Friday Watch

Evening Headlines

Bloomberg:

• Japan Price Growth Accelerates Ahead of BOJ Inflation Update.
• US Increases Troop Presence in Middle East Amid Iran Tensions.
• Popular Taiwan Mayor Stumbles in Bid to Lead in US-China Hotspot.
• ‘Cursed’ Nations Want to Turn Green Minerals Boom Into a Blessing.
• Asian Stocks Under Pressure After Wall Street Drop: Markets Wrap.
• Fed-Driven ‘Category 5 Hurricane’ Has Billionaire Sternlicht Eyeing Bargains.
• Here Are the Biggest Risks to Markets, According to Three Wall Street Titans.
• Toxic Posts on Economist Job Website Traced to Users from Elite Universities.
• FTC to Pause Microsoft Merger Trial, Opening Door to Settlement Talks.
• Biden Creates Team to Find Ways of Ending Debt-Limit Standoffs.
• Billionaire Sternlicht Sees ‘Category 5 Hurricane’ Spurred by Fed Rate Hikes.
• Fed Launches Long-Delayed Payments Network for Instant Bank Transfers.
• US Virgin Islands Fails to Block JPMorgan’s ‘Unclean Hands’ Epstein Defense.
• TSMC’s Arizona Delay Poses Risk to Biden’s Push for US-Made Chips.

Zero Hedge:

• Grassley Releases Bombshell FBI Doc Discussing $10MM Biden Bribe; Burisma Boss Said Hunter 'Dumber Than His Dog'
• Unprecedented Hedge Fund "Destruction" Sparks Massive Degrossing As Offside Exposure Hits March 2020 Crash Levels.
• "Go Somewhere That Understands Your Worth" - Los Angeles Police Union Boss Tells Cops Leaving City.
• Pushback Forces Major Retailer To Shelve Graphic Book On Sex Aimed At 10 To 15 Year Olds.
• Robert Malone: You Are The Population They Want To Control.
• Video Of Deserted Mall And Streets In Downtown San Fran Reveals Democrats Destroyed City.
• China's Digital Yuan Nears $250 Billion Transaction Volume; Central Bank Governor.
• Chinese Hackers Access Email Of US Ambassador, Compromise "Hundreds Of Thousands" Of US Government Emails.
• Lab-Grown Artificial 'Meat' May Actually Be Worse For The Environment.
• FBI Official Admits Under Oath They Knew Hunter Biden Laptop Was Real.
• No Sanctuary: NYC Shoos Migrants Away, Warns "No Guarantee" Of Shelter, Services.
• Nasdaq suffered its second-worst day of the year amid earnings disappointment and rising yields - Newsquawk Asia-Pac Market Open.
• As FedNow Launches, Fed Reassures Public That 'Service Has No Relation With CBDCs'.
• Scientist Who Privately Said Lab-Leak 'Not Some Fringe Theory' Calls Reporting On This A 'Conspiracy Theory'.
• Yellow Blames Teamsters For Liquidity Crunch, Union Barks Back.
• Emergency Bank Bailout Facility Usage Remains At Record Highs; Fed 'QT' Accelerates.
• Stocks sink as earnings underwhelm and low jobless claims ignite the Dollar and yields - Newsquawk US Market Wrap. 
• Bonds, Big-Tech, Bullion, & Bitcoin Breakdown As Greenback Gains.

Wall Street Journal:

• Sergey Brin Is Back in the Trenches at Google.
• U.S. Ambassador to China Hacked in China-Linked Spying Operation.
• Housing’s Recession Already Happened.
• This Arkansas Town Could Become the Epicenter of a U.S. Lithium Boom.
• Biggest Winners From U.S. Climate Law: Foreign Firms.
• Blackstone Wins Private Equity’s Race to $1 Trillion.

CNBC.com:

• FTX accuses Sam Bankman-Fried of funding criminal defense with $10 million in misappropriated funds.
• Airline cargo revenue is cratering. Here’s why that’s actually good news.
• Federal Reserve officially launches new FedNow instant-payments service.
• How Samsung and Texas Instruments made the Lone Star State the hub of U.S. chip manufacturing.
• Stocks making the biggest moves after hours: CSX, PPG Industries and more.

