Evening Headlines
Bloomberg:
- Europe’s Energy Crunch Will Trigger Years of Shortages and Blackouts.
- ECB’s Wunsch Says Mild Slowdown Might Mean More Rate Hiking.
- Stocks Eke Out Small Gain Ahead of Midterms Result: Markets Wrap.
- US Cut Oil Output Forecast Again as Shale Growth Slows Down.
- Tight US Senate Races Set Up Long Wait for Who's in Charge.
- Sam Bankman-Fried’s $16 Billion Fortune Is Eviscerated in Days.
- Cryptocurrencies Plunge as Doubts About FTX-Binance Deal Grow.
- Crypto Retail Investors Rattled as Binance Moves to Acquire FTX.
- Dollar Is Down, But Not Out, as Fed Prepares for More Rate Hikes.
- Disney Profit Misses Estimates as Streaming Costs Rise, Ad Sales Soften.
- Millennium’s Jain Is Stepping Back as Hedge Fund Shuffles Management.
- Subprime Auto Bonds Hit by Skipped Payments, Falling Used-Car Values.
Wall Street Journal:
- Senate May Be Decided by These Votes.
- Full coverage of the election.
- Pennsylvanians Rush to Correct Mail Ballots After Court Ruling.
- Electorate Deeply Troubled by Inflation, America’s Direction.
- Midterm Senate, House, Governor Races to Watch—Hour by Hour.
- Airline Executives Don’t Expect Cheap Airfares to Come Back Soon.
- Netflix Looks to Live Sports for Growth.
- U.S., China Climate Envoys Rekindle Contact at COP27.
- Zuckerberg Says He Is Accountable as Meta Preps for Mass Layoffs.
- Democrats Pay a Political Price for Going Easy on Crime. But they’re slow to learn. Illinois is about to adopt some of the same policies that failed elsewhere.
Fox News:
- Voters make clear their top issue is the languishing economy.
- Left-wing group braces for worst — blames Manchin before polls close.
- JD Vance has slight lead over Tim Ryan based on Fox News Voter Analysis in race for Ohio Senate.
- Blake Masters, Kari Lake and RNC sue after 'hiccups' at Arizona voting locations.
CNBC.com:
- Disney misses on profit and key revenue segments, warns streaming growth could taper.
- FTX’s token plunges 80% on liquidity concerns, wiping out over $2 billion in value.
- Twitter exec says there will soon be three types of accounts: official, paid, and unlabeled.
- Space company Astra lays off 16% of workforce as it faces rocket development delay, quarterly losses.
- Household energy costs are expected to rise steeply this winter — here’s how you can save.
- Debt-ceiling showdown could shake up markets after midterm-election results, analysts say.
- The worst outcome for U.S. stocks would be a Democratic sweep of the midterms, Wall Street strategists say.
- AMC stock tumbles after reporting 12th consecutive quarterly loss.
- Coinbase stock plunges on news of Binance-FTX merger, which sets up ‘seismic’ change in competition.
- Homebuilders struggle to find buyers as cancellations by developers rise: ‘The build-for-rent market is going to become increasingly important’.
Zero Hedge:
- Election Night Results: Early Signals To Watch For As Polls Close Across America.
- "Yup": Elon Musk Seemingly Confirms Twitter Employees Sold Verification Badges 'Behind the Scenes'.
- Citadel's Ken Griffin Touts Florida As "Great Environment And Streets Are Safe And Clean".
- Oman's Energy Minister: It's Foolish To Assume Renewables Can Meet Global Demand.
- China Cancels Top EU Official's High-Profile Video Address For Ukraine War Comments.
- Seniors Feel Cheated As Inflation Dims Their Golden Years.
- China's Headlines Increase Risk Of Market Whipsaws.
- "Monstrosities": New York Has Started Erecting Thousands Of Giant Gray 5G Towers.
- Broken (crypto) markets.
- 'Violence', 'Democracy Itself', & Fetterman's Shorts: The Official 2022 Midterm Election Drinking Game.
- US stocks gained ahead of the US Midterm election results but with price action choppy amid crypto turmoil - Newsquawk Asia-Pac Market Open.
- DeSantis Halts Biden Election Monitors In Florida Polling Locations.
- WTI Extends Losses After API Reports Large Unexpected Crude Build.
- Dollar and yields fall into Midterms while Crypto plunges on exchange anxiety - Newsquawk US Market Wrap.
- Abortion Fails To Rally Men, Older Voters.
