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The U.S. Constitution was well written initially (in 1787 or 1789), but it is obsolete at least, just like the Declaration of Independence (What is “Declaration of Independence”, anyway?).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 …
The U.S. markets closed down on light red volume, while Bitcoin briefly hit $47K. Dogecoin is also higher at $0.1653. Unfortunately, Brainard’s comments seemed to negatively influence the market’s final hour after he said the balance sheet reduction occurring soon and ‘at a rapid pace.’
Today, the DOW’s losses were to losses from Boeing and Salesforce, Inc. In addition, the NASDAQ fell more than 2.3%, leading to stock-market losses as investors continue to observe the Ukraine/Russian fiasco plus weigh the Fed’s policy path. However, low red volume today suggests a wait-and-see posture on what the Fed will say on Wednesday.
Jamie Dimon warns of ‘volatile markets’ as the Fed shifts policy. JP Morgan chief’s annual shareholder letter predicts ‘inflation will eventually start to recede.’ JP Morgan (JPM) CEO Jamie Dimon also flagged the “strength of the U.S. economy” in his annual letter to shareholders on Monday, citing “plentiful jobs with wage increases and more than $2T in excess savings.” The consumer is in “excellent financial shape (on average),” he added, while leverage is “among the lowest on record.”
These and other headlines and news summaries moving the markets today are included below.
Today, stocks on the global indexes rose, with the NASDAQ leading gains on Wall Street as traders shook off recession fears and bought technology shares that lost share position in the first quarter. They were among the hardest-hit sectors in the first quarter as investors feared the Fed’s rate-hiking plans could hinder the group.
At the same time, the U.S. dollar strengthened (98.99) as European leaders urged further sanctions against Moscow following war crime allegations in Ukraine.
In his annual letter to shareholders, JPMorgan (JPM) CEO Jamie Dimon wrote, “The U.S. economy is strong… Excellent mortgage underwriting, plentiful jobs with wage increases, and more than $2T in excess savings, mostly due to government stimulus. The consumer is in excellent financial shape, and leverage is among the lowest on record. Banks also performed magnificently during the COVID-19 crisis… helping to weather the terrible financial storm while setting aside extensive reserves for potential future loan losses.”
Gold markets have stabilized (1931 level) following three weeks of decline, recording an uptick of 0.36 percent despite upcoming interest rate hikes priced into the market. Prices rose to $1,931 per oz., up from $1,925 yesterday, with markets increasingly influenced by reactions to Ukraine/Russian geopolitical events.
These and other headlines and news summaries moving the markets today are included below.
The three major indexes on Wall Street closed in the green after trading in the red for half of today’s session on average volume. The rise appears to be a “Let’s Wait And See What Happens Next” session.
Some analysts reported that today’s financial reports were good, while I see interesting issues. The Unemployment Rate is down to 3.6%, but the Non-Farm Payroll’s dropped radically from 750K to 431K. Government Payrolls crashed from 11K to 5K while ISM Manufacturing New Orders slipped from 61.7 to 53.8. None of this is good news regarding recession fears.
Baker Hughes Oil Rig Count rose from 531 to 533; however, oil fell the most in 2 years after President Bidens oil stockpile release.
A summary of headlines we are reading today:
These and other headlines and news summaries moving the markets today are included below.