Baltic
Dry Index. 1430 +08 Brent
Crude 65.36
Spot Gold 3354 US 2 Year Yield 3.96 +0.02
US Federal Debt. 36.934 trillion US GDP 30.049 trillion.
The chief business of the American people is business.
Calvin Coolidge
Stocks, to infinity and beyond. Well maybe. We are rapidly approaching the end of Trump’s 90 day pause in most trade war tariffs, with almost no trade deals announced.
Will President “TACO” chicken out or let the paused tariffs go into full effect?
The stock casinos are all in on President Trump chickening out on tariffs.
But what if President Trump doesn’t “chicken out?”
The stock casinos are about four weeks away from finding out.
In a stock casino game of chicken,
Dinosaur Graeme thinks it best to sit this game out.
Updated Wed, Jun 4 2025 12:36 AM EDT
Asia-Pacific markets advanced
Wednesday after Wall Street rose on the back of a tech rally, led by
chipmaker Nvidia, with
South Korean stocks leading gains.
Shares in the artificial
intelligence darling advanced nearly 3%, extending Monday’s gains and driving
Nvidia’s market cap past
Microsoft’s for the first time since January. Chip companies Broadcom and Micron Technology rose more
than 3% and 4%, respectively.
South Korean markets rose as
opposition party leader Lee
Jae-myung won the presidential election. The Kospi index popped 2.34%
to hit
its highest level since August last year, while the small-cap
Kosdaq advanced 1.4%.
Lee’s “election pledge has placed
considerable weight on enhancing the value of the Korean stock market,” John
Cho, Korea equity portfolio manager at J.P. Morgan Asset Management, said in a
note.
His plan to amend the
commercial law, which will broaden the legal duties of board members to include
protecting the interests of minority shareholders, will “encourage
boards to make fewer value-destructive decisions and more value-accretive
ones,” Cho explained.
Looking ahead, he expects the
incoming South Korean government to adopt aggressive fiscal stimulus to revive
the domestic economy while also “pragmatically” handling international trade
matters.
“We believe that the domestic
economy is set to rebound from a low base in 2H 2024 / 1H 2025, and we continue
to be positive on the globally competitive and uniquely positioned
manufacturers, including HBMs [high bandwidth memory] for AI, health and beauty,
and heavy industries,” Cho added in a Wednesday note.
In Japan, the benchmark Nikkei 225 climbed 0.87%,
while the broader Topix index rose 0.54%.
Mainland China’s CSI 300 index moved up 0.52%,
while Hong Kong’s Hang Seng
Index added 0.72%
Australia’s S&P/ASX 200 increased by
0.86%. The country’s
economy grew 1.3% year-on-year in the first quarter of 2025, lower than the
estimated 1.5% growth among economists polled by Reuters. The latest reading
was unchanged from the previous quarter’s 1.3%
year-on-year growth.
Meanwhile, India’s benchmark Nifty 50 and BSE Sensex
were flat in early
U.S.
futures were little changed after Wall Street rose on a tech rally and
a better-than-expected jobs report showing that the U.S.′ labor market is
holding up despite concerns of risks stemming from tariffs.
Overnight
stateside, the broad-based S&P
500 index added 0.58% to close at 5,970.37, while the Dow Jones Industrial Average gained
214.16 points, or 0.51%, ending at 42,519.64. The Nasdaq Composite climbed
0.81% and settled at 19,398.96.
Asia
markets today June 4 2025
Stock futures are little changed
after S&P 500 posts second day of gains: Live updates
Updated Wed, Jun 4 2025 12:18 AM EDT
U.S. stock futures were little
changed early Wednesday, after the S&P 500 notched a second straight day of
gains.
Dow Jones Industrial Average futures moved
down 41 points, or 0.1%. S&P
500 futures lost 0.1%, and Nasdaq 100 futures fell
0.14%.
In extended trading, CrowdStrike Holdings shares
dropped more than 6%, after the cybersecurity company posted soft
guidance on revenue for the current quarter. Hewlett Packard Enterprise shares
popped 3%, after the information technology company topped analysts’
expectations on the top and bottom lines.
Wall Street is coming off a solid
session Tuesday, posting back-to-back gains. The 30-stock Dow rose more than 200
points, or 0.5%, for its fourth positive day. The S&P 500 and the Nasdaq Composite did even
better, advancing 0.6% and 0.8%, respectively, bolstered by the rise in tech
stocks. Nvidia rose
nearly 3%, surpassing
Microsoft to become the world’s most valuable public company once
more.
The recent comeback rally has
investors increasingly confident stocks have turned a corner on tariffs,
especially after a series of reversals from President Donald Trump convinced
traders the White House is mainly wielding high levies as a negotiating tool.
