From WSJ
  • US stocks continued to crash.
  • China market began to stabilize, while SH index reached 3000 before down again.
  • Even CAT dropped 3%.

Winners and Losers (in my watching list): UVXY+12.14%; PLTR-21.31%, RIVN-20.88%, EDU-16.39%.

Bond Market: 2Y dropped to 2.606, -9BPS; 5Y down to 2.951, -13.5BPs; 10Y barely moved to 3.128; 30Y barely moved to 3.225.

Equity Market: NASDAQ tumbled to 11623.25, -4.29%; DJI dropped to 32245.7, -1.99%; S&P 500 crashed to 3991.24, -3.20%.

Econ Calendar: US whole sale inventories 2.3%, in line with expectation.

Big News: John Lee became Hong Kong’s new leader. Elizabeth Warren crowds Biden. Biden kept silent on stocks.

Guess On Next Move: We could expect a rebound but it may not last long.

What Big Names Say:

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From CNBC
  • 3 major indexes tumbled after Powell talking about more hawkish stance during a conference with IMF.
  • China stocks continued to crash, some previous good stocks’ financial earnings in trouble.
  • Elon Musk said money for Twitter takeover secured.

Winners and Losers (in my watching list): UVXY+11.28%, UAL+9.31%, AAL+3.8%; DWAC-17.3%, DIDI-9.04%, OPEN-8.2%.

Bond Market: 2Y rose sharply to 2.703, +11.8BPs, 5Y also rose to 2.981, +12.1BPs, 10Y stayed at 2.911, -0.5BPs and 30Y dipped to 2.928, -6.4BPs. 10s2s, 0.208. TIPS recorded -0.125%.

Equity Market: NASDAQ closing at 13174.65, -2.07; DJI 34792.76, -1.05%; S&P 500 4393.66, -1.48%.

Econ Calendar: Initial Jobless claims 184K, lower than previous 186K.

Big News: Florida strips Disney of special status; Biden sends another round of 800MM worth of weapons.

Guess On Next Move: Be careful.

What Big Names Saying:

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