Market Talk – May 9, 2022

ASIA:

Japan’s services sector activity expanded for the first time in four months in April, as consumer sentiment recovered after the government lifted coronavirus curbs following a decline in domestic Omicron infections. The final au Jibun Bank Japan Services Purchasing Managers’ Index (PMI) rose to a seasonally adjusted 50.7 from the previous month’s final of 49.4. That was also better than a 50.5 flash reading for April. Business in the sector saw overall input prices rise at the steepest rate since August 2008 on higher raw material, fuel and wage costs, the survey showed. Private sector firms overall faced further rises in cost pressures due to persistent material shortages and delivery delays amid the Ukraine war and longer coronavirus curbs in economic giant China, Japan’s largest trading partner. The composite PMI, which is calculated using both manufacturing and services, expanded at a slightly faster rate than in the previous month, rising to 51.1 from March’s 50.3 final.

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 decreased 684.22 points or -2.53% to 26,319.34
  • Shanghai increased 2.58 points or 0.09% to 3,004.14
  • Hang Seng closed
  • ASX 200 decreased 84.90 points or -1.18% to 7,120.70
  • Kospi decreased 33.70 points or -1.27% to 2,610.81
  • SENSEX decreased 364.91 points or -0.67% to 54,470.67
  • Nifty50 decreased 109.40 points or -0.67% to 16,301.85

 

The major Asian currency markets had a mixed day today:

  • AUDUSD decreased 0.01172 or -1.66% to 0.69543
  • NZDUSD decreased 0.00775 or -1.21% to 0.63282
  • USDJPY decreased 0.161 or -0.12% to 130.378
  • USDCNY increased 0.04007 or 0.60% to 6.75725

 

Precious Metals:

  • Gold decreased 27.90 USD/t oz. or -1.48% to 1,855.06
  • Silver decreased 0.579 USD/t. oz or -2.59% to 21.762

 

 

Some economic news from last night:

China:

Exports (YoY) (Apr) decreased from 14.7% to 3.9%

Imports (YoY) (Apr) increased from -0.1% to 0.0%

Trade Balance (USD) (Apr) increased from 47.38B to 51.12B

Japan:

Average Cash Earnings (YoY) remain the same at 1.2%

Overall wage income of employees (Mar) remain the same at 1.2%

Overtime Pay (YoY) (Mar) decreased from 5.8% to 2.5%

Services PMI (Apr) increased from 50.5 to 50.7

 

Some economic news from today

Singapore:

Foreign Reserves USD (MoM) (Apr) decreased from 379.7B to 365.2B

 

 

 

EUROPE/EMEA:

Britain’s Ministry of Defense said on Monday that over 2 billion pounds worth of defense contracts have been awarded to start the third phase of its submarine nuclear deterrent programmed termed ‘Dreadnought’. London-listed blue-chip companies, BAE systems and Rolls-Royce have received the contracts, the MoD said in a statement, adding that the investment was part of a planned 10-billion-pound spend for the whole delivery phase.

Investors rediscovered much of their appetite for riskier bets by Thursday afternoon with the MSCI global index finishing well above its session low and the U.S. dollar paring gains while oil futures pulled back from multi-year records after Russia’s invasion of Ukraine and responses from other countries. MSCI’s gauge of stocks across the globe closed down 0.46% after earlier falling more than 3% to touch its lowest level since March 2021.

 

The major Europe stock markets had a negative day:

 

  • CAC 40 decreased 172.34 points or -2.75% to 6,086.02
  • FTSE 100 decreased 171.36 points or -2.32% to 7,216.58
  • DAX 30 decreased 293.62 points or -2.15% to 13,380.67

 

 

The major Europe currency markets had a mixed day today:

  • EURUSD increased 0.00139 or 0.13% to 1.05585
  • GBPUSD decreased 0.00026 or -0.02% to 1.23336
  • USDCHF increased 0.00499 or 0.50% to 0.99345

 

Some economic news from Europe today:

Norway:

