EconCurrents is transitioning to Substack in 2025. The existing newsletter will be discontinued no later than 01February2025 .Note that the stock markets will not be open tomorrow. The stock markets and government offices will be closed on Thursday, January 9, 2025, in observance of a national day of mourning for former President Jimmy Carter. Therefore there will be no newsletter tomorrow. |
Summary Of the Markets Today:
- The Dow closed up 107 points or 0.25%,
- Nasdaq closed down 11 points or 0.06%,
- S&P 500 closed up 9 points or 0.16%,
- Gold $2,681 up $15.50 or 0.590%,
- WTI crude oil settled at $73 up $0.91 or 1.21%,
- 10-year U.S. Treasury 4.677 up 0.006 points or 0.128%,
- USD index $109.01 up $0.47 or 0.43%,
- Bitcoin $93,811 down $2,805 or 2.99%, (24 Hours),
*Stock data, cryptocurrency, and commodity prices at the market closing
Today’s Highlights – Market Summary
US stocks showed mixed performance on Wednesday as investors reacted to reports of President-elect Donald Trump potentially declaring a national economic emergency to implement proposed tariffs. The S&P 500 and Dow Jones Industrial Average saw slight gains, while the NASDAQ Composite closed marginally lower. The market was influenced by several key factors. Trump’s potential tariff plans: CNN reported that Trump is considering using emergency powers to enact his proposed tariff framework, which has caused some market uncertainty. Minutes from the Fed’s December meeting indicated support for a gradual pace of interest rate cuts in 2025. Recent strong economic indicators, including service sector growth and job openings, have raised concerns about persistent inflation. The 10-year Treasury yield remained around 4.7%, reflecting market expectations of potentially slower interest rate cuts. Private sector job growth slowed in December, but unemployment claims unexpectedly fell, suggesting a stable labor market. Investors are closely monitoring these developments as they assess the economic outlook and potential policy shifts under the incoming Trump administration.
Click here to read our current Economic Forecast – January 2025 Economic Forecast: Little Change And Still Indicating a Weak Economy – One Recession Flag Removed
Today’s Economic Releases Compiled by Steven Hansen, Publisher:
Private employers added 122,000 jobs in December 2024 according to ADP. Hiring slowed in several industries. Employment in manufacturing shrank for the third straight month. Pay gains continued to slow. Year-over-year pay for job stayers was up 4.6 percent. For job-changers, pay rose 7.1 percent. Most of this year, one month ADP has higher employment gains – then the next month, the BLS has higher gains,. If this pattern continues – the BLS employment gains in December will be less than 122,000. But 122,000 is far from stellar growth, and below the growth necessary to employ new entrants to the labor force. According to Nela Richardson, Chief Economist, ADP:
The labor market downshifted to a more modest pace of growth in the final month of 2024, with a slowdown in both hiring and pay gains. Health care stood out in the second half of the year, creating more jobs than any other sector.
November 2024 sales of merchant wholesalers were up 0.9% from the revised November 2023 level. Total inventories were up 0.8% from the revised November 2023 level. The November inventories/sales ratio for merchant wholesalers was 1.33. The November 2023 ratio was 1.35. I am sure that NOBODY in government knows really what a wholesaler is – and the statistics are likely garbage. The inventory to sales ratios are little changed which normally indicates there is no inventory gain (which is a sign of recession).
In the week ending January 4, the advance figure for seasonally adjusted initial unemployment claims 4-week moving average was 213,000, a decrease of 10,250 from the previous week’s unrevised average of 223,250. The unemployment claims are low historically and consistent with a growing economy.
The Federal Open Market Committee (FOMC) meeting in December 2024 provided updated economic projections and insights into monetary policy decisions. Note that I do not believe inflation is under control as any new development could set off another round of inflation. Key points include:
Economic Projections
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- Real GDP growth: Median projection revised upward to 2.5% for 2024 and 2.1% for 2025.
- Unemployment rate: Projected to be 4.2% in 2024, slightly lower than previous estimates.
- Inflation: PCE inflation projections raised for 2024 (2.4%) and 2025 (2.5%).
Monetary Policy
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- The federal funds rate was lowered by 25 basis points to a range of 4.25% to 4.5%.
