Evening Headlines
Bloomberg:
- China Shadow Bank Crisis Sparks Protest by Angry Investors.
- China’s Housing Slump Is Much Worse Than Official Data Shows.
- The Messy Afterlife of China’s Covid Health Codes.
- China’s Open for Travel But Few Tourists Are Coming, or Going.
- Rate Cut Wagers Are Fast Disappearing Across Emerging Asia.
- Brazil to Cap Carbon Emissions for Large Polluting Companies.
- RBNZ’s Orr Says Mild Recession ‘Bare Minimum’ to Tame Inflation.
- Argentina’s Milei Vows to Pay Country’s Debt While Shuttering Central Bank.
- Asia Stocks Extend Declines on Fed, China Concerns: Markets Wrap.
- Fed Saw ‘Significant’ Inflation Risk That May Merit More Hikes.
- Key Takeaways From Fed's July Interest-Rate Meeting Minutes.
- When Fed Cuts Rates, It May Still Be Tightening Via QT Program.
- Summers Sees 10-Year Yields Averaging 4.75% in Coming Decade.
- Goldman Sachs Blames Zero-Day Options for Fueling S&P 500 Selloff.
- Americans Have Almost Depleted Excess Savings.
- Hawaii Fires Hit Regional Bank Already Rocked by Turmoil.
- NYC Bans TikTok From Government Phones on Security Concerns.
- Cornell to Stop Serving Starbucks After Company Shut Down Unionized Cafes.
- The Midwest Is Ground Zero for the Fight Over Carbon Capture Pipelines.
Zero Hedge:
- Why Is There Such A Frenzy To Buy Up The Properties That Were Just Burned Down During The Fires In Hawaii?
- Harvard University Shows Students How To Milk Welfare System.
- Emails Show Hunter Biden Hired Specialists To Quietly Airbrush Wikipedia: Fang.
- Socialist Scholar Cornel West Owes $500,000 In Taxes.
- Will We Sacrifice DC And New York For Taiwan?
- Cash Crunch Strikes Vornado? Considers Selling Manhattan's Farley Building Amid CRE Turmoil.
- Mark Meadows Wants To Move Georgia Indictment To Federal Court - And Legal Experts Say He'll Succeed.
- The Long Reach Of COVID-19: Unraveling The Cognitive Puzzle Of Recovery.
- Thanks To Government, Maui's Lahaina Fire Became A Deadly Conflagration.
- World's Largest Investor Starts Cutting Tech Exposure, Blames Global Warming For People Not Working In "The Middle Of The Day".
- US stocks extended on declines post-FOMC minutes, despite firm US activity data - Newsquawk Asia-Pac Market Open.
- Fired AG Leading Epstein Inquiry Reveals V.I. Governor Pressured Her On Pedophile's Behalf: Fang.
- Beijing Begs Funds Not To Sell Stocks As China Challenges Mount.
- "this is no longer a buy-the-dip market".
- How NewsGuard Became The Establishment Guard Against Independent Media.
- Dollar firms while stocks and bonds slide amid hot US data and FOMC minutes - Newsquawk US Market Wrap.
- Serious & Dangerous: Welcome To The Jackson Pollock School Of (Political) Prosecution.
- Stocks, Bonds, & Commodities Crumble As Dollar Rips On Hawkish Fed Minutes.
Wall Street Journal:
- The 34-Year-Old Judge in Charge of Trump’s Georgia Case.
- Bond Yield Hits Highest Since 2008.
- Bidenomics and the New Political-Subsidy Economy. Government is steering investment now through the Inflation Reduction Act, at the cost of future growth.
- Michigan’s GOP Descends Into Chaos, Echoing National Divide.
- EV Startup VinFast’s Market Debut Pushes Value Higher Than GM, Ford.
- What 7% Mortgage Rates Mean for Home Buyers.
CNBC.com:
- Aldi to acquire Winn-Dixie and Harveys Supermarket stores in Southern expansion.
- Fed officials see ‘upside risks’ to inflation possibly leading to more rate hikes, minutes show
- Federal judge asks if Elon Musk was trying to ‘cozy up’ to Trump during criminal investigation
- Stocks making the biggest moves after hours: Cisco Systems, Synopsys, Wolfspeed and more
- Inflation Reduction Act spurs $500 billion in investments, Treasury says.
- Don’t count out more rate hikes due to strong jobs market, former Fed governor Kroszner suggests.
MarketWatch:
- How higher-for-longer rates are playing out as 10-year yield hits 15-year high.
- Why U.S. stock-market investors need to keep an eye on a weak Japanese yen.
- Housing market has hit ‘rock bottom,’ says Redfin CEO Glenn Kelman.
- Wolfspeed’s stock sinks as silicon-carbide chip company sees swelling losses.
- Cisco logs a strong quarter, pushing stock higher despite cautious full-year guidance.
- Nvidia has ‘monopolized the economics’ of AI, and analysts say its stock can keep cruising.
Newsmax:
Fox News:
- Court changes tune after backlash to massive leak of Trump indictment.
- Anheuser-Busch family heir volunteers to buy back company from current owners.
- Pride month backlash hits Target where it hurts as sales slump.
- Biden tells kids visiting White House he knows where to get ice cream: 'Daddy owes you'.