Manufacturing Production (MoM) (Mar) increased from -2.1% to 0.6%

France:

French Current Account (Mar) decreased from -0.90B to -3.20B

French Exports (Mar) decreased from 45.8B to 45.7B

French Imports (Mar) increased from 56.1B to 58.1B

French Trade Balance (Mar) decreased from -10.4B to -12.4B

Euro Zone:

Sentix Investor Confidence (May) decreased from -18.0 to -22.6

 

US/AMERICAS:

A new survey by the Federal Reserve released today shows that consumers in the US are a bit more optimistic about inflation. Inflation forecasts over the next year fell to 6.3%, marking a 0.3% decline from the initial expectation. This is quite optimistic as March’s figure came in at 8.5%, the highest rate of inflation since 1981. Americans also feel more secure in their employment with only 10.8% expecting to leave their position over the next 12 months. Consumers believe gas and food prices will begin to decline as well. Still, Americans fear that the cost of living will continue to rise by an alarming 8% over the next year. President Biden is scheduled to discuss the matter with the public this Tuesday.

US Market Closings:

  • Dow declined 653.67 points or -1.99% to 32,245.7
  • S&P 500 declined 132.1 points or -3.2% to 3,991.24
  • Nasdaq declined 521.41 points or -4.29% to 11,623.25
  • Russell 2000 declined 77.48 points or -4.21% to 1,762.08

 

Canada Market Closings:

  • TSX Composite declined 633.59 points or -3.07% to 19,999.69
  • TSX 60 declined 34.8 points or -2.78% to 1,215.79

 

Brazil Market Closing:

  • Bovespa declined 1,884.71 points or -1.79% to 103,250.02

 

 

ENERGY:

 

The oil markets had a negative day today:

 

  • Crude Oil decreased 6.97 USD/BBL or -6.35% to 102.7800
  • Brent decreased 6.84 USD/BBL or -6.09% to 105.55
  • Natural gas decreased 1.047 USD/MMBtu or -13.02% to 6.9950
  • Gasoline decreased 0.1171 USD/GAL or -3.12% to 3.6411
  • Heating oil decreased 0.1246 USD/GAL or -3.15% to 3.8297

 

The above data was collected around 14:49 EST on Monday

 

  • Top commodity gainers: Lumber (0.89%) and Canola (1.01%), Palladium (2.77%), Bitumen (1.63%)
  • Top commodity losers: Zinc (-4.51%), Crude Oil (-6.35%), Natural Gas (-13.02%) and Brent (-6.09%)

 

The above data was collected around 14:55 EST on Monday.

 

 

BONDS:

 

Japan 0.246%(+0.6bp), US 2’s 2.62% (-0.112%), US 10’s 3.0752% (-6.72bps); US 30’s 3.21% (-0.032%), Bunds 1.100% (-3.7bp), France 1.643% (-2.3bp), Italy 3.162% (+1.3bp), Turkey 21.54% (-19bp), Greece 3.632% (+8.9bp), Portugal 2.278% (-1.2bp); Spain 2.255% (+0.4bp) and UK Gilts 1.9590% (-3.8bp).

The post Market Talk – May 9, 2022 first appeared on Armstrong Economics.

Zelensky & World War III

Our computer warned back in 2013 that Ukraine would be the place where World War III would begin. I warned that the ONLY way to prevent that was to split Ukraine based on the language. While the propaganda is that Kyiv is fighting for freedom and democracy, they have refused to allow Donbas to vote and recognize their independence. The hatred in the West of the Russian-speaking East is well documented. It stems from the period of Stalin’ starving of 7 million Ukrainians to pretend that Communism was working. The fact that Stalin was not Russian but a Georgian has been lost in the pages of history.

