Due almost entirely to a stunning November non-farm payroll report, Friday's massive gains offset the losses incurred on the main US indices earlier in the week, leaving the Dow and NASDAQ with minimal losses and the S&P and NYSE Composite with smallish gains for the week.
With the prior month's job gains calculated to be 266,000, there was a great deal of encouragement for the US economy, despite almost no progress in US-China trade talks.
Though the week was a tumultuous one, ending with a bang, the overall arc was about as noticeable as the earth's curvature from a three-story building.
While stocks were going nowhere, crude caught a bid, as Saudi Arabia and OPEC nations vowed to cut another 500,000 barrels a day production in the first quarter of 2020. The move was seen as bullish for crude, though the cohesion of OPEC members remains questionable. The Saudi's are convinced that some members are failing to meet promised production cuts, putting lid on global oil prices. WTI crude oil closed out the week at $59.07. Gas prices shot up across the United States and Europe.
As is usually the case, gold and silver were beaten down during Friday's stock ramping. Gold ended at $1,458.40 per ounce, while silver bit the dust at $16.49.
Bonds were also whipsawed, with the 10-year note lost 11 basis points on Monday, with yield dropping from 1.83% to 1.72%, only to see it all eviscerated by Friday, finishing the week at 1.84%.
All markets appeared to be on unstable ground as the holiday season progressed and such condition may persist for the foreseeable future. The impeachment of President Trump continues apace in the House of Representatives, the trade war is likely to get hotter, holiday shopping usually lulls during the second and third week of December, and protests in Hong Kong and France (and in many other countries, over various issues) are taking a toll.
Oddly enough, America's mainstream media wishes to have nothing to do with protests in other countries, perhaps hoping that by not airing real news, Americans will not get any ideas about speaking up on issues that affect them. None of the major TV networks allowed any air time to the French protests over pensions, nor did the Washington Post. It's as though 800,000 people protesting in Paris, while the massive public transportation system was halted due to striking workers, actually did not happen. Americans are being kept in the dark about international developments unless it somehow fits their narrow narrative of "impeach Trump" and "trade war bad."
It wasn't long ago - maybe 30 years or so - that the United States had a free, fair, and balanced press. Since media cross ownership rules were relaxed, first in 1975, again in 1996, and again in 2003, media ownership concentration has gotten to the point at which we are today, where six or seven companies control roughly 95% of all mainstream media. It's no wonder that Americans are perplexed about world affairs, economics, and politics. The powers in the media have conspired together to keep the general public blissfully ignorant.
The internet has changed where Americans look for news to some degree, but, the large media companies own or control much of that as well, making it difficult for the average person to discern what is real, what is opinion, and what is fake. Until the FCC rolls back the liberalization of ownership concentration rules, Americans are almost certain to be shielded from news and stories that those overseeing network conglomerates believe to be too dangerous, too damaging, or simply to controversial to air.
The status quo, deep-state owned media in America is second only to congress as its own worst enemy and it may become even worse during the coming election year.
At the Close, Friday, December 6, 2019:
Dow Jones Industrial Average: 28,015.06, +337.27 (+1.22%)
NASDAQ: 8,656.53, +85.83 (+1.00%)
S&P 500: 3,145.91, +28.48 (+0.91%)
NYSE Composite: 13,588.29, +105.99 (+0.79%)
For the Week:
Dow: -36.35 (-0.13%)
NASDAQ: -8.94 (-0.10%)
S&P 500: +4.93 (+0.16%)
NYSE Composite: +43.08 (+0.32%)
Showing posts with label mainstream media. Show all posts
Showing posts with label mainstream media. Show all posts
Sunday, December 8, 2019
Sunday, August 26, 2018
Despite Deep State and Media Trump Hatred, US Economy Continues Expansion
Stocks made steady advances through the week and were especially profitable on Friday, as the NASDAQ and S&P 500 reached all-time closing highs.
The week also marked an historic moment on Wednesday, when the current S&P 500 became the longest bull market in US history, though the celebration was largely muted and overshadowed by fake news concerning President Trump.
While Washington and the mainstream media remains focused on unseating a duly-elected president, Wall Street is making hay while the sun shines, living large in the light under Trump's easy fiscal and tough trade policies which have put more money in the pockets of American workers, upset the global status quo, and spurred a delightful rally since he won the presidency in November, 2016.
Many deep state politicians and the loathsome mainstream media seem to be on another planet when it comes to politics and the economy. While middle America is flourishing after years of mismanagement under presidents Bush and Obama, they look the other way when it comes to Trump, refusing to acknowledge his various successes, instead plowing ahead with false narratives that run the gamut from colluding with Russia during the 2016 campaign to steamy affairs with a porn star and a Playboy playmate.
Politicians on the left and even many so-called RHINO Republicans seem content to spend most of their time fomenting fear and hatred. At the same time, Wall Street remains unimpressed and without concern over the political hijinks and wasted efforts to impeach or impair the Trump presidency.
It's a sad state of affairs when the dominant media can only produce stories that are shakily superficial and barely believable. If anything unsettles markets, it would likely come from the swamp creatures in DC and the media, though as of yet, investors and the general US population aren't buying it.