A federal
court striking down Trump’s tariffs just last week added to hopes the
market has priced in the worst of the tariffs, though they were later reinstated
temporarily by an appeals court.
The increasingly muted response to
trade headlines has more market watchers certain there’s further upside for
stocks, especially with cash that remains on the sidelines, and with policy
developments more favorable to equities expected later this year. This week,
Deutsche Bank’s chief U.S. equity and global strategist Binky Chadha raised
his year-end S&P 500 forecast.
“We have a quiet week, and markets
are rallying,” Tom Lee, head of research at Fundstrat Global Advisors, said
Tuesday on CNBC’s “Closing Bell.”
“I think the risk is now of a substantial leg-up rally from here.”
To be sure, others remain wary the
full impact of tariff uncertainty is yet to be felt, and that upcoming economic
indicators could start to show signs of softening.
Investors will get further insight
on the state of the labor market this week, with the ADP private payrolls
report due out Wednesday, ahead of weekly jobless claims on Thursday and the
big May jobs report Friday. The Federal Reserve’s Beige Book will also be
posted Wednesday afternoon.
Earnings season also continues,
with Dollar Tree reporting
Wednesday morning before the open.
Stock
market today: Live updates
In other news, with the 2025 US harvest season getting underway, the impending collapse of US farming due to the Trump tariff wars. Without Chinese buyers, where will farmers store this year’s harvests? Approx. 10 minutes.
BREAKING:
U.S.’s Farm System COLLAPSE - 88% of U.S. Soybean Exports Just Disappeared
BREAKING: U.S.’s Farm System COLLAPSE - 88% of U.S. Soybean Exports Just Disappeared
Global Inflation/Stagflation/Recession
Watch.
Given
our Magic Money Tree central banksters and our spendthrift politicians,
inflation now needs an entire section of its own.
U.S.
growth forecast cut sharply by OECD as Trump tariffs sour global outlook
Published
Tue, Jun 3 2025 3:00 AM EDT
Economic
growth forecasts for the U.S. and globally were cut further by the Organisation
for Economic Co-operation and Development as President Donald Trump’s tariff
turmoil weighs on expectations.
The
U.S. growth outlook was downwardly revised to just 1.6% this year and 1.5% in
2026. In March, the OECD was still expecting a 2.2% expansion in 2025.
The
fallout from Trump’s tariff policy, elevated economic policy uncertainty, a
slowdown of net immigration and a smaller federal workforce were cited as
reasons for the latest downgrade.
Global
growth, meanwhile, is also expected to be lower than previously forecast, with
the OECD saying that “the slowdown is concentrated in the United States, Canada
and Mexico,” while other economies are projected to see smaller downward
revisions.
“Global
GDP growth is projected to slow from 3.3% in 2024 to 2.9% this year and in 2026
... on the technical assumption that tariff rates as of mid-May are sustained
despite ongoing legal challenges,” the OECD said.
It
had previously forecast global growth of 3.1% this year and 3% in 2026.
“The
global outlook is becoming increasingly challenging,” the report said.
“Substantial increases in barriers to trade, tighter financial conditions,
weaker business and consumer confidence and heightened policy uncertainty will
all have marked adverse effects on growth prospects if they persist.”
More
U.S. growth
forecast cut further by OECD as Trump tariffs sour outlook
America's
biggest bank JPMorgan warns US at risk of a fate more terrifying than a
recession
2
June 2025
JPMorgan
Chase has warned that the stock market's rally could soon come to an end as the
economy is likely to enter a period of stagflation.
Analysts
for the
world's biggest and most powerful bank have warned that stagflation -
when prices rise and economic growth slows at the same time - could hit the
economy this summer.
Economists
consider stagflation, last seen in the US in the 1970s, to
be worse than a recession.
Stocks
have whipsawed following President Trump's 'Liberation Day' tariff
announcements in April, and last month the S&P 500 posted its best results
since 2023.
However,
stagflation would send stocks down, hitting regular Americans' 401(K)s and
investments.
'Post
the recent bounce, we think softer leg is in store next, which could resemble a
bit of a stagflationary episode,' JPMorgan said in a research note on
Monday.
The
ongoing uncertainty
of the US's trade relations with its biggest partners will also
keep stocks in check, the strategists wrote.
The
'current tariffs picture is worse than most thought at the start of the year,'
they added.
Despite
the recent rally the S&P 500 is only up 0.5 percent this year, underperforming
European and Asian benchmarks.
Last
month JPMorgan's CEO Jamie Dimon warned that the
threat of stagflation was probably double that of other analysts predictions, and said
Americans should prepare.
'There's
a chance that (we'll) have stagflation (in the US),' Dimon told
Bloomberg.
He
said that while he was not making a certain prediction, 'we have to be prepared
for something like that.'
