WEEKEND WRAP: With Trump China Visit Imminent, Stocks Do Not Pause with Tech Titans Leading the Way; Gold and Silver Marked Higher; Oil Stuck in $90-$110 Range

More of the same in the week ending Friday, May 8.

Iran and the U.S. continue a standoff in the Middle East, neither side having made any reasonable concessions on an overall peace plan. Military assets in the region are plentiful, with the U.S. and Iran each shoring up offensive and defensive capabilities.

Stocks continued to rise overall, with the Magnificent 7 and chip stocks producing outsized gains. The NASDAQ composite index is up nearly 13% year-to-date. Significantly, the NASDAQ has gained more than 5,400 points, from 20,794.64 on April 30, to 26,247.08 at the close of trading May 8, a 26% rise.

The remarkable returns for speculative tech stocks, albeit during a period of geo-political turmoil, have startled the investing community and bring into question overall market structure and general stability. While naysayers question the wisdom of pricing stocks to perfection under any circumstances, nobody on the bullish side has shown any compulsion to take profits nor deny the extravagance of the current rally.

No matter the circumstances surrounding the incredible recent returns, it is undeniably one of the most opportunistic periods in stock market history, with institutional money leading and retail flows accelerating.

There appears to be no fear and no stoping the powerful rally. Prospects for peace in the Middle East continue to fuel optimism. Oil prices have been fluctuating between $90 and $110 for WTI crude oil, though high gas prices - above a national average of $4.50 in the U.S. - threaten long term viability of sustaining expensive oil. A solution, which may be on the horizon with President Trump's planned trip to China beginning May 14, could come in less than two weeks time. Pessimism is anchored in the continuation of the conflict and the doupoly of Iran's hold of the Strait of Hormuz and the U.S. naval blockade in the Gulf region and into the Indian Ocean.

The week ahead could provide a breakthrough, though considering the U.S. military posture and Trump's hard-line attitude toward China, prospects are likely tempered that a lasting solution will be found within such a short period. Rather than seeking diplomatic solutions, Trump appears to be leaning more towards a "peace through strength" posture, which would nix any worthwhile agreement between the major global players, including China, Russia, the EU, and, to a lesser extent, India, which sits at the nexus of oil shipping lanes and need for continued importation of crude.

Stocks

The Shiller PE ratio (CAPE) stood at 42.05 (41.06 last week) at the close of trading Friday, a level second only to 44.19 reached at the peak of the dotcom spike in December 1999. The financial apparatus supporting such extremes is well aware of the incredible gap between price and value and will continue the crusade to ever more unsustainable levels. The game goes on. The financialization of the economy is nearly complete; the welfare/warfare state in control.

For those still drooling at the font of fiat, the week ahead will not offer much in terms of earnings reports, as the flow has slowed considerably over the past few weeks, most of the major companies having already posted first quarter results.

Monday: (before open) Barrick (B), Village Farms (VFF); (after close) hims|hers (HIMS), GoPro (GPRO)

Tuesday: (before open) First Majestic (AG), JD.com (JD); (after close) Karman Space & Defense (KRMN), Next Power (NXT)

Wednesday: (before open) Alibaba (BABA), Wix (WIX), eos (EOSE); (after close) Cisco (CSCO), Enovix (ENVX)

Thursday: (before open) Intuitive Machines (LUNR), Klarna (KLAR, Viking Cruise Lines (VIK), Yeti (YETI); (after close) Applied Materials (AMAT), Rumble (RUM)

Friday: (before open) Alaska Airlines (ALK), Suncrete (RMIX), PAVmed (PAVM), ARS Pharma (SPRY)

Outside of Trump's China visit, some of the more worthwhile data indicators include Tuesday's April CPI report from the BLS, expected to reflect the rising price of gas at the pump, and thus, inflation at the retail level. Leading off the week is the monthly report on existing home sales. PPI follows Tuesday's CPI numbers on Wednesday along with EIA crude oil and distillates weekly report. Thursday will feature unemployment claims and Import/Export prices prior to the open. Friday offers Capacity Utilization and Industrial Production figures for April. More from Trading View.

The question is not whether stocks will continue to rally, but how high they will go. The NASDAQ has slingshotted into the future with the S&P, and especially the Dow, lagging.

Treasury Yield Curve Rates

Date	1 Mo	1.5 mo	2 Mo	3 Mo	4 Mo	6 Mo	1 Yr
04/03/2026	3.71	3.73	3.73	3.71	3.71	3.73	3.72
04/10/2026	3.67	3.69	3.70	3.69	3.69	3.72	3.70
04/17/2026	3.69	3.70	3.73	3.70	3.69	3.69	3.64
04/24/2026	3.69	3.72	3.71	3.69	3.69	3.71	3.67
05/01/2026	3.71	3.71	3.70	3.68	3.76	3.71	3.73
05/08/2026	3.71	3.70	3.68	3.69	3.75	3.74	3.75

Date	2 Yr	3 Yr	5 Yr	7 Yr	10 Yr	20 Yr	30 Yr
04/03/2026	3.84	3.88	3.99	4.17	4.35	4.91	4.91
04/10/2026	3.81	3.80	3.94	4.12	4.31	4.89	4.91
04/17/2026	3.71	3.72	3.84	4.04	4.26	4.85	4.88
04/24/2026	3.78	3.80	3.92	4.10	4.31	4.88	4.91
05/01/2026	3.88	3.91	4.02	4.20	4.39	4.96	4.97
05/08/2026	3.90	3.92	4.02	4.19	4.38	4.93	4.95

Nothing much is happening in the treasury market except for the 30-year yield continuing to touch recent highs and threaten the five percent level. The Fed is doing its best to keep it below the 5% threshold. There shouldn't be much in the way of disruption in capital markets until Kevin Warsh is installed as the new Chairman of the Federal Reserve. A full Senate vote is slated for Monday, May 11. Jerome Powell's term ends May 15. Procedural delays could still confuse matters, but Warsh is likely to receive the necessary votes to move forward.

Spreads:

2s-10s
2026
1/2: +72
1/9: +64
1/16: +65
1/23: +64
1/30: +74
2/6: +72
2/13: +64
2/20: +60
2/27: +59
3/6: +59
3/13: +55
3/20: +51
3/27: +56
4/3: +51
4/10: +50
4/17: +55
4/24: +53
5/1: +51
5/8: +48

Full Spectrum (30-days - 30-years)
2026
1/2: +114
1/9: +112
1/16: +108
1/23: +104
1/30: +115
2/6: +113
2/13: +97
2/20: +100
2/27: +90
3/6: +102
3/13: +115
3/20: +123
3/27: +124
4/3: +120
4/10: +124
4/17: +119
4/24: +122
5/1: +126
5/8: +124

Oil/Gas

WTI Crude Oil finished the week in New York at $94.68, down substantially from last Friday’s New York closing price of $102.50.

President Trump's China visit late in the week (May 14) is likely to have some significance in terms of oil and gas pricing. With anticipation for a breakthrough in the Middle East high, there is still a good deal of tension in the region and among larger players. The China visit may trigger a framework peace proposal, but tactics - especially those employed by the usually-intractable Trump - may keep the situation in the same on-and-off kind of flow.

Average price for a gallon of unleaded regular gasoline in the U.S. was $4.45 last week and $4.50 this week. Americans are trying to keep their cool over high gas prices, but a resolution to the war nobody wanted would go a long way to restore confidence. President Trump seems not to care much about suffering consumers. He continues to suggest that gas prices will come down, "like a rock" being his most commonly-used metaphor. He's losing ground, however. Impatient people polled Trump at just below 40% approval on the economy and foreign policy in recent polls.

Prices in key states:

California (leader): $6.14 (+0.04)
Washington: $5.76 (+0.10)
Oklahoma (lowest): $3.92 (+0.07)
Florida: $3.42 (+0.08)
Illinois: $4.96 (+0.03)
Pennsylvania: $4.67 (+0.15)
New York: $4.55 (+0.12)
Maryland: $4.46 (+0.20)
Michigan: $4.71 (-0.16)
Texas: $4.03 (+0.14)
Georgia: $4.03 (+0.20)

On Sunday, May 10th, there are just four (4) states with average prices below $4.00, down from 12 last week, and 44 above the $4 threshold, not including Hawaii ($5.63) and Alaska ($4.26), four above $5 (California, Nevada, Washington, Oregon), and one above $6 (California). The Midwest and Southeast have equalized over the past three weeks as the lowest-priced regions, with prices averaging roughly the same in states like South Dakota, Iowa and Kansas as compared to Tennessee, Georgia and Mississippi.

Bitcoin

This week: $80,800.68
Last week: $78,694.80
2 weeks ago: $77,941.15
6 months ago: $106,146.80
One year ago: $103,161.70
Five years ago: $46,725.23

Crypto is absolute trash, held mostly by whales, governments or ridiculous companies like Strategy (MSTR). It has not yet occurred to most "hodlers" that imaginary currencies are not even as useful as fiat. They live in a dream world.

Precious Metals

Gold:Silver Ratio: 58.68; last week: 61.23

Futures, per COMEX continuous contracts:

Gold price 4/10: $4,771.00
Gold price 4/17: $4,849.40
Gold price 4/24: $4,725.40
Gold price 5/1: $4,625.60
Gold price 5/8: $4,723.70

Silver price 4/10: $76.03
Silver price 4/17: $81.58
Silver price 4/24: $76.19
Silver price 5/1: $75.84
Silver price 5/8: $80.83

SPOT:
(stockcharts.com)
Gold 4/10: $4,751.68
Gold 4/17: $4,833.56
Gold 4/24: $4,709.27
Gold 5/1: $4,612.97
Gold 5/8: $4,714.90

Silver 4/10: $75.95
Silver: 4/17: $80.75
Silver 4/24: $75.63
Silver 5/1: $75.34
Silver 5/8: $80.35

Solid week for both metals, with silver close to a breakout at any close above $80.75 in New York. This Friday's figure of $80.35 has it in range. Silver will continue to out-perform gold short term, though both appear to be headed higher with summer months generally positive for precious metals.

