Evening Headlines
Bloomberg:
- Biden’s ‘America First’ Trade Policy Gives China Opportunity.
- Payment Test Looms; Debt Rules May Be Eased: Evergrande Update.
- China’s Tech Crackdown Is Upending Lives From Beijing to Kentucky.
- Asian Stocks Mixed as Traders Mull Inflation Risks: Markets Wrap.
- Oil Jumps as Energy Report Dims Chances for Immediate Relief.
- Elon Musk Loses $50 Billion in Two Days in Record Wealth Plunge.
- ‘Light at the End of the Tunnel’: Scenes of International Reunions at Newark Airport.
- Biden Urges Democrats to ‘Stay Engaged’ for Rest of His Agenda.
- Yellen Says Fed Wouldn’t Allow Repeat of 1970s-Level Inflation.
- American Air Offers $1,000 Bounties to Firm Holiday Staffing.
- Live Nation Now Facing at Least 35 Lawsuits Over Concert Tragedy.
- Bond Market Flashes Mixed Messages as Real Yields Sink Deeper.
Wall Street Journal:
- Rivian Prices Shares at $78 in Highly Anticipated IPO.
- Forced Covid Vaccination for Kids Is Unlawful. Statutes confer a clear right to refuse the shots before full FDA approval.
- McDonald’s CEO Apologizes for Telling a Simple Truth. America can’t solve its crime and education problems if people can’t discuss them honestly.
- What We Know About the Tragedy at Travis Scott’s Astroworld Concert.
- Is Santa Claus Coming to Town? Maybe Not. Blame the Labor Shortage.
- Departing J&J Chief Alex Gorsky Joins Apple’s Board.
Fox News:
- Trump blasts GOP rep who backed Dems' spending bill right to her face.
- Pelosi caught maskless at lavish wedding while kids forced to mask up — and she wasn't alone.
- Tucker Carlson: Elitist Democrats want you to shut up and obey.
- Schumer spotted maskless dancing in Puerto Rico as House voted on infrastructure package.
- Rashida Tlaib slammed after saying she's only wearing mask since she's on camera: 'It's not about health?'
- New York Gov. Hochul slammed for posing maskless on Broadway while children are forced to mask up in schools.
- McConaughey comes out swinging against vaccine mandates for kids.
CNBC.com:
- Federal Reserve’s Bullard expects two rate hikes next year.
- Labor union representing TSA and other federal workers urges White House to delay vaccine deadline.
- Krispy Kreme revenue beats estimates as doughnut chain flexes pricing power.
MarketWatch
- Unity Software to buy Peter Jackson’s special-effects studio for $1.6 billion, stock drops.
- Opinion:
The Fed thinks meme stocks threaten the
financial structure, retail investors say that’s kind of the point.
- DoorDash shares surge on news it is buying Finnish food-delivery company Wolt in $8 billion deal.
- Upstart’s red-hot rally may be cooling as stock sinks despite earnings beat.
- These 25 semiconductor stocks could rise as much as 43% with chips in short supply.
Zero Hedge:
- Americans Are The Most "Miserable" In Decades.
- John Durham Is Getting Close To The Jugular.
- Something Really Strange Is Happening At Hospitals All Over America. Emergency rooms are filled to overflowing all over America, and nobody can seem to explain why this is happening. With less people catching the virus, you would think that would mean that our emergency rooms should be emptying out, but the opposite is actually happening. If the number of COVID cases was starting to spike again, it would make sense for emergency rooms to be overflowing. But at this particular hospital in Michigan, we are being told that some of the main things that are being treated include “abdominal pain”, “respiratory problems”, “blood clots” and “heart conditions”…
- Virginia's Become 'Ground Zero' For Backlash Against Critical Race Theory Madness.
- China Initiates 'Combat Readiness Patrol' Near Taiwan, Outraged Over "Surprise" Large US Delegation Visit.
- Infrastructure: What's The Bang For The Buck?
- Taliban Inaugurates "Islamic Emirate Army" With Largest-Ever Convoy Of US Armored Vehicles.
- A "Severe Blast" Of Arctic Air Could Impact US Next Week.
- Naturally-Acquired Immunity Versus Vaccine-Acquired Immunity.
