HISTORICALLY A GOOD SIGN THAT WE ARE AT OR NEAR A MARKET TOP = BULLISH MEDIA HEADLINES LIKE THIS

BULL TRAP STILL UNDERWAY

It symbolizes power, good fortune, and strength and is associated with auspicious traits like intelligence, ambition and charisma. Historically linked with imperial power, Chinese emperors considered themselves descendants of dragons, emphasizing the dragon's esteemed position.

I HAVE BEEN PREDICTNG A BLACK SWAN - BALTIMORE MAY BE ONE OF MANY

PERHAPS THE EFFECTS OF THE APRIL SOLAR ECLIPSE!  SEISMIC RUMBLINGS 150 OFF THE COAST OF VANCOUVER ISLAND NOW UNDERWAY.  MERCURY RETROGRADE BEGINS APRIL 1. NEW MOON AND THE SOLAR ECLIPSE ON APRIL 8.


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In latest act of pure evil, Biden replaces Easter with demonic transgenderism holiday.  Now there can be no question that Biden, the Democrats and the LGBT transgenderism movement is rooted in pure, demonic evil.  All this makes the choice more clear than ever before: You either choose truth, life and God, or you choose left-wing demonism, satanic principles, child mutilations and seething, raging evil at every level.

Back to the markets, Mercury is now retrograde, it is a good period for quick, sharp reversals in financial markets.


Dow, S&P 500 Give Back Ground But Nasdaq Inches Higher

After failing to sustain an early move to the upside, stocks moved mostly lower over the course of the trading day on Monday. The Dow and the S&P 500 gave back ground after ending last Thursday's trading at record closing highs, while the tech-heavy Nasdaq managed to end the day in positive territory.

While the Nasdaq inched up 17.37 points or 0.1 percent to 16,396.83, the Dow slid 240.52 points or 0.6 percent to 39,566.85 and the S&P 500 dipped 10.58 points or 0.2 percent to 5,243.77.

The early strength on Wall Street came as traders finally had an opportunity to react to last Friday's closely watched U.S. consumer price inflation data, which largely came in line with expectations.

The Commerce Department report said the annual rate of consumer price growth ticked up to 2.5 percent in February from 2.4 percent in January, in line with estimates.

Meanwhile, the annual rate of growth by core consumer prices, which exclude food and energy prices, slowed to 2.8 percent in February from an upwardly revised 2.9 percent in January.

Economists had expected the pace of core price growth to come in unchanged compared to the 2.8 percent originally reported for the previous month.

The readings on inflation, which are said to be preferred by the Federal Reserve, were included in the Commerce Department's report on personal income and spending in February.

Buying interest remained somewhat subdued, however, as traders expressed uncertainty about whether inflation is slowing quickly enough to guarantee the interest rate cuts expected by the Fed.

The subsequent pullback by stocks came as a report from the Institute for Supply Management unexpectedly showing modest growth in U.S. manufacturing activity in the month of March contributed to a jump by Treasury yields.

The ISM said its manufacturing PMI jumped to 50.3 in March from 47.8 in February, with a reading above 50 indicating growth in the sector. Economists had expected the index to inch up to 48.4.

With the much bigger than expected increase, the index returned to expansion territory for the first time since September 2022.

The ISM said the prices index also jumped to 55.8 in March from 52.5 in February, as commodity driven costs remain unstable.

Sector News

Airline stocks came under considerable selling pressure over the course of the session, resulting in a 1.9 percent slump by the NYSE Arca Airline Index. The index gave back ground after ending last Thursday's trading at a three-month closing high.

Significant weakness was also visible among interest rate-sensitive commercial real estate stocks, as reflected by the 1.8 percent loss posted by the Dow Jones U.S. Real Estate Index.

Interest rate-sensitive housing and telecom stocks also saw notable weakness on the day, dragging both the Philadelphia Housing Sector Index and the NYSE Arca North American Telecom Index down by 1.4 percent.