The Dnipro River was the border between the old Russian Empire and Ukraine. The East of that river was NEVER Ukrainian territory. It was assigned to Kyiv under the USSR for administrative purposes. Crimea was always Russian and was merely assigned to Kyiv in 1954 under the USSR. Nevertheless, we are to throw the entire world into war over this nonsense only because it serves the objectives of the Neocons and the World Economic Forum which cannot pull off this Great Reset without also overthrowing both the governments of Russia and China. Sorry to inform them that our computer has NEVER been wrong on geopolitical forecasts and it is written in stone, in the end, the West will lose to China, which has already stated that it is in a strategic partnership with Russia. SO while people die to fill Zelensky’s offshore accounts and I warned from the outset that he was the agent who would create World War III,  he has been preaching this is World War III to engulf the entire world for this territorial grab that is historically unjustified.

The Nazi Ukrainian troops are clinging to control of the steel plant in Mariupol. Our sources say that the Russian troops have breached their defenses and hand-to-hand combat is even taking place inside. They have asked for support from Kyiv, but so far that is not coming. This is the final stronghold and this fierce attack is to deliver the Kremlin a victory against the Nazis days ahead of a major Russian military holiday on Monday.

 The steel plant is the last area in Mariupol still under Ukrainian control, and its fall would be a blow to Kyiv. Putin again called Macron for he is the only leader who appears to be interested in a peace agreement. Putin misjudged that the West NEEDS war with Russia and they are counting on the belief that he will not use nuclear weapons.

In reality, there are those who argue that the smartest thing that Russia could do is to take a lesson from the USA. The argument calls for the use of a small tactical nuke and take out Kyiv and then call the bluff of the USA and NATO. Would the West retaliate and go nuclear which would then result in Europe and the USA being in the direct line of fire? I doubt it. But once the US dropped the two bombs on Japan, that ended the war. With the Pelosi delegation saying there is no peace and only total victory with the defeat of Russia is acceptable, this will be another endless war.

What is important to understand is that 1 Hiroshima Bomb Explosion was equal to 0.01434034416826 Megatons of TNT. Today, Russia has more nukes than anyone, but just one is 100 megatons. One can take out the entire island of Britain. The people behind Putin would nuke Kyiv following the lesson of World War II betting that the West will not retaliate and destroy the entire world. We are certainly rolling the dice and our braindead world leaders do not seem to comprehend either the risk or strategy.

Zelensky has polarized the entire world. By him suddenly pretending to be a practicing Jew when his children were baptized Christian, he has ignited the threat of war again in the Middle East. The surrounding countries of Israel are aligning with Russia. Even Knesset Member Itamar Ben-Gvir entered the Temple Mount on Israel’s 74th Independence Day and declared: “The time has come to build a Jewish synagogue on the Temple Mount.” The argument is that the Jewish people are compelled to rebuild the Temple on the very spot of the Dome of the Rock on Temple Mount. The supporters of that point to: “And let them make Me a sanctuary that I may dwell among them” (Exodus 25:8). Obviously, Zelensky has destabilized the world much more than people realize.

No doubt, this will conjure up those who will be writing about the poem from the classic movie – The Omen. It certainly looks like there will be those who will start to look at Zelensky a whole lot differently. The one thing for certain is he has certainly played his part well acting out this world leader to get the ball rolling. Is Zelensky really the Manchurian Candidate to lead the entire globe into World War III? There are voices rising such as Brazil’s Lula saying Zelenskiy is “As Responsible as Putin” for Ukraine War.

The Neocon Bill Kristol was advocating the overthrow and the various leaders in the Middle East under the theory that introducing Democracy would ultimately provide security for Israel. This same theory that taking out Putin and the Russians will cheer us with open arms. That failed in the Middle East, and it will fail in both Russia and China. The propaganda is creating hatred of the Russian and Chinese people to sell this war to the American and Europeans has internal civil consequences just as the Japanese internment camps of WWII. This hatred the Neocons have created against Putin with Xi to follow, can not be confined to exclusively their leaders. Yes, Bill Kristol spoke at one of our WEC’s back in the early ’90s. As always, I seem to have encountered all the players in this game of world denomination right down to shaking hands with Schwab.

The post Zelensky & World War III first appeared on Armstrong Economics.

