17June2022 Market Close & Major Financial Headlines: Wall Street Seesaws Through Friday’s Session And Closes In The Green, We’re Off This Monday For The Juneteenth Freedom Day Holiday

June 17, 2022Posted inmarketsNo Comments

Summary Of the Markets Today:

  • The Dow closed down 42 points or 0.14%,
  • Nasdaq closed up 1.43%,
  • S&P 500 closed up 0.21%,
  • WTI crude oil settled at $110, down 6.33%,
  • USD $104.80 up 1.00%,
  • Gold $1838 down 2.20%,
  • Bitcoin $20475 down 2.00% – Session Low 20232,
  • 10-year U.S. Treasury down 0.07% / 3.335%
  • Baker Hughes Rig Count: U.S. +7 to 740 Canada +15 to 156

Today’s Economic Releases:

Industrial Production grew 5.8% year-over-year in May 2022 – down slightly from last month’s 6.3% year-over-year growth. The manufacturing portion of industrial production growth likewise slowed.

The Philadelphia Fed’s Livingston Survey is published twice a year, in June and December – and is the oldest survey of economists’ expectations. The June 2022 survey forecasts a much lower rate of economic growth.

A summary of headlines we are reading today:

  • U.S. Drillers Add 7 Rigs Amid Oil Price Slide
  • SpaceX fires at least 5 employees over an internal letter criticizing CEO Elon Musk
  • Hawkish Fed Sparks Dow’s Worst Streak Ever; Crypto, Crude, & Credit Crushed
  • Kemp: White House Tries To Blame US Refiners For Its Own Overheating Error
  • Housing Crash Imminent: As Mortgage Rates Explode Price Cuts Soar And Buyer Demand Collapses

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

16June2022 Market Close & Major Financial Headlines: Wall Street Gapped Down Sharply At The Opening Bell And Traded In A Range-Bound Sideways Trend; The Dow Broke Below 30K As Recession Fears Hit Investors; U.S. Inflation Expected To Keep Running Hot

June 16, 2022Posted inmarketsNo Comments

Summary Of the Markets Today:

  • The Dow closed down 741 points or 2.42%,
  • Nasdaq closed down 4.08%,
  • S&P 500 closed down 3.25%,
  • WTI crude oil settled at $117, up 1.04%,
  • USD $103.61 down 1.18%,
  • Gold $1854 up 2.20%,
  • Bitcoin $20970 down 3.18% – Session Low 20800,
  • 10-year U.S. Treasury down 0.156% / 3.239%

Today’s Economic Releases:

For week ending 11 June 2022, the four week moving average for weekly unemployment insurance claims continues its modest growth.

New residential building permits and construction start growth for May 2022 continued to slow year-over-year. Permits show no growth whilst starts are slightly in contraction. New residential construction is not a good predictor of recessions – except that residential construction is normally in recession when a recession hits.

The Philadelphia Fed’s manufacturing survey for Jun 2022 is now in contraction – and this is the third consecutive month of decline.

A summary of headlines we are reading today:

  • Europe Follows U.S. Fed With Record-Breaking Rate Hikes
  • Airline stocks tumble as economic concerns overshadow travel surge
  • Cosmetics giant Revlon files for Chapter 11 bankruptcy protection
  • Environmental groups sue Biden to block 3,500 oil and gas drilling permits
  • Dow Dumps Below 30k As Huge OpEx Looms; Gold Gains, Greenback Gags
  • One Bank Throws Up All Over The Fed’s Latest Laughable Forecast
  • Market Extra: U.S. inflation expected to keep running hot: Traders see 4 straight months of roughly 9% or higher CPI readings

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