Tuesday Watch

Evening Headlines

Bloomberg:

• Macron Floats Big Bank Mergers to Transform EU.
• Chinese Stocks Stage a Rally That’s Yet to Convince Global Funds. 
• Oil Steadies as Traders Look to OPEC Report and Inflation Data.
• NYSE President Sees More US Companies Pursuing Public Offerings.
• Five Things You Need to Know to Start Your Day: Asia.

Zerohedge:  

• Hedge Funds Hammered As 'Roaring Kitty' Returns; Bitcoin & Black Gold Bid.
• Jen Psaki Claims Biden Never Looked At Watch, Suggests Gold Star Parents Lied.
• UN Unleashes Controversy, Accusations Of Deception, Over 'Revised' Gaza Casualty Data.
• "Combat Illegal Corporate Behavior" - Dem Lawmakers Urge Biden To Use Executive Action Against High Food Prices.
• 'I Gave Up Shame Years Ago': Clinton Denounces Trump For Doing What She Did In 2016.
• Pro-Israel PAC Guns For Massie - Did Speaker Johnson Encourage Attack?
• Will The Fed Lose Control?
• Systematic Swings, Big Buybacks and Well bid VIX.
• Leftists Triggered By Trump Policy To Potentially Execute Child Sex-Traffickers.
• Fast Casual Dining Foot Traffic "Plummets" Across New York-New Jersey As Consumer Cracks.
• US stocks lacked firm direction ahead of upcoming key events - Newsquawk Asia-Pac Market Open.
• Mayor Johnson Deepens Concerns About What Side He Will Be On If DNC Protesters Become Lawbreakers And Challenge Cops.
• Trump Tells Massive Crowd: "Day One" Executive Order Will Target Offshore Wind To Save Whales.
• Squeezed For Decades, America's Working Class Is Finally Up Against The Wall.
• China's Broadest Credit Metric Just Turned Negative For The First Time Since 2005.
• Bonds and stocks chop to NY Fed & AI ahead of key risk events - Newsquawk US Market Wrap.
  

Wall Street Journal:

• Melinda French Gates Resigning From the Gates Foundation.
• Investors Crowd Into Soft-Landing Trade Ahead of Inflation Data.
• New Florida Law Roils Its Condo Market Three Years After Surfside Collapse.
• Suddenly There Aren’t Enough Babies. The Whole World Is Alarmed.
• The Random Path to Stock-Market Riches.
• Washington Tries to Break Power Grid Logjams.
• Stubbornly High Rents Prevent Fed From Finishing Inflation Fight.

CNBC.com:

• OpenAI launches new AI model and desktop version of ChatGPT.
• Amazon-backed Anthropic launches its Claude AI chatbot across Europe.
• GameStop stock surges over 70%—but investors should still be wary of ‘meme stocks’.

MarketWatch.com: 

• The economy could be heading toward 1970s-style stagflation. What it means for the stock market. 
• Roaring Kitty rides again: GameStop’s meme-stock rally shows ‘gamification’ may be back.
• Home prices are overvalued in much of the U.S. — with these 5 states leading the list.
• Nvidia’s stock can soar 50% more as earnings power still isn’t priced in: HSBC.
• A recession could trigger a U.S. debt crisis, Wall Street economists warn.
• Dining out is increasingly a domain of the wealthy. Restaurants are feeling it.

Newsmax:

• Top Biden Official Doubts Israel Can Achieve 'Total Victory'.
• Hamas Lost Contact With Its Hostage Holders.

Fox News:

• Trump lashes out NY case after Michael Cohen testimony, rips 'corrupt' judge: 'Day of infamy'.
• Ice Cube speaks out as celebrities, rappers embrace Trump.

TheGatewayPundit.com:

• “Attorney-Client Privilege Out the Door with This Guy” – Scumbag Michael Cohen Plays Secret Recording of Conversation He Had with Trump in NYC Courtroom (VIDEO).
• Renowned Attorney John Eastman Delivers Blistering Speech on Illegitimate 2020 President Election – John Describes Complete Breakdown of the Election Process Like No Other (FULL VIDEO).
• Left-Wing ‘Fact Checker’ Snopes Reverses Course and Fact-Checks Themselves — Forced to Admit Ashley Biden’s Diary Is REAL
• Bill Gates Has Gone VAX-CRAZY… You Won’t Believe His New Idea | Beyond the Headlines.
• Democrat-Run California Imposes Secret 50-Cent Per Gallon Gas Tax.
• NEW: Board of Trustees at UNC-Chapel Hill Votes to Abolish DEI Funding – Trustee Cites American Flag Incident on Campus in Explaining His Vote (Video).
• Cartels’ Grip on Mexican Elections: Government Will Not Stop Drugs to US.
• 9-Year-Old White Christian Child Savagely Beaten on Minnesota School Playground Because “She Wasn’t Muslim”.
• BOMBSHELL: Dr. Peter McCullough Reveals Drs. Were Being BRIBED To Push Vax | Beyond the Headlines.
• “My Goodness Gracious!” – CNN Freaks Out Over Latest Poll Numbers Showing President Trump Leading in 5 of 6 Swing States – Including Nevada by 13 Points!
• The Department of Defense Continues to Hypocritically Deny Military Service Members Medical and Religious Exemptions for Vaccines.
• ‘Gender Equality Dean’ Caught on Camera Running Interference for Terror-Supporting Groups on Campus.
• Tom Cotton: Biden’s Position Is for a ‘Hamas Victory’.