Don’t Divert Your Attention to Roe v. Wade

A coming Supreme Court ruling to overturn Roe v. Wade was secretly “leaked.” Uncoincidentally, the news came right before the 2022 US midterm elections. Everyone is understandably up in arms after Biden formed a Disinformation Governance Board to become the ultimate authority for what we may believe is true. Most Americans want Biden out of office, with only 37% saying he should run for re-election.

The fake plight to save the people of Ukraine was not enough to garner Democratic support. The virtue-signaling appealed to the left at first, until Biden handed Ukraine billions of dollars and dismissed his campaign promise to forgive student debt. The COVID power grab has loosened from Biden’s grip, and his approval numbers have been steadily declining.

Abortion has been a hot topic since Roe v. Wade permitted the practice in 1973. The same people who are shouting, “MY BODY, MY CHOICE!” did not feel that way when the government wanted to mandate experimental vaccines. They were OK with countless people losing their jobs and lives because the government knew what was best for our health, and we had a moral obligation to obey. They claim Roe v. Wade protects women but are attempting to eliminate women from our society.

The latest Supreme Court Justice Kentanji Jackson said she could not define a “woman” as she is not a biologist. Biden actually banned the word “mothers” as femininity is offensive to the far left. Instead, we are supposed to call them “birthing people” since the woke community maintains that men can give birth. Apple even added pregnant men emojis to its platform.

Not to be outdone, the US is #1 for infant mortality among developed nations. Do you know the leading cause of death for “birthing people” in the US? HOMICIDE! More women die in this country from homicide than from pregnancy or birthing complications. Black women in particular are three times as likely to die from homicide while pregnant. Men are almost always the culprit.

Yet, no one sees gender or these very alarming issues. Women are no longer protected in this country; Roe v. Wade is not the issue. How can we protect women when we deny their existence?

 

The post Don’t Divert Your Attention to Roe v. Wade first appeared on Armstrong Economics.

Australia and India Form an Alliance to Lessen Reliance on China

Trade tension between China and Australia has hit a new peak, with Australia now seeking to limit trade with China entirely. Former Australian Prime Minister Tony Abbott said that India will replace China in trade. “For economic reasons, we’re gonna [sic] have to replace China in supply chains and frankly, there is no better substitute for China and so many of their supply chains than India, given India’s very sophisticated manufacturing base,” Abbott stated.

Abbott accused China of “weaponizing trade” and “bribing or bullying other countries around the region.” Australia is now aiming for a $100 billion bilateral trade deal with India. India and Australia entered a free trade agreement in April entitled the “Australia-India Economic Cooperation and Trade Agreement” (ECTA) after over a decade of negotiations. The deal will increase trade between the nations from $27.5 billion in 2021 to $45 billion over the next five years. The agreement also seeks to increase duty-free imports on Indian products and eliminate over 85% of tariffs on Australian goods to India.

China blocked Australian imports during COVID after politicians requested an independent review of the Wuhan virus leak. China later allowed Australian goods to enter the country but increased tariffs significantly. The two nations withdrew from major projects shortly after, such as China’s Belt and Road Initiative.

China recently shut down its largest port and has been contributing to the supply chain crisis. They have had notoriously difficult trade negotiations with most of their largest trading partners. Although the models indicate China will eventually become the financial capital of the world, the road there will be a long one.

The post Australia and India Form an Alliance to Lessen Reliance on China first appeared on Armstrong Economics.

Propaganda From a Warzone

Politicians are using Ukraine as a photo opportunity. Would the most powerful government officials risk traveling there if Kyiv was under constant attack? Would they publicly stroll the streets in Russia’s alleged top target? Third in line to lead the US, 82-year-old Nancy Pelosi, insisted on putting a wall and armed guards around the US capitol, stating she feared for her life. She had no problem flying to what has been described as an active warzone to take pictures with Zelensky and personally deliver him billions of dollars for a war the media states he is winning. What she actually did was commit the United States to a direct war with Russia and the goal is their destruction not to defend Ukraine. They outright said before the world, that there are no peace negotiations, this is a defacto Declaration of War.

