Summary Of the Markets Today:

• The Dow closed down 241 points or 0.60%,
• Nasdaq closed up 0.11%,
• S&P 500 closed down 0.20%,
• Gold $2,262 up $23.80,
• WTI crude oil settled at $84 up $0.75,
• 10-year U.S. Treasury 4.321% up 0.127 points,
• USD index $104.98 up $0.430,
• Bitcoin $69,680 down $1,245   (1.72%)

*Stock data, cryptocurrency, and commodity prices at the market closing.

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Click here to read our current Economic Forecast – March 2024 Economic Forecast: A Modest Improvement In Our Index Predicting Little Change In Main Street Growth

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Today’s Economic Releases Compiled by Steven Hansen, Publisher:

Construction spending during February 2024 was 10.7% above February 2023. Construction has been one of the bright spots in the economy.

The ISM Manufacturing PMI^® registered 50.3 percent in March, up 2.5 percentage points from the 47.8 percent recorded in February.  This is the first time in over 18 months that manufacturing has been in positive territory. Could it be that the manufacturing recession is over? Timothy R. Fiore, CPSM, C.P.M., Chair of the Institute for Supply Management^® (ISM^®) Manufacturing Business Survey Committee stated:

The Supplier Deliveries Index figure of 49.9 percent is 0.2 percentage point lower than the 50.1 percent recorded in February. (Supplier Deliveries is the only ISM^® Report On Business^® index that is inversed; a reading of above 50 percent indicates slower deliveries, which is typical as the economy improves and customer demand increases.) The Inventories Index increased 2.9 percentage points to 48.2 percent following a reading of 45.3 percent in February. The New Export Orders Index reading of 51.6 percent is the same reading as registered in February. The Imports Index continued in expansion territory, registering 53 percent, the same figure as in February. Both indexes repeated their highest readings since July 2022, when the New Export Orders Index registered 52.6 percent and the Imports Index registered 54.4 percent.

Here is a summary of headlines we are reading today:

• Permian Oil Producers Eye Next-Gen Nuclear to Cleaner Drilling
• Oil Prices Up as Iranian Embassy in Syria Leveled in Airstrike
• Argentina Discusses Natural Gas Exports to Brazil via Bolivia
• The U.S. Was the World’s Top LNG Exporter in 2023
• Dow closes more than 200 points lower to begin April as Treasury yields pop: Live updates
• Railroad CSX adding new freight route on Tuesday to avoid Port of Baltimore after bridge collapse
• Bitcoin drops below $70,000 to kick off April: CNBC Crypto World
• Amazon is trying to get rid of its signature brown boxes. The retail shipping giant has a long way to go
• Gold prices are at an all-time high—but experts like Warren Buffett don’t always recommend investing
• Fears over persistent inflation resurface in U.S. Treasury market, ushering in volatility
• Treasury yields post biggest one-day leap in over a month as traders react to latest U.S. data

Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.

Summary Of the Markets Today:

• Gold $2,255 up $42.10,
• WTI crude oil settled at $83 up $1.76,
• 10-year U.S. Treasury 4.206% up 0.010 points,
• USD index $104.52 down $0.030,
• Bitcoin $69,676 up $1,135 (1.61%)

*Stock data, cryptocurrency, and commodity prices at the market closing.

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Click here to read our current Economic Forecast – March 2024 Economic Forecast: A Modest Improvement In Our Index Predicting Little Change In Main Street Growth

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Today’s Economic Releases Compiled by Steven Hansen, Publisher:

The number of CEO changes at U.S. companies surged to 248 in February, up 28% from the 194 CEO exits recorded in January. It is a 49% increase from the 167 CEO exits that occurred in the same month one year prior. February’s total is the highest monthly total on record. The previous record was set in January 2020, when 219 CEOs left their posts. Andrew Challenger, Senior Vice President of Challenger, Gray & Christmas, Inc. stated:

This suggests CEOs who took the position temporarily in 2019 extended their tenures due to the pandemic, and are deciding to leave their posts now.

Disposable personal income (DPI), personal income less personal current taxes, increased 1.7% year-over-year in February 2024- down from 2.1% in January. Personal consumption expenditures (PCE) increased 2.4% year-over-year – up from 2.o% in January. The PCE price index was little changed at 2.5% year-over-year –  excluding food and energy, the PCE price index also was little changed at 2.8%. The bottom line is that inflation is no longer subsiding.

