Baltic Dry Index. 1072 +43 Brent Crude 76.51
Spot Gold 2640 U S 2 Year Yield 4.28 +0.03
Ninety percent of the politicians give the other ten percent a
bad reputation.
Henry A. Kissinger.
Not
much need for my input today, but next week and the rest of January are likely
to set the stock casinos short term direction.
S&P
500, Nasdaq snap five-day losing streak, but still close lower on the week:
Live updates
Updated
Fri, Jan 3 2025 4:46 PM EST
Stocks
closed higher Friday as Wall Street recovered following a shaky start to the
new year.
The S&P 500 closed up 73.92
points, or 1.26%, at 5,942.47, and the Dow Jones Industrial Average advanced
339.86 points, or 0.8%, to end the day at 42,732.13. The Nasdaq Composite gained
340.88 points, or 1.77%, to close at 19,621.68.
Tech
stocks were a bright spot for the market on Friday. Chip giant Nvidia climbed
4.7%, while server maker Super Micro Computer jumped 10.9%.
Those
stocks could benefit from continued spending on artificial intelligence, as
will Constellation Energy and Vistra, with shares up 4% and 8.5%,
respectively. Microsoft announced Friday that it would spend
$80 billion on AI-enabled data centers in fiscal 2025, and
power producers have been boosted by the trend.
The
rally on Friday was broad, though some of the best performers were also big
winners during last year’s rally.
“The
secular growth drivers that have been driving earnings growth and market gains
over the last two years, I think they’re still on strong footing and will
continue to drive those earnings gains,” Jeremiah Buckley, portfolio manager at
Janus Henderson Investors, said on CNBC’s “Squawk on the Street.”
Friday’s
rally snapped a five-day losing streak for the Nasdaq and the S&P 500, but
it was not enough to make the major averages winners on the week. The S&P
500 finished the week down 0.48%, while the Dow lost 0.60%. The Nasdaq
Composite lost 0.51%.
That
weakness for stocks also means the “Santa Claus” rally, in which stocks gain in
the final five trading days of one year and the first two of the next, failed
to materialize. The market cooled in the final weeks of 2024, but the averages
are still not too far from record highs after a strong year for Wall Street.
“Generally,
these are the days that you kind of have people just moving to the sidelines
after what’s been a pretty tough last four weeks. And the fact that today
you’re not seeing that means that perhaps this is an orderly type of
consolidation, not a beginning of some sort of incredibly painful period,” Mark
Hackett, chief market strategist at Nationwide Financial, told CNBC.
News
out of Washington, D.C., was spurring some individual stock moves on Friday.
Shares of U.S. Steel fell 6.5% after President Joe Biden said he would block
the proposed acquisition by Nippon Steel. Booze
and beer stocks declined after the U.S. surgeon general issued an
advisory on cancer risk related to alcohol consumption, with Molson Coors
falling 3.4%
Stock
market today: Live updates
European
stocks close lower; Stellantis slides 4% after production plunge
Published
Fri, Jan 3 2025 2:02 AM EST Updated Fri, Jan 3 2025 11:57 AM EST
European
markets closed lower on Friday after a rocky start to 2025 for stocks around
the world.
The Stoxx 600 index closed
0.49% lower, losing most of Thursday’s gains as sectors pulled back.
Autos
stocks were among the worst performers, down 1.79%, while travel and leisure
stocks shed 1.62%. One of the few sectors to rise was financial services, with
stocks last seen 0.4% higher.
Oil
and gas stocks also rose over 1%, led by gains for Finnish oil refiner Neste, which climbed 4.8% on reports of
a series of new airline fuel contracts.
At
the other end of the Stoxx 600, Stellantis was
down 3.8% after the Italian carmaker reported a 45.7% reduction in car
production in 2024 — its lowest output since 1956, according to Reuters.
U.S.
stocks opened higher following a choppy start to 2025 which marked the
fifth consecutive session of declines for the S&P 500 and Nasdaq Composite.
Asia-Pacific
markets were mixed overnight, with Chinese stocks extending declines
as investors assessed policy signals from Beijing, while Hong Kong’s Hang Seng index and South
Korean markets were both in positive territory.
On
the data front, Turkey’s consumer price index fell to 44.38% on an
annual basis in December, down from 47.09% in November. Economists had expected
inflation to fall to 45.2%, according to a Reuters poll.
