17Jan2023 Market Close & Major Financial Headlines: Wall Street’s Main Indexes Opened Lower, Then Continuing Trading Along The Unchanged Line, Ultimately Closing Mixed

Summary Of the Markets Today:

  • The Dow closed down 391 points or 1.14%,
  • Nasdaq closed up 0.14%,
  • S&P 500 down 0.20%,
  • Gold $1911 down $10.50,
  • WTI crude oil settled at $81 up $1.29,
  • 10-year U.S. Treasury 3.557% up 0.04 points,
  • USD $102.38 up $0.17,
  • Bitcoin $21,295 up $185 – Session Low 20,970

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


Click here to read our Economic Forecast for January 2023


Today’s Economic Releases:

CoreLogic’s latest Single-Family Rent Index (SFRI) shows that single-family rental price increases dropped to 7.5% year over year in November 2022, with all four tracked price tiers posting lower gains than a year earlier. November marked the seventh consecutive month of annual deceleration, and while Florida metro areas continued to post the nation’s highest rental cost gains, other Sun Belt cities such as Phoenix and Las Vegas which formerly showed the highest rent increases are now at the bottom. CoreLogic expects that rental price growth, along with home price appreciation, will continue to level off during the first part of 2023.

Manufacturing activity contracted sharply in New York State, according to firms responding to the January 2023 Empire State Manufacturing Survey. The headline general business conditions index fell twenty-two points to -32.9. New orders and shipments declined substantially. Delivery times held steady, and inventories edged higher. Employment growth stalled, and the average workweek shortened. Input price increases slowed considerably, and selling price increases also moderated. Looking ahead, firms expect little improvement in business conditions over the next six months.

The Federal Reserve Bank of New York’s Center for Microeconomic Data today released the December 2022 Survey of Consumer Expectations (SCE) Household Spending Survey, which provides information on individuals’ experiences and expectations regarding household spending. The survey shows a recent decline in monthly household spending growth, even though spending growth remains well above pre-pandemic levels. The share of households that report making a large purchase during the past four months fell compared to August 2022 and December 2021 levels, although it increased for home repairs, electronics, and furniture. The share reporting purchasing a vehicle declined to its lowest level since August 2020.

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A summary of headlines we are reading today:

  • How Long Can Russia Afford To Continue Its War In Ukraine?
  • Emerging Markets Look To Capitalize On Shifting Supply Chains
  • U.S. Gasoline Prices Continue To Rise Even As Demand Slumps
  • U.S. Lithium Production Is Set To Explode
  • Gen Z is driving luxury sales as wealthy shoppers get younger
  • The zero-fare public transit movement is picking up momentum
  • Stocks Tank After US Regulator Threatens To Break-Up ‘Too Big To Manage’ Banks
  • US stocks open lower Goldman Sachs misses profit estimates
  • Futures Movers: Oil prices end higher as investors weigh China demand outlook

These and other headlines and news summaries moving the markets today are included below.

Weather Forecast: Today, Tonight, Tomorrow, Next Day, Five Days, 10 Days for the U.S. with some maps for the World posted January 17, 2023

Updated at 3:40 p.m. EST Tuesday, January 17, 2023

Here is what we are paying attention to in the next 48 to 72 hours. This article also includes World weather forecasts.

We start with the U.S. Information.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
303 PM EST Tue Jan 17 2023

Valid 00Z Wed Jan 18 2023 - 00Z Fri Jan 20 2023

...Potential for severe thunderstorms and flash flooding from the Lower
Mississippi Valley into the Ohio Valley on Wednesday...

...Winter storm to impact the Central High Plains into the Upper Midwest
through Thursday morning...

...Light to moderate rain/snow to affect the Pacific Northwest into
northern California Wednesday/Thursday...

Weather Test Post – First HTML copy/paste with auto-updating graphic

Updated at 7:40 p.m. EST Monday, January 2, 2023

Here is what we are paying attention to in the next 48 to 72 hours from Monday afternoon’s NWS Forecast. This is a combination of a U.S. plus World Weather Article. We have also incorporated much of what we normally issue on Friday Night which is basically the same report but with more images displayed rather than simply providing the links to make it easier for readers to look ahead 28 days. Saturday NOAA issued their End of Month Report which includes the updated outlook for January 2023. We want to feature that over the weekend so we have provided a link in the NOAA End of Month Article back to this article so those readers can visit this article to get the short-term weather forecasts.

