Tuesday Watch

Around X:

• @Business  

• The US sanctioned a dozen entities for helping sell Iranian oil to China, stepping up its economic pressure as President Donald Trump cast doubt on a continued ceasefire with Tehran. 
• China investors are counting on the summit between Xi Jinping and Donald Trump to deliver just enough to sustain the detente trade underpinning stocks and the yuan. 
• US House lawmakers asked Jes Staley, a former top executive at Barclays and JPMorgan Chase, for an interview in its ongoing probe into Jeffrey Epstein.
• The number of new foreign undergraduate students at US colleges dropped by an average of 20% this spring from a year earlier, according to a study by a coalition of education groups.
• UnitedHealth said it will move away from having profits in its pharmacy benefits unit linked to the list prices of medications, the latest move to address longstanding criticisms of its business model. 
• Here’s what you need to know to start your day.

• @ZeroHedge

• Trump has grown increasingly frustrated with how the Iranians are handling negotiations to end the war, and some Trump aides say that he is now more seriously considering a resumption of major combat operations than he has in recent weeks.         
• "No More Nakedness": Spencer Pratt's L.A. Mayoral Plan To Restore Order 'In Weeks' Has Democrats In Panic Mode.
• California Mayor Indicted, Will Plead Guilty To Being CCP Agent.
• Iran Executes Top Young Aerospace Scientist, Alleging CIA & Mossad Ties.
• Ok, so the AG of Virginia, Jay Jones, has filed an emergency appeal to the United States Supreme Court asking them to overrule the Virginia State Supreme Courts ruling, and while he may have sent it through spellcheck this time, he failed to change templates..because this one is still going to the Supreme Court of Virginia. The incompetence is mind blowing.            
• A supertanker docked in Long Beach just delivered California’s last incoming shipment of Middle Eastern oil, a milestone for drivers already paying the nation’s highest fuel prices. 
• After the Louisiana ruling, the message is clear: race can no longer be the dominant factor in drawing maps. Red states now have stronger legal ground to draw fair, population-based districts. The artificial Democrat advantage from racial gerrymandering is collapsing.
• Trump Floats Making Venezuela The 51st State.
• 'Mediator' Pakistan Hosted Iranian Military Aircraft To Insulate Them From US Attacks, Graham Fumes At Islamabad.
• US To Develop Small Modular Nuclear Reactors For Commercial Shipping.
• No, AI Won't Make Money Obsolete.
• *BYRON ALLEN TO MAKE MAJORITY INVESTMENT IN BUZZFEED.
• Billionaire Bucks Co-Owner Alleges $1 Billion Blackmail Plot After Affair With China-Born Entrepreneur.
• Netanyahu Says He Wants To End Annual US Military Support For Israel. 
• Watch: Lockdown Architect Deborah Birx Smirks Over PCR Testing For Hantavirus.
• Trump Mulls Renewed Military Action As Ceasefire "On Life Support"; Treasury Again Targets Iran's Oil To China.
• Oil Up, Stocks Up, VIX Up, Yields Up As Iran Peace-Deal Hopes Plunge.        

• @CNBC

• Oil prices extend gains as Trump comments diminish hopes for a U.S.-Iran peace deal.
• Streaming companies are discovering that their most valuable customers may not be the ones paying the most. Instead, it’s increasingly the viewers who watch the most. 
• Asia markets set to rise as investors brush off Trump’s ceasefire warning.
• Tuesday's big stock stories: What’s likely to move the market in the next trading session.
• Stock futures are little changed as traders await inflation reading, monitor Iran war developments: Live updates.
• Stocks making the biggest moves after hours: Hims & Hers, Gitlab, Cleanspark, Webtoon Entertainment & more.
• OpenAI revenue chief Dresser says enterprise AI adoption is 'at a tipping point'.

• @MarioNawful 

• Epstein’s network was even darker than we knew. Newly released docs expose how he and his crew recruited young girls and models from Poland, Lithuania, Latvia & across Eastern Europe... many from desperate economic situations. Epstein personally oversaw selection and flew them to Paris & New York. Thousands of pages… and still almost zero accountability. (video)

• @ShadowofEzra

• Benjamin Netanyahu threatens social media platforms for allowing criticism of Israel and admits Israel is preparing to declare a massive war against the platforms. Netanyahu says they have not fought back yet, but they will be forced to do so now. REPORTER: “The numbers are out of balance.” BENJAMIN NETANYAHU: “There has been a concerted effort by several states to vilify Israel on social media.” (video)

