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More from the Ford CEO: - Have seen Mach-E profit wiped out by rising commodity costs

10:58 Crypto Hedge fund Three Arrows Capital said to be facing insolvency following crypto downturn - press - Source TradeTheNews

Ford CEO stating that auto loan delinquencies increasing. Follow up on this I find interesting: He also states that SUV demand remains robust despite gas prices. I remember living in the states in ~2005 (pre financial crisis) and gas prices hit $3 and people lost their minds. SUVs were being...

10:12 [TSLA] PlainSite legal blog makes renewed allegations of fraud against Telsa - Tweets: "We obtained internal $TSLA documents from a number of whistleblowers that prove that Tesla and Elon Musk have been defrauding investors for years in a variety of different ways. But the most...

The issue with the hike today becomes about credibility. Markets have been pricing in a 75bp move. However, Powell had just said 75bp moves are off the table at the meeting last month. Doing an about face on that admits that inflation is out of control and that he is wrong. Despite the fact I...

https://nypost.com/2022/06/14/data-likely-shows-teslas-on-autopilot-crash-more-than-rivals/ 14:46 [TSLA] NHTSA data likely shows Tesla Autopilot has disproportionately more crashes than rival automated driving systems - NY Post - In coming days, the National Highway Traffic Safety...

11:58 [COMP] Said to cut ~10% of workforce due to slowdown in US housing market - press

12:03 [RDFN] Asking ~8% of workforce to leave the Co, could be facing years, not months of fewer home sales - filing Due to market conditions, on June 12, 2022, we decided to reduce our number of employees by approximately 470 employees, which represents approximately six percent of our total...

Wait, we bounced?

Speaking of: - Prior PPI Final Demand MoM revised lower from 0.5% to 0.4% - Prior PPI Final Demand YoY revised lower from 11.0% to 10.9% - Prior PPI (ex-food/energy) MoM revised lower from 0.4% to 0.2% - Prior PPI (ex-food/energy/trade)MoM revised lower from 0.6% to 0.4% - Prior PPI...

13:30 *(US) MAY PPI FINAL DEMAND M/M: 0.8% V 0.8%E; Y/Y: 10.8% V 10.9%E - PPI Final (ex-food/energy) M/M: 0.5% v 0.6%e; Y/Y: 8.3% v 8.6%e - PPI Final (ex-food/energy/trade) MoM: 0.5% v 0.6%e; Y/Y: 6.8% v 6.9%e PPI just slightly under estimates.. queue the talking heads resuming the "peak...

Coinbase announcing they are reducing their staff by 18%.

5B sell side moc

https://www.bloomberg.com/news/articles/2022-06-13/microstrategy-s-bitcoin-bet-backfires-as-losses-near-1-billion?srnd=premium&sref=9HT8lz40

https://www.wsj.com/articles/bad-inflation-reports-raise-odds-of-surprise-0-75-percentage-point-rate-rise-this-week-11655147927?mod=breakingnews https://www.bloomberg.com/news/articles/2022-06-13/wall-street-floats-100-basis-point-fed-hike-as-inflation-stings?srnd=premium&sref=9HT8lz40

Bitcoin 23k

$REV (Revlon) preparing to file for Ch11 bankrupty as soon as this week. The first of many to come.

They did this in 2018 when we had zero inflation. They were trying to normalize rates upwards and the markets puked in Q4. Fed backed off and we continued the bull run in 2019. The massive elephant in the room now is 40 year high persistent inflation. That is going to take precedence over the...

Youd think you would learn about whole number orders. hah.

My DIS filled right at closing candle of the day.

Starlink?

10:37 (US) Market Trading Hours Summary: May CPI print a gut punch for markets Summary: May CPI data ran significantly hotter than expected across the board. Headline data returned to the highest annual pace since 1981, spurred by surging energy prices. Airfares and a rebound in used car prices...

Today? Not likely. After the Fed next week? Quite possible. See market summary below:

$DIS 99.50 a significant level we are close to.

10:00 *(US) JUNE PRELIMINARY CONSUMER CONFIDENCE: 50.2 V 58.1E (record low) - Current conditions: 55.4 v 62.9e (record low) - Expectations: 46.8 v 55.3e (lowest since May 1980) - 1 year inflation expectations 5.4% v 5.3%e - 5-10 year inflation expectations 3.3% v 3.0% prior (highest since 2008)

08:30 *(US) MAY CPI M/M: 1.0% V 0.7%E; Y/Y: 8.6% V 8.3%E (highest annual pace this year and since 1981; above all analyst expectations) - CPI (ex-food/energy) M/M: 0.6% v 0.5%e; Y/Y: 6.0% v 5.9%e - CPI Index NSA: 292.296 v 291.694e - CPI Core Index SA: # v 291.945e

Had the same fleeting thoughts re WH pres sec talking an elevated print. Part of me thinks "underpromise, overdeliver?" In that case, the sell yesterday would likely get bought violently if we come in under. However, I am not so sure that is the case. Also keep in mind, this is a lagging...

08:10 (US) Preview: May CPI data expected at 08:30 ET (12:30 GMT) **Consensus expectations: - CPI MoM: 0.7%e v 0.3% prior; YoY: 8.3%e v 8.3% prior - CPI (ex-food/energy) MoM: 0.5%e v 0.6% prior; YoY: 5.9%e v 6.2% prior - CPI Index NSA: 291.694e v 289.100 prior; CPI Core Index SA: 291.945e v...

15minutes to CPI data for April. Other news, NFLX downgraded to "sell" by Goldmans.

15:38 [AMD] CEO Su: Believe we will see a down PC market this year - Investor Day

You could be the ECB (Euro Central Bank) today and announce boosted inflation outlook and lowered GDP forecast all the way through 2024. **While also deciding to leave rates at 0%!!

3B sell side MOC

SPY trying to break below this 8 session long trading range (407.04). If we get a hot CPI print tomorrow, we can very quickly be back to lows.

US) SEC said to probe UST stablecoin crash on Terra - press - Source TradeTheNews

14:39 (US) White House Press Sec: we expect the inflation numbers on Friday will be 'elevated' White House apparently getting out in front of Friday's CPI print.

12:30 (US) SEC Gensler outlines plan for new stock market rules; Would consider routing equity trades into competitive auctions - New rules would mandate market makers disclose more data around payment for order flow fees and timing of trades - SEC rules would include an agency specific...

They were when the free stimulus money was rolling in. Not so much now. You can also see this in graphics card inventories / prices returning to "normal".

09:07 [INTC] CitiGroup Reiterates INTC with Neutral; Expect Intel to negatively pre-announce or miss 2Q22 guidance (update) Yesterday (7 June) at a competitor conference, Intel appeared to talk down the quarter as company management mentioned that circumstances are worse than expected during...

Trading that SPY 407-417 range. Simple as. Break above or below is the move, until then, chop in this zone. (This is the 7th consecutive trading day in this range. Consolidation for a leg higher, or a breakdown to follow.. take your pick)