Boris Johnson also did not pass on the photo opportunity. The prime minister of the UK openly walked around Kyiv with the Ukrainian leader. Zelensky made sure to wear his military gear for the photos, although Johnson was in a suit. There were no bulletproof vests, and they did not meet in a secret location. In fact, numerous leaders of NATO nations have visited Ukraine since the war began. The presidents of Lithuania, Latvia, Poland, and Estonia all traveled by train to visit the war-torn country. Many others have visited as well and sent top delegates amid an ongoing war.

Everyone clearly knows where Zelensky is located – including the Russians. There were countless reports of Russian special forces attempting to assassinate Zelensky in the “early hours” of the war. Sources claim that was propaganda. Zelensky never went into hiding. He posts videos from his office in Kyiv and has made his location known. Yet, he claims that he and his family will be assassinated by Putin soon. He has successfully secured the public’s opinion as they see him as a brave leader who is willing to risk his life for his country. If Putin wanted to assassinate Zelensky, he would have done so already. Putin does not want a war with NATO and is moving carefully. However, the West wants war and desperately needs war as stage TWO of the Great Reset for the days of Keynesian Economics are coming to an end. The West has been borrowing relentless since World War II with no intention of paying anything back. The ECB lowered interest rates to NEGATIVE in 2014, and now the entire European pension system is bankrupt. They need this war to blame the collapse of government on Putin as well.

The post Propaganda From a Warzone first appeared on Armstrong Economics.

Biden Adopts the Same Strategy as Hitler to Cancel Free Speech

Every dictatorship throughout history established a propaganda arm which they have typically called variations of the “Ministry of Truth.” The Russian USSR established Pravda, which simply means “TRUTH.” When insurance companies could not sell death insurance, they called it life insurance and everyone bought it. The Biden Administration has now formally joined the ranks of such dictatorships throughout history with their creation of the so-called “Disinformation Governance Board.”

This is a typical attack on free speech. Hitler created the very same type of ministry formally called Reich Ministry for Public Enlightenment. It was responsible for controlling the content of the press, literature, visual arts, film, theater, music, and radio in Nazi Germany. Today, we call it “cancel culture.”

The computer forecast that post-2020.05 we would enter the Age of Authoritarianism, and the forecast has been spot on. Those pulling the strings to Biden’s mouth behind the curtain are simply out to destroy everything America was founded on. This is a direct assault against the First Amendment and they will cleverly intimidate private parties to act and therefore circumvent the constitution, which only prohibits the government from violating your rights (not the New York Times, etc.).

Biden has confiscated the assets of private Russians and the next step will be to confiscate all assets of all Russians and imprison them when direct war breaks out, just as they did to the Japanese. There were three major cases concerning the Japanese making it to the Supreme Court.

In 1943, Minoru Yasui’s case appeared before the U.S. Supreme Court, which ruled that Yasui was still a U.S. citizen and that the curfew he’d violated was valid. Yasui eventually ended up at an internment camp in Minidoka, Idaho, where he was released in 1944. Yasui died in 1986 without ever seeing justice.

Gordon Hirabayashi was a University of Washington student who was charged with defying Executive Order 9066 by missing curfew and failing to report to an internment camp. Hirabayashi was arrested and convicted in 1942. He was thrown in prison for two years, where he was abused for being Japanese. His case finally made it to the Supreme Court which held that the President’s executive order was not discriminatory because it was a military necessity. So claim it is required for war, and you have ZERO Constitutional rights.

Fred Korematsu was a 23-year-old shipyard welder who also defied orders to report to an internment camp simply because he was Japanese. After his arrest in May 1942, he was convicted of violating military orders. Korematsu fought his case all the way to the Supreme Court which also upheld the government arguing that race did not factor into the internment of Japanese Americans and that internment was a military necessity. That was perhaps one of the worse decisions next to Dread Scott which defied all common sense. If you were Japanese, you had to report to the prison camp, yet they held it had nothing to do with race.