We start with the U.S. Information.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
300 PM EST Mon Jan 02 2023

Valid 00Z Tue Jan 03 2023 - 00Z Thu Jan 05 2023

...A low pressure system is bringing heavy snow and ice across the
northern Plains to the upper Midwest as well as heavy rain and severe
weather across the South through the next couple of days...

...Unsettled weather continues along the West Coast with the next round of
heavy precipitation reaching northern California later on Wednesday...

16Jan2023 Market Close & Major Financial Headlines: U.S. Markets Closed For Martin Luther King Day

Summary Of the Markets Today:

  • The Dow was closed for MLK day,
  • Nasdaq was closed for MLK day,
  • S&P 500 was closed for MLK day,
  • Gold $1918 down $3.40,
  • WTI crude oil settled at $79 down $101,
  • Bitcoin $21,121 up $241

Click here to read our Economic Forecast for January 2023


Today’s Economic Releases:

None

A summary of headlines we are reading today:

  • U.S. Tesla Owners Fume About Massive Price Cuts
  • Why Copper Prices Are Rebounding In 2023
  • Germany Will Need To Hold Onto Coal Power For Longer
  • OECD chief says China’s reopening ‘overwhelmingly positive’ to help tackle global inflation crisis
  • The richest 1% of people amassed almost two-thirds of new wealth created in the last two years, Oxfam says
  • Peter Schiff: The Recession Everybody Denies Exists Is Going To Get Worse
  • Job openings data is missing a recent upturn in layoffs, Goldman economist says

These and other headlines and news summaries moving the markets today are included below.

Weather Forecast: Today, Tonight, Tomorrow, Next Day, Five Days, 10 Days for the U.S. with some maps for the World posted January 16, 2023

Updated at 3:50 p.m. EST January 16, 2023

Here is what we are paying attention to in the next 48 to 72 hours. This article also includes World weather forecasts.

We start with the U.S. Information.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
223 PM EST Mon Jan 16 2023

Valid 00Z Tue Jan 17 2023 - 00Z Thu Jan 19 2023

...New storm system to bring heavy snowfall for the higher terrain of the
Four Corners region through Tuesday before advancing east into the Central
Plains on Wednesday...

...Severe thunderstorms are forecast to impact portions of the Lower
Mississippi Valley on Wednesday...

...Heavy rainfall and a localized threat of flash flooding is expected
from the Lower Mississippi Valley to the Lower Ohio Valley on Wednesday...

...Much above normal temperatures are expected to overspread many areas of
the southern and eastern U.S. through midweek...

Weather Forecast: Today, Tonight, Tomorrow, Next Day, Five Days, 10 Days for the U.S. with some maps for the World posted January 15, 2023

Updated at 4:05 pm EST Sunday January 15, 2023

Here is what we are paying attention to in the next 48 to 72 hours. This article also includes World weather forecasts.

We start with the U.S. Information.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
137 PM EST Sun Jan 15 2023

Valid 00Z Mon Jan 16 2023 - 00Z Wed Jan 18 2023

...Rain and heavy mountain snow to continue across the West...

...Unseasonably warm temperatures in the central U.S. ahead of a
developing low pressure system this afternoon...

...Periods of snow and a wintry mix persist for coastal New England as the
rest of the East Coast begins a warm up Monday...

Weather Test 1A

Published post:

https://econcurrents.com/2022/12/31/weather-forecast-tonight-tomorrow-next-day-five-days-10-days-for-the-u-s-with-some-maps-for-the-world-posted-late-december-30-2022-plus-the-28-day-outlook/

Notes:

  1. -more- was properly positioned.
  2. Unused block of code immediately before “3-4 Weeks” section:

<h2>–</h2>
<div>
<div>
<table border=”5px” cellpadding=”3px”>
<tbody>
<tr>
<td></td>
</tr>
</tbody>
</table>
</div>
<div>–</div>
</div>

This created an unfilled image in the text.  Holding code for future use?

