Market Talk – December 5, 2024

December 5, 2024

Market Talk 2017

ASIA:
The major Asian stock markets had a mixed day today:
• NIKKEI 225 increased 119.21 points or 0.30% to 39,395.60
• Shanghai increased 4.21 points or 0.12% to 3,368.86
• Hang Seng decreased 182.02 points or -0.92% to 19,560.44
• ASX 200 increased 12.30 points or 0.15% to 8,474.90
• SENSEX increased 809.39 points or 1.00% to 81,765.72
• Nifty50 increased 240.95 points or 0.98% to 24,708.40
The major Asian currency markets had a mixed day today:
• AUDUSD increased 0.00199 or 0.31% to 0.64504
• NZDUSD increased 0.00120 or 0.20% to 0.58840
• USDJPY decreased 0.526 or -0.35% to 150.067
• USDCNY decreased 0.01405 or -0.19% to 7.26345
The above data was collected around 15:59 EST.
Precious Metals:
•  Gold decreased 18.67 USD/t oz. or -0.70% to 2,631.66
•  Silver increased 0.041 USD/t. oz. or 0.13% to 31.362
The above data was collected around 16:01 EST.
EUROPE/EMEA:
The major Europe stock markets had a green day today:
•  CAC 40 increased 27.26 points or 0.37% to 7,330.54
•  FTSE 100 increased 13.57 points or 0.16% to 8,349.38
•  DAX 30 increased 126.66 points or 0.63% to 20,358.80
The major Europe currency markets had a mixed day today:
• EURUSD increased 0.00742 or 0.71% to 1.05857
• GBPUSD increased 0.00512 or 0.40% to 1.27527
• USDCHF decreased 0.00575 or -0.65% to 0.87850
The above data was collected around 16:12 EST.

US/AMERICAS:

US Market Closings:

  • Dow declined 248.33 points or -0.55% to 44,765.71
  • S&P 500 declined 11.38 points or -0.19% to 6,075.11
  • Nasdaq declined 34.86 points or -0.18% to 19,700.26
  • Russell 2000 declined 30.39 points or -1.25% to 2,396.17

 

Canada Market Closings:

  • TSX Composite advanced 38.86 points or 0.15% to 25,680.04
  • TSX 60 advanced 2.02 points or 0.13% to 1,539.05

 

Brazil Market Closing:

  • Bovespa declined advanced 1,686.99 points or 1.34% to 127,774.01
ENERGY:
The oil markets had a mixed day today:
•  Crude Oil decreased 0.048 USD/BBL or -0.07% to 68.492
•  Brent decreased 0.107 USD/BBL or -0.15% to 72.203
•  Natural gas increased 0.043 USD/MMBtu or 1.41% to 3.0860
•  Gasoline decreased 0.003 USD/GAL or -0.15% to 1.9359
•  Heating oil decreased 0.0084 USD/GAL or -0.39% to 2.1565
The above data was collected around 16:06 EST.
•  Top commodity gainers: Coffee (4.19%), Palm Oil (2.40%), Cocoa (4.71%) and Canola (2.26%)
•  Top commodity losers: Oat (-4.90%), Cotton (-4.51%), Lumber (-1.83%) and Butter (-5.41%)
The above data was collected around 16:20 EST.
BONDS:
Japan 1.0730% (+2.02bp), US 2’s 4.15% (+0.010%), US 10’s 4.1790% (-0.2bps); US 30’s 4.34% (-0.010%), Bunds 2.0950% (+4.35bp), France 2.893% (-0.3bp), Italy 3.1890% (-2.3bp), Turkey 27.94% (+22bp), Greece 2.890% (-2bp), Portugal 2.503% (+0.6bp); Spain 2.750% (+0.8bp) and UK Gilts 4.2880% (+3.8bp)
The above data was collected around 16:24 EST.

Nature vs Geopolitical

December 5, 2024

2024_12_05_14_36_28_Powerful_Earthquake_Strikes_off_Coast_of_Northern_California_Triggering_Tsunami

QUESTION: Marty, you said December was a chaotic month that was geopolitical and the risk of major earthquakes in California. Is this what the computer was forecasting?

