Today's Headlines

Around X:

• @Business 

• President Donald Trump’s administration is working behind the scenes on fallback options if the Supreme Court strikes down one of his major tariff authorities.
• Ukraine plans to hold talks in Switzerland with US officials on the potential parameters for a peace agreement with Russia, according to a senior Ukrainian official. 
• A Japanese official blasted China’s claims that Prime Minister Sanae Takaichi has altered Japan's position on a Taiwan crisis as “entirely baseless,” calling for more dialogue to stop ties between Asia’s top economies spiraling. 
• Japan's Defense Minister said Tokyo is on guard for any potential security crisis in the region. 
• What to Know About the COP30 Climate Deal.
• The breach, which happened Tuesday, includes personal contact information, donation details and other data from fundraising and alumni engagement, Harvard said on its website. 
• Bet on a football game, an election or the price a stock will hit hours from now. How gambling and investing are starting to look the same these days. 
• Division at the Federal Reserve has intensified in recent weeks, with officials staking out disparate positions ahead of the central bank’s December policy meeting — all while Chair Jerome Powell stays silent. 
• What happened to the global economy this week — in charts. 

• @Zerohedge 

• Any Ukraine-Russia peace plan has to: 1) Stop the killing while preserving Ukrainian sovereignty. 2) Be acceptable to both Russia and Ukraine. 3) Maximize the chances the war doesn't restart. Every criticism of the peace framework the administration is working on either misunderstands the framework or misstates some critical reality on the ground. There is a fantasy that if we just give more money, more weapons, or more sanctions, victory is at hand. Peace won't be made by failed diplomats or politicians living in a fantasy land. It might be made by smart people living in the real world. @JDVance. 
• State Department Sounds Alarm: Mass Migration Is an "Existential Threat To Western Civilization".
• *US MAY FIRST CONDUCT COVERT OPERATIONS ON VENEZUELA: REUTERS. 
• VTOL Air Taxi With Military Applications Flies On Hybrid Power For First Time. 
• Finely-Balanced Fed Meeting Faces Risk Wobbles & Distorted Data: Goldman. 
• Deutshe Bank: "In our reading, equity positioning is now underweight for the first time since July (-0.15sd, 34th percentile)."
• Lawmakers Want To Block US Purchases Of Chinese Chipmaking Equipment. 
• Trump Ends TPS For Somalis In Minnesota After Explosive Report Reveals Welfare Fraud Network Funding Overseas Terror. 
• EU-Digital Summit Exposes Europe's Innovation Crisis. 
• How Trump's Own Appointees Aided Russiagate Plot Against Him.
• New MAGA Weapon: 'Fight Tanks' For Rural America.

• @BarronsOnline

• Had bullish commentary on (BBAI) and (BMY).

• @IGSquawk 

• Weekend markets update: #DAX 23221 -0.06% #DOW 46288 -0.01% #NASDAQ 24298 +0.10% #FTSE 9580 +0.01% #HANGSENG 25496 +0.01% #EURUSD 11508 -0.05% #GOLD 4067 +0.05% #USOIL 5816 +0.30%.

• @WSJ

• A 3-year-old was put on ADHD meds for acting up in daycare. That was the first of six different psychiatric drugs. How a childhood of overmedication begins. 
• Mao Zedong once said that China must wield both the pen and the gun against its adversaries. It is a strategy China is now intensifying for Taiwan.
• The new nuclear race is here. But unlike during the Cold War, the U.S. must prepare for two peer rivals rather than one. 
• House leaders want to change the rules to rein in censure votes after a week of fighting
  .
• The remarks come a day after another another Fed official said there is room for a cut, and show the challenge Fed Chair Jerome Powell faces in trying to build consensus
  . 

• @CNBC  

• AI Christmas: The latest devices from Amazon, Meta, Google and more.
• These are the most oversold stocks in the market that are ripe for a near-term bounce.
• This week in AI: Brushing off new bubble warnings, Google’s AI comeback and Nvidia’s China threat. 
• New IRS reporting requirements will make a classic crypto 'tax cheat' risky starting with 2025 return. 
• The fast-casual bowl boom is over. Wall Street isn't sold on Cava, Chipotle deals to lure back spenders. 

• @MarioNawfal

• CANDACE OWENS: THE MACRONS HAVE TAKEN OUT A HIT ON ME. "Two days ago I was contacted by a high-ranking employee of the French Government. After determining this person’s position and proximity to the French couple, I have deemed the information they gave me to be credible enough to share publicly in the event that something happens.

• @LauraLoomer

• I predict millions of GOP voters are going to be sitting out 2026. It’s sad to see. Hopefully we are able to codify President Trump’s agenda, stop the judicial coup and get mass deportations before the Democrats win in 2026. We have less than one year before Dems win.

