Evening Headlines
Bloomberg:
- Shein’s Cotton Tied to Chinese Region Accused of Forced Labor.
- Malawi Becomes First Low-Income Nation to Get IMF Food-Shock Loan
- Russia Reiterates It Won’t Sell Oil to Nations That Cap Prices.
- US Stocks Drop With Fed Policy, China in Focus: Markets Wrap.
- Oil Steadies After Wild Ride With Chinese Demand, OPEC+ in Focus.
- Tom Brady, Steph Curry FTX Endorsements Probed by Texas.
- Crypto Brokerage Genesis Is Said to Warn of Bankruptcy Without Funding.
- Tiger Global’s Now-Worthless FTX Bet Had Bain’s Due Diligence.
- Goldman Sachs Strategists Say Bear Market Will Last in 2023.
- Carvana Stock Rout Hits 97% This Year With Used-Car Prices Crumble.
- DraftKings Tumbles on Report of Unauthorized Money Withdrawals.
- Carl Icahn Is Betting Against GameStop Shares
- Iger to Receive $27 Million Yearly for Return as Disney CEO.
- Beyond Meat Plant’s Dirty Conditions Revealed in Photos, Documents.
Wall Street Journal:
- Beyond Meat’s Very Real Problems: Slumping Sausages, Mounting Losses.
- U.S. Presses Allies to Tighten Up Sanctions Enforcement.
- FTX Crypto Customers Worry They Will Never See Their Money Again.
- Crypto Lender Genesis Asks Binance and Apollo for Cash.
- Surge in Viruses Strains Parents and School Nurses.
- New York Approves First Batch of Recreational Marijuana Retailers.
Fox News:
- Bill Maher tears into woke college campuses. "Real Time" host Bill Maher and his guests slammed the "rot" from academia and woke ideology Friday for filtering down to destabilize civilization and democracy itself.
- TV stars Todd and Julie Chrisley sentenced to combined 19 years in federal prison for tax evasion.
CNBC.com:
- Fed’s Mester wants more progress on inflation before ending interest rate hikes.
- Stocks making the biggest moves after hours: Zoom, Dell, Urban Outfitters and more.
- Grayscale refuses to share proof of reserves due to ‘security concerns’.
- Coinbase shares tumble as bitcoin slide continues, investors fear contagion from FTX collapse.
- Democratic senators urge regulators to monitor SoFi crypto trading activity.
- Dell stock swings to a loss after weak forecast overshadows earnings beat.
- Zoom beats on earnings and hikes annual profit forecast, but fourth-quarter guidance disappoints, sending stock down.
- Tesla stock at two-year low, other EV-maker shares plunge as concerns simmer about China, oil futures.
- Fed’s Daly says financial markets are acting like interest rates are much higher than they actually are.
- Coinbase worth less than $10 billion for the first time as ‘crypto winter’ continues to set in.
Zero Hedge:
- "You're An Absolute Fraud": CME CEO Terry Duffy Recalls First Meeting Sam Bankman-Fried In March 2022.
- Teams Abandon Rainbow Armband For World Cup Matches After FIFA Threat.
- A Shocking 37% Of Real Estate Agents Couldn't Afford October Office Rent.
- Authorities Looking Into Oregon Report That Falsely Claims Sky-High Child COVID-19 Hospitalization Rates.
- Fear fading Monday.
- How Fed Easy Money Fueled The FTX Crypto Collapse.
- Is The American Pendulum Swinging Back To Reason? Maybe, But It Will Be A Long Fight.
- 9-12 More Months: How Long US Consumers Have Before The Bottom Falls Out.
- CEO Of Ukrainian Crypto Firm Denies FTX–Ukraine Money-Laundering Allegations.
- Iran Launches More Large-Scale Missile Attacks On Northern Iraq.
- The Lords Of War: The Perils Facing Trump, Garland, & Smith In Washington's Legal Arms Race.
- US Prosecutors Opened Probe Of FTX Months Before Collapse.
- US stocks tracked global peers lower amid China COVID woes, while oil prices whipsawed on OPEC+ headlines and Saudi denial - Newsquawk Asia-Pac Market Open.
