03Jan2023 Market Close & Major Financial Headlines: Wall Street Began The New Year Closing Moderately Down After Opening Sharply Higher

January 3, 2023Posted inmarketsNo Comments

Summary Of the Markets Today:

  • The Dow closed down 11 points or 0.03%,
  • Nasdaq closed down 0.76%,
  • S&P 500 down 0.40%,
  • WTI crude oil settled at $77 down $3.07,
  • USD $104.66 up $1.14,
  • Gold $1843 up $17.10,
  • Bitcoin $16,654 down 0. 42% – Session Low 16,609,
  • 10-year U.S. Treasury 3.786% down 0.045

Click here to read our Economic Forecast for January 2023

Today’s Economic Releases:

Construction spending during November 2022 is 8.5% above November 2021. During the first eleven months of this year, construction spending is 10.5% above the same period in 2021. When the data is inflation-adjusted, construction spending contracted 8.8% year-over-year (blue line on graph below).

The NFIB Research Center released the latest COVID-19 survey assessing the impact the COVID-19 pandemic has had on small businesses.  Holly Wade, Executive Director of NFIB’s Research Center stated:

The small business economy is recovering from the pandemic, but they continue to manage other economic headwinds. With historic inflation, ongoing staffing shortages, and supply chain disruptions, owners are working hard to get back to pre-crisis economic levels.

Key findings include:

    • Just over one-third (36%) of small businesses are at or exceeding pre-crisis sales levels, only one percentage point higher than in March 2022.
    • Thirty-four percent of small businesses are back or nearly back to where they were with sales 75% – 99% of pre-crisis levels with another 20% at sales levels of 50% – 74% pre-crisis.
    • Sales levels are less than 50% of pre-crisis levels for 11% of small businesses.

 

A summary of headlines we are reading today:

  • Europe Faces Difficult Years, But Russia Stands To Lose Energy Showdown
  • OPEC Production Creeps Higher In December
  • Teslas Rough Start To The Year Just Got Worse As Lithium Supplier Changes Deal
  • Home price increases weakened sharply in November, posting the smallest annual gain in 2 years
  • As investors shift focus from inflation to growth, Club stocks with China exposure stand to gain
  • Feds launch FTX task force to recover victim assets, continue probes as Bankman-Fried pleads not guilty
  • The Mega Millions jackpot is $785 million. Taking the lump sum is ‘typically a big mistake,’ lottery lawyer says
  • TaxWatch: Brace yourself: Your tax refund could shrink in 2023. Here’s why.

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

Weather Forecast: Today, Tomorrow, Next Day, Five Days, 10 Days for the U.S. with some maps for the World posted early January 3, 2023

January 3, 2023Posted inweatherNo Comments

Updated at 6:58 p.m. January 3, 2023

Here is what we are paying attention to in the next 48 to 72 hours from Tuesday afternoon’s NWS Forecast. 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
258 PM EST Tue Jan 03 2023

Valid 00Z Wed Jan 04 2023 - 00Z Fri Jan 06 2023

...Heavy snow across parts of the Upper Midwest through Wednesday while
freezing rain and a wintry mix spreads into northern New England by
Thursday...

...Severe thunderstorms and instances of flash flooding likely across
portions of the Southeast tonight...

...Strong atmospheric river to produce heavy rain, damaging winds, rough
surf, and heavy mountain snow across much of California into southern
Oregon on Wednesday and Thursday...
Africa without America?

Africa without America?

January 3, 2023Posted inopinionNo Comments

Among all the major continents on Earth (e.g., Europe and Asia), Africa is most likely to be the first without much American influence.

Why is that?

China!

Four main reasons:

  • Western colonialism has totally devastated Africa, although it was a troubled land for a long time before it.
  • Africa wants to be independent.
  • China offers a real model of prosperity without colonialism!
  • China has been investing a lot in Africa.

Let me highlight each …

NOAA Updates it’s January 2023 Outlook on December 31, 2022

January 1, 2023Posted inweatherNo Comments

At the end of every month, NOAA updates its Outlook for the following month which in this case is January of 2023. They also issue a Drought Outlook for the following month. We are reporting on that this evening New Year’s Eve.

There have been some significant changes in the Outlook for January and these are addressed in the NOAA Discussion so it is well worth reading. We highlighted some of the important changes within the NOAA Discussion.  Of particular interest is the absence of major disruptive factors which were present in December. There has not been much discussion about a potential Sudden Stratospheric Warming (SSW) Event but it has been of concern and that concern now seems to have lessened. The potential for a SSW is no longer in the forecast hence there is minimal cold-air intrusions from the Arctic in the Outlook for January.

The article includes the Drought Outlook for January. We have also included the current fire incidents (not many) and four months of Wildland Fire Potential Outlooks and also a map showing the year-to-date snowpack and precipitation in the West. We also provide the Week 2/3 Tropical Outlook for the World.

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

December 31, 2022Posted inweatherNo Comments

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...

