UMich Sentiment surges to 55.1, Exp. 52.5, Last 51.5

Inflation expectations:
1Yr: 5.0%, Exp. 5.1%, Last 5.2%
5-10Yr: 3.0%, Exp. 2.8%, Last 2.9%
*S&P 500 OPENS UP 0.5%, NASDAQ 100 CLIMBS 0.7%
"all it will now take is the SPR being refilled just before the mid-term elections (no!), and we flip into an energy price reversal (i.e., upwards) just ahead of winter." - Rabobank
Here we go again:

"GS Most Rolling Short basket +121bps today....up in 7 of last 8 trading sessions and +18% during this stretch. HF covering continues to be the most noteworthy demand on our desk."
Europe bracing for apocalypse
Russia May Buy Yuan, Rupees, Lira for Wealth Fund: Central Bank
Ken Griffin has spent over $1 billion on personal real estate.

"Providing liquidity" to Robinhood investors sure is lucrative
“We’re having another moment where the market is not listening to central banks. Marginally, investors are very reluctant to sell anything and want to buy." - Muzinich
"Today, equity and commodity markets are signaling to investors more persistent demand and higher commodity inflation, while rates and inflation curves are signaling an impending slowdown and softening of the economy" - Goldman
Quote of @Newsquawk
Not with midterms getting closer
No one:

Flawed Michigan survey: "would be a shame if I ruined your Friday"
ES 4222: right on the 50 fib