3. There are a number of unneeded <div>..</div> plus <H2>..</H2>, <H3>..</H3>, and <H4>..</H4> tags.  These should not cause any problems.

4.  The HTML code doesn’t have any impactful inefficiencies.

GRAPHICS

I have replaced the econintersect image address with the origin address for the 60-hour GIF. (1 am jan. 23).  Let’s see if that creates an auto-update.
{I have replaced the econintersect image address with the origin address for the 60-hour GIF. (1 am jan. 23).  Let’s see if that creates an auto-update.

}

________________________________________________________________________________________

Updated at 7:40 p.m. EST Monday, January 2, 2023

Here is what we are paying attention to in the next 48 to 72 hours from Monday afternoon’s NWS Forecast. This is a combination of a U.S. plus World Weather Article. We have also incorporated much of what we normally issue on Friday Night which is basically the same report but with more images displayed rather than simply providing the links to make it easier for readers to look ahead 28 days. Saturday NOAA issued their End of Month Report which includes the updated outlook for January 2023. We want to feature that over the weekend so we have provided a link in the NOAA End of Month Article back to this article so those readers can visit this article to get the short-term weather forecasts.

We start with the U.S. Information.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
300 PM EST Mon Jan 02 2023

Valid 00Z Tue Jan 03 2023 - 00Z Thu Jan 05 2023

...A low pressure system is bringing heavy snow and ice across the
northern Plains to the upper Midwest as well as heavy rain and severe
weather across the South through the next couple of days...

...Unsettled weather continues along the West Coast with the next round of
heavy precipitation reaching northern California later on Wednesday...

Weather Test 1

Updated at 7:40 p.m. EST Monday, January 2, 2023

Here is what we are paying attention to in the next 48 to 72 hours from Monday afternoon’s NWS Forecast. This is a combination of a U.S. plus World Weather Article. We have also incorporated much of what we normally issue on Friday Night which is basically the same report but with more images displayed rather than simply providing the links to make it easier for readers to look ahead 28 days. Saturday NOAA issued their End of Month Report which includes the updated outlook for January 2023. We want to feature that over the weekend so we have provided a link in the NOAA End of Month Article back to this article so those readers can visit this article to get the short-term weather forecasts.

We start with the U.S. Information.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
300 PM EST Mon Jan 02 2023

Valid 00Z Tue Jan 03 2023 - 00Z Thu Jan 05 2023

...A low pressure system is bringing heavy snow and ice across the
northern Plains to the upper Midwest as well as heavy rain and severe
weather across the South through the next couple of days...

...Unsettled weather continues along the West Coast with the next round of
heavy precipitation reaching northern California later on Wednesday...

Weather Forecast: Today, Tonight, Tomorrow, Next Day, Five Days, 10 Days for the U.S. with some maps for the World posted January 14, 2023

Updated at 4:25 p.m. EST Saturday, January 14, 2023

Here is what we are paying attention to in the next 48 to 72 hours. This article also includes World weather forecasts.

We start with the U.S. Information.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
245 PM EST Sat Jan 14 2023

Valid 00Z Sun Jan 15 2023 - 00Z Tue Jan 17 2023

...Rounds of heavy rain and snow continue in the West through the
weekend...

...Unseasonably warm temperatures in the central U.S. ahead of a
developing low pressure system late Sunday...

...Conditions remain chilly across the East Coast and South with
temperatures near or below freezing spreading into Florida...
 

NOAA Updates it’s ENSO Outlook on January 12, 2023

On the second Thursday of every month, NOAA issues its analysis of the status of ENSO. This includes determining the Alert System Status. The best guess remains March.

But I have actually seen only a few signs of it starting to happen. But all the meteorologists agree that it will.  Could they all be wrong? Probably not.

Will this La Nina transition quickly to the El Nino phase? That would be unusual but some of the models suggest this will happen.  It seems likely that the ENSO Neutral Phase will at the very least have an El Nino Bias.