A flash reading of the Polish consumer price index
reflected a 4.8% increase in December on an annual basis, also below a Reuters
forecast.
Meanwhile,
the German federal labor office said the number of unemployed
people increased by 33,000 to 2.807 million in December compared to the
previous month. The unemployment rate edged 0.1% higher to 6%, the agency
added.
European
markets: stocks, news and data
In
other news.
Foreign
phone sales plunge 47% in China, spelling trouble for Apple
Published
Fri, Jan 3 2025 7:23 AM EST Updated Fri, Jan 3 2025 10:06 AM EST
Sales
of foreign phone brands in China plunged in November, according to official
data released Friday, underscoring further pressure on Apple, the biggest international
handset vendor in the country.
In
November, foreign mobile phone shipments in China stood at 3.04 million units,
according to CNBC calculations based on data from the China Academy of
Information and Communications Technology, or CAICT.
That’s
a fall of 47.4% from November 2023, and a 51% drop from October last year.
CAICT
does not break down figures for individual brands, however Apple accounts for
the majority of foreign mobile phone shipments in China with competitors like
Samsung forming only a tiny part of the market.
The
figures highlight the mounting pressure Apple is under in the world’s largest
smartphone market as it battles rising competition from domestic brands.
Huawei,
for instance — whose handset business was crippled
by U.S. sanctions — saw a resurgence
in the back end of 2023 and has aggressively launched high-end
smartphones in China that have proved
popular with local buyers.
Huawei’s
growth far outstripped Apple in the third quarter of last year,
according to the latest data from research firm IDC.
Apple
is hoping its iPhone 16 series, which was released in September, will help the
company regain momentum in China, with the Cupertino, California, tech giant
promising a host of new artificial intelligence features via its Apple
Intelligence software.
However,
Apple Intelligence is not yet available in China due to complex
regulations around AI in the country.
In
the meantime, some of Apple’s domestic rivals have been touting
their own AI features that are available on devices now.
In
a show of how critical China is for the iPhone giant, Apple CEO Tim Cook visited
the country multiple times last year in an effort to shore
up partnerships for Apple Intelligence with local Chinese firms.
In
a bid to spur interest in the iPhone 16, Apple
will begin discounts for the device on Saturday as part of a Lunar New
Year holiday promotion.
Apple
did not immediately respond to a request for comment.
Foreign phone sales plunge 47% in China, spelling trouble for Apple
If Lincoln were alive today, he'd be turning over in his grave.
President Gerald R. Ford.
Global Inflation/Stagflation/Recession
Watch.
Given our Magic Money
Tree central banksters and our spendthrift politicians, inflation/recession now needs an entire
section of its own.
I know
I am getting better at golf because I am hitting fewer spectators.
President Gerald R. Ford.
Friday 03 January 2025 7:47
am | Updated: Friday 03 January 2025 7:49 am
Businesses
gloomy about state of economy before Budget tax rises
Business leaders remain gloomy about the state of
the economy entering the New Year, a new survey shows, as they anticipate the
impact of the Budget’s tax increases.
The Institute of Directors’ economic confidence
index, which measures business sentiment about the economy, rose to -61 in
December, up from -65 the month before but still the fourth lowest reading
since the measure’s introduction in July 2016.
The survey demonstrates that corporate confidence in
the UK economy has plummeted since October’s Budget.
Chancellor Rachel Reeves hiked employers’ national insurance to 15 per cent in the
fiscal event, while also slashing the threshold at which employers have to
start paying the levy.
Business groups have warned that they will have to
slash jobs and investment budgets in order to deal with the tax increase while
data since the Budget suggests economic momentum has already faded.
The UK economy recorded no growth in October for the
second consecutive month and has been more or less stagnant since June.
“IoD members remained cautious on the outlook for
the year ahead when we surveyed them over the festive period,” Anna Leach,
chief economist at the IoD said.
The survey also showed an improvement in most
forward looking indicators for businesses’ own prospects, although the metrics
remained well below levels since earlier in the year.
Investment intentions rose to 0 in December, from
-20 in November, while headcount expectations rose to -1 from -24 in the same
period.
To generate more lasting improvement, Leach urged
the government to provide businesses with the policy stability to make
long-term investments.
“The government must move swiftly to deliver a
policy environment in the UK that strengthens investment, with Industrial
Strategy, 10 year infrastructure plans and planning reform presenting material
opportunities,” she said.