MarketWatch: 

• Here are the latest signs that Americans are running out of savings.
• Opinion: ‘Overbought does not mean sell.’ Stock bulls and this market have room to run.
• Tesla and Netflix are ‘terribly overvalued’ says New Constructs.
• Bond market starts to fret about return of inflation on strength of U.S. labor market.
• Tornado damage at Pfizer facility threatens to make critical drug-supply shortages even worse, experts say.

Newsmax:

• Rep. Grothman: Whistleblowers Risk Much to Expose Deep State.
• More Warships, Marines Mideast-Bound Over Iran Threat to Commercial Ships.

Fox News:

• Comedian exposes liberal hypocrisy and explains why Jason Aldean won't be canceled.
• White House under pressure amid 'clear shift' in answer about Biden's role in Hunter's business.
• RFK Jr. sets the record straight after 'twisted' attacks from his own party at explosive hearing.

TheGatewayPundit.com:

• New York City Agrees to Pay Violent BLM-Antifa Protesters $13 Million After 450 Businesses Were Damaged in the Riots.
• RECAP of President Trump’s Special Screening of “Sound of Freedom”! PHOTOS AND VIDEOS OF PRESIDENT TRUMP’S FIRST REACTION TO THE MOVIE WITH CAST! “When God Tells You What To Do, You Do Not Hesitate.”
• Breaking: Rand Paul Criminally Refers Dr. Fauci to DOJ For Prosecution For Lying to Congress About Gain-of-Function.
• BREAKING: Grassley Releases FBI Document Showing Joe Biden Was Involved in $10 Million Bribery Scheme with Burisma Executive – Biden FORCED Oligarch to Pay Up!
• FIFA Begs Fans to ‘Do the Right Thing’ and Buy Tickets as Women’s World Cup Gets Underway with Many Unsold Seats.
• MARK YOUR CALENDAR: Presidential Candidate Robert Kennedy, Jr. to Discuss Today’s Weaponization Hearing, Government Censorship and Silencing of American Voices on Friday Twitter Space Hosted by Eric Bolling, With Guests Jim Hoft, Joe Hoft and the Bollingers at 3:00 pm Eastern.
• FBI Knew Hunter Laptop Was Authentic in 2019 But Lied to Social Media Companies So Story Would be Censored During 2020 Election.
• “Every Statement You Made About Me is Inaccurate…These Are Defamations Used to Censor Me” – RFK Jr. Goes Scorched Earth on Nasty Democrat After She Slanders and Advocates Censoring Him During Her Opening Statement (VIDEO).
• You Can’t Make This Up: House Democrats Vote to Censor RFK Jr. During Hearing on Censorship (VIDEO).
• WARNING TO PARENTS: Barbie Movie Is Woke Propaganda – Doll-Smashing, Woman-Bashing, Anti-Mother, Pro-Trans Filth Aimed at Little Girls (VIDEO).
• Docuseries “Remedy” Offers Hope for Those Suffering from Vaccine Damage.

The Epoch Times:

• GOP House Candidate Criticizes CCP Ideologies, China’s Organ Harvesting.
• US Stands ‘In Solidarity’ With Falun Gong 24 Years Since CCP’s Persecution Began: State Department.

Twitter: 

• @The_Real_Fly - TRUMP REVIEWS “SOUND OF FREEDOM” — BOLD MOVE PRAISING AN ANTI PEDOPHILE FILM * (video)

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 969,243 Reports(+2,348 from prior week) Through June 30th, 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 

• Asian equity indices are -.5% to +.25% on average.

• Asia Ex-Japan Investment Grade CDS Index 110.50 +1.5 basis points. 

• China Sovereign CDS 63.5 +1.75 basis points.
  
• China Iron Ore Spot 113.1 USD/Metric Tonne -1.43%.

• Bloomberg Emerging Markets Currency Index 43.4 -.14%.
• Bloomberg Global Risk-On/Risk Off Index 65.4 +1.4%. 
• Bloomberg US Financial Conditions Index .40 -7.0 basis points.
  
• Volatility Index(VIX) futures 15.80 -.29%.
• Euro Stoxx 50 futures -.34%.

• S&P 500 futures +.06%.

• NASDAQ 100 futures +.03%.  