• @TheIntelSCIF

• TINA PETERS is in prison because she is a key witness to the stolen 2020 election. Tina Peters is now in solitary confinement, has a serious health condition, and needs to be released immediately. Many believe they are purposely doing this to end her life in prison to cover up their election fraud. What kind of prison system are we really running? This is going to look real bad if she isn't released and something happens to her. FREE TINA PETERS! (video)

• @zeeee_media

• So a court just essentially ruled Pfizer can go ahead with their plan to put “compliance ensuring” chips inside medicine? (video)

• @GunOwners

• @AGPamBondi just made the argument for banning EVERY HANDGUN IN AMERICA. (pic)

• @MikeBenzcyber

• USAID's Domestic Color Revolution Network. In this subscriber stream, I went through
  @DataRepublican's viral thread and added context, color & details about USAID cells plotting to use domestically the Dept of Dirty Tricks tactics they were formerly trained & tasked to do abroad. (video)

• @GenFlynn

• Thanks to @ShawnRyan762 for exposing two of the most disgusting games for kids, Roblox and Minecraft. Keep your kids away from them. (video)

• @LauraLogan 

• Are members of DOJ going after Ed Martin? Is this another example of how these agencies are occupied by subversives? BREAKING: DOJ Not Going After Adam Schiff, It’s Going After Ed Martin and Those Who Uncovered Schiff’s Mortgage Crimes!?! | Joe Hoft.

• @WallStreetApes

• Glenn Beck exposes the Islamic takeover of America. - America now has full-time Islamic schools, over 300 nationwide, many of them in Texas. - American kids spend hours memorizing the Quran. - These schools receive federal tax dollars to operate, example: Good Tree. Academy Quran first curriculum, segregated classes. In Texas - In the last 24 months. Dallas Fort Worth has 200 Islamic centers. - Houston another 100 plus Islamic centers. - The Muslim population ranges from 313,000 to 420,000. - Texas has Muslim only communities. - Texas has Sharia law compliant financing institutions. (video)
• BREAKING: FBI Director Kash Patel officially declares Thomas Crooks acted alone when attempting to assassinate Donald Trump in Butler, Pennsylvania. All these details discussed by Elon Musk and Joe Rogan are officially ‘nothing to see here’. (video) 

• @BreannaMorello

• BREAKING NEWS. Former Brazilian President Jair Bolsonaro has been taken into custody by federal police and is currently detained in Brasília. The Supreme Court order cited risks of him fleeing ahead of a more than 27 years prison sentence. The Brazilian Supreme Court is rigged with corruption. Pray for Bolsonaro.

• @C_3C_3

• Want your blood to boil? Lawrence Reed was arrested at least 49 times over 25 years and spent around 900 total days in prison for violent crimes. Tina Peters was arrested 1 time and was sentenced to 8 years for catching the Dems cheat in 2020. Our justice system is broken.

• @WesternLensman 

• Incredible exchange here as Hakeem Jeffries gets IRATE with CNBC’s Becky Quick for daring to press him on his robotic ACA talking points: Quick: *Cuts Jeffries off to try to make him actually answer a question* Jeffries: “You can ask the question, I’ll provide the answer!" Quick: "Answer the question, instead of going back." Jeffries: "I'm providing an answer in order to provide context!" Quick: "It's important context to make me realize that I don't think you want to get a deal done. I think this is something where you'd like to see the rates go higher and allow the Republicans to hang themselves with that." Jeffries: "That's absolutely a ridiculous assertion. Shame on you for saying that! It’s not a partisan issue for us!" Quick: *eyeroll* This guy absolutely loses it at ANY semblance of media pushback to his scripted, robotic regurgitations. (video)

• @RWMaloneMD

• Yep- The bill releasing the Epstein files was not about protecting victims or predators; it was written to protect the intelligence "community." Congress needs to pass a bill making the use of honeypots in any way, shape or form - by our government or other government's on our soil illegal. No exceptions.

• @JimFergusonUK

• BREAKING: New leaks suggest major gaps in the official narrative around the Trump shooter — and lawmakers are demanding answers. The New York Post has released new photos of Thomas Crooks, showing him posing with a handgun and a bolt-action rifle, along with screenshots of past online behavior — including violent posts and other disturbing details. None of this appeared in the congressional report. Two members of Congress now say Biden’s FBI restricted their access to key information, limiting what they were allowed to review during the investigation. According to them, the final report is incomplete because federal officials blocked crucial lines of inquiry. Their words — not mine: “We were stymied by what the feds let us look at.” “They didn’t tell the full story.” Whether the FBI withheld evidence intentionally or not is still unknown — but the fact that elected officials are openly saying they were stonewalled is extraordinary.

• @TheChiefNerd

• Rep. Tim Burchett Says the Falling Out Between MTG & Trump is Over Israel “They're in a complete disagreement right now … She's upset about the perceived control of Israel, and Trump's embracing of Israel.” (video)

• @EricLDaugh

• If the Republican Congress could pass universal voter ID, citizenship, and ban mass mail-in voting, the United States electoral map would shift HARD in favor of the Right. Just do it. Your concerns about Democrats "taking advantage" of no 60-vote filibuster in the Senate are moot when you consider they'd likely NEVER be able to win after our elections become 100% secure.

