Wednesday Watch

Evening Headlines

Bloomberg:  

• Korean Stocks Fall, Won Recovers After Yoon’s Brief Martial Law.
• Australia’s GDP Growth Disappoints as Households Hunker Down.
• Stocks Fall on Korea Political Chaos; Won Recovers.
• Oil Holds Hefty Advance on OPEC+ Deal Progress, Iran Sanctions.
• Gold Settles After Turmoil in Korea, France Stokes Haven Buying.
• Bitcoin Churns Near $96,000 as Crypto Awaits Trump’s Next Step.
• UnitedHealth Forecasts 2025 Profit In Line With Street View.
• Marvell Rallies After AI Computing Demand Bolsters Outlook.
• Why 2024 Could Be the Biggest Year for Stock Buybacks.
• These Airlines Saw the Most Delays and Complaints in 2024.
• Meta Seeks New Nuclear Reactors to Run US Data Centers.

Zerohedge: 

• Fani Full Release Ordered After Fulton DA Sat On RICO Records.
• Visualizing Ukraine's Collapsing Front Lines Amid The Steady Russian Onslaught .
• Why It's Time To Abolish The Department Of Education.
• Iran Ready To Send More Troops To Syria, But This Could Trigger Deeper Israeli Entry.
• Universities Have A 2025 Rendezvous With Reality.
• Big boom potential: Best in 100 years.
• Majority Supports Social Media Ban For Children.
• Will the real economy please reveal itself...?
• Jury Begins Deliberation In Daniel Penny Trial.
• US indices finished mixed with stocks and bonds choppy on South Korea's martial law declaration and eventual backtrack - Newsquawk Asia-Pac Market Open.
• Newsom's Publicly-Funded War Chest: "Trump-Proofing" California Could Prove A Costly Option For Californians.
• South Korea Sparks Chaos Across Markets: Crude, Crypto, & Small Caps Wild; Won Lost.
• Stocks and Bonds chop to South Korea martial law updates ahead of Fed Chair Powell - Newsquawk US Market Wrap.
• The Looming Debt Crisis: Is America Following The Path Of Collapsed Empires?
• Solid Start To The Holidays: 5 Highlights From Goldman's Consumer Specialist.

The Wall Stree Journal:

• South Korea President Lifts Martial Law After Parliament Rejects Move.
• The Billionaire, His Mystery Wife and College Football’s Wildest Recruiting Saga.
• His Pardon Lies Were Pure Biden.  
• Hunter Biden’s Pardon: Your Tax Dollars At Work.
• Insurers Collected Billions From Medicare for Veterans Who Cost Them Almost Nothing.
• Senate Republicans Aim to Tackle Border First, Taxes Later.
• BlackRock Strikes $12 Billion Deal for HPS.
• Googling Is for Old People. That’s a Problem for Google.
• Zelensky Signals He’s Open to Negotiating a Peace Deal.
• Are Intel’s Problems Too Big to Fix?
• China’s Central Bank Pledges Supportive Policies For Economy.
• How Nvidia Could Surge to Double Apple’s Market Value.

CNBC:

• Bank of Korea holds emergency meeting after Yoon lifts martial law.
• Salesforce shares rise after earnings beat on revenue, fourth-quarter guidance.
• Dollar stores are struggling to win over bargain hunters — here’s why.
• Wednesday’s big stock stories: What’s likely to move the market in the next trading session.

MarketWatch.com:

• South Korea martial-law showdown: What U.S. investors need to know.
• ‘Contrarians aren’t being rewarded,’ and short sellers of U.S. stocks are giving up, says Citigroup.
• U.S. investors watch French budget mess amid memories of eurozone debt crisis.
• Salesforce’s revenue beat may serve as latest shot in the arm for software stocks.
• Top tech stocks are ‘cash machines,’ so keep buying, says the dean of valuation.

Fox News:

• House Dems mock Americans who can't afford groceries in 'tone deaf' social media post.
• 'Obama bros' lash out at Biden 'lying' and making Dems 'look stupid' with Hunter pardon.
• NYC mayor defends vet facing manslaughter charges in subway incident.
• Dem who helped AOC's rise to power says rep 'disappeared' from crime-plagued district.