- FOMC members anticipate two 25 basis point rate cuts in 2025, totaling 50 basis points.
- The median projection for the federal funds rate at the end of 2025 is now 3.9%, up from 3.4% in September.
Economic Outlook
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- Inflation is expected to continue moving towards the 2% target, but the process may take longer than previously anticipated. Several participants observed that the disinflationary process may have stalled temporarily or noted the risk that it could.
- Economic activity continues to expand at a solid pace, with consumer spending stronger than expected. Participants believe the strength of economic activity was unlikely to be a source of upward inflation pressures.
- Labor market conditions are gradually easing while remaining solid overall.
Risks and Uncertainties
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- Upside risks to inflation have increased due to recent higher-than-expected readings and potential policy changes.
- Uncertainties remain regarding the effects of potential changes in trade and immigration policies – bottom line they were worried about Trump.
- The Committee views risks to its dual mandate objectives as roughly balanced.
The FOMC indicated a cautious approach to future policy decisions, emphasizing the need to carefully assess evolving economic conditions and maintain flexibility in monetary policy adjustments.
According to the Federal Reserve, “In November, consumer credit decreased at a seasonally adjusted annual rate of 1.8 percent. Revolving credit decreased at an annual rate of 12 percent, while nonrevolving credit increased at an annual rate of 2 percent.” Two things: 1) this data is not inflation adjusted and at least 2% should be subtracted from growth for inflation; and 2) I prefer year-over-year analysis which shows total consumer credit is up 1.7% year-over-year with components revolving credit (credit cards) up 3.6% year-over-year and nonrevolving credit (like car loans and student loans) up 1.0% year-over-year. The trend lines show less and less reliance on credit for consumer spending which constrains consumer spending.
Here is a summary of headlines we are reading today:
- New Railway to Connect China, Kyrgyzstan, and Uzbekistan
- Taliban Takeover of Afghanistan Fuels Militancy in Pakistan
- Chevron Targets $6-8 bln In Free Cash Flow Growth By 2026
- DOE Issues $1.8B Loan Guarantee To Arizona Utility For Renewable Energy
- Guyana’s Crude Oil Exports Surged by 54% in 2024
- Higher Taxes Could Slow China’s Fuel Oil Imports
- Trump Not Ruling Out Force in Threats to Take Over Panama Canal
- Nvidia’s Jensen Huang is ‘dead wrong’ about quantum computers, D-Wave CEO says
- First major stock benchmark nears correction as small-cap Russell 2000 trade unravels
- Judge approves Tesla directors’ nearly $1 billion deal to end excess pay case
- Bitcoin falls to $94,000, giving back most of 2025’s early gains: CNBC Crypto World
- This January indicator is an ‘early warning system’ for how the year will go
- FOMC Minutes Show ‘Almost All’ Fed Members See Higher Inflation Risks, Cite Trump Policies
- Most Fed officials were worried about higher inflation, but not enough to put rate hikes on the table, minutes of December meeting show
Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.