Approaching the final week of unofficial summer, markets are robust but heavily overvalued. Profits since the last recession and the 2008-09 financial crisis have been all too easy. Market veterans know just how quickly good times can turn bad, although since the downturn in February and March there's been little thought or discussion about booking profits, moving to cash positions, or consolidating gains in any concerted fashion.
Bonds have been stable, precious metals have gone into a long, deep reversion, and inflation is not overwhelming. Outside of high valuations and the constant attacks on President Trump, the US economy appears as healthy as it has been in the past 20 years.
Dow Jones Industrial Average August Scorecard:
At the Close, Friday, August 24, 2018:
Dow Jones Industrial Average: 25,790.35, +133.37 (+0.52%)
NASDAQ: 7,945.98, +67.52 (+0.86%)
S&P 500: 2,874.69, +17.71 (+0.62%)
NYSE Composite: 12,999.44, +65.98 (+0.51%)
For the Week:
DOW: +121.03 (+0.47%)
NASDAQ: +125.65 (+1.66%)
S&P 500: +24.56 (+0.86%)
NYSE Composite: +91.18 (+0.71%)
The week also marked an historic moment on Wednesday, when the current S&P 500 became the longest bull market in US history, though the celebration was largely muted and overshadowed by fake news concerning President Trump.
While Washington and the mainstream media remains focused on unseating a duly-elected president, Wall Street is making hay while the sun shines, living large in the light under Trump's easy fiscal and tough trade policies which have put more money in the pockets of American workers, upset the global status quo, and spurred a delightful rally since he won the presidency in November, 2016.
Many deep state politicians and the loathsome mainstream media seem to be on another planet when it comes to politics and the economy. While middle America is flourishing after years of mismanagement under presidents Bush and Obama, they look the other way when it comes to Trump, refusing to acknowledge his various successes, instead plowing ahead with false narratives that run the gamut from colluding with Russia during the 2016 campaign to steamy affairs with a porn star and a Playboy playmate.
Politicians on the left and even many so-called RHINO Republicans seem content to spend most of their time fomenting fear and hatred. At the same time, Wall Street remains unimpressed and without concern over the political hijinks and wasted efforts to impeach or impair the Trump presidency.
It's a sad state of affairs when the dominant media can only produce stories that are shakily superficial and barely believable. If anything unsettles markets, it would likely come from the swamp creatures in DC and the media, though as of yet, investors and the general US population aren't buying it.
Approaching the final week of unofficial summer, markets are robust but heavily overvalued. Profits since the last recession and the 2008-09 financial crisis have been all too easy. Market veterans know just how quickly good times can turn bad, although since the downturn in February and March there's been little thought or discussion about booking profits, moving to cash positions, or consolidating gains in any concerted fashion.
Bonds have been stable, precious metals have gone into a long, deep reversion, and inflation is not overwhelming. Outside of high valuations and the constant attacks on President Trump, the US economy appears as healthy as it has been in the past 20 years.
Dow Jones Industrial Average August Scorecard:
| Date | Close | Gain/Loss | Cum. G/L |
| 8/1/18 | 25,333.82 | -81.37 | -81.37 |
| 8/2/18 | 25,326.16 | -7.66 | -89.03 |
| 8/3/18 | 25,462.58 | +136.42 | +55.05 |
| 8/6/18 | 25,502.18 | +39.60 | +94.65 |
| 8/7/18 | 25,628.91 | +126.73 | +221.38 |
| 8/8/18 | 25,583.75 | -45.16 | +176.22 |
| 8/9/18 | 25,509.23 | -74.52 | +101.70 |
| 8/10/18 | 25,313.14 | -196.09 | -94.39 |
| 8/13/18 | 25,187.70 | -125.44 | -219.83 |
| 8/14/18 | 25,299.92 | +112.22 | -107.61 |
| 8/15/18 | 25,162.41 | -137.51 | -245.12 |
| 8/16/18 | 25,558.73 | +396.32 | +151.20 |
| 8/17/18 | 25,669.32 | +110.59 | +261.79 |
| 8/20/18 | 25,758.69 | +89.37 | +351.16 |
| 8/21/18 | 25,822.29 | +63.60 | +414.76 |
| 8/22/18 | 25,733.60 | -88.69 | +326.07 |
| 8/23/18 | 25,656.98 | -76.62 | +249.45 |
| 8/24/18 | 25,790.35 | +133.37 | +382.82 |
At the Close, Friday, August 24, 2018:
Dow Jones Industrial Average: 25,790.35, +133.37 (+0.52%)
NASDAQ: 7,945.98, +67.52 (+0.86%)
S&P 500: 2,874.69, +17.71 (+0.62%)
NYSE Composite: 12,999.44, +65.98 (+0.51%)
For the Week:
DOW: +121.03 (+0.47%)
NASDAQ: +125.65 (+1.66%)
S&P 500: +24.56 (+0.86%)
NYSE Composite: +91.18 (+0.71%)
Wednesday, May 17, 2017
Wall Street Tumbles Most This Year; Treasuries, Gold Rally
Sure enough, being the contrary indicator for which Money Daily has become legendary, as soon as this blog issued the "all clear," circa the past two days - citing that the Fed has Wall Street's back - then the bottom falls completely out of the market.