Newsmax:

• Trump Team Agrees With DOJ to Begin Background Checks.

TheGatewayPundit.com:

• BOMBSHELL: Police Believe They Have Audio of OJ Simpson Confessing to the Murders of Nicole Brown Simpson and Ron Goldman.
• JUST IN: Woke Gun-Grabbing ‘Tyrant’ Chad Chronister, Who Also Arrested a Pastor During COVID, Withdraws As Trump’s DEA Pick Following Conservative Backlash.
• AMERICA LAST: Biden Pledges Another $3 BILLION Plus Over $1 Billion of Humanitarian Support to Africa in Rambling and Slurred Speech as Americans Continue to Struggle From Hurricane Flooding (VIDEO).
• Islamic Republic’s Parliament Officially Passes Strict “Chastity and Hijab” Laws.
• RINO Sen. Susan Collins Leaves Door Open to Confirming Kash Patel as FBI Director.
• Tren De Aragua? Eight Hispanics Shot in House in Chicago Town Known for Housing Illegals, Shooter Yet to Be Apprehended – Police Source Says Possible “Act of Retaliation” After One of The Victims Allegedly Murdered Someone in Venezuela.
• National Security Adviser Jake Sullivan Says “Massive Surge” of Military Equipment Headed to Ukraine Before Trump Takes Office.
• JUST IN: Majority Democrat Miami-Dade County Commission Votes to Name Street “President Donald J. Trump Avenue” After Trump’s Historic Victory.
• CNN’s Harry Enten Seems Surprised That Trust in the FBI Plunged Following J6 “The Lowest Number This Century” (Video).
• JUST IN: Wisconsin Judge Enforces Subpoena Against ActBlue in Lawsuit Over Fraudulent Use of Information for ActBlue Finance Money Laundering AKA “Smurfing”.
• US Housing Crisis Concealed by Government and Mass Media.
• Chinese Spy Lover Eric Swalwell Defends Hunter Biden Pardon.

The Epoch Times:

• South Korea Martial Law Decree Spotlights Communist Infiltration.

Around X:

• @elonmusk

• In 2023 alone, illegal immigration cost taxpayers $150.7 billion. To put this in context with other costs (adjusted for inflation): -World War I: $334 billion. -Apollo Space Program: $257 billion . -Manhattan Project: $30 billion. -Panama Canal: $15.2 billion. -Hoover Dam: $1 billion. The scale of spending on illegal immigration boggles the mind!

• @EricLDaugh

• HOLY SH*T! NYC Mayor Eric Adams just dared the left to "cancel" him over working with Border Czar Tom Homan and Trump. "Cancel me because I'm going to protect the people of this city." He says illegals are "committing crimes, robberies, sh*oting at police, r*ping innocent people." (video)

• @MarioNawful

• TUCKER FROM MOSCOW: "WE'RE IN A HOT WAR WITH RUSSIA AND NOBODY'S TALKING". Fresh from Moscow, Tucker Carlson drops a bombshell claim: The U.S. military recently killed Russian soldiers on Russian soil, yet most Americans don't know we're essentially at war. He says there's zero communication between Washington and Moscow—first time that's happened in decades. Claims the U.S. Embassy blocked his Zelensky interview attempts but just wrapped a chat with Russia's Foreign Minister Lavrov about whether Trump's return might end the conflict. Meanwhile, Tucker says we're closer to nuclear war than during the Cuban Missile Crisis. (video)

• @BasedMikeLee

• BREAKING: @EPA Advisor Admits ‘Insurance Policy’ Against Trump is Funneling Billions to Climate Organizations, “We’re Throwing Gold Bars off the Titanic”. “It was an insurance policy against Trump winning.” “Get the money out as fast as possible before they [Trump Administration] come in ... it’s like we’re on the Titanic and we’re throwing gold bars off the edge.” (video)

