Tuesday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 96.5 -1.75 basis points.

• China Sovereign CDS 66.25 -.5 basis point.
  
• China Iron Ore Spot 109.5 USD/Metric Tonne -.21%.

• Bloomberg Emerging Markets Currency Index 39.0 -.06%.
• Bloomberg Global Risk-On/Risk Off Index 61.1 +.9%.
• Volatility Index(VIX) futures 14.4 -.21%.
• Euro Stoxx 50 futures -.06%.

• S&P 500 futures -.17%.

• NASDAQ 100 futures -.33%.  

Morning Preview Links

BOTTOM LINE: Asian indices are mostly lower, weighed down by industrial and financial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed.  The Portfolio is 75% net long heading into the day.

Monday Watch

Today's Headlines

Bloomberg:   

• Marine Le Pen Crushes Macron — Again: Special Balance of Power.
• French Turnout Highest in Nearly 40 Years in Snap Election.
• China Factory Activity Shrinks Again in Warning to Economy. 
• Why China’s Central Bank Could Become More Like the Fed.
• Japan’s Solid Business Sentiment Keeps July Rate Hike on Table
• High-Speed Traders, Short Sellers Face Growing Asia Crackdown.
• Fed’s Rate-Cut Delay Won’t Hold Back the Tide of Global Easing. 
• Euro Gains on Le Pen Bets, China Eyed After PMI.
• CLOs Have Too Much Money and Are Running Out of Things to Buy.
• Apple’s Devices Are Lasting Longer, Making AI Strategy Even More Critical.
• Bitcoin Investors Begin to Ponder What’s Next After ETF Mania Cools.
• Where Stock Market Is Headed After Wild First Half: Five Charts. 
• 24-Hour Stock Trading Is Booming – and Wall Street Is Rattled.
• Five Key Charts to Watch in Global Commodity Markets This Week.

Zero Hedge: 

• Le Pen Is Mightier: Conservative National Rally Crushes Macron, Socialists In 1st Round Of French Election.
• Hartnett: The Experts Are All Wrong About Inflation Under A Trump Presidency.
• Can Democrats Replace Biden? It's Complicated...
• "The Ultimate Uncertainty": Nearly Half Of EV Owners Want To Go Back To Gas-Powered Cars.
• Price Action Indicates Lack Of Any True Conviction Or Depth Of Liquidity.
• Retiring Wealthy Now Means More Than $3 Million In Many U.S. States.
• California Has Seized Nearly 7 Million Fentanyl Pills Since January.
• Weekend News Round Up - Newsquawk Asia-Pac Market Open.
• IRS, Treasury Announce New Crypto Tax Reporting Rule For Brokers.
• The Housing Tide Starts Turning: National Inventory Rose 4% In Q1 2024. 
• Watch: Just Another Night In Gavin Newsom's California.
• All Eyes On Kamala.
• France's High-Stakes Election Begins With Surge In Voter Turnout.
• The Fed-Induced Housing Crisis.
• The "EU Defense Line" Is The Latest Euphemism For The New Iron Curtain.
• The 10 charts that you might have missed over the weekend.
• Here's Why These Troubling Trends Mean Mass Chaos Is Likely Coming To The West...
• Ignore These Underweights At Your Own Risk.
• Bull Market In Everything.
• The "Just Fine" Bull Market.
• Don't Let The Elite Get Away With Gaslighting That They Didn't Know About Biden's Senility.
• Are MTA Subway Tracks In Queens Being Held Together By Zip Ties.
• Trump Sentencing Will Put Merchan's Bias In Crosshairs.
• Pentagon Exposes Biden Lie That Troop Deaths Haven't Occurred Under His Watch.
• Magical, Mysterious, And Sometimes Dangerous Food Ingredients That Are Impossible To Pronounce.
• Did Fauci Admit That School Closures Were A Mistake?
• The Art Of Being Eternally Shocked: How The Press And Pundits Are Again Mystified By The Obvious.
• Iran Threatens Israel With 'Obliterating War' If It Attacks Lebanon.
• CDC Recommends New COVID-19 Vaccines For Nearly All Americans.