The Epoch Times:

• China Attempts to Hide Negative Foreign Investor Sentiments: Analysts.

X:

• @elonmusk 

• Yup. (pic)

• @newstart_2024

• The WEF hosted a summit in Saudi Arabia to quietly share the details of their disturbing plans to completely ban cash in favor of a 100 percent digital system, while admitting the Covid pandemic was part of the plan to transition consumers away from cash and into the cold embrace of central banks. (video)

• @wideawake_media

• Remember when they outlawed fresh air and sunshine, in the name of "health"? It never had anything to do with a virus, and everything to do with seizing totalitarian control. Never forget. (pic)
• When climate cultists let their mask slip... It's really an anti-human death cult, masquerading behind the facade of "environmentalism". (pic)
• 2020: The year the entire planet became a giant insane asylum, almost overnight. Never forget. (video)

• @EndWokeness

• Secretary General of Guatemala suggests that the Biden Administration is trying to shut his child trafficking probe at the US border. Watch this entire interview. It's terrifying. (video)

• @WallStreetApes 

• American Tax Payers, This Is MIND BLOWING Joe Biden’s ONE WEEK SPENDING Is Just $20 Billion Shy Of What Barack Obama Spent During 2 Full Terms In Office “This past week alone, the Biden admin spent $875.3 billion on regulatory issues and 4.7 million on paperwork. In context, This is just $20 billion less than what President Obama spent during two complete terms in office.” New Report from former Director of the Congressional Budget Office: Biden Admin spending quote, “Jaw-dropping regulatory record” Comparison: Biden has spent over $1.37 trillion Trump spent 30.1 billion Barack Obama spent 303.1 billion. (video)

• @profstonge
  

• CBDC is the monetary version of Covid lockdown, but forever.
• The 2023 bank crash was far bigger than 2008. The difference? In 2008 they had to come begging for a couple trillion. In 2023 tens of trillions are on auto-pilot. (graph)

• @BGatesIsaPsycho 

• “You tell me folks - what is it?”. (video)

• @WarClandestine
  

• Here we go… Chief Scientist at the WHO, and one of the main individuals who WITTINGLY covered up the lab origins of SARS-CoV-2, is now suggesting that H5N1 Bird Flu is a “serious concern”, and is pushing to preemptively develop vaccines. They are going to try it again… (video)

• @amuse

• PURGE: The Biden regime has been openly purging the military of patriots but did you know it has been purging the FBI of anyone with prior military experience on the assumption they might be loyal to President Trump?

• @WallStreetSilv

• Fake meats ... Fake synthetic coffee ... Blocking out the sun ... Just put Bill Gates in jail and half the worlds problems are solved.

•  @ImMeme0

• Whatever you do, do NOT share this video of the Trump rally in NJ because it triggers liberals. (vdieo)
• Swiss lawyer Philipp Kruse at the European Parliament for the ECI citizens initiative challenges the WHO on their pandemic treaty – opposing the imposition of a global dictatorship of WEF and Gates. (video)

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 1,010,545 Reports(+992 from prior report) Through April 26th, 2024.

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 

• Asian equity indices are -.5% to +.25% on average.

• Asia Ex-Japan Investment Grade CDS Index 98.5 -1.25 basis points.

• China Sovereign CDS 63.75 -1.0 basis point.
  
• China Iron Ore Spot 116.9 USD/Metric Tonne -.2%.

• Bloomberg Emerging Markets Currency Index 39.7 +.03%.
• Bloomberg Global Risk-On/Risk Off Index 67.2 +4.4%.
• Volatility Index(VIX) futures 14.5 -.18%.
• Euro Stoxx 50 futures -.06%.

• S&P 500 futures -.01%.

• NASDAQ 100 futures -.08%.  

Morning Preview Links

BOTTOM LINE: Asian indices are mostly lower, weighed down by consumer and financial shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing mixed.  The Portfolio is 75% net long heading into the day.