- Left-Hand Not Talking To Right-Hand: Quantitative Tightening & Federal Government Spending
- The Shortages Are Coming.
- Crypto Carnage Contagion Slams Stocks; Bonds & Bullion Surge As Dollar-Bulls Purge.
Newsmax:
TheGatewayPundit.com:
- Dominion Voting Machines Down In Texas, Arizona, New Jersey – Other Voter Irregularities Reported.
- ‘CBS Mornings’ Spent All Day in Democrat Precincts in Florida and Couldn’t Find One Charlie Crist Supporter (VIDEO).
- CNN Panel Shocked! Exit Polls Spell Trouble For Democrats: 7 in 10 Voters Unhappy with State of Nation and Largely Negative on Biden (VIDEO).
- Elections Director Allows DOJ Into Polling Locations In Pinal County, Arizona.
- “Protest! Protest! Protest!” – President Trump Calls for Protests as Computers and Tabulators CRASH and Long Lines Reported in GOP Areas in Arizona!
- WHAT’S GOING ON? More Democrat Absentee Ballots in Pennsylvania’s Allegheny County than in Philadelphia County Despite There Being 275,000 More Democrats in Philly.
- JUST IN: Guam Finally Flips! Elects Republican as its Delegate to US For the First Time in 30 Years.
- BREAKING: Attorneys File Suit After Ballot Accepted in Georgia County on Loose-Leaf Paper with Security Feature Turned Off in ALL Examined Machines.
- Katie Hobbs Did Not Recuse Herself From Election Duties In Arizona Despite Bi-Partisan Calls, Now We See Why.
- “We’re Going to Have a Great Night” – Trump Addresses Reporters After Casting Vote For DeSantis (VIDEO).
- BREAKING: Champaign County Clerk Reports Cyber-Attacks on Servers – Voters Told to Stay in Line.
- “Nothing Is Working” – Arizona Poll Worker Responds to Maricopa County Tabulator Issues – Issues with Machines are Now Reported in Wickenburg, AZ (VIDEO).
- MASSIVE ISSUES REPORTED ACROSS THE COUNTRY: Here Are Several Concerns and Anomalies We Received from our TGP Tips…
The Epoch Times:
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 891,607 Reports(+4,043 from prior week) Through October 28th, 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 +.75% on average.
- Asia Ex-Japan Investment Grade CDS Index 181.0 -9.25 basis points.
- China Sovereign CDS 84.25 -8.5 basis points.
- Bloomberg Emerging Markets Currency Index 47.04 -.03%.
- Bloomberg Global Risk-On/Risk Off Index 49.7 +.33%.
- Bloomberg US Financial Conditions Index -.91 +1.0 basis point.
- Volatility Index(VIX) futures 26.2 +.04%.
- Euro Stoxx 50 futures -.29%.
- S&P 500 futures -.01%.
- NASDAQ 100 futures +.12%
Earnings of Note
Company/Estimate
Before the Open:
- (DHI)/5.15
- (EBIX)/.65
- (HBI)/.27
- (PFGC)/.80
- (RBLX)/-.36
- (SPTN)/.47
- (TTD)/.23
- (WEN)/.23
- (WWW)/.55
After the Close:
- (BGS)/.33
- (BYND)/-1.15
- (JAZZ)/4.67
- (PAAS)/-.06
- (RDFN)/-.80
- (RNG)/.51
- (RIVN)/-1.83
- (STE)/1.98
- (WYNN)/-1.01
- (ZIP)/.27
Economic Releases
10:00 am EST
- Wholesale Trade Sales MoM for Sept. is estimated to rise +.5% versus a +.1% gain in Aug.
10:30 am EST
- Bloomberg consensus estimates call for a weekly crude oil inventory decline of -66,670 barrels versus a -3,115,000 barrel decline the prior week. Gasoline supplies are estimated to fall by -1,300,000 barrels versus a -1,257,000 barrel decline the prior week. Distillate inventories are estimated to fall by -383,330 barrels versus a +427,000 barrel gain the prior week. Finally, Refinery Utilization is estimated to rise by +.42% versus a +1.7% gain prior.
Upcoming Splits
- None of note
Other Potential Market Movers
- The Fed's Williams speaking, China CPI report, 10Y T-Note auction, weekly MBA Mortgage Applications report, (OKTA) investor day and the (PSX) investor day could also impact global trading today.
- 9:30 am - 4:00 pm EST
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