Today's Headlines
Bloomberg:
- China’s Economy Weakens as Power Crunch, Covid Rules Hurt.
- China Minister Says U.S. Policies Cause Shocks to Relationship.
- Troubles in China’s ‘Christmas Town’ Mean Higher Holiday Prices.
- China’s Stressed Developers Face $2 Billion Bond Bill This Month.
- Biden Chides Russia, China for Failing to Pledge More on Climate.
- Japan Stimulus Set to Pass Easily After LDP Retains Majority.
- Two Thirds of China’s Top Developers Breach a ‘Red Line’ on Debt.
- Singapore Boosts ICU Beds as Serious Infections Remain High.
- G-20 Leaders Strike Climate Deal That Leaves a Lot to COP26.
- Highlights of What Was Agreed to At the G-20 Summit in Rome.
- Asia Stocks Set to Get Boost From Japan; Yen Slips: Markets Wrap.
- Saudi Budget Sees First Quarterly Surplus Since 2019 on High Oil.
- Oil Drops at Start of Key Week as Biden Boosts Pressure on OPEC+.
- NYC Vaccine Mandate May Leave Workers Unpaid and Services Unmet.
- Texas Sues to Halt Biden’s Vaccine Requirement for Employers.
- Biden Agenda’s Vote Timeline in Question as Sanders Weighs In.
- Moderna Says FDA Needs More Time to Assess Vaccine for Teens.
- Three Days Will Reveal Global Alert Level on Inflation: Eco Week.
Wall Street Journal:
- G-20 Disagreements Point to Challenges for COP26 Summit
- Covid-19 Pushed Many Americans to Retire. The Economy Needs Them Back.
- American Airlines Flight Cancellations Continue to Climb.
- Wages and Prices Are Up, but It Isn’t a Spiral—Yet.
- Supermarkets Play Supply Chain ‘Whack-a-Mole’.
- Investors’ Inflation Fears Fuel Oil Rally.
- The Democrats’ Tax Plan Would Sink Real Estate. We’ve seen it before. The 1986 reform led to the savings-and-loan crisis and the 1990-91 recession.
- Former Afghan Spies and Soldiers Turn to ISIS After U.S. Withdrawal.
- Vaccine Mandates Turn Into Religious Tests at GE, Disney, Others.
- A New Generation Leads Chick-fil-A’s Growing Flock.
- Atlanta 2021 Mayor Election Is Dominated by Crime.
- Coke to Pay $5.6 Billion for Full Control of BodyArmor.
- Media Ignore Florida Covid Recovery.
- The Spending Bill Is an Attack on Work and Marriage.
CNBC:
- Benefits and risks of buy now, pay later for holiday shopping: Credit experts.
- Facebook’s Meta mission was laid out in a 2018 paper declaring ‘The Metaverse is ours to lose’.
- Biden’s job rating sinks to 42% in NBC News poll a year from midterms.
- FDA clears Pfizer’s Covid vaccine for kids ages 5 to 11, shots could begin next week.
Zero Hedge:
- Watch: MEPs Protest "Oppressive" Vaccine Passports, Question Why "Political Elites Push This Agenda This Hard".
- Mandate Meltdown: 26 NYC Firestations Shuttered, LA Sheriff Warns Of 'Mass Exodus', Tucson Water District Faces 'Staff Shortage'.
- Australia Confiscating Bank Accounts, Property, Licenses, & Businesses For Non-Compliance With COVID Fines.
- Taibbi: The "Let's Go, Brandon!" Freakout Goes Next-Level.
- Pelosi To Placate Progressives? Top Dem Mulling Dual Votes Next Week As Biden Approval Hits All-Time Low.
- Fully-Vaccinated White House PressSec Psaki Tests Positive For COVID.
- I've Been Driving Trucks For 20 Years, I'll Tell You Why America's "Shipping Crisis" Will Not End.
- Warning: Joe Biden's "Eat The Rich" Pitch May Come Back To Bite You.
- Portland Travel Group Says City Is Too Scary For Tourists And Not Just On Halloween.
- "Just Get Back To Living": Bill Maher Declares Pandemic Over, Says "You Shouldn't Have To Wear Masks".
- Will China Pop The Global Everything Bubble? (Spoiler Alert: Yes).
- A Huge Disconnect Between Climate Rhetoric And Doing Anything About It.
- Large-Scale Russian Troop Movements Along Ukraine Border Spark Alarm In US & Europe.
- The Fed's Inflation Is Behind The Supply Chain Mess.
- G-20 Leaders Make Little Progress Toward Sweeping Climate Deal.
- "10 To 20 Asset Managers Are Being Liquidated" - Rate Vol Exploding Just As Funds Pile Into Repo Trade That Blew Up Market.
- 90% Of Unvaxx'd Germans Say They Won't Get It.
- Durham Probe Inches Closer To Hillary As Alfa Bank Hoax Plot Thickens.
- Unvaxx'd San Francisco Police "Discarded Like A Piece Of Trash": Officer.
- The Most Popular Halloween Costumes Of 2021.
- Over 11,000 Active-Duty Air Force Personnel Unvaccinated With Days Left Before Deadline.
- Biden Admin Fails To Enforce Trump's Phase One Trade Deal With China.