Here are the most recent prices for common one ounce gold and silver items sold on eBay (free shipping included, numismatics excluded):

Item/Price	Low	High	Average	Median
1 oz silver coin:	79.96	99.99	87.99	85.80
1 oz silver bar:	84.00	104.50	91.93	88.98
1 oz gold coin:	4763.35	4961.00	4886.32	4909.00
1 oz gold bar:	4908.35	4971.00	4929.29	4919.83

The Single Ounce Silver Market Price Benchmark (SOSMPB) rose modestly, to $88.67, a gain of $2.44 from the May 3 price of $86.23 per troy ounce.

WEEKEND WRAP

Big gains on the NASDAQ are nothing new. Speculators crowd into tech names with regularity and generally are able to ride stock gains to fresh all-time highs before bailing. With so much experience backing their trades, there is as of yet no trigger for the eventual pullback. Markets have become dominated by heavy institutional flows, insider trades, and political leanings. It's not supposed to be that way, but traders have long ago given up on fundamentals as a price determinant and rely more on flows and momentum to time out trades in various sectors. Precious metals have experienced a paradigm shift recently, correlating with stocks in general and the S&P in particular.

Interesting times. A Chinese curse and a Westerized hope. Not a strategy.

At the Close, Friday, May 8, 2026
Dow: 49,609.16, +12.19 (+0.02%)
NASDAQ: 26,247.08, +440.88 (+1.71%)
S&P 500: 7,398.93, +61.82 (+0.84%)
NYSE Composite: 22,942.15, -69.16 (-0.30%)

For the Week:
Dow: +109.89 (+0.22%)
NASDAQ: +1132.64 (+4.51%)
S&P 500: +168.81 (+2.33%)
NYSE Composite: -99.00 (-0.43%)
Dow Transports: -399.46 (-1.94%)

Disclaimer: Information disseminated on this site should not be construed as investment advice. Downtown Magazine Inc., Money Daily and it's owners, affiliates and/or employees are not investment advisors and do not offer specific investment advice. All investments have risk. You should consult a professional investment advisor or stock broker or use your individual judgement when making investment decisions. By viewing this site, you hold harmless Downtown Magazine Inc., Money Daily, its owners, affiliates and employees against any and all liability. Copyright 2026, Downtown Magazine Inc., all rights reserved.

April Non-Farm Payrolls: +115,000; Middle East Hostilities Escalate; Stocks Seek Another Week of Gains

As if it mattered amid the turmoil in the Middle East and the price of gas in the U.S. and Europe, Wall Street will briefly turn its attention to the regularly-overstated and ultimately revised lower Non-farm Payroll report issued by the Bureau of Labor Statistics for April.

As such, at 8:30 am ET, the BLS snet forth, in part, the news:

Total nonfarm payroll employment edged up by 115,000 in April, and the unemployment rate was unchanged at 4.3 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care, transportation and warehousing, and retail trade. Federal government employment continued to decline.

and...

The change in total nonfarm payroll employment for February was revised down by 23,000, from -133,000 to -156,000, and the change for March was revised up by 7,000, from +178,000 to +185,000. With these revisions, employment in February and March combined is 16,000 lower than previously reported.

Just dandy.

Stock futures, which were already geared up in a positive ramp, added more upside. Just before 9:00 am ET, Dow futures were ahead by 240 points, NASDAQ futures gained 245, and S&P futures added 45 points.

Likewise, precious metals were bid, with gold as high as $4,723.00 and silver arcing above $81 per ounce.

Meanwhile, the fog of war remained cloudy and thick with rhetoric as hostilities between the U.S. and Iran escalated to a near boiling point. Iran seized an oil tanker in the Gulf of Oman. Three U.S. destroyers transited out of the Strait of Hormuz under heavy fire from Iranian defenses. According to President Trump, none of the U.S. ships suffered damage, retaliating against Iranian launch sites in the region.

Iran has charged the U.S. with violating the ceasefire; the U.S. denies Iran's claims. No matter the case, both sides have been actively deploying various weapons on the ground and in the waters off Iran's coast. The situation has become intensified with jets, drones, missiles, and ordnance producing explosions and damage, especially in the UAE, which has joined forces with Israel and the United States.

If there's a ceasefire at all, it appears to be under stress as both sides continue efforts to open or close down shipping lanes and employ defensive and offensive measures on limited targets. Israeli forces remain bogged down in southern Lebanon and have been eerily quiet of late. The situation remains, to say the least, fluid.

Oil prices have risen. WTI crude oil futures are trading in a range of $95-97.

Through Thursday's close, the Dow is up 97 points for the week, NASDAQ is 691, and the S&P is ahead by 107.

Friday's session looks to be as volatile as those preceding it this week and stocks could go either way, depending on how Middle East developments are perceived by trades and speculators. Considering how stocks have been trading since the star of the Iran war, now more than two months deep, the choice to stay long or short over the weekend is likely to be a major consideration.

At the Close, Thursday, May 7, 2026:
Dow: 49,596.97, -313.62 (-0.63%)
NASDAQ: 25,806.20, -32.75 (-0.13%)
S&P 500: 7,337.11, -28.01 (-0.38%)
NYSE Composite: 23,011.31, -273.08 (-1.17%)

Sick Medical System: Nearly Half of Americans Have High Blood Pressure or Diabetes or Both, Due to Roving Benchmarks; Oil Lower, Gold, Silver, Stocks are Up

Editor's Note: I recently had interaction with the medical community, something I've managed to avoid most of my 72 years on planet earth. While this time it turned out that I did need some medical attention, the condition is already being resolved, thanks to a realistic, savvy doctor at my clinic and no thanks to doctors at the local hospital. My interaction opened my eyes about the U.S. medical complex, Big Pharma firms, and hospital practices that routinely defraud patients, insurance providers and the government. I'll likely be sounding off about American medicine practices more often in this space. -- Fearless Rick

How is this even possible?

Nearly half of U.S. adults today have high blood pressure (48.1%, 119.9 million). This is defined as a systolic blood pressure greater than 130 mm Hg or a diastolic blood pressure greater than 80 mm Hg or are taking medication for high blood pressure.

Either half of the U.S. adult population is sick or the medical community has changed their methodology and benchmarks. It's the latter, and there's proof. Get together with a few friends. Look around. Which half of your group suffers from hypertension. According to rational analysis, in a group of 10 adults aged 25-65, less than three of them would be categorized as "ill."

High blood pressure, or, more accurately, stage 2 hypertension is commonly defined as a life-threatening condition. If you're one of those people who believe what doctors funded by Phizer, Merck, Bristol Myers Squibb, Ely Lilly or other pharmaceutical producers tell you, you're almost certain to become sicker and poorer taking their medicines.

Historical Blood Pressure Standards

According to a co-pilot AI search, During the 1960s, physicians often tolerated higher blood pressure readings than today. A reading that modern medicine classifies as Stage 2 hypertension, such as 160/100 mm Hg, was commonly accepted, especially in older adults, and treatment was usually reserved for more severe cases. Mild elevations, like 140/90 mmHg, were often labeled “high normal” or considered a natural consequence of aging, reflecting the belief that moderately elevated pressure could be beneficial for maintaining adequate blood flow.

Source: scienceinsights.org

A widely used clinical rule suggested that systolic pressure could be estimated as “100 plus age”, meaning a 60-year-old with a systolic pressure of 160 mmHg was not automatically treated. This approach contributed to the perception of “benign essential hypertension,” where moderately high blood pressure was thought to be compensatory rather than harmful.

(Editors Note: On Tuesday, my blood pressure was measured at 134/78. I'm 72, so the "age+100" rule suggests I'd be healthy at 172 over whatever. Some quacks doctors are telling me I'm diabetic because 130/80 is some kind of benchmark (It was lowered from 140/80 recently). They are, as my grandfather and father might have opined if they were alive today, FOS. My cousin Joyce calls doctors "professional guessers." BTW, I smoke, drink, and chase dangerous women. -- FR)

Here in 2026, stage 1 hypertension is defined as a blood pressure consistently between 130–139 mm Hg systolic or 80–89 mm Hg diastolic and is highly manageable with lifestyle changes and, in some cases, medication.

Stage 2 hypertension occurs when systolic blood pressure is 140 mmHg or higher, or diastolic pressure is 90 mmHg or higher, with only one of these numbers needing to be elevated to qualify (e.g., 145/82 mmHg counts as stage 2).

The medical community - famous for the "safe and effective" COVID vaccine which killed and injured millions - like all other government-big business-related entities, push a narrative designed to put as many people as possible on Big Pharma drugs when they actually don't need them. The same applies, in spades, for diabetes, the latest boogeyman disease that seldom shows symptoms until doctors get ahold of your blood and perform their voodoo tests.

If quality of life is important to you, avoid doctors and hospitals, eat a healthy diet, get some exercise and be your own doctor. Your body will tell when you're sick better than nay tests or doctors ever will.

The CDC has the gall to publish things like this:

Total diabetes: 40.1 million Estimated number of people with diagnosed or undiagnosed diabetes in the United States, 2023

12.0%: Estimated percentage of the U.S. population with diabetes

Diagnosed diabetes: 29.1 million Estimated number of people with diagnosed diabetes in the United States, including 28.8 million adults aged ≥18 years

Undiagnosed diabetes: 27.6% Estimated percentage of adults aged ≥18 years with diabetes who are undiagnosed, representing 11.0 million people

Prediabetes: 115.2 million Estimated number of U.S. adults aged ≥18 years with prediabetes

See the problem here? It's in that Undiagnosed diabetes reference of 27.6%. If 11.0 million people are 27.6% of the population over 18, that means the total adult population is 39.86 million, which is obviously wrong and makes a laughingstock of the assertion that 115.2 million (out of 39.86 million!) have Pre-diabetes, whatever that is. One would assume these are people that Big Pharma would like to be fully diabetic and eligible to buy their drugs.

Or, maybe the "total diabetes of 40.1 million, which is referenced as 12% of the U.S. population, is correct? That appears to be closer to the truth, about 334 million. adding it all up, 155.3 million, about 46.5% of all U.S. population falls into one of these categories.

With numbers as skewed and obviously incorrect as these, how can te CDC have any credibility at all? Like hypertension, diabetes is arcing toward 50% of the population. In a few years, it will be 60%, then higher, until almost everybody is on some kind of medication.

It's kind of insane. The U.S. medical system is broken. Most doctors and nurses with a conscience will tell you so.

