10 November, 2022 Market Close & Major Financial Headlines: Wall Street Skyrockets, Dow Soars Over 1,200 Points After Inflation Report

November 10, 2022Posted inmarketsNo Comments

Summary Of the Markets Today:

  • The Dow closed up 1,201 points or 3.70%,
  • Nasdaq closed up 7.35%,
  • S&P 500 up 5.54%,
  • WTI crude oil settled at $86 up $0.45,
  • USD $107.81 down $2.73,
  • Gold $1758 up $44.10,
  • Bitcoin $18,010 up 11.52% – Session Low 15,684,
  • 10-year U.S. Treasury 3.826% down 0.316%

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

Today’s Economic Releases:

In the week ending November 5, the unemployment insurance weekly claims 4-week moving average was 218,750, a decrease of 250 from the previous week’s revised average. The previous week’s average was revised up by 250 from 218,750 to 219,000.

The Consumer Price Index for All Urban Consumers (CPI-U) rose 0.4% in October 2022 – the same increase as in September. Over the last 12 months, the CPI-U increased 7.7%. Shelter contributed over half of the monthly all items increase, with the indexes for gasoline and food also increasing. Inflation still is running hot, and it paves the way for the Fed to continue raising the federal funds rate.

A summary of headlines we are reading today:

  • Worlds Top Chipmaker Eyes Arizona For New $12 Billion Semiconductor Plant
  • Steel Giant ArcelorMittal Faces Growing Economic Headwinds
  • Mortgage rates fall sharply to under 7% after inflation eases
  • Juul reaches financing deal, plans to cut 30% of jobs to dodge bankruptcy
  • Massachusetts voters approve ‘millionaire tax.’ What it means for the wealthy
  • The End Of World Dollar Hegemony: Turning The US Into Weimar Germany
  • Market Explosion Sends CTAs Into Short Covering Frenzy: $79BN To Buy
  • In One Chart: ‘We’ve seen this before,” warns BofA. Why inflation could take until 2024 to fall to 3% and weigh on stocks.

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

November 9, 2022: U.S. 48-Hour and Intermediate-Term Weather Outlooks, Tropical, and World Weather

November 10, 2022Posted inweatherNo Comments

Here is what we are paying attention to this morning and the next 48 hours from this morning’s NWS Forecast.

...Tropical Cyclone Nicole will continue impacting Florida, Georgia, and
South Carolina today, impacts will spread north Friday into the weekend...

...Heavy snow and blizzard conditions possible in the northern High
Plains, Great Plains, and Upper Mississippi Valley today into Friday...

...Strong cold front to spread below normal temperatures across most of
the nation by the end of the weekend...
Voting is overrated!

Voting is overrated!

November 9, 2022Posted inopinionNo Comments

The 2022 midterm election is over. Regardless of the final tally, here are two certainties for America:

  • The GOP will become the majority in the House, which means payback time for the Democrats, including the possibility of having President Biden impeached.
  • The American government will continue to be dysfunctional, and America will thus continue to decline, precipitously.

Why and how can America be so hopelessly in a rabbit hole?

Voting is overrated!

09 November, 2022 Market Close & Major Financial Headlines: Wall Street Opens Lower, Then Trends Downward To End Session Deep In The Red

November 9, 2022Posted inmarketsNo Comments

Summary Of the Markets Today:

  • The Dow closed down 647 points or 1.95%,
  • Nasdaq closed down 2.48%,
  • S&P 500 down 2.08%,
  • WTI crude oil settled at $86 down $3.34,
  • USD $110.41 up $0.77,
  • Gold $1708 up $7.90,
  • Bitcoin $16,184 down 11.22% – Session Low 16.129,
  • 10-year U.S. Treasury 4.101% down 0.027%

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

Today’s Economic Releases:

September 2022 sales of merchant wholesalers were up 14.4% year-over-year. Total inventories were up 24.1% year-over-year. The September inventories/sales ratio was 1.31. The September 2021 ratio was 1.21. Inventory/sales ratios are self-adjusting for inflation and are the best way to look at trends. A ratio above 0 generally tells you the economy is slowing as inventories are rising (see graph below).

