Bear Radar

Style Underperformer:

• Small-Cap Value -1.8%
  

Sector Underperformers:

• 1) Homebuilding -5.0% 2) Gambling -3.0% 3) Telecom -2.1%

Stocks Falling on Unusual Volume: 

• ATEN, RMD, JE, JBI, HUBB, TRMD, FRO, LI, TCOM, SAEF, WWE, HKIT, VFS, NTGR, AAN, HE and MANU
  

Stocks With Unusual Put Option Activity:

• 1) GTLB 2) JETS 3) MSOS 4) GLW 5) WM
  

Stocks With Most Negative News Mentions:

• 1) MANU 2) PHM 3) LEN 4) AGTI 5) EOSE
  

Charts:

• ETFs Falling on Unusual Volume
• Stocks Falling on Unusual Volume

Bull Radar

Style Outperformer:

• Large-Cap Growth +.1%
  

Sector Outperformers:

• 1) Disk Drives +19% 2) Oil Service +1.6% 3) Energy +1.4%

Stocks Rising on Unusual Volume:

• INSM, CABA, OLMN, BRC, ZLAB, LBRT, ASAI, HASI, ABNB, NXGN, GCT, SGML, MTN, LUNG, APLE, OMCL, PINC, BXMT, XRX, HSAI, MNSO, CF, TRIP, PINS, DO, PSTG, IONQ, UDMY, DWAC, BX, AB, FTI, OXY, ASLE, EOG, ASLE, FTI, CATY and TSLA
  

Stocks With Unusual Call Option Activity:

• 1) GTLB 2) XLU 3) ABNB 4) CDE 5) DOW

Stocks With Most Positive News Mentions:

• 1) BRC 2) MTN 3) KLAC 4) NXGN 5) BX
  

Charts:

• ETFs Rising on Unusual Volume
• Stocks Rising on Unusual Volume

Tomorrow's Earnings/Economic Releases of Note; Market Movers

Earnings of Note 
Company/Estimate 

Before the Open:

• None of note
  

After the Close: 

• (AEO)/.16
• (AI)/-.12
• (PLAY)/.95
• (GME)/-.14
• (VRNT)/.57
  

Economic Releases  

8:30 am EST

• The Trade Deficit for July is estimated to widen to -$68.0B versus -$65.5B in June.
  

10:00 am EST

• The ISM Services Index for Aug. is estimated to fall to 52.5 versus 52.7 in July.
  

2:00 pm EST

• US Fed Beige Book release.
  

Upcoming Splits 

• None of note
  

Other Potential Market Movers

• The Australia GDP report, weekly MBA Mortgage Applications report, Wells Fargo Healthcare Conference, Jefferies Industrials Conference, weekly US retail sales reports, TD Cowen Transport Conference, UBS Chemicals Conference, (ALGN) investor day, (DHR) investor meeting, (HUBS) analyst day and the Evercore ISI Semi/Semi Equip Conference could also impact global trading tomorrow.

US Equity Market Hours

• 9:30 am - 4:00 pm EST

Mid-Day Market Internals

NYSE Composite Index:

• NYSE Volume Running -6.0% Below 100-Day Average 
• Nasdaq/NYSE Volume Ratio 9.0 -.4
  
• 7 Sectors Declining, 4 Sectors Rising
• 23.7% of Issues Advancing, 73.0% Declining
• 37 New 52-Week Highs, 43 New Lows
• 47.1%(-5.2%) of Issues Above 200-day Moving Average
• Average 14-Day RSI 52.0 -4.0
  
• Bloomberg Global Risk-On/Risk-Off Index 71.7 +1.4%
  
• Russell 1000: Growth/Value 17,796.4 +.88%
• 1-Day Vix 8.4 -19.4%
  
• Vix 13.95 +.95%
  
• Total Put/Call .89 -8.3%
• TRIN/Arms .72 +2.9%
  

Tuesday Watch

Today's Headlines

Bloomberg:

• Huawei Teardown Shows Chip Breakthrough in Blow to US Sanctions.
• Xi’s Unexplained G-20 Snub Erodes Image as Global Statesman. 
• China’s Mortgage Relaxation Spurs Weekend Sales in Mega Cities.
• Country Garden Has Just Days to Avoid Default on Dollar Bonds.
• Debt Crisis Threatens to Engulf China’s Surviving Developers.
• Kim Jong-Un Seeks ‘Leader-Level’ Talks With Russia on Arms Deals, US Says.
• Trafigura Says ‘Fragile’ Oil Market May Be Prone to Price Spikes.
• Brazil Analysts Lift Growth Bets After Economy Outperformed Anew. 
• Asia Stocks Set to Fall as China Property in Focus: Markets Wrap.
• Stocks Cede China-Led Gains in Thin Holiday Trade: Markets Wrap. 
• Oil Executives Are Surprisingly Optimistic on Chinese Demand.
• Iran’s Booming Oil Exports Are Poised to Slow for Rest of Year
• Labor Day Progress Report: A Shift Down to Cruising Speed for US Job Market.
• US Stock Investors’ Complacency is Worrying, JPMorgan Strategists Warn. 

Zero Hedge:

• Watch: Fauci Squirms As CNN Anchor Confronts Him With Data Showing Masks Don't Work.
• Retailer's Revenge! Obese Jewelry Thief Gets Whipped Then Stripped.
• The Economist Who Cried Recession.
• Bond MOVEs and tech trust.
• Biden 'Not Worried' About Major UAW Strike On Automakers.
• Round Two Of A Foreign-Backed Plot To Fragment Syria.
• Labor Day News Round Up - Newsquawk Asia-Pac Market Open.
• Biden Built 'Predictable' Loophole That Resulted In Flood Of Illegal "Family Units" Into US.
• Drunk Drivers Causing Parental Deaths Now Liable For Child Support In Texas.
• Zuckerberg's "Twitter Killer" App Struggles For Traction. 
• Victor Davis Hanson: What The Left Did To Our Country. 
• Goldilocks And The Four Bears.
• Simple Joe: Biden's Biggest Fear Is Being Perceived As 'Stupid' According To Biographer. 
• Key Events This Week: It's A Slow Start To The Unofficial Beginning Of Fall. 
• Musk's Father Worried About Assassination After Escalating Attacks. 
• Republicans Last Chance: "A Dreadful Time Of Testing Whether The Country Can Endure Any More Of This".
• Chinese Property Stocks Soar After Latest Beijing Support, Country Garden Debt Deal.
• Vivek Ramaswamy Now A White Supremacist, According To Democrat Party.
• US Stock-Bond Ratio Poised To Keep Downward Bias.
• Futures, Global Stocks Rise As China Property Rescue Kicks In; US Markets Closed For Labor Day.
• Zelensky Sacks Defense Minister In Biggest Shake-Up Since War's Start.
• Pfizer Asks Court To Revoke Moderna's COVID-19 Vaccine Patents.
• British Court Rules That Competent & Conscious Patient Can Be Denied Life-Sustaining Treatment Against Her Will.
• France To Ban Abayas In Schools.
• German Electricity Imports Hit New Record As Nuclear Phase-Out Increases Production Cost.
• Downfall Of The Brexit Doomers.
• Country Garden bolsters APAC performance; ECB speak due - Newsquawk Europe Market Open.
• Direct Government Censorship Of The Internet Is Here.
• Air Force Wants To Replace Highly Effective Modern A-10 With 'Flying Tinderbox'.
• 15 Years On, Google's Chrome Has Taken Over The World.
• Conflicting Dates In Trump Trials Unfair, Must Be Resolved, Experts Say.
• Japan Seeks Record Defense Budget Amid Threats From China, North Korea.

Wall Street Journal:

• Biden’s Age, Economic Worries Endanger Re-Election in 2024, WSJ Poll Finds.
• Chinese Gate-Crashers at Bases Spark Concerns.
• Inside a Sales Army Turning a Tax Break Into a Modern-Day Gold Rush.
• Cities to Cruise Ships: You’re Bringing Too Many Tourists Here.
• Investors Head Into Fall With Jitters After Summer Rally.
• How Worried Should We Be About AI’s Threat to Humanity? Even Tech Leaders Can’t Agree.
• Who Should Eat the Cost of Pricier Delivery Menus?
• Top Job for Congress: Avoiding a Government Shutdown.
• China Creates Government Body to Support Private Sector.
• Austin Russell Doesn’t Want Self-Driving Cars to Replace Humans.
• Labor Could Be Detroit’s Next Big Disruption.
• Warren Buffett’s Green Cash Washes Over Coal Country.