• @RenzTom

• I’ve always liked and respected @RealJamesWoods but is this a joke? Bondi needs more time? Sir, have you seen the Comey indictment? Did you watch the Diddy case? By this time under Biden hundreds of freedom loving Trump supporters were in jail for the FBI/Democrat led J6 hoax… we have done nothing against the leftist leadership behind the violence being perpetrated against ICE. And none of this even considers the outright lies from the AG on Epstein - who she ignored while acting as AG of Florida - or the massive fraud from Pfizer - who she represented as an attorney. I’m sorry but 11 months is more than enough time. Bondi is either corrupt or wildly inept. I don’t care which - she has to go and no PR spin in the world will change that. MAGA sees it and I’m terrified of what’s going to happen in the midterms if Trump doesn’t right the ship… we CANNOT afford Dem majorities that will inevitably impeach the President but the base is NOT going to come out unless we start seeing some REAL accountability. For our country I’m praying the administration wakes up and starts firing the new Pence/Barr like officials around Trump.

• @McBrideLawNYC

• The FBI claims Thomas Crooks never tagged or replied to Willy Tepes. That’s a lie. This screenshot from @mirandadevine’s reporting shows Crooks replying to and tagging him. Does @FBIDirectorKash’s FBI care about truth for @POTUS Trump? (pic)

• @PatriotMarkCook

• If anyone hasn't yet seen the @realtinapeters sentencing, YOU NEED TO. I have shown this to attorneys all over the Country. They have never seen anything like this. Not only is this 'judge' out of his mind, but Tina was not allowed to enter her EVIDENCE into her Trial, and even I who spent many many months investigating and uncovering all kinds of evidence, was not allowed to testify in her trial about anything except 'BIOS passwords'. If you want to see TRUE EVIL, here you go. And remember, this could be your wife, your mother, your grandmother. If these demons will do this to Tina, they will do it to ANYONE that dares to question expose their secrets. (video)

• @disclosetv

• NOW - Canada PM Carney says AI data centres must be carbon neutral, by paying carbon credits, "We need a price on carbon, I salute my neighbor, the European Union, in pricing carbon and putting in place a CBAM."

OpenVAERS:  

• VAERS US COVID Vaccine Adverse Event Reports. 1,026,944 Reports(+441 from prior report) Through August 29th, 2025.

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.

Evening Headlines

Around X:

• @Business 

• European leaders sought to buy time for Ukraine to work out a new ceasefire framework with Russia after the Trump administration set a one-week deadline to agree to terms. 
• International climate negotiators were weighing a potential compromise deal on a formal plan to shift the world’s energy system away from fossil fuels. 
• Italy achieved its first upgrade from Moody’s in more than 23 years, a victory for Premier Giorgia Meloni that ends an era when the country teetered at the brink of junk. 
• Japanese markets have had a turbulent week as both the yen and government bonds were pressured by fears sparked by Prime Minister Sanae Takaichi’s large spending plans.
• Billionaire hedge fund manager Bill Ackman is revving up a long-anticipated plan to hold an IPO for his Pershing Square, the Financial Times reported, citing sources.
• President Trump said he wants NYC Mayor-elect Zohran Mamdani to succeed after an Oval Office meeting that stressed their alignment on cost-of-living issues. “I expect to be helping him, not hurting him.” Trump said. “I want New York City to be great”. 
• Hedge funds were caught on the wrong side of a sharp two-day swing in the stock market, rushing to protect against losses on Thursday only to unwind those positions a day later as prices snapped back.
• RTX and Israeli defense firm Rafael win $1.25 billion contract to build surface-to-air missiles for Israel’s Iron Dome air-defense system at a new plant in Arkansas.
• More Americans are opting for a different kind of buzz to go with food and family this Thanksgiving. As state regulations around cannabis have loosened, it’s been spreading into everything—including holiday dinner.

