09Dec2022 Market Close & Major Financial Headlines: Wall Street Indexes Traded Along The Unchanged Line, Diving Sharply During The Last 30 Minutes To Close At The Session Bottom

December 9, 2022Posted inmarketsNo Comments

Summary Of the Markets Today:

  • The Dow closed down 305 points or 0.90%,
  • Nasdaq closed down 0.70%,
  • S&P 500 down 0.73%,
  • WTI crude oil settled at $71 down $0.06,
  • USD $104.97 up $0.20,
  • Gold $1808 up $6.10,
  • Bitcoin $17,105 down 0.50% – Session Low 17,098,
  • 10-year U.S. Treasury 3.575% up 0.83%
  • Baker Hughes Rig Count: U.S. -4 to 780 Canada + 7 to 202

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

Click here to read our Economic Forecast for December 2022

Today’s Economic Releases:

The Producer Price Index for final demand moderated to 7.4% for the 12 months ended in November. One would expect the Consumer Price Index to come in next week around the same level.

October 2022 sales of merchant wholesalers, except manufacturers’ sales branches and offices, after adjustment for seasonal variations and trading day differences but not for price changes, were up 11.9% from the revised October 2021 level. Total inventories were up 21.9% from the revised October 2021 level. The October inventories/sales ratio for merchant wholesalers was 1.32. The October 2021 ratio was 1.21. Sales to inventory ratio is the proper way to look at wholesale trade as it does not need to be adjusted for inflation. A rising ration normally signals a slowing economy.

CoreLogic today released the Homeowner Equity Report (HER) for the third quarter of 2022. The report shows that U.S. homeowners with mortgages (which account for roughly 63% of all properties) saw equity increase by 15.8% year over year, representing a collective gain of $2.2 trillion, for an average of $34,300 per borrower, since the third quarter of 2021. Annual home equity gains began to slow in the third quarter of 2022, with the average borrower netting $34,300, compared with the nearly $60,000 year-over-year gain recorded in the second quarter.

The University of Michigan Preliminary consumer sentiment for December 2022 rose 4% above November, recovering most of the losses from November but remaining low from a historical perspective. All components of the index lifted, with one-year business conditions surging 14% and long-term business conditions increasing a more modest 6%.

A summary of headlines we are reading today:

  • Battery Metal Prices Slide Sideways
  • JPMorgan’s Kolanovic: Sell Oil Stocks Now
  • U.S. Oil And Gas Rig Count Falls Slightly
  • Stellantis to indefinitely idle Jeep plant, lay off workers to cut costs for EVs
  • Marijuana industry sales slow down after pandemic surge
  • Covid and flu hospitalizations increase as holidays approach, while RSV retreats in some states
  • “There Is No Soft Landing” – RH CEO Warns Housing Market “Looks More Like A Crash-Landing”
  • The Jobs “Boom” Isn’t So Hot When We Remember Nearly Six Million Men Are Missing From The Workforce
  • Store Credit Cards Hit 30% Interest Rates As Consumer Balances Rise
  • Foreclosure activity rose 64% from a year ago in November and was highest in these U.S. cities

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

NOAA Updates it’s ENSO Outlook on December 8, 2022

December 9, 2022Posted inweatherNo Comments

Updated at 3:45 p.m. December 9, 2022 to complete certain edits that were not completed at the time this article was published. They add a little more clarity to the discussion.

On the second Thursday of every month, NOAA issues its analysis of the status of ENSO. This includes determining the Alert System Status. Although the current status remains the same i.e.  La Nina Advisory, the forecast has again been adjusted slightly from the prior month. There is some disagreement on when this La Nina will end with the best guess being perhaps March. But some meteorological agencies believe it could be sooner than that.

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.

Weather Forecast: Today, Tomorrow, Five Days, 10 Days U.S. and World December 9, 2022

December 9, 2022Posted inweatherNo Comments

Updated at 3:04 p.m. EST December 9, 2022

Here is what we are paying attention to today and the next 48 hours from Friday Afternoon’s NWS Forecast. During the week we publish each morning. On Weekends, we will publish late Friday night and do updates during the weekend. Either way, you will have current forecasts with a longer forecast on the weekends. This is a combination of a U.S. plus World Weather Article.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
250 PM EST Fri Dec 09 2022

Valid 00Z Sat Dec 10 2022 - 00Z Mon Dec 12 2022

...Major storm system to bring heavy mountain snow and coastal rain to the
West this weekend...

...Episodes of moderate to locally heavy rain possible as showers and
thunderstorms continue for the South...

...Wintry weather expected to enter the Northeast early Sunday...

