market wrap 05.26.23

Has the Bank of England lost control of inflation? Story in The Telegraph

China and the US are both putting national security above the economy. Story in Markets Insider

Has China’s Xi planned for Indo-Pacific domination? Story in The Hill

The DOW closed at 33,093.34 – up 328.69

The S&P 500 closed at 4,205.45 – up 54.17

The S&P 1500 955.54 – up 12.09

The NASDAQ-100 closed at 14,298.41 – up 359.88

The Russell 2000 closed at 1,773.02 – up 18.49

The VIX closed at 18.02 – down 1.12

Apple (AAPL) closed at 175.43 – up 2.44

Caterpillar (CAT) closed at 211.80 – up 1.82

Micron Technology (MU) closed at 73.93 – up 4.32

Energy Transfer (ET) closed at 12.65 – down 0.08

Palantir (PLTR) closed at 13.65 – up 0.81

Pioneer Natural Resources (PXD) closed at 207.93 – up 0.33

Microsoft (MSFT) closed at 332.89 – up 6.97

Snap Inc (SNAP) closed at 10.28 – up 0.50

October WTI closed at 72.32 – up 0.41

November WTI closed at 71.92 – up 0.89

market chart

July Corn closed at 604’0 – up 13’2

July Wheat closed at 616’0 – up 11’6

July Soybeans closed at 1337’2 – up 13’2

August Soybeans closed at 1261’0 – up 11’2

market wrap 05.24.23

The S&P 500 is already signalling an oncoming recession, according to top economist David Rosenberg. Story in Markets Insider

nyse

Debt ceiling dilemma maybe. Who to buy all the Treasury bills? Story in Market Watch

The DOW closed at 32,764.65 – down 35.27

The S&P 500 closed at 4,151.28 – up 36.04

The S&P 1500 closed at 943.53 – up 7.56

The NASDAQ-100 closed at 13,938.53 – up 334.05

The Russell 2000 closed at 1,754.60 – down 12.40

The VIX closed at 19.03 – down 1.00

Apple (AAPL) closed at 172.99 – up 1.15

Caterpillar (CAT) closed at 209.98 – up 0.25

Micron Technology (MU) closed at 69.61 – up 3.08

Energy Transfer (ET) closed at 12.73 – down 0.07

Occidental Petroleum (OXY) closed at 58.81 – down 0.57

Palantir (PLTR) closed at 12.84 – up 0.61

SoundHound AI (SOUN) closed at 2.98 – unch

September WTI closed at 71.80 – down 2.21

October WTI closed at 71.51 – down 2.10

market chart

July Corn closed at 590’6 – up 3’4

July Wheat closed at 604’2 – down 2’0

July Soybeans closed at 1324’0 – down 0’4

August Soybeans closed at 1249’6 – down 9’0

September Soybeans closed at 1183’6 – down 11’6

market wrap 05.24.23

U.S. Treasury Secretary Janet Yellen continues to beat the drum on rapidly depleting federal treasury cash reserves. Story in The Street

The evidence is piling up that most people do not believe Joe Biden is mentally or physically fit to serve a second term as president of the United States. Story in 1945

Yellen

What’s going the way of video stores and pay telephone booths? Bank branches. Story in The Street

The DOW closed at 32,799.92 – down 255.59

The S&P 500 closed at 4,115.24 – down 30.34

The S&P 1500 closed at 935.97 – down 7.16

The NASDAQ-100 closed at 13,604.48 – down 68.06

The Russell 1000 closed at 2,252.21 – down 16.46

The Russell 2000 closed at 1,767.00 – down 20.71

The VIX closed at 20.03 – up 1.50

Apple (AAPL) closed at 171.84 – up 0.28

Caterpillar (CAT) closed at 209.70 – down 3.01

Marathon Digital (MARA) closed at 9.43 – up 0.11

Micron Technology (MU) closed at 66.53 – up .52

Energy Transfer (ET) closed at 12.80 – up 0.04

Occidental Petroleum (OXY) closed at 59.39 – down 0.29

Palantir (PLTR) closed at 1.23 down 0.41

September WTI closed at 73.86 – up 1.28

October WTI closed at 73.48 – up 1.29

July Corn closed at 587’2 – up 9’6

July Wheat closed at 606’2 – down 16’0

July Soybeans closed at 1324’4 – up 2’0

August Soybeans closed at 1258’6 – unch

September Soybeans closed at 1195’4 – down 2’6

market wrap 05.23.23

Jamie Dimon says interest rates to keep going up. Story in Benzinga

oil well

The DOW closed at 33,055.51 – down 231.07

The S&P 500 closed at 4,145.58 – down 47.05

The NASDAQ-100 closed at 13,672.54 – down 177.21

The Russell 2000 closed at 1,787.71 – down 7.67

The VIX closed at 18.53 – up 1.32

Apple (AAPL) closed at 171.56 – down 2.64

Caterpillar (CAT) closed at 212.71 – down 1.57

Marathon Digital closed at 9.32 – down 0.35

Energy Transfer (ET) closed at 12.76 – up 0.03

Palantir (PLTR) closed at 12.64 – up 0.80

Microsoft (MSFT) closed at 315.26 – down 5.92

Snap Inc (SNAP) closed at 9.80 – up 0.04

October WTI closed at 72.19 – up 0.91

November WTI closed at 71.76 – up 0.89

December WTI closed at 71.34 – up 0.88

market chart

July Corn closed at 577’4 – up 6’4

July Wheat closed at 622’2 – up 16’0

July Soybeans closed at 1322’4 – down 18’6

August Soybeans closed at 1258’6 – down 16’6

overnight market watch 05.23.23

Ed Yardeni talks of AI “Roaring 20’s”. Video on CNBC

Days go by and the same refrain comes back from Washington: still no agreement. Story in The Street

Cash looked at as well as yields. Video in CNBC

US Stock Futures are lower.

The VIX is higher.

Bitcoin is above $27,000.

Oil is lower.

Gold lower; Silver lower.

Copper lower; Aluminum lower.

Russia has decreased their interest in the US Dollar.

US debt ceiling talks to continue.

market wrap 05.22.23

Yellen warns bankers of debt ceiling default consequences. Story in Axios

Europe and climate change activism has changed. Story in The Telegraph

The DOW closed at 33,286.58 – down 140.05

The S&P 500 closed at 4,092.63 – up 0.65

The S&P 1500 closed at 953.46 – up 0.50

The NASDAQ-100 closed at 13,849.74 – up 46.25

The Russell 2000 closed at 1,794.50 – up 20.78

The VIX closed at 17.39 – up 0.52

Apple (AAPL) closed at 174.20 – down 0.96

Caterpillar (CAT) closed at 214.27 – down 0.66

Micron Technology (MU) closed at 66.23 – down 1.94

Energy Transfer (ET) closed at 12.73 – down 0.03

Microsoft (MSFT) closed at 321.18 – up 2.84

September WTI closed at 71.67 – up 0.36

October closed at 71.29 – up 0.35

November WTI closed at 70.88 – up 0.33

market chart

July Corn closed at 571’0 – up 16’4

July Wheat closed at 606’2 – up 1’2

July Soybeans closed at 1341’2 – up 34’0