While today's massive declines could be nothing more than a case of jitters over the Washington establishment's fixation on making President Trump's life a living hell, or, a simple matter of profit taking, there's some indication that both may be partially true.
As usual, with everything related to stocks and finance since roughly the year 2000, there's insufficient information upon which to make a decisive call. One day's worth of declines by no means indicates anything fundamentally wrong, and it's likely that this current bout of market indigestion will blow over with the next data release.
Moreover, given that the mainstream media is chock full of creeps, fabricators and liars, it wouldn't be beyond the pale for financial media to be right in the middle of the "fake news" mix. To the point, the headline on Yahoo Finance at today's market close screams, "Stocks tumble as Trump worries Wall Street," as if it's the President himself causing consternation among international financiers, when in fact, it is the news media itself promulgating questionable narratives surrounding the President and his administration.
Thus, there may be something more compelling afoot. Perhaps some of the more recent data releases haven't been particularly rosy, or maybe somebody deep inside the global financial establishment knows something of which the general public isn't keenly aware. That insiders would know more than the public is undeniably true; whether or not there's something big about to occur - and this was just cover for a deeper dive - is a matter of great conjecture.
On the surface, that doesn't seem to be the case. Tuesday's releases showed that capacity utilization and industrial production both beat expectations, but housing starts and building permits missed the mark. Wednesday's release of crude inventories (a drawdown) and mortgage applications (off by 4.1%) shouldn't have catalyzed the market into this kind of paroxysm.
What we do know is that the dollar index (97.456) fell again today (fifth straight decline) and has been below 100 for a full month. That's sent gold soaring (up nearly two percent today), with silver tagging along, though without as much gusto (+0.73%, 16.87/oz.). A falling dollar should be good for US companies, though that correlation hasn't always held true, because US imports in other countries' currencies would cost less.
We also know that today's losses were the worst of the year for the major indices and Treasuries were rallying, with the 10-year yield falling to 2.22% and the two-year moving down to 1.24%.
Thus, the crystal ball remains cloudy. Thursday's market action may be more telling. It's never too late to take a profit, nor is it ever too early to cut losses. Maybe Wall Street has come to its senses.
At the Close, 5/17/17:
Dow: 20,606.93, -372.82 (-1.78%)
NASDAQ: 6,011.24, -158.63 (-2.57%)
S&P 500: 2,357.03, -43.64 (-1.82%)
NYSE Composite: 11,423.54, -182.95 (-1.58%)
While today's massive declines could be nothing more than a case of jitters over the Washington establishment's fixation on making President Trump's life a living hell, or, a simple matter of profit taking, there's some indication that both may be partially true.
As usual, with everything related to stocks and finance since roughly the year 2000, there's insufficient information upon which to make a decisive call. One day's worth of declines by no means indicates anything fundamentally wrong, and it's likely that this current bout of market indigestion will blow over with the next data release.
Moreover, given that the mainstream media is chock full of creeps, fabricators and liars, it wouldn't be beyond the pale for financial media to be right in the middle of the "fake news" mix. To the point, the headline on Yahoo Finance at today's market close screams, "Stocks tumble as Trump worries Wall Street," as if it's the President himself causing consternation among international financiers, when in fact, it is the news media itself promulgating questionable narratives surrounding the President and his administration.
Thus, there may be something more compelling afoot. Perhaps some of the more recent data releases haven't been particularly rosy, or maybe somebody deep inside the global financial establishment knows something of which the general public isn't keenly aware. That insiders would know more than the public is undeniably true; whether or not there's something big about to occur - and this was just cover for a deeper dive - is a matter of great conjecture.
On the surface, that doesn't seem to be the case. Tuesday's releases showed that capacity utilization and industrial production both beat expectations, but housing starts and building permits missed the mark. Wednesday's release of crude inventories (a drawdown) and mortgage applications (off by 4.1%) shouldn't have catalyzed the market into this kind of paroxysm.
What we do know is that the dollar index (97.456) fell again today (fifth straight decline) and has been below 100 for a full month. That's sent gold soaring (up nearly two percent today), with silver tagging along, though without as much gusto (+0.73%, 16.87/oz.). A falling dollar should be good for US companies, though that correlation hasn't always held true, because US imports in other countries' currencies would cost less.
We also know that today's losses were the worst of the year for the major indices and Treasuries were rallying, with the 10-year yield falling to 2.22% and the two-year moving down to 1.24%.
Thus, the crystal ball remains cloudy. Thursday's market action may be more telling. It's never too late to take a profit, nor is it ever too early to cut losses. Maybe Wall Street has come to its senses.
At the Close, 5/17/17:
Dow: 20,606.93, -372.82 (-1.78%)
NASDAQ: 6,011.24, -158.63 (-2.57%)
S&P 500: 2,357.03, -43.64 (-1.82%)
NYSE Composite: 11,423.54, -182.95 (-1.58%)
Subscribe to:
Posts (Atom)
Posts