Breaking news

LISTEN: We're discussing falling gas prices and inflation on "This week, your wallet."
U of M 1 Yr Inflation (Aug P) 5% vs 5.1% Expected, 5-10 yr 3% vs 2.8% $SPY
US Univ. Of Michigan Sentiment Aug P: 55.1 (est 52.5; prev 51.5) - Current Conditions: 55.5 (est 57.8; prev 58.1) - Expectations: 54.9 (est 48.5; prev 47.3) - 1-Year Inflation: 5.0% (est 5.1%; prev 5.2%) - 5-10 Year Inflation: 3.0% (est 2.8%; prev 2.9%)
📺 LIVE: Will regulations go too far during crypto winter? @DickinsonLaw Professor @IPProfEvans joins "Money Reimagined" host @mikejcasey to discuss how prices have ultimately tipped the balance in favor of regulators. More on : |  Link
U of M Sentiment (Apr P) 55.1 vs 52.5 Expected $SPY
Disney and ESPN fianlly embrace sports betting |  Link
Once, a river ran through it. Now, white dust and thousands of dead fish cover the wide trench that winds amid rows of trees in France’s Burgundy region via @AP Link
Dutch detain suspected developer of crypto mixer Tornado Cash |  Link
Meet BRILLO, the bartending robot that can make small talk (via @CNBCMakeIt) |  Link
On Aug. 22, schools in the Philippines will finally reopen their doors to students after two and a half years – one of the longest pandemic-induced school closures in the world (via @CityLab) |  Link
Job unhappiness is at a staggering all-time high, according to Gallup |  Link
Analyst: Sell Target stock into earnings by @BrianSozzi Link
Popular meditation app maker Calm reportedly lays off 20% of employees |  Link
Loop Capital retains a $1 price target on the stock, saying the recent surge has done nothing to change the company's fundamentals. |  Link
WATCH: From Warren Buffett shrugging off a tough quarter to bragging rights for Disney, we round up the big stories in business and finance this week
Stocks rise on Friday as S&P 500 heads for fourth straight winning week |  Link
Your iPhone can identify any song with just a tap. Here's how to set it up |  Link
US stocks rise as investors assess signs inflation is coming down |  Link
Some of China's largest state-owned firms will delist from the US market amid ongoing auditing battle between the 2 countries |  Link
84% of Gen Z is hoping for a housing market crash |  Link
South Korea's President Yoon Suk-yeol pardoned Samsung Electronics’ Vice Chairman Jay Y. Lee, with the justice ministry saying the business leader was needed to help overcome a ‘national economic crisis.’ Read more: |  Link
Rhine River Said To Fall To ‘Critical 40cm Mark’ At Key German Waypoint
Today's Capital Journal: Trump Won't Oppose Release of Search Warrant; House Set to Pass Climate, Healthcare and Tax Bill |  Link
Credit Suisse names its top stock picks for the rest of 2022 |  Link
The stubbornness of higher inflation has surprised many investors and flummoxed central bankers. What mysterious phenomenon explains it all? Mayonnaise. Read The Big Take: |  Link
India's Life Insurance Corp June-quarter premium income jumps |  Link
BofA upgrades Alliant Energy to buy, saying it will benefit from climate bill |  Link
US Implements Heightened Export Controls On Advanced Semiconductor, Gas Turbine Engine Technologies - Statement
Retire in Hawaii if you want a "dream life by the beach," says millionaire—but beware of these 3 biggest downsides. (via @CNBCMakeIt) |  Link
Hedge funds and asset managers are speculating on Japan’s yen, intensifying swings in a currency usually known as a refuge during troubled times |  Link
A new European gas pipeline link could be ready in 9 months as support builds to bypass Russian supplies |  Link
Analyst call of the day for @CNBCPro subscribers: Bank of America reiterates Rivian as buy and says the electric vehicle company is in the “right place/time with right product/strategy.” Subscribe to see the analyst calls of the day curated by CNBC Pro. |  Link
What the Investing Club is watching — Rivian backs EV goal, Six Flags and Lennar downgraded |  Link
Mark Cuban says buying metaverse real estate is "the dumbest shit ever" |  Link
.@nlw is joined by @jillrgunter of @EspressoSys. The pair discuss the legal recourse of @TornadoCash sanctions, and how the solutions might be technological, not political. |  Link
An activist investor is urging the New York Times to raise prices and double or triple its profit margins |  Link
Every young person should see this chart to understand their 'greatest money-making asset' (via @CNBCMakeIt) |  Link
Dutch detain suspected developer of crypto mixer Tornado Cash |  Link
LISTEN NOW: The CDC eases its Covid guidance as the U.S. prepares to return to schools and offices this fall. Listen and follow the @CNBCWEX podcast here or on your favorite podcast platform: |  Link
Do you attend or work for a university that focuses on blockchain training or research? Nominate your school for CoinDesk’s annual Best Universities for Blockchain list: #CoinDeskUniversities Link
This stock market indicator is flashing a bullish sign: Chart by @BrianSozzi Link
Pharma stocks crater as investors brace for billions in heartburn drug litigation charges |  Link
U.S. public pensions suffer worst year since the financial crisis by @alexandraandnyc Link
Crypto futures and options are flashing a warning for Ethereum: The upcoming upgrade could be a “sell-the-news”-type of situation |  Link
Lori Heinel oversees $3.5 trillion as State Street's investment chief. She told us where she's starting to put her historically large cash holdings to work. |  Link
China's tight lending, weak consumer demand, unemployment, and other factors are hurting small businesses and start-ups that are most in need of funding. |  Link
Asset manager likes this chip stock so much, he’s putting his own money into it |  Link
LIVE: The Netherlands arrests a suspected developer of @TornadoCash. @SecretNetwork's @TorBair weighs in on privacy concerns. Plus, Ethereum miner @ChandlerGuo discusses his plans to fork the blockchain and @marcmakingsense joins "First Mover":
Here are five things you must know for Friday, August 12: |  Link
Stocks were poised to extend their rally after data pointed to easing price pressures. |  Link
Russian state depository files lawsuit to overturn EU sanctions |  Link
US-listed China Stocks Slip on Delisting Moves, Analyst Sees Short-term Noise $BABA $PDD $JD |  Link
Germany’s military suspends all reconnaissance and transport operations in Mali after a planned personnel rotation was blocked |  Link
CORRECTION: The story has been corrected to remove any mention of an official update from Tornado Cash and also clarifies that the instances of the website being down is based on some user tweets. |  Link
Elon Musk and Nikola made moves this week on the heels of the Senate passing a bill that would boost cleaner commercial vehicles |  Link
California should invest tens of billions of dollars in water recycling, storage and desalination over the next two decades as the state gets drier and hotter, Governor Newsom says |  Link
“I’ve got a bad feeling about this” |  Link
Here are Friday's biggest analyst calls: Rivian, Oracle, Teladoc, Bed Bath & Beyond, Walmart & more |  Link
Europe is turning to floating LNG terminals as it scrambles to solve its natural gas crisis |  Link
Bitcoin traders may be wrong to conclude inflation has peaked and the Fed will slow rate hikes. At least that's what bond markets are suggesting - reports @godbole17 Link
U.S. import prices declined in July — a 2022 first |  Link
Import prices decline in July for the first time this year |  Link
Five Chinese state-owned companies said they intend to delist their American depositary shares from the NYSE, as regulators in Beijing and Washington remain at loggerheads over U.S. audit requirements |  Link
One of Vladimir Putin’s top Kremlin aides is leading negotiations to decide the fate of Russia’s most popular search engine Yandex |  Link
The US and Europe typically use these months to replenish supplies of heating oil and diesel for the winter, but they're currently way behind schedule and running out of time to catch up via @opinion Link
U.S. is ‘not going anywhere,’ Middle East envoy says, as China’s Xi expected to visit Saudi Arabia |  Link
How to pick the best MacBook so you're not overspending for what you don't need |  Link
More than a dozen developers in a central Chinese province are seeking help from their local government to restore property sales in the face of protests from disgruntled homebuyers |  Link
The ECB will stop hiking interest rates after the end of 2022, when recession and easing price pressures will restrain monetary-policy tightening, according to HSBC |  Link
The NY-10 district, which was formed after a chaotic, court-ordered redrawing of congressional lines, has attracted a crowded field of a dozen Democratic candidates |  Link
Former Chancellor Rishi Sunak reveals Boris Johnson has been ignoring his calls since he resigned from Cabinet |  Link
Biden senior advisor Anita Dunn has to divest investment portfolio worth between $16.8 million and $48.2 million to avoid conflicts |  Link
26% of job switchers regret joining the Great Reshuffle, survey finds: 'They’ve sobered up' |  Link
Anne Heche is "not expected to survive" a severe car crash that left her in a coma, according to her family |  Link
- US Import Price Index M/M Jul: -1.4% (est -1%, prevR 0.3%) - Import Price Index Y/Y Jul: 8.8% (est 9.4%, prev 10.7%) - Export Price Index M/M Jul: -3.3% (est -1%, prev 0.7%) - Export Price Index Y/Y Jul: 13.1% (prev 18.2%)
Import Price Index (Jul MoM) -1.4% vs -1% Expected $SPY
Colombia's new leftist government wants to cut inequality by redistributing wealth, rethinking the war on drugs, and raising money for poverty-fighting programs. It won't be so easy. 🚨Tune in for a discussion with our LatAm team at 11 a.m. ET |  Link