Businesses gloomy about state of economy before Budget tax rises
'Slow grind' tipped for 2025 economy as
interest rates, unemployment, inflation, China and Trump collide
January 2, 2025
Leading economists
described 2024 as a year of great divergence, where how you fared in the economy depended on your housing
situation.
Interest rates
and inflation sapped millions of renters and people paying off mortgages, while
boosting the fortunes of largely older people with assets, booming share
portfolios and paid-off housing.
2025 will mark a
change, according to Challenger chief economist Jonathan Kearns, but not a
quick one.
"I think
it's going to be a slow grind out of the situation that we're in."
"GDP growth
will slowly pick up as the effects of high inflation dissipate, and consumers
will have a bit more confidence in spending once we start getting some interest
rate cuts," he predicts.
But he expects
growth in gross domestic product (GD) — the value of all the goods and services
created in a certain time — to recover in 2025, but only slowly.
It's part of a
complex forecast for the economy in the coming year.
ABC News spoke
to leading economists, whose views impact the allocation of billions of
dollars, about what they see happening.
Interest rates to fall, but not
quickly or soon
AMP deputy chief
economist Diana Mousina says if we take statements of the Reserve Bank as
sacred texts, we would need to see inflation well under control before it
starts to cut interest rates.
But most of the
market, and the analysts that cover the field in intense detail, see the
central bank cutting rates, most likely beginning at its May board meeting.
"Our view
is that we're going to get a faster slowing in the Australian economic backdrop
that will really push the Reserve Bank to start cutting interest rates in early
2025."
Independent
economist Nicki Hutley would be "proactive" and cut rates from
February, she says, while at the same time not expecting the RBA to take her
advice on that.
"I think it
would be very unusual if we weren't to see lower rates in the first half of
(2025), if not the first quarter," she says.
But she has a
warning for stretched borrowers expecting relief from large repayments on
variable mortgages.
"We can't
expect massive cuts in rates — the neutral rate of interest, the cash rate, is
just over 3 per cent around most people's estimates.
"So yes, we
might see a couple of rate cuts, two or even three, but we shouldn't expect to
see very, very sharp or substantial rate cuts through that period."
More
Covid-19
Corner
This section will
continue until it becomes unneeded.
Is
HMPV another Covid-19-like scare in China? What we know so far
China is witnessing a surge in respiratory illnesses, including HMPV,
influenza, and Covid-19, predominantly affecting children and the elderly, as
healthcare systems face mounting pressure
Jan 03 2025 | 10:47
AM IST
Five years after the
onset of the Covid-19 pandemic, China is grappling with an outbreak of the
human metapneumovirus (HMPV). Reports and social media posts suggest that the
virus is spreading rapidly, with allegations of overwhelmed hospitals and
crematories. Online videos show overcrowded hospitals, while users claim that
multiple viruses — including influenza A, HMPV, Mycoplasma pneumoniae, and
Covid-19 — are circulating simultaneously.
What’s happening in China?
Despite the rise in
respiratory illnesses, neither the Chinese government nor the World Health
Organization (WHO) has issued an official warning or declared an emergency.
The surge in cases
is primarily affecting children and the elderly. Young children with developing
immune systems are particularly vulnerable, while older adults and those with
pre-existing conditions like asthma or COPD face heightened risks of severe
complications. Symptoms resemble those of the flu or a cold, including fever,
cough, and runny nose, with some patients experiencing wheezing. Severe cases
can lead to bronchitis or pneumonia.
Experts attribute this
increase in respiratory illnesses, including HMPV, to colder weather and the
resumption of normal activities post-Covid-19. Years of strict lockdowns and
reduced social interaction had limited the spread of many viruses, leaving people
— especially children — less exposed to common pathogens. As social
interactions return, many are encountering these viruses for the first time,
creating a “catch-up” period.
China’s monitoring system
In response to the rising
cases, China’s disease control authorities are adopting proactive measures.
According to Reuters, health officials have launched a pilot system
to monitor pneumonia of unknown origin. This initiative is aimed at improving
preparedness for respiratory diseases during the winter months. The move
contrasts with the country’s limited readiness during the initial outbreak of
Covid-19.
The National Disease
Control and Prevention Administration (NCDPA) has issued protocols requiring
laboratories to report cases, while disease control agencies will verify and
handle them. Official data indicates an increase in respiratory infections for the
week of December 16 to 22.