 

Here is a summary of headlines we are reading today:

• Chinese Solar Companies Skimp on Quality As Price War Escalates
• South Sudan’s Oil Revenues Plunge as Ruptured Pipeline Stalls Exports
• U.S. Drilling Activity Slips Again
• Fisker Slashes Prices of Its Ocean SUV by 39%
• Indonesia to Quadruple Battery-Grade Nickel Output by 2030
• Key Fed inflation gauge rose 2.8% annually in February, as expected
• Tesla’s awful quarter has Wall Street on edge ahead of delivery numbers
• Russia launches barrage of 99 drones and missiles on Ukraine’s energy system, officials say
• Investors are focused ‘overwhelmingly’ on bitcoin over other cryptocurrencies, BlackRock says
• The Meltdown Of Commercial Real Estate
• Tupperware sounds another warning for investors with more filing delays

Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.

Summary Of the Markets Today:

• The Dow closed up 47 points or 0.12%,
• Nasdaq closed down 0.12%,
• S&P 500 closed up 0.11%, ( New high 5,265)
• Gold $2,241 up $28.30,
• WTI crude oil settled at $83 up $1.62,
• 10-year U.S. Treasury 4.206% up 0.010 points,
• USD index $104.54 up $0.190,
• Bitcoin $70,903 up $2,265 (3.27%), – Historic high 73,798.25
• Baker Hughes Rig Count: U.S. -3 to 621 Canada -18 to 151

*Stock data, cryptocurrency, and commodity prices at the market closing.

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Click here to read our current Economic Forecast – March 2024 Economic Forecast: A Modest Improvement In Our Index Predicting Little Change In Main Street Growth

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Today’s Economic Releases Compiled by Steven Hansen, Publisher:

The third estimate of 4Q2023 Real gross domestic product (GDP) increased 3.1% year-over-year – up from the third quarter real GDP of 2.9% year-over-year. The GDP implicit price deflator (inflation seen withing GDP) improved from 3.2% to 2.6% year-over-year.

In the week ending March 23, the advance figure for seasonally adjusted initial unemployment claims 4-week moving average was 211,000, a decrease of 750 from the previous week’s revised average. The previous week’s average was revised up by 500 from 211,250 to 211,750.

The Chicago Business Barometer^™ declined 2.6 points to 41.4 in March.  This is the fourth consecutive monthly decrease, pushing the index further into contractionary territory, and marking the lowest print since May 2023.  We also note that this print is 4 points below the 2023 average. The Chicago PMI is used by pundits as an early indicator of the national PMI. There is little question that manufacturing is in a recession in the U.S.

The Pending Home Sales Index (PHSI)* – a forward-looking indicator of home sales based on contract signings – increased to 75.6 in February. Year over year, pending transactions were down 7.0%. An index of 100 is equal to the level of contract activity in 2001. NAR Chief Economist Lawrence Yun stated:

While modest sales growth might not stir excitement, it shows slow and steady progress from the lows of late last year. Ongoing job gains are clearly increasing demand along with more inventory.

Here is a summary of headlines we are reading today:

• Gold Recycling Goes Green with Biodiesel Innovation
• Citigroup Says 42% of Clients Have No Energy Transition Plan
• Russian Warships Enter The Red Sea amid Houthi Attacks
• Over 20% of the World’s Oil Refining Capacity Is at Risk of Closure
• FTX founder Sam Bankman-Fried sentenced to 25 years for crypto fraud, to pay $11 billion in forfeiture
• S&P 500 closes at a fresh record, posts strongest first quarter performance since 2019: Live updates
• The wealth of the 1% just hit a record $44 trillion
• Appeals Court Extends Block On Texas Arrests Of Illegal Immigrants
• The S&P 500 and Wall Street’s ‘fear gauge’ are both up in 2024. Should investors be worried?
• Oil ends higher, with U.S. prices up 16% for the quarter

Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.

Summary Of the Markets Today:

• The Dow closed up 478 points or 1.22%,
• Nasdaq closed up 0.51%,
• S&P 500 closed up 0.86%,
• Gold $2,212 up $13.20,
• WTI crude oil settled at $82 up $0.07,
• 10-year U.S. Treasury 4.190% down 0.044 points,
• USD index $104.30 up $0.010,
• Bitcoin $68,641 down $1,000 (0.10%),

*Stock data, cryptocurrency, and commodity prices at the market closing.