Wall Street Journal:

• Democrats Fret Over Impact of Biden’s Debate Performance On House, Senate Races.
• Even a Cooling Labor Market Often Ends With a Recession.
• Behind Davos, Claims of a Toxic Workplace.
• The 51 Intel Know-Nothings. New revelations on the 2020 attempt to suppress the Hunter Biden laptop story.
• Joe Biden and America’s Out-of-Control Spooks. The president should step aside rather than find out how the deep state would save his candidacy. 
• It’s Home-Building Season, but No One Is Buying Lumber.
• How Iran Defied the U.S. to Become an International Power.
• How Tractor Supply Decided to End DEI, and Fast.
• The Quarter That Split the Market, in Charts.
• Amazon, Built by Retail, Invests in AI Future.
• Would Gavin Newsom Beat Trump? Don’t Bet on It. Winning is easy in a one-party state. In a national race, he’d have to answer for his terrible record. 

CNBC:  

• ‘Inside Out 2’ tops $1 billion at the global box office.
• Move over, remote jobs. CEOs say borderless talent is the future of tech work.
• Failure to meet data center energy demand will jeopardize economic growth, utility executives warn.
• A key to Biden’s lagging wind energy goal will set sail after the election.
• Hurricane Beryl forecast to become a Category 4 storm as it nears southeast Caribbean. 
• France’s far-right National Rally seen leading in first round of snap election, exit polls show.

MarketWatch.com:  

• Student loan borrowers share their ‘roller-coaster’ year since the Supreme Court struck down Biden’s debt-forgiveness plan.
• Here’s what to watch in the first round of France’s parliamentary elections.
• As jobs get harder to find, stocks could be in trouble after best first half to an election year in half century.
• Boeing reportedly agrees to buy supplier Spirit Aerosystems for $4.3 billion.

NewsMax:

• Top Democrats Rule Out Replacing Biden.
• UN Starts to Move Tons of Aid From US-Built Pier. 
• Rep. D'Esposito: Debate Showed Biden Not Running Country.

Fox News:

• Climate change craziness has a new target and it's more shocking than ever.
• Illegal immigrant faces murder charges after disturbing video captures grim moment on tape.
• Astronaut who shared powerful pro-America speech before big launch now 'stuck' in space.

TheGatewayPundit.com:

• 79,000 DACA Recipients Were Approved Despite Arrest Records, Some Arrested 10x or More.
• “We Are Good Men” Podcast Directly From Inside the DC Gulag Featuring J6 Political Prisoner (Video). 
• Germany: Violent Antifa Street Militia Try to Shut Down AfD Convention, 28 Police Officers Injured, One Critically. 
• REPORT: Joe Biden Set Up to Fail in Debate As Part of “Soft Coup” – Michigan Governor Gretchen Whitmer Makes “Secret” Move to Prepare for Possible Presidential Run
• Beautiful… Leftists Eating Their Own: Furious Keith Olbermann Calls for CNN Be Literally Burned Down for Not Assisting Biden During Disastrous Debate Performance (VIDEO).
• LOCAL ELECTION WARRIORS in Hawaii Continue to Fight Against Corrupt Elections System.
• RFK Jr. Leaves Dr. Phil Stunned As He Explains Huge Kickbacks Fauci and NIH Have Earned From Moderna Vaccines (VIDEO).
• Trouble in La La Land: ‘Freaked-Out’ Big-Money Hollywood Donors Threaten to Cut Off Democrat Party Unless Joe Biden is Replaced as Nominee.
• Tommy Tatum Arrested by Chris Wray’s FBI 3 Years After Jan. 6 – Police Pushed Him Down, Smothered Him, and Nearly Killed Him… THEN OMIT THIS IN THEIR REPORT! – They Were Angry He Called Out the Wickedness of the Police in Jesus’s Name… Please Donate!
• ‘Democrats Definitely Have a Problem’: Liberal Polish Allies Throw Biden Under the Bus – Indian PM Modi Said To Prefer Trump.
• New Poll Finds Trump With Slight Lead Over Biden in New Jersey.
• “Keep the Faith”: Bizarre Biden Campaign Email Sent to Buck Up “Bedwetting” Supporters Includes Poll Showing Trump Beating Biden and Every Other Democrat.
• Billionaire David Sacks Perfectly Describes What Democrats and the Biden Regime Have Become: ‘The Mask Has Come Off’ (VIDEO).
• Former Clinton Official Paul Begala Warns First Dem Politician Calling for Biden to Step Down Will ‘End Their Career’ (Video). 
• Steve Bannon Will Host War Room Outside Federal Prison on Monday – Calls On Merrick Garland to Tune in (VIDEO).

