“All men are created equal” – What a slogan in the “Declaration of Independence”!
It was very powerful and useful for America to defy the British King at the time. But its true validity has been in question ever since, with profound implications to date, not only for America but also for the world.
It is time to thoroughly clarify it: it is false!
The last hour of trading saw the three major Wall Street indexes slip perceptibly down from morning highs to close deep into the red. The markets gapped up at the opening into the green only to slide with lower highs and lower lows. Although the closing numbers are not as drastic as some past sessions have been, they mark the penetration of solid support. The next support for the DOW appears to be at 33,500. The tech-heavy NASDAQ has lost more than $1 trillion in market value in just the past five trading sessions.
Analysts blame the fall on the CPI, reporting a whopping 8.5% Y/Y for March. Today, stocks fell after an early morning bounce gave way to selling as investors weighed the latest U.S. inflation data. The report showed another sharp increase in prices as inflation hit a 41-year high. (Inflation Rate rose to 8.5% from 7.9%) However, there are signs price hikes could slow down soon, say some analysts.
“It’s going to be ugly,” said Mark Zandi, chief economist at Moody’s Analytics. “It’s a perfect storm – Russian invasion, surging oil prices, China locking down, further disruptions to supply chains, wage growth accelerating, unfilled positions. Just a kind of scrambled mess leading to painfully high inflation.”
These and other headlines and news summaries moving the markets today are included below.
Wall Street Stocks extended losses in its final hour of trading today, emphasizing investors’ fears of deepening inflation and the inability of the Federal Reserve to control it. The DOW closed lower on losses for shares of Microsoft and American Express. The indexes were pulled lower largely by technology shares as U.S. Treasury yields marched higher.
Bitcoin fell below $40,000 as investors assessed global macro risks, inflation, and a possible recession. Bitcoin could dive to as low as $30,000 by June, considering its strong correlation with tech-heavy equities, according to Arthur Hayes, co-founder of crypto exchange BitMEX. But, Mr. Hays says, “as long as bitcoin trades above its fair valuation of $38,000, there shouldn’t be a crash.”
These and other headlines and news summaries moving the markets today are included below.
On April 4, 2022, the IPPC AR6 WGIII Report was released to the public. In this article, I will try to summarize what was presented. This is complicated by the sensational nature of the analysis presented about the rate of change in global temperature. The analysis conclusion was interpreted by the UN Secretary-General as a dramatic proclamation of the dire need for corrective action.
The U.S. Constitution was well written initially (in 1787 or 1789), but it is obsolete at least, just like the Declaration of Independence (What is “Declaration of Independence”, anyway?).
After the American Revolution concluded in 1783, America was governed under the Articles of Confederation, which did not work out well. As a result, the first Constitutional Convention was held in 1787, resulting in the birth of the original U.S. Constitution.
NIDIS (National Integrated Drought Information System) hosted a Drought Briefing on the Southwest on April 5, 2022. In this article, we provide the recording of the webinar. There are three amazing presentations which include some new ways to make run-off forecasts. I am sure you will find it very interesting. In some cases, the results are surprising. These are very good presenters and provide a lot of information. It is not a good situation but not as bad as one might expect given the continuation of the La Nina.
The DOW climbed 230 points, or 0.7%, while the S&P 500 remained flat after the three main indexes opened the session in the red. The NASDAQ Composite ended down on pace for its first weekly loss in four weeks.
U.S. stocks closed mixed today, with investors continuing to contemplate the next policy moves and investors braced for tighter monetary policy from the Federal Reserve.
Oil prices rose 2% today and recorded their second straight weekly decline. Brent crude futures settled up $2.20, or 2.19%, at $102.78 a barrel. Brent dropped 1.5% this week while WTI slid 1%.
Also, in the news, Campbell Harvey said, the recent brief inversion of the 2-year, 10-year Treasury spread “needs to persist for three months to provide a meaningful signal. When it comes to the slope of the yield curve, flat is bad, and inverted is really bad.” Also commenting, a recession has not been signaled yet.
These and other headlines and news summaries moving the markets today are included below.
U.S. stocks stage a comeback today, showing the three main Wall Street indexes closed higher after two days of back-to-back losses tied to the Fed’s Wednesday plans to control inflation. In addition, initial Jobless Claims were lower this morning while Continuing Jobless Claims were higher.
In other news, Apple Inc., Microsoft Corp, and Tesla Inc. stocks rose today and outperformed the market, while Netflex Inc. stock fell.
These and other headlines and news summaries moving the markets today are included below.
Wall Street opened sharply down and traded sideways in a narrow range until the Fed released today’s minutes reveling its policy tightening plans. Equities immediately pushed the three indexes sharply higher, then slid to a new session low . After reaching the bottom, the BTFDers picked up the slack, aggressively pushing the indexes higher. Finally, realizing profits, the markets slacked off and then closed down after a wild afternoon trading stint.
Deutsche Bank became the first major bank to predict that the US economy would fall into a recession late next year because the Fed was too late to the rate-hike game. “Moody’s Analytics put the odds of one at 33% (at least), Goldman Sachs estimates there’s a 35% chance, and former president of the New York Fed, William Dudley, said it was “virtually inevitable”—so let’s go with 99%,” said SA this morning.
Fed minutes suggest plans to ‘expeditiously’ raise interest rates while trimming the central bank’s $9 trillion balance sheet.
These and other headlines and news summaries moving the markets today are included below.
The “Declaration of Independence” is nothing more than a campaign document!
The document (The Declaration of Independence – 1776) can be easily divided into three parts as follows:
Let me elaborate on each …