17Jan2022 Market Close & Major Financial Headlines: U.S. Markets Closed Today For Martin Luther King Jr. Day
Even though the markets were closed today, the usual financial headlines and news summaries follow.
14Jan2022 Market Close & Major Financial Headlines: Markets End The Week Mixed
Major economic releases today.
- Over the past year, import prices increased 10.4 percent and export prices advanced 14.7 percent.
- Advance estimates of U.S. retail and food services sales for December 2021 … were $626.8 billion, a decrease of 1.9 percent (±0.5 percent) from the previous month, but 16.9 percent (±0.9 percent) above December 2020.
- Industrial production declined 0.1 percent in December. Losses of 0.3 percent for manufacturing and 1.5 percent for utilities were mostly offset by a gain of 2.0 percent for mining.
The markets were mixed today with the DOW off 0.6%, NASDAQ up 0.6%, and the S&P up 0.1%. Bitcoin inched up to $43,150. WTI crude climbed to $83.90. Gold little changed at $1,824.
As usual, we have included below the headlines and news summaries moving the markets today.
NOAA Updates the Status of ENSO
Updated on January 14, 2022 by adding a graphic. 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 as La Nina Advisory, the forecast has been adjusted somewhat from last month. The earlier forecast was that we would transition to ENSO Neutral Status very soon. Now it looks like the La Nina will extend into Spring. The impact of that will show up next Thursday when NOAA issues their Seasonal Outlook. The NOAA ENSO Status Update provides an advance indication of how the forecast might change.
13Jan2022 Market Close & Major Financial Headlines: Biden Administration Blocked From Enforcing Vaccination Mandate For Large Private Companies
Markets today seem to be spooked by the continuing hawkish comments from the Federal Reserve members regarding rate hikes which normally negatively affect stock prices. During her confirmation hearing today, Fed Governor Lael Brainard stated:
The committee has projected several hikes over the course of the year. We will be in a position to do that, I think, as soon as asset purchases are terminated. And we will simply have to see what the data requires over the course of the year.
The markets closed lower today with the DOW off 0.5%, NASDAQ off 2.5%, and the S&P down 1.4%. Bitcoin declined to $42,760. WTI crude was down to $81.47. Gold was marginally up at $1,824.
As usual, we have included below the headlines and news summaries moving the markets today.
12Jan2022 Market Close & Major Financial Headlines: Inflation Grows to 7.0% But Markets Continue To Strengthen
The market marginally improved today even though the latest inflation data from the Consumer Price Index shows year-over-year inflation has increased to 7% – the fastest pace since 1982. From the BLS:
In December, the Consumer Price Index for All Urban Consumers rose 0.5 percent, seasonally adjusted, and rose 7.0 percent over the last 12 months, not seasonally adjusted. The index for all items less food and energy increased 0.6 percent in December (SA); up 5.5 percent over the year (NSA).
The DOW was up 0.1%, NASDAQ up 0.2%, and the S&P up 0.3%. Bitcoin improved to $43,670. WTI crude now up to $82.61. Gold also up at $1,816. The markets have been little affected by the record Omicron cases.
As usual, we have included below the headlines and news summaries moving the markets today.
Assessing the U.S. Climate in 2021
The National Centers of Environmental Information (NCEI) publishes a monthly analysis of the U.S. climate as well as an annual report. John Bateman, a meteorologist, and an NOAA Public Affairs specialist, sends out an email that summarizes the NCEI report. This article is based on the summary written by John Bateman. At the end of the article is the link to the full NCEI Report. The key takeaways: CONUS had the fourth warmest year in recent history and 20 billion-dollar disasters were identified.
11Jan2022 Market Close & Major Financial Headlines: Stocks Closed Solidly In The Green Today After Another Early Morning Dump, Dow Up 183 Points, NASDAQ Up 1.4%
However, all is not to be celebrated so soon as the markets reached a resistance of the Jan 6 and 7 sessions. Yesterday’s remarkable market reversal is being explained away by analysts, but tomorrow is going to be telling.
Powell’s testimony easing fears of an ultra-hawkish Fed may not be enough to ease investors’ fears.
Empty grocery shelves return as sick employees, supply chain delays collide. Retailers detail staffing shortages as omicron rages, but some investors see it as a short-term hit.
China Boosts Imports Of Cheap Oil From Sanctioned Iran And Venezuela. Oil Prices Jump Over 3% Ahead Of Inventory Data
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10Jan2022 Market Close & Major Financial Headlines: Markets Opened Down Over One Percent Recovering To A Mixed-Status, Dow Closed Down 163 Points, Nasdaq Closed Up Almost 0.1%, Dip-Buyers Rescue Tech-Wreck As Rate-Hike-Odds Soar
Renewables stocks are plunging, and Libyas crude exports slump as bad weather shuts four oil ports. In addition, U.S. emissions jumped in 2021 as coal power generation surged. Although stocks rebound off the worst levels of the day, NASDAQ is still down about 1% as it entered correction territory amid a broader market retreat.
CNBC ProNasdaq’s NASDAQ chart sends a warning signal, but analysts see an opportunity in the breakdown. Nasdaq slumps into correction territory after a painful start to 2022. Bitcoin briefly tumbles below $40,000 to the lowest since September as stocks slide, tech shares renew declines as Treasury yields advance.
Lululemon shares fall after the retailer sees fourth-quarter earnings, sales hurt due to omicron. Jamie Dimon one-ups Goldman: Says he would be “surprised” with just four rate-hikes. Buy the dip, says JPMorgan. ‘Markets can handle higher yields.’
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COVID-19: What We Learned from a Recent New Mexico Press Conference
On January 5. 2022 the New Mexico Department of Health held its weekly press conference. That press conference reinforces my belief that it is difficult to figure out what is going on with COVID-19 and all its variants. It is not clear to me that what is going on is part of any coherent plan. I will discuss all of this in the body of this article. For those who want to know more about the presentation, I have provided some links at the end of this article.
07Jan2022 Market Close & Major Financial Headlines: DOW Slips To Neutral During Final Hour Off Five Points, NASDAQ Down 1.0 Percent And Heads For A Losing Week To Start 2022 On Spiking Rates
Wall Street mostly stagnate, choppy trading sideways after the Wednesday selloff. DOW traded in positive territory for most of the day as other U.S. stock indexes declined after Friday’s jobs report. Investors appear to be starting the year with an aversion to long-duration stocks and instead are leaning into Value stocks with closer ties to economic recovery.
Geopolitics And Production Problems Push Oil Prices Higher as U.S. Rig Count rise. The number of active drilling rigs in the United States rose by two this week, keeping the total rig count at 588. As a result, oil prices remain strong despite the fresh wave of Covid-19 cases brought by the new variant of the coronavirus amid several oil disruptions around the globe, including in Libya, Ecuador, and Kazahkstan.
Virgin Orbit stock pops more than 20% as Branson’s company shows off its rocket in Times Square. In other news, Bed Bath & Beyond is closing more stores in 2022. Liquidation sales have kicked off at 37 Bed Bath & Beyond locations in the United States, and the stores expect to be padlocked by the end of February.
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