The Epoch Times:

• Taiwan Investigates Reports of Communist China’s Influence at Local TV Station.
• Germany Has Shifted China Strategy Amid Beijing’s Changing Behavior: German Diplomat.
• Who Will Rescue 1.4 Billion Hostages in Communist China?
• CCP Could Use South China Sea Tensions to Gauge US Response to Its Allies: Experts.

Around X:

• @libsoftiktok

• Woman whose husband died while he was deployed overseas blasts Biden for claiming at the debate that no service members died while he was president. Heartbreaking. (video)

• @CollinRugg

• NEW: Police cruiser appears to drive by at the exact moment an illegal immigrant from Ecuador carries the limp body of a woman out of an Airbnb in Syracuse. Jhon Moises Chacaguasay-Ilbis is accused of k*lling Joselyn Jhoana Toaquiza on her birthday. Footage shows the illegal hauling her body out of the house. As he carried her limp body on his back, a police cruiser drove by, appearing to not realize what was going on. (video)

• @EndWokeness 

• His GPA score is 97.3%, SAT score is 1560, enrolled in a top high school, does tons of extracurricular work. He was rejected by multiple colleges. They call this equity and inclusion. (video)

• @TheChiefNerd
  

• Chamath Palihapitiya & David Sacks on What the Biden Debate Revealed. "The mask has come off. The whole shell game has been revealed. It's obvious that Biden was always a puppet for these interests who were hiding behind him and now it's all being exposed." (video)

• @wideawake_media

• World Economic Forum managing director, Gim Huay Neo: "Beyond carbon [taxes], let's think about other aspects of nature that are easier to quantify... What about water?"
  

• @toobaffled
  

• Again & again from Professional Athletes in their peak to the groundsmen who monitor the Games. As a flagsman "Suddenly" Collapses on the pitch during Match: Peru - Canada June 2024. (video)

• @JamesMelville 

• “British cows could be given methane blockers to cut climate emissions.” And guess who is investing in methane blockers for cows. Yes, it’s him again - Bill Gates. (pic)

• @JohnRuddick2

• Hi Pfizer CEO, Albert Bourla. This is the wife of the former boss of the Australian Medical Association: ‘It’s been three years since I had that Pfizer shot. It has ruined my life.’ (video)

• @newstart_2024

• Welcome to the world's first meat tax. 1. Farmers will be charged up to £200 per cow as a "flatulence tax" 2. Price of beef mince will rise by 23p per kilo 3. Danish government wants it rolled out across Europe. (video)
• McDonald’s has decided to scrap selling Bill Gates’ synthetic meat burgers after millions of customers complained that the fake meat product tasted disgusting and made them feel ill. Joe Erlinger, McDonald’s U.S. president, told the Wall Street Journal Global Food Forum that the burger was a huge flop with customers. Greatgameindia reports: Following the failure of a test of its McPlant burger in San Francisco and Dallas, a top executive at McDonald’s has stated that the company has no intentions to reinstate plant-based choices. “It was not successful in either market,” said Joe Erlinger, McDonald’s U.S. president, during the Wall Street Journal Global Food Forum in Chicago on Wednesday.

• @Artemisfornow

• WEF - Humans should be charged for the air we breathe. For a couple of years now the UN has muted the power grab of all natural assets, as the WHO seeks to control all biodiversity, under Agenda 30. This includes the ‘ Corporatisation’ of all food systems, water and oxygen. Lindsay Hooper of the WEF, has blasted humans for expecting water and oxygen to be “unlimited” and “free.” And that Global elites must put them on the “balance sheet”. (video)

• @ChuckCallesto

• BREAKING REPORT: Forgiato Blow’s new song TRUMP TRUMP BABY featuring model Amber Rose climbs to #4 on the charts, 3 days after initial release.. (video)

• @WallStreetApes
  

• You Literally Can’t Make This Stuff Up. The "Green" Environmental Laws being passed by Liberals have prevented sound forest management. As a result of these regulations, 25% of our national forests have burned down. (video)

• @Sav_says_
  

• WARNING EXTREMELY GRAPHIC: SF PRIDE- A man lies in an inflatable pool of urine in The Fetish Zone where attendees are encouraged to pee on him. Other booths featured participants getting spanked, whipped and imitating sex acts on each other, all in public. (video)