TheGatewayPundit.com:
- NEVER FORGET: CBS Breaks the News on Election Night that a Water Pipe Burst in State Farm Arena and Voting Will Be Delayed – WE ALL KNOW WHAT HAPPENED NEXT! (VIDEO).
- Judge Overseeing President Trump’s Bogus Georgia Case, Scott McAfee, Once Worked Under Soros-Funded Fulton County District Attorney Fani Willis.
- Court Filing Reveals Link Between Jeffrey Epstein, Obama’s White House Counsel and JPMorgan Chase.
- Apple Removes ALL of Glenn Beck’s Podcasts From iTunes Ahead of His Show on Biden.
- CHRIS WRAY STRIKES AGAIN! Georgia Election Workers Caught Jamming Stacks of Ballots Through Machines Multiple Times After Observers Removed from Building – CLEARED BY FBI – Jamming Stacks of Selected Ballots Through Voting Machines Is Now Legal in the USA!
- Robert F. Kennedy Jr. to Tucker Carlson: I’ve Talked to CIA and Mob Hitmen Who Were Assigned to JFK Assassination.
- Capt. Seth Keshel Explains About the 2020 Election in the Midwest States (Video).
- MSNBC All Smiles Over Fani Willis Asking for March 4 Trial Date for Trump Case–Eight Days Before Georgia Primary (Video).
- “To H*ll With These People” – Internet Users Lash Out at Woke Snow White Actress After Resurfaced Videos Show Her Making Disgusting Comments About the Disney Classic (VIDEO).
- Target Sales Slide After Company Pushes Trans-Satanist Artist’s Attire for Children.
- Russian Military Leadership Accuses US of Working To Manufacture Another Pandemic.
- Biden to Visit Maui Next Week After Criticism for “No Comment” Beach Vacation.
- “Can’t Comprehend” – Family Shocked as Seemingly Healthy Former Olympic Swimmer Dies Suddenly at Age 43.
- Illinois’ Latest Attack on Free Speech- Gov. Pritzker Signs “Anti-Doxing” Bill.
- Biden Admin Urges Supreme Court to Rule in Favor of Government Elites Censoring Speech of the Misguided Serfs.
The Epoch Times:
Business Insider:
HNGN:
BreakingDefense.com -
- Shanahan: China Is Deploying Directed Energy Weapons. (April 9th, 2019) SPACE SYMPOSIUM: Acting Defense Secretary Patrick Shanahan on April 9 bluntly asserted that China’s PLA is “deploying directed energy (DE) weapons,” adding that “Russia is doing many of the same things.” In perhaps the strongest rhetoric yet from a Trump administration official about counterspace threats to US satellite systems, Shanahan said: “Both China and Russia have weaponized space with the intent to hold American space capabilities at risk.”
Twitter:
- @AgentTruthTell3 - THIS CLIP is from the HEARINGS on ELECTION FRAUD in #Georgia in 2020. The SIGNATURES on the BALLOTS do NOT MATCH and WERE CLEARLY FORGED. There were THOUSANDS of these. (video)
- @Agent131711 - The Air Force has a DIRECTED ENERGY SITE IN MAUI and the military is running "large scale exercises August 9th - 18th"? (pic)
- @politstrip - Glass windows melt at 2552-2912 degrees Fahrenheit The glass plus gone, but not the trees? (pic)
- @RatTaco7 - It takes over 1200° continuous for many minutes in exact area to melt aluminum like this. Yet the pavement/concrete is not scorched at all. The leaves didn't even burn off the trees. (pic)
- @JamesMelville - "How you can think the most important molecule for life - carbon dioxide, which is where all life comes from - could possibly be net negative is beyond the pale. It’s throwing science and logic out the window." - Greenpeace co-founder, Dr. Patrick Moore. (video)
- @The_Real_Fly - BIDEN’S BOARD OF EDUCATION ISSUES HANDBOOK TO COLLEGES TO SKIRT AFFIRMATIVE ACTION LAWS BY LOOKING FOR ESSAYS AND RECOMMENDATION LETTERS THAT MENTION RACE.
- @ReclaimTheNetHQ - X is seemingly working on adding government ID verification with Israeli digital ID company AU10TIX. To verify by ID, users will have to upload a selfie and a photo of their government ID.
- HumanDilemma_ - Maui Police Shut Down Placards Program (Donations & Access) Hours After Launching by “Powers that Be”. (video) More disturbing stories coming out of Maui…(video)
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 975,114 Reports(+1,518 from prior week) Through July 28th, 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 lower, weighed down by financial and industrial 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.
- Asian equity indices are -1.25% to -.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 124.0 +3.75 basis points.
- China Sovereign CDS 75.5 -3.5 basis points.
- China Iron Ore Spot 100.8 USD/Metric Tonne -.06%.
- Bloomberg Emerging Markets Currency Index 42.2 -.07%.
- Bloomberg Global Risk-On/Risk Off Index 70.4 +.3%.
- Bloomberg US Financial Conditions Index 20.0 -12.0 basis points.
- Volatility Index(VIX) futures 18.0 -.34%.
- Euro Stoxx 50 futures -.81%.
- S&P 500 futures -.07%.
- NASDAQ 100 futures -.13%.
BOTTOM LINE: Asian indices are modestly lower, weighed down by financial and industrial 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.