Monday Watch

Today's Headlines

Bloomberg:             

• Turkey’s Leader Warns Greece Its Missiles Can Hit Athens.  
• China’s Top Medical Adviser Says Omicron’s Risks Same as Flu.  
• UK Power Surges to Record as Sub-Zero Chill Sends Demand Surging.
• Jacinda Ardern’s 2023 Election Prospects Dim as New Zealand Recession Looms.  
• Ukraine Latest: Erdogan Pursues Grain-Corridor Talks With Putin.
• Asia Stocks to Open Down in Week of Rate Decisions: Markets Wrap.
  
• The Worst of Europe's Energy Crisis Isn't Over.
• Fed’s Message That Rates Will Stay on Hold Clashes With 2023 Rate-Cut Bets.
• Investors Call Time on FAANG Stock Dominance After Nasdaq’s Rout.  
• Fund Managers Brace for ESG Correction With $4 Trillion at Stake.  
• BlackRock Facing More Blowback Over ESG as GOP Pressure Mounts.

Wall Street Journal:

• The Battle Over Work and Welfare. States are fighting back against the Biden drive to use the pandemic to increase government dependency.
• Homelessness Worsens in Older Populations as Housing Costs Take Toll.
• Amgen Nears Deal to Buy Horizon Therapeutics.
• Lockerbie Bombing Suspect Is in U.S. Custody.
• Rate Increases Squeeze Consumer-Finance Companies.
• Rise of Open-Source Intelligence Tests CIA.
• Western Scientists Cheered On China’s Covid Repression. Many public-health elites still won’t admit it was a mistake for the West to adopt Beijing’s strategy.
• U.S. Builds New Firewall to Stop Spread of Militant Islamists.
• Utility Bills Rise as Americans Pay Off Storm-Recovery Costs.
• Battle Between FTC and Microsoft Turns on Future of Cloud Gaming.
  

Fox News:

• Retired Navy SEAL famous for being trans says he is detransitioning, warns Americans to 'wake up'.
• School board member facing calls to resign over reaction to sexuality poster.

CNBC:

• Twitter to relaunch Twitter Blue at higher price for Apple users.
• SpaceX launches lunar lander for Japanese venture ispace, which aims to create moon economy.

Zero Hedge:   

• THE TWITTER FILES: The Removal Of Donald Trump, Part 2.
• Ban TikTok Everywhere?
• White House Says Still "Negotiating" For Whelan's Release, Lashes Out At Critics.
• 14 Border Agents Committed Suicide In 2022.
• Weekend News Round Up - Newsquawk Asia-Pac Market Open.
• "Egregious": McCarthy To Subpoena 51 Intel Agents Who Called Hunter Laptop Bombshell 'Disinformation'.
• Morgan Stanley On What Will Drive The Next Phase Of ESG Research.
• Lithium-Ion Battery Prices Rise For First Time.
• The Rise And Fall Of Inflation Risk Factors.
• The Twitter Files: The Corporate Media Ignores The Biggest Story Of The Decade.
• Army Captain Separated From Service For Refusing Vaccine As House Passes Bill That Rescinds Military’s Vaccine Mandate.
• Bond Investors Switch From Mutual Funds To ETFs At Record Clip.
• Indiana Sues TikTok For Allegedly Endangering Children, Sending Data To China.
• Sinema To Keep Committee Assignments After Leaving Democratic Party: Schumer.
• Chips Take Center-Stage As Businesses Manage Risks And Countries Manage Rivalries.
• The Blowback From Strip-Mining Labor For 45 Years Is Just Beginning.
• Goldman's Walk-Thru For The Next 3 Months: No Case For Lasting, Significant Upside.
• Ukraine's Odesa Plunged Into Darkness After 'Kamikaze Drone' Attacks.
• FTX Post Mortem Part 3 Of 3: The Contagion.
• Mapped: Which Countries Have The Highest Inflation Rate?
• Dutch Gov't Attempts To Forcibly Close 3,000 Farms To Comply With 'Green' Agenda.
• EU To Force Crypto Companies To Report Their Users' Holdings To Tax Authorities.
• Why The Left Must Destroy Free Speech... Or Be Destroyed.
• Visualizing The Military Imbalance In The Taiwan Strait.
• Supreme Court Hears Case That Could Empower State Legislatures, Not Judges, To Regulate Elections.
• Americans Might Be In For A Tax 'Refund Shock' Next Year: Analyst.
• SBF Tried To Destabilize Crypto Market To Save FTX: Report.

MarketWatch.com:      

• Opinion: Value stocks keep leading the market, and these are the 16 best picks from top investment newsletters.

NewsMax:

• Twitter Execs Exclusively Targeted Trump for Ban. 
• Election Group That Gave 'Zuckerbucks' in 2020 Renews Grants.