Morning Preview Links

BOTTOM LINE: Asian indices are mostly lower, weighed down by technology and consumer shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower.  The Portfolio is 50% net long heading into the day.

Stocks Lower into Close on Cooling FANG+ Stock Frenzy, Rising Long-Term Rates, Earnings Outlook Worries, Tech/Homebuilding Sector Weakness

Broad Equity Market Tone:

• Advance/Decline Line: Substantially Lower
  

• Sector Performance: Most Sectors Declining
  

• Volume: Around Average

• Market Leading Stocks: Performing In Line
  

Equity Investor Angst:

• Volatility(VIX) 14.1 +2.2%
• DJIA Intraday % Swing .80%
  
• Bloomberg Global Risk On/Risk Off Index 64.5 +1.4%

• Euro/Yen Carry Return Index 164.7 -.25%

• Emerging Markets Currency Volatility(VXY) 8.6 +.12%

• CBOE S&P 500 Implied Correlation Index 17.7 +5.6% 

• ISE Sentiment Index 116.0 -24.0 points
  

• Total Put/Call .82 unch.

• NYSE Arms .88 -4.4%

Credit Investor Angst:

• North American Investment Grade CDS Index 66.22 +.9%
  

• US Energy High-Yield OAS 342.08 +.36%
• Bloomberg TRACE # Distressed Bonds Traded 376.0 -12.0
  

• European Financial Sector CDS Index 81.23 +.23% 
• Deutsche Bank Subordinated 5Y Credit Default Swap 264.3 +1.6%
  

• Italian/German 10Y Yld Spread 162.0 basis points -2.0 basis point
  

• Asia Ex-Japan Investment Grade CDS Index 109.5 +.8%
  

• Emerging Market CDS Index 204.7 +.49%
  

• China Corp. High-Yield Bond USD ETF(KHYB) 25.7 +.09%

• 2-Year Swap Spread 21.25 basis points unch.
  

• TED Spread 19.0 basis points +.75 basis points
  

• 3-Month EUR/USD Cross-Currency Basis Swap -11.75 -.25 basis point
  
• MBS  5/10 Treasury Spread 165.0 +2.0 basis points
  
• Bloomberg CMBS Investment Grade Bbb Average OAS 721.0 +3.0 basis points
  
• Avg. Auto ABS OAS 76.0 -1.0 basis point
  

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 43.5 -.18%
• 3-Month T-Bill Yield 5.40% -1.0 basis point
  

• China Iron Ore Spot 113.9 USD/Metric Tonne -.78%
• Dutch TTF Nat Gas(European benchmark) 28.0 euros/megawatt-hour  +3.9%

• Citi US Economic Surprise Index 63.5 -.2 point

• Citi Eurozone Economic Surprise Index -119.7 -2.2 points

• Citi Emerging Markets Economic Surprise Index -9.9 -.8 point
• S&P 500 Current Quarter EPS Growth Rate YoY(75 of 500 reporting) +5.6% -3.4 percentage points
  
• S&P 500 Blended Forward 12 Months Mean EPS Estimate 231.58 -.01:  Growth Rate +3.7% +.1 percentage point, P/E 19.7 -.1
  
• S&P 500 Current Year Estimated Profit Margin 12.16% -1.0 basis point
  
• NYSE FANG+ Current Quarter EPS Growth Rate YoY(2 of 10 reporting) +14.5% n/a
  
• NYSE FANG+ Blended Forward 12 Months Mean EPS Estimate 217.96 +.22: Growth Rate +41.7% -1.4 percentage point, P/E 36.5 -1.5
  
• Bloomberg US Financial Conditions Index .45 +2.0 basis points
  
• Bloomberg Euro-Zone Financial Conditions Index n/a
  
• US Yield Curve -98.25 basis points (2s/10s) -2.5 basis points
  
• US Atlanta Fed 2Q GDPNow Forecast +2.42% unch.
  

• Cleveland Fed Inflation Nowcast Core PCE YoY +4.19% unch.: CPI YoY +3.36% unch.
  