The Market in Perspective
| Here are the headlines moving the markets. | |
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Will 2025 Be a Turning Point for Climate Policy?Eight in ten people agree that the average global temperature will increase in 2025, according to an Ipsos survey of more than 23,700 people across 33 countries, conducted between October 25, 2024 and November 8, 2024. Around nine in ten respondents in Indonesia, the Philippines, Malaysia, Singapore and China said they thought this is the case. At the same time, around seven in ten respondents worldwide said it is likely that there will be more extreme weather events in their country in 2025 than in 2024. Despite this consensus, Statista’s Anna… Read more at: https://oilprice.com/The-Environment/Global-Warming/Will-2025-Be-a-Turning-Point-for-Climate-Policy.html |
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New Railway to Connect China, Kyrgyzstan, and UzbekistanAfter a long search to line up financing, officials from China, Kyrgyzstan and Uzbekistan have signed an investment agreement to build a railway that could reduce costs and cut transit times for Westward-bound freight rail traffic. But it is still going to be years before the first freight train rolls on the new route, and the route’s profit potential remains uncertain. In his New Year’s address, Kyrgyz President Sadyr Japarov, long the railway’s most ardent proponent, portrayed the route as an economic game-changer for the Central… Read more at: https://oilprice.com/Geopolitics/International/New-Railway-to-Connect-China-Kyrgyzstan-and-Uzbekistan.html |
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Taliban Takeover of Afghanistan Fuels Militancy in PakistanPakistani warplanes bombed a village in the country’s northwest in the fall of 2007, killing around 50 people. The air strikes occurred in the district of North Waziristan during the height of militancy in the South Asian country. “That was the darkest era of terrorism,” said Adil Dawar, a local activist whose uncle and cousin were among those killed in the attack. Northwestern Pakistan, a stronghold of Al-Qaeda and the Tehrik-e Taliban Pakistan (TTP), was the scene of deadly Pakistani counterterrorism operations and U.S. drone… Read more at: https://oilprice.com/Geopolitics/International/Taliban-Takeover-of-Afghanistan-Fuels-Militancy-in-Pakistan.html |
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Chevron Targets $6-8 bln In Free Cash Flow Growth By 2026Chevron Corp.(NYSE:CVX) is well positioned to grow its free cash flow by $6 billion to $8 billion by next year, and lower expenses by “a couple billion dollars,” Chevron CEO Michael Wirth announced on Wednesday. America’s second largest oil and gas company expects to achieve these results thanks to the start of new or expanded oil production projects in Kazakhstan, growth in U.S. shale and offshore U.S. Gulf of Mexico. Chevron has projected oil production growth in the Gulf of Mexico to clock in at 300,000 barrels per day by 2026, up from… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Chevron-Targets-6-8-bln-In-Free-Cash-Flow-Growth-By-2026.html |
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National Security or Protectionism? Biden Blocks U.S. Steel SaleVia Metal Miner The Raw Steels Monthly Metals Index (MMI) remained sideways with a slight downside bias, falling 1.49% from December to January. Meanwhile, the blocked sale of U.S. Steel could significantly affect steel prices in 2025. Biden Blocks Nippon-U.S. Steel Sale After the Committee on Foreign Investment in the U.S. (CFIUS) came to a split decision, the sale of U.S. steel met a bitter end. In early January, President Biden made good on his promises to block Japan’s Nippon Steel Corporation from acquiring the mill. Nippon’s $14.9… Read more at: https://oilprice.com/Metals/Commodities/National-Security-or-Protectionism-Biden-Blocks-US-Steel-Sale.html |
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DOE Issues $1.8B Loan Guarantee To Arizona Utility For Renewable EnergyThe U.S. Department of Energy’s (DOE) Loan Programs Office (LPO) on Tuesday has announced a conditional commitment for a loan guarantee of up to $1.81 billion to Arizona Public Service Company (APS) to help the electric utility invest in clean energy infrastructure. A key project that will be supported by the proposed loan will be the construction of the 150-MW/600-MWh Agave Battery Energy Storage (BESS) project sited next to a solar park. The Loan Programs Office at the Department of Energy (DoE) has gone into overdrive in a bid to… Read more at: https://oilprice.com/Latest-Energy-News/World-News/DOE-Issues-18B-Loan-Guarantee-To-Arizona-Utility-For-Renewable-Energy.html |
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ADNOC’s Aggressive Push for Global Energy AssetsAbu Dhabi’s national oil company ADNOC continues to expand its global footprint in both upstream and downstream sectors. ADNOC Logistics and Services (L&S) announced the completion of a $1.08 billion acquisition of an 80% stake in UK-based product tanker operator Navig8. This acquisition gives ADNOC L&S control of a modern fleet of 32 tankers and expands its portfolio to include commercial pooling and bunkering services. Additionally, ADNOC L&S revealed that it will acquire the remaining 20% of Navig8 by mid-2027 for a deferred… Read more at: https://oilprice.com/Energy/Energy-General/ADNOCs-Aggressive-Push-for-Global-Energy-Assets.html |