CNBC:

• Germany is the ‘sick man of Europe’ — and it’s causing a shift to the right, top economist says.
• Oil giant led by COP28 boss to spend $1 billion a month on fossil fuels this decade: Global Witness.
• Delta is the No. 1 domestic airline for on-time arrivals, service, comfort and more.
• Why youth unemployment is surging in China. 
• Biden’s age, economic record are major concerns as Trump rematch looms: Poll.

Reuters:

• Mercedes-Benz: Europe likely won't be ready for all-electric sales by 2030.
• Dollar eases as risk appetite improves on China's measures.
• Oil stable on prospect of extended OPEC+ supply cuts.

MarketWatch.com:

• Energy stocks getting ready to take the lead again after crude’s August bounce, says strategist.
• Bad economic news is good news for stocks. When will that change?

NewsMax:

• Trump: Election 'Rigging' by Indictment 'Won't Hold Up'.
• Rep. Tim Burchett: Elderly, Weak Are Swamp's 'Gravy Train'. 
• GOP to Seize on Accounting Error in Ukraine Aid Fight.

Fox News:

• Attempt to bar Trump from 2024 ballot gains steam despite legal arguments.
• Hospital employee leaks DEI training pushing 3-year-olds identifying as transgender.
• Governor sends illegal immigrants to Democrat's doorstep but there's no red carpet treatment.
• Fauci makes pivotal admission about masking making a comeback.

TheGatewayPundit.com:

• Welcome to Campus: College Freshmen Given Condoms, Sexually Explicit Content in “Welcome” Package at North Carolina State.
• VIDEO: Lesbian Marxist American Library Association President Brags About Subverting “Normal Family Types” and Makes Anti-White Statements.
• Biden’s America: Majority Living Paycheck to Paycheck, Even Six-Figure Earners Overwhelmed.
• Burning Man Descends Into Chaos, Attendees Turn on Each Other as They Desperately Try to Flee Muddy Hellhole, Chris Rock Escapes in Back of Fan’s Truck (VIDEO).
• So Much for Free Speech: Twitter Shuts Down Generation Identity after Meeting with ADL’s Jonathan Greenblatt.
• Unfit to Serve? Obesity Epidemic Creating Recruitment Woes, National Security Risk – Biden’s DEI Policies Don’t Help.
• ‘Fight Fire with Fire’: Trump Calls on Republican DAs and AGs to Get Up Off the Mat.
• Chicago Teachers Union President Opposes School Choice, Except for Her Child.
• J6 Political Prisoner Zachary Alams’ Defense Attorneys PROMISE to Put Ashli Babbit’s Murderer Officer Michael Byrd on Stand at September 5th Trial!
• Wait, What? Even the CDC Now Admits That the Vaccinated Likely Have a Higher Risk of Infection With New Covid Variant.
• Use”Paper and Pencil… Digital Records are More Permanent:” Colorado Teachers Union Directs Educators How to HIDE and DESTROY Evidence of LGBTQ Indoctrination. 
• CDC & FDA Ignored U.S. Military Investigation Revealing Vaccine Failures, New FOIA Documents Reveal.
• Massachusetts Calls Up National Guard To Cope With Ilegal Immigrants Amid Protests.
• “Be Careful What You Wish For!” – President Trump Warns Democrats and DC Elites What Waits for Them When He Wins Again.
• Vaccine? No, it’s Long-Long Covid – ‘Experts’ Publish Warning That Covid Can Kill For Up to TWO YEARS Post-Infection.

The Epoch Times:  

• 6 Countries Reject China's New '10-Dash Line' Map That Includes Taiwan.
• US-China Tech Freeze Worries US Investors, Startups.
• China’s Economy Remains a Bad Bet.
• US Must Be ‘Vigilant’ of Chinese Investors Buying Farmland, Businesses: Commerce Secretary.

