Evening Headlines
Bloomberg:
- China’s Worse-Than-Expected Exports Deal New Blow to Economy.
- China’s Central Bank Faces Tricky Policy Path as Deflation Looms.
- The Toughest ESG Rule Yet Puts EU on Collision Course With US.
- Asian Stocks Extend Weekly Rally on Peak-Rate Bets: Markets Wrap.
- Oil Set for Third Weekly Gain as African Outages Tighten Supply.
- An Arrest, a Ruling, a Rally: Crypto’s Wild Day in the Courts.
- Why Hollywood’s Writers and Actors Are Striking.
- Fed’s Bullard, Influential Voice on Rates, to Leave for Academia.
- Microsoft, Activision Weigh Sale of Some UK Cloud-Gaming Rights.
- Americans Now Cutting Back on Food Purchases, Conagra CEO Says.
- Layoffs Are Slowing. Will the Global Economy Escape Recession?
- Bank of America Is Using AI and Metaverse to Train New Hires.
- Relics of the Last Property Crash Start to Wobble Again.
- US Money-Market Fund Balances Retreat From All-Time High.
- Bond Rally Gains Momentum as Traders See Rates Close to Peak.
- DC Council Passes Emergency Bill As Crime Rates Soar
- US Government Moves Nearly 10k Bitcoin Worth Over $300 Million Related To Silk Road Seizure
- Chipotle Tests "Autocado" Robot To Streamline Guacamole Prep.
- These Are The World's Top 40 Largest Military Budgets.
- Does Anyone Care Anymore?
- "Not Some Fringe Theory": Flip-Flopping Virologist Thought Lab Leak "Highly Likely" Before Toeing Fauci's Line.
- Homicides Soar 96% In Washington State After Passage Of Gun Restrictions.
- Republicans Accuse Biden of 'Anti-Israel' Policies As Relations Hit Low Point.
- Defying gravity.
- Veteran-Owned 'Clean Beef' Company Says It Would Rather Shut Down Than Accept mRNA Injections In Cattle.
- My Wray Or The Hard Wray: New Twitter Files Contradict FBI Director's Testimony.
- Time to plan ATH...and autumn hedges.
- Head Of FTC Confronted About Agency Harassment Of Twitter At Behest Of Democrats.
- Johnstone: The Worst 2024 Election Interference Won't Come From Russia Or China.
- US stocks gained as softer-than-expected PPI data further supported the case for just one more Fed rate hike - Newsquawk Asia-Pac Market Open.
- Taibbi: Where Have All The Liberals Gone?
- Retail Money-Market Inflows Continue As Fed Bank Bailout Facility Usage Rises Again.
- Victor Davis Hanson: Ten Reasons Why Affirmative Action Died.
- Stocks and Bonds extend gains on soft PPI and DXY dips south of 100 - Newsquawk US Market Wrap.
- Broke-Buck Mounting After Soft PPI; Crude, Crypto, & The Yield Curve Soar.
Wall Street Journal:
- A Warning to the C-Suite on Racial Preferences. State Attorneys General warn Fortune 100 companies about their hiring practices.
- Affirmative Action Meets Real Life. I’m a man of the left, but I never cared for the unfairness of racial preferences.
- Affirmative Action on Campus Goes Beyond Admissions. Racial preferences in faculty hiring is common. Schools that do it are likely to find themselves in the constitutional crosshairs.
- ‘They’re Coming for Your Cars’. Even if politicians can push us all into e-vehicles, they will have to be small and scarce to achieve emissions goals.
- ChatGPT Comes Under FTC Probe.
- Xi Chokes Off Crucial Engine of China’s Economy
- The Luxury Tower Built for New York’s Elite Sits Half Empty.
- Best Commodity ETFs.
CNBC.com:
- Meta Threads engagement has dropped off since red-hot debut, tracking firms say.
- Palo Alto Networks CEO says Microsoft has a long way to go on cybersecurity.
- Actors union will join writers on strike, shutting down Hollywood.
- Singapore’s economy grows 0.7% year-on-year in second quarter.
- Australia appoints Michele Bullock as next central bank governor.
MarketWatch:
- St. Louis Fed’s Bullard says has stepped down from his post immediately, will leave in August.
- U.S. stocks just reached another market milestone. Here’s how the S&P 500 could climb even higher.
- Fed’s Waller, unimpressed by inflation data, calls for two more rate hikes this year.