The preceding monologue does not constitute medical advice. Everybody is different. When modern medicine practitioners recognize that fact of life, health care in the U.S. can begin to be reformed.

Getting on to stocks and money...

The Shiller PE ratio (CAPE) stands at 41.83, closing fast on the all-time record high of 44.19 (December 1999). Beyond bubble territory. There's almost no way to accurately describe the level of price/value dislocation.

Earnings reports continue to roll out at a slowed pace.

Walt Disney (DIS) reported Wednesday morning, prior to the open. Strong results for the first quarter of 2026 sent the stock soaring from 100.51 to close the session at 108.03, a gain of more than seven percent. The massive gains seen in many stocks upon earnings reports or news flow points up the gamey nature of U.S. markets. Just because a company has a solid quarter or launches some exciting, fresh venture, doesn't automatically make it more valuable, though in the "take no prisoners" current environment, with everybody chasing momentum and yield, these kinds of gains have become normalized. Stock buyback programs and heavy insider buying (and selling) also emulate a market that is highly compressed and triggered by headlines.

After Wednesday's close Applovin (APP), Snap Inc. (SNAP), Beyond Meat (BYND), Dutch Bros. (BROS), and Coinbase (COIN) reported. Of those, Snap Inc. saw the biggest decline, losing more than eight percent in pre-market trading. The stock is close to an all-time low around $6 per share, down from a high of $83 in 2021.

Beyond Meat (BYND) is now a $1 stock and will soon be in danger of delisting, losing 11% pre-market. It was briefly a $150 stock back in 2021. Apparently, Americans prefer real beef, even if it costs them $20 or $30 a pound.

Coffee chain Dutch Bros (BROS) is headed down more than six percent even after beating Street estimates.

Thursday, before the open, McDonald's (MCD) reported, and the outlook is not good. Despite an earnings beat, the stock is wallowing around one percent to the downside.

The Middle East situation continues to evolve in myriad ways. Iran continues to hold out for better terms regarding an end to the conflict. Meanwhile, the duopoly of Iran's guarding of the Strait of Hormuz and the U.S. naval blockade in the Indian Ocean continue to keep oil flows at a trickle. Traders, however, are confident a solution is near, sending WTI crude down more than five percent to $90 a barrel.

Maverick entrepreneur and founder of CNN, Ted Turner, has passed away at the age of 87.

Stocks look to be headed even higher Thursday as futures are up across the board. Silver is up sharply, at $81.17 an ounce. Spot gold is at $4,738.90.

At the Close, Wednesday, May 6, 2026:
Dow: 49,910.59, +612.34 (+1.24%)
NASDAQ: 25,838.94, +512.82 (+2.02%)
S&P 500: 7,365.12, +105.90 (+1.46%)
NYSE Composite: 23,284.39, +275.72 (+1.20%)

Truth is Becoming Less Identifiable and Discernible as U.S. Narrative Focuses on Peace Negotiations with Iran; Stocks, Gold, Silver Rally; Oil Drops

Just a day after announcing "Project Freedom", President Trump announced that the operation designed to escort commercial ships safely through the Strait of Hormuz was abruptly ended.

The consensus opinion of military experts outside the Beltway Bullhorn media complex contends that the two ships that actually did transit the Strait successfully were aligned with the U.S. military, part of a program that allowed for military assets to be shipped on commercial ships. The revealing information was quickly scrubbed from most outlets reporting the operation.

CENTCOM issued no official confirmation, only a briefly worded statement.

According to CBS News:

The USS Truxtun and USS Mason, supported by Apache helicopters and other aircraft, faced a series of coordinated threats during the passage, the defense officials said. Iran launched small boats, missiles and drones against them in what officials described as a sustained barrage.

Despite the intensity of the attacks, neither U.S. vessel was struck.

Whether or not the events reported actually happened remains a matter of some speculation.

In any case, the story being told by the White House and military officials, similar to the "rescue" operation in Iran a few weeks ago, is what matters to the ongoing struggle in the Middle East, and to Wall Street and its headline-gorging algorithms.

Wednesday morning, stocks are being lifted by accounts that the U.S. and Iran are close to a deal, though Iranian sources have denied any such condition, saying, in part, "The negotiations are still facing the intransigent American approach and excessive demands."

Another Wednesday morning truth by President Trump offered this:

Assuming Iran agrees to give what has been agreed to, which is, perhaps, a big assumption, the already legendary Epic Fury will be at an end, and the highly effective Blockade will allow the Hormuz Strait to be OPEN TO ALL, including Iran. If they don’t agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before. Thank you for your attention to this matter! President DONALD J. TRUMP

With an assortment of diverse opinions coming from the likes of Secretary of State Marco Rubio and War Secretary Pete Hegseth, the truth may be just a little harder to discern than taking media reports (without video) at face value.

All this uncertainty leads to the ultimate goal, as Morpheus explains the matrix to Neo:

Stocks, in response to government propaganda, are set to soar Wednesday. The price of WTI crude oil on the COMEX has fallen below $100/barrel, down to a low of $88.66 earlier this morning. Gold ($4,684) and silver ($76.70) are also rallying sharply. Stock futures ar substantially higher.

At the Close, Tuesday, May 5, 2025:
Dow: 49,298.25, +356.35 (+0.73%)
NASDAQ: 25,326.13, +258.32 (+1.03%)
S&P 500: 7,259.22, +58.47 (+0.81%)
NYSE Composite: 23,008.67, +115.21 (+0.50%)

Stocks Open Week on Downside, Look to Rebound Tuesday as "Project Freedom" Seeks to Free Up Strait of Hormuz to Commercial Traffic

Stocks opened the trading week with a bit of a pullback, especially on the Dow Industrials, which was down more than one percent at the end of the day. That drop isn't likely to matter much, as Tuesday's open approaches with tensions escalating in the Middle East.

According to CENTCOM, two U.S. Navy destroyers have transited the Strait of Hormuz, allegedly suppressing a sustained assault by Iranian fast boats, missiles, and drones in the first true test of "Project Freedom", by which the U.S. plans to escort commercial ships through the strait into open, friendlier waters.

Initial reports being positive, stock futures are responding to the headlines. Dow futures are up 220 points, NASDAQ futures are ahead by 213, and S&P futures show a positive gain of 35 points a half hour before the opening bell.

On Monday, yield on the 30-year bond crept up to 5.05%, a danger signal to U.S. interests. Rising yields on the longest-duration treasuries is something the Trump administration would rather not contend with, as higher yields suggest insecurity in lending the to the U.S., already more than $38 trillion in debt.

Tuesday morning, yields on the 30-year are declining, close to an even 5.00%, but the danger still exists. Ten-year notes are yielding roughly 4.42%, though they came closer to the Mendoza line at 4.50% on Monday.

As far as "Project Freedom" is concerned, so far, so good, as CBS news is confirming the transit of Hormuz by the two Navy ships. Whether on not CBS reporting constitutes actual confirmation is questionable, as the network is usually little more than a stenographer for the federal government and military.

On the earnings front, reporting first quarter results Tuesday before the open:
Pfizer (PFE) - earnings beat, reaffirms guidance, stock up less than 1% in pre-market
PayPal (PYPL) - reports higher earnings and revenue, stock slides 9.5%
Marathon (MPC) - big beat on revenue, earnings, shares marginally higher
Shopify (SHOP) - revenue gains, profits slim, shares down 7%

Gold and silver are ripping higher as the U.S. cash open approaches, though both are well off last year's all-time highs. Bitcoin has streaked beyond $81,000, also well below 2025 highs of $124,000.

The oil must flow, WTI crude down $3 to $103 and change.

At the Close, Monday, May 4, 2026:
Dow: 48,941.90, -557.37 (-1.13%)
NASDAQ: 25,067.80, -46.64 (-0.19%)
S&P 500: 7,200.75, -29.37 (-0.41%)
NYSE Composite: 22,893.46, -147.68 (-0.64%)

WEEKEND WRAP: It's All Wrong and You're Just Beginning to Notice; Governments Are Killing Entire Economies: U.S. National Average Gas: $4.45

Government, always and everywhere, are obnoxious. President Trump is merely the most recent manifestation of bad behavior.

Whether the ruling powers of a nation, territory, tribe, state, city, county or any other superficial construct created by people with the power to create sovereignty be cloaked in the colors of democracy, socialism, communism, fascism or any other "ism", the goals are the same: to Thwart the will of the people, to steal their wealth and resources, and to enslave working men and women, their ilk, and their progeny.

The ultimate aim of government everywhere is to enrich those in positions of power by taxation and confiscation of other people's wealth via laws, regulations, tariffs and doctrines. They tax and regulate income, property, and resources endlessly, and by this means drain the wealth of entire populations gradually, but ultimately effectively.

Take the United States for example. At all levels, government taxes, borrows, and spends the wealth of the submissive population to further their own ends, pocketing a percentage here, a fee there, a regulation or tariff everywhere. As government has grown into a self-inflating, self-perpetuating behemoth, its minions, the so-called "public servants" are rewarded with salaries and benefits that far exceed those enjoyed by the public. They are paid to carry water for the elitist elected officials and do their bidding at the expense of the people they are ostensibly supposed to be serving.

They are all parasites, otherwise unemployable and worthless, having no skills other beyond those of common con men or paper-pushers and have the power of law and doctrine to enforce their will over those of the general public.

Any person living within the confines of government - and that would be every man, woman, and child in the world outside of aboriginal tribespeople in far away places - would better their lot in life with an understanding that the government is not there to protect them, nor to aid them in any manner, but to sublimate their will and use their labor and capital to further their own intentions.

One would not be blind to the government's reach into every aspect of their lives: how they live, what they buy, with whom they associate. One would be well-served to keep government at arm's length or further away from one's private affairs, of which government has no business. The goal of the empowered individual would be wise to be silent as to one's holdings or wealth, measured in property, well-being, and capacity to live free, to keep what is rightfully theirs, unencumbered and unknown to the government monstrosity.

It's a tough task that takes a man or woman's full life and effort, but it essential to ensure proper prosperity and liberty.

Americans and most everybody living within the modern constructs of advanced societies need to be aware that government will take a generally large percentage of one's wealth if allowed to do so. Ordinary people are cajoled and encouraged to engage in "wealth-building" in the institutionalized mechanisms of banking, stocks, bonds, annuities, insurance, and properties, all of which, beyond basic personal and real property, are unnecessary and a means by which the government taxes and confiscates wealth.

