16 Jan 2023 Market Close & Major Financial Headlines: Markets Opened Lower, Nasdaq Saw Green Once, Dow Dropped Over 300 Points, Finally Closing Moderately Down In The Red

January 16, 2024Posted inmarketsNo Comments

Summary Of the Markets Today:

  • The Dow closed down 232 points or 0.62%,
  • Nasdaq closed down 0.19%,
  • S&P 500 closed down 0.37%,
  • Gold $2,032 down $19.50,
  • WTI crude oil settled at $72 down $0.68,
  • 10-year U.S. Treasury 4.068% up 0.116 points,
  • USD index $103.36 up $0.96,
  • Bitcoin $43,236 up $346 (0.81%),

*Stock data, cryptocurrency, and commodity prices at the market closing.

Click here to read our current Economic Forecast – January 2024 Economic Forecast: Our Index Turns Slightly Negative

Today’s Economic Releases Compiled by Steven Hansen, Publisher:

CoreLogic Single-Family Rent Index (SFRI) shows national single-family rent growth remained stable in November 2023. As in the past few months, rental demand is picking up in pricier coastal areas of the U.S., with the Boston, New York, San Diego, and San Francisco metros all ranking in the top five for annual gains in November. Molly Boesel, principal economist for CoreLogic stated:

More than three years of increasing U.S. single-family rents and the rising costs of other goods have made many renters sensitive to the cost of living. Many renters are renewing their current leases, and others who are moving are seeking lower-priced alternatives.

The January 2024 Empire State Manufacturing Survey shows the headline general business conditions index fell twenty-nine points to -43.7, its lowest reading since May 2020. New orders and shipments also posted sharp declines. Unfilled orders continued to shrink significantly, and delivery times continued to shorten. Inventories edged lower. Employment and the average workweek declined modestly. Even though I am not a fan of surveys, this one is extremely recessionary. Manufacturing as a sector has been in recession for over one year.

 

Here is a summary of headlines we are reading today:

  • The World’s Top 50 Power-Hungry Data Center Markets
  • North Dakota Oil Output Down Up to 650,000 BPD in Severe Storm
  • Navy SEALs Seize Vessel with Iranian Missile Parts Bound for Houthis
  • Shell To Sell its Onshore Oil Business in Nigeria
  • Shell Halts All Red Sea Shipments as Tensions Rise
  • Qatar Halts Red Sea LNG Shipments As Regional Tensions Escalate
  • Dow closes more than 200 points lower Tuesday after 10-year Treasury yield tops 4%: Live updates
  • AMD shares jump 7% and head for highest close since 2021 on AI chip demand
  • UBS raises S&P 500 target for 2024, sees nearly 8% gain from here
  • Hush Money: JP Morgan Pays $18 Million Fine For Violating Whistleblower Protection Rules
  • No rate cuts in 2024? Why investors should think about the ‘unthinkable.’

Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.

Short Term and Intermediate-Term Weather Outlooks for the U.S. and a Six-Day Forecast for the World: posted January 16, 2024

January 16, 2024Posted inweatherNo Comments

This article focuses on what we are paying attention to in the next 48 to 72 hours. The article also includes weather maps for longer-term U.S. outlooks and a six-day World weather outlook which can be very useful for travelers.

First the highlights from the NWS.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Tue Jan 16 2024
Valid 12Z Tue Jan 16 2024 – 12Z Thu Jan 18 2024

…Snow continues across the Mid Atlantic and Northeast…

…Additional freezing rain and elevation snowfall expected over the
Pacific Northwest…

…Brief reprieve from the brutal cold after this morning; another Arctic
blast expected late this week…

Please click on “Read More” below to access the full report issued today.

15 Jan 2023 Market Close & Major Financial Headlines: Markets Closed For MLK Holiday, Little Changed For Commodities Markets

January 15, 2024Posted inmarketsNo Comments

Markets Closed Today – Martin Luther King Day:

      Commodities As Of 4 PM EST

  • Gold $2,059 up $7.40,
  • WTI crude oil settled at $73 down $0.18,
  • 10-year U.S. Treasury 3.939% down 0.036 points,
  • USD index $102.58 up $0.18,
  • Bitcoin $42,895 up $330 (0.95%),

*Stock data, cryptocurrency, and commodity prices at the market closing.