WJ

APPLE M 12 5 24

ANSWER: There is a cycle to everything. A 7.0-magnitude earthquake has just struck off the coast of Northern California on Thursday, triggering a tsunami warning. The U.S. Geological Survey (USGS) reported that the tremor hit about 60 miles west-southwest of Ferndale, California. It’s not clear if any damage or injuries were reported.

However, while the computer projected the natural events for this week, the last two weeks of the month appear to be the most significant and appear more worldwide, suggesting they are more closely related to geopolitical events rather than domestic ones. Overall, December has been the most significant target, as you can see in this array for Apple.

The computer first shocked our readers in 1985 when it projected that a minor earthquake correlated to the double earthquake in Mexico would then unfold in NYC. This clear correlation was more than 90% accurate in history.

MSNBC Views drops to 38,000?

December 5, 2024

Maddow Rachael

COMMENT: Well, Marty, the traffic on your site is now thousands of times higher than MSNBC.  Viewership dropped to just 38,000! Maybe you should buy MSNBC and give Rachel Maddow a broom and a mop to clean up the mess she has created.

Cheers

Paul

Maher Bill

REPLY: I would not let her take my dogs for a walk or pick up their waste. She was demanding $25 million and then bashed the rich, playing the Marxist Role of the Democrats. I call that hypocrisy. I wouldn’t even shake her hand. Meanwhile, Bill Maher said he may quit HBO, saying that he does not want to do any more coverage of Donald Trump.

DeGeneres Ellen

Then, Ellen DeGeneres allegedly emigrated to the U.K. following the 2024 presidential election. I guess she is a Stammer supporter against free speech and pro-war. Although a lesbian, it’s her right to have an abortion? We should pay for their one-way airfare to London.

Kamikaze AI Drones Released on Russian Troops

December 5, 2024

This is the type of AI that all leading experts have warned us about. German defense firm Helsing has announced it will provide Ukraine with 4,000 HX-2 “Karma” kamikaze drones this month. Germany’s Defense Minister Boris Pistorius said he had been “very pleased that the delivery of these drones equipped with artificial intelligence (AI) technology is already underway.”

With a top speed of 137 mph, these drones are capable of traveling up to 62 miles and can be loaded with various warheads for maximum destruction against armored vehicles, buildings, or platoons. The company states that these drones do not need a human operator, rather, they will be programmed to “search for, re-identify, and engage targets, even without a signal or a continuous data connection.” A human operator may “stay in the loop,” per the company’s messaging, but these weapons are designed to act autonomously.

“With HX-2, we have created a new smart effector that combines mass, autonomy and precision. Individual HX-2s can reliably engage armored targets in highly contested environments. When deployed along borders at scale, HX-2 can serve as a powerful counter invasion shield against enemy land forces,” Helsing’s co-founder Niklas Köhler stated. The other co-founder, Gundbert Scherf, said that NATO in particular has been eager for this technology. On one hand, the company says that these drones will retain human oversight, but on the other hand, the entire purpose of their design is to be autonomous.

Earlier prototypes have been used against Russian troops earlier this year. I believe there was a “Black Mirror” episode about this scenario. What happens when we have mass killing machines from both sides acting independently or without the need for human operators? Will nations take responsibility when these drones attack innocent civilians? Ironically, the company states that their vision is to “ethically protect common democratic values.”

NATO to Build Ammunition Plant in Lithuania

December 5, 2024

NATO vs. Russia

The nursing home for retired neocons, also known as NATO, continually disregards any offers for peace. Russia has been adamant that NATO must not back it into a corner or the situation could go nuclear. Yet, NATO has revealed plans to build another factory close to Russia’s border.

German-based Rheinmetall has partnered with NATO to build an artillery ammunition plant in Baisogala, Lithuania. The facility will be able to produce “tens of thousands of 155mm” artillery shells annually, according to Rheinmetall. The 180 million euro facility will open by the middle of 2026. These shells weigh around 100 pounds each and are two feet in length and NATO members have already provided Ukraine with hundreds of thousands of rounds. The United States alone has plans to generate 100,000 shells monthly and over 1 million annually, but only produced a few thousand annually prior to the war. This new facility will allow NATO to replenish stockpiles as the war wages on for years to come.

