Billion As AT1 Bonds Get Wiped Out In Record Bail-In;
Swiss Govt Grants CHF9BN Guarantee; SNB Offers $100 Billion Liquidity
Backstop.
- Were The Bank Bailouts The Result Of Rising Wealth Concentration?
- Mike Wilson: "Why On Earth Did US Stocks Rally Last Week?".
- Musk Blasts Biden After Prez Lies Twice About '3% Billionaire Tax'.
- The Longer It Takes The Fed To "Go Big", The Deeper The Damage Will Be, And The Bigger The "Big" Will Be.
- Gold, Stocks, Bonds, & Bitcoin All Higher After Fed, SNB Panic.
- TME Weekend: Not 2011, yet.
- "True Stories... Could Fuel Hesitancy": Stanford Project Worked To Censor Even True Stories On Social Media.
- Weekend News Round Up - Newsquawk Asia-Pac Market Open.
- Liz Warren Makes War On Powell, And How 'Woke' SF Fed Chief Failed On SVB.
- 'Not QE' As Fed Trapped Between A 'Rock And A Hard Place'.
- Leftist Parents Flee Florida As Gender Treatments For Children Made Illegal.
- Mega-cap Tech is the new Safe Haven.
- 'Occupy Wall Street' Redux.
- The Comex Is In Far Worse Shape Than SVB If The Run On Physical Accelerates.
- "The New Normal": New York To Lower Math And English Proficiency Standards Due To Poor Test Result.
- FDIC Prepares To Break Up Silicon Valley Bank, Report Says.
- How The Fed's 2008 Mortgage Experiment Fueled Today's Housing Crisis.
- Florida Beaches Hit With Toxic 'Red Tide' As Giant Seaweed Blob Nears.
- GOP Headed For Showdown On Social Security And Medicare.
- Stoltenberg Vows Sweden 'Will Soon' Join NATO Despite Turkish Rejection.
- SBF, SVB...who is next?
- Oxfam 'Inclusivity' Guide Tells Staff To Avoid Using 'Offensive' Words Like 'Mother', 'People' and 'Headquarters'.
- Is The US Funding An Experiment In Digital Control In Ukraine?
- Watchdog Group Launches Investigation Into Biden’s 'Woke Army'.
- 'Conspiracy At Its Height': Fauci Responds To Message Saying He 'Prompted' Anti-Lab Leak Paper.
- FBI Is Now A 'Weaponized Apparatchik' Of The Presidential Administration: Whistleblower.
- Biden In Touch With Buffett On Bank Crisis.
- GOP Compromise Unintentionally Creates Universal Firearm Background Checks.
MarketWatch.com:
NewsMax:
TheGatewayPundit.com:
Night Trading
- Asian indices are -.5% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 137.0 +2.0 basis points.
- China Sovereign CDS 76.0 unch.
- China Iron Ore Spot 129.50 USD/Metric Tonne -1.0%
- Bloomberg Emerging Markets Currency Index 47.2 +.02%.
- Bloomberg Global Risk-On/Risk Off Index 42.2 +.1%.
- Bloomberg US Financial Conditions Index -1.11 -15.0 basis points.
- Volatility Index(VIX) futures 25.3 -3.2%.
- Euro Stoxx 50 futures +1.1%.
- S&P 500 futures +.73%.
- NASDAQ 100 futures +.59%.
BOTTOM LINE: Asian indices are mostly lower, weighed down by commodity and consumer shares in the region. I expect US stocks to open modestly higher and to maintain gains into the afternoon. The Portfolio is 50% net long heading into the week.
Bloomberg:
- Had bullish commentary on (GEHC), (HBAN), (BAC), (JPM), (FITB), (KEY), (MTB), (PNC), (RF) and (USB).
Fox News:
CNBC:
Zero Hedge:
MarketWatch.com:
NewsMax:
TheGatewayPundit.com:
Bloomberg: Fox News:
CNBC:
Zero Hedge:
- USVI Lawsuit Makes Stunning Allegation: Jamie Dimon 'Knew In 2008' That Jeffrey Epstein Was Sex Trafficker.
- "The Fed Is Broke" - Gundlach Likes Gold, Fears "Expanding Wars" Most.
- A Haunting Anniversary - '15 Days To Slow The Spread'.
- Japan, South Korea Are Rebuilding Military Ties, With US Backing.
- Xi To Arrive In Moscow Monday, Ukraine War 'Core Part' Of Talks With Putin.
- The Fed Just Hijacked American Democracy.
- JPM: As Bank Run Drains $550 Billion In Deposits In One Week, QT Is Essentially Over.
- Slovakia Next To Announce Jet Transfer To Ukraine, Coordinating With Poland.
- UBS Reportedly In Talks to Acquire Credit Suisse.
- Investigations Accuse Family Court Judges Of Sending Children Into Danger.
- First Republic Bank Shares Crash To Record Low On Share-Sale Report.
- Goldman:
Small, Medium Banks Account For 50% Of C&I Lending, 45% Of Consumer
Lending And 80% Of All Commercial Real Estate Lending.
- What a week!
- Stocks and yields hit on banking crisis woes ahead of Fed - Newsquawk US Market Wrap.
- Funny Things Happen On The Way To "Restoring Financial Stability".
- Bonds, Bitcoin, & Bullion Soar As Global Bailouts Fail To Stem Bank-Runs.
- Elon Musk Hits Back At "Protect Trans Kids" Democrat Lieutenant Governor.
- The "Big Short 3" Has Its Best Day Yet.
- "I’m Telling You, He Did It": Seymour Hersh Blames Biden For Nord Stream Attack.
- Blackrock CEO Fink: Oil & Gas Is Vital In Meeting Energy Needs.
MarketWatch.com: