https://www.howestreet.com/2024/10/what-has-more-impact-than-fed-control-of-interest-rates-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

GENERAL NEWS:

Upbeat Earnings News Contributes To Rebound On Wall Street

Following the sell-off seen during Thursday’s session, stocks showed a strong move back to the upside in early trading on Friday. The major averages gave back some ground over the course of the trading day but remained firmly in positive territory.

The tech-heavy Nasdaq led the way higher, advancing 144.77 points or 0.8 percent to 18,239.92 after moving sharply lower over two previous sessions. The Dow also climbed 288.73 points or 0.7 percent to 42,052.19, bouncing off its lowest closing level in over a month, while the S&P 500 rose 23.35 points or 0.4 percent to 5,728.80.

Despite the rebound on the day, the major averages all moved to the downside for the week. The Dow dipped by 0.2 percent, while the S&P 500 and the Nasdaq slumped by 1.4 percent and 1.5 percent, respectively.

The rebound on Wall Street partly reflected a positive reaction to upbeat earnings news from big-name companies like Intel (INTC) and Amazon (AMZN).

Semiconductor giant Intel soared by 7.8 percent after reporting better than expected third quarter results and providing strong guidance.

Shares of Amazon also spiked by 6.2 percent after the online retail giant reported third quarter results that exceeded analyst estimates on both the top and bottom lines.

On the other hand, shares of Apple (AAPL) moved to the downside even though the tech giant reported better than expected fiscal fourth quarter results.

Traders were also digesting the Labor Department’s closely watched report, which showed much weaker than expected job growth in the month of October.

The Labor Department said non-farm payroll employment crept up by 12,000 jobs in October after jumping by a downwardly revised 223,000 jobs in September.

Economists had expected employment to climb by 113,000 jobs compared to the surge of 254,000 jobs originally reported for the previous month.

Meanwhile, the report said the unemployment rate came in at 4.1 percent in October, unchanged from September and in line with economist estimates.

While the data raised some concerns about the strength of the economy, the report also led to renewed optimism about the outlook for interest rates.

However, due the impact of Hurricanes Helene and Milton and the Boeing (BA) strike, the report may not affect the Federal Reserve’s plan to gradually lower rates.

Sector News

Retail stocks moved sharply higher on the heels of the upbeat results from Amazon, driving the Dow Jones U.S. Retail Index up by 2.6 percent to a record closing high.

Considerable strength was also visible among biotechnology stocks, as reflected by the 2.2 percent jump by the NYSE Arca Biotechnology Index.

Airline, networking and computer hardware stocks also saw significant strength, while notable weakness emerged among utilities and natural gas stocks.

Other Markets

In overseas trading, stock markets across the Asia-Pacific region moved mostly lower on Friday. Japan’s Nikkei 225 Index dove by 2.6 percent and China’s Shanghai Composite Index dipped by 0.2 percent, although Hong Kong’s Hang Seng Index bucked the downtrend and jumped by 0.9 percent.

Meanwhile, the major European markets have moved to the upside on the day. While the German DAX Index advanced by 0.9 percent, the U.K.’s FTSE 100 Index and the French CAC 40 Index both climbed by 0.8 percent.

In the bond market, treasuries pulled back sharply after initially rallying in reaction to the monthly jobs data. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, jumped 7.7 basis points to a nearly four-month closing high of 4.361 percent after hitting a low of 4.223 percent.

Looking Ahead

The outcome of the U.S. presidential election is likely to be in focus next week, while reports on factory orders, service sector activity and consumer sentiment may also attract attention.

Trading may also be impacted by reaction to the latest earnings news, with a slew of well know companies due to report their quarterly results.