• @Liz_Churchill10

• EVERYTHING about ‘Covid’ was FRAUDULENT. Re-labelling ‘Flu Season’ as a ‘Pandemic’ to FORCE the WORLD to take an ‘Experimental Injection’ is a WAR CRIME. (graph)

• @EndWokeness

• BREAKING: Allexis Ferrell sentenced to 30 months for EATING A CAT in Ohio. (video)

• @WallStreetApes

• Joe Biden pardons Hunter Biden and no accountability for openly selling America to the highest bidders. Rep Byron Donalds on National TV saying they’ve found 20 Shell Companies for Joe Biden and Hunter Biden used for money laundering. ‌ “We’re up to over 20 shell companies”. The committee even came to the conclusion that there were no legitimate businesses the Biden’s owned tied to these shell accounts, they were used to strictly sell out America, “There is no business structure around this family, except politics.”

• @BarbaraOneillAU
  

• IMPORTANT: The food supply of every American is going to start being intentionally poisoned with mRNA genetic modifications being fraudulently called “vaccines.” They will be using mRNA vaccines in pigs and cows. (pic)

• @DC_Draino
  

• Why would Fulton County sue to hide election records?! The only reason you hide election data is b/c you’re hiding fraud and everyone knows it. Insane election corruption in Georgia and Brian Kemp just lets it happen. Disgraceful.

• @WallStreetSilv
  

• The US govt brings in about $5 trillion per year in revenue from taxes, fees and tariffs. The US govt is on pace to spend about $1.4 trillion for interest payments on the $36 trillion in debt during 2025. That will be about 28% of all govt revenue going to interest payments. (graph)

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 1,016,047 Reports(+2,606 from prior report) Through October 25, 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 -.75% to +.25% on average.

• Asia Ex-Japan Investment Grade CDS Index 72.0 -.25 basis point.

• China Sovereign CDS 63.5 unch.
  
• China Iron Ore Spot 105.2 USD/Metric Tonne -.01%

• Bloomberg Emerging Markets Currency Index 37.4 unch.
• Bloomberg Global Risk-On/Risk Off Index 65.5 -1.0%.
• Volatility Index(VIX) futures 16.0 +.1%.
• Euro Stoxx 50 futures -.14%

• S&P 500 futures +.07%.

• NASDAQ 100 futures +.20%.  

Morning Preview Links

BOTTOM LINE: Asian indices are mostly lower, weighed down by commodity and financial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher.  The Portfolio is 100% net long heading into the day.

Stocks Reversing Slightly Higher into Final Hour on Fed Rate-Cut Hopes, Earnings Outlook Optimism, Technical Buying, Tech/Pharma Sector Strength

Economic Gauges:

• Bloomberg Emerging Markets Currency Index 37.4 +.12%
• 3-Month T-Bill Yield 4.44% -5.0 basis points
  

• China Iron Ore Spot 105.6 USD/Metric Tonne +.4%
• Dutch TTF Nat Gas(European benchmark) 48.6 euros/megawatt-hour -.2%

• Citi US Economic Surprise Index 36.6 +2.3 points
  

• Citi Eurozone Economic Surprise Index -25.1 -.8 points

• Citi Emerging Markets Economic Surprise Index .9 +.6 point
• S&P 500 Current Quarter EPS Growth Rate YoY(485 of 500 reporting) +8.2% unch.
  
• S&P 500 Blended Forward 12 Months Mean EPS Estimate 270.34 +.12:  Growth Rate +13.3% unch., P/E 22.3 -.1
  
• S&P 500 Current Year Estimated Profit Margin 12.58% -1.0 basis point
  
• NYSE FANG+ Current Quarter EPS Growth Rate YoY(9 of 10 reporting) +33.3% unch.
  
• NYSE FANG+ Blended Forward 12 Months Mean EPS Estimate 383.53 +.16: Growth Rate +22.4% unch., P/E 32.8 unch.
  
• Bloomberg US Financial Conditions Index .87 +4.0 basis points
  
• Bloomberg Euro-Zone Financial Conditions Index 1.19 +15.0 basis points
  
• US Yield Curve 4.75 basis points (2s/10s) +5.25 basis points
  
• US Atlanta Fed Q4 GDPNow Forecast +3.16% unch.
  