• 10-Year TIPS Spread 2.30 +9.0 basis points
  
• Highest target rate probability for Sept. 20th FOMC meeting: 83.9%(-.6 percentage point) chance of 5.25%-5.5%. Highest target rate probability for  Nov. 1st meeting: 68.3%(-2.7 percentage points) chance of 5.25%-5.5%.
  

Overseas Futures:

• Nikkei 225 Futures: Indicating -180 open in Japan 
• China A50 Futures: Indicating -59 open in China

• DAX Futures: Indicating -7 open in Germany

Portfolio:

• Slightly Higher:  On gains in my medical/utility sector longs, index hedges and emerging market shorts
  

• Disclosed Trades: Added to my (IWM)/(QQQ) hedges, then covered some
  

• Market Exposure: 50% Net Long
  

Tomorrow's Earnings/Economic Releases of Note; Market Movers

Earnings of Note 
Company/Estimate 

Before the Open:

• (AXP)/2.81
• (ALV)/1.41
• (AN)/5.91
• (CMA)/1.86
• (IPG)/.61
• (RF)/.59
• (SLB)/.71
  

After the Close: 

• None of note
  

Economic Releases  

7:00 am EST

• Bloomberg July US Economic Survey.
  

Upcoming Splits 

• None of note
  

Other Potential Market Movers

• The UK Retail Sales report and the (VTEX) investor day could also impact global trading tomorrow.

US Equity Market Hours

• 9:30 am - 4:00 pm EST

Thursday Watch

Evening Headlines

Bloomberg:

• VC Firms Investing in China’s Tech Companies Draw US House Panel Investigation.
• Russia Could Attack Civilian Grain Ships in Black Sea, US Warns.
• Brazil’s All-Powerful Sugar Industry Is Souring the Country on EVs.
• Japan Trade Balance Swings to Surprise Surplus in June.
• Musk Says Tesla to Spend Over $1 Billion on Dojo Supercomputer.
• Musk Bets the House of Tesla on Low Prices and Razor-Thin Margins.
• Elliott Builds Stake in Catalent to Push for Changes.
• Goldman Profit Tumbles on Real Estate Hits, Dealmaking Slide.
• 'Apple GPT' Is Being Developed to Challenge OpenAI and Google's Bard.
• Nadella’s Microsoft Payouts Top $1 Billion on 1,000% Stock Boom.

Zero Hedge:

• 'Most Contemptible Song Of The Decade': Country Music TV Bans Jason Aldean's "Try That In A Small Town" Video
• Biden DoD Lets Transgender Service Members Skip Deployments, Receive Indefinite Physical Fitness Waivers: Confidential Memo.
• The Collapse Of The "Risk-Free" Delusion: Implications For The $133 Trillion Bond Market.
• 'No Way To Escape Haze': Canadian Wildfire Smoke Pours Into North Florida While African Dust Approaches From South.
• The Django Syndrome: What The Latest Racist Attacks On Clarence Thomas Say About Our Rage Politics.
• Bumps Appear In Surfing's Gender Equality Wave.
• US General Mark Milley Claims Ukraine Counter Offensive 'Far From Failure'.
• Taiwan Says It Detected A Record 16 Chinese Warships Around Island.
• Wheat Prices Soar As Russia Considers Ships Heading To Ukraine As "Carriers Of Military Cargo".
• Shrinkflation: You're Paying More And Getting Less.
• Watch: National Security Head Says UFOs Having 'Real Impact' On USAF Pilots.
• US stocks were choppy as participants digested data, earnings and tech-related headlines - Newsquawk Asia-Pac Market Open.
• Meta's Threads 'Bombs' As Daily Active Users Halved.
• "This Year Is The Worst": SF Walgreens Store Suffers 20 Thefts A Day, Chains Up Freezer Section.
• Illinois Delegated Control Over Its "Ban On Book Bans" To Self-Described Marxist.
• There is always a squeeze somewhere.
• Stocks and bonds chop on mixed earnings, underwhelming AI updates, and soft economic data - Newsquawk US Market Wrap. 
• Another Day, Another Short-Squeeze For Stocks; Yield Curve Yells 'Recession'.

Wall Street Journal:

• A Once Unpaved Stretch of Highway Is One of Florida’s Hottest Rental Markets.
• Homeowners Don’t Want to Sell, So the Market for Brand-New Homes Is Booming.
• Stanford President Resigns.