• @gregkellyusa
  

• Did @joebiden CHEAT at the debate? We all saw Joe’s “face” get Contorted as a Jack-O-Lantern. BUT WAS HE GETTING TIPS RADIOED TO HIM BY SOMEONE BACKSTAGE? WATCH: Joe briefly becomes Focused on something and ignores Trump, adusts his EAR and starts writing stuff down. CHEATING?! (video)

• @goddeketal

• HOW THE GLOBALISTS HIJACKED SCIENCE. In this post, as a canceled scientist, I'll expose how the ruling elite hijacked science for their pseudotheories: First, they ensured that scientists at universities are no longer permanently employed but are hired on a precarious project basis for 3-4 years. Second, a scientist only gets a grant for a project if it fits within the rigid and ideological framework of the funding organization. These almost always mandate gender, equality, inclusion, and climate change. Third, if you don’t comply and integrate these politically charged issues into your funding application, you will not get a job. This system ensures that only sycophantic, uncritical scientists receive funding grants.
  

OpenVAERS: 

• VAERS US COVID Vaccine Adverse Event Reports. 1,011,672 Reports(+1,127 from prior report) Through May 31st, 2024.

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 indices are -.5% to +.5% on average.
• Asia Ex-Japan Investment Grade CDS Index 98.5 -.5 basis point.
  
• China Sovereign CDS 66.25 -.25 basis point.
• China Iron Ore Spot 106.7 USD/Metric Tonne -.02%.
  
• Bloomberg Emerging Markets Currency Index 39.1 -.01%.
• Bloomberg Global Risk-On/Risk Off Index 59.4 +2.8%.
• Volatility Index(VIX) futures 14.9 -.6%. 
• Euro Stoxx 50 futures +1.0%.
• S&P 500 futures +.22%.
• NASDAQ 100 futures +.23%.

Morning Preview Links

BOTTOM LINE: Asian indices are mostly higher, boosted by technology 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 75% net long heading into the week.

Today's Headlines

Bloomberg:

• China Tightens Management of Rare Earths With New Regulation. 
• Chinese Golf Carts Surging Into US Prompt Pleas for 100% Tariff.
• The Dirty Side of China's Overseas Nickel Industry.
• Billionaire Carlos Slim Ramps Up Oil Bets Amid Buying Spree.
• Who Could Win Iran’s Presidency, and Why It Matters.
• Economic Cracks Are Getting Exposed in the 2024 Market Bounty.
• Where Stock Market Is Headed After Wild First Half: Five Charts.
• Goldman’s Hedge Funds Head Says It’s Time to Cut Portfolio Risk.
• Retail Traders Are Getting Bigger Than Ever in US Stock Options. 
• Chicken Soup for the Soul Files for Chapter 11 Bankruptcy.
• Replacing Joe Biden Is a Fantasy Democrats Must Abandon.

Zero Hedge:

• 21 Facts That Joe Biden Doesn't Want You To Know.
• NY Times Editorial Board Urges Biden To Quit Race - Did Trump Administer Premature Kill Shot?
• Target Finally Gets Serious About Out-Of-Control Thefts, Lowers Intervention Threshold To Just $50.
• Lithium: A Clean Energy Solution With A Dirty Secret.
• Costco To Build 800-Unit Apartment Complex In South Los Angeles.
• A Victory For Bitcoin: SCOTUS Overturning 'Chevron Deference' Is Monumental Shift.
• Numbers Don't Lie.
• UK Military Planes Making Secretive Flights To Lebanon From Cyprus.
• Which Countries Have The Highest Corporate Tax Rates In The G20?
• Customized B Vitamin Therapy Could Help Parkinson’s Patients, New Study Suggests.
• Taliban Power-Grab Over Opium Production Sparked Surge In Fentanyl Use.
• Ursula Von Der Leyen: Beyond Redemption.
• Why Won't The US Help Negotiate A Peaceful End To The War In Ukraine?
• DOJ Sues 5 Pro-Life Activists For Repeatedly Obstructing Access To Abortion Clinics.
• These Are The Most Expensive US Metro Areas To Raise A Kid.
• VDH: Stop The Ukrainian Meatgrinder?
• Iran Openly Talks About Building A Nuke In Historic Shift.
• You Keep Using The Term 'Authoritarian'...
• These Are The World's Least Affordable Housing Markets.
• Nearly 1-In-3 Americans Earning Over $150,000 Worry About Making Ends Meet: Fed Report.
• Supreme Court Rejects Bannon Bid To Avoid Monday Prison Deadline.
• Cultural Marxism: A Century Old... And Thriving.
• "Feels Like September": Atlantic Disturbance Could Be Upgraded To Tropical Storm Beryl This Weekend.
• Zelensky Gets More Realistic: 'We Don't Have A Lot of Time'.
• Ahead Of Stress-Tests, Banks Saw Big (Adjusted) Deposit Inflows, But...
• Nothing To See Here, Just A Smiling Robot Face Made From Living Human Flesh.
• Netanyahu Tells US Delegation Iran Seeks To Topple Saudi Arabia, Jordan.
• Stocks and Bonds whipsaw to US data on month/quarter end - Newsquawk US Market Wrap.
• Biden's 'Blue Screen Of Death': They Knew, They All Knew...
• Rejection And Cheap Hedging.
• S&P Surges To Best Election Year H1 Since 1976 As Rate-Cut Hopes & Macro Data Collapse.