Avoidance of these accepted, annoying nuisances provides a pathway to economic and personal freedom.

Real property, collectibles of value, precious metals, and profitable private business operations are essential to well-being.

The tropes promoted by governments, media, and their salespeople are corrosive, subject to vast mis-valuation, and confiscatable.

Stocks

Who gets played?

The NASDAQ composite has finished positive in 19 of the past 23 sessions.

After having risen 13 out of 15 sessions from the end of March, the Dow Transportation Average finished negative seven of the last eight sessions.

Dip buyers were handsomely rewarded. Overall, it's a rotten game. Those who choose to play only at the margins, via buy and hold tactical strategies, are allowed a free ride on the stock market roller coaster. Stock specificity and allocation allotments are mild tolls of the passive investor, those whose only worry is having enough to last until their ultimate demise. Willingly trapped into the system, they facilitate the government's ultimate tax skimming superstructure.

Good doggies. Now, go lay down.

The Shiller PE ratio (CAPE) stood at 41.06 at the close of trading Friday, a level second only to the level of 44.19 reached at the peak of the dotcom spike in December 1999. The financial apparatus supporting such extremes is well aware of the incredible gap between price and value and will continue the crusade to ever more unsustainable levels. The game goes on. The financialization of the economy is nearly complete; the welfare/warfare state in control.

For those still drooling at the font of fiat, the week ahead will be loaded to the gills with earnings reports.

Monday: (before open) Norwegian Cruise Lines (NCLH), Tyson (TSN), Berkshire-Hathaway (BRK.B); (after close) Pinterest (PINS), Transocean (RIG), Palantir (PLTR)

Tuesday: (before open) Pfizer (PFE), PayPal (PYPL), Marathon (MPC), Shopify (SHOP); (after close) AMC (AMC), Strategy (MSTR), Advanced Micro Devices (AMD)

Wednesday: (before open) KraftHeinz (KHC), Uber (UBER), CVS Health (CVS), Novo Nordisk (NVO), Walt Disney (DIS); (after close) Applovin (APP), Snap Inc. (SNAP), Beyond Meat (BYND), Dutch Bros. (BROS), Coinbase (COIN)

Thursday: (before open) McDonald's (MCD), Celsius (CELH); (after close) Affirm (AFRM), Opendoor (OPEN)

Friday: (before open) Enbridge (ENB), Wendy's (WEN)

Friday, May 8, the BLS trots out the latest made-up employment numbers with the April Non-farm Payroll Report (begging the question of what is farm employment looking like?).

Volatility continues, upside momentum is nearing conclusion. "Sell in May and Go Away" motif may be a suitable motif, urging profit-taking.

One final note: Spirit Airlines, with a business model catering to low-income fliers, has gone bankrupt. A lesson for us all.

Treasury Yield Curve Rates

Date	1 Mo	1.5 mo	2 Mo	3 Mo	4 Mo	6 Mo	1 Yr
03/27/2026	3.74	3.73	3.72	3.73	3.72	3.75	3.77
04/03/2026	3.71	3.73	3.73	3.71	3.71	3.73	3.72
04/10/2026	3.67	3.69	3.70	3.69	3.69	3.72	3.70
04/17/2026	3.69	3.70	3.73	3.70	3.69	3.69	3.64
04/24/2026	3.69	3.72	3.71	3.69	3.69	3.71	3.67
05/01/2026	3.71	3.71	3.70	3.68	3.76	3.71	3.73

Date	2 Yr	3 Yr	5 Yr	7 Yr	10 Yr	20 Yr	30 Yr
03/27/2026	3.88	3.94	4.06	4.25	4.44	4.99	4.98
04/03/2026	3.84	3.88	3.99	4.17	4.35	4.91	4.91
04/10/2026	3.81	3.80	3.94	4.12	4.31	4.89	4.91
04/17/2026	3.71	3.72	3.84	4.04	4.26	4.85	4.88
04/24/2026	3.78	3.80	3.92	4.10	4.31	4.88	4.91
05/01/2026	3.88	3.91	4.02	4.20	4.39	4.96	4.97

Now that Chairman Jerome Powell is done and gone after Wednesday's "stand down" on interest rate policy, the 30-year yield is getting darn close to five percent. Once it heads beyond that, some little dose of non-reality will be needed to "calm markets."

Any rational investor would likely believe the yield on 30-year paper loaned to a government that is nearly $40 trillion in debt and can't stop spending should be closer to eight percent, or, a loan not made. Due diligence matters, and the U.S. government is a deadbeat. In 30 years, it's likely to be even still dead and more beaten. Like everything else in fantasy finance, the 30-year is a trade, based solely on what the underlying security will bring in three to six months. Nobody in their rigt mind would hold government paper at under five percent for the duration.

Everything within the treasury yield curve is cockeyed. If one can get 3.71% risk-free on a one-month bill, why in the world risk anything for any longer unless the yield is significantly higher? The answer lies in the full spectrum spread from 30 days out to 30 years. It reached +126 this week, a nominal high, and appears to be pointing higher, so, when Kevin Warsh becomes the new Fed head and begins lowering rates to accommodate more spending by the government (Trump loves low rates (and inflation)), the spread will expand to probably well beyond 200 basis points (2.00%), which would satisfy the desires of both the government and the heavy money in the 30-year market. Government borrowing on the short end at less than three percent and 30-year bonds at 5.50% gets the juice flowing in exactly the right direction to grease both Wall Street and Federal .gov machinery at the same time. What a world.

BTW: the 2s-10s spread, this week at +51, has become meaningless untill it approaches zero. While it's not even close yet, the trend is your friend. Inversion by December appears baked into the yield cake.

Spreads:

2s-10s
2026
1/2: +72
1/9: +64
1/16: +65
1/23: +64
1/30: +74
2/6: +72
2/13: +64
2/20: +60
2/27: +59
3/6: +59
3/13: +55
3/20: +51
3/27: +56
4/3: +51
4/10: +50
4/17: +55
4/24: +53
5/1: +51

Full Spectrum (30-days - 30-years)
2026
1/2: +114
1/9: +112
1/16: +108
1/23: +104
1/30: +115
2/6: +113
2/13: +97
2/20: +100
2/27: +90
3/6: +102
3/13: +115
3/20: +123
3/27: +124
4/3: +120
4/10: +124
4/17: +119
4/24: +122
5/1: +126

Oil/Gas

WTI Crude Oil finished the week in New York at $102.50, just a little higher than last week's close of $94.88. Two weeks ago it was $84.00. The high this week was $110.09. If President Trump doesn't come to his senses soon and get the hell out of the Middle East, end the moronic, just-for-show "blockade", WTI crude will ramp up to $150.

Some people, including many prominent financial and political pundits, seem to believe that Trump cares about the fate of the Republican party in the November midterms and will do everything he can to lower the price of oil and gas in the U.S. to ensure majorities in the House and Senate.

This is a dangerous fallacy. Trump could care less about Republicans or Democrats or the House and Senate. He's a lame duck interested in padding his already grotesque bank account and little more. Getting the price of oil out of the $55-65 range was a priority and he's already done that. Keeping crude well above $100 and gas closer to $5.00 than to $3.50 is next on his agenda, paying off political dues to the people who matter, heavily invested in energy commodities and the companies that gouge serve American drivers.

Average price for a gallon of unleaded regular gasoline in the U.S. was $4.07 last week and $4.45 this week. Americans are getting lubed, good and hard, and without so much as a reach-around. Thank you President Bone-spurs.

Prices in key states:

California (leader): $6.10 (+0.16) Yippie! for the Golden State!
Washington: $5.66 (+0.22)
Oklahoma (lowest): $3.85 (+0.38)
Florida: $3.34 (+0.42)
Illinois: $4.93 (+0.62)
Pennsylvania: $4.52 (+0.37)
New York: $4.43 (+0.29)
Maryland: $4.26 (+0.27)
Michigan: $4.87 (+0.86)
Texas: $3.89 (+0.26)
Georgia: $3.83 (+0.24)

On Sunday, May 3rd, there are 13 states with average prices below $4.00, and 35 above the $4 threshold, not including Hawaii ($5.60, -0.04) and Alaska ($5.04, +0.29), and three above $5 (Nevada, Washington, Oregon), and one above $6 (California). The Midwest and Southeast have equalized over the past two weeks as the lowest-priced regions, with prices averaging roughly the same in states like South Dakota, Iowa and Kansas as opposed to Tennessee, Georgia and Mississippi.

Bitcoin

This week: $78,694.80
Last week: $77,941.15
2 weeks ago: $75,748.31
6 months ago: $106,774.80
One year ago: $95,816.94
Five years ago: $58,815.15

Crypto is absolute trash. Witness the dumping by the Trump family in their own meme coins and various business ventures in the space. Now would be a good time to sell, if you're dumb enough to have any.

Precious Metals

Gold:Silver Ratio: 61.23; last week: 62.27

Futures, per COMEX continuous contracts:

Gold price 4/3: $4,702.70
Gold price 4/10: $4,771.00
Gold price 4/17: $4,849.40
Gold price 4/24: $4,725.40
Gold price 5/1: $4,625.60

Silver price 4/3: $73.17
Silver price 4/10: $76.03
Silver price 4/17: $81.58
Silver price 4/24: $76.19
Silver price 5/1: $75.84

SPOT:
(stockcharts.com)
Gold 4/3: $4,677.28
Gold 4/10: $4,751.68
Gold 4/17: $4,833.56
Gold 4/24: $4,709.27
Gold 5/1: $4,612.97

Silver 4/3: $73.02
Silver 4/10: $75.95
Silver: 4/17: $80.75
Silver 4/24: $75.63
Silver 5/1: $75.34

Stackers and bugs are still getting shafted by the COMEX/LBMA riggers, a condition that appears to be nearing an end, though the interested parties are sure to not go down without a fight of some significance. Many complaints are being lodged by individual sellers not getting anything near spot for their holdings at dealers. Many do better on eBay, though the 15-20% vig negates much of the profit.

The physical market is sending a clear signal to hold. Buying, near, at, or above spot is probably OK, given a long enough time horizon. Otherwise, buying scrap or items containing gold and silver, like watches, jewelry, silverware, trinkets, etc. at estate and garage sales is becoming a buyer's market if one knows what they're doing. People who are selling are either desperate or stupid or both, so buying well below spot on a meltdown value basis can be fun and extremely profitable. Getting the loot is just beginning to be a grand game.

