Looks like the market started off in the red and spent most of the day trying to claw back to the green side. Took most of the day but the SP 500 finally got on the plus side. Appears the DOW did decently and the NASDAQ gained back a decent amount from where it started.
Wow! Worse than I thought by a longshot! https://ktla.com/news/california/wi...st-palisades-fire-more-strong-winds-expected/ Damage estimate Authorities are still investigating the causes of both fires and trying to calculate the historical cost of the damage, which could be the nation’s costliest ever. A preliminary estimate by AccuWeather put the damage and economic losses between $135 billion and $150 billion. In an interview that aired Sunday on NBC, Gov. Gavin Newsom said the fires could end up being the worst natural disaster in U.S. history. “I think it will be in terms of just the costs associated with it, in terms of the scale and scope,” he said.
This link really puts the scope of the damage into perspective: https://ktla.com/news/california/wildfires/palisades-eaton-wildfire-damage-maps/
Over the last 3-4 weeks nothing much in the markets has been about reality. ALL the fear-mongering and DOOM&GLOOM is mostly based on nothing but headlines and media negativity.....and a nasty SKEPTICISM......that seems to underlie and dominate the markets. In a REAL WORLD environment the news and actual results we have been seeing over that time would be considered very positive. I would say that at least 80-90% of all the economic news we have seen over the past month is very positive. The news today is no different......another positive economic report is the key item in the market news today. It totally fly's in the face of all the recent negativity and headlines and articles. BUT when it comes to the modern markets and the HUGE impact of the 24/7 media....reality does not matter. It is all.....form over substance. BUT......reality or not the day to day negative story-line is very dangerous and has legs. Anyway.....here is the story of the day today. PPI shows wholesale inflation increased less than expected in December https://finance.yahoo.com/news/ppi-...less-than-expected-in-december-133720234.html (BOLD is my opinion OR what I consider important content) "Wholesale prices rose less than expected in December, a positive sign for the economy amid recent market fears that inflation isn't falling as quickly as hoped to the Federal Reserve's 2% target. Tuesday's report from the Bureau of Labor Statistics showed that its producer price index (PPI) — which tracks the price changes companies see — rose 3.3%% from the year prior, up from the 3% seen in November but below the 3.5% increase economists had projected. On a monthly basis, prices increased 0.2%, below the 0.4% increase economists had expected. Excluding food and energy, "core" prices rose 3.5% year-over-year, above November's 3.4% gain. Economists had expected an increase of 3.8%. Meanwhile, month-over-month core prices were unchanged, below the 0.3% increase economists had expected and the 0.2% gain seen last month. Capital Economics North America economist Thomas Ryan noted the release "seems encouraging" but it also "masks some price jumps in a few of the key components which feed directly into the Fed’s preferred core PCE inflation gauge." Notably, domestic and international airfare prices — which feed into the Fed's preferred inflation gauge, the Personal Consumption Expenditures (PCE) index — jumped in December. Morgan Stanley's economics team moved up their core PCE inflation forecast for December following the release. The firm now believes prices increased 0.23% month-over-month in December, up from the 0.21% they projected prior to the release. Thursday's PPI reading comes one day ahead of a highly anticipated release of the December Consumer Price Index (CPI). Economists expect that print to show little progress, with core inflation anticipated to come in at 3.3% on an annual basis for the fifth straight month. More-detailed forecasts on PCE will be updated following the CPI release on Wednesday. Nationwide senior economist Ben Ayers argued that Tuesday's softer-than-expected PPI should temper the "higher end of expectations for tomorrow's CPI report." A recent hot labor report has economists largely believing signs of cooling inflation in the coming months will be required for the Fed to cut interest rates further this year. As of Tuesday morning, markets were pricing in just a 3% chance the Fed cuts rates at its January meeting, per the CME FedWatch Tool. Markets don't see a more than 50% chance the Fed cuts rates at a meeting until at least June. MY COMMENT As usual......never-mind. We will just move on to something else to fear-monger and freak out the markets.
This is a nice historical account of the stock and bond markets here in the USA.....from before the Civil War to now. A Guide for Investment Analysts: The Prehistory of the US Markets https://blogs.cfainstitute.org/inve...nt-analysts-the-prehistory-of-the-us-markets/
At this early point in the day I have a single RED stock....COST. Although NVDA is trying to go red.......and......just did.
As to NVDA......it continues to be treated like some also-ran stock by the markets. Talk about total disrespect. Here is the next HUGE event for NVDA this Thursday: TSMC fourth-quarter profit seen jumping 58% amid strong AI chip demand https://finance.yahoo.com/news/tsmc-fourth-quarter-profit-seen-051539944.html
