Sunday, November 20, 2022

Monday Watch

Today's Headlines

Bloomberg:              
Wall Street Journal:
Fox News:

 MROnline:

CNBC:
Zero Hedge:
TheGatewayPundit.com:
The Blaze:
  • Collapsed cryptocurrency exchange FTX had ties to Ukrainian government, WEF, and top Biden adviser. Curiously, the Ukrainian government launched a cryptocurrency donation website in March that was backed by FTX. CoinDesk reported in March, "'Aid for Ukraine,' which has the backing of crypto exchange FTX, staking platform Everstake, and Ukraine’s Kuna exchange, will route donated crypto to the National Bank of Ukraine, Everstake’s Head of Growth Vlad Likhuta told CoinDesk. Ukraine’s crypto-savvy Ministry of Digital Transformation is also involved."
Axios:
  • Bankman-Fried spent millions on Dem campaigns. It's unclear where Bankman-Fried's money came from. Forensic accountants and bankruptcy courts are on the case, but it could take months to untangle FTX's web of comingled funds. Bankman-Fried spent around $37 million during the last election cycle, almost all of which went to boosting Democratic candidates and causes. That made him the party's second-largest donor, according to OpenSecrets, and the sixth largest overall.
NY Post: 
  • FTX founder Sam Bankman-Fried to appear alongside Ukraine’s Volodymyr Zelensky at exclusive NYT event. Disgraced FTX founder Sam Bankman-Fried is scheduled to speak at an exclusive conference hosted by the New York Times alongside Ukrainian President Volodymyr Zelensky and US Treasury Secretary Janet Yellen. The DealBook Summit, sponsored by Accenture, will be held at Jazz at Lincoln Center in Manhattan on Nov. 30 and features speeches from supposed luminaries such as Mark Zuckerberg, Mayor Eric Adams, former Israeli Prime Minister Benjamin Netanyahu, and former Vice President Mike Pence.
Twitter:
OpenVAERS:
SKirsch.com:
Covid-19(Data, Maps, Graphs):
Night Trading
  • Asian indices are -1.25% to -.25% on average.
  • Asia Ex-Japan Investment Grade CDS Index 152.25 +6.0 basis points.
  • China Sovereign CDS 80.0 -4.0 basis points.
  • China Iron Ore Spot 95.1 USD/Metric Tonne -3.6%
  • Bloomberg Emerging Markets Currency Index 47.2 -.11%.
  • Bloomberg Global Risk-On/Risk Off Index 47.6 -.2%.
  • Bloomberg US Financial Conditions Index -.73 -1.0 basis point. 
  • Volatility Index(VIX) futures 24.8 +1.2%. 
  • Euro Stoxx 50 futures -.18%.
  • S&P 500 futures -.36%.
  • NASDAQ 100 futures -.31%.

Earnings of Note
Company/Estimate

Before the Open:
  • (SJM)/2.19
  • (J)/1.77
After the Close:
  • (A)/1.39
  • (DELL)/1.61
  • (URBN)/.42
  • (ZM)/.84
Economic Releases 
8:30 am EST
  • The Chicago Fed National Activity Index for Oct. is estimated to fall to 0.0 from .1 in Sept.
Upcoming Splits
  • None of note
Other Potential Market Movers
  • The German PPI report, 2/5Y T-Note auctions, TD Securities Tech Conference and the Needham Consumer Tech/E-Commerce Conference could also impact trading today.
US Equity Market Hours
  • 9:30 am - 4:00 pm EST
BOTTOM LINE: Asian indices are lower, weighed down by financial and technology shares in the region. I expect US stocks to open mixed and to weaken into the afternoon, finishing modestly lower.  The Portfolio is 50% net long heading into the week.

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