• US Recession Within 6 Months Probability(3M/18M Forward Yld Curve Spread) 34.7% unch.
  

• Cleveland Fed Inflation Nowcast Core PCE YoY +2.94% unch.: CPI YoY +2.70% unch.
  
• 10-Year TIPS Spread 2.30 +3.0 basis points
  
• Highest target rate probability for Jan. 29th FOMC meeting: 60.7%(+3.6 percentage points) chance of 4.25%-4.5%. Highest target rate probability for March 19th meeting: 44.7%(+8.4 percentage points) chance of 4.0%-4.25%. (current target rate is 4.5-4.75%)
  

Overseas Futures:

• Nikkei 225 Futures: Indicating +61 open in Japan 
• China A50 Futures: Indicating -9 open in China

• DAX Futures: Indicating +51 open in Germany

Portfolio:

• Slightly Higher:  On gains in my tech/consumer discretionary sector longs
  

• Disclosed Trades: None
  

• Market Exposure: 100% Net Long
  

Bull Radar

Style Outperformer:

• Large-Cap Growth +.8%
  

Sector Outperformers:

• 1) Gold & Silver +3.2% 2) Shipping +2.3% 3) Video Gaming +1.5%

Stocks Rising on Unusual Volume:

• JANX, CRDO, ARQQ, PPTA, CNM, AOSL, MP, NBIS, ALAB, SHO, MNSO, UPST, FRO, APP, PTVE, JKS, PLTR, MXL, GPRK, PEB, FVRR, SNAP, TEVA, CENX, DAN, BTDR, CRESY, EDU, AXON, RLJ, VIST, SIMO, SKX, MSGE, TLK, OS, LOMA, TEN, FIVE, T, SMLR, MBLY, PK, INSW, DY, ATAT, MAG, DB and INSW
  

Stocks With Unusual Call Option Activity:

• 1) CHRS 2) CRDO 3) MP 4) NGD 5) PL

Stocks With Most Positive News Mentions:

• 1) JANX 2) CRDO 3) CTRN 4) SHO 5) CNM
  

Sector ETFs With Most Positive Money Flow:

• 1) SMH 2) XLC 3) VGT 4) XLP 5) IYC
  

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:

• (CPB)/.87
• (CHWY)/.06
• (DLTR)/1.07
• (FL)/.40
• (HRL)/.42
• (THO)/.71
  

After the Close: 

• (AVAV)/.76
• (AEO)/.46
• (FIVE)/.17
• (CHPT)/-.17
• (PVH)/2.59
• (SNPS)/3.30
• (VRNT)/.43
• (GIII)/2.28
• (RH)/2.66
  

Economic Releases

8:15 am EST

• The ADP Employment Change for Nov. is estimated to fall to 150K versus 233K in Oct.
  

10:00 am EST

• The ISM Services Index for Nov. is estimated to fall to 55.7 versus 56.0 in Oct.
• The ISM Prices Paid Index for Nov. is estimated to fall to 57.0 versus 58.1 in Oct.
• Factory Orders for Oct. is estimated to rise +.2% versus a -.5% decline in Sept.
  

2:00 pm EST

• Fed's Beige Book report release.
  

Upcoming Splits

• (ANET) 4-for-1
  

Other Potential Market Movers

• The Fed's Powell speaking, Fed's Musalem speaking, weekly MBA Mortgage Applications report, Barclays Eat/Sleep/Play Conference, Goldman Sachs Industrials/Materials Conference, Morgan Stanley Consumer/Retail Conference, Piper Sandler Healthcare Conference, UBS Tech Conference and the UBS Industrials 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:

• Volume Running +9.1% Above 100-Day Average 
• Nasdaq/NYSE Volume Ratio 12.1 +.1
  
• 5 Sectors Declining, 6 Sectors Rising
• 41.3% of Issues Advancing, 56.1% Declining 
• TRIN/Arms .80 -44.1%
  