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Guyana’s Crude Oil Exports Surged by 54% in 2024Strong European demand for Guyana’s crude pushed the oil exports of the South American country soaring by 54% last year, with Europe accounting for the majority of shipments, Reuters reported on Wednesday, quoting shipping data and traders. Crude oil exports from Guyana averaged about 582,000 barrels per day (bpd) last year, as ExxonMobil and its partners Hess Corp and CNOOC of China continued to boost production from the offshore Stabroek Block, where more than 11 billion oil-equivalent barrels have been discovered to date. European refiners… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Guyanas-Crude-Oil-Exports-Surged-by-54-in-2024.html |
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Large Jump in Fuel Inventories Outweighs Crude DrawCrude oil prices were flat on the day, after the U.S. Energy Information Administration reported an estimated inventory draw of 1 million barrels for the first week of 2025. The authority also estimated builds in fuel inventories but both gasoline and diesel stocks remain below the five-year average. The crude inventory draw compared with another modest of 1.2 million barrels for the last week of 2024, which was accompanied by substantial builds in gasoline and middle distillates that failed to elicit a bearish response from the market at the time.… Read more at: https://oilprice.com/Energy/Crude-Oil/Large-Jump-in-Fuel-Inventories-Outweighs-Crude-Draw.html |
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BP to Help India Boost Production at Its Largest OilfieldIndia’s largest exploration and production firm, state-held Oil and Natural Gas Corporation Limited (ONGC) has hired supermajor BP to be the technical services provider of its efforts to boost production at India’s biggest oilfield, ONGC said on Wednesday. India has been looking to increase its domestic oil and gas output in a bid to reduce its high dependence on imports. Currently, India, the world’s third-largest crude oil importer, relies on imports to cover more than 80% of its daily consumption of oil. BP, for its part, has… Read more at: https://oilprice.com/Latest-Energy-News/World-News/BP-to-Help-India-Boost-Production-at-Its-Largest-Oilfield.html |
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Porsche’s China Sales Slump Drags Down Luxury EV MarketGermany’s largest automaker has recorded sliding profitability, with its China unit under pressure as demand for luxury automobiles wanes. Specifically, demand for its Porsche Taycan has run out of juice, leading to significant markdowns. Bloomberg Intelligence’s Joel Levington published a note on Monday highlighting the bleak demand story for the Porsche Taycan, which has forced the struggling German automaker to offer markdowns of $22,500. Additionally, the vehicle’s used value plummeted in 2024, while data from iSeeCars research finds… Read more at: https://oilprice.com/Energy/Energy-General/Porsches-China-Sales-Slump-Drags-Down-Luxury-EV-Market.html |
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Higher Taxes Could Slow China’s Fuel Oil ImportsDue to a hike in import tariffs, Chinese imports of fuel oil are set to slow at the start of the year, which could further weigh on the refining margins of the independent refiners in the world’s top crude oil importer. China’s smaller private refiners, which are short on crude import quotas or haven’t been allocated such, import fuel oil to process it into more valuable fuels for transportation, including diesel and gasoline. However, as of January 1, 2025, China is raising its import tariff on fuel oil to 3% from 1%. As a result,… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Higher-Taxes-Could-Slow-Chinas-Fuel-Oil-Imports.html |
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Shell Flags Weaker Q4 LNG Output and Significantly Lower TradingShell expects its LNG production and trading and oil trading businesses to book significantly lower results for the fourth quarter of 2024, due to seasonality and timing of lifting, the UK-based supermajor said on Wednesday. For the third quarter, Shell booked better-than-expected earnings on the back of strong performance in its gas division which offset weak refining margins in the downstream business. Now previewing the fourth-quarter results, the international oil and gas firm expects to book on a group level a charge of $1.3 billion for Q4,… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Shell-Flags-Weaker-Q4-LNG-Output-and-Significantly-Lower-Trading.html |
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India’s Power Generation Growth at Slowest Pace Since CovidWeakening economic growth in the second half of the year slowed the increase in India’s electricity generation in 2024 to the slowest pace since the 2020-2021 pandemic, according to a Reuters analysis of government grid data. India’s power generation continued to rise last year, by 5.8% from 2023, to 1,824.13 billion kilowatt-hours (kWh), per the data from federal grid regulator Grid-India analyzed by Reuters. This is robust growth by global standards, but slower by India’s standards. India, which has seen much higher GDP growth… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Indias-Power-Generation-Growth-at-Slowest-Pace-Since-Covid.html |
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Trump Not Ruling Out Force in Threats to Take Over Panama CanalIncoming U.S. President Donald Trump is not ruling out military or tariff pressure to achieve his plans to acquire control over the Panama Canal and Greenland, the President-elect told a press conference in Mar-a-Lago on Tuesday. Since winning the U.S. presidential election in early November, Trump, who will be inaugurated on January 20, has said on several occasions that he would pursue the acquisition of Greenland, a self-governing Danish territory, from Denmark, as well as the Panama Canal in Central America. The President-elect has said that… Read more at: https://oilprice.com/Latest-Energy-News/World-News/Trump-Not-Ruling-Out-Force-in-Threats-to-Take-Over-Panama-Canal.html |