Banking, pharmaceutical and brokerage stocks also moved lower, while gold, computer hardware and semiconductor stocks moved to the upside.

Among semiconductor stocks, Micron Technology (MU) surged by 5.5 percent after Bank of America raised its price target on the company's stock to $144 per share from $120 per share.

Other Markets

In overseas trading, stock markets across the Asia-Pacific region turned in a mixed performance on Monday, with several major markets closed for holidays. Japan's Nikkei 255 Index tumbled by 1.4 percent, while China's Shanghai Composite Index jumped by 1.2 percent.

Meanwhile, the major European markets were all closed on the day for Easter Monday.

In the bond market, treasuries moved sharply lower in reaction to the latest U.S. economic data. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 11.9 basis points at 4.325 percent.

Looking Ahead

Trading on Tuesday may be impacted by reaction to reports on factory orders and job openings as well as remarks by several Fed officials.


The economic consequences of the calamity in Baltimore are likely to be substantial.

A Supply and Demand Shock

Economists call this a "supply shock," and it is likely to lead to a resurgence of goods inflation and possibly temporary shortages of some goods. The rerouting of shipping and subsequent congestion at other ports will mean that even goods that were never destined to come through Baltimore may be subject to delivery delays.

“This period of deflation in goods that we’ve been in for the last six months or so — we are probably coming out of that,” Citigroup economist Andrew Hollenhorst said in a Bloomberg TV interview on Tuesday.

There's also a "demand shock" component. Clearing the channel and rebuilding the bridge will take manpower, materials, and time that would have otherwise gone to other projects. Some of those will have to be put on hold. The additionaldemand will also fuel inflation, particularly in an economy already straining at full employment and near its productive capacity.

Baltimore is one of the largest ports on the eastern seaboard of the United States. It is the fifth largest port on the East Coast by total tons of cargo handled, according to the Bureau of Transportation Statistics, and the seventeenth largest overall in the United States.

Those numbers understate its importance to the U.S. economy. The port is the twelfth largest container port in the U.S., according to Ryan Peterson, the CEO of Flexport. It was ninth in terms of the tonnage and value of foreign cargo, according to the governor of Maryland.

It was the first in terms of the volume of automobiles and light trucks (including 847,158 cars and light trucks), heavy farm and construction machinery, imported sugar, and imported gypsum, the governor’s office said in a statement last year.

"Around the world, about 40 ships, including 34 cargo vessels, have Baltimore listed as a destination, including 10 commercial ships with anchors dropped in nearby waters, according to MarineTraffic, which tracks ships," the New York Times reported last Tuesday.

Baltimore's port is also the second largest terminal for coal exports, handling around 74 million tons of coal last year, according to Bloomberg.

"The collapse of a major Baltimore bridge is likely to shut down coal exports for as many as six weeks and block the transport of up to 2.5 million tons of coal, said Ernie Thrasher, chief executive officer of Xcoal Energy & Resources LLC," Bloomberg reported.

A Costly and Lengthy Recovery

The port is completely shut down in the wake of the collision of the Dali with the Key bridge and the near-total collapse of the bridge. It is likely to take weeks or even months to get the port back in working order given the position of the bridge. Perhaps portions the channel can be cleared more quickly but that is unclear at this time.

The Baltimore Field Office of the Federal Bureau of Investigation said in a press release that there is “no specific and credible information to suggest any ties to terrorism at this time.” United States Attorney for the District of  Maryland Erek L. Barron also dispelled attack rumors.

Editor: This confirms it was terrorism!

 


Former U.S. Ambassador to Israel David Friedman lambasted the Biden administration and the Democratic Party over the refusal of the American mission to the United Nations to invoke the U.S. veto to block a Security Council resolution demanding an immediate ceasefire in the Gaza Strip.


 

 

Israeli Prime Minister Benjamin Netanyahu posted a tweet on the social media website X, Wednesday, expressing his sorrow at the passing of Joe Lieberman.

