Summary Of the Markets Today:

• The Dow closed down 158 points or 0.42%,
• Nasdaq closed up 0.09%,
• S&P 500 closed down 0.15%,
• Gold $2,036 up $2.00,
• WTI crude oil settled at $72 up $1.39,
• 10-year U.S. Treasury 4,015% up 0.013 points,
• USD index $102.54 up $0.33,
• Bitcoin $46,716 down $50 (0.03%),

*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 NFIB Small Business Optimism Index increased 1.3 points in December to 91.9, marking the 24^th consecutive month below the 50-year average of 98. Twenty-three percent of small business owners reported that inflation was their single most important problem in operating their business, up one point from last month, and replacing labor quality as the top concern. NFIB Chief Economist Bill Dunkelberg stated:

Small business owners remain very pessimistic about economic prospects this year. Inflation and labor quality have consistently been a tough complication for small business owners, and they are not convinced that it will get better in 2024.

• Scientists Present New Solid-State Lithium Battery That Lasts 6000 Cycles
• Big Three Automakers Rebound After Turbulent 2023
• China Sanctions 5 U.S. Defense Firms Ahead of Taiwan Election
• Azerbaijan Doubles Down on Its Domestic Oil Potential
• France Moves Away from Renewable Targets in Favor of Nuclear Power
• S&P 500 closes slightly lower as stocks’ early 2024 struggles linger: Live updates
• Defense Secretary Lloyd Austin treated for prostate cancer, severe infection: Pentagon
• Global economy set for its worst half-decade of growth in 30 years, World Bank says
• Bitcoin hovers at 21-month high ahead of imminent spot ETF decision by SEC: CNBC Crypto World
• tocks making the biggest moves midday: Unity Software, JetBlue, Juniper Networks and more
• Mortgages: Barclays and Santander cut rates as competition intensifies
• Dow snaps three-day winning streak as market awaits inflation data, earnings

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

Summary Of the Markets Today:

• The Dow closed up 217 points or 0.58%,
• Nasdaq closed up 2.20%,
• S&P 500 closed up 1.41%,
• Gold $2,033 down $16.80,
• WTI crude oil settled at $71 down $2.75,
• 10-year U.S. Treasury 4,006% down 0.036 points,
• USD index $102.25 down $0.16,
• Bitcoin $46,813 up $2,655 (6.01%),

*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:

According to the Federal Reserve, in November 2023 total consumer credit increased at a seasonally adjusted annual rate of 5.7% with revolving credit increased at an annual rate of 17.7% and nonrevolving credit increased at an annual rate of 1.5%. Using my preferred year-over-year analysis – total consumer credit increased by 2.8% (blue line on the graph below and 1.4% inflation-adjusted red line on the graph below). This credit expansion is low for times of economic growth. Non-revolving credit is mostly student and personal loans – and is barely growing year-over-year whilst revolving credit (say credit cards) is growing 9.6% year-over-year (but slowly moderating).

• 3 Catalysts That Could Push Gold Prices Even Higher
• Equinor Sells Off Azerbaijan Oil Assets
• Iran’s Dark Fleet: The High Cost of Clandestine Oil Exports
• Affordability Crisis Weigh on Automobile Sector
• Traders Most Bearish on Oil Since March 2023
• Oil Prices Slump by 4% As Demand Concerns Trump Supply Risks
• United Airlines inspections find loose bolts on several Boeing 737 Max 9 aircraft after grounding
• Nasdaq Composite closes 2% higher Monday as tech stocks’ revival lifts major averages: Live updates
• Mortgage rate decline pulls buyers back into the housing market
• Bitcoin touches highest level in nearly two years as deadline for spot ETFs looms: CNBC Crypto World
• Consumer Credit Shocker: November Debt Soars After Second Biggest Surge In Credit Card Debt On Record
• Dow ends higher with third day of gains, as bond yields pull back

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

Summary Of the Markets Today:

• The Dow closed up 26 points or 0.07%,
• Nasdaq closed up 0.09%,
• S&P 500 closed up 0.18%,
• Gold $2052 up $1.80,
• WTI crude oil settled at $74 up $1.68,
• 10-year U.S. Treasury 4.044% up 0.053 points,
• USD index $102.47 up $0.05,
• Bitcoin $43,747 down $707 (1.50%),
• Baker Hughes Rig Count: U.S. -1 to 621 Canada +39 to 125

*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:

Total nonfarm payroll employment increased by 216,000 in December 2023, and the unemployment rate was unchanged at 3.7 percent. The headline numbers are stronger than expected and show decent growth. Employment continued to trend up in government, health care, social assistance, and construction, while transportation and warehousing lost jobs. Interestingly, the household survey showed a decline in the employed of 683,000 whilst the headline establishment survey increased 216,000 – this is a huge difference casting doubt on the validity of the headline numbers. In all events, the rate of growth year-over-year of employment continues to decline.

In December 2023, the ISM Services PMI registered 50.6 percent, 2.1 percentage points lower than November’s reading of 52.7 percent. A reading above 50 percent indicates the services sector economy is generally expanding; below 50 percent indicates it is generally contracting – the bottom line is that this index is saying the economy is barely growing.

• Europe’s Natural Gas and Power Prices Jump as Cold Snap Begins
• U.S. Drilling Continues to Slow
• India Slashes Financial Support for State Oil Refiners’ Green Goals
• Retaliation Looms After Iran Bombings
• Eli Lilly’s direct drug sales alone may not upend the industry, but others could follow suit
• Apple shares slip on report U.S. government preparing antitrust lawsuit
• S&P 500 closes slightly higher Friday, but major averages end 9-week win streak: Live updates
• Wall Street heads into the week ahead on edge as inflation and earnings data loom
• Bitcoin dips 1.5% ahead of next week’s expected decision on spot ETF: CNBC Crypto World
• U.S. payrolls increased by 216,000 in December, much better than expected
• US Bankruptcies Jump 18% In 2023 Amid High Interest Rates
• The S&P 500’s first five trading days may indicate full-year performance. That doesn’t bode well for stocks in 2024.

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