https://www.howestreet.com/2024/12/should-you-be-taking-stock-profits-now-mark-leibovit/
Inflation is not caused by the actions of private citizens, but by the government: by an artificial expansion of the money supply required to support deficit spending. No private embezzlers or bank robbers in history have ever plundered people’s savings on a scale comparable to the plunder perpetrated by the fiscal policies of statist governments.
~ Ayn Rand
U.S. Stocks Give Back Ground Following Inflation Data
Stocks recovered from an early pullback during trading on Thursday but moved back to the downside over the course of the session. With the downward move, the Dow closed lower for the sixth consecutive session.
The major averages fell to new lows for the session going into the close of trading. The Dow slid 234.44 points or 0.5 percent to 43,914.12, the Nasdaq declined 132.05 points or 0.7 percent to 19,902.84 and the S&P 500 fell 32.94 points or 0.5 percent to 6,051.25.
The weakness on Wall Street came as some traders looked to cash in on the strong performance seen on Wednesday, when the tech-heavy Nasdaq closed above 20,000 for the first time ever.
Some negative sentiment was also generated in reaction to a Labor Department report showing producer prices in the U.S. increased by more than expected in the month of November.
The Labor Department said its producer price index for final demand climbed by 0.4 percent in November after rising by an upwardly revised 0.3 percent in October.
Economists had expected producer prices to inch up by 0.2 percent, matching the uptick originally reported for the previous month.
The report also said the annual rate of producer price growth accelerated to 3.0 percent in November from an upwardly revised 2.6 percent in October.
The annual rate of producer price growth was expected to rise to 2.6 percent from the 2.4 percent originally reported for the previous month.
While the Federal Reserve is still widely expected to lower interest rates next week, the data has raised some concerns about how quickly the central bank will cut rates early next year.
Sector News
Gold stocks pulled back sharply along with the price of the precious metal, with the NYSE Arca Gold Bugs Index plunging by 3.8 percent after ending Wednesday’s session at its best closing level in over a month.
Significant weakness was also visible among steel stocks, as reflected by the 2.7 percent slump by the NYSE Arca Steel Index.
Airline stocks also came under pressure over the course of the session, dragging the NYSE Arca Airline Index down by 2.5 percent.
Energy stocks also saw considerable weakness amid a decrease by the price of crude oil, while networking stocks showed a notable move to the upside on the day.
Other Markets
In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Thursday. Japan’s Nikkei 225 Index jumped by 1.2 percent, while China’s Shanghai Composite Index advanced by 0.9 percent.
Meanwhile, the major European markets ended the day little changed after the European Central Bank cut interest rates by a quarter point. While the French CAC 40 Index closed just below the unchanged line, the U.K.’s FTSE 100 Index and the German DAX Index both crept up by 0.1 percent.
In the bond market, treasuries extended the pullback seen over the past few sessions. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 5.3 basis points to 4.324 percent.
Looking Ahead
A report on import and export prices may attract some attention on Friday, as traders look for additional clues about the outlook for inflation.
https://www.currentmarketvaluation.com/models/buffett-indicator.php
https://www.cnn.com/2024/12/12/us/new-jersey-drone-sightings/index.html
MIKE ADAMS AT THE HEALTH RANGER REPORT
We may have solved the story of the mysterious drones flying over NJ and military bases on the East Coast.
My analysis points to the US secretly testing an underwater drone carrier platform — basically a drone-launching submarine that could be used to initiate a shoreline assault against a targeted enemy.
Most people don’t know this but Japan actually build a submarine aircraft carrier in World War II. It carried two planes, and one of these carriers was captured by allied forces in 1945. So this basic technology has been around for nearly 80 years.
https://www.brighteon.com/f6a3cf1c-fe66-4b6e-a452-afee6f0a712b
NEXT FOMC MEETING:
DEC 18
OPPORTUNITY TO ACCESS MARK LEIBOVIT’S PROPRIETARY VOLUME REVERSAL INDICATOR – THIS IS THE ONLY PLACE TO DO IT!
Yes, that’s a cartoon of me. Louis Rukeyser had us dressed up in ‘elf’ costumes on the screen broadcast each week. I’ve dated myself. That occurred for me between 1988-1996. Lou didn’t like any bearish comments, so myself and other elves got dumped in 1996.
WHO am I?
MARK LEIBOVIT is Chief Market Strategist for LEIBOVIT VR NEWSLETTERS a/k/a VRTrader.Com. His technical expertise is in overall market timing and stock selection based upon his proprietary VOLUME REVERSAL (TM) methodology and Annual Forecast Model.
Mark’s extensive media television profile includes seven years as a consultant ‘Elf’ on “Louis Rukeyser’s Wall Street Week” television program, and over thirty years as a Market Monitor guest for PBS “The Nightly Business Report”. He also has appeared on Fox Business News, CNBC, BNN (Canada), and Bloomberg, and has been interviewed in Barrons, Business Week, Forbes and The Wall Street Journal and Michael Campbell’s MoneyTalks.
In the January 2, 2020 edition of TIMER DIGEST MAGAZINE, Mark Leibovit was ranked the #1 U.S. Stock Market Timer and was previously ranked #1 Intermediate U.S. Market Timer for the ten year period December, 1997 to 2007.
He was a ‘Market Maker’ on the Chicago Board Options Exchange and the Midwest Options Exchange and then went on to work in the Research department of two Chicago based brokerage firms. Mr. Leibovit now publishes a series of newsletters at www.LeibovitVRNewsletters.com. He became a member of the Market Technicians Association in 1982.
Mr. Leibovit’s specialty is Volume Analysis and his proprietary Leibovit Volume Reversal Indicator is well known for forecasting accurate signals of trend direction and reversals in the equity, metals and futures markets. He has historical experience recognizing, bull and bear markets and signaling alerts prior to market crashes. His indicator is currently available on the Metastock platform.
His comprehensive study on Volume Analysis, The Trader’s Book of Volume published by McGraw-Hill is a definitive guide to volume trading. It is now also published in Chinese. Mark has appeared in speaking engagements and seminars in the U.S. and Canada.
From Martin Armstrong
Biden Authorizes Starting World War III Before Trump Takes Office
I have been warning that our Computer has projected that war will continue and that the Neocons are traitors to the people of the United States and a
threat to the entire world. Biden, the senile one, will sign anything put in front of him, and he is incompetent to be president. For that matter, so is
Kamala. Both threaten the National Security of our nation and the world. Putin is justified to start attacking the United States directly. Since he knows
Trump is coming, he will try to sit on his hands. God help us if the Russian Neocons overthrow Putin. There will be no stopping this.
GATA CHRIS POWELL PRSENTATION – NOV 2024
I USE JOEL WALLACH’S SUPPLEMENTS EVERY DAY. MAY AGAIN PROVIDE A LINK TO PURCHASE THEM HERE
COME ON, DAD. IT’S TIME TO EAT
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