Summary Of the Markets Today:
- The Dow closed up +1.61% +517 points,
- Nasdaq closed up +2.68%,
- S&P 500 closed up +1.99%,
- WTI crude oil settled at 113, up 3.09%,
- USD $101.98 down 0.10%,
- Gold 1852 flat 0.00%,
- Bitcoin down 0.81% to $29265,
- 10-year U.S. Treasury up 0.004% / 2.751%
Today’s Economic Releases:
The second estimate of 1Q2022 real GDP lowered the economic growth rate to -0.4% from the advance estimates -0.3%. Still, the year-over-year growth rate is 3.5% where the headline number is an extrapolation of the month-over-month change.

The Kansas City Fed’s manufacturing index shows growth slowed in May 2022 but remains in positive territory.

According to the National Association of Realtors, April 2022 made the sixth consecutive month of decline and is now at the slowest pace in nearly a decade. Pending home sales are based on signed contracts for home purchases.
Even though the week claims modestly improved this week, the four-week rolling average continued its worsening trend.

A summary of headlines we are reading today:
- U.S. Refiners Set To Add Just 350,000 Bpd Capacity By End-2023
- Baby formula supply should return to normal in two months, FDA commissioner says
- Home listings suddenly jump as sellers worry they may miss out on the red-hot housing market
- Massive Short-Squeeze Sends Stocks Soaring As Macro Massacre Continues
- Markets Have Reached A Critical Near-Term Pivot With Huge “Trend Reversal” Implications
These and other headlines and news summaries moving the markets today are included below.