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A summary of headlines we are reading today:

  • U.S. Tech Is Being Used In Irans Controversial Drones
  • U.S. And EU To Crack Down On Fossil Fuel Sectors Methane Emissions
  • Machine Learning Helps Create High-Performance Thermoelectric Devices
  • Volvo reveals new $80,000 electric SUV with Luminar lidar
  • Weekly mortgage demand flattens, as interest rates climb higher to 7.14%
  • Disney misses on profit and key revenue segments, warns streaming growth could taper
  • Today’s Inflation Surge Should Discredit Modern Monetary Theory Forever
  • Michael Brush: A slew of catalysts for a stock market rally are converging at the same time

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

November 8, 2022: U.S. 48-Hour and Intermediate-Term Weather Outlooks, Tropical, and World Weather

November 9, 2022Posted inweatherNo Comments

Here is what we are paying attention to this morning and the next 48 hours from this morning’s NWS Forecast.

...Heavy mountain snow today for the Sierra Nevada, Intermountain West,
and northern Rockies...

...Major winter storm impacts possible for portions of the northern Plains
and Upper Mississippi Valley today through Thursday...

...Tropical Cyclone Nicole forecast to bring hurricane conditions to
portions of the Southeast coast and east-central Florida late today or
tonight...

08 November, 2022 Market Close & Major Financial Headlines: Wall Street Closes In The Green For Third Session

November 8, 2022Posted inmarketsNo Comments

Summary Of the Markets Today:

  • The Dow closed up 334 points or 1.02%,
  • Nasdaq closed up 0.49%,
  • S&P 500 up 0.56%,
  • WTI crude oil settled at $89 down $2.58,
  • USD $109.63 down $0.49,
  • Gold $1715 up $34.10,
  • Bitcoin $18,217 down 12.64% – Session Low 17,608,
  • 10-year U.S. Treasury 4.146 down 0.069%

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

Today’s Economic Releases:

NFIB’s Small Business Optimism Index declined 0.8 points in October 2022 to 91.3 which is the 10th consecutive month below the 49-year average of 98. Per NFIB Chief Economist Bill Dunkelberg: “Owners continue to show a dismal view about future sales growth and business conditions, but are still looking to hire new workers . Inflation, supply chain disruptions, and labor shortages continue to limit the ability of many small businesses to meet the demand for their products and services.”

In 2022, the deficit was equal to 5.5 percent of the nation’s gross domestic product (GDP), down from 12.3 percent in 2021, but still larger than the 4.6 percent recorded in 2019—the most recent year not affected by the pandemic. The 2022 deficit was the third largest as a percentage of GDP over the past decade and greater than the 50-year average of 3.6 percent.

A summary of headlines we are reading today:

  • India Ramps Up Oil Imports From Iran And Russia
  • Europe Ramps Up Renewable Capacity Amid War In Ukraine
  • Boeing’s aircraft deliveries slipped in October on 737 fuselage flaw
  • Auto loan delinquencies rise as loan-accommodation programs end
  • “An Asymmetric Payoff”: Why Goldman Sees Gold Soaring 30% When The Fed Starts Cutting Rates
  • Day Trading Guide: Adani Ports among 6 stock recommendations for Wednesday
  • The Margin: Lottery expert: Here are possible reasons for the Powerball problems

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

November 7-8, 2022: U.S. 48-Hour and Intermediate-Term Weather Outlooks, Tropical, and World Weather

November 8, 2022Posted inweatherNo Comments

Here is what we are paying attention to this morning and the next 48 hours from this morning’s NWS Forecast.

...Heavy rain and flash flooding likely across parts of southwestern
California today...