Click here to read our current Economic Forecast – January 2024 Economic Forecast: Our Index Turns Slightly Negative

Today’s Economic Releases Compiled by Steven Hansen, Publisher:

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Here is a summary of headlines we are reading today:

  • Prices at American Pumps Tick Higher Amid Volatility
  • Why The U.S. is Suddenly Expanding its Claims on Ocean Seabeds
  • Houthis Strike U.S. Merchant Vessel After Targeting Warship
  • Texans Asked to Conserve Energy as Deep Freeze Strains Grid
  • Poland Plans End Date for Coal Power Phase-Out
  • 10 years in, GM CEO Mary Barra has built her legacy on change and crisis. 2024 will bring new tests
  • Inflation is still a mixed bag, but markets don’t care. They see big Fed rate cuts ahead
  • 42-year-old brings in more than $1 million a year from newsletter, podcast: ‘My advice is just stop tweeting and do the work’
  • Death, ‘Disease X’, & “Rebuilding Trust” With The Denizens Of Davos
  • Why Donald Trump is unlikely to get his wish for a 2024 U.S. stock-market crash

Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.

Looking back at 2023 Weather for the World -Posted on January 15, 2024

January 15, 2024Posted inweatherNo Comments

Most of the information in this report comes from the monthly email I receive from John Bateman. He does public outreach for NOAA and in particular NCEI. I could find the same information and more on the NCEI website but John produces a good summary so I use it or most of it. I also sometimes add additional information from NCEI or other NOAA websites. The full NCEI report for 2023 can be accessed HERE.

 

 

 

I added the below to what John Bateman provided.

 

2023 was a busy year

 

This is the temperature trend for the world: land and water. There was a big increase in 2923.

 

This is also land and water [corrected previous error) and it is by month and it shows the ENSO state of each month. You can really see that the temperature goes up with the El Nino phase and down with La Nina. It has to do with the releases and absorption of heat by the oceans during the different ENSO Phases. A main reason for that is simple. During La Nina the strong Easterlies along the Pacific skim off the warm surface water is forced into the IndoPacific Warm Pool where it covers a smaller area. When the Easterlies relax during an El Nino the warm water spreads out so the Ocean Surface is warmer. There are other factors also.

 

 

This is just land Globally. It also increased in 2023 but not as much as when including both land and water.

This is for the year but just North America which in not just the U.S. but includes the U.S.   2023 seemed to match but not beat a year about seven years earlier.

 

 

This is December only for North America which includes the U.S. but more than the U.S..  2023 saw a big increase.

This is just the U.S. for December and we have shown this before but you can see that the increase here is less than for North America probably because it does not include Alaska.  I did not include enough graphs to make it easy to figure out but Northern Hemisphere has warmed more than the Southern Hemisphere. It probably has to do with the higher ratio of land to water in the Northern Hemisphere.  When water warms it is not just at the surface so the impact of Global Warming on the surface of water is less than the impact on the surface of land.
Now we will go back to the information in the Bateman email and some readers will have to click on Read More to see the rest of this article.

Short Term and Intermediate-Term Weather Outlooks for the U.S. and a Six-Day Forecast for the World: posted January 15, 2024

January 15, 2024Posted inweatherNo Comments

This article focuses on what we are paying attention to in the next 48 to 72 hours. The article also includes weather maps for longer-term U.S. outlooks and a six-day World weather outlook which can be very useful for travelers.

First the highlights from the NWS.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Mon Jan 15 2024
Valid 12Z Mon Jan 15 2024 – 12Z Wed Jan 17 2024

…Dangerously cold temperatures continue across much of the U.S…

…Snow and freezing rain continue over the Southern U.S today, spread
into the Mid-Atlantic …

…Heavy lake effect snowfall continues…

Please click on “Read More” below to access the full report issued today.

Select Short Term and IntermShort Term and Intermediate-Term Weather Outlooks for the U.S. and a Six-Day Forecast for the World: posted January 14, 2024

January 14, 2024Posted inweatherNo Comments

This article focuses on what we are paying attention to in the next 48 to 72 hours. The article also includes weather maps for longer-term U.S. outlooks and a six-day World weather outlook which can be very useful for travelers.

