Evening Headlines
Bloomberg:
- China’s State Developers Warn of Major Losses as Crisis Spreads.
- China Police Visit Shadow Bank Investors at Home to Quash Unrest.
- China’s Abandoned, Obsolete Electric Cars Are Piling Up in Cities.
- Japan’s Deeper Inflation Trend to Keep BOJ on Edge Over Prices.
- Asia Stocks Fall on Amplified China, Fed Worries: Markets Wrap.
- Oil Heads for Weekly Loss as China Concerns and Rate Angst Flare.
- Goldman Plans Hiring Spree to Fix Lapses After Fed Scrutiny.
- US Housing Affordability Hits Worst Point in Nearly Four Decades.
- US Weighs Long-Term Debt Requirements on More Banks.
- Biden’s Spending Ignited Inflation That Fed Can’t Stop, Doug Burgum Says.
- Instacart Plans for September IPO in Boost for US Listings.
- Hedge Fund Woodline Sued for ‘Oppressive, Misogynistic’ Culture.
- Americans Keep On Spending But Big Retailers Doubt It’ll Last.
- ‘Poor Man’s Cocaine’ Costing $3 a Pill Threatens to Proliferate.
- Applied Materials Gives Strong Forecast as Chip Slump Eases.
- BofA’s Warning of a ‘5% World’ Sinks in With Yields Pushing Higher.
Zero Hedge:
- Vivek Ramaswamy Warns Tucker Carlson: This Country Is "On The Cusp Of Chaos... In A 1776 Moment".
- GOP Demands Biden Emails Using Pseudonym After Hunter CC'd On Ukraine Call.
- How Did Big Pharma Buy So Many Governments?
- Project Veritas Implodes Six Months After Firing James O'Keefe.
- Child Social Media Stars Can Now Sue 'Influencer' Parents Under New Illinois Law.
- California Braces As Hilary Upgraded To 'Major Hurricane'.
- Student Loan Payments To Exceed Mortgage For Some Borrowers.
- China Imports The Most Iranian Oil In A Decade.
- 9/11 Families Told That Plotters May Not Face Death Penalty.
- Leftist Establishment Dismayed By Rise Of "Populist" Candidate In Argentina.
- Bitcoin Flash Crashes More Than $2,000 Amid Stale Reports SpaceX Sold Its Stake.
- US stock selling persisted - Newsquawk Asia-Pac Market Open.
- AI & The Peculiar Unreality Of Spectacle.
- Spree Of Robberies, Car Thefts Drive Chicago Crime To New Highs.
- Banks' Usage Of Emergency Fed Funds Hits New Record High.
- Stocks and bonds slide again with Dollar flat as Yuan and Yen outperform - Newsquawk US Market Wrap.
- Victor Davis Hanson On Trump Indictments: "Coordinated Effort To Destroy Him As A Candidate".
- 'Streamflation' Bites As Searches To Cancel Hulu And Disney+ Erupt Nationwide.
- Nobody knows nothing.
- Bonds, Stocks, Bitcoin, & Bullion Battered As Yuan & The Yield-Curve Rally.
Wall Street Journal:
- Lahaina Worries About Real-Estate Speculators After Fire Destruction.
- DEI Dies in the Desert. Arizona chooses academic freedom over ideological conformity.
- Mortgage Rates Hit Highest Level in More Than 20 Years.
- A Rare Look Into the Finances of Musk’s Secretive SpaceX.
- Too Many Vacant Lots, Not Enough Housing: The U.S. Real-Estate Puzzle.
- China Evergrande Seeks U.S. Court Approval for $19 Billion Debt Restructuring.
- Why Child-Care Prices Are Rising at Nearly Twice the Overall Inflation Rate.
- 10-year yield rises to highest level since October 2022.
- Bitcoin abruptly tumbles as much as 9% to just over $26,000 late Thursday
- Walmart and Target face similar problems — but only one is thriving
- Stocks making the biggest moves after hours: Applied Materials, Ross Stores and more.
- Here’s why Americans can’t stop living paycheck to paycheck.
MarketWatch:
- Mortgage rates could hit 8%, economists say, citing a worrying sign not seen since Great Recession.
- ‘King dollar’ makes a comeback as greenback’s summertime rally nears critical milestone.
- Treasury market returns are negative again. Why this time for bonds looks different than 2022.
- China Evergrande files for Chapter 15 bankruptcy: reports
- Global investors expect China to deliver a massive fiscal stimulus. Here’s why it may never arrive.
- San Francisco asks state regulators to pause robotaxi rollout, reassess approval.
- Why Treasury yields keep rising, causing pain for stock-market investors.
- Traders brace for explosion of volatility Friday as $2.2 trillion in stock options expire.
Fox News:
TheGatewayPundit.com:
- Report Shows GBI Strategies as Part of Massive Left-Wing Dark Money Voting Operation by Democrats in 2020 Election.
