17Mar2022 Market Close & Major Financial Headlines: Wall Street Closed Higher After Feds Interest Rate Increase, DOW Closed Up 418 Points, NASDAQ Up 1.3%, S&P 500 Up 1.2%, Gold At 1935, Silver at 25.25, Both At Support, Bitcoin Fractionally Lower At 40800

March 17, 2022Posted inmarketsNo Comments

The Green Back rose on Saint Paddy’s Day to $97.99 along with U.S. equities on moderately lower green volume. Investors are getting used to the Fed’s actions as stocks jumped for a third day. “We’re on day three of potential gains here, and a lot of investors are going in thinking maybe there are calmer waters,” Jeff Kilburg, the chief investment officer of Sanctuary Wealth, said this afternoon.

Investors digesting the latest news out of Ukraine seem to be getting comfortable with the outcome of the Federal Reserve meeting yesterday. However, the down trend line of the three major indexes was broken upwards may be a false flag, leading to more losses.

Wall Street stocks rebounded from early losses this morning as investors considered the Federal Reserve’s economic implications, which some say were surprisingly aggressive.

Crude prices originally rose on initial supply shortages and concerns from the Russia-Ukraine war. Oil prices spike nearly 10% as hopes of Ukraine’s ceasefire fade. As the White House continues to push back against the oil industry over high gasoline prices, WTI and Brent crude rallied today to gain nearly 10% by 3:30 p.m. ET. In addition, oil prices rebounded substantially today after a major selloff earlier in the week.

A summary of headlines we are reading today:

  • A Million New Millionaires Were Created In U.S. Last Year, And The Richest Got Richer, Report Says
  • Stocks Go Full Green On St Paddy’s Day Ahead Of Massive OpEx
  • Uranium Stocks Soar After U.S. Signals Aid For Nuclear Power
  • Russia Says It Made Debt Payments In Dollars, A Move That Would Avert Potential Default: Reports

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

16Mar2022 Market Close & Major Financial Headlines: Wall Street Continues Rally For Second Day, DOW Closes Up 519 Points, NASDAQ Up Sharply 3.8%, S&P 500 up 2.2%, WTI Crude Settles At 95.04, Bitcoin Rises Fractionally To 41200

March 16, 2022Posted inmarketsNo Comments

Wall Street, gold, cryptos soar as Fed hawkish surprise triggers a countdown to a recession this summer warns strategist. The Federal Reserve approved its first interest rate hike in three years today and expects to see six more rate hikes ahead. Moreover, the Fed has signaled a willingness to sacrifice growth to stop inflation.

WTI settled near where it was yesterday as Oil sheds most of its Russian war premium. However, China’s latest COVID lock down will reduce its demand for crude in the coming months and may lower crude prices further. The USD has slipped fractionally to 95.04 while gold rose moderately to 1928.

The widely followed president and chief economist and strategist of Toronto-based Rosenberg Research & Associates Inc., David Rosenberg, said the Fed is trying to beat inflation that will result in the U.S. economy sliding into a recession as early as this summer.

Rosenberg sees evidence of a slowing economy already, which makes the Fed’s timing questionable and only amplifies his recession call.

A summary of headlines we are reading today:

  • Chernobyl Could Be Close To New Nuclear Disaster
  • Russia’s Invasion Of Ukraine Will Lower Car Production By Millions Of Units Over Two Years, S&P Says
  • Energy Spending To Hit Record 13% Of Global GDP In 2022
  • Beyond First Rate Hike, The Fed Signals That Inflation Fight Is Going To Get Harder

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

Assessing the U.S. Climate in February, 2022

March 16, 2022Posted inClimate, weatherNo Comments

Updated at 0:15 AM EDT March 17, 2022 to include information on worldwide precipitation and the corresponding discussion.

Recently I published a podcast about February climate prepared by two meteorologists who work at CLIMAS. It focuses on why February was the way it was for the U.S. Southwest and West Coast.

This is the official NCEI assessment of the U.S. Climate in February, 2022. it describes what it was not why it was. Sometimes I use an email that a PR person sends out on that report. This time I am working with the report itself. Plus there was some supplementary information provided and I am including some of that as well. The report is pretty complete so I only added a few comments to it. The main comment is that the last decade has been the warmest ever in modern times but that can be confusing if you say that this is the fifth warmest year ever (just an example). That could mean it is average for the last ten years. Although this article is mostly about CONUS plus Alaska, I have included the World temperature record for the last 128 Februaries.

What is China, anyway?

What is China, anyway?

March 16, 2022Posted inopinion1 Comment

China is the greatest country in human history! Three main reasons:

  • China has the longest continuous civilization in human history.
  • Throughout human history, great civilizations have come and gone, with one major exception: China – come, almost gone, and come again.
  • China offers a real model of prosperity, without colonialism!

15Mar2022 Market Close & Major Financial Headlines: The DOW Closed Up 599 Points, Just Shy Of Its Session Highs, NASDAQ Closed Higher At +2.9% And The S&P 500 Closed Up 2.1%, Gold Sipped To 1915, WTI Crude Settled At 95.03

March 15, 2022Posted inmarketsNo Comments

The three major Wall Street indexes closed near their highs in a rebound during the last hour and a half. Stocks end today’s session significantly higher after trading sideways during the late afternoon session. Today’s rise appears to be a relief rally helped in part by falling crude costs and rising prices of tech stocks.

