tyb
chek't…me too.
Market Report
SP500
Volume 3,180,938,060
Avg. Volume 3,944,284,426
NASDAQ
Volume 2,758,263,954
Avg. Volume 2,514,034,918
DOW is on cap#2 and the consolation is the volume(s) are dropping on the down days. Way up on the 'up' days as you have double the buying pressure-fresh longs and shorts who cover those positions. With all the movement of the last 10 days, Dow, Nasdaq, and S&P are still up 2-3% on the week, Small Caps and Trannies are red though. Bank stocks entered a bear market today, tumbling to their weakest since Jan 2019-See Cap#5 and please don't have any money in the big six banks…they have been insolvent for many years. Commodities were clearly divided today with gold-Cap#4 and silver +0.22 +1.28% soaring and copper and crude crushed. Treasury yields crashed today down 10-15bps across the curve with the long-end outperforming. See Cap#3. The Dollar slipped back to post-Powell-cut lows - this is the lowest for the dollar since January. WTI plunged back to a $45 handle after OPEC+ talks did not seem to go well-Putin said no. Gold soared higher all day - to its highest close since Jan 2013-the closing price is taken at 1:30pm EST for the daily "print", it still trades after that fix.
Treasury Notes/Bond Complex at record lows. This is what you need to watch-if you are watching.
Jobless Claims
Data showed that the number of Americans filing for unemployment benefits fell last week, suggesting the labor market was on solid footing despite the coronavirus outbreak, with investors casting an eye toward Friday’s U.S. employment report for February. Labor market strength was underscored by other data on Thursday showing planned job cuts by U.S.-based employers fell sharply in February. While the coronavirus epidemic is expected to slow the economy, the labor market stamina, if sustained, could keep the longest expansion on record, now in its 11th year, on track. Initial claims for state unemployment benefits slipped 3,000 to a seasonally adjusted 216,000 for the week ended Feb. 29, the Labor Department said. Jobless claims are the most timely labor market indicator and are being closely monitored for clues on the coronavirus’ impact on the economy.
Cruise ship stocks take double-digit dives to multiyear lows
Royal Caribbean-16.28% Carnival Cruise Lines -14.14% Norweigian Line Holdings -13.36%
https://www.marketwatch.com/story/cruise-ship-stocks-take-double-digit-dives-to-multiyear-lows-2020-03-05?mod=economy-politics
https://www.marketwatch.com/investing/bond/tmubmusd10y
https://www.marketwatch.com/investing/bond/tmubmusd30y
https://www.reuters.com/article/us-usa-economy-unemployment/u-s-weekly-jobless-claims-fall-labor-market-weathering-coronavirus-for-now-idUSKBN20S1PY
https://finance.yahoo.com/quote/%5EDJI
https://www.kitco.com/charts/livegold.html
lifted the bank index and Treasury charts from zh
sorry forgot this
Buffett Drops $3 Billion LNG Investment in Quebec
Warren Buffett’s Berkshire Hathaway Inc. is pulling out of a gas export project in Quebec after weeks of rail blockades and an oversupplied market eroded the facility’s appeal, according to local reports.
The investment giant was going to provide C$4 billion ($3 billion) for GNL Quebec’s proposed liquefied natural gas plant 290 miles northeast of Montreal, according to Michel Potvin, a city councilor who heads the promotion agency in Saguenay, where the project is based.
La Presse and state broadcaster Radio-Canada first reported that Berkshire was walking away from the project. The Omaha, Nebraska-based holding company declined to comment. A GNL Quebec spokeswoman declined to confirm Berkshire’s role in the project, but she said that after months-long talks, a “major” investor was discouraged by the climate of protests and political hurdles facing energy projects in Canada.
“Of course that’s significant news for us,” said Fortin. “What impact will it have? It’s hard to confirm at this stage and hard to say if it will change our timeline.” Under current assumptions, construction would begin late 2021, and production in 2025, she said. It’s the second time in less than two weeks that political uncertainty in energy-rich Canada is blamed for killing a major investment in the sector. Teck Resources Ltd. last month pulled its application for a controversial new oil-sands mine in Alberta, accusing the country of not having a clear framework to reconcile resource development and climate change.
But the global market for oil and gas isn’t looking attractive for investments either, with the coronavirus outbreak just dealing the latest blow to the outlook for demand. Several LNG shipments are being canceled worldwide, and U.S. developers are being hammered in the equity and bond markets. The glut is poised to worsen, with BloombergNEF estimating that 71 million tons of new annual production was sanctioned last year, with all of it scheduled to come online between 2023 and 2026.
GNL Quebec currently has about 15 financial backers and still need to go through hearings and certifications processes, Fortin said. The C$9 billion project – which aims to bring gas from Alberta to freeze it into a liquid at Saguenay before shipping it overseas – would create as many as 300 jobs locally, she said.
While Saguenay’s cold temperatures and deep water port makes it a strong candidate for the project, Canada’s handling of the rail crisis sent investors the wrong signal, city councilor Potvin said.
https://www.bloomberg.com//news/articles/2020-03-05/buffett-drops-3-billion-lng-investment-in-quebec-reports-say
it's real. been in here before.
I've seen that . it wasn't at one of those sites the first time it came in here. Shit like this gets published at the "rags" because it's so unbelievable. Keep an open mind. is all I'm saying.
Reagan knew from the start. He had little control when he entered the WH and none after the assassination attempt or success.
remember how everyone thought he was crazy towards the back half of his second term? That was so that all the flak could be directed at him or whoever was playing him if those other rumors true. then there is the whole thing about the unknown SSA detail that was only for him- I don't have that cap of document any longer, mebby someone else does.