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Click here to read our current Economic Forecast – March 2024 Economic Forecast: A Modest Improvement In Our Index Predicting Little Change In Main Street Growth

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Today’s Economic Releases Compiled by Steven Hansen, Publisher:

When asked between February 20 and March 8 to rate optimism about the overall U.S. economy on a scale from 0 to 100, the average rating from CFOs was 60.6, up from 58.1 in the fourth quarter. Optimism about their own firm’s prospects remained higher than economic optimism, at an average of 68.5, up from 67.5 in the fourth quarter.

Here is a summary of headlines we are reading today:

• Western Wind Turbine Manufacturers Struggle to Compete with Chinese Pricing
• Investigators To Examine Whether Dirty Fuel Caused Baltimore Bridge Crash
• Nickel Prices Expected to Drop Further in 2024
• Nissan Unveils New Strategy to Combat Influx of Competitive Chinese EVs
• Baltimore Coal Exports Blocked After Bridge Collapse
• Pump Prices Set to Hit $4 a Gallon
• Dow surges more than 450 points, S&P 500 closes at a fresh record: Live updates
• Amazon spends $2.75 billion on AI startup Anthropic in its largest venture investment yet
• Ron Insana’s new firm aims to bring AI-powered trade ideas to individual investors
• AMC’s stock on pace for biggest gain in a month

Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.

Summary Of the Markets Today:

• The Dow closed down 31 points or 0.08%,
• Nasdaq closed down 0.42%,
• S&P 500 closed down 0.28%,
• Gold $2,200 up $1.70,
• WTI crude oil settled at $82 down $0.43,
• 10-year U.S. Treasury 4.232% down 0.021 points,
• USD index $104.33 down $0.150,
• Bitcoin $69,889 down $966 (1.33%), – Historic high 73,798.25

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Click here to read our current Economic Forecast – March 2024 Economic Forecast: A Modest Improvement In Our Index Predicting Little Change In Main Street Growth

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Today’s Economic Releases Compiled by Steven Hansen, Publisher:

New orders for manufactured durable goods in February 2024 improved and is up 2.6% year-over-year – but is down 1.6% year-over-year inflation-adjusted. Negative growth in durable goods is not a sign of a growing economy.

The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index 20-City Composite posted a year-over-year increase of 6.6% in January 2024, up from a 6.2% increase in the previous month. Brian D. Luke, Head of Commodities, Real & Digital Assets at S&P Dow Jones Indices stated:

We’ve commented on how consistent each market performed during 2023 and that continues to be the case. While there is a large disparity between leaders such as San Diego versus laggards such as with Portland, the broad market performance is tightly bunched up. This is also true of high and low tiers. The average annual gains between high and low tiers across cities tracked by the indices is just 1.1%. Low price tiered indices have outperformed high priced indices for 17 months. Homeowners most likely saw healthy gains in the last year, no matter what city you were in, or if it was in an expensive or inexpensive neighborhood. No matter which way you slice it, the index performance closely resembled the broad market.

The Richmond Fed manufacturing activity slowed in March 2024. The composite manufacturing index decreased from −5 in February to −11. Of its three component indexes, shipments remained solidly negative at −14, new orders fell from −5 to −17, and employment fell from 7 to 0. Manufacturing remains in a recession in the U.S.

The Conference Board Consumer Confidence Index® was 104.7 (1985=100) in March, essentially unchanged from a downwardly revised 104.8 in February. Dana M. Peterson, Chief Economist at The Conference Board added:

Consumers’ assessment of the present situation improved in March, but they also became more pessimistic about the future. Confidence rose among consumers aged 55 and over but deteriorated for those under 55. Separately, consumers in the $50,000-$99,999 income group reported lower confidence in March, while confidence improved slightly in all other income groups. However, over the last six months, confidence has been moving sideways with no real trend to the upside or downside either by income or age group.