• @ChildrensHD

• Jeffrey Tucker exposes the dark truth behind Covid policies: It was all conditioning. “The whole point of the lockdowns was to prepare the population for the shots.” “To keep people apart so they wouldn't acquire natural immunity.” “To preserve immunological variety as long as possible.” “That's the reason for the masks.” “For the distancing.” “For the closures.” “That was the reason for the banning of therapeutics.” “Why you couldn't get Ivermectin… or Hydroxychloroquine.” “They were taken off the market.” “The reason?” “They wanted one solution.” “One solution only, which was a shot that had been indemnified against all harms.” “So it didn't need to be safety tested because even if it wasn't a safe shot, it wouldn't matter.” “The companies were not held liable for it.” “If you got sick and died, survivors couldn’t sue Pfizer or Moderna.” “There's a liability shield for them.” “They had a lot of money to be made.” “A lot of shots to be distributed.” (video)

• @BGatesIsaPsycho

• Florida Everglades are on Fire right now. Thousands of Acres, of which currently 0% is contained. Don’t question though why the Fire is burning in a perfectly straight narrow line… (video)

• @BowesChay

• Riddle me this- People die from Hantavirus every year- No panic. Last year more died than usual- No Panic. This year, so far less have died, including those on the Ship- Why the massive coverage? (graph)

• @EricLDaugh

• HUGE NEWS: Costa Rica’s new President Laura Fernandez is going RED PILL MODE — plans to launch a mega prison and REMOVE judges just like Nayib Bukele in El Salvador. “[Prison] won’t do any good if the judges keep releasing dangerous criminals!” (video)

• @HealthRanger

• Sulfuric acid is critical to the world's industrial supply chains. Without it, many rare earth minerals can't be extracted, either. Things are going to get very, very bad if the straight stays closed through the summer...

• @NicHulscher

• U.S. AND U.K. ARE ACTIVELY PREPARING PLANS TO MASS VACCINATE POULTRY AGAINST H5N1 BIRD FLU. Their leaky vaccines could contaminate our food supply, fuel dangerous mutations, and spark a human pandemic. This must NEVER be allowed to happen.
• LESS THAN 24 HOURS REMAIN TO CHARGE ANTHONY FAUCI FOR THE WORST COVER-UP IN PUBLIC HEALTH HISTORY. We have IRREFUTABLE EVIDENCE that he 100% LIED UNDER OATH claiming NIH never funded GoF at Wuhan and ORDERED destruction of evidence! MILLIONS of innocent people have been killed. Among the MANY crimes, this is by far the EASIEST TARGET. However, there are NO statutes of limitations for TREASON and CRIMES AGAINST HUMANITY. (video)

• @JohnnyMaga

• Trump just reposted this. (pic)

• @KobeissiLetter

• Overseas investors are piling into US stocks: Foreign investors now allocate a record 63% of their US financial assets to equities. This percentage has more than DOUBLED since the 2008 Financial Crisis. This also surpasses the 2000 Dot-Com Bubble peak by ~10 percentage points. By comparison, the long-term average allocation is ~40%. As a result, foreign investors now own a record $21.3 trillion in US stocks and equity funds, surging +170% since 2020. Foreign investors are doubling down on US markets.

• @JoshHall2024

• BREAKING: RINO GEORGIA GOVERNOR KEMP, SECRETARY OF STATE RAFFENSPERGER ATTEMPTING TO BLOCK FULTON COUNTY BOARD OF ELECTIONS FROM TURNING OVER VOTER DATA TO DOJ.

• @themagaking

• Imagine having to explain to your children why America fell. We had the presidency. We had the House. We had the Senate. We had the Supreme Court. But one Republican senator named John Thune refused to pass the SAVE Act. And because of that, illegal immigration, fraud, and corruption overwhelmed the system, and the America we once knew slowly ceased to exist.

Night Trading 

• Asian equity indices are -.75% to +.25% on average. 
• Asia Ex-Japan Investment Grade CDS Index 72.5 +.75 basis point. 
• China Sovereign CDS 41.25 .75 basis point.
• China Iron Ore Spot 111.45 USD/Metric Tonne -.13%. 
• Crude Oil 99.05/bbl. +1.0% 
• Gold 4,735.7 USD/t oz. +.17%. 
• Swiss Franc/Offshore Chinese Renminbi Cross 8.71 -.18%.
• Bloomberg Emerging Markets Currency Index 35.52 -.11%.
• Bloomberg Global Risk-On/Risk Off Index 119.0 +.3%
• US 10-Year Yield 4.42% +1.0 basis point.
• Japan 30-Year Yield 3.81% +2.0 basis points. 
• Volatility Index(VIX) futures 21.1 +.3%.
• Euro Stoxx 50 futures -.70%. 
• S&P 500 futures -.23%.
• NASDAQ 100 futures -.50%.

Morning Preview Links

BOTTOM LINE: Asian indices are mostly lower, weighed down by consumer discretionary and technology 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.