Summary Of the Markets Today:

• The Dow closed up 26 points or 0.07%,
• Nasdaq closed down 1.63%,
• S&P 500 closed down 0.57%,
• Gold $2068 down $4.20,
• WTI crude oil settled at $70 down $1.20,
• 10-year U.S. Treasury 3.931% up 0.071 points,
• USD index $102.23 up $0.89,
• Bitcoin $44,846 up $1,473 (2.69%),

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

Click here to read our current Economic Forecast – January 2024 Economic Forecast: Our Index Turns Slightly Negative

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

Construction spending during November 2023  is 11.3% above November 2022 (10.8% inflation-adjusted). Construction continues to be one of the strongest sectors in the economy.

• Central Asia’s Delicate Dance Around Russian Sanctions
• Germany Boasts Record Renewable Capacity Additions in 2023
• Russia’s Pipeline Gas Exports to Europe Plunge by 56% in 2023
• The Rise of Tesla: Model 3 and Y Dominate Global EV Sales
• U.S. Gasoline Prices Begin Falling Again
• Record Declines in Grain Prices May Ease Global Food Crisis
• China Reinstates Coal Tariffs, Impacting Global Suppliers
• S&P 500 closes lower to begin 2024, Nasdaq notches worst day since October: Live updates
• Bitcoin soars to kick off 2024, topping $45,000 for first time since April 2022: CNBC Crypto World
• BYD beats Tesla for a second straight year after producing more than 3 million cars in 2023
• Dow flat, Nasdaq ends lower to start 2024, with jobs report ahead this week
• Treasury yields end with biggest one-day jump in almost a month

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Summary Of the Markets Today:

• The Dow closed down 21 points or 0.05%,
• Nasdaq closed down 0.56%,
• S&P 500 closed down 0.28%,
• Gold $2073 down $10.40,
• WTI crude oil settled at $71 down $0.39,
• 10-year U.S. Treasury 3.866% up 0.016 points,
• USD index $101.36 up $0.13,
• Bitcoin $42,051 down $535,
• Baker Hughes rig count up 2 to 622

Click here to read our current Economic Forecast – January 2024 Economic Forecast: Our Index Turns Slightly Negative

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

• Africa Becomes a Focal Point in Russia’s Global Strategy
• Brent Closes The Year Below $80 as Red Sea Tensions Ease
• Reuters Claims OPEC Facing Significant Market Share Loss
• Oil Prices Projected to Remain Below $80 in 2024
• From FedEx to airlines, companies are starting to lose their pricing power
• SpaceX sets new rocket record with 96 successful launches in 2023
• Drugmakers set to raise U.S. prices on at least 500 drugs in January
• COVID Mask Mandates Return Across US Hospitals

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Summary Of the Markets Today:

• The Dow closed up 54 points or 0.14%,
• Nasdaq closed down 0.03%,
• S&P 500 closed up 0.04%,
• Gold $2,077 down $16.50,
• WTI crude oil settled at $72 down $2.20,
• 10-year U.S. Treasury 3.844% up 0.055 points,
• USD Index $101.24 up $0.25,
• Bitcoin $42,521 down $977 ( 2.25% )

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

Click here to read our current Economic Forecast – December 2023 Economic Forecast: Economy Is Likely To Decelerate

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

The Pending Home Sales Index – a forward-looking indicator of home sales based on contract signings –year over year, pending transactions were down 5.2% – an improvement from last month’s -8.2%.. Lawrence Yun, NAR chief economist stated:

Although declining mortgage rates did not induce more homebuyers to submit formal contracts in November, it has sparked a surge in interest, as evidenced by a higher number of lockbox openings.

In the week ending December 23, the advance figure for seasonally adjusted initial unemployment claims 4-week moving average was 212,000, a decrease of 250 from the previous week’s revised average. The previous week’s average was revised up by 250 from 212,000 to 212,250.

