The United States is not yet the closest it has ever been to default, but that may soon change. The secretary of the Treasury has indicated that it is unlikely the federal government will have sufficient cash or borrowing authority to pay all anticipated obligations due on June 1.  According to a report from late 2023, the National Bureau of Economic Research (NBER) believes that 385 American banks could fail because of commercial real estate loans. That is the big danger we see, bigger than the building owners failing. In fact, one regional bank, Philadelphia’s Republic First Bancorp, failed last Friday.

Not new, but got to watch this clip regarding the FED and printing money

https://tinyurl.com/46nj8bsj

 


https://www.howestreet.com/2024/05/gold-oil-dow-real-estate-mortgage-rates-evs-mark-leibovit-hilliard-macbeth-ross-clark-this-week-in-money/


WHO IS MARK LEIBOVIT?

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


In today’s world, TRUTH is the enemy of the corrupt people in charge. And there is an unlimited number of them.

 

Supposed Tamer-Than-Expected Inflation Data Leads To New Record Highs On Wall Street

With traders reacting positively to closely watched consumer price inflation data, stocks moved sharply higher during trading on Wednesday. The major averages added to Tuesday's gains, setting new record closing highs.

The major averages saw further upside late in the session, reaching new highs for the day. The tech-heavy Nasdaq surged 231.21 points or 1.4 percent to 16,742.39, the S&P 500 shot up 61.47 points or 1.2 percent to 5,308.15 and the Dow jumped 349.89 points or 0.9 percent to 39,908.00.

The rally on Wall Street came following the release of a Labor Department report showing consumer prices in the U.S. rose by slightly less than expected in the month of April.

The Labor Department said its consumer price index increased by 0.3 percent in April after rising by 0.4 percent in March. Economists had expected consumer prices to climb by another 0.4 percent.

Excluding food and energy prices, core consumer prices still rose by 0.3 percent in April after climbing by 0.4 percent in March. The increase in core prices matched economist estimates.

The report also said the annual rate of consumer price growth slowed to 3.4 percent in April from 3.5 percent in March, in line with expectations.

The annual rate of core consumer price growth decelerated to 3.6 percent in April from 3.8 percent in March. The slowdown also matched estimates.

Following yesterday's hotter-than-expected producer price inflation data, the report added to recently renewed optimism about the outlook for interest rates.

"The CPI print offered a modicum of hope that inflation is cooling, albeit slowly," said Quincy Krosby, Chief Global Strategist for LPL Financial.

She added, "The Fed will certainly need a series of cooler reports for adjusting its rate easing timetable, but the CPI report suggests that the path towards 2% is a bit less bumpy."

Meanwhile, the Commerce Department released a separate report showing retail sales in the U.S. unexpectedly came in flat in the month of April.

The Commerce Department said retail sales were virtually unchanged in April after climbing by a downwardly revised 0.6 percent in March.

Economists had expected retail sales to rise by 0.4 percent compared to the 0.7 percent increase originally reported for the previous month.

Excluding sales by motor vehicle and parts dealers, retail sales edged up by 0.2 percent in April after jumping by 0.9 percent in March. The uptick matched economist estimates.

Sector News

Computer hardware stocks saw substantial strength on the day, driving the NYSE Arca Computer Hardware Index up by 4.1 percent to a record closing high.

Shares of Dell (DELL) soared after Morgan Stanley raised its price target on the computer maker's stock to $152 from $128, calling it the "best way to play" the AI infrastructure build-out.

Significant strength was also visible among housing stocks, as reflected by the 3.4 percent surge by the Philadelphia Housing Sector Index.

The index reached its best closing level in over a month even though a report from the National Association of Home Builders showed an unexpected slump by homebuilder confidence in May.

Semiconductor stocks also moved sharply higher over the course of the session, with the Philadelphia Semiconductor Index jumping by 2.9 percent to a two-month closing high.

Software, brokerage and commercial real estate stocks also saw considerable strength, while airline stocks were among the few groups that bucked the uptrend.

Other Markets

In overseas trading, stock markets across the Asia-Pacific region once again ended mixed on Wednesday, with markets in Hong Kong and South Korea closed for holidays.

Japan's Nikkei 225 Index inched up by 0.1 percent and Australia's S&P/ASX 200 Index rose by 0.4 percent, while China's Shanghai Composite Index slid by 0.8 percent.

Meanwhile, the major European markets all moved to the upside on the day. While the German DAX Index advanced by 0.8 percent, the U.K.'s FTSE 100 Index and the French CAC 40 Index both edged up 0.2 percent.

In the bond market, treasuries have moved sharply higher in reaction to the consumer price inflation data. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is down by 10.1 basis points at 4.344 percent.

Looking Ahead

Trading on Thursday may be impacted by reaction to another slew of U.S. economic data, including reports on weekly jobless claims, industrial production and import and export prices.


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

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 FOLKS THIS ALL YOU NEEDED TO KNOW! HISTORICALLY A GOOD SIGN THAT WE ARE AT OR NEAR A MARKET TOP = BULLISH MEDIA HEADLINES LIKE THIS. RECALL THE MARCH 10, 2000 TOP HEADLINE IN THE WALL STREET JOURNAL (BELOW) RIGHT AT THE TOP!

DID YOU MISS THE RECENT  METASTOCK  MARK LEIBOVIT WEBINAR - POWERPOINT?

https://tinyurl.com/yc45s35c


COME ON, DAD. IT'S TIME TO EAT

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