• Non-Block Money Flow +$93.0M
  
• 101 New 52-Week Highs, 18 New Lows
• 63.5% (-.7%) of Issues Above 200-day Moving Average
• Average 14-Day RSI 66.0 +1.0
  

Other:

• Bloomberg Global Risk-On/Risk-Off Index 65.8 +2.1%
• Bloomberg Cyclicals/Defensives Index 245.1 -.1%
  
• Russell 1000: Growth/Value 20,365.6 +.7%
• CNN Fear & Greed Index 61.0 (GREED) -6.0
  
• 1-Day Vix 7.0 -4.4%
  
• Vix 13.3 -.5%
  
• Total Put/Call .79 -7.1%

Tuesday Watch

Evening Headlines

Bloomberg:

• China’s Yuan Falls to One-Year Low on Weak Growth, Tariff Risk.
• Trump Will Visit Paris to Celebrate Reopening of Notre Dame.
• Who’s Fighting and Why in the Revived Syrian War. 
• Korea Inflation Picks Up Less Than Expected in Sign of Stability.
• France Faces ‘Moment of Truth’ With Government on Brink of Collapse.
• BOJ Weighs Case for First Triple Hike Since Japan’s Bubble Burst. 
• Asian Stocks Rise With US Curbs on China in Focus.
• Oil Stabilizes Ahead of OPEC+ Supply Meeting as Volatility Drops.
• Cyber Monday $13.5 Billion Splurge Seen Beating Initial Forecast.
• Fed Officials Keep Options Open for December Rate Decision.
  

Zerohedge: 

• Biden-Linked Delaware Judge Rejects (Again) Musk's '70%-Shareholder-Approved' $56 Billion Pay-Package.
• Special Counsel Rejects Hunter Biden's Pardon, Files Scathing Rebuke In Court Case.
• NATO Chief Warned Trump 'Bad' Ukraine Peace Deal Is A 'Dire Threat' To US, Europe.
• Huge Hedge Fund "All-Or-Nothing" Trades Gain Traction.
• De Beers Pulls "Last Resort" Price Cut As Diamond Price-Floor Crumbles.
• The Failure Of COP29: Does The "Green Agenda" Have A Future?
• Nearly One In Five US Teens Experienced Depression Last Year.
• What Is The Administrative State?
• Yes, Mexico Knows Exactly What It Is Doing.
• Debanked: The Financial Suppression Of Bitcoin Businesses Must End.
• US stocks finished mixed and the dollar strengthened following Trump's tariff threat and a Goldilocks ISM Manufacturing report - Newsquawk Asia-Pac Market Open.
• Iran-Backed Iraqi Militias Pour Across Border Into Syria To Bolster Assad.
• Cartels Demand Higher Border Crossing Fees After Trump Victory.
• "They Must Be Eating Xanax Like Tic-Tacs..." - The Blob Has A Migraine.
• Stocks and Dollar catch bid after more Trump Tariff threats - Newsquawk US Market Wrap. 
• Paris, PMIs, & Puking Crypto: 'Good' News Sparks Re-Inversion Of Yield Curve.

The Wall Stree Journal:

• One Last Bundle of Falsehoods about Biden Family Business.
• Climate-Change Colonialism Keeps Poor Countries Impoverished.
• Pardon Me, Dad: The Hunter Biden Story.
• What to Know About the Unusual Pardon.
• China Tensions Prompt U.S. Navy Race to Reload Missiles at Sea.
• America’s Biggest Apartment Owner Takes a Leap Into Modular Homes.
• The Railroad on the Wrong Side of Trump’s Tariffs.
• GM to Exit Michigan EV Battery Plant.
• Hedge Fund Paloma Partners Offers IOUs to Fleeing Investors.
• Eli Lilly and Novo Nordisk’s Obesity Moat Just Got Stronger.

MarketWatch.com:

• 10 of Wall Street’s favorite dividend stocks for 2025 with yields of at least 4%.
• Why Nvidia and other chip stocks are mostly shrugging off latest China rules.
• Zscaler’s post-earnings stock drop further bucks 2024’s rally by software sector.
• Fed’s Waller says he supports interest-rate cut at next meeting — for now.
• Tesla’s stock surges after self-driving software update, new Street-high target.