- Bidenvilles For Christmas.
NY Post:
- US companies riddled with members of Chinese Communist Party: Devine. Boeing(BA), Qualcomm(QCOM) and Pfizer(PFE) are just three US companies that have employed dozens of CCP members in their Chinese facilities, the database reveals.
USA Today:
- COVID vaccines for kids aren't as clear-cut as for adults: 5 factors for parents to consider. What about rare side effects? Pfizer-BioNTech's safety trials included about 5,000 children, which is not enough to identify rare side effects. The potential side effect of greatest concern is called myocarditis, a swelling of the heart muscle that can also be caused by COVID-19. Myocarditis after vaccination has been seen mainly in adolescents and young adults, mostly male, after their second dose of vaccine.
Reuters:
- Singapore has administered at least 10,094,499 doses of COVID vaccines so far. Assuming
every person needs 2 doses, that's enough to have vaccinated about
88.5% of the country's population(4th best rate in world). Singapore is
reporting 3,700 new infections on average each day(463 infections per
100K people reported last 7 days), 100% of the peak - the highest daily
average reported on Oct. 30.
Our World in Data:
- Singapore is seeing the number of COVID-19 patients in it's ICUs hit record levels despite the 4th best vaccination rate in the world(88.5% fully vaxxed).
WXYZ-TV Channel 7:
Apex World News:
NewsMax:
TheGatewayPundit.com:
- BREAKING: Archbishop Vigano Chastises Pope for Calling Joe Biden a “Good Catholic” and Aligning Church with Lynn Forester de Rothschild and Others Pushing Climate Change and World Depopulation.
- EXCLUSIVE: West Point Cadets Who Chose to Leave West Point Rather Than Take COVID Vaccine Were Coerced, Abused and Discriminated Against.
- American Airlines Cancels Another 634 Flights Sunday – 1,500 Total Flights Canceled Since Friday.
- Illinois Legislature Votes to Eliminate Right of Religious Freedom from COVID Rejection Measures.
- Iowa Governor Kim Reynolds Signs Law Allowing Workers to Seek Medical and Religious Exemptions from COVID-19 Vaccine Mandate.
- Utah Lawmaker Who Pushed for Forensic Audit Resigns Following Attacks on His Wife and Family.
- Biden’s ‘Build Back Better’ Will Give US Highest Top Tax Rate of Any Country in the OECD Here We Go… Anti-Trump Fairfax County Director of Elections Tells Media Virginia Results May Not be Finished Until Friday.
- “Let’s Go Brandon!” Makes the World Series in Atlanta with President Trump in the House.
- Majority of Americans Now Say Psychopath and Serial Liar Tony Fauci Should Resign.
Covid-19(Data, Maps, Graphs):
- Our World in Data: New Global Covid-19 Cases(7-day rolling average graphs). New US Covid Hospital Admissions/ICU Admissions/Deaths
- FT.com: Fully Vaccinated by Country(graph). Global Lockdown Stringency Index(map).
- Bloomberg.com: International Travel Restrictions. Case Graphs by State.
- NYTimes.com: County Trends and Clusters. Local ICU Occupancy.
- Brown School of Public Health: Covid Severity by State/County(map). US Hospital Capacity(region).
- CovidActNow: Covid Severity/Infection Rate by Metro Area.
- KFF: US Vaccinations by Race/Ethnicity.
- Carnegie Mellon: Covid-Like Symptoms in Community. Covid Symptom Searches on Google. Covid-Related Dr.Visits. Restaurant Visits. Wearing Masks. (graphs)
- Safegraph.com: Commerce Patterns(graphs).
Night Trading
- Asian indices are unch. to +1.0% on average.
- Asia Ex-Japan Investment Grade CDS Index 81.5 +1.25 basis points.
- China Sovereign CDS 46.25 +1.0 basis point.
- Bloomberg Emerging Markets Currency Index 58.11 unch.
- Bloomberg Global Risk-On/Risk Off Index 3,312.0 -12.0 points.
- Volatility Index(VIX) futures 20.87 -.87%.
- Euro Stoxx 50 futures n/a.
- S&P 500 futures +.39%.
- NASDAQ 100 futures +.43%.
Earnings of Note
Company/Estimate
Before the Open:
Before the Open:
- (AMG)/3.91
- (ON)/.73
After the Close:
- (AMC)/-.56
- (ANET)/2.71
- (CAR)/6.68
- (CHGG)/.19
- (CRUS)/1.63
- (CLX)/1.01
- (FANG)/2.81
- (FN)/1.33
- (MCK)4.62
- (MOS)/1.48
- (NXPI)/2.73
- (PSA)/3.22
- (SPG)/2.53
- (RIG)/-.15
- (WMB)/.27
Economic Releases
10:00 am EST
- Construction Spending MoM for Sept. is estimated to rise +.5% versus unch. in Aug.
- ISM Manufacturing for Oct. is estimated to fall to 60.3 versus 61.1 in Sept.
- ISM Prices Paid for Oct. is estimated to rise to 82.3 versus 81.2 in Sept.
Upcoming Splits
- None of note
- The Eurozone PMI report, (ANET) analyst day and the (F) 3Q fireside chat could also impact trading today.
- 9:30 am - 4:00 pm EST