Evening Headlines
Bloomberg:
- China Builders Have $292 Billion of Debt Coming Due Through 2023.
- Global Bankers Fly Into Hong Kong Amid Growing US-China Tensions.
- Petrobras Suffers $4 Billion Plunge as Lula Win Sparks Fears.
- Credit Suisse Is Not For Sale, Chairman Says.
- Bond Rout Forces Japan Regional Bank Into Alternative Assets.
- Caution for Asian Stocks Before Central Bank Moves: Markets Wrap
- OPEC Says World Can’t Live Without Oil, Demand Will Keep Rising.
- Biden Warns Oil Firms He’ll Seek Tax on ‘Windfall’ Profits.
- Wells Fargo Is in Talks With US Watchdog to Settle a Number of Inquiries.
- Apple’s Online Store and Information Systems Chiefs Are Leaving.
- More Than a Third of Small Businesses Can't Pay Their Rent.
Wall Street Journal:
- Eurozone Inflation Rate Rises to 10.7% as Recession Looms.
- Musk Is Forming Circle of Advisers to Reimagine Twitter.
- Mortgage Giant Rocket Plunges Back to Earth, Hit by Rising Rates.
- High Court Hears Arguments on Race in Admissions.
- Can Harvard Discriminate by Race Forever? The school’s advocates can’t say when racial bias in admissions will end.
- Affirmative Action Exposes the Secret Meaning of Equity. Within academia, all understand it as a way to favor some races at the expense of others.
- University-Endowment Returns Drop Into Negative Territory.
- An Energy Education for Democrats. Biden’s climate policies have raised prices, and he’s mad as hell about it.
- Drugmakers Fight Over Lucrative Pneumonia Vaccines.
Fox News:
- RUNNING ON EMPTY:Supplier warns Americans of gas shortages, price surge.
- John Fetterman loses out on major endorsement with just days to go in consequential Senate race.
CNBC.com:
- Delta pilots vote in favor of potential strike as contract talks drag on.
- Homebuilders say the new year could be ugly as buyers pull back.
- Another interest rate hike from the Federal Reserve is on the way: Here’s how it may affect you.
- Biden threatens higher taxes on oil companies if they do not work to lower gas prices.
- Stocks making the biggest moves after hours: Avis, Stryker and more.
- GameStop stock soared, then fell all the way back down, in biggest price reversal since May. But why?
- Herbalife puts former CEO back in charge and withdraws guidance, stock dives.
- People are keen to move out of big cities due to inflation. They are eyeing these sunny locations for lower-cost living.
Zero Hedge:
- Leaked Docs Reveal Shocking Extent Of DHS "Disinfo" Collusion With Twitter, Facebook.
- Pelosi Attacker Charged With Assault, Attempted Kidnapping; Intended To "Kneecap" Nancy "If She Lied".
- Spooky Torts: The 2022 List Of Litigation Horrors.
- Yuan Traders Test PBOC's Credibility Like It's 2015.
- Anti-Russian Alliance Fractures After Japan Decides To Stay In Russia's Sakhalin-1 Energy Project.
- Iran's IRGC Seizes Foreign Fuel Tanker In Persian Gulf.
- TuSimple Fires Co-founder As CEO Amid Federal Probes, Board Inquiry.
- Biden Lost Temper In Zelensky Phone Call: "Show A Little More Gratitude" .
- US stocks declined at month-end amid global data woes- Newsquawk Asia-Pac Market Open.
- Yields Surge To Session High After Treasury Unexpectedly Projects It Will Issue An Additional $150BN In Q4 Debt.
- Reported Federal Probes Reignite Concerns Over TuSimple's China Dealings.
- Biden Blasts 'Big Oil' For "War Profiteering", Urges Congressional 'Windfall Tax'.
- Johnstone: Advocating World War Three Is Just Mainstream Punditry Now.
- Weak global data sees risk hit and Dollar bid ahead of key events - Newsquawk US Market Wrap.
- Who's Really Ahead In The Pennsylvania Senate Race?
- Bonds Battered, Bitcoin Bid, But The Dow Soars To Best October Ever.
- Pollster Jim McLaughlin: All About Inflation, Crime.