08Dec2022 Market Close & Major Financial Headlines: Major Wall Street Indexes Opened Higher, Traded Sideways, And Closed In The Green

December 8, 2022Posted inmarketsNo Comments

Summary Of the Markets Today:

  • The Dow closed up 184 points or 0.54%,
  • Nasdaq closed up 1.13%,
  • S&P 500 up 0.75%,
  • WTI crude oil settled at $71 down $0.59,
  • USD $105.13 down $0.44,
  • Gold $1800 up $2.10,
  • Bitcoin $17,203 up 2.25% – Session Low 16,797,
  • 10-year U.S. Treasury 3.487% up 0.81%

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

Click here to read our Economic Forecast for December 2022

Today’s Economic Releases:

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The Atlanta Fed’s Wage Growth Tracker is a measure of the nominal wage growth of individuals. It was 6.4 percent in November, the same as in October. For people who changed jobs, the Tracker in November was 8.1 percent, compared to 7.6 percent in October. For those not changing jobs, the Tracker was 5.5 percent, similar to the 5.4 percent reading in October.

In the week ending December 3, the advance figure for unemployment insurance weekly claims 4-week moving average was 230,000, an increase of 1,000 from the previous week’s revised average. The previous week’s average was revised up by 250 from 228,750 to 229,000.

 

A summary of headlines we are reading today:

  • No Relief In Sight For Bosphorus Oil Tanker Jam
  • Iron Ore Futures Jump As Chinese Cities Ease Covid Restrictions
  • GameStop shares rise after earnings report
  • Paramount shares fall as CEO lowers fourth-quarter ad revenue forecast
  • Microsoft Slides After FTC Blocks Activision Deal, Drags Market Lower
  • House Passes Record $858 Billion Defense Policy Bill
  • US stocks open higher after recent selloff

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

Weather Forecast: Tonight, Tomorrow, Five Days, 10 Days U.S. and World December 7, 2022

December 8, 2022Posted inweatherNo Comments

Updated at 6:05 p.m. December 8, 2022 to include the afternoon NWS 48 hour forecast. We will publish again tonight but also we will also publish the ENSO Update.

Here is what we are paying attention to this afternoon and the next 48 hours from Thursday Afternoon’s NWS Forecast. During the week we will publish each evening. On Weekends, we will publish Friday night and do updates during the weekend. Either way, you will have current forecasts with a longer forecast on the weekends. This is a combination of a U.S. plus World Weather Article.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
309 PM EST Thu Dec 08 2022

Valid 00Z Fri Dec 09 2022 - 00Z Sun Dec 11 2022

...Episodes of moderate to heavy rain expected to track across the
Southern Plains to the Mid-Mississippi Valley the next couple of days...

...Wintry weather spreading into the Central/Northern Plains today and
into the Upper Midwest on Friday...

...Heavy precipitation expected for the Pacific Northwest and northern
California today before significant mountain snowfall arrives tomorrow...



















	




	
	

		07Dec2022 Market Close & Major Financial Headlines: Wall Street Ended The Day Little Changed	





		
			
		
		December 7, 2022Posted inmarketsNo Comments




	
Summary Of the Markets Today:


    

  • The Dow closed up 1.58 points or 0.00%,
    • 

  • Nasdaq closed down 0.51%,
    • 

  • S&P 500 down 0.19%,
    • 

  • WTI crude oil settled at $72 down $1.92,
    • 

  • USD $105.13 down $0.44,
    • 

  • Gold $1800 up $17.50,
    • 

  • Bitcoin $16,832 down 0.94% – Session Low 16,755,
    • 

  • 10-year U.S. Treasury 3.413% down 0.10%
    • 



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




Click here to read our Economic Forecast for December 2022




Today’s Economic Releases:


3Q2022 nonfarm business sector labor productivity decreased 1.3% year-over-year (blue line on the graph below) while labor costs increased 5.3% (red line on the graph below) year-over-year.




As job cuts rise and economic softness looms, the number of seasonal jobs added in Retail has fallen to the lowest level for November since 2008, according to an analysis of non-seasonally adjusted data from the Bureau of Labor Statistics (BLS) by global outplacement and executive coaching firm Challenger, Gray & Christmas, Inc. Retailers added 256,700 jobs in November, according to non-seasonally adjusted data from the BLS, down 26% from the 348,600 jobs added in November last year, and the lowest number of jobs added in the sector for that month since 2008, when 213,600 Retail positions were added. That year, 15,351,700 were employed in Retail companies.