- WTI Extends Gains After API Reports Surprise Crude Draw.
- Coinbase Shares Crash After Disappointing Revenues, User Growth.
- Market Musked.
Newsmax:
TheGatewayPundit.com:
- 12-Year-Old Child Dies Two Days After Taking Pfizer Vaccine in Germany – Officials Pull Back on Mandatory Shots for Children.
- Pfizer CEO Says People Who ‘Spread Misinformation’ About Covid Vaccines Are “Criminals” (VIDEO).
- Daily Rate of New Covid Cases In California is Now DOUBLE Florida’s Rate – Despite Newsom’s Covid Mandates.
- NYC Mayor Bill De Blasio Says He Wants to Require Children Ages 5-11 Show Proof of Covid Vaccine to Access Businesses (VIDEO).
- Biden NatSec Advisor Jake Sullivan is “Foreign Policy Advisor” Referred to in Indictment of Hillary Clinton Campaign Lawyer Michael Sussmann.
- Democrats Take Back Conceding the Virginia House and Are Now Pushing for Recounts in Two Seats.
- Joe Biden Admits Life Under His Presidency Sucks: “There’s a Lot of Anxiety, Gas Prices Are Up Exceedingly High” (VIDEO).
- Italy Reports Only 4,000 Deaths ‘Caused’ by COVID Only Proving Again We Were Right When We Posted Only 6% of COVID Deaths in US Were COVID Only.
- President Trump Slams Former New Jersey Governor Chris Christie for Telling Nevada Republicans to Move on from 2020 Election.
The Epoch Times:
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
Morning Preview Links
Earnings of Note
Company/Estimate
- Asian equity indices are -.5% to unch. on average.
- Asia Ex-Japan Investment Grade CDS Index 94.0 +4.0 basis points.
- China Sovereign CDS 56.25 +1.25 basis points.
- Bloomberg Emerging Markets Currency Index 58.29 -.02%.
- Bloomberg Global Risk-On/Risk Off Index 2,856.0 -22.0 points.
- Volatility Index(VIX) futures 20.91 +.40%.
- Euro Stoxx 50 futures -.05%.
- S&P 500 futures -.19%
- NASDAQ 100 futures -.20%.
Earnings of Note
Company/Estimate
Before the Open:
- (ENR)/.73
- (PRGO)/.65
- (WEBR)/-.18
- (WEN)/.18
- (WWW)/.61
After the Close:
- (AFRM)/-.28
- (BZH)/.82
- (BYND)/-.39
- (BRKS)/.77
- (BMBL)/.08
- (GDRX)/.02
- (RRGB)/-.54
- (DIS)/.51
Economic Releases
- Initial Jobless Claims for last week are estimated to fall to 260K versus 269K the prior week.
- Continuing Claims are estimated to fall to 2050K versus 2105K prior.
- The CPI MoM for Oct. is estimated to rise +.6% versus a +.4% gain in Sept.
- The CPI Ex Food and Energy MoM for Oct. is estimated to rise +.4% versus a +.2% gain in Sept.
- Real Avg. Weekly Earnings YoY for Oct.
10:00 am EST
- Wholesale Trade Sales MoM for Sept.
10:30 am EST
- Bloomberg consensus estimates call for a weekly crude oil inventory gain of +1,677,560 barrels versus a +3,290,000 barrel gain the prior week. Gasoline supplies are estimated to fall by -1,044,130 barrels versus a -1,488,000 barrel decline the prior week. Distillate inventories are estimated to fall by -1,995,130 barrels versus a +2,160,000 barrel gain the prior week. Finally, Refinery Utilization is estimated to rise by +.75% versus a +1.2% gain prior.
2:00 pm EST
- The Monthly Budget Statement for Oct. is estimated at -$179.0B versus -$61.5B in Sept.
Upcoming Splits
- None of note
Other Potential Market Movers
- The China CPI report, $25B 30Y T-Note auction, weekly Langer Consumer Comfort Index, weekly MBA Mortgage Applications report, (OC) investor day, (SWI) analyst/investor day, (MA) investment meeting and the Morgan Stanley Chemicals/Ag/Packaging Conference could also impact global trading today.
- 9:30 am - 4:00 pm EST
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