Wall Street Journal:   

• Postwar Vision Sees Gaza Sliced Into Security Zones.
• High Court Puts Biden Policies Like Net Neutrality and Ban on Noncompete Contracts at Risk.
• The World Saw Biden Deteriorating. Democrats Ignored the Warnings.
• Apple Watch Is Becoming Doctors’ Favorite Medical Device.
• Hezbollah Isn’t Getting the Message. By restraining Israel, Biden makes a major war in the north more likely.
• Why In-the-Know Men Are Dressing Like Cary Grant in 2024.

Barron's:

• Had bullish commentary on (HON), (DXCM) and (IRTC).

CNBC:

• Amazon is doubling value of credits for startups to build on AWS as Microsoft cloud gains ground.
• Record summer airline travel is starting, and so are the flight delays.
• Growth, value stocks could see boost from Russell rebalancing.
• S&P 500 returns 15% in the first half in an unusually smooth ride. 
• The 10 U.S. places with the highest cost of living—No. 1 costs more than double the national average.
• These could be the next big food and beverage trends.

MarketWatch.com:

• Biden says, ‘I can do this job,’ as betting markets put chance of re-election at new low.
• Stocks will fall 30% as the U.S. economy heads for a painful recession, strategist says.
• Super Micro and Nvidia lead the S&P 500 this year. These stocks follow. 
• These 20 stocks have been the S&P 500’s biggest losers so far in 2024.
• How Apple is borrowing from its 1980s playbook when it comes to AI. 
• Nike’s stock sees biggest drop ever as some analysts question company’s leadership after downbeat forecast.

NewsMax:

• Johnson: Making Illegals Voters 'True, Not a Conspiracy Theory'.
• Oddsmakers Still Bet on Biden as Candidate.
• Obama: Stick With Biden Despite 'Bad Debate'.
• Iran's UN Mission to Israel: 'Obliterating War' If Lebanon Hit.

Fox News:

• Trump campaign fires back, demands apology from Biden after 'ridiculous' cheap fake narrative.

TheGatewayPundit.com: 

• Uh Oh… More Bad News for Democrats: Biden Cannot be Replaced on Ballot in Three Swing States, Except for Death or 25th Amendment.
• Mother of Child Murdered by Venezuelan Illegals Left “Shocked” by Phone Call from President Trump Minutes Before He Took Debate Stage.
• Steve Bannon Hosts War Room for Final Show Before He Reports to Prison on Monday – Democrats Lock Up Most Important MAGA Voice in America for 4 Months Before 2024 Election.
• DOD Reluctantly Fact-Checks Joe Biden’s Insult to the Military Heroes Killed Under His Watch: “We Have Certainly Had Service Members Pass During This Administration”.
• NOT SATIRE: Reporter Who Watched the Debate at a NURSING HOME Says Biden Got Slammed by Elderly Residents.
• The End of ‘Macronism’ in France sends Globalist Media Into a Panic, as Snap Legislative Elections Set to Hand Power to Marine Le Pen’s Right Wing RN Party.
• Jack Posobiec: ‘We Witnessed a Democrat Coup Against Biden’ (VIDEO).
• Popular Gay Porn Star Arrested for Sharing and Receiving Hardcore Pornography of Children and INFANTS.
• Barstool’s Dave Portnoy Says Dems Planned Debate Fail to Install Newsom: ‘Sent Biden out For Slaughter’.
• Massive U.S. Pharmacy Chain to Close ‘Significant Share’ of Stores as Locations Struggle.