- "Grade-A Gaslighting": FDA Says Anti-Ivermectin Campaign Was 'Just A Recommendation'.
- Risk off with new China restrictions while oil whipsaws on OPEC+ reports - Newsquawk US Market Wrap.
- Stocks & Crypto Dump, Dollar Jumps Despite Dovish Daly.
Newsmax:
- Rep. Waltz: Biden Admin Not Addressing China's Reach Into US.
- Rep. Comer: House to Focus on Biden Bank Records.
- S.C. AG: Google Needs to Give Option to Be Tracked.
- Report: Alleged Threats Send Maricopa County Election Head Into Hiding.
TheGatewayPundit.com:
- “I Will Become Governor” – Kari Lake Drops Bomb After Arizona Attorney General’s Office Demands Answers From Maricopa County Regarding Election Day Voter Suppression.
- BREAKING UPDATE: — NOW FOUR ARIZONA COUNTIES Delay Certification of the Tainted 2022 Midterm Election – Gila, Conchise, Mohave, and Yavapai.
- Report Claims that the “Hacker” of FTX Is Now Multimillionaire in Ethereum Crypto.
- AN IMPEACHABLE OFFENSE: TX Governor Abbott Declares Joe Biden “In Violation of Constitution” for Open Border with Mexico.
- US Men’s Soccer Team STANDS For National Anthem-Woke LGBTQ Crest Nowhere To Be Seen.
- FTX Funded $18 Million Towards Research that Claimed that Ivermectin and Hydroxychloroquine Didn’t Work Against COVID.
- DEVELOPING: Rail Union Rejects Labor Deal Brokered by Biden White House as National Strike Looms.
- Steve Bannon: “McCarthy’s Already Committed to MTG That Nancy Pelosi Is Going to Be Deeply Investigated – And Everything Democrats Knew” in Run-Up of Jan 6.
The Epoch Times:
Twitter:
- @KariLakeWarRoom - "A political action committee (PAC) based in Phoenix received $27 million from the CEO of FTX: the bankrupted cryptocurrency giant under investigation for fraud." Of course. Zuckerbucks and Ponzi Schemes.
OpenVAERS:
- VAERS US COVID Vaccine Adverse Event Reports. 898,029 Reports(+3,179 from prior week) Through November 11th, 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).
Night Trading
Morning Preview Links
Earnings of Note
Company/Estimate
- Asian equity indices are -.25% to +.5% on average.
- Asia Ex-Japan Investment Grade CDS Index 146.25 + basis points.
- China Sovereign CDS 84.25 +4.25 basis points.
- China Iron Ore Spot 95.0 USD/Metric Tonne -.4%
- Bloomberg Emerging Markets Currency Index 47.2 +.09%.
- Bloomberg Global Risk-On/Risk Off Index 47.7 unch.
- Bloomberg US Financial Conditions Index -.70 unch.
- Volatility Index(VIX) futures 23.9 +.2%.
- Euro Stoxx 50 futures +.36%.
- S&P 500 futures +.13%.
- NASDAQ 100 futures +.17%
Earnings of Note
Company/Estimate
Before the Open:
- (ANF)/-.12
- (AEO)/.22
- (AMWD)/1.92
- (ADI)/2.59
- (BIDU)/15.66
- (BBY)/1.02
- (BURL)/.52
- (CSIQ)/.38
- (DKS)/2.26
- (DLTR)/1.18
- (JACK)/1.36
- (MDT)/1.28
- (VIPS)/1.76
- (WMG)/.12
After the Close:
- (ADSK)/1.70
- (GES)/.55
- (HPQ)/.84
- (JWN)/.15
- (VMW)/1.60
Economic Releases
10:00 am EST
- The Richmond Fed Manufacturing Index for Nov. is estimated to rise to -8 versus -10 in Oct.
Upcoming Splits
- None of note
Other Potential Market Movers
- The Fed's Mester speaking, Fed's George speaking, Fed's Bullard speaking, 7Y T-Note auction, Australia PMI report and the weekly US retail sales reports could also impact global trading today.
- 9:30 am - 4:00 pm EST