30Dec2022 Market Close & Major Financial Headlines: Markets End 2022 On A Down Note

December 30, 2022Posted inmarketsNo Comments

Summary Of the Markets Today:

  • The Dow closed down 74 points or 0.22%,
  • Nasdaq closed down 0.11%,
  • S&P 500 closed down 0.25%,
  • Gold $1830 up $3.70,
  • WTI crude oil settled at $80 up $2.01,
  • 10-year U.S. Treasury 3.879% down 0.044 points,
  • USD index $103.49 down $0.34,
  • Bitcoin $16,604 up $29.10

Click here to read our Economic Forecast for January 2023

Today’s Economic Releases:

The Chicago Business Barometer increased by 7.7 points to 44.9 in December. This month’s “recovery” broke a three-month streak of falls – but the index remained contractive for a fourth consecutive month. The markets look to this index as a window into the national PMI index which will be released next week.

The Federal Reserve Bank of Philadelphia has released the coincident indices for all 50 states in November 2022. Over the past three months, the indices increased in 35 states, decreased in 11 states, and remained little changed in 4 states. Their index for all 50 states increased 0.8% river the past three months.

For reference, your case ID number is: 5004z00001kj4V0AAI

A summary of headlines we are reading today:

  • Chevron Sending Tanker To Venezuela To Load Oil
  • U.S. Oil, Gas Rigs Up 193 This Year
  • Putin: Russia Is Now One Of Chinas Leading Oil & Gas Suppliers
  • Southwest Airlines says holiday meltdown will ‘certainly’ hit fourth-quarter results
  • Cramer’s final thoughts for the year: Making sense of multiples amid a looming recession
  • Pledging Deepened Military Ties With Putin, Xi To Visit Russia In Spring Against Backdrop Of War
  • Housing Supply Jumps Most On Record As Market Freezes

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

January 2023 Economic Forecast: Our Indicators Predict Little Change In The Rate Of Economic Growth

December 30, 2022Posted ineconomics, macroeconomics2 Comments

Authored by Steven Hansen

EconCurrent‘s Economic Index insignificantly improved this month but continues to show the lowest level of growth since the 2020 recession. The ongoing weakness of transport, and imports continues to weigh on our economic forecast. There is no question we live in interesting economic times as the future economic impacts of inflation, pandemics, and the war in Ukraine are unpredictable. Read on to understand the currents affecting our economic growth.

Weather Forecast: Tonight, Tomorrow, Next Day, Five Days, 10 Days for the U.S. with some maps for the World posted late December 29, 2022

December 30, 2022Posted inweatherNo Comments

Updated at 4:30 p.m. EST December 30, 2022

The “Happy New Year” is a bit early for sure but I hate being late for a party.

Here is what we are paying attention to in the next 48 hours from Friday afternoon’s NWS Forecast. This is a combination of a U.S. plus World Weather Article. We start with the U.S. Information.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
158 PM EST Fri Dec 30 2022

Valid 00Z Sat Dec 31 2022 - 00Z Mon Jan 02 2023

...Much above average temperatures expected across much of the central to
eastern U.S. as 2022 ends and 2023 begins...

...Wet weather pattern to continue across large portions of the West coast
with Flash Flooding possible through large portions of California...

...The New Year will ring in wet from Southern California, through
Southern Nevada into Northern Utah and from New York City into New
England...





















	




	
	

		29Dec2022 Market Close & Major Financial Headlines: Wall Street Opened higher, Trading Trended Sideways, And Closed Near Session Highs	





		
			
		
		December 29, 2022Posted inmarketsNo Comments




	
Summary Of the Markets Today:


    

  • The Dow closed up 345 points or 1.05%,
    • 

  • Nasdaq closed up 2.59%,
    • 

  • S&P 500 up 1.75%,
    • 

  • WTI crude oil settled at $78 down $0.47,
    • 

  • USD $103.91 down $0.55,
    • 

  • Gold $1822 up $6.10,
    • 

  • Bitcoin $16,593 up 0. 05% – Session Low 16,478,
    • 

  • 10-year U.S. Treasury 3.826% down 0.06 points
    • 



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




Click here to read our Economic Forecast for December 2022




Today’s Economic Releases:


None


A summary of headlines we are reading today:




    

  • China Sets The Tone In Oil Markets At Year’s End
    • 

  • Another High-ranked Russian Military Officer Dies Unexpectedly
    • 

  • Southwest Airlines says it expects normal operations on Friday after thousands of cancellations
    • 

  • 2022 was tough for media stocks like Netflix and Disney, and 2023 doesn’t look good, either
    • 

  • 2023 could be another difficult year for the auto industry – here’s why
    • 

  • JPMorgan Sued By Virgin Islands Over Jeffrey Epstein’s Alleged Sex-Trafficking Operation
    • 

  • Tesla’s worst-ever year brings $17 billion windfall for shorts
    • 

  • Distributed Ledger: Mark Cuban says gold buyers are ‘dumb as f—,’ sparking a gold vs. bitcoin spat with Peter Schiff
    • 

  • Market Extra: Did 2022 break Wall Street’s ‘fear gauge’? Why the VIX no longer reflects the sorry state of the stock market
    • 



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