Twitter:

• @XVanFleet - Joseph Bast, former president and CEO of The Heartland Institute on the "climate" agenda: "Back in 1993, we identified 'global warming' as the mother of all environmental scare tactics…..Groups on the left understood that if you can control energy, you can control human beings. (video)
• @matttttt187 - UN food chief, David Beasley, warns that "hell on earth" food shortages will occur in 2023, as a result of fertiliser shortages. (video)
• @ANTIWEF - Hellman’s mayonnaise is now made with “bioengineered sources”. (pic)
• @TomFitton - Arson Confirmed as the Cause of Louisiana's Largest-Ever Wildfire in History (VIDEO).
• @DrJBhattacharya - At the @UMich, students testing covid positive must leave their dorms for 5 days & live in the community. A hotel room or a relative's house is ok. This cruel policy is designed to spread covid from the university into the wild. It won't stop covid from spreading @umich.
• @betterworld_24 - CDC Has Released a Public Statement Apparently you are more susceptible and more likely to contract "BA.2.86" if you have been VACCINATED. (video)
  

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 983,973 Reports(+1,886 from prior week) Through August 25th, 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

• Asian indices are -.25% to +.25% on average.
• Asia Ex-Japan Investment Grade CDS Index 117.5 -8.5 basis points.
  
• China Sovereign CDS 69.5 -6.5 basis points.
• China Iron Ore Spot 115.1 USD/Metric Tonne +.34%.
  
• Bloomberg Emerging Markets Currency Index 42.5 -.03%.
• Bloomberg Global Risk-On/Risk Off Index 70.75 +.03%.
• Bloomberg US Financial Conditions Index .34 unch. 
  
• Volatility Index(VIX) futures 16.15 -.37%. 
• Euro Stoxx 50 futures n/a.
• S&P 500 futures -.05%.
• NASDAQ 100 futures +.04%.

Morning Preview Links

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

Today's Headlines

Bloomberg:

• Chinese Banks Lend Billions to Russia Amid Western Sanctions: FT.
• Biden ‘Disappointed’ If Xi Plans to Skip G-20 Summit in India.
• China’s Fragile Recovery Keeps Policymakers on Alert.
• Zelenskiy Says He’s Removing Ukraine Defense Chief in Revamp.
• Lithium Giant Albemarle Nears $4.3 Billion Liontown Takeover.
• Italy Finance Minister Defends Bank Tax, Hedges on Paschi Timing. 
• Money and Politics Put World’s Biggest Climate Deal at Risk.
• Mercedes Bets on Range Boost in Swipe at Tesla’s EV Leadership.
• Diamond Prices Are in Free Fall in One Key Corner of the Market. 
• Asia Stocks Look Set to Advance Amid US Holiday: Markets Wrap.
• Oil Industry Elite Hits Singapore to Debate Crude’s Next Twist.
• Higher-for-Longer Mantra Starts to Weigh on Emerging-Market Debt.
• Killings Grip Arab Towns in Israel as Wave of Violence Builds.
• Apple Is Set to Embrace an iPhone Charger Change It Didn’t Want.
• AI Fused With Trade Data May Finally Smooth Clunky Supply Chains. 
• Five Key Charts to Watch in Global Commodity Markets This Week.

Zero Hedge:  