NATO claims that the strategic location would deter Russia from invading the Baltic States or attempting to cut them off from Poland through the Suwa ki Gap, a 60-mile stretch of land on the Poland-Lithuania border, located amid Belarus and Russia’s Kaliningrad. Kaliningrad has been completely encircled by NATO since Sweden and Finland joined the bloc.

“The establishment of the German defense industry company Rheinmetall’s ammunition factory in Lithuania is not only significant in the context of the defense industry’s development but will also address the needs of our armed forces,” said Lithuanian Minister of Defense Laurynas Kas i nas.

Belarus and Russia held joint exercises near the Suwalki Gap in 2022. Russia has been increasing its military presence in Kaliningrad over the years and believes it is on the defensive against NATO. The necons do not want peace with Russia. They are actively building facilities to instigate tensions and relay the message that their war will not end until they seize Russia – a goal that will fail.

Trump to Block Japanese Steel Deal and Place Tariffs on Chinese Steel

December 5, 2024

Steel

Nippon Steel, a Japanese company, has offered to buy US Steel for $14.9 billion, yet both President Joe Biden and president-elect Donald Trump strongly oppose the deal. Both men believe it is vital to keep the historic company domestic. But why has America’s steel industry become less competitive?

Demand for steel fell 0.4% YoY during the first half of 2024 to 50.9 million tons, with futures down 37% since the start of the year marking the lowest level since December 2022. Domestic demand is simply not there. The US accounts for about 4% of global demand while China accounts for an overwhelming 50%.

The majority of domestic demand is generated by government. The Infrastructure and Investment Jobs Act of 2021 provided $550 billion for steel-based initiatives which provided a boost to the industry. Still, the DEMAND is simply not there. China’s oversupply of steel has saturated the market and made the product far less valuable. China has less environmental and climate regulations and the government continues to provide large subsidies to support the measure. All of the carbon neutral measures are seriously hurting the industry, but China has not bought into the climate change agenda.

Exported steel from China doubled from 2020 to 2023 after reaching 94.5 million tons. Demand in China for 2023 was 911 million metric tons, marking a 50% increased from 2010. The machinery sector in China has been continuously rising, with its share of steel demand rising from 20% in 2010 to 30% in 2023.

Tariffs would make Chinese steel more expensive for American companies. That will not help to attract international investments in the industry. Then those costs will be passed on to all US industries relying on steel from automotives to construction. American manufacturing is at risk. It is believed that the tariffs Trump implemented on Chinese steel during his first term helped 1,000 steelworkers keep their jobs, but at the same time, manufacturing positions fell by 75,000. Yet another reason why we must look at the economy from macro standpoint as everything is connected.

Market Talk – December 4, 2024

December 4, 2024

Market Talk 2017

ASIA:
The major Asian stock markets had a mixed day today:
• NIKKEI 225 increased 27.53 points or 0.07% to 39,276.39
• Shanghai decreased 14.16 points or -0.42% to 3,364.65
• Hang Seng decreased 3.86 points or -0.02% to 19,742.46
• ASX 200 decreased 32.60 points or -0.38% to 8,462.60
• SENSEX increased 92.04 points or 0.11% to 80,937.79
• Nifty50 increased 10.30 points or 0.04% to 24,467.45
The major Asian currency markets had a mixed day today:
• AUDUSD decreased 0.00474 or -0.73% to 0.64391
• NZDUSD decreased 0.00222 or -0.38% to 0.58658
• USDJPY increased 0.509 or 0.34% to 150.123
• USDCNY decreased 0.02694 or -0.37% to 7.27286
The above data was collected around 13:12 EST.
Precious Metals:
•  Gold increased 7.7 USD/t oz. or 0.29% to 2,650.48
•  Silver increased 0.345 USD/t. oz. or 1.11% to 31.339
The above data was collected around 13:16 EST.
EUROPE/EMEA:
The major Europe stock markets had a mixed day today:
•  CAC 40 increased 47.86 points or 0.66% to 7,303.28
•  FTSE 100 decreased 23.60 points or -0.28% to 8,335.81
•  DAX 30 increased 215.39 points or 1.08% to 20,232.14
The major Europe currency markets had a mixed day today:
• EURUSD increased 0.00237 or 0.23% to 1.05322
• GBPUSD increased 0.00417 or 0.33% to 1.27152
• USDCHF decreased 0.00325 or -0.37% to 0.88320
The above data was collected around 13:23 EST.

