Tuesday Watch

Evening Headlines

Bloomberg:

• The Hong Kong Tower That Symbolizes China’s Credit Bubble Bust.
• Citi Warns of Euro-Yen Intervention Risk If Pair ‘Threatens’ 180.
• Asian Stocks Track US Rebound Ahead of Earnings.
• American Farmers’ Next Hot Commodity Is Canola for Biofuels. 
• Harris Has Enough Delegates to Clinch Nomination for President.
• Roblox Is Fighting to Keep Pedophiles Away, and Not Always Winning.
• Five Things You Need to Know to Start Your Day: Asia.

Zerohedge:  

• "You're Full Of Sh*t": Secret Service Director Grilled, Says Agency Has 'No Radio Communications' From Assassination Attempt.
• "Joe Biden's F**k You": Biden Megadonor Refuses To Fundraise For Kamala Harris.
• Mr. Beast's Co-Host Deletes X Posts After Reports Swirl Of Inappropriate Conversations With Minor .
• 'Pure Blood': Dating Divide Over Vaccination Status Splits Those Looking For A Partner.
• Mainstream Media Already Turning On Biden's "Dark Legacy" In Ukraine.
• Proof Of Life? Biden 'Phones In' During Harris Campaign Event.
• A Decade Of Conspiracists?
• Chaos Ensued The Last Time A US President Bowed Out Only Months Before An Election.
• Police Departments Advertise Six Figure Salaries , Better Quality Of Life, To Lure New Recruits.
• Kamala Harris: The Next Worst Thing.
• Dearborn, Michigan Is "America's Jihad Capital" And Has Descended Into "Civil War".
• US stocks gained in a tech-led rebound ahead of earnings and data, while politics took the limelight - Newsquawk Asia-Pac Market Open.
• Sen. Ron Johnson Reveals Preliminary Findings From Attempted Assassination Of President Trump.
• Liberal College Professors Get On The Kamala Bandwagon: She Is "Engaging And Energetic", "Has A Good Record".
• Stocks rally ahead of key earnings and data - Newsquawk US Market Wrap.
• "Only Half Gone!"
• Biden Ouster Sparks Some 'Trump Trade' Unwind, Big-Tech & Bond-Yields Bounce.

Wall Street Journal:

• Higher Prices on Tampons, Pads Prompt Hard Choices for Americans.
• America’s 60-Year-Olds Are Staring at Financial Peril.
• How the Bet on Joe Biden Turned Into an Epic Miscalculation.
• What Kamala Harris Believes. The Vice President’s political record reveals the views of a California progressive.
• Democrats Will Pay for the Biden Big Lie. By dropping out, he removes all doubt that Americans were played for suckers.
• Another Coronation for Kamala. She floated to the top in a one-party state. Who thinks she has the skills to serve as president?
• Alexa Is in Millions of Households—and Amazon Is Losing Billions.
• Warner’s TNT Makes Matching Offer for Amazon’s NBA Package.
• Elon Musk Says Tesla to Use Humanoid Robots Next Year.
• China’s Long Blueprint for Economy Falls Short on Details, Raising Concerns.

CNBC.com:

• How Biden’s unpopular economic record could be a challenge for Kamala Harris.
• Domino’s Pizza CEO talks weakness in its international business.
• CrowdStrike shares tumble as fallout from global tech outage continues.
• Google cancels plans to kill off cookies for advertisers.
• Tesla reports second-quarter earnings on Tuesday and investors want a robotaxi update.
• Republican representatives call on CrowdStrike CEO George Kurtz to testify. 
• Delta cancels hundreds more flights in struggle to recover from Microsoft outage.

MarketWatch.com: 

• These ‘cheap’ stocks could get a tailwind no matter who wins the White House.
• CrowdStrike’s stock extends declines as it draws a downgrade in wake of incident.
• Nvidia’s stock gains as analyst says a $2 billion beat could happen this quarter.
• Is Google’s biggest competition itself? Watch Alphabet’s earnings for signs. 

Fox News:

• Elon Musk says his child was figuratively 'killed by the woke mind virus,' vows to destroy it.
• FEC commissioner says Harris campaign going to take millions in Biden donations.
• Russell Brand calls Biden’s exit from presidential race an ‘extraordinary masquerade’.

TheGatewayPundit.com:

• Democrats Want Kamala Gone… They Will Let Her Make a Mockery of Herself (VIDEO).
• Explosive Move: Nancy Mace Forces Impeachment Vote on Secret Service DEI Director Kim Cheatle Within 48 Hours!
• Dissident Dem Senator Might Challenge Kamala Coronation, Fight Her for Nomination.
• DEVELOPING: Joe Biden Abruptly Cancels NINE TRIPS, Extends ‘Covid Isolation’ at Delaware Beach House After Dropping Out of 2024 Race.
• Kamala Harris Talks to Biden as if He’s a Toddler in Campaign Headquarters Call: “Joe, Are You Watching? Do You Hear This Clapping?” (VIDEO).
• Jaw-Dropper! Trump Leads Kamala 64% to 29% in Latest Poll – Up 10 Pts. in PA… Up 30 Pts in AZ… Up 40 Pts in GA!
• REPORT: Top Democrats Threatened to Invoke the 25th Amendment to Forcibly Remove Biden from Office Unless He Quit Race – Have Alternative Candidate to Kamala Harris.
• Is This a Recording? Joe Biden *Allegedly* Calls in to His Former Campaign HQ Before Kamala Speaks – Sounds Like Hell, Slurs… Did He Have a Stroke? (AUDIO).
• Questions Congress Side-Stepped About Trump Assassination Attempt at Hearing Today.
• INGRASSIA: Kamala Harris Helped Defraud The Republican Party And America By Covering Up Joe Biden’s Senility And Health Woes.
• Nancy Pelosi Endorses Kamala Harris After She Threatened Biden and Forced Him Out of Race, “We Can Do This the Easy Way or the Hard Way”.
• WHOA! Secret Service Director Cheatle STONEWALLS During Testimony Following Trump Attempted Assassination – REFUSES TO ANSWER QUESTIONS! (VIDEO).

Around X:

• @HawleyMO

• NEW - Whistleblowers tell me law enforcement personnel were in fact STATIONED to the roof the day of the Trump rally, but abandoned it, citing the heat. They also say law enforcement were supposed to be patrolling the building, but opted to stay inside instead. (pic)
  

• @bennyjohnson

• Jim Jordan ENDS Disgraced Secret Service Director Kim Cheatle's CAREER in Scorched EARTH Public humiliation. Secret Service Director admits UNDER OATH to purposely weakening Trump's security detail amid massive threats to Trump's Life. Cheatle must be charged and arrested: (video)

• @kylenabecker
  

• WOW: Director Kim Cheatle confirms that fierce Trump critic Sheila Jackson Lee was heavily involved in the oversight of the Secret Service. Sheila Jackson Lee died on Friday. (video)

• @GenFlynn
  

• All kidding aside, this is a very serious time for America. Unprecedented type actions in the past 24 hrs alone. That said, some stray electrons on a Monday morning: First, Biden inner circle began yesterday on T.V. saying , “Biden not withdrawing”. 90 mins later, a letter is released he obviously didn't write withdrawing from the race in an incredibly humiliating manner. Some takeaways:

• @VigilantNews

• AOC Unexpectedly Asks Secret Service Director a GOOD Question. This is a Matrix-like moment. “The individual used an AR-15 in order to act out his assassination attempt. An AR-15 has a range of about 400 to 600 yards. My question is, why is the Secret Service protective perimeter shorter than one of the most popular semi-automatic weapons in the United States?”
• WHAT?! Trump Shooter Used 3 Encrypted Accounts OVERSEAS to Communicate. Who was Crooks communicating with?
  

• @OversightPR
  

• ASSASSINATION INFO DROP. We found the assassin’s connections through our in-depth analysis of mobile ad data to track movements of Crooks and his associates. To do this, we tracked devices that regularly visited both Crooks’s home and place of work and followed them.

• @WallStreetSilv
  

• Did Joe Biden even sign the letter? The B looks totally different from how he signs everything else. He doesn't have a history of underlining his signatures. (pic)

• @stoolpresidente  

• I feel like I'm taking crazy pills when the left keep calling Trump a threat to Democracy when the Dems didn't let their own party vote for their candidate. It's insane!!!! (video)

• @simonateba

• BREAKING - EXPLOSIVE - BRUTAL: Republican Congresswoman Nancy Mace (
  @NancyMace) demolishes Secret Service Director Kimberly Cheatle, tells her she's 'full of shit' and is saying 'bullshit,' won't answer any helpful question during brutal 'Yes or No' questioning. WATCH. (video)

• @greg_price11

• Kimberly Cheatle is shown footage of Trump rally goers pointing to the shooter on the roof. She then attempts to explain how the Secret Service were not aware that there was a threat to President Trump and why the rally was never paused. This is a crazy clip. (video)
  

• @The_Real_Fly
  

• SECRET SERVICE DIRECTOR SAYS THEY DO NOT HAVE RECORDED RADIO COMMUNICATIONS FROM DAY OF TRUMP SHOOTING. (video)

• @gatewaypundit
  

• Holy Crap! Secret Service Director Admits that Crooks Had a Range Finder - And that Was Completely Acceptable! (VIDEO)

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 1,012,894 Reports(+1,222 from prior report) Through June 28th, 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 unch. to +1.0% on average.

• Asia Ex-Japan Investment Grade CDS Index 95.25 -2.25 basis points.

• China Sovereign CDS 63.0 -3.25 basis points.
  
• China Iron Ore Spot 102.8 USD/Metric Tonne -.7%

• Bloomberg Emerging Markets Currency Index 39.2 -.04%.
• Bloomberg Global Risk-On/Risk Off Index 58.6 +2.7%.
• Volatility Index(VIX) futures 15.2 +1.0%.
• Euro Stoxx 50 futures +.14%.

• S&P 500 futures -.15%.

• NASDAQ 100 futures -.28%.  

Morning Preview Links

BOTTOM LINE: Asian indices are modestly higher, boosted by industrial and technology shares in the region. I expect US stocks to open modestly lower and to rally into the afternoon, finishing modestly higher.  The Portfolio is 75% net long heading into the day.