Oil has fallen more than 27% of recent highs and 5% today. Chinese stocks listed in Hong Kong have taken the largest plunge since 2008’s financial crisis, and the fall is blamed on concerns of its close affiliation with Russia.

A summary of headlines we are reading today:

The World Is Facing A Critical Diesel Shortage
EIA: The U.S. Is Still Energy Independent
Crude Craters, Chinese Tech ‘Dead Cat Bounces’, & VXX Decouples From Reality
Tesla Bought Russian Aluminum To Make Body Shells For Model Y
Bond Report: Treasury Yields Rise To Highest In Almost Three Years As Fed Settles Into Its Two-Day Meeting

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

14Mar2022 Market Close & Major Financial Headlines: Wall Street Closes Down, DOW Up 1 Tiny Point, But Headed Down After Opening, NASDAQ Down 2.0%, S&P 500 Down 0.7%, WTI Crude Slips To $101, Gold Trading At 1953

March 14, 2022Posted inmarketsNo Comments

Wall Street opened higher at the opening few minutes. Still, like a rollercoaster, the rest of the session was downhill, finally leveling off in negative territory and trading sideways for most of the late afternoon trading.

Stocks turned lower, and oil prices fell as traders looked ahead to the Fed decision this week. Investors are awaiting the Federal Reserve’s next monetary policy decision amid the ongoing invasion in Ukraine and soaring inflation.

A summary of headlines we are reading today:

• Speculators Massively Cut Their Bullish Bets On Oil
• Russia Looks To Charm India With Cheap Oil Supplies
• Renewable Energy Projects Are Facing Resistance Around The World
• Carnage: China Breaks, Apple Cracks Key Support, Yields Soar As Rate Hike Odds Surge
• U.S. Oil Tumbles More Than 8%, Dips Below $100 Per Barrel

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

Mar 2022 Southwest Climate Podcast – Cold(ish), Windy, and Dry – Winter Recap & Looking Ahead

March 14, 2022Posted inClimate, weatherNo Comments

In the March 2022 edition of the CLIMAS Southwest Climate Podcast, Mike Crimmins and Zack Guido “dive into a recap of winter (so far) in the Southwest. First, recap winter to date, and put it in the context of a double-dip La Niña, including precipitation totals, temperature, and snowpack. Then they take a closer look at the phases of the PNA (Pacific/North American pattern) and how this links to ENSO/La Niña and the weather conditions this winter. Finally, they revisit temperature to consider just how “cold” it has actually been, and preview a closer look at fire outlooks, snowpack, and water supply in upcoming podcasts”.

ENSO Update March 10, 2022: La Nina Remains and if Anything is Stronger

March 12, 2022Posted inweatherNo Comments

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 been adjusted somewhat from last month. The forecast calls for the La Nina to continue to fade perhaps but right now it is stronger.  The timing is shown in the NOAA discussion and the IRI probability analysis. Of importance, the chances of a Triple Dip La Nina are not ruled out. That could be a real disaster for the Southwest and the West Coast.

The impact of the NOAA forecast for the transition from La Nina to ENSO Neutral will show up next Thursday when NOAA issues its Seasonal Outlook. The NOAA ENSO Status Update provides an advance indication of how the forecast might change. There is a lag between the ENSO state and the impact on U.S. weather.  Thus the exact date when a fading La Nina meets the criteria for ENSO Neutral may not be very important in terms of the actual impact on Spring and Summer weather including the North American Monsoon (NAM).  But the possibility of a Triple Dip should be of considerable concern. We will learn what NOAA thinks next Thursday.

11Mar2022 Market Close & Major Financial Headlines: Markets Close Lower – DOW Down For The Fifth Week.

March 11, 2022Posted inmarketsNo Comments

Dow closed 0.7% down, S&P down 1.3%, NASDAQ down 2.2%, Bitcoin declined to 38,590, Gold declined to $1,984, and WTI crude up to $109.

None of this is good news for your investments or your pocketbook. Yesterday the Consumer Price Index showed inflation was up 7.9% year-over-year – and the cutoff date for the 7.9% figure was before the gasoline price spike resulting from the Russia-Ukraine War. The real inflation you are seeing is significantly higher than 7.9%.

The market is supposed to be forward looking – and it is signaling that there will be pain for business over the coming months,

And the current surge of pain has been caused by direct and indirect consequences of the Russia-Ukraine War. The U.S. continues to look for ways to further punish Russia, and President Biden is now concentrating on revoking Russia’s most favored nation trade status. The tea leaves are signaling things will be getting worse before we will begin to see improvement.

A summary of headlines we are reading today:

  • Russia’s Huge Oil Tanker Fleet Struggles To Find Buyer Destinations
  • Oil Prices Ease As U.S. Rig Count Jumps
  • 50 Minerals Critical To U.S. Security
  • Your 2019 leased car is now worth an average $7,200 more than expected.
  • U.S. clears way for truly driverless vehicles without steering wheels

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

closing bell