Evening Headlines
Bloomberg:
- China Minister Lauds Putin for ‘Promoting World Peace’.
- US-Saudi Oil Pact Breaking Down as Russia Grabs Upper Hand.
- Kim Jong Un Calls for Spy Satellite Launch in Face of US Threat.
- Russian Memo Said War Leaves Moscow Too Reliant on Chinese Tech.
- Asian Stocks Subdued as Global Volatility Declines: Markets Wrap.
- ChatGPT Buzz Fuels Demand for Chips and Gear.
- Disney Is Poised to Eliminate Thousands of Jobs Next Week.
- Biden Slams McCarthy’s Wall Street Debt Speech as Risking Default.
- Three Regional Fed Boards Sought Half-Point Discount Rate Hike.
- Fed’s Bowman Doubts Benefits of US Central Bank Digital Currency.
- Failed Wagers Against Stocks Are Giving Put Sellers Best Return in Decades.
- Treasury Bets Are Diverging on Uncertainty Over the Fed’s Rate Path.
Wall Street Journal:
- If Western Civilization Dies, Put It Down as a Suicide. We are in the grip of an ideology that disowns our genius, denounces our success, disdains merit.
- Goldman Moves to Keep Shrinking Main Street Business.
- Russian Court Upholds WSJ Reporter’s Detention.
- As U.S. Government Tightens Classified Document Controls, Concerns Emerge About Overreach.
- Single Dose of Omicron-Targeting Vaccines to Become Main Covid-19 Shot in U.S.
- Government-Funded Media Still Upset Twitter Calls Them Government-Funded Media. NPR isn’t the only taxpayer-supported broadcaster getting prickly.
- Nurse Shortage Pushes Hospitals Into the Gig Economy.
CNBC.com:
MarketWatch:- The federal government wastes at least $247 billion in taxpayer money each year. Here’s how.
- Amazon lays off some employees in its advertising unit
- Google to launch its first foldable phone, the ‘Pixel Fold,’ in June
- Global rice shortage is set to be the largest in 20 years – here’s why
- Why India is so important to Apple.
- Goldman Sachs is watching for ‘cannibalization’ from Apple’s new savings account.
- United Airlines posts net loss but forecasts profit for second quarter.
- Johnson & Johnson expects no new Covid vaccine revenue, after shots drive earnings beat.
Zero Hedge:
- Gun-Free Zones, Red Flag Laws Only Make Gun Crime Worse: Economist.
- Why "Net Zero" Is Not A Rational U.S. Energy Policy.
- Q1 Earnings Season Starts Off With A Bang... And The Best Beat Rate In Over 10 Years.
- Then There Were Nine: Comer Alleges A Wider Range Of Potential Biden Beneficiaries from Possible Influence Peddling.
- Fox News And Dominion Settle Defamation Case For $787.5 Million, Averting Trial Over 2020 Election Claims.
- CRE Giant Brookfield Defaults On $161 Million Debt For DC Office Buildings.
- This Will Not Be A Normal Recession.
- New York Mayor Goes To War Against Meat And Dairy As Climate Agenda Escalates.
- Saudi Foreign Minister Lands In Syria, Meets Assad, In 1st Since War's Start In 2011.
- Texas Coordinates With ATF To Share Income Of Residents For Warrantless Monitoring.
- Sell in May?
- US stocks finished flat after mixed data and earnings results - Newsquawk Asia-Pac Market Open.
- US Sovereign Risk Nears Record High; Yield Curve Screams Recession As VIXtermination Continues.
- Blain: China Vs The USA - Does It Have To Be War?
- Netflix Dumps'n'Pumps After Subscriber Miss; Slashed Forward Guidance.
- WTI Rises After Bigger Than Expected Crude Draw.
- The US Could Use Some Separation Of Media And State.
- China 'Surgically' Hits Foreign Firms As US Tech War Worsens.
- Leaked Document Reveals The US Spying On UN Secretary-General.
- Hawkish Fed speak and mixed data sees Treasuries flatten but stocks little changed - Newsquawk US Market Wrap.
TheGatewayPundit.com:
- FDA: Monovalent Pfizer and Moderna COVID-19 Vaccines Are No Longer Authorized, New Protocols Announced.
- Rep. Marjorie Taylor Greene Calls for Judges Who Sentenced J6 Protesters To Be Impeached (WATCH).
- Lone Woman Swarmed and Brutally Attacked by Dozens of Teens in Chicago (Video).
- Disneyland Welcomes Children Of All Ages To Gay And Transgender ‘Pride Nite’.
- Speaker McCarthy Says the House GOP Will Increase the Debt Limit and Cut Spending.
- Parents Issue Warning After Son Dies While Attempting Deadly TikTok Challenge Involving Common Household Drug.
- JP Morgan’s Jamie Dimon Will Face 2 Days of Questioning in Epstein Case.
- Biden’s Education Secretary Miguel Cardona Refuses Three Times to Answer the Question: What is a Woman? (VIDEO).
- Soros-Funded St Louis Circuit Attorney Kim Gardner’s Team No-Shows Murder Trial Allowing Murderer to Go Free.
- David’s Bridal Files For Bankruptcy, Will Lay Off More than 9,000 Workers.
- Fed Persecution of Conservative Catholics Will Involve Infiltration, Says Lawyer Who Uncovered FBI Infiltration Playbook.
- Gas Prices on the Rise Again But This Time the Strategic Oil Reserves Are Empty.
- Biden
Regime Proposes New Rule Which Will Allow Biological Men to Compete in
Women’s Sports – (William) Lia Thomas Praises Actions – Champion Female
Swimmer Riley Gaines Says Proposed Bill Denies Science, Truth, and
Common Sense (VIDEO).
- US Guided-Missile Destroyer Sails Through Taiwan Strait Amid China Threat.
- China’s Central Bank Increases Gold Holdings to Prepare for US Sanctions: Analysts.
- China Accelerating Nuclear Armament ‘Without Any Transparency’: NATO Chief.
Twitter:
- @OilLondonTV - Colorado becomes TRANS TOURIST safe haven. New laws signed by the states democrat Governor Jared Polis mean that teens under the age of 18 from across the U.S. can travel to the state and undergo gender reassignment surgery and hormone replacement therapy without their parents or state being able to stop them.
- @TPostMillennial - A new study has found that antidepressants may actually raise the risk of suicide.
- @Tr00peRR - After FBI busts Chinese ‘police station’ in NYC, six more exposed in US.
- @economics - Another chip shortage? The already complex cycle is getting trickier to predict.
- @Jkylebass - Well funded Chinese nationals are illegally entering the USA.
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 949,138 Reports(+1,651 from prior week) Through March 31st, 2023.
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.
Night Trading
Morning Preview Links
BOTTOM LINE: Asian indices are mostly higher, boosted by financial and energy shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 50% net long heading into the day.
- Asian equity indices are -.25% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 121.5 unch.
- China Sovereign CDS 67.0 unch.
- China Iron Ore Spot 118.6 USD/Metric Tonne +.7%.
- Bloomberg Emerging Markets Currency Index 47.7 +.04%.
- Bloomberg Global Risk-On/Risk Off Index 58.6 +.8%.
- Bloomberg US Financial Conditions Index .18 -1.0 basis point.
- Volatility Index(VIX) futures 19.5 +.03%.
- Euro Stoxx 50 futures +.02%.
- S&P 500 futures -.08%.
- NASDAQ 100 futures -.13%.
BOTTOM LINE: Asian indices are mostly higher, boosted by financial and energy shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 50% net long heading into the day.