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Fed officials are worried about the inflation impacts from Trump’s policies, minutes showThe Federal Reserve on Wednesday released minutes from its December meeting. Read more at: https://www.cnbc.com/2025/01/08/fed-minutes-january-2025.html |
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Nvidia’s Jensen Huang is ‘dead wrong’ about quantum computers, D-Wave CEO saysD-Wave Quantum shares plunged 36% on Wednesday after Nvidia CEO Jensen Huang suggested that quantum computers are decades away. Read more at: https://www.cnbc.com/2025/01/08/nvidia-ceo-jensen-huang-is-dead-wrong-about-quantum-d-wave-ceo.html |
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At least two dead as Los Angeles wildfires destroy homes, force thousands to evacuateMultiple wildfires tore across the Los Angeles area with devastating force, destroying more than 1,000 structures and killing at least two people. Read more at: https://www.cnbc.com/2025/01/08/wildfires-rage-in-los-angeles-forcing-tens-of-thousands-to-flee.html |
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Quantum stocks like Rigetti plunge after Nvidia’s Huang says the computers are 15 to 30 years awayQuantum computing stocks dropped Wednesday after Nvidia CEO Jensen Huang declared that useful quantum computers are likely decades in the future. Read more at: https://www.cnbc.com/2025/01/08/quantum-stocks-like-rigetti-plunge-after-nvidias-huang-says-the-computers-are-15-to-30-years-away.html |
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First major stock benchmark nears correction as small-cap Russell 2000 trade unravelsThe Russell 2000 is experiencing a weak start to the year. Read more at: https://www.cnbc.com/2025/01/08/russell-2000-trade-unravels-as-index-nears-correction-territory.html |
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Shares of California utility Edison International drop more than 10% as wildfires rageThe decline comes as multiple large fires are burning around Los Angeles, with strong winds in the forecast that could make them difficult to contain. Read more at: https://www.cnbc.com/2025/01/08/shares-of-california-utility-edison-international-drop-more-than-10percent-as-wildfire-rages.html |
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Man arrested trying to enter U.S. Capitol with machete as Carter lies in stateU.S. Capitol Police said they arrested a man trying to enter the Capitol complex with a machete and three knives as former President Jimmy Carter lay in state. Read more at: https://www.cnbc.com/2025/01/08/man-arrested-trying-to-enter-us-capitol-with-machete-as-carter-lies-in-state.html |
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Judge approves Tesla directors’ nearly $1 billion deal to end excess pay caseTesla directors got court approval for a settlement worth up to $919 million that requires they return compensation to the carmaker. Read more at: https://www.cnbc.com/2025/01/08/judge-approves-tesla-directors-deal-to-end-excess-pay-case.html |
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Bitcoin falls to $94,000, giving back most of 2025’s early gains: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what’s ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today’s show, JP Richardson of Exodus discusses the self custody firm’s listing on the New York Stock Exchange. Read more at: https://www.cnbc.com/video/2025/01/08/bitcoin-falls-to-94000-giving-back-most-of-2025s-early-gains-cnbc-crypto-world.html |
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Used vehicle prices expected to continue to stabilize in 2025 after pandemic volatilityCox Automotive expects wholesale prices on its Manheim Used Vehicle Value Index will end this year 1.4% higher than in December 2024. Read more at: https://www.cnbc.com/2025/01/08/used-car-prices-2025.html |
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NHL plans to host two outdoor games in Florida in 2026The National Hockey League is enjoying growth in Florida, where two of its most successful current franchises, the Lightning and Panthers, play. Read more at: https://www.cnbc.com/2025/01/08/nhl-plans-to-host-two-outdoor-games-in-florida-in-2026.html |
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Why Trump’s pursuit of Greenland could be cheered on by RussiaPresident-elect Donald Trump’s ongoing pursuit of Greenland may have raised the hackles of Denmark, but his territorial ambitions might find support in Russia. Read more at: https://www.cnbc.com/2025/01/08/why-trumps-pursuit-of-greenland-could-be-cheered-on-by-russia.html |
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This January indicator is an ‘early warning system’ for how the year will goThe Stock Trader’s Almanac shows that the market rose 14 out of the last 18 post-presidential election years. Read more at: https://www.cnbc.com/2025/01/08/this-january-indicator-is-an-early-warning-system-for-how-the-year-will-go.html |
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Biden Confirms He’s Considering Preemptive PardonsPresident Joe Biden in a Jan. 5 interview confirmed that he is considering whether to issue preemptive pardons. White House officials have said that Biden plans to issue additional pardons and commutations before his term ends.