- NEWT GINGRICH: I Am Told Someone From DC Called Fani Willis on Friday and Demanded She Indict Trump on Monday to Cover Up Weiss “Screw Up” (VIDEO).
- A NATIONAL DISGRACE: Photos Leaked of Horrific January 6 Prisoner Abuse – Tortured 5 Months in Isolation in a Closet Room with Light on and a Bucket for a Toilet — Where are the ACLU, Amnesty International, Human Rights Watch?
- “Stay Tuned” – O’Keefe Media Group to Drop Explosive Update to Undercover Reporting on Illegal Voter Registration in Fulton County, Georgia.
- Pro Surfer Kai Lenny in Maui: “I Haven’t Seen One State, County, or Federal Official at Any of the Donation Hubs Where People Are Most Suffering” (VIDEO).
- Powder Keg Europe: Poland, Lithuania and Latvia To Shut NATO Borders With Belarus – Increasingly Militarized Poland Says Lukashenko Will Try To Disrupt Its Elections.
- WHAT? Biden Wants to Give $500 Million of US Taxpayer Money to the Socialist Lula da Silva to “Save” the Amazon in Brazil.
- General Michael Flynn Comments on Torture of J6 Prisoners Held in Isolation for Months in Closet Cells.
- Joe Hoft on The War Room: The 2020 Election Depended Just As Much On The Cover-Up as It Did on the Steal (VIDEO).
- You Can’t Make This Up: Maui’s Emergency Operations Chief Has No Background in Disaster Response – Offers Absurd Excuse for Not Activating Sirens During Wildfire (VIDEO).
- Joe Biden AGAIN Callously Brushes Off Question on Deadly Maui Fires (VIDEO).
- Biden Negotiating Sweetheart Deal for 9-11 Terrorist Masterminds Who Murdered 2,996 Americans – As J6 Political Prisoners Are Tortured in US Prison Closet Cells.
- Ukraine War Update: Russia Got Richer While West Shed Trillions of Dollars – US Lost $5.9 Trillion.
- JUST IN: James Comer Reveals List Of Pseudonyms Joe Biden Used As VP – Demands National Archives Hand Over ALL Un-Redacted Records of “Robert L. Peters” aka Joe Biden.
- Flashback: Auditor Geels: After Georgia Election – Secretary of State Raffensperger Still Refuses to Address Lawsuit on Irregularities of 2020 Election.
The Epoch Times:
NY Post:
Business Insider:
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:
- @Agent131711 - The Air Force has a DIRECTED ENERGY SITE IN MAUI and the military is running "large scale exercises August 9th - 18th"? (pic)
- @Resist_05 - Lahaina Hawaii… only the beachfront properties were saved, whilst downtown Lahaina that developers have tried to buy out was completely wiped out. (video)
- @HumanDilemma_ - Hawaiian official M. Kaleo Manuel refused to release water in Maui as the fire raged. Manuel is deputy director of the Department of Land and Natural Resources. Here he is explaining that water should be revered, not used. (video) Maui Police BAN PRESS From Documenting The Enormous & Suspicious Obliteration Of The City. (video)
- @AndreiConstance - Cops blocking in the people of Lahaina from making escape from imminent danger! Justice for Maui! (video)
- @DakotaSidwell - BREAKING NEWS. The US Space force just created its first unit dedicated to targeting other nations satellites. Now why would that be necessary?
- @BigFish3000 - John Fredricks obliterates Georgia’s Governor Brian Kemp claim election was fair. (video)
- @BehizyTweets - BREAKING: More BOMBSHELL footage of Duplicated ballots that counted in the Fulton County 2020 election has been released by reporter @TalkMullins. This time you see duplicated ballots that counted for Fani Willis. No wonder she's going after Trump. (video)
- @AgentTruthTell3 - REMINDER #TuckerCarlson on @FoxNews when he EXPOSED the 2020 ELECTION FRAUD in #Georgia. (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 higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.
- Asian equity indices are -.75% to +.25% on average.
- Asia Ex-Japan Investment Grade CDS Index 129.75 +5.75 basis points.
- China Sovereign CDS 79.75 +4.25 basis points.
- China Iron Ore Spot 106.5 USD/Metric Tonne +.8%.
- Bloomberg Emerging Markets Currency Index 42.4 +.1%.
- Bloomberg Global Risk-On/Risk Off Index 71.3 +.97%.
- Bloomberg US Financial Conditions Index 7.0 -11.0 basis points.
- Volatility Index(VIX) futures 18.7 -.8%.
- Euro Stoxx 50 futures -.02%.
- S&P 500 futures +.12%.
- NASDAQ 100 futures +.07%.
BOTTOM LINE: Asian indices are modestly lower, weighed down by financial and industrial shares in the region. I expect US stocks to open modestly higher and to weaken into the afternoon, finishing mixed. The Portfolio is 50% net long heading into the day.