• The Real Shocker In Friday's Jobs Report: 1.2 Million Native-Born Workers Lost Their Jobs, And Were Replaced With 668K Foreign-Born Workers. 
• FDA, CDC Hid Data On Spike In COVID Cases Among The Vaccinated: Documents.
• 'Mudpocalypse' Hits Burning Man, 73,000 Trapped In 'Toxic' Lake Bed In Nevada Desert.
• California Democrat Regrets Backing Liberal Crime Bill Amid Retail Theft 'Epidemic'.
• Oklahoma School Hires Drag Queen Principal Once Arrested For Child Porn, Drugs.
• "Screw Your Face Diapers!!" Mask Mandate Return Sparks 'We Will Not Comply' Trend.
• "Election Interference!" Trump Slams NY Attorney General Over 'Targeted' Prosecution.
• Pharmacists Continuing To Refuse Ivermectin Prescriptions, Raising Ethical Concerns.
• California Lawmakers Advance Bill To Let Killers Serving Life Without Parole Request Reduced Sentence.
• Weekend News Round Up - Newsquawk Asia-Pac Market Open.
• Florida Doctor Reinstated After Losing Board Certification For Criticizing COVID-19 Vaccines.
• GOP Lawmaker Questions DOJ About $280 Billion In Lost COVID Relief.
• Corporate Media Gripped A Nation In "Climate Anxiety" Despite Scientists Who Say 'No Emergency'.
• Visualizing The Monthly Cost Of Buying Vs Renting A House In America.
• "Black Lives Don't Seem To Matter When Taken By Black Lives": Maher, Rogan Go Off.
• UAW President Has "Only One True Enemy, Multibillion Dollar Corporations".
• Federal Court Rules Against FDA Over Anti-Ivermectin Posts.
• When Will They Learn? "Price Gouging" Benefits People In Disaster Areas.
• EU Labels Anyone Calling For Peace A "Kremlin Propagandist", Hungarian Minister Exclaims.
• US To Arm Ukraine With Toxic Depleted Uranium Munitions.
• Solutions Are Scary: Part 1 – It's Time To Bring Back Citizen Militias.
• These Are The Richest Billionaires In Each US State.
• Pentagon Extends Troop Deployment At US-Mexico Border Through September.
• San Francisco Records More Than A Dozen Suspected Overdose Deaths In One Day.
• These Are The Highest-Earning Creators Of The Internet Content Machine.
• Iowa Governor Kim Reynolds Tries To Scrub Her Lockdown Record.

Wall Street Journal:

• The Climate-Change ‘Emergency’ Is Coming for You. We’ve not fully arrived at crazytown. But the urge to curtail individual freedom is visible in countless blueprints for a controlled future.
• Why You Should—or Shouldn’t—Upgrade to the iPhone 15.
• The Disappointing Bet That Could Turn Into the Biggest IPO of 2023.
• Tractor Supply Won Over City Slickers. Now It Needs to Keep Them—and Farmers.
• Parents Have a New Incentive to Fund ‘529’ Plans.
• Stock Funds’ 2023 Gain Is Trimmed to 13.7%.
• It Takes a Village, but in California Parents Aren’t Welcome. A state challenge to a school gender-identity policy shows how ideologues think families can’t be trusted with their own children.

CNBC:

• More unmarried couples are buying homes together. What to know before you do.
• This is the No. 1 way to raise a resilient kid, new study says.
• U.S. Commerce Secretary says she ‘didn’t pull any punches’ during recent visit to China.
• Top Wall Street analysts pick these 5 stocks for compelling returns, including Nvidia. 
• Why artificial intelligence may become your employer: Robert Reich.

MarketWatch.com:

• Wall Street analysts are increasing corporate profit forecasts for the first time in two years.
• A question for Labor Day: Who won the tug-of-war over remote work?

NewsMax:

• Dr. Birx: ‘We Don't Need to Mandate’ Masks.
• Trump Lawyer Lindsey Halligan: 'Sloppy' Convictions Being Sought.
• Chad Wolf to Newsmax: WH Making Illegal Migration a Priority.

Fox News:

• SEE IT: Mexico sends bold message near US border with piece of history: 'Bloodies nations'.
• City's new rule punishes all kids after liberal policies allow crime to run rampant. 
• Mayor stunned by squatters' stomach-churning destruction: 'Third-world country stuff'. 
• ABC host shocked on live TV by results of poll pitting Trump against Biden in rematch.