Here are the most recent prices for common one ounce gold and silver items sold on eBay (free shipping included, numismatics excluded):

Item/Price	Low	High	Average	Median
1 oz silver coin:	76.00	96.75	85.58	85.53
1 oz silver bar:	81.00	91.61	87.24	86.55
1 oz gold coin:	4687.60	4954.98	4795.08	4794.99
1 oz gold bar:	4804.98	4935.11	4844.05	4839.79

The Single Ounce Silver Market Price Benchmark (SOSMPB) fell for a second straight week, to $86.23, a loss of $1.71 from the April 26 price of $87.94 per troy ounce.

WEEKEND WRAP

Governments suck, and the current ones, with tax rates, when one considers all degrees of the totality of income, property, sales, and hidden excise taxes (gas, phone, all kinds of services) well over 40-50% of one's gross income, suck very much harder. The insane levels of money going to government will bankrupt what's left of the middle class and begin to wreak havoc on the final 10% of top earners.

Inflation is about to explode higher. Keep what's yours. Let the government kill itself. Don’t go down with it.

At the Close, Friday, May 1, 2026:
Dow: 49,499.27, -152.87 (-0.31%)
NASDAQ: 25,114.44, +222.13 (+0.89%)
S&P 500: 7,230.12, +21.11 (+0.29%)
NYSE Composite: 23,041.15, -103.50 (-0.45%)

For the Week:
Dow: +268.56 (+0.55%)
NASDAQ: +277.84 (+1.12%)
S&P 500: +65.04 (+0.91%)
NYSE Composite: +106.60 (+0.46%)
Dow Transports: -273.98 (-1.41%)

Disclaimer: Information disseminated on this site should not be construed as investment advice. Downtown Magazine Inc., Money Daily and it's owners, affiliates and/or employees are not investment advisors and do not offer specific investment advice. All investments have risk. You should consult a professional investment advisor or stock broker or use your individual judgement when making investment decisions. By viewing this site, you hold harmless Downtown Magazine Inc., Money Daily, its owners, affiliates and employees against any and all liability. Copyright 2026, Downtown Magazine Inc., all rights reserved.

ExxonMobile, Chevron Post Profits on Higher Oil, Gas Prices; CNBC Claims They Didn't Profit from War; Gas is Over $6.00 in Cali; $4.41 National Average

The order of the day is outrage.

Just a little bit, on the side, to go with your main course of failing to keep up with the cost of living.

The average price of a gallon of gas in the U.S. is $4.41, according to gasbuddy.com. A year ago, that price was $3.17, a 39% increase. For those unfortunate enough to be living on or near the west coast, average gas prices are above $5 in Washington, Oregon, and Nevada, and $6.04 in California.

Friday morning, ExxonMobil (XOM) and Chevron (CVX), America's two oil giants (or, in Wall Street parlance: "supermajors") posted first quarter results.

CNBC blared this headline:

Exxon Mobil and Chevron earnings fall as Iran war disrupts oil shipments

ExxonMobile reported a net profit of $4.2 billion. Chevron reported net income of $2.2 billion.

But wait, there's more!

Exxon’s net income declined 45%, while Chevron’s tumbled 36%. Ohh! Poor babies! However, both companies recorded charges in the quarter to offset losses related to "unfavorable financial hedges", so, adjusted earnings per share for both companies beat estimates handily.

Chevron earned $1.41 per share to beat Wall Street’s estimates of 95 cents. It was the biggest earnings beat since October 2020. ExxonMobile's adjusted first-quarter net income of $1.16 a share was 20 cents higher than the average Bloomberg estimate.

Ding! Ding! Ding! Winner, winner, chicken dinner. Shares of both stocks are steady in pre-market trading even though Exxon’s net income declined 45%, while Chevron’s tumbled 36%, according to the best bean-counting, tax fraud accountants money can buy.

Americans must think that all of this is just swell. While Joe and Jane Sixpack spend about 40% more to fuel up their monster trucks, Big Oil makes nice profits, which is always the case, except this time, CNBC proudly states, "Surging oil prices due to the Iran war did not result in a windfall for Exxon Mobil and Chevron in the first quarter."

No, nobody profits from war. Never, ever.

But wait, there's even more!

Certain rational people might think it's time to buy an electric vehicle and charge it with one's very own rooftop solar system. Great idea, except that all the tax credits for installing solar have expired and buying a BYD or other efficient Chinese-made EV will cost double in the U.S. thanks to President Trump's 100% tariff on EVs imported from China, because, "drill, baby drill" and "China bad."

Nice timing.

It's OK. Stocks made new all-time highs on Thursday and the Shiller PE struck a new tone at 40.94, so everything's just fine.

At the Close, Thursday, April 30, 2026:
Dow: 49,652.14, +790.33 (+1.62%)
NASDAQ: 24,892.31, +219.07 (+0.89%)
S&P 500: 7,209.01, +73.06 (+1.02%)
NYSE Composite: 23,144.64, +393.13 (+1.73%)

Mag Seven Stocks Flat Overall; 1Q GDP Reported at 2%; Annual PCE, 3.5%, highest in 2.5 years; Gallon of Gas Hits $4.31, Highest in Four Years

The war that was supposed to take a weekend to win, or four weeks, or maybe more, is now two months deep. Never mind that the U.S. and Iran haven't actually been shooting things at each other for the past three weeks; both parties are still engaged in a war of words, memes, truths, tweets, and Lego™ videos. Both sides are contributing to keeping the Strait of Hormuz closed, doing severe damage to the global economy. It's becoming not only pointless, but even self-defeating, especially for the U.S., which, for all intents and purposes has lost the war. At the very least the U.S. hasn't won anything.

Israel, which bears responsibility for starting the war, continues to clean up the mess that Iran made of Tel Aviv and other areas. That's a best guess, since media silence is the the Zionist approach to winning hearts and minds.

It was a stupid idea. After an unhealthy amount of death and destruction has been inflicted on all sides, it really needs to stop, but it won't, mostly because the neocons in Washington and President Trump can't accept defeat and haven't figured out how to proclaim victory in a way that Fox News can present as reasonable.

In the end, regular folks, taxpayers, voters, end up with the short stick... in the eye.

On the domestic front, Wednesday was rather busy, though, in the end, after all of the bluster and anticipation, the FOMC rate policy announcement and first quarter earnings reports from Alphabet (GOOG), Amazon (AMZN), Microsoft (MSFT), Meta Platforms (META) cold be summed up neatly by Shakespeare, in Macbeth's one-liner:

"It is a tale told by an idiot, full of sound and fury, signifying nothing."

The FOMC sat on its collective hands, holding the federal funds target rate at 3.50-3.75%. Blah. The meeting was the last one to be chaired by Jerome Powell. In the Senate, the Banking Committee advanced Kevin Warsh's nomination to chair the Fed to the full chamber. He's likely to pass, though not without an extra dose of that "sound and fury" hot air that regularly escapes from the Capitol.

The net effect of four of the Magnificent Seven stocks reporting after the close on the same day, was negligible. Pre-market, Alphabet (GOOG) is up eight percent, Amazon (AMZN) is up three percent, Microsoft (MSFT) is down one percent, and Meta Platforms (META) is down nine percent. In an imaginary portfolio with equal weights of all four, the overall gain would be a one percent gain (8+3-1-9=1). Not a big deal.

A few more household names reported after the close, including:
Qualcomm (QCOM) - small earnings beat (+0.10), weak guidance, shares up 9%
Ford (F) - beat, raises expectations, shares down 4.5%
Chipotle Mexican Grill (CMG) - surprised by sales growth, stock is up 4.5%

If that isn't enough, Thursday, before the open:
Caterpillar (CAT) - Huge revenue gains, shares up 7%
Valero (VLO) - Positive forecast, shares down 1%
Wayfair (W) - Revenue gains, net loss, stock down 5%
ConocoPhillips (COP) - Lowers outlook, stock down 2%
Lilly (LLY) - top, bottom beat, up 6%
Mastercard (MA) - beat, international slowdown, down 2%
Altria (MO) - smoky, cloudy, up 3%
Merck (MRK) - in line, small beat, up 1%
Bristol Meyers Squibb (BMY) - bullish, flat

A little excitement and lots of numbers for investors to chew on this morning, but one that should be the headline came from the Bureau of Economic Analysis (BEA) with their advance estimate of first quarter GDP, coming in at two percent after posting +0.5% in the fourth quarter of 2025.

Two percent growth does not make the USA the "hottest" country on the planet, as the Boaster-in-Chief likes to say. Even if one takes the grossly exaggerated 2nd and 3rd quarters of 2025 at 3.8% and 4.4%, the past four quarters come in at +2.675%, which would relate more or less to stumbling around, rather than setting the world on fire.

The Commerce Department reported CPE, the Fed's preferred inflation gauge, rising at a rate of 3.5%, the highest in nearly three years. So much for the Fed's target of two percent; it hasn't been that low for five years running.

In case you like your country "hot", remember that inflation is being brought to you by the president that promised lower prices. The average price of a gallon of unleaded regular gasoline at the pump is now $4.31. Hot enough? It's going higher, probably much higher, along with the price of everything else.

It may not be so good to be so hot.

At the Close, Wednesday, April 29, 2026:
Dow: 48,861.81, -280.12 (-0.57%)
NASDAQ: 24,673.24, +9.44 (+0.04%)
S&P 500: 7,135.95, -2.85 (-0.04%)
NYSE Composite: 22,751.51, -84.08 (-0.37%)

Trump Mocks Iran Again; Seagate Soars 15% Pre-Market; Fed Rate Decision at 2 pm; Four of Mag7 Stocks Report After Bell Wednesday

As if the world needed more bare bones barbarism from the United States, President Trump posted on Truth Social - complete with the photo at right - the following this morning:

Iran can’t get their act together. They don’t know how to sign a nonnuclear deal. They better get smart soon! President DJT

Diplomacy, American style. The rest of the world doesn't realize that most actual Americans are not this stupid.

Earnings season is in full swing.