TheGatewayPundit.com:  

• “My Pronouns are Prosecute/Fauci” – Twitter Owner ELON MUSK to Release the Twitter Files on COVID and Dr Fauci.
• BREAKING: Twitter Files Part 4: Senior Execs Create Justifications to Ban Trump – Seek a Change of Policy for Trump Alone, Distinct From Other Political Leaders. 
• MORE FROM KARI LAKE’S LAWSUIT: 25,000 Ballots Added To Maricopa County’s Vote Totals AFTER Election Day. 
• Karl Rove Who Ran PAC Ads Supportive of Top Democrat Candidate and Held a Fundraiser for Adam Kinzinger Blames Trump for Midterm Losses.
• “My Pronouns are Prosecute/Fauci” – Twitter Owner ELON MUSK to Release the Twitter Files on COVID and Dr Fauci.
• The 40 Day Dilemma: Brazil’s Ongoing Crisis – The People Believe Something Big Is About to Take Place in Brazil.
• Man-Made Disaster: Illegals Are Flooding the Open Border Now That Title 42 Is Expiring Under Joe Biden – Migrants From 17 Countries Represented in Last 24 Hours.
• Evidence Shows that It’s Not Just Twitter and the FBI, the State Department, CISA, Facebook. YouTube and Google Are Also Working to Censure and Ban the Information You Receive.
• Surveillance Photos Captured “Non-Binary” Biden Nuclear Energy Secretary Stealing Woman’s Suitcase in Las Vegas Airport.
• Israeli-Based 3D-Printed Lab-Grown Meat Company is Building World’s Largest Facility in North Carolina.
• Second Journalist Dies Suddenly While Covering the FIFA World Cup 2022 in Qatar.
• THEY LIED TO US: World Health Summit Member Admits COVID Lockdowns Were Political Not Scientific (VIDEO).
• Yoel Roth Pushed for a Permanent Suspension of GOP Rep. Matt Gaetz Even Though He Didn’t Violate Twitter Rules.
• JUST IN: Arizona Attorney General Nominee Abe Hamadeh Files Election Contest Lawsuit – FILING INCLUDED.

The Epoch Times:

• Chinese Regime Stresses Social Stability in Response to COVID Protests.

Twitter:

• @MrAndyNgo - Through releases from #TwitterFiles, disgraced ex-Twitter Trust & Safety head @yoyoel is revealed to be a left-wing activist who had a political agenda. He secretly had certain hashtags added to blacklists in addition to many other duplicitous actions.
• @ToscaAusten - Don’t forget. The Obama administration gave a publisher $3.5 billion to publish Common Core textbooks—later the publisher paid Obama $65 million for a book deal. Quid pro quo. GenZ=Leftist brainwashing.
• @libsoftiktok - No wonder Twitter banned the word groomer. Presumably the former head of “trust and safety” @yoyoel made that decision. It’s all making sense now.
• @CitizenFreePress - MD Paul Marik: “In my hospital... they wanted me to use Remdesivir — it increases your risk of kidney failure 20 fold & increases your risk of dying by about 4%... The federal gov't will give hospitals a 20% bonus if you prescribe this toxic medication.” (video) 
• @riseupandresist - Melbourne The Insanity Continues ....So it begins. The Defibrillators have started rolling out in suburban streets...I wonder why. (pic)
  
• @247ChinaNews - Jinan - At night still miles-long queuing. The queue is even longer than that of going to a fever clinic overnight in Beijing. (video)
• @PriapusIQ - U.S. ENERGY ENVOY HOCHSTEIN CALLS INVESTOR HOSTILITY TO SHALE DRILLING "UN-AMERICAN" -FT.

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 903,327 Reports(+2,295 from prior week) Through November 25th, 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). 
• COVID Money Tracker. Tracking the Covid response.
  

Night Trading

• Asian indices are -1.0% to unch. on average.
• Asia Ex-Japan Investment Grade CDS Index 132.0 -1.0 basis point.
• China Sovereign CDS 75.25 unch.
• China Iron Ore Spot 110.8 USD/Metric Tonne -.65%
  
• Bloomberg Emerging Markets Currency Index 47.8 -.04%.
• Bloomberg Global Risk-On/Risk Off Index 48.1 -.11%.
• Bloomberg US Financial Conditions Index -.65 -6.0 basis points. 
  
• Volatility Index(VIX) futures 25.1 +.01%. 
• Euro Stoxx 50 futures n/a.
• S&P 500 futures -.16%.
• NASDAQ 100 futures -.24%.

Morning Preview Links

Earnings of Note

Company/Estimate

Before the Open:

• None of note
  

After the Close:

• (COUP)/.10
• (ORCL)/1.17
  

Economic Releases 

2:00 pm EST

• The Monthly Budget Statement for Nov. is estimated at -$248.0B versus -$191.3B in Oct.
  

Upcoming Splits

• None of note
  

Other Potential Market Movers

• The UK Industrial Production report and the 3/10 Year T-Note auctions could also impact trading today.

US Equity Market Hours

• 9:30 am - 4:00 pm EST

BOTTOM LINE: Asian indices are modestly lower, weighed down by consumer 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 25% net long heading into the week.