----What is Human
Metapneumovirus (HMPV)?
Human metapneumovirus
(HMPV) is a viral infection that typically leads to symptoms resembling those
of the common cold. It often causes upper respiratory infections, though it can
sometimes lead to more severe conditions such as pneumonia, asthma flare-ups,
or aggravate chronic obstructive pulmonary disease (COPD). HMPV infections are
most prevalent during the winter and early spring months.
HMPV is commonly
contracted by children before the age of five. Although it is possible to
experience HMPV more than once, subsequent infections generally result in
milder symptoms.
What are the symptoms of HMPV?
Symptoms of HMPV
infection include a cough, fever, runny or blocked nose, sore throat, wheezing,
shortness of breath, and rashes.
More
Is HMPV another Covid-19-like scare in China?
What we know so far | Health News - Business Standard
Technology Update.
With events happening
fast in the development of solar power and graphene, I’ve added this section.
Scientists bent atoms in an experiment everyone thought was
impossible
Published Jan 2nd, 2025 9:15PM EST
Scientists have demonstrated that atoms
can exhibit wave-like behavior, challenging long-held assumptions that
experiments of this nature were impossible and opening new doors in quantum
physics. The experiment uses atoms and a one-atom-thick graphene sheet to
recreate a classic quantum phenomenon: Particle diffraction.
This research could pave the way for
revolutionary technologies, including highly sensitive gravitational wave
detectors. The story begins several decades ago, in 1927, when physicist George
Paget Thomson revealed that electrons, when passed through a crystal grating,
produce a diffraction pattern—a hallmark of wave-like behavior.
Thomson’s discovery not only earned him
a Nobel Prize but also fueled advancements such as the electron microscope. For
nearly a century, scientists have sought to replicate this diffraction effect
in an impossible experiment with atoms. However, traditional methods required
specially engineered gratings with relatively large gaps, limiting the
sensitivity of the resulting patterns.
The crux of the issue was that using a
crystal grating for atoms was deemed impossible because high-energy atoms,
necessary for the process, were expected to damage the crystal. However,
researchers at the German Aerospace Center have now achieved the seemingly
impossible.
They’ve directed high-energy helium and
hydrogen atoms at a graphene sheet—a single layer of carbon atoms. Remarkably,
after 100 hours of exposure, the graphene showed no damage, and a distinct
circular diffraction pattern was recorded. This experiment marks the first
successful demonstration of atomic diffraction through a crystal grating.
The secret lies in the energy dynamics
of the atoms. By exchanging energy with graphene atoms undetectably, the atoms
retained their quantum wave properties. Bill Allison from the University of
Cambridge explains this phenomenon with a vivid analogy: it’s like opening and
closing a door silently in a crowded room—no one knows which door was used,
preserving the wave-like behavior.
The implications are profound. This
discovery could lead to the development of atomic interferometers with
unmatched sensitivity, potentially detecting gravitational waves beyond the capability of current technology.
Scientists are optimistic about the potential applications of atomic
diffraction, hailing the experiment as a bold leap forward in quantum research.
This achievement not only redefines
what’s possible in quantum mechanics but also highlights the ever-evolving
nature of science, where seemingly insurmountable challenges inspire
innovations that shape the future.
Scientists bent atoms in an experiment everyone thought was impossible
Next, the
world global debt clock. Nations debts to GDP compared.
World Debt Clocks (usdebtclock.org)
This
weekend’s music diversion. Mr. Johann
Friedrich Fasch, again. Approx. 8 minutes.
J.F.Fasch:
Concerto in D major for 2 Obs, 2 Hns, 2 Bns, Strings & B.c FWV L:D16
J.F.Fasch:
Concerto in D major for 2 Obs, 2 Hns, 2 Bns, Strings & B.c FWV L:D16 -
YouTube
This
weekend’s EV diversion. Approx 3
minutes.
Europe
Just Destroyed the EVs Industry with This — And It’s a Shocking Blow!
Europe Just
Destroyed the EVs Industry with This — And It’s a Shocking Blow! - YouTube
This
weekend’s final diversion. Approx 6 minutes.
Physicists
Claim They Solved Schrödinger's Cat Problem
Physicists Claim
They Solved Schrödinger's Cat Problem
Who controls the food supply controls the people; who controls
the energy can control whole continents; who controls money can control the
world.
Henry A. Kissinger