After the close Tuesday these companies posted first quarter results:
Starbucks (SBUX) - Earnings beat, strong guidance, stock up 5% pre-market
Teradyne (TER) - solid earnings, stock down 9%, PE 109. Any questions?
Visa (V) - earnings beat, stock up 5.5%
Robinhood (HOOD) - bad earnings miss on crypto drag, shares off 9%
Mondelez (MDLZ) - snacks company cites emerging market growth, stock up 2%
Seagate (STX) - Data storage company rips on earnings beat, optimistic forecast, shares up 15%

Wednesday morning, a few more hit the wires, including:
Yum! Brands (YUM) - earnings beat on Taco Bell surge, shares up 1%
Humana (HUM) - Earnings in line, Medicare pays the bills, stock down 2%
Avis (CAR) - earnings miss (EPS -8.01), ripe for short, down 18% pre-market
Abbvie (ABBV) - Big Pharma afterthought, shares up 1% in line
SoFi (SOFI) - reports solid growth, re-affirms guidance, stock down 8%
Regeneron (REGN) - Overvalued pharma, beat, shares up 1%

Judging from the results, there are more than just a few institutional investors bailing on big name stocks like Teradyne, Sofi, Avis, and Robinhood, and nobody can really blame them for not approving of a company's under-performance.

On the other side of the coin, piling into a stock at the center of the AI surge - Seagate - might be pushing the envelope a little too far. Seagate will vault to over $600 a share Wednesday morning, making it a 7-bagger in just one year. Last April 29, Seagate was a $91 stock. This kind of massive run higher suggests a very overcrowded momentum trade with the stock sitting on a PE ratio upwards of 60.

While Seagate has consistently improved earnings over the past 12 months, it's going to take a lot more profit over the next four quarters to justify that level of valuation. Given the stock market of 2026 is all about chasing yield and little more, Seagate could top 750 by the end of this quarter, or, should AI mania fade, drop a couple hundred points in a panic selling situation.

The companies that reported overnight are substantial, but they hold a back seat to those reporting after the bell Wednesday - and after the FOMC announcement at 2:00 pm ET today. Four of the Magnificent Seven stocks - Alphabet (GOOG), Amazon (AMZN), Microsoft (MSFT), Meta Platforms (META) - will report after the close today. Expect plenty of volatility in those names prior to the after-market reveals.

Trump needs to get the incident in the Middle East over and done with, but he won't, because he and almost all of the U.S. congress is inexorably lashed to Israel. Sever those ties and the world would be much better off. The oil that left the Strait of Hormuz before March 1 has already reached destinations. Behind those tankers is a trickle, not enough to keep oil prices from spiking, no matter what the U.S. and Iran decide to do. Shortages are due, and they are going to be extreme.

Waiting until the crisis becomes real and then panicking is not a winning strategy, but that's exactly what most investors are doing.

At the Close, Tuesday, April 28, 2026:
Dow: 49,141.93, -25.86 (-0.05%)
NASDAQ: 24,663.80, -223.30 (-0.90%)
S&P 500: 7,138.80, -35.11 (-0.49%)
NYSE Composite: 22,835.59, -69.87 (-0.31%)

Pizza and a Drink: Domino's Down, Coke Up, as Food Retailers Confront Inflation, Competition; Rambus (RMBS), Spotify (SPOT) Slaughtered in Earnings Rout

With Middle East media coverage slowed to a crawl, Wall Street turns to first quarter earnings reports for trading inspiration, and there's plenty to choose from this week.

Monday, prior to the opening bell, Domino’s Pizza (DPZ) and Verizon (VZ) reported, with the bad news coming from the pizza-maker, which saw same store sales well below expectations, citing heavier competition (Pizza Hut, Papa John's), and issued guidance of just 1-2% same store gains the rest of the year. The stock slumped pre-market and the bad attitude carried over into the cash session, with Domino's falling nearly nine percent on the day.

Verizon fared better, though despite beats top and bottom, the stock started the day higher but ended lower. After a big run-up in late January, the stock seems to have stalled out in the mid-40s.

After the close on Monday, the following reported:
Rambus (RMBS) - General investor disappointment at the chip tech company, down 19% pre-market.
Lending Club (LC) - earnings beat, profits record, shares up 10%
Nucor (NUE) - Steel prices lift profits, shares ahead 2%

Tuesday, before the open, more reports hit the wires, including:
Hilton (HLT) - earnings beat, raises REVPAR guidance, stock slips 2%
General Motors (GM) - earnings beat estimates, company raises profit guidance after favorable tariff ruling, shares down 1%
Spotify (SPOT) - company raises prices, misses EPS estimates, shares slip 10%
Coca-Cola (KO) - Beat, raises guidance, shares up 3%
UPS (UPS) - EPS beat, revenue slips, re-affirms guidance, shares down 5%

The companies reporting so far this week have given some indications of where the economy is heading, though there are more heavy hitters up on Wednesday, coinciding with the Fed's FOMC policy announcement.

After the close Tuesday, Starbucks (SBUX), Teradyne (TER), Visa (V), Enphase (ENPH), Robinhood (HOOD), Modelez (MDLZ), and Seagate (STX) report, but after the close Wednesday, four of the Magnificent 7 send vibes, with reports from Alphabet (GOOG), Amazon (AMZN), Microsoft (MSFT), Meta Platforms (META). The leading tech companies will have much to say about the future of the US and global economy, their weight on the s&P 500 accounting for most of the gains the past two years.

When it comes to getting it right and getting it wrong, two companies that have already reported tell the story. Domino's, which happened to be the first major fast food retailer out of the box this quarter, missed the boat and had their shares sink. On the brighter side, Coca-Cola, with decades of reporting in their arsenal, managed to woo more investors by being street smart with their reporting. The two stocks have moved in opposite directions.

Another lesson for CEOs and CFOs comes from Spotify, which tried to slip in price increases during a period of slow growth and watching the bottom line closely in their niche, which includes thousands of small businesses which haven’t had a favorable break in decades and was treated poorly during the Covid experiment of choosing winners. It hasn’t gone over well and investors are voicing their concern with their feet.

With the open minutes ahead, futures are mixed, gold and silver are taking a beating via the usual, nasty, COMEX method and WTI crude oil popped over $100 in the absense of any movement to resolve the US/Israel-Iran crisis. There's growing concern that the oil shock will be the worst the world has seen, now that shipments have been crimped for nearly two months. Oil that escaped the region before March 1, is still arriving at destinations around the world, but now there will be a gap, with limited flows for the next 40-60 days as supply have been choked off, both by Iran and the U.S. There's a world of hurt coming for countries that rely on the steady flow.

At the Close, Monday, April 27, 2026:
Dow: 49,167.79, -62.92 (-0.13%)
NASDAQ: 24,887.10, +50.50 (+0.20%)
S&P 500: 7,173.91, +8.83 (+0.12%)
NYSE Composite: 22,905.46, -29.09 (-0.13%)

WEEKEND WRAP: Middle East Flush a Bad Poker Hand; Higher Oil Prices Mission Accomplished; Stocks, Gold, Silver Rise and Fall in Tandem

The conditions of ceasefire and blockade in the Middle East region have effectively taken Iran, Israel, and war off the front pages and relegated them back to an ongoing overview status in regards to media coverage. Without bombs and missiles blunting and blurring the skies and destroying buildings, infrastructure, military and civilian assets, and people, the war with Iran has become dull, repetitive, and boring.

Every day, the same readouts come from the usual suspect sources: the White House, Centcom, Iran, Pakistan, Israel, and Lebanon. Another tanker has been seized. A few more have been turned away at the Strait of Hormuz. Israel intercepts missiles fired by Hezbollah. Negotiations are on, then off, then on again. Little changes, so the media moves on to other areas of public concern. Case in point: Saturday night's media-political confab known as the White House Correspondents Dinner, interrupted by a lone patsy gunman predisposed to wreak havoc. It's the news of the day, supplanting any tired narratives or propaganda emanating from the Middle East.

Current conditions in the Middle East and outward into the Indian Ocean suit the Trump administration's agenda perfectly. From running an increasingly-tenuous narrative of "winning", to a more easily-managed message of control - whether it be in terms of the flow of oil or the back-and-forth of negotiations - the war has degraded, purposely, into another long, drawn out slog by which the MIC, the Pentagon, and the White House, can control the messaging and further their ultimate intention of spending U.S. tax and borrowed dollars on weapons, arms, machinery of war, soldiers, sailors, generals, admirals, think tanks, and advisors.

The wheels have been greased. The hands are outstretched. More money for defense, or, in current presidential terminology, war.

A complete, utter, unforgivable waste while the United States circles the economic drain, taking Europe and emerging economies down with it.

If the president continues to believe he has the right cards to play, he's likely headed for a royal flush.

Stocks

Stocks, other than the magnificent semi sector on the NASDAQ, took a breather after three weeks of torrid gains. Notably, much of the 10% gain in the Dow Transports was taken back this week as airline stocks issued dire projections for the future of flight. Stocks like UAL, AAL, and LUV were smacked down hard, erasing recent gains and issuing a dose of reality upon releasing 1Q earnings reports, and, more importantly, somewhat dire guidance based on increasing operational costs, like, um, jet fuel, which has more or less tripled over the past six weeks.

Outside the NASDAQ and the Trannys, stocks put in a rare week of flat-lining.

For the Week:
Dow: -216.72 (-0.44%)
NASDAQ: +368.12 (+1.50%)
S&P 500: +39.02 (+0.55%)
NYSE Composite: -263.19 (-1.13%)
Dow Transports: -1530.10 (-6.82%)

The Shiller PE ratio (CAPE) stood at 40.66 at the close of trading Friday, a level second only to the level of 44.19 reached at the peak of the dotcom spike in December 1999. Addressing the issue of valuation as compared to price at these levels is an exercise in futility. The markets, mauled and manipulated by the off-and-on nature of the Middle East morass eventually give way to the momentum of greed and FOMO. There's little doubt that the all-time high on the Shlller PE will be a target and potentially surpassed as stocks continue to be paraded as the safe investment for Americans and likewise, a shield against devaluation of international currencies.

"Up, up and away" would seem to be a fitting motto for current market conditions. With fogs of war in Ukraine and the Middle East lingering, money into stocks appears a palatable trade.