US/AMERICAS:

US Market Closings:

  • Dow advanced 308.51 points or 0.69% to 45,014.04
  • S&P 500 advanced 36.61 points or 0.61% to 6,086.49
  • Nasdaq advanced 254.21 points or 1.3% to 19,735.12
  • Russell 2000 advanced 10.21 points or 0.42% to 2,426.56

 

Canada Market Closings:

  • TSX Composite advanced 5.45 points or 0.02% to 25,641.18
  • TSX 60 declined 0.33 of a point or -0.02% to 1,537.03

 

Brazil Market Closing:

  • Bovespa declined 65.14 points or -0.05% to 126,074.06

 

ENERGY:

The oil markets had a mixed day today:
•  Crude Oil decreased 1.105 USD/BBL or -1.58% to 68.835
•  Brent decreased 1.003 USD/BBL or -1.36% to 72.617
•  Natural gas increased 0.0027 USD/MMBtu or 0.09% to 3.0447
•  Gasoline decreased 0.0154 USD/GAL or -0.79% to 1.9446
•  Heating oil decreased 0.0404 USD/GAL or -1.83% to 2.1713
The above data was collected around 13:26 EST.
•  Top commodity gainers: Coffee (2.11%), Palm Oil (1.65%), Cocoa (3.97%) and Butter (2.75%)
•  Top commodity losers: Oat (-1.75%), Milk (-4.38%), Heating Oil (-1.83%) and Crude Oil (-1.58%)
The above data was collected around 13:40 EST.
BONDS:
Japan 1.0530% (-2.77bp), US 2’s 4.13% (-0.060%), US 10’s 4.1920% (-3.6bps); US 30’s 4.36% (-0.050%), Bunds 2.0510% (-0.4bp), France 2.895% (+0.05bp), Italy 3.2100% (-2.8bp), Turkey 27.72% (+21bp), Greece 2.894% (-0.6bp), Portugal 2.496% (-1.7bp); Spain 2.743% (-2.5bp) and UK Gilts 4.2500% (-0.11bp)
The above data was collected around 13:46 EST.

Majority of Americans Will NOT Take Updated COVID Vax

December 4, 2024

Vaccine Masks

Gone are the days when people queued for hours to receive the latest and greatest COVID vaccine to protect against the new strain of the season. A new poll by Pew Research Center has found that 60% of Americans will probably not take the updated vaccination.

There are the diehards who “trust the science,” with 24% saying they likely will receive an updated COVID injection and 15% already have. The Centers for Disease Control and Prevention was revered a few short years ago, but now, the majority is ignoring their guidelines, which state that EVERYONE older than six months of age should get vaccinated.

Republicans are less likely than Democrats to accept the vaccination at a rate of 81% to 39%. About 61% said they will not take the vaccination because they do not believe they need it. Studies have proven it does not prevent transmission or infection. What’s the point? Another 60% are understandably concerned about the potential life-altering or ending side effects.

2021_Biden_Unvaccinated_people_are_costing_all_of_us_presses_Covid_shot_mandates

The survey was taken before the House Select Subcommittee on the Coronavirus Pandemic wrapped up its two-year investigation. We can finally leave the bat theory to rest and stop blaming the pandemic on some wet market in China. The 520-page report concluded that COVID-19 “most likely emerged from a laboratory in Wuhan, China.”

The investigation also found that MASKS AND SOCIAL DISTANCING MEASURES WERE NOT BASED ON SCIENCE. “[P]rolonged lockdowns caused immeasurable harm to not only the American economy, but also to the mental and physical health of Americans, with a particularly negative effect on younger citizens.” Where is the outrage? We were unable to leave our homes or see our own family members due to these draconian laws based on NOTHING. Schools closed, businesses shut permanently, and the entire world came to a halt based on the guidelines from these corrupt health agencies. Dr. Fauci admitted he was uncertain where the six-foot separation guideline emerged from and shrugged it off as if it didn’t utterly change society on a global level.

