Evening Headlines
Bloomberg:
- US Presses Gulf Allies to Help Stem Fresh Fundraising for Hamas.
- Korea Economic Growth Holds Steady on Exports as Risks Loom.
- Australian Yields Fall as RBA Downplays Inflation Surprise.
- Yen Weakens to 33-Year Low Against US Dollar, Raising Intervention Risk.
- Brazil Congress Approves Bill to Tax the Rich, Raise Revenues.
- Nomura Redraws China Strategy, Cuts Jobs After Losses Deepen.
- US Stocks to Extend Slide, Yen Passes Key Level: Markets Wrap.
- Oil Steady After Surging as Israel Confirms Gaza Ground Invasion.
- Ford, UAW Reach Tentative Deal to End Autoworker Strike.
- NYC Mayor Warns of ‘Draconian’ Steps If Migrant Flow Continues.
- Vast Majority of Americans Are Sick of Climate Politics, Survey Finds.
- BofA’s DeMare Warns on ‘Dangerous’ Effects of Yields at 5%.
- Bond Market’s ‘Vicious Cycle’ Risk Puts Spotlight on Fed’s QT.
Zero Hedge:
- Mike Johnson Elected House Speaker
- Israel Delays Gaza Invasion (Again) As US Scrambles To Put Missile Defenses In Place
- "Brutal Tape": Goldman, JPM Traders Share Market Carnage Thoughts From The Front Line
- Multiple Mass Shootings In Maine Town, Suspect At Large.
- Watch: Hillary Clinton Snaps At Heckler Who Blasts Her Support For "War-Mongering" Joe Biden.
- Commodity Traders And Energy Giants Are Shockingly Detached From The Unfolding Middle Eastern Crisis.
- Technical Trouble.
- Oklahoma Lawmaker Wants ATF Agents Arrested, Prosecuted After Raid On Gun Dealer.
- As Mitsubishi Exits China, Other Japanese Automakers Consider Following Suit.
- Wall Street Vol Legend "50 Cent" Unveils His Top 2024 Trade With "Extraordinary Upside".
- Blinken Told Qatar To 'Tone Down' Al Jazeera's Biased Anti-Israel Coverage.
- Mega-Jolt: The Costs & Logistics Of Plugging In EVs Are About To Become Supercharged.
- The Toxic Brew That Is Going To Create Endless Chaos In The Streets Of America.
- Nukes & Pukes: Bullion, Black Gold, & Bitcoin Jump As Bonds & Big-Tech Dump.
Wall Street Journal:
- The Disgrace of the United Nations on Israel. The Secretary-General abandons Israel, a state the U.N. helped to create.
- Democrats Won’t Let Crisis Go to Waste. With conflict overseas, the White House sees yet another opportunity to increase domestic spending.
- Morgan Stanley Names Ted Pick as Next Chief Executive.
- Hamas Fighters Trained in Iran Before Oct. 7 Attacks.
- ‘Set It and Forget It’ 401(k)s Made You Rich. No More.
- Weapons Flood West Bank, Fuel Fears of New War Front.
- Airline Industry’s ‘Silent’ Struggle: Pilots and Mental Health.
CNBC.com:
- Meta’s ad rebound gets huge assist from China even though its services are banned there.
- Meta’s Reality Labs loses $3.7 billion in third quarter as Zuckerberg’s big bet keeps bleeding cash.
- Ford, UAW reach tentative deal to end labor strikes.
- IBM software sales up 8% as the company beats on top and bottom lines.
MarketWatch.com:
- Google’s stock sheds market cap the size of Nike in one of Wall Street’s five worst drops ever.
- The Nasdaq just fell into a correction. Now what?
- 10-, 30-year TIPS rates hit highest levels since November-December 2008.
- Facebook says Middle East war is hurting ad spending.
- Japanese yen sinks to weakest level against the dollar in a year as key BoJ meeting looms.
- Consumers are cutting back on dental visits, and that’s hammering this stock.
- ServiceNow’s stock jumps 5% on strong subscription sales.
Newsmax:
Fox News:
- Biden admin moves to curb western states’ water supply by nearly a trillion gallons.
- Rockets hit Israel, Saudi Arabia intercepts missile barrage out of Yemen as war escalates.
- Major ticketing company removes Riley Gaines event but allows pro-Hamas listings.
- FBI has received 'criminal information' from dozens of sources on Biden family.
TheGatewayPundit.com:
- 33 State Attorneys General Sue Meta Claiming Facebook, Instagram Cause Mental Illness, Body Dysmorphia.
- Grassley: FBI Received ‘Criminal Information’ From Over 40 Confidential Sources on Biden Family – FBI Washington Field Office Shut Down Reporting!
- BREAKING: House Republicans Elect Trump Ally Rep. Mike Johnson as the New Speaker of the House – 220 Votes! – DID NOT LOSE A SINGLE REPUBLICAN VOTE!
- Victor Reacts: School Bans Halloween For Being “Offensive”- They Ruin Everything!
- MUST SEE: Matt Gaetz Reveals the Dirty Details Behind the Republican Old Guard’s Attempt to Derail Mike Johnson’s Vote for House Speaker (VIDEO).
- Joe Biden Snaps at Reporter Who Asked About American Hostages During Disastrous Joint Presser with Australian Prime Minister (VIDEO).
- Beef Company CEO Stands Up To Big Pharma: “I’ll Shut Down the Company Before We Ship a Single Bag With mRNA-Injected Meat”.
- New House Speaker Mike Johnson Issues Statement Following Today’s Victory: A Commitment to Conservative Policy and Restoration of Trust.
- BREAKING: Far-Left NY Judge Engoron Threatens Trump with “Severe Sanctions” For Potentially Violating Gag Order.
- George Washington University Releases Statement on Palestinian Student Group’s Genocidal Anti-Israel Messages Projected on Campus Building.
- EXCLUSIVE: Nine of the 25 RINOs Who Voted Against Conservative Favorite Rep. Jordan Will Now Vote for Rep. Mike Johnson for House Leadership.
- Is the Switch Near? Governor Gavin Newsom Has Surprise Meeting With China President Xi Jinping (VIDEO).
- It Begins: ChatGPT Censors The Gateway Pundit’s Article about Brazilian Indigenous Political Prisoner Sererê.
- Breaking: Lt. General Mike Flynn Sues Andrew Weissmann, Nicolle Wallace and MSNBC for Knowingly Promoting Materially False and Malicious Statements.
The Epoch Times:
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 987,217 Reports(+1,799 from prior week) Through September 22nd, 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 technology and industrial shares in the region. I expect US stocks to open modestly lower and to maintain losses into the afternoon. The Portfolio is 25% net long heading into the day.
- Asian equity indices are -1.5% to -.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 136.5 +3.75 basis points.
- China Sovereign CDS 83.75 +1.75 basis points.
- China Iron Ore Spot 117.2 USD/Metric Tonne -.05%.
- Bloomberg Emerging Markets Currency Index 41.17 -.07%
- Bloomberg Global Risk-On/Risk Off Index 66.4 +2.3%.
- Bloomberg US Financial Conditions Index -.17 -1.0 basis point.
- Volatility Index(VIX) futures 20.7 +1.7%.
- Euro Stoxx 50 futures -1.10%.
- S&P 500 futures -.54%.
- NASDAQ 100 futures -.92%.
BOTTOM LINE: Asian indices are modestly lower, weighed down by technology and industrial shares in the region. I expect US stocks to open modestly lower and to maintain losses into the afternoon. The Portfolio is 25% net long heading into the day.