Evening Headlines
Bloomberg:
- New US Spy Satellites to Track Chinese, Russian Threats in Orbit.
- ByteDance Accused of Helping China Track Hong Kong Activists.
- RBI May Pause Again With Markets Watching for Shift in Stance.
- RBA Alert to Risk Inflation Stays Too High, Too Long, Lowe Says.
- PGA Tour Bows to Saudi Rival in Stunning Combination With LIV Golf.
- Asian Equities Rise With Positive Signs for China: Markets Wrap.
- Oil Steadies as Concerns Over Demand Overshadow Saudi Output Cut.
- Coinbase Is Facing a ‘Life or Death’ Battle With the SEC.
- Coinbase Crackdown Widens as US States Push to Halt Staking Product.
- Apollo CEO Marc Rowan Sees ‘Non-Recession Recession’ as Rate Hikes Bite.
- California Puts a Price on Slavery’s Legacy and Draws a Blueprint for Reparations.
- Gen Z Is Thinking of Retirement Too Early and All Wrong.
- Five Things You Need to Know to Start Your Day.
Zero Hedge:
- Tucker's Back! In Triumphant Return, Demolishes Ukraine Dam Propaganda, Massacres MSM For Ignoring UFO 'Bombshell Of The Millennium'
- Like, Totally Orwellian: Nearly A Third Of GenZ Favors 'Government Surveillance Cameras In Every Household'
- FBI Conduct Sparks Protest At Federal Building In Detroit.
- Media Smears Robert F. Kennedy, Jr. For "Conspiracy Theories" Even As Many Come True.
- Blinken Plans To Visit China In Coming Weeks, Follows "Candid" Dialogue.
- Journalists Are Asking Ukrainian Soldiers To Hide Their Nazi Patches, NYT Admits.
- Santa Monica Residents Push Back Against Outdoor Needle Distribution Site For Homeless.
- US Knew Ukraine Planned To Blow Up Nord Stream Pipeline 3 Months Before It Happened: WaPo.
- What Are Older Office Towers Worth In The New Era? Second San Francisco Office Tower Sells For 70% Off Original Listing Price.
- S&P 500 printed its highest close YTD, while the R2K rallied on regional bank strength - Newsquawk Asia-Pac Market Open.
- DeSantis Claims On Chicago Kid Shootings: Hyperbole Or Fact?
- Netanyahu Threatens Iran, Slams IAEA Amid Major War Drills.
- SPX closes at 2023 in light trade with RUT and DXY firmer on US growth upgrades - Newsquawk US Market Wrap.
- WTI Drops Below Pre-Saudi-Cut Levels After API Signals Big Product Builds.
- The Cloward-Piven Strategy.
- Massive Short Squeeze Sends Small Caps Soaring; Bitcoin Bounces Back Bigly.
Wall Street Journal:
CNBC.com:
- PGA Tour agrees to merge with Saudi-backed rival LIV Golf.
- West Coast port labor issues continue as some Los Angeles-bound rail shipments get paused.
- SEC asks for emergency order to freeze Binance US assets anywhere in the world.
- The destruction of a major Ukrainian dam could have grave consequences. Here’s what we know so far.
MarketWatch:
- 10 reasons I won’t be buying Apple’s $3,500 Vision Pro VR headset
- Apple’s Vision Pro is ‘frightening’ in the best way—but many questions remain
- Bed Bath & Beyond’s final days bring chaos, confusion and rude customers: ‘It’s all a mess’
- Boeing stock drops on warning about defect on 787 Dreamliner planes.
- Tesla Model 3s now qualify for $7,500 in federal tax credits.
TheGatewayPundit.com:
- House Conservatives Launch “Extraordinary Rebellion” Against Kevin McCarthy on House Floor Over Debt Deal Anger and Derail Key Leadership Priority – Leadership Threatened to Sink GOP Debt Ceiling Opponent’s Bill to Stop Biden Gun Ban.
- EPIC! Laura Loomer Confronts Disgraced Former FBI Director James Comey – And He Flees the Stage! -VIDEO.
- NPR Publishes Hit Piece on Gateway Pundit Loaded with Personal Smears But Won’t Refute Our Reporting – So Today We Are Releasing New Video Evidence and Information on the ERIC System.
- Tucker Carlson Releases Episode 1 of His ‘Tucker on Twitter’ Program – On the Explosion of the Kakhovka Dam in Ukraine that Was Blown Up Today (VIDEO).
- NEW: MORE EVIDENCE Shows Voting Machines Were Secretly Reprogrammed and Fraudulently Certified in Maricopa County, AZ – Kari Lake Responds to This Latest Finding.
- “Gonna Be Historic” – Rep. Anna Paulina Luna Explains How the House Plans to Punish Rep. Adam Schiff for Spreading the Russia Collusion Hoax and that the Vote Will Happen Tomorrow (VIDEO).
- IT WAS ALL A LIE: Here are Six Videos that Show Capitol Police Moving Barricades, Opening Sets of Locked Doors, Waving in Trump Supporters on January 6th.
- 3 in 10 Young Americans and Mostly Democrats Support Government Cameras Installed in American Households, Survey Says.
The Epoch Times:
Twitter:
- @AGHuff - This is how #Michigan is being sold out to China.
- @intheMatrixxx - China's new education campaign is absolutely terrifying, and for some reason, no one is talking about it. (video)
- @acemaxx - The implication is that #risks associated with #concentration, lack of #diversification and #valuation are growing, and market structure is increasingly #fragile, chart Lisa Shalett @MorganStanley.
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 963,283 Reports(+1,415 from prior week) Through May 26th, 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 modestly higher, boosted by tech and industrial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.
- Asian equity indices are -.25% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 116.0 -1.25 basis points.
- China Sovereign CDS 61.25 -.75 basis point.
- China Iron Ore Spot 107.4 USD/Metric Tonne +.97%.
- Bloomberg Emerging Markets Currency Index 45.9 -.57%.
- Bloomberg Global Risk-On/Risk Off Index 60.2 +.42%.
- Bloomberg US Financial Conditions Index .06 -3.0 basis points.
- Volatility Index(VIX) futures 17.5 +.5%.
- Euro Stoxx 50 futures +.09%.
- S&P 500 futures +.03%.
- NASDAQ 100 futures -.04%.
BOTTOM LINE: Asian indices are modestly higher, boosted by tech and industrial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 75% net long heading into the day.