 

Here is a summary of headlines we are reading today:

• South Africa Won’t Ditch Coal Anytime Soon
• OPEC: Oil Industry Needs $11 Trillion in Upstream Investment by 2045
• Subsidy Investigation Sent China’s EV Exports to the EU Plunging by 20%
• Bullish Sentiment Brings $90 Oil Within Reach
• Logistics companies scramble after bridge collapse closes Port of Baltimore until further notice
• S&P 500 closes lower for a third straight session as market rally cools: Live updates
• Stocks trade near records, but chances are your portfolio isn’t sufficiently protected from a fall
• Bitcoin maintains $70,000, and KuCoin charged with anti-money laundering violations: CNBC Crypto World
• Tesla Cooperates With CATL On Faster-Charging Battery Technology
• Donald Trump media firm soars in stock market debut
• Treasury yields hold steady as traders eye February inflation data at end of week

Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.

Summary Of the Markets Today:

• The Dow closed down 162 points or 0.41%,
• Nasdaq closed down 0.27%,
• S&P 500 closed down 0.31%,
• Gold $2172 down $56,
• WTI crude oil settled at $82 up $1.38,
• 10-year U.S. Treasury 4.249% up 0.031 points,
• USD index $104.22 up $0.22,
• Bitcoin $70,366 up $3,131

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Click here to read our current Economic Forecast – March 2024 Economic Forecast: A Modest Improvement In Our Index Predicting Little Change In Main Street Growth

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Today’s Economic Releases Compiled by Steven Hansen, Publisher:

The Chicago Fed National Activity Index (CFNAI) three-month moving average, CFNAI-MA3, decreased to –0.18 in February from –0.11 in January. Economic expansion has historically been associated with a CFNAI-MA3 value above –0.70 and a significant likelihood of an expansion has historically been associated with a CFNAI-MA3 value above +0.20. The CFNAI is my favorite coincident index. The bottom line here is that the economy is expanding, but is expanding  below the historical average for periods of expansion.

Sales of new single‐family houses in February 2024 were up 5.9% above February 2023. The median sales price of new houses sold in February 2024 was $400,500 – which is 7.6% lower than the price one year ago. The average sales price was $485,000. The seasonally‐adjusted estimate of new houses for sale at the end of February was 463,000. This represents a supply of 8.4 months at the current sales rate. New home sales remains a bright spot in the economy.

Texas Manufacturing Outlook Survey activity weakened in March after stabilizing in February. The production index, a key measure of state manufacturing conditions, fell five points to -4.1, a reading that suggests a slight decline in output month over month. Manufacturing remains in a recession in the U.S.

Here is a summary of headlines we are reading today:

• Decentralized Renewable Energy Helps Ukraine Weather Russian Attacks
• Chip War Escalates as China Bans Intel, AMD Chips in Government Computers
• Russian Refinery Halts Half Its Capacity Following a Ukrainian Drone Attack
• Truth Social owner Trump Media will begin trading under DJT ticker Tuesday
• Boeing CEO to step down in broad management shake-up as 737 Max crisis weighs on aerospace giant
• Our Economy And Politics Are Broken
• Why Is The National Guard Being Deployed During The Great American Eclipse On April 8th?
• EV maker Lucid rallies after $1 billion investment by majority stockholder as it burns cash

Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.

Summary Of the Markets Today:

• The Dow closed down 305 points or 0.77%,
• Nasdaq closed up 0.16%,
• S&P 500 closed down 0.14%,
• Gold $2164 down $19.70,
• WTI crude oil settled at $81 down $0.25,
• 10-year U.S. Treasury 4.210% down 0.061 points,
• USD index $104.45 up $1.03,
• Bitcoin $63,780 down $1,700.
• Baker-Hughes rig count down 5 to 624

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Click here to read our current Economic Forecast – March 2024 Economic Forecast: A Modest Improvement In Our Index Predicting Little Change In Main Street Growth

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Today’s Economic Releases Compiled by Steven Hansen, Publisher:

U.S. single-family rents posted a 2.6% annual gain in January 2024 according to CoreLogic’s monthly Single-Family Rent Index (SFRI), with Urban Honolulu taking the top sport for growth. However, despite January’s relatively moderate growth in rental costs, prices across the nation are up by almost 30% since early 2020. Molly Boesel, principal economist for CoreLogic stated:

While annual U.S. single-family rent growth was a moderate 2.6% in January, that increase built on years of above-trend annual gains. Furthermore, while rent growth is slowing, costs are still increasing across most of the country. The median rent on a three-bedroom property increased by over $100 in the past year and by more than $500 in the past three years.

