https://www.howestreet.com/2024/10/gold-silver-oil-cycles-brics-inflation-eric-hadik-mark-leibovit-ross-clark-this-week-in-money/

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

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Russia is working on creating a settlement and payment infrastructure that would bypass the SWIFT payment system and abandon the U.S. dollar for good.

95% of trade between Russia and China already is conducted in rubles and yuan.

The new members of BRICS are expected to be Cuba, Bolivia, Thailand, Vietnam, Malaysia, Indonesia, Belarus, Turkey, Nigeria, Uganda, Kazakhstan, and Uzbekistan. The decision by Turkey to attend raised eyebrows after the NATO member formally requested to join BRICS in September.

In short, Putin and his growing list of allies are plotting to overthrow the U.S. dollar and establish a new “anti-dollar” to govern the world in its place.

This is a full-blown attack on America, as former President Donald Trump warned that when the dollar stops being the world’s reserve currency, it will be like “losing a world war.”

After ending Thursday’s session on opposite sides of the unchanged line, the major U.S. stock indexes turned in another mixed performance during trading on Friday. While the tech-heavy Nasdaq added to yesterday’s strong gain, the Dow extended its losing streak to five sessions.

The Nasdaq reached a new record intraday high in early trading but gave back ground over the course of the session before ending the day up 103.12 points or 0.6 percent at 18,518.61.

Meanwhile, the Dow slid 259.96 points or 0.6 percent to 42,114.40, pulling back well off last Friday’s record closing high. The S&P 500 also edged down 1.74 points or less than tenth of a percent to 5,808.12.

The major averages also turned in a mixed performance for the week. The Dow tumbled by 2.7 percent and the S&P 500 slumped by 1.0 percent, but the Nasdaq rose by 0.2 percent.

Stocks moved mostly higher early in the session, with the major averages all moving to the upside amid ongoing optimism about the outlook for the economy.

Adding to the economic optimism, the University of Michigan released revised data showing consumer sentiment unexpectedly improved in the month of October.

The University of Michigan said its consumer sentiment index for October was upwardly revised to 70.5 from a preliminary reading of 68.9. Economists had expected the index to be upwardly revised slightly to 69.0.

With the bigger than expected upward revision, the consumer sentiment index is now modestly above the final September reading of 70.1.

The consumer sentiment index has now increased for the third consecutive month, reaching its highest level since hitting 77.2 in April.

Buying interest waned over the course of the session, however, as treasury yields rebounded following yesterday’s pullback amid lingering concerns the Federal Reserve will lower interest rates slower than previously anticipated.

The Fed is still widely expected to lower rates by a quarter point next month, but CME Group’s FedWatch Tool currently indicates a 24.0 percent chance the central bank will leave rates unchanged in December.

The extended losing streak by the Dow came amid notable declines by shares of McDonald’s (MCD), Dow Inc. (DOW) and Travelers (TRV).

Sector News

Airline stocks showed a substantial rebound after falling sharply on Thursday, with the NYSE Arca Airline Index surging by 2.0 percent.

A sharp increase by the price of crude oil also contributed to significant strength among oil service stocks, as reflected by the 1.3 percent gain posted by the Philadelphia Oil Service Index.

On the other hand, gold stocks came under pressure despite a modest increase by the price of the precious metal, dragging the NYSE Arca Gold Bugs Index down by 2.1 percent.

Interest rate-sensitive utilities and housing stocks also saw notable weakness amid lingering concerns about the outlook for rates.

Other Markets

In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance during trading on Friday. Japan’s Nikkei 225 Index slid by 0.6 percent, while China’s Shanghai Composite Index climbed by 0.6 percent.

Meanwhile, the major European markets ended the day narrowly mixed. While the German DAX Index crept up by 0.1 percent, the French CAC 40 Index edged down by 0.1 percent and the U.K.’s FTSE 100 Index fell by 0.3 percent

In the bond market, treasuries moved to the downside over the course of the session after showing a lack of direction in early trading. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, climbed 3.2 basis points to 4.232 percent.

Looking Ahead

Next week’s trading is likely to be driven by reaction to the monthly jobs report as well as a report on personal income and spending that includes the Fed’s preferred inflation readings.

Reports on consumer confidence, pending home sales and manufacturing sector activity may also attract some attention.

Earnings news is also likely to be in focus, with Alphabet (GOOGL), Amazon (AMZN), Exxon Mobil (XOM), Intel (INTC), McDonald’s (MCD), Meta Platforms (META), Microsoft (MSFT) and Pfizer (PFE) among the companies due to report their quarterly results.

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https://tinyurl.com/4yuhvs2z

https://tinyurl.com/2ejnk9mh

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https://tinyurl.com/2fxvpr32

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TERRIFIC MARTIN ARMSTRONG INTERVIEW ON TRACK 3

https://www.howestreet.com/2024/10/silver-gold-uranium-us-civil-war-real-estate-martin-armstrong-hilliard-macbeth-ross-clark-this-week-in-money/

 

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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.

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.

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• 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: 

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RFK Jr. Shreds Democrats for Abandoning Democracy

https://tinyurl.com/24sh92xa

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I USE JOEL WALLACH’S SUPPLEMENTS EVERY DAY.  MAY AGAIN PROVIDE A LINK TO PURCHASE THEM HERE

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