• GasBuddy: Gasoline and Diesel Prices To Fall In 2024
• Record Global Gasoline Consumption Defies IEA Forecast
• Aerospace Industry Eyes Full Recovery by 2025
• Cheap Imports Threaten India’s Steel Sector
• Houthi Attacks Fail to Stop Middle East’s Pricing Problem
• S&P 500 closes little changed Thursday, struggles to reach record: Live updates
• Startup bubble fueled by Fed’s cheap money policy finally burst in 2023
• Could a bitcoin ETF approval be a sell-the-news event? What investors are expecting on the big day
• November pending home sales were unchanged, despite a sharp drop in mortgage rates
• Boeing Urges Airlines To Inspect 737 Max After “Possible Loose Bolt” For Rudder System
• Treasury yields extend bounce after weak 7-year note auction in final full trading day of 2023

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Summary Of the Markets Today:

• The Dow closed up 111 point or 0.30%,
• Nasdaq closed up 0.16%,
• S&P 500 closed up 0.14%,
• Gold $2,089 up $19.20,
• WTI crude oil settled at $74 down $1.63,
• 10-year U.S. Treasury 3.783% down 0.103 points,
• USD Index $100.94 down $0.520,
• Bitcoin $43,498 up $1,344 ( 3.19% )

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

Click here to read our current Economic Forecast – December 2023 Economic Forecast: Economy Is Likely To Decelerate

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

• Oil Prices Shed 2% As Shippers Gamble on Red Sea
• Iron Ore Futures Hit Ten-Month High On Chinese Stimulus Efforts
• Shipping Giants Resume Suez Canal Operations Following Houthi Attacks
• Brent Holds At $80 After Red Sea Attacks
• Ether rallies 6% in catch-up trade as investors position for January
• MicroStrategy buys more bitcoin, pushing holdings to nearly $6 billion: CNBC Crypto World
• Bitcoin’s 2023 rally drove some of the stock market’s biggest gains this year
• ICE Arrests 26 Illegal Immigrants In California For Removal Over Crimes Of Sexual Abuse
• New York Times sues Microsoft and OpenAI for ‘billions’
• 10-year Treasury yield drops to lowest since July as market absorbs sale of 5-year notes

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Summary Of the Markets Today:

• The Dow closed up 159 points or 0.43%,
• Nasdaq closed up 0.54%,
• S&P 500 closed up 0.42%,
• Gold $2078 up $9.40,
• WTI crude oil settled at $75 up $1.60,
• 10-year U.S. Treasury 3.895% down 0.013 points,
• USD index $101.46 down $0.24,
• Bitcoin $42,146 down $1,404

Click here to read our current Economic Forecast – December 2023 Economic Forecast: Economy Is Likely To Decelerate

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

• Taliban’s Energy Project Threatens Pakistan’s Water Supply
• U.S. Shatters Oil Production Records in 2023
• Car Ownership is More Expensive Than Ever
• Is the ESG Investment Bubble Bursting?
• Copper Prices Waver as Global Supply Faces New Challenges
• The U.S. avoided a recession in 2023. What’s the outlook for 2024? Here’s what experts are predicting
• Blinken’s Visit To Mexico Focuses On Optics As Migration Crisis Hits Biden’s Polls
• This Year, Americans Have Become Hungrier, Lonelier And More Desperate

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Summary Of the Markets Today:

• The Dow closed down 18 points or 0.05%,
• Nasdaq closed up 0.19%,
• S&P 500 closed up 0.17%,
• Gold $2,064 up $13.10,
• WTI crude oil settled at $74 down $0.34,
• 10-year U.S. Treasury 3.901% up 0.007 points,
• USD Index $101.71 down $0.130,
• Bitcoin $43,736 down $91 ( 0.04% )

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

Click here to read our current Economic Forecast – December 2023 Economic Forecast: Economy Is Likely To Decelerate

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

New orders for manufactured durable goods in November 2023 were up 9.5% year-over-year (3.2% inflation adjusted). The surge this month in durable goods is attributable to civilian aircraft orders.

Real Disposable Personal income for November 2023 increased 4.3% year-over-year whilst real personal consumption expenditures (real PCE) increased 2.7% year-over-year. The PCE price index was 2.6% year-over-year (3.2% less food and energy) which is nearing the Federal Reserve’s 2% goal. Spending remains in a tight range which does not indicate an upcoming recession.

Sales of new single‐family houses in November 2023 declined to just 1.4% above the November 2022 level. The median sales price of new houses sold in November 2023 was $434,700. The average sales price was $488,900. The seasonally adjusted estimate of new houses for sale at the end of November was 451,000. This represents a supply of 9.2 months at the current sales rate. This was a disappointing month for home sales.