Preemptive pardons would differ from those Biden has already issued and those issued by other presidents in their final days in office. They would protect people from prosecution for charges that have not yet been brought, reports Zachary Stieber at The Epoch Times. “Some of your supporters have encouraged you to issue preemptive pardons to people like Liz Cheney and Anthony Fauci … will you do that?” USA TODAY’s Susan Page asked Biden during the interview. The individuals suggested have drawn criticism from President-elect Donald Trump, who is … Read more at: https://www.zerohedge.com/political/biden-confirms-hes-considering-preemptive-pardons |
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What Is The Economic Value Of Greenland And Why Does Trump Want It So Badly?Authored by Michael Snyder via TheMostImportantNews.com, All of a sudden, everyone is talking about Greenland. Normally, Greenland is a place that is largely ignored by the rest of the world, but apparently Donald Trump is very serious about acquiring it. But what would that look like? If Greenland is made the 51st state, it would have as many U.S. Senators as the state of California. That could have very serious implications for the balance of power in Congress. And how would Greenland vote in U.S. presidential elections? Has anyone even considered that? Of course Greenland could become just another U.S. territory, but why would the citizens of Greenland want to become the next Puerto Rico? That certainly doesn’t sound very appealing. And why is Trump making such a big deal out of this anyway? Approximately 56,000 people live in Greenland, and 80 percent of it is covered in ice. Read more at: https://www.zerohedge.com/geopolitical/what-economic-value-greenland-and-why-does-trump-want-it-so-badly |
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People Are Catching On To The TruthAuthored by Chris Martenson via PeakProsperity.com, Is Biden Trying To Destroy The US’s Energy Future? Energy is THE master resource. Have that and everything is possible. Without it, nothing is possible. The level of sheer petulance on display by the Biden administration on their way our to door is staggering. They’ve tried and failed, thankfully, to kick of WW III by lobbing long-range missiles into Russia. They treated the Western North Carolina hurricane victims so horribly, and continue to do so, that it’s a miracle that hasn’t erupted into violence. They ran an extremely poorly conducted drones-over-Jersey PsyOp. Then Biden pardoned some of the worst possible people on the planet, including a judge that shanghaied kids into a prison-for-profit program for infuriatingly stingy kickbacks given the fact that some of the kids committed suicide as a result, and lives were derailed and ruined in all cases. The two terror incidents were immediately utilized as weapons-grade PsyOps by who knows which over-funded “intelligence” agencies to distract and divide and divert civilian attention while they dialed-for-dollars in a new political landscape where their relevance may have suddenly come into question. But all of that pales in comparison to the truly stunning attempts by the Biden administration (which we still have no idea who or what we’re really speaking of when we type that out) to hamstring American’s access to affordable, reliable energy and efficient equipment. The headlines … Read more at: https://www.zerohedge.com/political/people-are-catching-truth |
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FOMC Minutes Show ‘Almost All’ Fed Members See Higher Inflation Risks, Cite Trump PoliciesFed officials are worried about the inflation impacts from Trump’s policies: Minutes So the Fed is not reactive (even when inflation is biting it in the ass), but is PROACTIVELY hostile toward the policy of a president it disagrees with even if said policy doesn’t even exist? * * * Since The Fed’s last meeting (Dec 18th) where they issued a ‘hawkish cut’, bonds and stocks have been dumped while crude and gold have strengthened along with the dollar…
Source: Bloomberg More notably, rate-cut expectations have oscillated all over the place but are back near the spike lows from FOMC day (implying a 50-50 chance of 1 or 2 cuts this year)… Read more at: https://www.zerohedge.com/markets/fomc-minutes-9 |