'Global
fiscal deficits are inflationary. I think the remilitarization of the world is
inflationary. The restructuring of trade is inflationary,' he said during the
TV interview.
At
the bank's annual investor day earlier in May, Dimon told industry leaders that
the chances of stagflation returning are probably twice that of what others
have projected.
The
billionaire also said that markets were showing an 'extraordinary
amount of complacency' in the face of the economic threats of Trump's
tariffs.
Dimon
said the full effect of Trump's aggressive trade policies has yet to be
felt.
More
America's biggest
bank JPMorgan warns US at risk of a fate more terrifying than a recession
Covid-19
Corner
This section will continue only occasionally when something of interest occurs.
Doctors issue urgent health warning as dangerous new Covid virus from
China triggers US outbreak
3 June 2025
A dangerous new Covid
variant from China is surging in California, health officials
warn.
The California Department
of Public Health warned this week the highly contagious NB.1.8.1 strain has
been detected in the state, making it the sixth US state to be exposed.
The variant has also been
detected in international travelers arriving in Washington state, Virginia, Hawaii, Rhode Island and New York City since March.
Health officials said the
variant was first detected in March and has been on the rise since May 1.
Since April, NB.1.8.1 has
increased from two percent of Covid cases in California to 19 percent,
according to health department data.
Lab tests suggest
NB.1.8.1, which was first detected in January in China, is more infectious than currently circulating strains, which
means it could lead to a spike in infections and hospital admissions.
World Health Organization data also suggests it makes up more than half
the variants currently circulating.
The warning comes as some
physicians in California have called for the return of mask mandates to emulate countries like Hong Kong.
More
Doctors issue urgent health warning as dangerous new Covid virus from
China triggers US outbreak
Technology
Update.
With events happening fast in the
development of solar power and graphene, among other things, I’ve added this
section. Updates as they get reported.
Another day, more EV fires and EVs are
still only a tiny part of the transport sector. Just wait until EVs are the
only transport vehicles allowed. For now though, try not to park near an EV.
Welshpool
factory fire was caused by electric vehicle
2nd
June 2025
CREWS
from five Powys fire stations were called out to a fire in the early hours of
Saturday morning (May 31) which saw an electric vehicle catch fire and spread
to a nearby factory in Welshpool.
Mid and West Wales Fire and Rescue Service (MWWFRS) crews from Welshpool, Montgomery, Llanfair Caereinion, Llanfyllin and Newtown Fire Stations were called to the incident in
Buttington.
MWWFRS said the Powys crews were assisted by Shropshire
Fire and Rescue Service.
“At 1.09am on Saturday, May 31, crews responded to a
fire involving one electric vehicle,” said a MWWFRS spokesperson.
“The fire had spread to a nearby commercial property,
measuring approximately 10 metres by 10 metres.
“Crews
utilised one vehicle fire blanket, four breathing apparatus sets, one main jet,
two hose reel jets and established a water shuttle system to extinguish the
fire.
“The vehicle was severely damaged by fire and heat
damage was caused to the commercial property. Crews left the scene at 3.16am.”
A post on the Oswestry Fire Station Facebook page
confirmed the incident, with footage captured of firefighters dealing with the
incident.
The fire originated from an electric car fire, which
then spread to the side of a neighbouring factory building.
“An electric car fire had spread to the side of a
neighbouring factory,” said the station’s post.
“Shrewsbury's aerial ladder platform also joined the
incident to assist with checking the roof space for hot spots.”
Welshpool factory
fire was caused by electric vehicle | County Times
Crews douse EV
fire in Abbotsford Costco parking lot
Published: June
01, 2025 at 1:35PM EDT
An
electric vehicle exploded and burst into flames in a Costco parking lot in Abbotsford
Saturday afternoon, according to authorities.
First
responders were called to the big-box store on Sumas Way around 1:30 p.m. for
“reports of a vehicle explosion,” the Abbotsford Police Department said in a
social media post, adding “fortunately, no injuries have been reported.”
Firefighters
remained on scene for several hours, according to a statement from the City of
Abbotsford.
“Crews
arrived to a fully engulfed vehicle and were able to put out the fire quickly
through the use of fire blankets and water, minimizing the spread to other
vehicles,” a spokesperson wrote.
“Crews
remained on site yesterday afternoon while the vehicle continued to cool so it
could be transported off site.”
The
cause of the fire is under investigation. The parking lot and gas station were
closed, but have since reopened.
Crews douse EV
fire in Abbotsford Costco parking lot
Next, the
world global debt clock. Nations debts to GDP compared.
World Debt
Clocks (usdebtclock.org)
You
have to stand every day three or four hours of visitors. Nine-tenths of them
want something they ought not to have. If you keep dead-still they will run
down in three or four minutes. If you even cough or smile they will start up
all over again.
Calvin Coolidge
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