Fox News:

• First lady addresses President Biden's decision to pardon son Hunter from criminal charges.
• Single congressional race stands between Republicans and 1-seat majority.
• What Trump told Trudeau at Mar-a-Lago that triggered nervous laughter.
• Biden bans new mining in key region that produces nearly half of US coal: 'It's a disaster'.
• What Americans are saying after President Biden's broad pardon of son Hunter.

TheGatewayPundit.com:

• ‘The View’s Whoopi Goldberg Goes Crazy Defending Hunter’s Pardon, Demands Co-Host Stop Calling Biden a Liar (VIDEO).
• Scott Jennings Torches CNN Panel on Joe Biden Pardoning Hunter: “He’s Leaving Office in Complete and Total Disgrace. He is a Liar and There is No Other Way to Spin This” (Video).
• Prosecutors in Special Counsel Dave Weiss’s Office Object to Hunter Pardon, Blast Joe Biden.
• IMMIGRATION U-TURN: Canada No Longer Welcomes Mass Migration, Launches Global Online Ad Campaign Cautioning Asylum-Seekers That ‘Making a Claim Is Hard’.
• Please Enjoy Democrat Rep. Dan Goldman Getting Absolutely Humiliated on CNN When He is Forced to Watch His Previous Comments on Joe Biden Pardoning Hunter (VIDEO).
• Karine Jean-Pierre GASLIGHTS the Public After Reporter Points Out Joe Biden Lied About a Hunter Pardon (AUDIO).
• Mike Davis Fires Warning Shot at Senate RINOs: Confirm Kash Patel or “Face The Political Wrath of The Article III Project” – Tell Your U.S. Senators to Confirm Kash Patel as FBI Director HERE (VIDEO).
• Biden Discussed Pardoning Hunter In June, Told Aides He Would Lie to the Public About Pardon Plans.
• Former CNN Lefty Crank John Harwood Gets Embarrassing Community Note on X.
• Colorado Officials Persecuting Tina Peters Worked for Dominion.
• Woke Jaguar’s Concept Cars Have Leaked Ahead of Official Reveal and They Are Absolutely Hideous. 
• ‘Should Be Disqualified!’ — Conservatives Slam Trump’s DEA Pick Chad Chronister for Being a Woke, Democrat Donor, Pro-Vaccine ‘Tyrant’ Who Arrested a Pastor During COVID.

The Epoch Times:

• Malaysia Warns China Against Using It to Avoid US Tariffs.
• How Does Alex Wong, Trump’s Incoming National Security Deputy, View China?
• China’s Rapid Space Militarization Raises Concerns.

Around X:

• @elonmusk

• Cancel culture has been canceled.
  

• @C_3C_3

• Wrap your head around this. President Trump was impeached over wanting to look into the crimes Joe Biden just pardoned Hunter for.

• @Wendyp4545

• BREAKING: U.S. to announce another $725 million in military aid for Ukraine. Western North Carolina $0 Ukraine $215 Billion.

• @bennyjohnson

• BREAKING: Special Counsel David Weiss rejects Hunter Biden’s bid to dismiss his indictment, saying a pardon doesn’t erase the charges.

• @WallStreetApes

• Entire towns in Mexico are turned into ghost towns due to the threat of the cartels. “They fear we could be kidnapped”. The child trafficking business is now so huge with cartels stealing kids and taking them into America, entire towns have left. This is insane. (video)
• New digital pricing has come to American grocery stores. He says that he’s seen the pricing change based on time of day and how many items are left, “They'll fluctuate based off of demand”. - If it’s 6pm, the price goes up. - Once the inventory on these items become low, the prices will start to shoot up to $1.20. “They're gonna start incorporating all these all over. Yeah, so it's pretty crazy. I'll come back later on in the day and you'll see this go up and down in price. You'll see it go as low as like 89 cents, which is pretty crazy”. Welcome to dystopia. (video)
• This is so insane. “US government has been hiring an average of 50,000 workers per month for the past 2 years. 50,000 workers per month for 2 years straight”. “Which is one of the highest rates in 30 years”.