 

https://www.metastock.com/offer/event/?whc=traders-conference&pc=eq-vrtrader

Rabbi Lapin on Cycles, Spirituality, and Meaning of Money | Cycles TV November 2024

https://tinyurl.com/yc65szbx

Trump Wins, Eliminates Federal Income Tax, Economy Booms – Martin Armstrong

Legendary financial and geopolitical cycle analyst Martin Armstrong is back with some important predictions in his last appearance before the 2024 Election.  First, Armstrong’s Socrates computer is still predicting a Trump landslide.  Socrates actually factors in cheating to make this “Trump Wins” call.  Armstrong says, “In the 2020 Election, it came out the computer said it was 50/50.  It did not show a huge landslide one way or another.  They rigged it, but it was in Congress is where they did it. . . . There were seven states that were going to be challenged. . . . On January 6 (during the so-called insurrection at the capitol), the FBI has testified they could not even tell how many people they had there. . . . as soon as this happens, Pelosi calls emergency rules.  When she did the emergency rules, she shut down any challenge to the seven states. . . . That’s how the 2020 Election was really rigged. . . . in 2024, the gap is too big this time.  In 2020, the computer said it was tight.  This one, I don’t think they can cheat that much to actually overthrow it.”

If Trump does win, one of the huge changes going to be pushed is the elimination of federal income taxes.  Let that sink in.  When you hear Donald Trump say he is contemplating doing away with federal taxes, it is not some campaign promise that he intends to break.  Armstrong says this is more than doable.  When Trump says he can fix the economy, Armstrong contends eliminating federal income tax is a turbocharger for the American economy.  Armstrong explains, “If you eliminate the income tax, what will happen is all these other companies that are in different countries are going to want to come here.  It’s going to be the biggest economic boom in absolute history.”

Is this why Trump keeps saying he can “fix the economy”?  Armstrong says, “Oh yes.  The U.S. will make more money than you can ever imagine.  When I testified in front of Congress, I said at least lower the tax rate to 15% on corporates. . . . 15% is what Hong Kong was charging, and that was the only reason people were there. . . . We do not need the income tax anymore because we create money anyway.  We don’t need to get some money back like gold coins from the public so we can pay our bills.  This is an old theory.  So, income tax is something we do not need, and we certainly do not need to borrow anymore.  Our national debt is exploding because of interest expenditures. . . . You eliminate the income tax, and you are going to have the biggest economic boom in absolute history.  You will create so many jobs.  You won’t have to worry about the debt. . . . We would get rid of the debt, and the equity would be private companies.  If you wanted to create your own studio, there would be capital available to do that.”

Armstrong also talks about gold, who is really running the country and extreme civil unrest coming to America after the 2024 Election.

There is much more in the 54-minute interview.

https://tinyurl.com/37ftnauw

 

FOMC MEETINGS 2024

NOV 7
DEC 18

 

OPPORTUNITY TO ACCESS MARK LEIBOVIT’S PROPRIETARY VOLUME REVERSAL INDICATOR – THIS IS THE ONLY PLACE TO DO IT!

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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.

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The Walt Disney Company has been criticized (MYSELF INCLUDED) for its “woke” content and has faced backlash from conservative politicians and social media voices. Some of the criticisms include:

  • Donations to LGBTQIA+ organizations

    Some shareholders have argued that Disney’s donations to organizations that serve the LGBTQIA+ community are “extreme pursuits” that ignore the beliefs of most Americans.

  • Inclusion of LGBTQ+ characters

    Some critics have taken issue with Disney’s inclusion of LGBTQ+ characters and elements in stories, such as a same-sex kiss in Lightyear and a nonbinary character in Elemental.

  • Black Ariel in Little Mermaid

    Some critics have taken issue with the inclusion of a Black Ariel in the recent Little Mermaid.

  • Economic and reputational consequences

    Some claim that Disney’s “woke virtue signaling” has had economic and reputational consequences, with Disney’s market cap falling nearly 40% since February 2021.

In response to these criticisms, Disney CEO Bob Iger has said that:

  • Disney’s biggest priority is entertaining audiences

  • Disney is focused on the future, not the past

  • Disney needs to be more sensitive to the interest of a broad audience

  • Disney’s primary mission is to entertain and then have a positive impact on the world through entertainment

RFK Jr. Shreds Democrats for Abandoning Democracy

https://tinyurl.com/24sh92xa

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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