CNBC.com:

• IBM reports earnings beat, but misses on revenue.
• Stocks making the biggest moves after hours: Netflix, Tesla, IBM and more.
• What could crush a growing bull market? Cramer lays out potential hazards.
• House committee takes aim at U.S. venture capital firms for investments in Chinese A.I.
• Oddity starts trading with a 35% debut pop — here’s what the beauty and tech company does.

MarketWatch:  

• United Airlines earnings: Even higher 2023 profit expected despite last month’s meltdown.
• Carvana’s stock has roared back from the brink. This chart shows its meteoric surge.
• Netflix seems immune (so far) from Hollywood’s shutdown.
• Tesla reports 47% rise in sales for its second quarter, but profitability shrinks.
• Disney lacks easy fixes to its numerous challenges, analyst warns.
• Investors are the most bullish on stocks since before the 2022 bear market, says Vanguard.

Newsmax:

• GOP Doctors Slam CDC Trans 'Chestfeeding' Guidance.

Fox News:

• Federal prosecutor who donated to Biden 'refused' to charge Hunter: whistleblower.
• Woke rush to 'cancel' Jason Aldean over anti-crime song seems to have opposite effect.
  

TheGatewayPundit.com:

• ‘At Least 25-30’ IRS Agents in Tactical Gear Raid Business in Stuart, Florida.
• Emmy Award-Winning CBS Meteorologist Dies Suddenly at 51.
• America Last! Biden Regime to Send Another $1.3 Billion of Additional Security Assistance for Ukraine.
• BACKFIRE: Liberal Has-Been Singer Sheryl Crow Gets Obliterated After Sending Snarky, Clueless Tweet to Jason Aldean Over His Music Video -“Try That In A Small Town” SOARS to Number 1 on iTunes (VIDEO).
• Nigel Farage On “Chinese Social Credit System”: “They Revoked my Bank Account Over “Stasi-Style” Report on Brexit, “Racism” and Meeting Tennis Star Novak Djokovic.
• Orwellian France: Parliament Approves Legislation Opening Door to Mass Surveillance, Making It Easier for Authorities to Spy on Electronic Devices.

The Epoch Times:

• US Venture Capital Firms Are Supporting China’s Military: House Panel.

Twitter: 

• @songpinganq - China's 'social credit score system' monitoring social media and web use to make it ''hard for the discredited to take a single step''. Will it come to the West? Has it, already? (video)
• @TheEconomist - Bud Light is being dethroned by Modelo Especial.
• @JackPosobiec - CMT is owned by Paramount, the same network that makes Yellowstone. Can’t make this up. (video)
• @NewsMax - Senator @RandPaul lays out the case for prosecuting Dr. Fauci for lying to Congress. "I want to know when Merrick Garland is going to prosecute him." (video)
• @acemaxx - #China's share of US #imports has been declining as American firms have diversified their manufacturing base to countries like #Vietnam and #Taiwan — with plans to bring capacity back to the US as well. (graph)

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 969,243 Reports(+2,348 from prior week) Through June 30th, 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 

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

• Asia Ex-Japan Investment Grade CDS Index 109.0 +.75 basis point. 

• China Sovereign CDS 61.75 +1.25 basis points.
  
• China Iron Ore Spot 113.2 USD/Metric Tonne +2.6%.

• Bloomberg Emerging Markets Currency Index 43.6 +.01%.
• Bloomberg Global Risk-On/Risk Off Index 64.0 +.6%. 
• Bloomberg US Financial Conditions Index .45 -3.0 basis points.
  
• Volatility Index(VIX) futures 16.0 +.6%.
• Euro Stoxx 50 futures -.07%.

• S&P 500 futures -.14%.

• NASDAQ 100 futures -.44%.  

Morning Preview Links

BOTTOM LINE: Asian indices are mostly higher, boosted by financial and consumer shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed.  The Portfolio is 50% net long heading into the day.