• @Zerohedge 

• MAJOR BREAKING: The U.S. Supreme Court IMMEDIATELY OVERTURNS activist judge ruling that struck down Texas' new Republican-friendly 2026 Congressional map Justice SAM ALITO issued the order. The map is BACK, for now, while SCOTUS formally considers the appeal. Great news. Now KEEP it that way and overturn California's!
• 2 Chinese Nationals, 2 Americans Charged With Smuggling Nvidia Chips To China. 
• Marjorie Taylor Greene's message to Georgia’s 14th district and America. Thank you. 
• Studies Back Government On Childhood Gender Dysphoria. 
• Actually we still haven't seen a single new NPP break ground. China has 26 under construction. 
• The BLS confirmed there won't be an October US Inflation (CPI) release, while the November CPI will be delayed till Dec 18. Here is our data that's available all the time and updated daily: Truflation US Inflation (CPI) today: 2.41%. Truflation US PCE today: 2.36%. Truflation US Inflation aggregated since Jan 2020: 28.42%. 
• CDC Says Vaccines May Cause Autism.
• Nigerian Gunmen Abduct Over 200 Christian Children, 12 Teachers In Boarding School Attack. 
• Biden's Weaponization Of The DOJ Against GOP Lawmakers Was Worse Than We Thought. 
• US Issues NOTAM Flight Alert Of "Heightened Military Activity" Over Venezuela. 
• Don't Fall In The China Trap.
• Here's What Goldman's Top Traders Have Been Watching This Week. 
• JUST IN: Trump slaps Zohran Mamdani on the arm after a reporter asked him about calling Trump a fascist. Reporter: Are you affirming that you think Trump’s a fascist? Mamdani: I’ve spoke about… Trump: That’s okay you can just say yes. Lmao. 
• NVDA hammer at $180, MSFT at the 200-Day, GOOGL second chance and some more...
• This Is What It Looks Like When Doves Cry... 
• Treasury To Block Tax Credits For Illegal Immigrants Under New Trump Administration Rule. 
• Is there anything more Harvard than former President of Harvard University Larry Summers asking convicted child sex trafficker Jeffrey Epstein for sex advice on how to cheat in an affair with the daughter of a Chinese Communist Party official he worked with?

• @WSJ

• Bari Weiss’s approach to leading CBS News in her first weeks on the job is "I wanna blow this up." 
• Larry Summers’s enormous network of powerful people kept him immune to past Jeffrey Epstein revelations. But this time was just too much. 
• Despite signs of slowing, the U.S. economy isn’t barreling toward a cliff.
• China’s launch of a third aircraft carrier with advanced technology is a warning that Beijing’s ambitions are greater than hoisting a flag over Taipei. Credit the Trump Administration for taking a step for deterrence in the Taiwan Strait. 
• President Trump has said he wants Ukraine to agree to a 28-point peace plan by Thanksgiving. Here’s a breakdown of some of the key points and how Ukraine and its European allies might respond.   
• Exclusive: Tyson Foods, America’s largest meat supplier, is planning to close one of its largest beef-processing plants in Nebraska at a time when a cattle shortage in the U.S. squeezes meatpacking companies.
• The IRS signaled that it is relaxing enforcement of the new “no tax on tips” law, allowing more workers to potentially take advantage of the break.  

• @CNBC  

• Wall Street heads into Thanksgiving week with questions over AI trade, Fed rate cut.

• @nixksortor

• BREAKING: An assistant Virginia high school principal and his brother have just been arrested for plotting to ASSASSlNATE ICE agents. VioIent leftists aren’t just teaching at our schools — they’re ADMINISTERING them. These people should be NOWHERE NEAR America’s children. (video)

• @bennyjohnson

• Rep. Tim Burchett says Epstein’s reach is so deep, it’s as if he’s running Congress from behind the scenes, with a majority of members compromised to hold power: "It's about keeping members of Congress in power. The deal-cutting. It’s infected both parties. They are compromised. You think people are going to do the right thing and then they don't. They vote to protect a pedophile co-conspirator." (video)

• @ExxAlerts

• ALERT: Stardust Solutions, a 25-person Israeli-U.S. startup, is developing special reflective particles aimed at “blotting out the sun” to combat global warming. They plan to release millions of tons of these particles to dim sunlight worldwide.

• @MJTruthUltra

• Lord have mercy… #BREAKING — 52 Catholic school students has been KIDNAPPED from St. Mary's in Papiri, Nigeria. A ransom of $69,000 per child has been demanded. Pray for these children.
• Nebraska — Foreign Billionaire Dumps Nearly HALF A BILLION Dollars into US Elections to turn States Blue. • Attorney General Mike Hilgers Discusses the Foreign Influence in U.S. Elections. • A Swiss billionaire named Hansjörg Wyss has donated tens of millions of dollars to Democratic politicians and progressive causes in “dark money” contributions. (video)
  

• @BreannaMorello

• They’re just running the clock down at this point. Codify nothing—serve Americans a bullshit legislative salad. (video)

• @disclosetv 

• NEW - France's top military officer called for a willingness to sacrifice children and urged cities to prepare for potential war. (pic)

• @amuse

• TRAITORS: Trump’s disgraced former CIA Director Mike Pompeo kept the president in the dark while giving Rep Adam Schiff a private workspace inside the CIA to hunt for classified intel that could be used to oust him. John Brennan’s notes indicate Pompeo, Durham, Bolton, and Haspel hid exculpatory information that cleared President Trump, keeping the truth from both him and the public.
• TERROR: New reporting says Minnesota fraud networks stole millions from welfare programs and funneled funds to Somalia, where some reached Al Shabaab terrorists. US Attorney Thompson calls the crisis staggering. Walz is silent. 