The subcommittee has also pointed blame at the World Health Organization for lacking transparency in a bid to shield China from criticism. They cannot definitively say that the leak was deliberate nor can they say that governments were studying a bioweapon. But there are countless unanswered questions.

COVID to UKRAINE

The final report suggests that individual states may need to begin stockpiling their own medical supplies. Furthermore, they would like to move away from medicine exported from China. “Many of the medications taken by Americans are manufactured overseas. But further, the active ingredients in these medications, the chemical compounds used to make them, are overwhelmingly made in China. So much so that the supply has been described as China having ‘a global choke hold’ on the chemical components of medications distributed nationwide,” the report says.

It is improbable to think that this virus naturally spread globally at a rapid speed. All the COVID vaccine manufacturers took a major hit in the markets on the very day that Trump announced he was hiring Robert F. Kennedy to head the Department of Health and Human Services. Will they ever release the ingredients in the actual vaccine? Will those who demanded lockdowns, masking, and distancing without evidence face their day in court? Justice has NOT been served, and one can hope that those responsible will be prosecuted. The upside is that people have lost all trust in “the science” and are beginning to think independently.

South Korea’s Yoon Declared Martial Law – Overturned in Three Hours

December 4, 2024

SouthKoreaYoon

South Korean President Yoon Suk Yeol declared an “emergency martial law” on Tuesday without providing clear reasoning. Sources say that Yoon fears impeachment from the opposition party and this declaration is merely a way for him to buy time. “To safeguard a liberal South Korea from the threats posed by North Korea’s communist forces and to eliminate anti-state elements… I hereby declare emergency martial law,” Yoon announced. Parliament overturned the measure within three hours.

What happened was absolute pandemonium. One member of Parliament live-streamed himself climbing over the gates of parliament with the military behind him to cast his vote. Every member of parliament voted against the president’s actions, but Yoon is not going down without a fight. The police and military did not know how to respond after parliament overturned the measure. Parliament was forced to barricade themselves in the building until martial law was lifted. World leaders, the US in particular, frantically contacted Seoul to say they had no warning. Naturally, Korean stocks took a dive as confidence was violently shaken. Yoon was worried about impeachment before this spectacle, but how could he remain in power now?

Martial law would have prevented an immediate impeachment, or at least that is what Yoon had hoped. Under martial law, the National Assembly is severely limited, and it would be difficult to hold impeachment proceedings. Civil liberties were stripped from the people, who were unable to protest or organize to call for an impeachment. Yoon could have used the military to prevent any dissent. He has already painted his opposition, who hold a majority in parliament, as pro-North Korean communists intent on destroying the nation.

The people of South Korea were caught off guard by the emergency declaration. Still, the president insisted it was necessary to protect the people, rather than himself, from a fair democracy. Yoon went as far as accusing the National Assembly as “a haven for criminals, a den of legislative dictatorship that seeks to paralyze the judicial and administrative systems and overturn our liberal democratic order.” Yoon is also enraged at recent budget cuts, which he believes will turn South Korea into “a drug haven and a state of public safety chaos.”

Yoon has used every trick in the book. He has declared that he is protecting the people when in fact he is protecting himself. Only Yoon is attempting to silence the democratic process by behaving like a dictator. The people do not want this man in power. Gallup Korea conducted a poll last month that found 72% disapproved of the president, with only 19% in support. He has rarely received a favorability rating of over 30% due his countless scandals and corrupt image. An online petition gained 811,000 signatures to have the president removed immediately. Yoon has not been officially impeached, nor has it been formally discussed, yet many believe this sudden declaration of martial law is directly related.

Opposition leader Lee Jae-myung believed a coop was inevitable before martial law was lifted. “Tanks, armored personnel carriers, and soldiers with guns and knives will rule the country,” he warned. “The economy of the Republic of Korea will collapse irretrievably.” Hours later, Lee was frantically making public statements to urge the military to retreat, claiming they would be labeled accomplices. “To the police and the members of the armed forces: any orders from the president stemming from this illegal martial law declaration are clearly unlawful, as they violate the constitution and the law.”

Was the president of South Korea attempting to overthrow his own elected government? Socrates warned that 2024 would be the political year from hell and much could happen in the next three weeks.

Page 80 of 1056