The week ahead will be chock-full of earnings reports, with particular focus on Wednesday’s after the bell announcements from four MAG7 stocks and a few notables, coinciding and possibly overshadowing the Fed’s FOMC rate policy announcement.

Monday: (before open) Domino’s Pizza (DPZ), Verizon (VZ), Norwood Financial (NWFL); (after close) Rambus (RMBS), Lending Club (LC), Nucor (NUE), Celestica (CLS)

Tuesday: (before open) Corning (GLW), Ecolab ((ECL), Hilton (HLT), General Motors (GM), Spitify (SPOT), Coca-Cola (KO), UPS (UPS); (after close) Starbucks (SBUX), Teradyne (TER), Visa (V), Enphase (ENPH), Robinhood (HOOD), Modelez (MDLZ), Seagate (STX)

Wednesday: (before open) Humana (HUM), Avis (CAR), Abbvie (ABBV), SoFi (SOFI). Regeneron (REGN); (after close) Kinross (KGC), Alphabet (GOOG), Amazon (AMZN), Microsoft (MSFT), Meta Platforms (META), Qualcomm (QCOM), Ford (F), Chipotle Mexican Grill (CMG)

Thursday: (before open) Caterpillar (CAT), Valero (VLO), Wayfair (W), ConocoPhillips (COP), Lilly (LLY), Mastercard (MA), Altria (MO), Merck (MRK), Bristol Meyers Squibb (BMY), Cigna (CI); (after close) Apple (AAPL), Reddit (RDDT) Rivian (RIVN), Amgen (AMGN), Riot (RIOT), Sandisk (SNDK)

Friday: (before open) ExxonMobil (XOM), Chevron (CVX), Colgate-Palmolive (CL), Moderna (MRNA), Estée Lauder (EL), Dominion Energy (D)

With huge focus on the Fed and earnings calendar, the economic slate is still going to be somewhat essential for an accurate read of market trends. Monday, the Dallas Fed Manufacturing Index for March is released. Tuesday is highlighted by the S&P/Case-Shiller Home Price Index and the Richmond Fed. Wednesday, before the opening bell, Drable Goods Orders, Housing Starts and Building Permit data are released.

Thursday offers the second estimate of first quarter GDP, jobless claims, the PCE Price Index for March (inflation data), and consumer spending. There’s a few items of note on Friday, including the S&P Global Manufacturing PMI and ISM Manufacturing PMI.

Volatility is to be expected to continue amid the ongoing mangling and miscarriage of financial markets.

Treasury Yield Curve Rates

Date	1 Mo	1.5 mo	2 Mo	3 Mo	4 Mo	6 Mo	1 Yr
03/20/2026	3.73	3.71	3.72	3.74	3.73	3.79	3.80
03/27/2026	3.74	3.73	3.72	3.73	3.72	3.75	3.77
04/03/2026	3.71	3.73	3.73	3.71	3.71	3.73	3.72
04/10/2026	3.67	3.69	3.70	3.69	3.69	3.72	3.70
04/17/2026	3.69	3.70	3.73	3.70	3.69	3.69	3.64
04/24/2026	3.69	3.72	3.71	3.69	3.69	3.71	3.67

Date	2 Yr	3 Yr	5 Yr	7 Yr	10 Yr	20 Yr	30 Yr
03/20/2026	3.88	3.90	4.01	4.20	4.39	4.97	4.96
03/27/2026	3.88	3.94	4.06	4.25	4.44	4.99	4.98
04/03/2026	3.84	3.88	3.99	4.17	4.35	4.91	4.91
04/10/2026	3.81	3.80	3.94	4.12	4.31	4.89	4.91
04/17/2026	3.71	3.72	3.84	4.04	4.26	4.85	4.88
04/24/2026	3.78	3.80	3.92	4.10	4.31	4.88	4.91

With a FOMC meeting this week expected to take all the volatility out of the treasury market, long rates had a tendency to the upside, increasing expectations for 4.5% on the 10-year note and 5.0% on the 30-year.

Interest rates have been kept artificially low, especially in reference to the resurgence of inflation in the U.S. and what's soon to come to most of Europe. Treasuries are being held at rates suggesting that the U.S. is some kind of industrial powerhouse, churning out products to the rest of the world and creating jobs at an accelerated pace, when the fact of the matter is the country is the most-heavily-indebted nation in the history of the world, its infrastructure is failing at alarmist levels, and its politicial and economic leaders have about the same level of intellectual capacity as a bag of potatoes.

Lending the United States of Aggression money at four or five percent invites disaster at the international level when true inflation is - and has been - running at better than seven to ten percent. Forget the official CPI and PPI monthly data. Those are purposely understated ot avoid the obviousness of the situation. The U.S. spends roughly an equal amount of money on Social Security, Medicare, and Medicaid as it does on interest and the military, creating the perfect symbiotic welfare/warfare state.

Jerome Powell will be chairing his penultimate FOMC meeting this week, overseeing another pause or neutral policy statement. He's not likely to rock the economic boat as he departs from his leadership position as that would only anger the deranged Mr. Trump, who wants to lower rates down to one percent or even lower in months ahead in order to spur the economy and usher in an unprecedented save of he House and senate in the November midterms.

On Sunday's edition of "Meet the Press", Senator Thom Tillis (R-NC) cleared the way for Kevin Warsh's confirmation as the next Fed head, citing the end of a criminal investigation against Powell. The Senate Banking Committee will meet Wednesday to advance Warsh's nomination to the full Senate, where he is expected to clear.

Thus, President Trump will have "his man" at the helm, pressured to lower rates when they actually should be raised. Under the current administration, the Fed might begin a pattern of lowering rates as early as June or July, just as inflation reaches crisis levels. Oil and gas prices might be the current fear, but food and everything related to petroleum (just about everything) is set to skyrocket within the next 12-18 months.

The blundering Fed at least will be consistent in not achieving its dual mandates of maintaining full employment nor stable prices. The 113 reign of terror over the U.S. dollar is about to bloom fully.

Spreads:

2s-10s
2026
1/2: +72
1/9: +64
1/16: +65
1/23: +64
1/30: +74
2/6: +72
2/13: +64
2/20: +60
2/27: +59
3/6: +59
3/13: +55
3/20: +51
3/27: +56
4/3: +51
4/10: +50
4/17: +55
4/24: +53

Full Spectrum (30-days - 30-years)
2026
1/2: +114
1/9: +112
1/16: +108
1/23: +104
1/30: +115
2/6: +113
2/13: +97
2/20: +100
2/27:
+90 3
/6: +10
2 3/13:
+115 3
/20: +
123 3/2
7: +124
4/3: +120
4/10: +124
4/17: +119
4/24: +122

Oil/Gas

WTI Crude Oil finished the week in New York at $94.88, more than $10 higher than last Friday's close at $84.00. Since negotiations have fizzled again and again, much to the liking of the Trump factions, and the Strait of Hormuz remains nearly shut down by Iran and further "blockaded" by U.S. patrol ships in the Gulf of Oman and further out into the Indian Ocean, oil flows have quickly returned to minimals. Choking off fuel is an excellent method for restraining economies and hiding deeper flaws which seems to be working well for the U.S. suppression madmen in charge. Ruination of economies doesn't happen overnight. The world is still in just the beginning of what appears to be a long standoff between the U.S. and Iran, which will result in dramatic, devastating economic consequences, already being felt by lower-level nations in Africa, South America, and Southern Asia. The spread to developed nations, particularly Europe, will commence as the crises deepens.

Average price for a gallon of unleaded regular gasoline in the U.S. was $4.01 last week and $4.07 this week, reflecting the change in perception over Middle East politics and policies. Optimism over opening the Strait of Hormuz faded throughout the week as even the prospect of negotiations between Iran and the U.S. was dashed. The two sides remain far apart and not talking at this juncture. A long, drawn out stalemate is textbook U.S. policy, keeping oil prices - which were lower and stable before the conflict began - high and prospects for peace low. Be prepared to pay more for not just gas, oil, or lube, but everything.

Prices in key states:

California (leader): $5.94 (+0.11)
Washington: $5.44 (+0.07)
Oklahoma (lowest): $3.47 (+0.14)
Florida: $3.92 (-0.07)
Illinois: $4.31 (+0.03)
Pennsylvania: $4.15 (+0.06)
New York: $4.14 (+0.06)
Maryland: $3.99 (-0.03)
Michigan: $4.01 (+0.05)
Texas: $3.63 (0.00)
Georgia: $3.59 (+0.02)

As of Sunday, April 24, there are 18 states with average prices above $4.00, with two above $5 (California, Washington), and 30 below the $4 threshold, not including Hawaii ($5.64, -0.04) and Alaska ($4.75, +0.10). The Midwest and Southeast have equalized over the past two weeks as the lowest-priced regions, with prices averaging roughly the same in states like South Dakota, Iowa and Kansas as opposed to Tennessee, Georgia and Mississippi.

Bitcoin

This week: $77,941.15
Last week: $75,748.31
2 weeks ago: $70,755.74
6 months ago: $114,960.80
One year ago: $94,717.11
Five years ago: $58,851.15

For better or for worse, bitcoin and the entire crypto universe is in danger of becoming irrelevant.

After 17 years of trying to convince retail investors that bitcoin and crypto were the future of money, adoption rates for all forms of crypto-currencies have failed to materialize and the recent pullback in bitcoin especially has caused many long-time "hodlers" and true believers to jump ship and seek alternatives to the messianic message of imaginary "coins."

While the White House, crooks running various scams in meme-coins, and partially, the U.S. treasury itself engage in pumping stablecoins as a medium of exchange, that's all they'll ever amount to, as stablecoins require pegs to some other commodity or currency, i.e., gold, dollars. The entirety of the crypto revolution boils down to nothing more than collecting fees by the tollgate keepers and the miners or stakers. The entire industry is flawed due to interdependence on already-established forms of money and currency and it will be nearly impossible for it to escape from that bondage.

That's not to say that the purveyors of these various and sundry scams will cease trying to entice gullible investors and rubes into their vicious games of three-card monte or find the bean. Suckers abound.