• @JimFergusonUK

• WOW. You actually can’t make this up… Hakeem Jeffries just stood in front of the cameras and claimed: • “It’s a lie.” • “It’s a clown show.” • “I never met Epstein.” • “I never took his money.” Except… the financial records exist. The emails exist. The transactions are documented. You can deny reality, but you can’t erase a paper trail. (video)

• @WarClandestine

• Zelensky and his Deep State handlers DESPERATELY do not want an audit into where the funds went in Ukraine. Why? Because the money trail will lead back to people like Biden and Obama. Biden said so himself. The Deep State are hiding unfathomable criminality in Ukraine. (video)

• @Laralogan

• How bad are the problems veterinarians are seeing with pet vaccines? Dr. Eva DeCozio says the warning signs started decades ago. More reactions. More autoimmune issues. Tiny dogs overloaded with multiple shots. Sick animals still being vaccinated. Basic immunology ignored. She also explains the long history of nosodes, small natural immune stimulants used long before modern vaccines, and why that knowledge quietly disappeared. These are the clinical changes she has seen over thirty years. And almost no one is talking about it.

• @EricLDaugh

• BREAKING: In an incredible victory, Novartis is now building a manufacturing hub in North Carolina with a nearly $1 BILLION investment. In a blow to China, the company wants ALL of its medicines produces from start to finish in the USA. Thank you PRESIDENT TRUMP!
• JUST IN: Exposing themselves, Democrats announce their 2026 midterm campaign platform is impeaching and removing from office President Trump. "We cannot allow anything to get in the way of impeachment, conviction, and removal. That's what this is about." Well, there it is. Not affordability. Not gas or egg prices. Not lowering taxes, or solving wars. Removing Orange Man from office. "That's what this is about." Your choice, Americans. (video)

• @BasedJess05

• Robert F. Kennedy Jr. reveals that BlackRock is quietly acquiring control of the meat and pharmaceutical markets. “BlackRock owns all the meat packers. There's only 4 meat packers in this country. BlackRock owns them all. You can say to them, you need to do an antitrust suits against those meat packers. The meat packers are keeping the price of meat high and the price of cows low. So the farmer gets hurt, the consumers get hurt and they make the money 'cause they've got a monopoly.” “BlackRock owns all the pharmaceutical companies and we can start regulating the pharmaceutical companies so that they behave less like a cartel.” (video)

• @RenzTom

• So we need to ask the President, who is the boss? I voted for Trump - not a lobbyist with ties to pharma, the WEF, and CCP controlled companies. Does anyone think this might explain why RFK hasn’t pulled mRNA from the market? Does anyone think this might explain why Trump is doing so many peculiar things? Just wondering… (video)

• @ShannonJoyRadio

• This is a BOMBSHELL: Sasha Latypova reveals that @RobertKennedyJr admitted to her (in a phone conversation in May 2025) that he knows he has the power to unilaterally end the HHS emergency declaration for COVID and get the shots off the market immediately ... But he won't do it because he works for Trump. "RFK Jr. could end Pharma’s liability shield for Covid shots with the stroke of a pen." (video)

• @robinmonotti

• The entire UN 2030 Agenda rests on one cornerstone: your voluntary adoption of Digital ID. As Whitney Webb powerfully argues, they are investing billions to sell you on its "convenience." They'll pitch it as the solution to illegal migration, voter fraud, and cybercrime. But this is a sales pitch for a surveillance prison. Digital ID is the essential key that unlocks: - Programmable, surveillable central bank digital currencies (CBDCs). - The framework for a social credit score system. - Predictive "pre-crime" policing and "pre-pandemic" healthcare mandates. They learned from the vaccine passport rollout. The strategy is the "carrot," not the "stick"—making compliance easy and resistance seem inconvenient. They want you digitally dependent, isolated, and connected only through the virtual world they control. But their greatest fear is our non-compliance. The power remains with us. We must build resilient, real-world lives and communities that function outside of this. (video)

• @ValerieAnne1970

• WARNING: The USDA greenlit SELF-AMPLIFYING mRNA shots for our dogs & cats. Veterinarians Across The Country Are Injecting sa-mRNA Into Our Pets. Yes, the same technology that wreaked havoc with COVID jabs—now in your pet's veins. And it's one step more sinister...these are Self-Amplifying!! Is this "protection" or a lab experiment on our furry family? Key red flags that should STOP you in your tracks: (video)

• @newstart_20124

• Megyn Kelly & FDA Chief on COVID Accountability. In a striking interview, Megyn Kelly pressed FDA Commissioner Dr. Marty Makary on a critical question: Was there a deliberate cover-up of COVID vaccine risks by agencies like the FDA and NIH? Kelly suggested officials may have "scrubbed the record" before departing, but questioned if any evidence of misconduct remained. Dr. Makary’s response was a stunning admission. He confirmed that officials were, in fact, "sitting on data" concerning myocarditis in young, healthy individuals—and failed to act in a timely manner. (video)

• @Sassafrass_84

• I agree. President Trump should invoke the Judiciary Act of 1802. Speaker Johnson isn't doing his job. We can't make change in America with radical activists in our government.