Stocks Slightly Higher into Afternoon on Earnings Outlook Optimism, Lower Long-Term Rates, Short-Covering, Financial/Telecom Sector Strength

Broad Equity Market Tone:

• Advance/Decline Line: Higher
  

• Sector Performance: Most Sectors Rising
  

• Volume: Around Average

• Market Leading Stocks: Performing In Line
  

Equity Investor Angst:

• Volatility(VIX) 13.5 +1.4%
• DJIA Intraday % Swing .69%
  
• Bloomberg Global Risk On/Risk Off Index 64.2 +.1%

• Euro/Yen Carry Return Index 165.0 +.31%

• Emerging Markets Currency Volatility(VXY) 8.6 +1.5%

• CBOE S&P 500 Implied Correlation Index 16.4 +3.1% 

• ISE Sentiment Index 163.0 +48.0 points
  

• Total Put/Call .80 +1.3%

• NYSE Arms .91 -22.2%

Credit Investor Angst:

• North American Investment Grade CDS Index 66.0 +.7%
  

• US Energy High-Yield OAS 341.7 +.16%
• Bloomberg TRACE # Distressed Bonds Traded 388.0 -9.0
  

• European Financial Sector CDS Index 79.4 -.9% 
• Deutsche Bank Subordinated 5Y Credit Default Swap 260.18 -.85%
  

• Italian/German 10Y Yld Spread 164.0 basis points +1.0 basis point
  

• Asia Ex-Japan Investment Grade CDS Index 108.7 -.94%
  

• Emerging Market CDS Index 203.97 +.98%
  

• China Corp. High-Yield Bond USD ETF(KHYB) 25.6 -.84%

• 2-Year Swap Spread 21.25 basis points -.5 basis point
  

• TED Spread 18.25 basis points -1.5 basis points
  

• 3-Month EUR/USD Cross-Currency Basis Swap -11.5 +1.25 basis points
  
• MBS  5/10 Treasury Spread 163.0 +3.0 basis points
  
• Bloomberg CMBS Investment Grade Bbb Average OAS 718.0 +3.0 basis points
  
• Avg. Auto ABS OAS 77.0 -1.0 basis point
  

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 43.6 +.11%
• 3-Month T-Bill Yield 5.41% +3.0 basis points
  

• China Iron Ore Spot 112.3 USD/Metric Tonne +1.8%
• Dutch TTF Nat Gas(European benchmark) 26.9 euros/megawatt-hour  -.4%

• Citi US Economic Surprise Index 63.7 -4.7 points

• Citi Eurozone Economic Surprise Index -121.9 +6.1 points

• Citi Emerging Markets Economic Surprise Index -9.1 +.1 point
• S&P 500 Current Quarter EPS Growth Rate YoY(48 of 500 reporting) +9.0% -2.0 percentage points
  
• S&P 500 Blended Forward 12 Months Mean EPS Estimate 231.59 +.09:  Growth Rate +3.6% +.1 percentage point, P/E 19.8 +.2
  
• S&P 500 Current Year Estimated Profit Margin 12.17% -1.0 basis point
  
• NYSE FANG+ Current Quarter EPS Growth Rate YoY(0 of 10 reporting) n/a
  
• NYSE FANG+ Blended Forward 12 Months Mean EPS Estimate 217.74 +.77: Growth Rate +43.1% +.5 percentage point, P/E 38.0 +.5
  
• Bloomberg US Financial Conditions Index .43 +2.0 basis points
  
• Bloomberg Euro-Zone Financial Conditions Index -4.19 +13.0 basis points
  
• US Yield Curve -100.75 basis points (2s/10s) -3.5 basis points
  
• US Atlanta Fed 2Q GDPNow Forecast +2.42% +3.0 basis points
  

• Cleveland Fed Inflation Nowcast Core PCE YoY +4.19% unch.: CPI YoY +3.36% unch.
  
• 10-Year TIPS Spread 2.21 -2.0 basis points
  
• Highest target rate probability for Sept. 20th FOMC meeting: 87.9%(+3.4 percentage points) chance of 5.25%-5.5%. Highest target rate probability for  Nov. 1st meeting: 73.5%(+4.1 percentage points) chance of 5.25%-5.5%.
  

Overseas Futures:

• Nikkei 225 Futures: Indicating -46 open in Japan 
• China A50 Futures: Indicating -38 open in China

• DAX Futures: Indicating +100 open in Germany

Portfolio:

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

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

• Market Exposure: Moved to 75% Net Long