Precious Metals

Gold:Silver Ratio: 62.27; last week: 59.86

Futures, per COMEX continuous contracts:

Gold price 3/27: $4,521.30
Gold price 4/3: $4,702.70
Gold price 4/10: $4,771.00
Gold price 4/17: $4,849.40
Gold price 4/24: $4,725.40

Silver price 3/27: $69.77
Silver price 4/3: $73.17
Silver price 4/10: $76.03
Silver price 4/17: $81.58
Silver price 4/24: $76.19

SPOT:
(stockcharts.com)
Gold 3/27: $4,495.05
Gold 4/3: $4,677.28
Gold 4/10: $4,751.68
Gold 4/17: $4,833.56
Gold 4/24: $4,709.27

Silver 3/27: $69.77
Silver 4/3: $73.02
Silver 4/10: $75.95
Silver: 4/17: $80.75
Silver 4/24: $75.63

The close correlation between stocks and precious metals pver the past few months appears to be somewhat counter-intuitive. However, when assessing value from an unbiased perspective, PMs and stocks moving somewhat in tandem makes more sense. Since everybody uses fiat currency for investments, there's little difference between buying blue chip stocks or gold as a means of converting increasingly-worthless paper into tangible investments with potential for gains.

Dow stocks carry dividends along with possible appreciation. Gold, considering its recent acceptance as part of a balanced portfolio, also carries great potential for positive returns. For the more speculative investor, silver offers explosive gains, much like some of the high fliers on the NASDAQ and/or S&P 500.

As the table below demonstrates, when stocks are in the limelight, so too are precious metals, as Wall Street has become more amenable to diversification into different asset classes and many managers have allocated as much as 10-20% of client portfolios into gold and silver, and, to a lesser extent, palladium and platinum.

Value propositions in stocks and metals are readily obtainable, even if value is determined against the decline of fiat currency. Cash, in the form of dollars, yen, pounds, or euros, are merely transfer mechanisms of wealth. By themselves, currencies are only measurement instruments. In the end, investors crave return, gains, growth, income, or anything better than depreciation in an inflationary environment. Thus, when stocks gain, so too do the metals, given the new allocation models. Drawdowns, in all cases, represent little more than profit-taking rather than re-positioning.

In the past, investors leaned either toward PMs or stocks. Under the new paradigm, portfolios are geared more toward a ratio allocation, with precious metals increasingly growing as part of the new balance.

1-Month returns
Gold +7.53%
Dow +7.12%
Silver +13.26%
S&P 500 +10.62%
Nasdaq Composite +16.02%

Here are the most recent prices for common one ounce gold and silver items sold on eBay (free shipping included, numismatics excluded):

Item/Price	Low	High	Average	Median
1 oz silver coin:	80.00	92.99	86.08	86.00
1 oz silver bar:	85.00	95.77	89.76	89.90
1 oz gold coin:	4826.65	5069.80	4959.52	4945.63
1 oz gold bar:	4549.00	5064.05	4858.55	4910.54

The Single Ounce Silver Market Price Benchmark (SOSMPB) slipped lower this week, to $87.94, a decline of $5.06 from the April 19 price of $93.00 per troy ounce.

WEEKEND WRAP

As the Trump administration continues to create narratives and situations that are untenable longer term, expect more chaotic markets as Spring turns to Summer. With high gas prices seemingly a goal of the government and big oil, inflation has returned with a vengeance and is unlikely to relent until some kind of reasonable agreement is reached in the Middle East.

Until such a time, gas prices are almost certain to reach $4.00 or higher in almost the entire country. Already, average gas prices are above $4 in 18 states. There's no incentive for the U.S. to back off from its "blockade" in the Indian Ocean. The only thing the blockade has achieved thus far is higher prices for crude oil.

Mission Accomplished.

At the Close, Friday, April 24, 2026:
Dow: 49,230.71, -79.61 (-0.16%)
NASDAQ: 24,836.60, +398.09 (+1.63%)
S&P 500: 7,165.08, +56.68 (+0.80%)
NYSE Composite: 22,934.55, -18.19 (-0.08%)

For the Week:
Dow: -216.72 (-0.44%)
NASDAQ: +368.12 (+1.50%)
S&P 500: +39.02 (+0.55%)
NYSE Composite: -263.19 (-1.13%)
Dow Transports: -1530.10 (-6.82%)

Disclaimer: Information disseminated on this site should not be construed as investment advice. Downtown Magazine Inc., Money Daily and it's owners, affiliates and/or employees are not investment advisors and do not offer specific investment advice. All investments have risk. You should consult a professional investment advisor or stock broker or use your individual judgement when making investment decisions. By viewing this site, you hold harmless Downtown Magazine Inc., Money Daily, its owners, affiliates and employees against any and all liability. Copyright 2026, Downtown Magazine Inc., all rights reserved.

Stocks Look to End Week On Positive Note After Up-and-Down Sessions; Intel Soars, Iran Possible Breakthrough Reported

Heading into the final session of the week, stocks have had a roller coaster ride. Through Thursday's close the Dow Jones Industrials have lost 137 points on the week, NASDAQ is off 30, and the S&P 500 is down 17 points. For all the volatility, stocks are essentially flat, which suggests that the only people making money are the sharp swing traders, who, in a market that's been pushed in either direction on an intraday basis, can profit nicely if they know what they're doing.

For a wider, more insane view of what's happening in different markets, consider that the Dow Transports are down a whopping 1331 points, a nearly six percent decline, owing largely to reporting by airline stocks (UAL, LUV, AAL) which have suffered declines of 10-12 percent just this week. Thus, it pays to be in the right sectors, no matter how one is trading.

This kind of uncertainty in markets isn't good for individual active investors, though it has benefitted passive patient ones who don't trade often and are reluctant to take profits, even at all-time highs, which is right where stocks currently reside.

As far as Trump tweets or truths are concerned, the prescient president must have not slept well, as at 1:13 am Friday, he posted this:

The Southern Poverty Law Center, one of the greatest political scams in American History, has been charged with FRAUD. This is another Democrat Hoax, along with Act Blue, and many others. If it is true, the 2020 Presidential Election should be permanently wiped from the books and be of no further force or effect! Thank you for your attention to this matter. President DJT

It's refreshing to think that the president has more on his mind than blowing civilizations back to the stone age. The SPLC has been on his "unfriendly" list for some time and he's finally getting some well-deserved satisfaction.

That has nothing to do with stocks or finances, however, though it appears to be a step in the right direction.

On the warfront, signals coming out of Iran suggest that a delegation may actually find its way to Islamabad over the weekend. Reports are unconfirmed, but stock futures appear to be in favor of it, with Dow futures up 118, NASDAQ futures up 300, and S&P futures ahead by 15 points, though all three are off their earlier highs.

What may be the biggest stock story is Intel (INTC), which reported after the close Thursday, and is ripping higher premarket, to levels not seen since late 2000. It is being quoted pre-market at $83.33, +24.78%. Larry Ellison is smiling.

Friday, before the open the following companies reported first quarter earnings:
Proctor & Gamble (PG) - earnings beat, up 3% pre-market
Norfolk Southern (NSC) - profits, revenue, in-line, stock down 1%
Western Union (WU) - stock is trading below $10, down 9% pre-market
HCA Healthcare (HCA) - poor report, stock sliding 8%
Gentex (GNTX) - beat, revenue outlook positive, stock soaring 6.5%
Charter Communications (CHTR) - Loses 51,000 Pay TV Subscribers in 1Q, down 4.5%

Plenty out there to like, a few shorts available, making for an active session to close the week.

At the Close, Thursday, April 23, 2026:
Dow: 49,310.32, -179.71 (-0.36%)
NASDAQ: 24,438.50, -219.06 (-0.89%)
S&P 500: 7,108.40, -29.50 (-0.41%)
NYSE Composite: 22,952.74, -49.04 (-0.21%)

Corruption in Markets and Government Has Never Been as Bad as Right Now

Thursday morning, the following post appeared on Money Daily's X.com screen. It was read and checked for veracity and seemed legitimate enough. The post was made by the X account "gothburg", by a Peter Girnus. A search for "Peter Girnus" directed, in the very first search result, to the website: https://www.petergirnus.com. The site is legitimate and links back to the correct X account.

At the very least, the narrative is accurate about the suspicious trades being made minutes before President Trump's "truths" on Truth Social or significant market-timing events. Others have written or reported about the strange accuracy of these same or similar trades.

It's important enough that it needs to be widely circulated. Whether there is ever an investigation into the alleged "insider" trades is probably a moot point. Even if the president himself, or his sons, or any of his senior staff was found to have acted on insider information, nothing will be done. There will be no prosecution, no trial, and no jail time. This is the America in which we all now suffer. It is corrupt at the very highest levels of the government. It uses the military to carry out its evil doings in order to make money in stocks and commodities. It is arguably the worst government that has ever existed in the world, and there have been many, very, very bad ones.

American citizens must make a choice. They must individually choose to remain silent and allow corruption in government to continue or do something about it, which can range from the simple act of reposting a tweet to informing friends and colleagues who may not be as deeply involved in finance or politics, to other forms of civil disobedience.

The risk is high. The U.S. government monitors everything and they do not tolerate those who stray from the official narrative. They would like the entire citizenry to back the war with Iran. Fortunately, polls show that roughly two-thirds of Americans do not, yet the war and the violence, and the death and destruction continue. Nobody has taken a poll on whether U.S. citizens are in favor of insider trading by government officials or generally corrupt activities that amount to gross market manipulation, but it's likely 85-90% or more would not favor such actions.

This is your world. Your money. Your government. What you choose to do or not do, now that the knowledge has been presented and is plain to see, is your choice. Enough has been said.

I have three monitors on my desk. The left one shows the order book. The middle one shows Truth Social. The right one shows the investigation queue.

On April 21st, the left screen moved first.

I am a Senior Surveillance Analyst at a commodities exchange. I have held this…

— Peter Girnus 🦅 (@gothburz) April 23, 2026

After reading this and having been following suspect trading patterns, insider deals, high-level corruption for years, it makes reporting the more mundane events, like quarterly reports, employment data, and other economic reports seem nearly worthless activity. Anyone can watch CNBC or Fox Business or Bloomberg and get the information without the commentary, become a drone investor and play along.

At the Close, Wednesday, April 22, 2026:
Dow: 49,490.03, +340.65 (+0.69%)
NASDAQ: 24,657.57, +397.60 (+1.64%)
S&P 500: 7,137.90, +73.89 (+1.05%)
NYSE Composite: 23,001.78, +49.81 (+0.22%)