• @Partisan_12

• ‘Thousands of children were RAPED… where are the rapists? ‘Why aren’t they in jail?’ Tucker goes OFF on Pam Bondi’s handling of the Epstein Files. (video)

• @NationalFile

• Former China Lobbyist Susie Wiles Continues Reign of Terror in Trump's White House. The family at the center of compromising President Trump's first term has managed to further cement their influence in the administration of the 47th president.

OpenVAERS:  

• VAERS US COVID Vaccine Adverse Event Reports. 1,026,944 Reports(+441 from prior report) Through August 29th, 2025.

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.

Weekly Scoreboard*

 

S&P 500 6,632.3 -1.7%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weekly Market Wrap by Edward Jones.

Indices

• DJIA 46,388.4 -1.4%

• NASDAQ 22,401.6 -2.0%

• Russell 2000 2,378.1 -.8%

• NYSE FANG+ 15,888.4 -3.1%

• Goldman 50 Most Shorted 226.7 -3.1%
• Vaneck Social Sentiment 30.6 -7.7%

• Wilshire 5000 65,319.6 -1.4%

• Russell 1000 Growth 4,623.7 -2.6%

• Russell 1000 Value 2,000.2 -.7%

• S&P 500 Consumer Staples 869.7 +.9%

• Bloomberg Cyclicals/Defensives Index(Ex Telecom) 249.0 -2.1%
  

• NYSE Technology 6,868.8 -5.6%

• Transports 16,063.4 -.3%

• Utilities 1,108.7 -.2%

• MSCI Europe Banks 101.2 -2.8%
  

• MSCI Emerging Markets 53.1 -3.1%

• Credit Suisse AllHedge Long/Short Equity Index 248.0 -.1%

• Credit Suisse AllHedge Equity Market Neutral Index 127.7 +.9%

Sentiment/Internals

• NYSE Cumulative A/D Line 575,785 -1.2%
• Nasdaq/NYSE Volume Ratio 10.3 -45.2%

• Bloomberg New Highs-Lows Index -650 -643

• Crude Oil Commercial Bullish % Net Position -12.4 n/a

• CFTC Oil Net Speculative Position 103,300 +.3%

• CFTC Oil Total Open Interest 2,006,358 +3.6%

• Total Put/Call .86 -4.4%

• OEX Put/Call 1.63 -35.1%

• ISE Sentiment 115.0 -5.8%

• NYSE Arms .91 -5.71%
  
• Bloomberg Global Risk-On/Risk-Off Index 84.7 -5.7%
• Bloomberg US Financial Conditions Index .14 -35.0 basis points
• Bloomberg European Financial Conditions Index 1.16 -13.0 basis points

• Volatility(VIX) 23.2 +18.5%
• S&P 500 Intraday % Swing 1.65 -14.2%

• CBOE S&P 500 3M Implied Correlation Index 21.0 +20.0%

• G7 Currency Volatility (VXY) 7.47 +.5%
  

• Emerging Markets Currency Volatility (EM-VXY) 6.5 -.8%

• Smart Money Flow Index 22,157.8 -5.1%
• NAAIM Exposure Index  86.6 -1.3

• ICI Money Mkt Mutual Fund Assets $7.522 Trillion -.21%

• ICI Domestic Equity Long-Term Mutual Fund/ETFs Weekly Flows +$7.334 Million

• AAII % Bulls 32.6 +3.2%

• AAII % Bears 43.6 -11.2%
• CNN Fear & Greed Index 10.0 (EXTREME FEAR) -14.0

Futures Spot Prices

• CRB Index 297.6 -1.6%

• Crude Oil 57.9/bbl. -3.4%

• Reformulated Gasoline 187.7 -6.4%

• Natural Gas 4.59 +2.0%
• Dutch TTF Nat Gas(European benchmark) 30.2 euros/megawatt-hour -2.8%
  

• Heating Oil 244.3 -2.9% 
• Newcastle Coal 114.3 (1,000/metric ton) +2.5%

• Gold 4,087.7 +.01%
• Silver 50.4 -.4%
  

• S&P GSCI Industrial Metals Index 498.4 -1.3%

• Copper 501.7 -.6%

• US No. 1 Heavy Melt Scrap Steel 356.0 USD/Metric Tonne +.3%

• China Iron Ore Spot 104.0 USD/Metric Tonne -.2%
• China Battery Grade Lithium Carbonate 11,475.0 USD/metric tonne +5.0%

• CME Lumber  534.5 -4.5%

• UBS-Bloomberg Agriculture 1,338.0 -1.1%
• US Gulf NOLA Potash Spot 317.5 USD/Short Ton -.8%

Economy

• Atlanta Fed GDPNow Q2 Forecast +4.2% +.2 percentage point

• US Recession Within 6 Months Probability(3M/18M Forward Yld Curve Spread) 36.8 +.4 percentage point