- Some employers mandate etiquette classes as returning office workers walk barefoot, burp loudly and microwave fish.
Fox News:
TheGatewayPundit.com:
- In D.C. Non-Citizens Can Now Work as Police Officers.
- Victor Reacts: Shocker! No Cameras Where Cocaine Was Found – Secret Service Concludes Investigation With NO Suspect (VIDEO).
- Attendance at Disney World Sinks in 2023 – CEO and Liberal Media Make Excuses for Theme Park’s Falling Attendance (VIDEO).
- Spiderman Actor Tom Holland Announces Distance from Hollywood: “I Really Do Not Like Hollywood… The Business Really Scares Me” (VIDEO).
- Police Helped Elderly Pastor And His Son Find the Bathroom In The Capitol Building On January 6, Now They Are Facing 3 Years In Prison: ‘This is Outright Intimidation Tactics’… ‘You have No Rights’.
- BRUTAL! Matt Gaetz Catches Dirty FBI Director Chris Wray in Major Lie on Using FISA COURT in Spying on Americans (Video).
- John Kerry Makes Unbelievable Statement on Private Jets as He Lectures Lawmakers (VIDEO).
- Tucker Carlson to Host First GOP Presidential Primary Forum in Iowa on Friday.
- FDA Approves Over-The-Counter Contraceptive Pill.
- “What the Hell Are You!” – Social Media Users Erupt After Major Cosmetics Company Uses Bearded Men to Promote New Product Lines (VIDEO).
- Biden Regime to Crack Down on Air Conditioning to Fight Global Warming – Will Cut HFC Consumption by 40% in Next 4 Years – Get Ready to Boil!
- China was using a Flaw in Microsoft Cloud to Hack on US Government Officials.
The Epoch Times:
- China Developing Brain Control Weapons, Could Pave the Way for New World Order: Report.
- ANALYSIS: The Troubled Reality of China’s EV Industry.
- Xi Jinping Warns of a Ruling Crisis, Fearing CCP Will Share the Fate of the Soviet Union.
- China Perfecting Techno-Totalitarianism for Export Around the World: Rep. Gallagher.
Twitter:
- @The_Real_Fly - THIS IS A SIGNIFICANT ESCALATION.
- @zerohedge - US CLUSTER MUNITIONS ARE NOW IN UKRAINE, LT. GEN SIMS SAYS. Hong Kong Warns Of Japanese Seafood Ban If Fukushima Dumps Nuke Water Into Ocean. More Black Americans Support Supreme Court Affirmative Action Ruling Than Oppose It: Poll.
- @n8pennell - Who Employs Your Doctor? Increasingly, a Private Equity Firm.
- @TuckerCarlson - Ep. 9 The Andrew Tate interview. (video)
- @TheRightMelissa - In 2014 CBS did a segment applauding Sound of Freedom ’s Tim Ballard’s work against child trafficking. Almost 10 years later the same media is calling the film inspired by his work, “paranoid” “Qanon conspiracy Why? (video)
- @TheWuhanClan - This is so surreal. The socialist Spanish minister uses a private jet to attend a climate conference. 100 metres before the venue she gets out off the limo and takes a bicycle. The security cars follow her. (video)
- @Jikkyleaks - Please watch and share. Assumptions are not science. Lies are not science. Cover ups are not science. (video)
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 966,895 Reports(+1,278 from prior week) Through June 16th, 2023.
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.
Night Trading
Morning Preview Links
BOTTOM LINE: Asian indices are mostly higher, boosted by tech and commodity shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.
- Asian equity indices are -.% to +.% on average.
- Asia Ex-Japan Investment Grade CDS Index 111.0 -1.0 basis point.
- China Sovereign CDS 61.25 +.5 basis point.
- China Iron Ore Spot 112.1 USD/Metric Tonne +2.0%.
- Bloomberg Emerging Markets Currency Index 44.0 +.03%.
- Bloomberg Global Risk-On/Risk Off Index 65.9 +.8%.
- Bloomberg US Financial Conditions Index .32 -3.0 basis points.
- Volatility Index(VIX) futures 16.1 +.7%.
- Euro Stoxx 50 futures -.09%.
- S&P 500 futures -.17%.
- NASDAQ 100 futures -.10%.
BOTTOM LINE: Asian indices are mostly higher, boosted by tech and commodity shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher. The Portfolio is 100% net long heading into the day.
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