A summary of headlines we are reading today:




    

  • Food Security Has Become A Central Priority For Many Emerging Markets
    • 

  • Mining Giant Glencore Sees Huge Deficit In Copper Coming
    • 

  • Saudi Arabia Vows To Stick With China As An Energy Partner
    • 

  • Southwest Airlines reinstates dividend after nearly three years as travel rebounds
    • 

  • Mortgage demand falls again even as rates sink further
    • 

  • AOC Under Investigation By House Ethics Committee
    • 

  • Futures Movers: U.S. oil prices drop 3%, pressured by China demand uncertainty, rise in domestic product stocks
    • 

  • Get ready for a ‘conundrum’ of a respiratory illness season
    • 



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





















	




	
	

		Weather Forecast: Tonight, Tomorrow, Five Days, 10 Days U.S. and World December 6, 2022	





		
			
		
		December 7, 2022Posted inweatherNo Comments




	
Updated at 4:37 p.m. EST December 7, 2022


Here is what we are paying attention to this afternoon and the next 48 hours from Wednesday Afternoon’s NWS Forecast. During the week we will publish each evening. On Weekends, we will publish Friday night and do updates during the weekend. Either way, you will have current forecasts with a longer forecast on the weekends. This is a combination of a U.S. plus World Weather Article.


Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
305 PM EST Wed Dec 07 2022

Valid 00Z Thu Dec 08 2022 - 00Z Sat Dec 10 2022

...Heavy rain and marginal flash flooding threat across the Central Plains
through Thursday morning...

...Wintry weather spreading into the Central/Northern Plains tonight into
tomorrow...

...Next round of heavy precipitation expected to reach the Pacific
Northwest later tonight before spreading inland and down into California
Thursday night into early Friday...
























	




	
	

		06Dec2022 Market Close & Major Financial Headlines: Wall Street Slips Again Leaving The Three Major Indexes Down More Than 1% Today	





		
			
		
		December 6, 2022Posted inmarketsNo Comments




	
Summary Of the Markets Today:


    

  • The Dow closed down 351 points or 1.03%,
    • 

  • Nasdaq closed down 2.00%,
    • 

  • S&P 500 down 1.44%,
    • 

  • WTI crude oil settled at $74 down $2.52,
    • 

  • USD $105.55 up $0.26,
    • 

  • Gold $1784 up $2.40,
    • 

  • Bitcoin $16,992 up 0.23% – Session Low 16,926,
    • 

  • 10-year U.S. Treasury 3.519% down 0.08%
    • 



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




Click here to read our Economic Forecast for December 2022




Today’s Economic Releases:


The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced today that the goods and services deficit was $78.2 billion in October 2022, up $4.0 billion from $74.1 billion in September, revised. The October increase in the goods and services deficit reflected an increase in the goods deficit of $6.1 billion to $99.6 billion and an increase in the services surplus of $2.1 billion to $21.4 billion.




Home prices nationwide increased year over year by 10.1% in October 2022 compared with October 2021. On a month-over-month basis, home prices declined by 0.1% in October 2022 compared with September 2022. The CoreLogic HPI Forecast indicates that home prices will increase on a month-over-month basis by 0.0% from October 2022 to November 2022 and on a year-over-year basis by 4.1% from October 2022 to October 2023.




 


A summary of headlines we are reading today:




    

  • High Oil Prices Are Fueling Economic Growth In The Middle East
    • 

  • Russias Army Is Running Out Of Ammunition
    • 

  • Here’s what America’s top CEOs are saying about a possible recession in 2023
    • 

  • Boeing’s last 747 is rolling out of the factory after a more than 50-year production run
    • 

  • Rising thefts at Walmart could lead to price jumps, store closures, CEO says
    • 

  • GM continues to evaluate Twitter’s advertising suspension following Musk’s takeover
    • 

  • Goldman, BofA, JPM CEOs Paint Grim Picture Of US Economy, Market In 2023
    • 

  • Did Trump Really Call For Termination Of The Constitution?
    • 

  • Washington Watch: Here are the politicians who received money from FTX’s Sam Bankman-Fried
    • 



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





















	




	
	

		Weather Forecast: Tonight, Tomorrow, Five Days, 10 Days U.S. and World  December 5, 2022	





		
			
		
		December 6, 2022Posted inweatherNo Comments




	
Updated at 9 p.m. EST December 6, 2022.  It now provides a little glimpse of Tuesday Night and Wednesday.


Here is what we are paying attention to tonight and the next 48 hours from Tuesday Afternoon’s NWS Forecast. During the week we will publish each evening. On Weekends, we will publish Friday night and do updates during the weekend. Either way, you will have current forecasts with a longer forecast on the weekends. This is a combination of a U.S. plus World Weather Article.


Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
303 PM EST Tue Dec 06 2022

Valid 00Z Wed Dec 07 2022 - 00Z Fri Dec 09 2022

...Isolated flash flooding possible over the Central Plains later on
Wednesday into Thursday...

...Accumulating snows across the Northern Plains and through portions of
the Northern and Central Rockies...

...Widespread much above average temperatures across the southern and
eastern U.S. in stark contrast with Arctic air across the Northern
Plains...