The major averages all ended modestly lower. The Dow, which advanced to 36,292.58 in early trades, settled at 36,054.43, losing 70.13 points or 0.19 percent. The S&P 500
ended down 17.84 points or 0.39 percent at 4,549.34, while the Nasdaq closed lower by 83.20 points or 0.58 percent at 14,146.71.

Stocks moved higher earlier in the session, reacting positively to a report from payroll processor ADP showing private sector employment in the U.S. increased by less than
expected in the month of November.

ADP said private sector employment rose by 103,000 jobs in November after climbing by a downwardly revised 106,000 jobs in October. Economists had expected private sector
employment to advance by 130,000 jobs compared to the addition of 113,000 jobs originally reported for the previous month.

“Restaurants and hotels were the biggest job creators during the post-pandemic recovery,” said ADP chief economist Nela Richardson. “But that boost is behind us.”

She added, “The return to trend in leisure and hospitality suggests the economy as a whole will see more moderate hiring and wage growth in 2024.”

The weaker than expected private sector job growth added to recent optimism the Federal Reserve is done raising interest rates.

However, stocks retreated as traders chose to lighten commitments due to concerns about possible overbought conditions in the market, and amid caution ahead of the Labor
Department’s closely watched monthly jobs report on Friday.

Economists currently expect employment to increase by 185,000 jobs in November after rising by 150,000 jobs in October, while the unemployment rate is expected to hold at
3.9 percent.

Energy stocks shed ground, weighed down by a sharp drop in oil prices amid concerns about the outlook for fuel demand and on data showing a larger than expected increase in
gasoline inventory in the week ended December 1st.

Marathon Petroleum, Marathon Oil, Enphase Energy, Constellation Energy, Baker Hughes and Valero Energy lost 2 to 4 percent.

Nvidia, Oracle, American Express, Netflix, Amazon, Intel, J&J, Pfizer, Walmart, Microsoft and JP Morgan ended weak.

Carnival rallied nearly 6 percent. Walgreens Boots Alliance surged about 4.3 percent.

Delta Air Lines, United Airlines Holdings, Southwest Airlines and American Airlines moved up sharply.

Moderna, Citigroup, Starbucks, T-Mobile, Whirlpool, Boeing, Airbnb and Biogen posted strong gains.

In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Wednesday. Japan’s Nikkei 225 Index surged by 2.0 percent, while
Hong Kong’s Hang Seng Index climbed by 0.8 percent.

The major European markets also moved to the upside on the day. While the German DAX Index surged 0.75 percent, the French CAC 40 climbed 0.66 percent, and the U.K.’s FTSE
100 Index advanced 0.34 percent. The pan European Stoxx 600 ended up 0.52 percent.

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November 30 interview

NEXT PODCAST DECEMBER 7

https://www.howestreet.com/2023/11/gold-showing-new-life-mark-leibovit/

THE DECEMBER 21-22 WINTER SOLSTICE TIME FRAME MAY HARBOR ANOTHER ‘CHANGE OF DIRECTION’ FOR WORLD MARKETS

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Case for gold fever: NewEdge Wealth sees record rush intensifying -CNBC

As gold continues its climb, the current state of the economy and geopolitics are just two of the accelerators for the strong surge. With 2024 promising even more upheaval, this all lines up with the many price projections for $3,000 an ounce gold in 2024.

by Meredith Mutter

The record gold rush may intensify into year-end.

According to NewEdge Wealth’s Ben Emons, the final month of the year typically creates a bigger appetite for the yellow metal.

“It’s been very consistent every December. It’s been a pretty strong performance for gold – especially when there is a rally in the stock market in November,” the firm’s head of fixed income told CNBC’s “Fast Money” on Tuesday.

Gold settled at a new record high Friday. It closed the day up almost 2%, at $2,089.70 an ounce.

Emons listed the economic backdrop and geopolitical backdrop as additional positive catalysts for gold.

“There’s uncertainty next year. We have an election. We don’t know what’s going to happen. We get a recession maybe, maybe not,” said Emons. “At the same time, gold rallieswhen there’s this risk-on feel in the markets, and that’s really when real rates and interest rates are declining. This gives the gold a really good push for the
breakout.”

Kissinger Created the Doomsday Deal -Daily Reckoning

The US dollar has been receiving a lot of negative press lately due to rising debt issues, the strengthening of the BRICS alliance, inflationary pressures, and more. To
gain a broader understanding of the progression – or rather regression – of the dollar, James Rickards takes a historic look at the dollar’s moves.

by James Rickards

franklinAs I’m sure you know by now, Henry Kissinger died last week at the age of 100. He leaves a complex legacy, which is certainly understandable because he operated ina complex geopolitical environment.

But Henry Kissinger was a master strategist and political scientist. With his recent passing, I thought I’d retell the story of one of his most brilliant plans, and explain
how it relates to the demise of the dollar.

In February 1974, I was asked by Professor Robert W. Tucker of the Johns Hopkins School of Advanced International Studies to join him and four other foreign policy experts for a meeting at the White House.

At the time, confidence in the dollar was on shaky ground because President Nixon had ended gold convertibility of dollars in 1971.

The price of oil was skyrocketing, partly due to inflationary policies pursued by the Federal Reserve, and partly due to an Arab oil embargo in response to U.S. aid to
Israel in the Arab-Israeli Yom Kippur War of 1973.

“A Constant State Of Sticker Shock” – Here Is Proof That Inflation In The U.S. Is Wildly Out Of Control -The Economic Collapse

Do you believe the politicians in Washington or do you believe your own eyes? The politicians keep telling us that “inflation is low”, but everyone can see that
everything sure does cost a lot more than it once did. Our standard of living just keeps going down, and even JPMorgan Chase CEO Jamie Dimon is admitting that “inflation ishurting people”. But how can inflation be “hurting people” if it is under control? Of course the truth is that it isn’t under control. If the official rate of inflation was still measured using the formula that was in place in 1980, it would be well into double digit territory right now. Prices have been rising much faster than paychecks have, and that is putting an extraordinary amount of financial stress on the more than 60 percent of U.S. adults that currently live paycheck to paycheck.

Vox is a website that leans very far to the left, and even they are complaining about inflation.

In fact, a recent article posted on Vox boldly declared that life in 2023 “means being in a constant state of sticker shock

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U.S. DOLLAR

CANADIAN DOLLAR

URANIUM  – REPORTS ONLY ISSUED WEEKLY

METALS

COMMODITIES

CRYPTO UPDATE AS OF DECEMBER 6. 2023

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