Here is a summary of headlines we are reading today:

• U.S. Has Urged Ukraine To Stop Attacks on Russian Refineries
• Russian Diesel in Floating Storage Hits Highest Level Since 2017
• China Buys Up Russian Oil
• Will Waning Gasoline Demand Drag Oil Prices Down?
• Explaining the Market’s Reaction to Jerome Powell’s Speech
• Oil Industry Executives Say Oil Demand Is Beating Forecasts
• All Indian Refiners Now Reject Russian Crude Shipped by Sovcomflot Tankers
• Why a small China-made EV has global auto execs and politicians on edge
• “We Have Reached A Bottom”: Uranium Poised To Jump Again After 3 Month Correction
• Trump poised for billions as stock market deal passes

Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.

Summary Of the Markets Today:

• The Dow closed up 269 points or 0.68%,
• Nasdaq closed up 0.20%,
• S&P 500 closed up 0.32%,
• Gold $2192 up $21.80,
• WTI crude oil settled at $81 down $0.24,
• 10-year U.S. Treasury 4.271% down 0.001 points,
• USD index $104.04 up $0.20,
• Bitcoin $65,220 down $2,633

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Click here to read our current Economic Forecast – March 2024 Economic Forecast: A Modest Improvement In Our Index Predicting Little Change In Main Street Growth

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Today’s Economic Releases Compiled by Steven Hansen, Publisher:

The Philly Fed Manufacturing Business Outlook Survey edged down 2 points to 3.2 in March 2024. This is only the index’s fifth positive reading since May 2022. Nearly 24 percent of the firms reported increases in general activity this month, while 21 percent reported decreases; 52 percent reported no change. The index for new orders turned positive for the first time since October, rising from -5.2 in February to 5.4 in March. Historically, this index is an outlier versus other regional fed surveys in that its results are usually higher. I continue to state that manufacturing in the US remains in a recession.

In the week ending March 16, the advance figure for seasonally adjusted initial unemployment claims 4-week moving average was 211,250, an increase of 2,500 from the previous week’s revised average. The previous week’s average was revised up by 750 from 208,000 to 208,750.

Total existing-home sales slid 3.3% year-over-year. The median existing-home price for all housing types in February was $384,500, an increase of 5.7% from the prior year ($363,600). NAR Chief Economist Lawrence Yun stated:

Additional housing supply is helping to satisfy market demand. Housing demand has been on a steady rise due to population and job growth, though the actual timing of purchases will be determined by prevailing mortgage rates and wider inventory choices.

The Conference Board Leading Economic Index® (LEI) for the U.S. increased by 0.1 percent in February 2024 to 102.8 (2016=100), following a 0.4 percent decline in January. At least the Conference Board is no longer forecasting a recession. Justyna Zabinska-La Monica, Senior Manager, Business Cycle Indicators, at The Conference Board stated:

The U.S. LEI rose in February 2024 for the first time since February 2022. Strength in weekly hours worked in manufacturing, stock prices, the Leading Credit Index™, and residential construction drove the LEI’s first monthly increase in two years. However, consumers’ expectations and the ISM® Index of New Orders have yet to recover, and the six- and twelve-month growth rates of the LEI remain negative. Despite February’s increase, the Index still suggests some headwinds to growth going forward. The Conference Board expects annualized US GDP growth to slow over the Q2 to Q3 2024 period, as rising consumer debt and elevated interest rates weigh on consumer spending.

Here is a summary of headlines we are reading today:

• Tokyo Tech Scientists Crack Hydrogen Storage Conundrum
• Taxpayer Money Funds EV Infrastructure Push Despite Slow Adoption
• Restored Import Tax Hits Russian Coal Sales to China
• EPA’s New Car Emission Standards Doom the Gasoline Car
• IEA Chief: No Chance of Hitting Climate Goals Without Nuclear Power
• European Power Giant Bets on U.S. Despite Possible Trump Presidency
• Republican Lawmakers Blame IEA for Straying From Energy Security Mission
• Auto prices are cooling, but ‘we’re never going back to the old normal,’ expert says. Here’s what car shoppers can expect
• “Freedom Bonds”: US Wants $50BN Bond For Ukraine Backed By Frozen Russian Assets
• Stock market’s post-Fed rally hides some worry about officials’ commitment to 2% inflation

Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.