- Holt: Dwindling Diesel Stock Will Worsen Ukraine Deal Consequences.
- Rep. Fallon: Biden Mistaken to Remove Oil From Reserves.
TheGatewayPundit.com:
- Criminal Complaint: Pelosi Attacker David DePape Went Up to the Bedroom – Was Tired, Wanted to Take a Nap.
- DEVELOPING: Justice Department Files Federal Criminal Charges Against David DePape – Allows Government to Control and Hide Evidence – And Selectively Leak.
- How Is This Legal? Scientists In London Lab Just Created A Mutant Super Strain of COVID And It’s Reportedly Lethal.
- Fully Vaxxed and Boosted CDC Director Walensky Tests Positive For Covid AGAIN in *Rebound Case* After Taking Paxlovid.
- WAYNE ROOT: Is the Paul Pelosi Story the New Jussie Smollett Fraud, or the New Hunter Biden Laptop Scandal?
- This Is Bus Where David DePape Stayed – The Man Who Authorities Say Broke Into Pelosi’s Home and Organized a Kidnapping While Running a Conservative Website.
- BREAKING: Pelosi Attacker Dave DePape in US Illegally.
- Supreme Court Says Federal Government CAN Enforce Masks on Airplanes.
- Two Studies from Columbia and Harvard Reveal New Omicron Boosters Were Just as Ineffective as Previous Covid Shots – FDA Says Study Too Small to Come to Any Conclusions.
- “Listen, Do They Think We’re Idiots?” – Steve Bannon and Mathew Tyrmand Discuss the Improbable Brazilian Election Results that Look a Lot Like the “Drop and Roll”.
- Crisis in Wisconsin: Military Ballots at Risk.
The Epoch Times:
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 887,564 Reports(+3,505 from prior week) Through October 21st, 2022.
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.
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 -.25% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 233.25 +10.0 basis points.
- China Sovereign CDS 126.75 +7.5 basis points.
- Bloomberg Emerging Markets Currency Index 46.5 -.01%.
- Bloomberg Global Risk-On/Risk Off Index 46.2 +2.0%.
- Bloomberg US Financial Conditions Index -1.06 -2.0 basis points.
- Volatility Index(VIX) futures 26.4 unch.
- Euro Stoxx 50 futures +.25%.
- S&P 500 futures +.26%.
- NASDAQ 100 futures +.38%
Earnings of Note
Company/Estimate
Before the Open:
- (AGCO)/3.16
- (BP)/.32
- (ETN)/2.01
- (LLY)/1.93
- (FOXA)/1.14
- (IT)/1.87
- (IDXX)/2.04
- (LEA)/2.13
- (LGIH)/3.37
- (LPX)/1.51
- (MPC)/7.03
- (TAP)/1.35
- (MYGN)/-.08
- (NEM)/.34
- (PFE)/1.40
- (PSX)/5.03
- (PBI)/.02
- (RGEN)/.68
- (SEE)/.90
- (SPG)/2.92
- (SYY)/.99
- (UBER)/.06
- (WAT)/2.58
After the Close:
- (AMD)/.72
- (ABNB)/1.55
- (AIG)/.52
- (ANDE)/.37
- (CZR)/.16
- (CAKE)/.30
- (CHK)/4.48
- (CRUS)/1.44
- (CLX)/.78
- (DVN)/2.13
- (EA)/1.35
- (HRB)/-1.09
- (MTCH)/.59
- (MCK)/6.09
- (MSTR)/1.03
- (MDLZ)/.69
- (PRU)/2.02
- (YUMC)/.30
Economic Releases
10:00 am EST
- Construction Spending MoM for Sept. is estimated to fall -.6% versus a -.7% decline in Aug.
- ISM Manufacturing for Oct. is estimated to fall to 50.0 versus 50.9 in Sept.
- ISM Prices Paid is estimated to rise to 53.0 versus 51.7 in Sept.
Afternoon:
- Wards Total Vehicle Sales for Oct. is estimated to rise to 14.5M versus 13.49M in Sept.
Upcoming Splits
- None of note
Other Potential Market Movers
- The RBA rate decision, weekly US retail sales reports and the (BA) investor day could also impact global trading today.
- 9:30 am - 4:00 pm EST