market wrap 05.18.23

China, and the long-term challenge Beijing poses to Britain’s wellbeing, was another issue that was a central feature of Liz Truss’s global outlook. Story in The Telegraph

Democrats and Republicans are racing to resolve a political emergency. Story in The Washington Post.

Mohamed El-Erian says the discord between the Fed and investors may be turbulent for the market. Story in Markets Insider

The DOW closed at 33,535.91 – up 115.14

The S&P 500 closed at 4,195.05 – up 39.28

The S&P 1500 closed at 954.95 – up 8.93

The NASDAQ-100 closed at 13,834.62 – up 245.35

The Russell 2000 closed at 1,785.46 – up 10.96

The VIX closed at 16.17 – down 0.70

Apple (AAPL) closed at 175.05 – up 2.36

Caterpillar (CAT) closed at 214.72 – up 2.62

Micron Technology (MU) closed at 67.57 – up 2.65

Energy Transfer (ET) closed at 12,72 – up 0.19

Occidental Petroleum (OXY) closed at 58.25 – down 0.67

Palatir (PLTR) closed at 11.74 – up 1.49

September WTI closed at 71.74 – down 0.74

October WTI closed at 71.37 – down 0.73

market chart

July Corn closed at 555’2 – down 6’2

July Wheat closed at 611’6 – down 13’6

July Soybeans closed at 1333’2 – down 3’6

August Soybeans closed at 1269’4 – down 5’2

market wrap 05.16.23

Stones River National Battlefield – Murfreesboro, TN – May 9, 2023

Is investor sentiment pointing to a bull rally? Story in Markets Insider

The relationship between Taiwan and the US will be an important factor in influencing if and when China attempts to annex the self-governing island. Story in The Guardian

Big Short’ investor Michael Burry piled into First Republic, PacWest, and other ailing bank stocks. Story in Markets Insider

An Afghan national on the U.S. terror watch list was apprehended while illegally crossing the U.S.-Mexico border in California. Story in Newsweek

The DOW closed at 33,012.14 – down 336.46

S&P 500 closed at 4,109.90 – down 26.38

market wrap 05.12.23

Apple is opening its first online store in Vietnam. Story in SeekingAlpha

G-7 finance ministers and central bank chiefs are locked in three days of meetings in Niigata. A new partnership on supply chains is expected.

Money supply growth fell again in March. Story in SeekingAlpha

The DOW closed at 33,300.62 – down 8.89

The S&P 500 closed at 4,124.08 – down 6.54

The S&P 1500 closed at 937.75 – down 1.44

The Nasdaq-100 closed at 13,340.18 – down 49.60

The Russell 2000 closed at 1,740.85 – down 3.86

The VIX closed at 17,05 – up 0.12

Apple (AAPL) closed at 172.57 – down 0.94

Caterpillar (CAT) closed at 209.54 – down 0.46

Energy Transfer (ET) closed at 12.32 – down 0.02

Palantir (PLTR) closed at 9.50 – down 0.38

Marathon Digital (MARA) closed at 8.92 – up 0.19

September WTI closed at 69.59 – down 0.80

October WTI closed at 69.15 – down 0.84

market chart

July Corn closed at 586’2 – up 4’0

July Wheat closed at 635’0 – up 7’6

July Soybeans closed at 1390’0 – down 15’4

August Soybeans closed at 1318’2 – down 19’0

market wrap 05.11.23

Mohamed El-Erian says the US is in the second stage of the banking turmoil. Story in Markets Insider

Stocks will drop as the economy is either about to enter a recession or the Fed is poised to keep rates higher. Story in Markets Insider

Stones River National Battlefield – Murfreesboro, TN

Tom Barkin, president of the Federal Reserve Bank of Richmond, said he is also seeing some signs that banks in his region — which includes Virginia, North Carolina, South Carolina and West Virginia — are slowing their lending. Story in The Associated Press

The DOW closed at 33,309.51 – down 221.82

The S&P 500 closed at 4,130.62 – down 7.02

The S&P 1500 closed at 939.19 – down 1.96

The Nasdaq-100 closed at 13,389.78 – up 41.95

The Russell 2000 closed at 1,744.71 – down 14.81

The VIX closed at 16.93 – down 0.01

Apple (AAPL) closed at 173.75 – up 0.02

Caterpilllar (CAT) closed at 210.03 – down 3.17

Energy Transfer (ET) closed at 12.34 – down 12.34

Palantir (PLTR) closed at 9.88 – down 0.06

market chart

July Corn closed at 582’2 – down 11’6

July Wheat closed at 627’2 – down 14’0

July Soybeans closed at 1405’4 – up 1’4

market wrap 05.05.23

The DOW closed at 33,674.38 – up 546.64

The S&P 500 closed at 4,136.25 – up 75.03

The S&P 1500 closed at 941.07 – up 17.11

Nasdaq-100 closed at 13,259.13 – up 276.65

The Russell 2000 closed at 1,759.91 – up 41.10

The VIX closed at 17.02 – down 3.07

Apple (AAPL) closed at 173.57 – up 7.78

Caterpillar (CAT) closed at 215.09 – up 4.71

Energy Transfer (ET) closed at 12.36 – up 0.06

Occidental Petroleum (OXY) closed at 60.69 – up 1.99

Microsoft (MSFT) closed at 310.65 – up 5.24

September WTI closed at 70.63 – up 2.63

October WTI closed at 70.24 – up 2.82

market chart

July Corn closed at 596’4 – up 7’4

July Wheat closed at 660’2 – up 15’2

July Soybeans closed at 1436’4 – up 18’6

overnights 05.05.23

It’s finally real for Aaron Rodgers. Story in The Cold Wire

Biden administration rule changes for home buyers not sitting too well. Story in Washington Examiner

Billionaire Stanley Druckenmiller says a hard-landing is in the cards. Story in TipRanks

Jamie Dimon looks at bank situation. Story in The Telegraph

Gold and Silver lower.

Copper lower; Aluminum higher.

US Stock Futures are higher.

The VIX is lower.

Bitcoin is above $29,000.

Oil is higher.

Corn, Wheat, Soybeans are higher.

EUR-USD is above 1.1000.

GBP-USD is above 1.2600.