Epoch Times:

• US Raises Concerns With Beijing Over ‘Destabilizing Actions’ in South China Sea.

Around X:

• @libsoftiktok

• Jacksonville, FL has been conquered by woke activists. Democrats are now flying a foreign flag from city hall. (pic)

• @charliekirk11
  

• Prepare to watch the most brutal CNN fact check of crooked Joe you’ll ever see. Has the call already gone out to take out Joe Biden? (video)

• @OliLondonTV

• Children’s Hospital use sick BABIES to participate in LGBTQI+ Pride, making young babies hold the rainbow flag as staff march through the hospital waving flags whilst wearing SpongeBob tshirts. (video)
  

• @KanekoaTheGreat

• Oxford Professor Carl Heneghan has extracted the main points from Kansas Attorney General's lawsuit against Pfizer, and they're damning.

• @CollinRugg

• BREAKING: The Border Patrol Union responds after President Joe Biden says the Border Patrol supports him. Biden: "By the way the border patrol endorsed me, endorsed my position. In addition to that, we found ourselves in a situation..." Border Patrol Union: "To be clear, we never have and never will endorse Biden." (video)

• @Kylenabecker
  

• Debunking Joe Biden's Claim That All of Trump's 2020 Election Challenges Were 'Baseless'. Joe Biden at the CNN presidential debate claimed that all of Donald Trump's election challenges were dismissed because they had "no merit." This is FALSE. (pic)

• @WallStreetApes

• No Longer A ‘Conspiracy Theory.’ Former Arizona State Senator Confirming There Are Trails Of Chemicals Sprayed From Planes That Are Toxic & Harming Your Health. ‌ Says “You better wake up and fight back now”. (video)
• Response To Joe Biden Saying NO EVIDENCE Of Voter Fraud In The 2020 Election During The CNN Presidential Debate With Donald Trump. Here’s California San Joaquin Sheriff Patrick Withrow Discoveries Regarding Voter Rolls -93 people registered w/ birthdate of 1850 -4,144 voters registered over the age of 90 (there's only 10.3k residents over 80 in that county...this number would drop off significantly at 90) -232 registered at local prisons -125 registered to a non-profit, NGO or business ~300 voters with no first name -110 potential double voters - same name, DOB, and address but different Voter ID numbers -Registered voter named Jesus Christ Democrats & Mainstream media call you conspiracy theorists, is this sheriff a conspiracy theorist too? (video)
• Team Nancy Pelosi Just Posted How Dare Trump Blame Anyone But Himself For January 6. Here’s ON CAMERA Paid Crisis Actor John Sullivan Confessing January 6th was a Plan to Takedown Donald Trump. Nancy Pelosi’s Daughter Filmed The Event & Sold It To HBO “We did it! You were right we did it! Is this not gonna be the best film you’ve ever made in your life, Hell Yeah!” (video)
• WOW! Proof Major American Food Industries Are Controlled By The Chinese Government. Journalist travels to China to investigate Chinese takeover of Smithfield Foods. “I was given a big, thick book that very explicitly says, Do Not Distribute in The United States”. Food and Water is weaponized in America.

• @WallStreetSilv

• As many of you have noticed, @RadioGenoa has been silent since June 11th. His house was raided by the police on June 13th. They took his phone, iPad, access to his X acct and email acct. His lawyers have reviewed the case and tell him that they are just trying to intimidate @RadioGenoa into stop sharing videos on X related to the illegal migrant invasion of Europe.

• @bennyjohnson
  

• FLASHBACK: This is the video that Donald Trump posted on January 6th telling people to go home peacefully that he just mentioned at the debate. Twitter 1.0 took it down within 5 minutes. They prevented people from hearing this… (video)

• @newstart_2024

• World Economic Forum (WEF) members have begun discussing plans to seize control of all elements of nature that humans rely on for survival such as food, water, and even the oxygen supply. During the WEF Annual Meeting of the New Champions, also known as “Summer Davos,” in Dalian, China, globalists declared that natural systems are finite and must be corporatized. During a Summer Davos panel discussion, WEF speaker Lindsay Hooper blasted members of the general public for expecting water and oxygen to be “unlimited” and “free.” Hooper, the University of Cambridge Institute for Sustainability Leadership CEO, argued that food, water, and oxygen are “forms of natural capital” that global elites must put “on the balance sheet.”

