Summary Of the Markets Today:

• The Dow closed up 43 points or 0.13%,
• Nasdaq closed up 0.16%,
• S&P 500 closed up 0.11%,
• Gold $1,975 down $3.70,
• WTI crude oil settled at $70 down $1.01,
• 10-year U.S. Treasury 3.743% up 0.029 points,
• USD Index $103.33 up $0.23,
• Bitcoin $26,423 down $115,
• Baker Hughes Rig Count: U.S. -1 to 695 Canada +39 to 136

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

Click here to read our Economic Forecast for June 2023

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

None

Here is a summary of headlines we are reading today:

• Pentagon Papers Show Saudi Arabia, U.S. Traded Threats Over Oil
• U.S. Drilling Activity Continues Its Slide
• Canadian Wildfires Trigger Unprecedented Solar Energy Decline
• Smoke Causes U.S. Solar Power Generation To Plunge By 50%
• The Prospect Of Weaponizing Oil Against China
• JPMorgan bond chief Bob Michele sees worrying echoes of 2008 in market calm
• S&P 500 notches fourth straight positive week, touches highest level since August: Live updates
• Americans owe nearly $1 trillion in credit card debt—here’s the breakdown by age
• The IRS is cracking down on a popular small business tax break that could lead to a costly audit
• Market Snapshot: S&P 500 rises modestly after bear-market exit, investors look ahead to Fed meeting

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 169 points or 0.50%,
• Nasdaq closed up 1.02%,
• S&P 500 closed up 0.62%,
• Gold $1,980 up $21.50,
• WTI crude oil settled at $71 down $1.53,
• 10-year U.S. Treasury 3.714% down 0.07 points,
• USD Index $103.33 down $0.77,
• Bitcoin $26,545 up $84,

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

Click here to read our Economic Forecast for June 2023

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

April 2023 sales of merchant wholesalers were down 3.4% from April 2022. Total inventories of merchant wholesalers were up 6.3% from April 2022. The April inventories/sales ratio for merchant wholesalers, except manufacturers’ sales branches and offices, based on seasonally adjusted data, was 1.40 (blue line on the graph below). The bottom line is that the inventories/sales ratio is rising which normally indicates a slowing economy.

In the week ending June 3, the 4-week moving average for initial insurance unemployment claims was 237,250, an increase of 7,500 from the previous week’s revised average. The previous week’s average was revised up by 250 from 229,500 to 229,750. Note the red line on the graph below which shows the weekly initial claims which is volatile and it shows the highest level for initial claims since October 30, 2021.

Here is a summary of headlines we are reading today:

• Is Recycling The Answer To Rare Earth Shortages?
• Auto Giants Slash Prices, Drive Chinese Auto Market Upturn
• OPEC’s Smallest Producer Sees Crude Oil Exports Drop To Zero
• Study Shows Why Organic Solar Cells Are Degrading So Fast
• China Set To Become The World’s Largest Green Hydrogen Importer By 2030
• U.S. Solar Installations Jump 47% In Q1
• Dow rises more than 160 points to notch third straight day of gains, S&P 500 hits new closing high for 2023: Live updates
• Google to crack down on office attendance, asks remote workers to reconsider
• Warner Bros. Discovery stock rises for second straight day as company pays down debt
• VIX Dumps, Gold Pumps, Jobless Jump As Trillion-Dollar Bill-Bomb Looms
• Project Syndicate: AI is now giving big business the power to bust labor unions
• In One Chart: ‘Buying the dip’ is making a major stock-market comeback in 2023 as strategy heads for 3rd-best year ever

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 92 points or 0.27%,
• Nasdaq closed down 1.29%,
• S&P 500 closed down 0.38%,
• Gold $1,958 down $23.90,
• WTI crude oil settled at $73 up $0.88,
• 10-year U.S. Treasury 3.791% up 0.093 points,
• USD Index $104.17 up $0.04,
• Bitcoin $26,490 down $642,

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

Click here to read our Economic Forecast for June 2023

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

April exports were $249.0 billion, $9.2 billion less than March exports. April imports were $323.6 billion, $4.8 billion more than March imports. Year-to-date, the goods and services deficit decreased 23.9% from the same period in 2022. Inflation-adjusted exports increased 4.4% year-over-year whilst inflation-adjusted imports increased only 0.3%. Imports are an indicator of the strength of the economy – and show the economy is insignificantly growing.

Here is a summary of headlines we are reading today:

• Russian Crude Prices Via Druzhba Pipeline To Jump 16% After Dam Collapse
• Saudi Growth Outlook Expected To Slow 2.1% On Oil Output Cuts
• Bitcoin Sinks As Crypto Companies Grapple With SEC Lawsuits
• U.S. Sanctions Iranian And Chinese Companies Over Ballistic Missiles
• The Single Most Important Factor For Oil Prices This Year
• S&P 500, Nasdaq end Wednesday lower as market rally pauses: Live updates
• Cybersecurity ETFs gain steam as investors look for A.I. plays
• Landlords Face A $1.5 Trillion Bill For Interest-Only Commercial Mortgages
• Market Snapshot: Nasdaq tumbles as Treasury yields rise on Fed rate hike expectations

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 10 points or 0.03%,
• Nasdaq closed up 0.36%,
• S&P 500 closed up 0.23%,
• Gold $1,979 up $4.80,
• WTI crude oil settled at $71 down $0.69,
• 10-year U.S. Treasury 3.689% down 0.004 points,
• USD Index $104.15 up $0.14,
• Bitcoin $27,146 up $1,478,

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

Click here to read our Economic Forecast for June 2023

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

Home Price Growth Continues its Annual Single-Digit Slowdown in April according to the CoreLogic Home Price Index (HPI^™) and HPI Forecast^™ for April 2023. U.S. home prices (including distressed sales) increased by 2% year over year in April 2023 compared with April 2022. On a month-over-month basis, home prices increased by 1.2% compared with March 2023. CoreLogic forecasts show annual U.S. home price gains increasing to 4.6% by April 2024.

Here is a summary of headlines we are reading today:

• Gas Stove Regulations Aren’t Done Deal Just Yet
• China And Russia Lock Horns Over Kazakhstan’s Uranium
• Chinese Steel Prices Fall To Three-Year Low
• Shell Halts Unit At Europe’s Biggest Refinery Due To Leak
• Dam Destruction Threatens Ukraine’s Largest Nuclear Plant
• I tried the Apple Vision Pro mixed-reality headset — here’s what it’s like
• Boeing warns new defect on 787 Dreamliners will slow deliveries
• S&P 500 ticks up on Tuesday to close at the highest level in 2023: Live updates
• Market Snapshot: Small-cap stocks rally while Dow dips, as investors consider economic outlook

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