TheGatewayPundit.com:

• Explosive Revelation: Fani Willis Linked To Massive Election Fraud And Money Laundering RICO Enterprise!
• “I’m Sick and Tired of Politicians Standing on Graves of Dead Children in Case of Shootings or Natural Disasters – to Pimp for Their Politics” – Will Cain Wins the Day with Anti-Biden Rant (VIDEO).
• Oops! Marching Nazi Forgets His Lines – Tell Reporters He’s a Biden Supporter (VIDEO).
• US Dept. of Defense to Detect “Disinformation” with The Help of AI – Will Crack Down on Conservatives in Social Media Despite Current Lawsuits.
• Biden Admin Kneecaps Task Force Charged with Protecting Kids from Predators Amid Criminal Surge.
• Women’s Lacrosse Coach at Oberlin College Defended Girls’ Sports and Was Subjected to Disciplinary Hearings (VIDEO).
• Biden Makes Excuses for Not Visiting East Palestine, Ohio – Cites His Busy Schedule (VIDEO).
• JUST IN: Best Buy Fires Whistleblower Who Went Public After Exposing Manager’s Ban on Christian Symbols at the Workplace – So He’s Fighting Back with a Lawsuit.
• Parents Outraged After Teachers Union Tells Educators to Destroy Evidence of Student Surveys Regarding Gender Identity.
• Florida Fire Department Issues Warning to EV Owners After Seeing What Hurricanes Trigger.
• 12-Year-Old Boy Dies Suddenly After Suffering Cardiac Arrest During PE Class.
• Hospital That Fired Nurses for Refusing Vaccines Now Begging Them to Return.
• Find the Fed: Here’s Hoping Someone Can Identify the Tattooed “Nazis” at Gathering in Florida …UPDATE: One Nazi Identified – Says He Was Backed by CIA. 
• “We Need a Miracle” – Family Distraught After Pennsylvania High School Quarterback is Rushed to the Hospital After Collapsing on Field (VIDEO).
• Find the Fed: Laura Loomer Identifies Leader of “Goyim Defense League” With Ties to the ADL.
• Arson Confirmed as the Cause of Louisiana’s Largest-Ever Wildfire in History (VIDEO).
• Disgusting! Mexico Places Piece of Berlin Wall Next to Open US Border saying “May This Be a Lesson!”

The Epoch Times:

• Japan Demands Reversal of Beijing’s ‘Unreasonable’ Seafood Ban.
• Italy May Leave China's Belt and Road Initiative, Dealing Major Blow.

Twitter:

• @crushthemarket - #China is laughing at Australia's dumb #energy policies, as they go all in for #coal & nuclear. China abandons climate change fight.
• @GoBrypto247 - Hawaii Truth. (video) 
• @Liz_churchill10 - What am I missing here? Klaus Schwab’s Father was a Nazi that owned forced Labour Camps that won awards. Klaus Schwab is the President of WEF. Jonathan Greenblatt is the President of the ADL…a member of WEF…and he’s in control to make sure people aren’t acting like Nazis? (video)
• @Libsoftiktok - If a hospital has the words “gender affirming care” with a picture of a 3-year-old, that’s a sign to run the other way as fast as possible. Why would a doctor need to “affirm” a 3-year-old’s gender? Boston Children’s Hospital chemically castrates and mutilates children.
• @DrLoupis -  It’s just as easy to buy a climate “expert” as it was to buy a COVID “expert”. (pic)
• @wideawake_media - Award-winning journalist, Alex Newman: The "human-induced global warming" narrative is merely a pretext for unelected globalists to control every aspect of your life, under the guise of "saving the planet". "The notion that CO2 is pollution is absolutely preposterous... (video) Geologist, Professor Ian Plimer, blows the "human-induced global warming" lie completely out of the water, in under a minute: "We've had six ice ages in the history of the planet. Every one of these started when we had more carbon dioxide in the atmosphere than now... If carbon dioxide drives global warming, then we wouldn't have had an ice age." (video)
• @GameofTrades_ - The yearly change in credit card default rate is now at levels higher the 2008 Financial Crisis. (graph)
• @bambkb - According to Klaus Schwab, soon, we don’t need elections anymore, “because AI will be able to predict what people want”. (video)
• @Breaking911 - DESANTIS: “It’s interesting how incurious our corporate media is about what happened in Maui. I don’t see them interviewing parents who can’t find their kids. We know there's a lot of people missing." (video)

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 982,087 Reports(+2,217 from prior week) Through August 18th, 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.