In 1988, Congress passed the Civil Liberties Act, which led to a formal government apology for internment and payment of $20,000 EXCLUSIVELY to internment survivors. If you died before 1988, which many did, tough luck.

Biden would sign the same Executive Order, which circumvents Congress and is outside the confines of even a Republic. He can sign an order forbidding you to have children if your IQ is less than a specific number. Gates demanded the IQ of women he would consider as he did with his ex-wife. Biden can sign an Executive Order even saying you must sacrifice your first son on the steps of the White House. It is then your burden to go to court and claim it is unconstitutional. This is what is SERIOUSLY wrong with our legal system. It is not a restraint upon government, for they can do whatever they like knowing you have to take them to court. In the meantime, they accomplish their goal to do whatever, from confiscating all your assets and selling them for $1 to a friend, killing you arbitrarily, or shutting down your company. There is NOTHING they cannot do because courts will ONLY rule AFTER the harm is caused. They call that “standing,” where ONLY those harmed can argue in court.

 

The post Biden Adopts the Same Strategy as Hitler to Cancel Free Speech first appeared on Armstrong Economics.

Market Talk – March 29, 2022

ASIA:

Three of China’s largest banks have said that the country’s lenders face multiple headwinds this year that include the pandemic, global politics and domestic turmoil in the real estate industry. China’s banking industry is facing “a more complicated and severe business environment,” the country’s second-biggest lender by assets China Construction Bank Corp, said on Tuesday. The non-performing loan ratio at CCB fell to 1.42% at year-end compared with 1.51% three months ago, while at BoC it was 1.33% by year-end, compared with 1.29% end of September. The net interest margin, a key gauge of bank profitability, stood steady at 1.75% from the previous three months for BoC, while at CCB it dropped to 1.94% at the end of the year from 2.12% three months earlier.

Bank of Japan made on Monday offered unlimited bond buying from Tuesday to Thursday to keep the 10-year Japanese government bond (JGB) yield from rising above an implicit 0.25% cap it sets around its 0% target.

 

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 increased 308.53 points or 1.10% to 28,252.42
  • Shanghai decreased 10.56 points or -0.33% to 3,203.94
  • Hang Seng increased 242.66 points or 1.12% to 21.927.63
  • ASX 200 increased 51.90 points or 0.70% to 7,464.30
  • Kospi increased 11.51 points or 0.42% to 2,741.07
  • SENSEX increased 350.16 points or 0.61% to 57,943.65
  • Nifty50 increased 103.30 points or 0.60% to 17,325.30

 

The major Asian currency markets had a mixed day today:

  • AUDUSD increased 0.00100 or 0.14% to 0.75097
  • NZDUSD increased 0.00230 or 0.33% to 0.69288
  • USDJPY decreased 1.165 or -0.94% to 122.606
  • USDCNY decreased 0.01050 or -0.17% to 6.37373

 

Precious Metals:

  • Gold decreased 9.59 USD/t oz. or -0.50% to 1,913.61
  • Silver decreased 0.218 USD/t. oz or -0.88% to 24.623

 

 

Some economic news from last night:

Japan:

Jobs/applications ratio (Feb) increased from 1.20 to 1.21

Unemployment Rate (Feb) decreased from 2.8% to 2.7%

South Korea:

Consumer Confidence (Mar) increased from 103.1 to 103.2

Australia:

Retail Sales (MoM) (Feb) remain the same at 1.8%

 

 

EUROPE/EMEA:

Russia promised on Tuesday to scale down military operations around Kyiv and another city, but the United States warned the threat was not over as Ukraine proposed adopting a neutral status in a sign of progress at face-to-face negotiations. Russia’s invasion has been halted on most fronts by stiff resistance from Ukrainian forces who have recaptured territory even as civilians are trapped in besieged cities. Russia has started moving very small numbers of troops away from positions around Kyiv in a move that is more of a repositioning than a retreat or a withdrawal from the war, the Pentagon said on Tuesday.