Lieberman was, as noted by The Washington Post, the first Jewish candidate on a national ticket for a major party in the U.S. when he ran as Al Gore's running mate.

"Sara and I grieve with Hadassah and the entire Lieberman family on the passing of our beloved Joe Lieberman," Netanyahu wrote, referring to Sara, his wife, and Hadassah, Joe's spouse, in the remarks.


Canada’s vibrant Vancouver Islands were shook by almost 2,000 tremors in a single day earlier this month. And some digging around the coast has revealed that this isn’t a cause for concern, rather a profound geological process that  involves the birth of a new ocean floor in the area!

Earlier this month, the Endeavour site, located roughly 240 kilometres offshore and situated on the Juan de Fuca Ridge, experienced a remarkable earthquake swarm in a single day. Unlike the powerful earthquakes that can devastate coastal regions, these tremors were relatively small, registering mostly below a magnitude of one. "Mid-ocean ridges aren't actually capable of producing that large of earthquakes," Zoe Krauss, a doctoral candidate in marine geophysics at the  University of Washington, explains.

What these tremors do reveal is the ongoing process of seafloor spreading. The Endeavour site sits on a mid-ocean ridge, where the Pacific and Juan de Fuca plates are slowly pulling apart. As these plates stretch, they can extend by about 3.3 feet (1 metre) before reaching a critical point. This stretching thins the Earth's crust, creating long fault lines and allowing molten rock (magma) from the mantle to rise up. Eventually, this magma cools and hardens, forming a new ocean floor.

The recent earthquake swarm suggests the seafloor at the Endeavour site may have reached its maximum stretch, triggering these small tremors. According to Krauss, the most likely scenario is that magma is now on its way up to fill the gaps and solidify, adding a new piece to the ocean floor.

This isn't the first time the Endeavour site has shown signs of increased seismic activity. Krauss points out that the region has become more active since 2018, with March 6th marking the peak of this recent swarm. The good news is that  the activity has since calmed down, though it remains slightly more elevated than usual.

The Endeavour site is continuously monitored by the North-East Pacific Time-series Undersea Networked Experiments (NEPTUNE), a network run by Ocean Networks Canada. This ongoing monitoring provides scientists with invaluable data. While the continuous monitoring began in 2011, this is the first time researchers have had access to near real-time data of a magma intrusion event like this. This opens doors to a wealth of new information about the process of ocean floor formation.

For Krauss and her colleagues, the questions are plentiful. They're eager to understand the impact this event might have on the unique ecosystem surrounding the hydrothermal vents at the Endeavour site. Additionally, they're curious about the source of the magma that will ultimately form the new crust. These tiny tremors, far from being a cause for alarm, are a scientist's dream — a window into the dynamic processes that continuously reshape our planet.


Larry Fink Warns of ‘Snowballing Debt’ Hitting US Economy -Yahoo! Finance

 BlackRock Inc. Chief Executive Officer Larry Fink said the US public debt situation “is more urgent than I can ever remember” and that the country needs to adopt policies to spur economic growth.

The nation can’t rely on taxes and spending cuts to get the problem under control, Fink wrote in his annual letter Tuesday. He raised the prospect of a “bad scenario” akin to Japan’s economy in the late 1990s and early 2000s, which led to a period of austerity and stagnation.

“A high-debt America would also be one where it’s much harder to fight inflation since monetary policymakers could not raise rates without dramatically adding to an already unsustainable debt-servicing bill,” said Fink, 71.

The cost of servicing the debt has already ballooned, and the 3 percentage points in extra interest payments the US government now must pay on 10-year Treasuries compared with three years ago is “very dangerous,” he wrote.

“More leaders should pay attention to America’s snowballing debt,” Fink wrote, saying the US can’t take for granted that investors will continue to want to buy as much US debt. Foreign countries are building their own capital markets and are likely to invest domestically, he said

 


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