• @EndWokeness
  

• Massachusetts Judge Susan E. Sullivan. She just released a Haitian migrant who rqped a disabled 15 year old in a hotel. His bail was set to a mere $500. (pic)
• BREAKING: Illegal alien who gunned down two NYPD officers says kiIIing cops is his culture. He works for the Venezuelan TDA gang. Bernardo Raul Castro Mata (19) revealed that firearms are smuggled into the NYC shelters through the food deliveries. Robberies are up 300% in the past year and police trace it back to the influx of illegals flooding New York City. (video)
• The experts told us Joe was fine. The experts told us to take the vax. The experts told us the laptop was fake. The experts told us the border is secure. The experts told us inflation is transitory. The experts told us 2020 was the MOST legitimate and secure election in history. Remember who the propagandists are. Never trust any of them again.
  

• @StephenM

• The cabal running our country just gave amnesty to 300K illegal aliens from Haiti, about 200K of which the Biden Admin flew to the US on secret migrant flights. This, as the US endures an epidemic of heinous migrant crime. The Dem Party wants illegals to vote and it’s not subtle.

• @Liz_Churchill10

• Adam Corolla absolutely roasts Covid Dictator Gavin Newsome. Lol. “Why did you shut the Beaches during Covid…?” “We didn’t know at the time…” “If you didn’t know anything…why did you shut the beaches…?”

• @InformedMama209

• As rumors are flying around regarding Gavin Newsom replacing Biden I want to show you what exactly Newsom has done to families and Californians. He hates us and is only interested in special interest groups that line his pockets. (pic)

• @JimFergusonUK

• *Exclusive Breaking News: Shocking Information About Graphene Oxide in mRNA Vaccines*. A highly educated top doctor and professor at seven universities, who is a senior virologist, epidemiologist, oncologist, and immunologist, has warned that graphene oxide is present in mRNA vaccines. (video)
  

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 1,011,672 Reports(+1,127 from prior report) Through May 31st, 2024.

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.

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

Earnings of Note 
Company/Estimate 

Before the Open:

• (MSM)/1.34
  

After the Close: 

• None of note
  

Economic Releases

10:00 am EST

• Construction Spending MoM for May is estimated to rise +.2% versus a -.1% decline in April.
• The ISM Manufacturing for June is estimated to rise to 49.1 versus 48.7 in May.
• The ISM Prices Paid for June is estimated to fall to 55.8 versus 57.0 in May.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The Fed's Williams speaking and the Atlanta Fed GDPNow Q3 estimate could also impact global trading on Monday.

US Equity Market Hours

• 9:30 am - 4:00 pm EST

Mid-Day Market Internals

NYSE Composite Index:

• Volume Running -5.5% Below 100-Day Average 
• Nasdaq/NYSE Volume Ratio 11.2 -2.8
  
• 4 Sectors Declining, 7 Sectors Rising
• 60.1% of Issues Advancing, 37.2% Declining 
• TRIN/Arms 1.19 -.83%
  
• Non-Block Money Flow +$79.2M
  
• 98 New 52-Week Highs, 25 New Lows
• 53.6% (+1.7%) of Issues Above 200-day Moving Average
• Average 14-Day RSI 53.0 +4.0
  

Other:

• Bloomberg Global Risk-On/Risk-Off Index 58.0 -1.2%
• Bloomberg Cyclicals/Defensives Index 240.5 +.5%
  
• Russell 1000: Growth/Value 21,087.9 +.1%
• CNN Fear & Greed Index 46.0 (NEUTRAL) unch.
  
• 1-Day Vix 9.2 -15.3%
  
• Vix 12.2 -.6%
  
• Total Put/Call .77 -.49%

Friday Watch

Night Trading 

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

• Asia Ex-Japan Investment Grade CDS Index 99.25 -.75 basis point.

• China Sovereign CDS 66.75 +.25 basis point.
  
• China Iron Ore Spot 105.10 USD/Metric Tonne -.6%.

• Bloomberg Emerging Markets Currency Index 39.0 -.04%.
• Bloomberg Global Risk-On/Risk Off Index 59.7 +1.7%.
• Volatility Index(VIX) futures 13.7 -.4%.
• Euro Stoxx 50 futures n/a.

• S&P 500 futures +.18%.

• NASDAQ 100 futures +.30%.  

Morning Preview Links

BOTTOM LINE: Asian indices are mostly higher, boosted by technology and commodity shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher.  The Portfolio is 100% net long heading into the day.