Courtesy Ray Merriman:
The path of eclipse totality will go right over Niagara Falls at 3:15 PM on Monday. Niagara Falls generates an enormous amount of hydropower and was once a Category 5 earthquake fault line. Additionally, the path of totality will crisscross a previous eclipse that happened in the U.S. in 2017 over southwest Missouri. The New Madrid fault line runs through that area. What does this mean? Well, first of all, understand that earthquakes do not always happen exactly on the day of the eclipse. They can be a few months off. However, in several cases, they occurred on the line of the eclipse path a few months later. Second, understand that there really isn’t too much you can do, for earthquakes are outside of one’s ability to control. You can have a plan to seek safety if one occurs. But you cannot pinpoint the exact time AND location when one will occur (although I am certain that if one does occur, someone will claim to have predicted it). It does very little good to fret over something you cannot control. Just be alert and have a plan if you are in a region (the eclipse path) that is vulnerable to any kind of natural calamity. But also know that if a calamity were to occur on the eclipse path, it could be several months after the moment of the eclipse.
HISTORICALLY A GOOD SIGN THAT WE ARE AT OR NEAR A MARKET TOP = BULLISH MEDIA HEADLINES LIKE THIS
BULL TRAP STILL UNDERWAY
THE BALTIMORE BRIDGE COLLAPSE MAY HAVE BEEN THE BEGINING. THE EFFECTS OF THE APRIL SOLAR ECLIPSE! SEISMIC RUMBLINGS 150 OFF THE COAST OF VANCOUVER ISLAND, THE TAIWAN EARTHQUAKE, EARTHQUAKE IN NEW YORK. AND, NOW AN POTENTIALLY EXPLOSIE IRAN/ISRAEL CONFRONTATION NOW UNDERWAY. MERCURY RETROGRADE BEGUN APRIL 1. NEW MOON AND THE SOLAR ECLIPSE ON APRIL 8.
THE DECEMBER 21-22 WINTER SOLSTICE DEFINED A MARKET TOPPING PROCESS AND NOW WE’RE FOCUSING IN ON THE VERNAL EQUINOX TO LIKELY PERFORM THE OPPOSITE – A LOW POINT IN THE MARKET
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U.S. Stocks Show Significant Rebound Following Strong Jobs Data
Following the sell-off seen late in the previous session, stocks showed a significant move back to the upside during trading on Friday. The major averages all moved notably higher, largely offsetting Thursday’s steep losses.
The major averages finished the day off their highs of the session but still firmly in positive territory. The Nasdaq surged 199.44 points or 1.2 percent to 16,248.52, the S&P 500 jumped 57.13 points or 1.1 percent to 5,204.34 and the Dow advanced 307.06 points or 0.8 percent to 38,904.04.
Despite the rebound on the day, the major averages all moved lower for the week. The Dow plunged by 2.3 percent, while the S&P 500 slumped by 1.0 percent and the Nasdaq slid by 0.8 percent.
The rebound on the day came as traders looked to pick up stocks at relatively reduced levels following the steep drop seen during Thursday’s session, which dragged the Dow down to its lowest closing level in a month.
Traders also reacted positively to a closely watched Labor Department report showing much stronger than expected job growth in the month of March.
The Labor Department said non-farm payroll employment spiked by 303,000 jobs in March after surging by a downwardly revised 270,000 jobs in February.
Economists had expected employment to jump by 200,000 jobs compared to the addition of 275,000 jobs originally reported for the previous month.
The report also said the unemployment rate edged down to 3.8 percent in March from 3.9 percent in February, while economists had expected the unemployment rate to come in unchanged.
While the stronger than expected job growth may have added to recent concerns about the outlook for interest rates, the report also showed a continued slowdown in the annual rate of wage growth.
The Labor Department said the annual rate of wage growth slowed to 4.1 percent in March from 4.3 percent in February, in line with estimates.
“While wages are growing solidly, their growth rate has moderated to the least since mid-2021,” said Bill Adams, Chief Economist for Comerica Bank. “The economy-wide slowdown in inflationary pressures is extending to labor costs.”
“The Fed will be glad to see wage growth normalizing,” he added. “This jobs report will make the Fed more confident that inflation is moderating; they say more confidence on this point is a precondition for making rate cuts this year.”
Gold stocks moved sharply higher following the pullback seen on Thursday, driving the NYSE Arca Gold Bugs Index up by 3.3 percent to its best closing level in well over ten months.
The rebound by gold stocks came amid a substantial increase by the price of the precious metal, with gold for June delivery surging $36.90 to $2,345.40 an ounce.
Significant strength was also visible among retail stocks, as reflected by the 1.7 percent gain being posted by the Dow Jones U.S. Retail Index.
Software, semiconductor and housing stocks also saw considerable strength on the day, moving higher along with most of the other major sectors.
Other Markets
In overseas trading, stock markets across the Asia-Pacific region moved mostly lower during trading on Friday. Japan’s Nikkei 225 Index plunged by 2.0 percent, while South Korea’s Kospi slumped by 1.0 percent.
The major European markets also moved to the downside on the day. While the U.K.’s FTSE 100 Index slid by 0.8 percent, the French CAC 40 Index and the German DAX Index tumbled by 1.1 percent and 1.2 percent, respectively.
In the bond market, treasuries regained some ground after an early sell-off but remained firmly negative. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 6.9 basis points to 4.378 percent.
Looking Ahead
Inflation data will move back into the spotlight next week, with the Labor Department due to release its reports on consumer and producer price inflation in the month of March.
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