The major Europe stock markets had a green day:

  • CAC 40 increased 203.05 points or 3.08% to 6,792.16
  • FTSE 100 increased 64.11 points or 0.86% to 7,537.25
  • DAX 30 increased 402.96 points or 2.79% to 14,820.33

 

The major Europe currency markets had a mixed day today:

  • EURUSD increased 0.01200 or 1.09% to 1.11154
  • GBPUSD increased 0.00320 or 0.25% to 1.31362
  • USDCHF decreased 0.00390 or -0.42% to 0.93009

 

Some economic news from Europe today:

Germany:

German Import Price Index (MoM) (Feb) decreased from 4.3% to 1.3%

German Import Price Index (YoY) (Feb) decreased from 26.9% to 26.3%

GfK German Consumer Climate (Apr) decreased from -8.5 to -15.5

France:

French Consumer Confidence (Mar) decreased from 97 to 91

Spain:

Spanish Retail Sales (YoY) (Feb) decreased from 4.1% to 0.9%

UK:

BoE Consumer Credit (Feb) increased from 0.143B to 1.876B

M4 Money Supply (MoM) (Feb) increased from 0.1% to 1.0%

Mortgage Approvals (Feb) decreased from 73.84K to 70.99K

Mortgage Lending (Feb) decreased from 5.93B to 4.67B

Net Lending to Individuals increased from 6.1Bto 6.5B

 

US/AMERICAS:

The Job Openings and Labor Turnover (JOLTS) survey was released today remained relatively stable at 11.3 million during the last business day of February, according to the US Bureau of Labor Statistics. New hires rose 6.7 million and separations remained relatively stagnant at 6.1 million. The quits rate remained at 2.9% and discharges were unchanged at 0.9%. The number of new hires in February edged higher by 6.7 million or an increase of 263,000.

Pfizer announced that a fourth booster was approved for everyone over the age of 50. High-risk individuals over the age of 12 will also qualify for the fourth dosage as well.

US Market Closings:

  • Dow advanced 338.3 points or 0.97% to 35,294.19
  • S&P 500 advanced 56.08 points or 1.23% to 4,631.6
  • Nasdaq advanced 264.73 points or 1.84% to 14,619.64
  • Russell 2000 advanced 55.04 points or 2.65% to 2,133.1

 

Canada Market Closings:

  • TSX Composite advanced 109.39 points or 0.5% to 22,087.22
  • TSX 60 advanced 4.55 points or 0.34% to 1,335.65

 

Brazil Market Closing:

  • Bovespa advanced 1,276.39 points or 1.07% to 120,014.17

 

ENERGY:

 

The oil markets had a negative day today:

 

  • Crude Oil decreased 4.12 USD/BBL or -3.89% to 101.8400
  • Brent decreased 4.41 USD/BBL or -3.92% to 108.0700
  • Natural gas decreased 0.166 USD/MMBtu or -3.01% to 5.3420
  • Gasoline decreased 0.0677 USD/GAL or -2.10% to 3.1511
  • Heating oil decreased 0.1223 USD/GAL or -3.23% to 3.6611

 

The above data was collected around 12:30 EST on Tuesday

 

  • Top commodity gainers: Lumber (3.17%) and Coffee (0.70%), Cocoa(1.11%), Rhodium (1.06%)
  • Top commodity losers: Wheat (-4.52%), Methanol (-5.16%), Oat(-4.03%) and Aluminum(-4.70%)

 

The above data was collected around 12:39 EST on Tuesday.

 

BONDS:

 

Japan 0.2580%(+0.8bp), US 2’s 2.38% (+0.043%), US 10’s 2.4182% (-4.77bps); US 30’s 2.50% (-0.052%), Bunds 0.643% (+6.1bp), France 1.059% (+5.9bp), Italy 2.1390% (+3.2bp), Turkey 25.07% (+5bp), Greece 2.861% (+2.6bp), Portugal 1.420% (+6.8bp); Spain 1.516% (+6.3bp) and UK Gilts 1.651% (+3.1bp).

The post Market Talk – March 29, 2022 first appeared on Armstrong Economics.