...Heavy mountain snow to continue through Wednesday for the Sierra
Nevada, Intermountain West, and northern Rockies...

...Impacts from Subtropical Storm Nicole expected to begin late today in
eastern Florida...

...Heavy snow and blizzard conditions possible for portions of the
northern High Plains, Great Plains, and Upper Mississippi River Valley
Wednesday through Thursday...

07 November, 2022 Market Close & Major Financial Headlines: Wall Street Closes Higher Ahead Of Midterm Elections

November 7, 2022Posted inmarketsNo Comments

Summary Of the Markets Today:

  • The Dow closed up 424 points or 1.31%,
  • Nasdaq closed up 0.85%,
  • S&P 500 up 0.96%,
  • WTI crude oil settled at $92 down $0.67,
  • USD $110.81 down $2.16,
  • Gold $1678 up $0.062,
  • Bitcoin $20,811 down 1.87% – Session Low 20,620,
  • 10-year U.S. Treasury 4.218% up 0.049

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

Today’s Economic Releases:

According to the Federal Reserve, consumer credit increased at an annual rate of 6.4% in September 2022. Revolving credit increased at an annual rate of 8.7%, while nonrevolving credit increased at an annual rate of 5.7%. As we all know inflation is running amok and consumer credit is actually contracting at 1.0% per year (see graph below).

A summary of headlines we are reading today:

  • Goldman Sachs Downgrades Shell For Above-Average Valuation
  • France’s Nuclear Power Problems Are Mounting
  • Coal Is Casting A Shadow Over Chinas Remarkable Renewable Achievements
  • Consumer confidence in the housing market hits a new low, according to Fannie Mae
  • Here’s how much equity U.S. homeowners have lost since May
  • House Republicans Offer Preview Of Upcoming Investigations In Scathing Indictment Of DOJ, FBI
  • Used-Car Prices Collapse The Most Since Lehman Meltdown
  • Market Snapshot: Dow up more than 400 points as investors await midterm elections, inflation data

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

November 4, 2022 Looking Ahead 28 Days Plus our usual 48-hour report.

November 5, 2022Posted inweatherNo Comments

Part II was updated at 6:05 p.m. EST on November 6 2022 to reflect the updated Sunday and Monday forecast. We will do another update later and then publish a new 48-hour report tonight.

Cold plus moisture means snow for the Northwest

NOAA updates many of its weather outlooks daily or even more frequently and in many cases issues a discussion with those outlooks. We provide a daily report which focuses on the shorter-term predictions but also has links to all the partial-month outlooks. Because WordPress does not provide the ability to have these maps automatically updated, our daily report shows some of the maps which we update each evening plus the links to the other important weather forecast maps.

Once a week we show many of the actual forecast maps not just provide the links to these maps. This makes it easier for the reader. Our report provides a separate forecast for Days1-5, Days 6 -10, Days 8 – 14, and weeks 3 and 4. This provides information that is useful to readers in terms of planning their activities for the next 28 days.

The week 3-4 outlook is only updated by NOAA’s Climate Prediction Service once a week on Friday. Thus, when we publish on Friday night, it provides a 28-day view of the future. What is important is that this is a longer-term view than one that is typically available in the media and online.

The key dynamic is the High Pressure over Alaska which brings cold air into the U.S. Northwest. Combined with the ongoing atmospheric river we end up with a wet and snowy Northwest. The intensity and extent of this pattern vary through the month as does the level of confidence in the strength of the pattern. Drought intensifies in other parts of the U.S.

We also include In Part II of the article the other information from the daily 48-hour forecast article. Importantly, this time of the year, it includes updates on tropical events. In both Parts I and II we also include some worldwide forecasts.

It is important to recognize that the forecasts do not always work out as predicted. But in the article, there are links to obtain updated forecasts If you read this article a few days or more after it is published. And there will be a totally updated version next Friday.