• NY Fed Real-Time Weekly Economic Index 2.3 +18.0%

• US Economic Policy Uncertainty Index 423.1 -65.5%
• Bloomberg Global Trade Policy Uncertainty Index 1.5 -5.3%
• DOGE Total Taxpayer Dollars Saved $214.0 Billion($1,329.19 Savings Per Taxpayer) unch.
• S&P 500 Current Quarter EPS Growth Rate YoY(474 of 500 reporting) +13.1% +1.6 percentage points

• S&P 500 Blended Forward 12 Months Mean EPS Estimate 303.04 +1.09:  Growth Rate +12.7% -2.7 percentage points, P/E 21.6 -.7
• S&P 500 Current Year Estimated Profit Margin 13.51% +1.0 basis point
• NYSE FANG+ Current Quarter EPS Growth Rate YoY(8 of 10 reporting) +17.6% +7.6 percentage points
• NYSE FANG+ Blended Forward 12 Months Mean EPS Estimate 501.64 +3.79: Growth Rate +23.5% +1.0 percentage point, P/E 31.4 -1.4

• Citi US Economic Surprise Index 11.0 +1.3 points

• Citi Eurozone Economic Surprise Index 18.0 -12.8 points

• Citi Emerging Markets Economic Surprise Index 29.7 +1.7 points

• Fed Fund Futures imply 69.5%(+25.1 percentage points) chance of -25.0 basis point cut to 3.5-3.75%, 30.5%(-25.1 percentage points) chance of no change, 0.0%(unch.) chance of +25.0 basis point hike to 4.0-4.25% on 12/10/25

• US Dollar Index 100.2 +1.0%

• MSCI Emerging Markets Currency Index 1,833.5 -.3%
  

• Bitcoin/USD 84,225.1 -9.6%

• Euro/Yen Carry Return Index 203.9 +.3%
• Swiss Franc/Offshore Chinese Renminbi Cross 8.80 -1.7%

• Yield Curve(2s/10s) 54.75 +1.25 basis points
  

• 10-Year US Treasury Yield 4.06% -8.0 basis points

• Federal Reserve's Balance Sheet $6.508 Trillion -.4%
• Federal Reserve's Discount Window Usage $6.299 Billion -6.5%

• U.S. Sovereign Debt Credit Default Swap 35.1 -.6%
  

• Illinois Municipal Debt Credit Default Swap 200.1 +3.5%
  

• Italian/German 10Y Yld Spread 76.0 +1.0 basis point
• UK Sovereign Debt Credit Default Swap 20.2 +1.0%

• China Sovereign Debt Credit Default Swap 48.3 +9.7%
  

• Brazil Sovereign Debt Credit Default Swap 146.0 +2.8%
  

• Israel Sovereign Debt Credit Default Swap 67.6 -2.7%

• South Korea Sovereign Debt Credit Default Swap 23.8 +6.9%

• China Corp. High-Yield Bond USD ETF(KHYB) 24.5 unch.
• China High-Yield Real Estate Total Return Index 121.4 -.2%
  

• Atlanta Fed Low Skill Wage Growth Tracker YoY +3.8% unch.
• Zillow US All Homes Rent Index YoY +2.5% -10.0 basis points
• US Urban Consumers Food CPI YoY +3.1% unch.
• CPI Core Services Ex-Shelter YoY +3.3% unch.
• Cleveland Fed Inflation Nowcast Core PCE YoY +2.85% unch.: CPI YoY +2.96% unch.
• 1-Year TIPS Spread 2.56 -9.0 basis points
• 10-Year TIPS Spread 2.25 -5.0 basis points

• Treasury Repo 3M T-Bill Spread -3.5 basis points +6.0 basis points
• 2-Year SOFR Swap Spread -22.25 -.75 basis point

• 3-Month EUR/USD Cross-Currency Basis Swap -4.75 +.25 basis point

• N. America Investment Grade Credit Default Swap Index 54.4 +1.7%
  

• America Energy Sector High-Yield Credit Default Swap Index 193.0 +1.9% 
• High-Yield Tech Sector OAS Index 440.5 +2.9% 
• Bloomberg TRACE # Distressed Bonds Traded 242.0 +23.0 
  

• European Financial Sector Credit Default Swap Index 60.1 +2.2%

• Emerging Markets Credit Default Swap Index 139.2 +.7%
  

• MBS 5/10 Treasury Spread 131.0 +2.0 basis points
• Bloomberg CMBS Investment Grade Bbb Average OAS 614.0 unch.
• Avg. Auto ABS OAS .58 +1.0 basis point

• M2 Money Supply YoY % Change +4.5% unch.