First the highlights from the NWS.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Sun Jan 14 2024
Valid 12Z Sun Jan 14 2024 – 12Z Tue Jan 16 2024

…Dangerous cold temperatures to persist across much of the U.S…

…Significant, impactful wintry precipitation to develop over the
Mid-South later today…

…Significant wintry weather winding down over the Pacific Northwest and
Great Basin…

Please click on “Read More” below to access the full report issued today.

Western Drought Update Posted on January 13, 2024

January 13, 2024Posted inweatherNo Comments

There is a succession of presentations by NOAA on a variety of subjects one of which is drought.  In many cases, the tape of the presentation including the question and answer portion is made available HERE. This one does not seem to have been posted yet but I obtained the graphics from the author. So there is no audio. Any comments in comment boxes are by me and will mostly be explanations that would otherwise be in the audio. The visual quality in the graphics is far better in this article than it would be in the tape of a webinar.

I selected this talk to present because I thought the author was unusually good at addressing multiple pieces of information in a single slide.

I know that I have to start reporting on other parts of the U.S. but the West seemed to be the most impacted early in this El Nino. That is changing so I will be reporting on other parts of the U.S. Each of these articles takes a lot of time for me to prepare.  They are all good but this one is extra good.

 

 

Some readers will have to click on”Read More” to read the full article.

Short Term and Intermediate-Term Weather Outlooks for the U.S. and a Six-Day Forecast for the World: posted January 13, 2024

January 13, 2024Posted inweatherNo Comments

This article focuses on what we are paying attention to in the next 48 to 72 hours. The article also includes weather maps for longer-term U.S. outlooks and a six-day World weather outlook which can be very useful for travelers.

First the highlights from the NWS.

Short Range Forecast Discussion
NWS Weather Prediction Center College Park MD
Sat Jan 13 2024
Valid 12Z Sat Jan 13 2024 – 12Z Mon Jan 15 2024

…Major winter storm continues with significant impacts over the eastern
half of the U.S; more heavy rain in the Northeast through this morning…

…Significant Arctic cold and dangerous wind chills expected through
midweek; some snow and ice possible over the Mid-South…

…Heavy rainfall to return to the West Coast this morning…

Please click on “Read More” below to access the full report issued today.

12 Jan 2023 Market Close & Major Financial Headlines: The Dow Set Another New Historic High After The Opening Bell Followed By Another Precipitous Slide Into The Red; What’s Going On?

January 12, 2024Posted inmarketsNo Comments

Summary Of the Markets Today:

  • The Dow closed down 118 points or 0.31%,
  • Nasdaq closed up 0.02%,
  • S&P 500 closed up 0.08%,
  • Gold $2,051 up $31.90,
  • WTI crude oil settled at $73 up $0.78,
  • 10-year U.S. Treasury 3.952% down 0.021 points,
  • USD index $102.44 up $0.15,
  • Bitcoin $43,656 down $2,538 (5.55%),
  • Baker Hughes Rig Count: U.S. -2 to 619 Canada +88 to 213

*Stock data, cryptocurrency, and commodity prices at the market closing.

Click here to read our current Economic Forecast – January 2024 Economic Forecast: Our Index Turns Slightly Negative

Today’s Economic Releases Compiled by Steven Hansen, Publisher:

The Producer Price Index (PPI) for final demand in December 2023 rose 2.5% year-over-year – up from last month’s 2.4% year-over-year (blue line on the graph below). The PPI component services decreased in December relative to November but the price of goods increased. Overall in 2023, movements in the PPI have correlated with the Consumer Price Index (CPI). Both the CPI and PPI have stopped declining over the past months which begs the question of whether the Federal Reserve will be forced to raise the Federal Funds rate in the near future.

Here is a summary of headlines we are reading today:

  • Kazakhstan Quadruples Grain Exports to China
  • TotalEnergies Port Arthur Refinery Shuts Crude Units on Malfunction
  • World’s Largest Uranium Miner Will Miss Production Targets
  • Trans Mountain Pipeline Faces Two-Year Delay Without Route Change
  • Tesla to Pause Production at Berlin Factory Due to Supply Chain Problems
  • Why the Short Term Outlook for Oil Remains Bearish
  • Deflation: Here’s where prices fell in December 2023, in one chart
  • Airline stocks tumble after Delta trims profit forecast
  • This closely watched recession signal is shifting for reasons unrelated to economic-growth prospects, strategist says
  • Bitcoin ETFs are live. Watch for the next most popular crypto to go same route

Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.