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Pound falls as borrowing costs rise to highest since 2008Economists have warned the rise could ultimately mean further tax rises or cuts to spending plans. Read more at: https://www.bbc.com/news/articles/c1404j3xmxdo |
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Ryanair sues ‘unruly’ passenger that diverted flightAirline is recouping costs of €15,000 in damages over ‘inexcusable’ behaviour it says forced the plane to divert to Portugal. Read more at: https://www.bbc.com/news/articles/c1kekvzdvw9o |
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Rolls-Royce expands to build bespoke cars for super-richThe luxury carmaker will almost double the size of its factory to build more one-offs. Read more at: https://www.bbc.com/news/articles/c205qlex5w3o |
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Mahi Madhusudan Kela, Authum Investment offer to buy Prataap Snacks 26% stake at Rs 865.66 per sharePrataap Snacks has received an open offer from Authum Investment & Infrastructure and Mahi Madhusudan Kela to acquire 26.01% equity at ₹865.66 per share, totaling 62.98 lakh shares. Read more at: https://economictimes.indiatimes.com/markets/stocks/news/mahi-madhusudan-kela-authum-investment-offer-to-buy-prataap-snacks-26-stake-at-rs-865-66-per-share/articleshow/117060557.cms |
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Former Chief Investment Officer, his sister settle front-running case by paying Rs 91 lakh. Details hereA former CIO and his sister settled a Sebi front-running case by paying ₹91 lakh and accepting a six-month market ban. Sebi’s probe uncovered ₹27.77 lakh unlawful gains from front-running trades worth ₹42.36 crore. Read more at: https://economictimes.indiatimes.com/markets/stocks/news/former-chief-investment-officer-his-sister-settle-front-running-case-by-paying-rs-91-lakh-details-here/articleshow/117059428.cms |
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Tech View: Nifty forms hammer candle; rebound from 23,500 offers hope. How to trade on ThursdayThe Nifty’s short-term trend remains weak, but a smart recovery near 23,500 levels suggests a potential upside bounce. A sustained move above 23,800 levels could confirm this recovery. Immediate support is seen at 23,496 levels, according to Nagaraj Shetti of HDFC Securities, indicating possible market strength if the resistance is surpassed. Read more at: https://economictimes.indiatimes.com/markets/stocks/news/tech-view-nifty-forms-hammer-candle-rebound-from-23500-offers-hope-how-to-trade-on-thursday/articleshow/117057156.cms |
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‘I’ve never been happier’: I married a wonderful lady from Ukraine. I have two successful kids. Do I put my wife on the deed to my home?“We are now looking to downsize and move to another home and I’m wondering if we should put the new property in joint names.” Read more at: https://www.marketwatch.com/story/ive-never-been-happier-i-married-a-wonderful-lady-from-ukraine-i-have-two-successful-kids-do-i-put-my-wife-on-the-deed-to-my-home-3b5d8422?mod=mw_rss_topstories |
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Most Fed officials were worried about higher inflation, but not enough to put rate hikes on the table, minutes of December meeting show“Almost all” Fed officials judged that the upside risks to inflation had increased, according to minutes of the Fed’s December meeting released Wednesday. Read more at: https://www.marketwatch.com/story/most-fed-officials-were-worried-about-higher-inflation-but-not-enough-to-put-rate-hikes-on-the-table-minutes-of-december-meeting-show-612af120?mod=mw_rss_topstories |
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Medical debt may not hurt your credit score, a new rule says. What happens if you don’t pay the bill?Unpaid medical debt will no longer affect credit scores, according to a new rule from Biden administration regulators who want to mitigate the financial repercussions of those bills. Read more at: https://www.marketwatch.com/story/medical-debt-may-not-hurt-your-credit-score-a-new-rule-says-what-happens-if-you-dont-pay-the-bill-6089701d?mod=mw_rss_topstories |