• Commercial Paper Outstanding $1,300.1B -1.2%

• 4-Week Moving Average of Jobless Claims 224,250 -1.3%

• Continuing Claims Unemployment Rate 1.3% unch.
• Kastle Back-to-Work Barometer(entries in secured buildings) 54.7 -.3%
  

• Average 30-Year Fixed Home Mortgage Rate 6.34% +5.0 basis points

• Weekly Mortgage Applications 316,900 -5.2%

• Weekly Retail Sales +6.0% +.1 percentage point
• OpenTable US Seated Diners % Change YoY +9.0% +3.0 percentage points
• Box Office Weekly Gross $114.1M +40.8%

• Nationwide Gas $3.09/gallon +.01/gallon

• Baltic Dry Index 2,270.0 +6.8%
• Drewry World Container Freight Index $1,851.8/40 ft Box -.4%
  

• China (Export) Containerized Freight Index 1,122.8 +2.6%

• Oil Tanker Rate(Arabian Gulf to U.S. Gulf Coast) 75.0 unch.
• Truckstop.com Market Demand Index 53.8 -10.5%

• Rail Freight Carloads 270,779 +.7%
• TSA Total Traveler Throughput 2,493,309 +31.1% 
• Rasmussen Reports Daily Presidential Approval Tacking Poll 47.0% +3.0 percentage points

Best Performing Style

• Small-Cap Value -1.2%

Worst Performing Style

• Large-Cap Growth -2.6%

Leading Sectors

• Pharma +2.3%

• Biotech +2.0%
• Regional Banks +1.6%

• Medical Equipment +1.2%
  

• Homebuilding +1.1%
  

Lagging Sectors

• Software -5.9%

• Networking -6.0%
  

• Alt Energy -6.6%

• Electrification -7.8%
  

• Computer Hardware -11.6%
  

Weekly High-Volume Stock Gainers (81)

• NVRI, HLF, RXST, AZTA, QDEL, ADPT, MAGN, WSC, TXG, CAVA, DFH, CAL, RH, PRKS, TNDM, VFC, VAC, GRAL, ASGN, KYIV, NRIX, FA, W, PRCT, DNOW, DOCS, RVLV, DJCO, XPO, GAP, MBUU, VCYT, CNXC, WGS, MTH, ASTH, EMBC, DHI, ROST, LITE, OFIX, MBC, ODFL, SONO, NRDS, ALGN, LEN, GLIBK, CPRI, AXTA, BV, OC, ZD, IR, CNMD, TREE, CELC, ZG, INTU, ON, BFH, CSTL, GFF, CTSH, KLIC, TCMD, POOL, NSP, MHO, DAL, IDXX, PCAR, PPG, CLX, UGI, BCC, CSL, ACN, CUK, WMG and RUSHA

Weekly High-Volume Stock Losers (12)

• MNR, GLXY, POST, WIX, BBWI, ORCL, BE, PXED, NGVC, VEEV, ESTC and SUPX

ETFs

• High-Volume Gainers

• High-Volume Losers

Stocks

• High-Volume Gainers

• High-Volume Losers

*5-Day Change

Stocks Surging into Afternoon on US Economic Data, Rising Fed Rate-Cut Odds, US Loosening NVDA/China Chip Sale Constraints Speculation, Consumer Discretionary/Transport Sector Strength

Overseas Futures:

• Nikkei 225 Futures: Indicating +185 open in Japan 
• China A50 Futures: Indicating +25 open in China

• DAX Futures: Indicating +152 open in Germany

Portfolio:

• Higher: On gains in my tech/industrial/consumer discretionary/biotech/utility sector longs and emerging market shorts
• Disclosed Trades: Covered some of my (IWM)/(QQQ) hedges
• Market Exposure: Moved to 100% Net Long

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

Earnings of Note 
Company/Estimate 

Before the Open:

• None of note

After the Close: 

• (A)/1.58
• (BLBD)/1.05
• (CENT)/-.20
• (KEYS)/1.83
• (SMTC)/.44
• (SYM)/.06
• (WWD)/1.88
• (ZM)/1.44

Economic Release 

8:30 am EST

• The Chicago Fed National Activity Index for Oct. 

10:30 am EST

• The Dallas Fed Manufacturing Activity Index for Oct. 

12:00 pm EST

• Fed releases annual revision to Industrial Production. 

Upcoming Splits

• None of note

Other Potential Market Movers

• The 2Y T-Note auction could also impact global trading on Monday.

US Equity Market Hours

• 9:30 am - 4:00 pm EST

Friday Watch

Night Trading 

• Asian equity indices are -2.5% to -1.5% on average. 
• Asia Ex-Japan Investment Grade CDS Index 70.0 +2.5 basis points.
• China Sovereign CDS 48.0 +3.0 basis points.
• China Iron Ore Spot 103.7 USD/Metric Tonne -.3%. 
• Swiss Franc/Offshore Chinese Renminbi Cross 8.83 +.01%.
• Bloomberg Emerging Markets Currency Index 36.1 -.05%.
• Bloomberg Global Risk-On/Risk Off Index 83.2 -1.9%.
• US 10-Year Yield 4.09% +1.0 basis point.
• Volatility Index(VIX) futures 22.2 -2.9%.
• Euro Stoxx 50 futures -1.3%. 
• S&P 500 futures +.43%.
• NASDAQ 100 futures +.38%.

Morning Preview Links

BOTTOM LINE: Asian indices are lower, weighed down by industrial and technology 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.