• @BehizyTweets

• BREAKING: Wisconsin Judge Brad Schimel has approved a subpoena against ActBlue, saying, "Something is NOT right" after hearing evidence that ActBlue is using the names of unsuspecting people to launder dark money to Democrat campaigns. “There may be an element of fraud, or maybe it is innocent. Plaintiff has set forth enough in their complaint and in support of their subpoena to demonstrate that there may be something here.”

• @matt_vanswol

• FEMA seems to be very confused why the people of #WNC are choosing to NOT use the hotel vouchers they are handing out... Let me explain:
  

• @goddeketal

• I spent half my life pursuing a PhD in biotechnology. I dedicated myself to honest science—running experiments, being critical, and trying to disprove my own hypotheses. Eventually, I earned my degree. It was grueling but meaningful work. Then you see this. This woman just received a PhD from one of the so-called “elite” universities for a thesis claiming that describing smells is racist. Yes, you read that right. The core of her research? If you say someone stinks, people like them less—a concept any child learns from cartoons at age four. Her abstract is stuffed with pretentious language and inflated words, making a simple idea sound profound. But what’s worse is that this kind of “scholarship” is increasingly being legitimized.

• @amuse

• KASH PATEL: Did you know that Kash has more prosecutorial experience than 4 of the last 10 FBI Directors? He's got more defense experience than 8 of them. Ironically, Kash is one of the most qualified directors in the last last 30 years.

• @Liz_Wheeler

• Trump’s pick for DEA head Chad Chronister withheld taxpayer money from unvaccinated deputies if they got sick. He gave taxpayer money to vaxxed deputies. Despicable. Please, Pres. Trump, withdraw this nomination. The last thing we need in federal law enforcement is more tyranny.

• @NickAdamsinUSA
  

• Azeez Al-Shaair wears pro-terrorism messages on his cleats and faces no consequences. Nick Bosa wears a MAGA hat in a postgame interview and he gets fined the maximum amount by the NF. Boycott the NFL.

• @EricLDaugh

• BREAKING: Elon Musk confirms that Kash Patel is MAGA's "line in the sand" and that GOP senators will face political challenges if they do not vote to confirm him for FBI director.

• @TheBuckYouWill

• WE ARE BEING POISONED. The Trudeau government is poisoning you. Bovaer is a feed additive given to cows to stop farts and it's been in our food supply for a year! I'M SERIOUS. The gov't has NO LONG TERM studies to see how it impacts humans. THIS IS SCARY SHIT.

• @DerrickEvans4WV
  

• PEOPLE NEED TO WAKE UP... Your 7-year-old wakes up exhausted. Not because he's sick. Because it's 6AM. You pour him cereal. Not because it's healthy. Because it's quick. He stares at an iPad. Not because it's good for him. Because you need to get ready. The school calls later: "He can't focus" "He can't sit still" "He needs testing" The doctor writes a prescription. Not because your boy is broken. Because the system is. The truth? His brain is FIGHTING:

OpenVAERS:

• VAERS US COVID Vaccine Adverse Event Reports. 1,016,047 Reports(+2,606 from prior report) Through October 25, 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 +.25% to +1.25% on average.

• Asia Ex-Japan Investment Grade CDS Index 72.25 -.5 basis point.

• China Sovereign CDS 63.5 -1.0 basis point.
  
• China Iron Ore Spot 104.40 USD/Metric Tonne -.2%

• Bloomberg Emerging Markets Currency Index 37.3 -.05%.
• Bloomberg Global Risk-On/Risk Off Index 65.3 +1.4%.
• Volatility Index(VIX) futures 16.1 +1.1%.
• Euro Stoxx 50 futures +.39%

• S&P 500 futures +.18%.

• NASDAQ 100 futures -.01%.  

Morning Preview Links

BOTTOM LINE: Asian indices are modestly higher, boosted by technology and industrial shares in the region. I expect US stocks to open mixed and to rally into the afternoon, finishing modestly higher.  The Portfolio is 100% net long heading into the day.