Here is a summary of headlines we are reading today:

• Russia To Cut Oil Exports From Sea Ports in January
• U.S. Clean Hydrogen Tax Credit Proposal Leaves Out Nuclear Energy
• Falling Nickel Prices Weigh Heavy on Stainless Steel Industry
• Buffett’s Berkshire Hathaway Raises Occidental Stake To 27.7%
• Oil Prices Gain Ahead Of Christmas
• S&P 500 closes higher Friday, registers longest weekly win streak since 2017: Live updates
• Fed’s favorite inflation gauge shows prices rose at 3.2% annual rate in November, less than expected
• Stocks making the biggest moves midday: Nike, Rocket Lab, Bristol Myers, NetEase and more
• Nike, Foot Locker shares sink after athletic apparel maker cuts revenue outlook
• ‘Pursuing Litigation, Not Democracy’ – Federal Judge Rejects Lawsuit To Remove Trump From Ballot
• Treasury yields end mostly higher after subdued U.S. inflation reading in holiday-shortened session

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Summary Of the Markets Today:

• The Dow closed up 322 points or 0.87%,
• Nasdaq closed up 1.26%,
• S&P 500 closed up 1.03%,
• Gold $2,056 up $8.00,
• WTI crude oil settled at $74 down $0.25,
• 10-year U.S. Treasury 3.890% up 0.013 points,
• USD Index $101.81 down $0.600,
• Bitcoin $43,776 up $264 ( 0.61% )
• Baker Hughes Rig Count: U.S. -3 to 620 Canada -39 to 146

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

Click here to read our current Economic Forecast – December 2023 Economic Forecast: Economy Is Likely To Decelerate

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

The December 2023 Philly Fed Manufacturing Business Outlook Survey continued to decline overall. The survey’s indicators for general activity and shipments remained negative. Furthermore, the index for new orders declined sharply and turned negative. The diffusion index for current general activity declined from -5.9 in November to -10.5 in December. This is the index’s 17th negative reading in the past 19 months. Manufacturing remains in a recession.

The number of CEO changes at U.S. companies surged 71% from 105 CEO exits in October to 180 in November 2023. This marks an 89% increase from the 95 CEOs who left their posts in the same month last year, according to a report released Thursday by global outplacement and business and executive coaching firm Challenger, Gray & Christmas, Inc. November’s total is the highest monthly total since 197 CEOs left their posts in July.

The third estimate of 3Q2023 real gross domestic product (GDP) increased at an annual rate of 4.9% (2.9% year-over-year). This is the same as the advance estimate and is down from the second estimate of 5.2%. In the second quarter, real GDP increased 2.1 percent. The third estimate primarily reflected a downward revision to consumer spending. Imports, a subtraction in the calculation of GDP, were revised down.

The Kansas City Fed’smanufacturing activity was flat in December 2023. The month-over-month composite index was -1 in December, up slightly from -2 in November and -8 in October. The composite index is an average of the production, new orders, employment, supplier delivery time, and raw materials inventory indexes.

In the week ending December 16, the advance figure for seasonally adjusted initial unemployment claims 4-week moving average was 212,000, a decrease of 1,500 from the previous week’s revised average. The previous week’s average was revised up by 250 from 213,250 to 213,500.

Here is a summary of headlines we are reading today:

• Oil and Gas Prices Hold Steady Despite Red Sea Turmoil
• Beijing Clamps Down on Critical Rare-Earth Processing Technology
• Audi, Porsche, and VW Embrace Tesla’s Charging Standard for 2025 EVs
• OPEC Influence Wavers as U.S. Shale Roars Back
• Dow closes higher by more than 300 points, S&P 500 rebounds from worst day since September: Live updates
• Container rates hit $10,000 as ocean freight inflation soars in Red Sea crisis
• Boeing hands over first 787 Dreamliner to China since 2019
• Smash-And-Grab Gang Loots Chanel Store Blocks From White House
• Job market is softening and bankruptcies are rising, Paychex CEO says

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Summary Of the Markets Today:

• The Dow closed down 476 points or 1.27%,
• Nasdaq closed down 1.50%,
• S&P 500 closed down 1.47%,
• Gold $2,045 down $7.40,
• WTI crude oil settled at $74 down $0.14,
• 10-year U.S. Treasury 3.851% down 0.071 points,
• USD Index $102.49 up $0.330,
• Bitcoin $43,520 up $1,2970 ( 3.02% )

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

Click here to read our current Economic Forecast – December 2023 Economic Forecast: Economy Is Likely To Decelerate

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

Here is a summary of headlines we are reading today:

• Will the COP28 Consensus Keep Fossil Fuels in the Ground?
• 5 Million Barrels of Russian Oil Stuck En Route to India
• Sodium-Ion: A Game-Changer in the Global Battery Market
• Brent Breaks Past $80 Barrier As Houthis Attack Red Sea
• Putin Orders Asset Seizures From Austrian and German Energy Giants
• Putin Seizes Multi-Billion-Dollar OMV and Wintershall Stakes in Russian Ventures
• Dow closes more than 470 points lower Wednesday to snap 9-day win streak: Live updates
• Billions are on the line for lenders as White House finalizes credit card late fee cap
• Bitcoin bounces back above $43,000: CNBC Crypto World
• Most Large Container Ships Abandon Red Sea As Key Trade Route Freezes
• Dow Jones ends 475 points lower after 9-day winning streak

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Summary Of the Markets Today:

• The Dow closed up 252 points or 0.68%,
• Nasdaq closed up 0.66%,
• S&P 500 closed up 0.59%,
• Gold $2,054 up $13.10,
• WTI crude oil settled at $74 up $1.11,
• 10-year U.S. Treasury 3.931% down 0.025 points,
• USD Index $102.15 down $0.410,
• Bitcoin $42,251 up $160 ( 0.38% )

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

Click here to read our current Economic Forecast – December 2023 Economic Forecast: Economy Is Likely To Decelerate

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

Here is a summary of headlines we are reading today:

• EU Extends Emergency Natural Gas Price Cap Through January 2025
• U.S. Natural Gas Prices Continue to Slide
• Surging Steel Prices Defy Manufacturing Slowdown
• Germany Signs $55 Billion Natural Gas Deal with Equinor
• Norwegian Energy Giant Signs 50 Billion Euro Natural Gas Deal With Germany
• Dow jumps more than 200 points for ninth winning day, S&P 500 nears record: Live updates
• Southwest Airlines, pilots’ union reach preliminary labor deal after years of contentious talks
• Affirm stock pops more than 15% on expanded Walmart partnership
• GPT and other AI models can’t analyze an SEC filing, researchers find
• Peter Schiff: Bidenomics Is Putting Lipstick On A Pig
• Dow climbs to 5th straight record close, as rate-cut hopes underpin sentiment
• 10-year Treasury yield returns to lowest level since July after Bank of Japan keeps rates negative

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Summary Of the Markets Today:

• The Dow closed up 1 point or 0.00%,
• Nasdaq closed up 0.61%,
• S&P 500 closed up 0.45%,
• Gold $2,041 up $4.90,
• WTI crude oil settled at $73 up $1.17,
• 10-year U.S. Treasury 3.946% up 0.018 points,
• USD Index $102.54 down $0.010,
• Bitcoin $41,941 down $136 ( 0.32% )

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

Click here to read our current Economic Forecast – December 2023 Economic Forecast: Economy Is Likely To Decelerate

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

Here is a summary of headlines we are reading today:

• U.S. Nuclear Sector Set for Major Transformation
• Christmas 2023 Gas Prices Head to $2.99 for First Time in Years
• Renewables Top 50% Share of Germany’s Power Demand for The First Time
• Swiss National Bank Urged To Exit Investments in Fracking
• Major Shipping Firms Halt Red Sea Routes Following Houthi Attacks
• Nikola founder Trevor Milton sentenced to four years in prison for fraud
• S&P 500 closes higher, Nasdaq jumps for eighth day as both indexes add to 7-week advance: Live updates
• Fed’s Goolsbee says he was ‘confused’ by last week’s market reaction
• FTX files revised proposal to end bankruptcy and return billions to creditors: CNBC Crypto World
• Central Banks Brought Excessive Inflation; Now They Bring Stagnation…
• Southwest Airlines’ holiday meltdown: Will customers get any money from the $140 million settlement?

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