Summary Of the Markets Today:

• The Dow closed up 401 points or 1.03%,
• Nasdaq closed up 1.25%,
• S&P 500 closed up 0.89%,
• Gold $2186 up $26.30,
• WTI crude oil settled at $82 up $1.63,
• 10-year U.S. Treasury 4.279% down 0.018 points,
• USD index $103.42 down $0.39,
• Bitcoin $65,795 up $3,889

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Click here to read our current Economic Forecast – March 2024 Economic Forecast: A Modest Improvement In Our Index Predicting Little Change In Main Street Growth

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Today’s Economic Releases Compiled by Steven Hansen, Publisher:

The Federal Reserve’s FOMC meeting concluded today with no adjustment to the federal funds rate as inflation remains above their 2.o% target although the economy and employment are strong. The Fed Chair Powell additionally communicated they expect up to 3 rate cuts this year. Not sure any of this makes sense as by their admission the economy is expanding which historically is coincident with raising (not cutting) the federal funds rate. Additionally, there are no signs yet that inflationary pressures have subsided. In any event, the market took the potential of rate cuts with gusto driving the markets to historical highs. The text of the meeting statement:

Recent indicators suggest that economic activity has been expanding at a solid pace. Job gains have remained strong, and the unemployment rate has remained low. Inflation has eased over the past year but remains elevated.

The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run. The Committee judges that the risks to achieving its employment and inflation goals are moving into better balance. The economic outlook is uncertain, and the Committee remains highly attentive to inflation risks.

In support of its goals, the Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent. In considering any adjustments to the target range for the federal funds rate, the Committee will carefully assess incoming data, the evolving outlook, and the balance of risks. The Committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2 percent. In addition, the Committee will continue reducing its holdings of Treasury securities and agency debt and agency mortgage-backed securities, as described in its previously announced plans. The Committee is strongly committed to returning inflation to its 2 percent objective.

In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee’s goals. The Committee’s assessments will take into account a wide range of information, including readings on labor market conditions, inflation pressures and inflation expectations, and financial and international developments.

Here is a summary of headlines we are reading today:

• Saudi Aramco To Expand Natural Gas Output Capacity by 60%
• Israel’s Gas Exports to Egypt Soar Despite Political Tensions
• Chinese Fuel Oil Imports Jumped by 21% in the First Two Months of the Year
• EPA issues new auto rules aimed at cutting carbon emissions, boosting electric vehicles and hybrids
• Israel Furious After Canada Votes To Halt Arms Exports To Tel Aviv
• Only 30% Of New Yorkers Are Happy With City’s Quality Of Life, 50% Plan On Leaving Within Five Years
• Fed Chair Powell Explains Why The Dots ‘Are Not A Forecast’, But…

Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.

Summary Of the Markets Today:

• The Dow closed up 320 points or 0.83%,
• Nasdaq closed up 0.39%,
• S&P 500 closed up 0.56%,
• Gold $2161 down $3.60,
• WTI crude oil settled at $83 up $0.76,
• 10-year U.S. Treasury 4.296% down 0.044 points,
• USD index $103.82 up $0.39,
• Bitcoin $63,047 down $3,664

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Click here to read our current Economic Forecast – March 2024 Economic Forecast: A Modest Improvement In Our Index Predicting Little Change In Main Street Growth

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Today’s Economic Releases Compiled by Steven Hansen, Publisher:

Privately‐owned housing units authorized by building permits in February 2024 were 2.4% above February 2023.Privately‐owned housing starts 5.9% above February 2023. Privately‐owned housing completions were 9.6% above February 2023. New housing construction continues to be an economic bright spot.

Here is a summary of headlines we are reading today:

• Breakthrough Catalyst Turns Sewage Into Clean Energy
• Russia Promises To Defend Oil Infrastructure With Missiles
• Hot Inflation Data Raises Stakes for Tomorrow’s Fed Meeting
• Oil Gains Momentum as China’s Demand Outlook Improves
• India Buys More U.S. Oil
• Bitcoin Continues To Sink Despite Bullish Bets by Big Banks
• U.S. Aims to Restock Strategic Oil Reserves by Year-End
• Why EVs are causing a tire boom
• There Goes The Fed’s Inflation Target: Goldman Sees Terminal Rate 100bps Higher At 3.5%
• Netanyahu To Biden: “There’s No Way To Destroy Hamas Without Rafah Ground Op”

Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.