Baltic
Dry Index. 2991 +27 Brent
Crude 103.54
Spot
Gold 4509 Spot Silver 76.20
U
S 2 Year Yield 4.13 +0.05
US
Federal Debt. 39.277 trillion
US
GDP 32.144 trillion
It is no coincidence that the century of total war coincided
with the century of central banking.
Ron Paul
Iran war, deal, or no deal this weekend? The Wall
Street stock casinos went all-in on a deal on Friday.
Sworn in on Friday, new Fed Chairman Warsh is
about put his version of fiat money policy into effect from here. Trump’s rate
cutting patsy or a Volker mark two? By the end of the year Wall Street and
President Trump will know.
By Monday, we will also know if the stock
casinos bet right on an US-Iran deal this weekend. Also on Monday in the LIR update, that SpaceX IPO. To the moon, Alice (in Wonderland?)
Dow
adds nearly 300 points Friday for new record close; S&P 500 notches eighth
winning week: Live updates
Updated
Fri, May 22 2026 4:25 PM EDT
Stocks
rose Friday as Treasury yields eased, resulting in a winning week for Wall
Street despite heightened volatility.
The Dow Jones Industrial Average gained
294.04 points, or 0.58%, to end at 50,579.70. The 30-stock index hit an
intraday all-time high and posted another record close. The S&P 500 rose 0.37% to
settle at 7,473.47. The Nasdaq
Composite climbed 0.19%, ending at 26,343.97.
Although
all three indexes closed in the green on Friday, they finished off their highs
reached earlier in the session.
“It’s
the everything market,” Steve Sosnick, chief strategist at Interactive Brokers,
told CNBC. “The market [is] telling you today they’re much more concerned that
they’re going to miss some sort of peace in the Middle East than they are about
the risks of going home long over the weekend.”
It
remains unclear whether the U.S. and Iran are inching toward a deal to end
their war. On Friday, a Qatari team flew into Tehran in coordination with
the U.S. to help secure an agreement to end the conflict, Reuters reported,
citing a source familiar with the matter.
Oil
settled modestly higher Friday, but was off the peaks reached earlier in the
week, as traders hoped a resolution to the Iran war could be reached soon.
International Brent crude
futures added 0.9% to close at $103.54 per barrel, while West Texas Intermediate crude inched
up about 0.3% to settle at $96.60.
The
benchmark 10-year Treasury
note yield shed nearly 3 basis points to around 4.56% as of Friday
afternoon. The 30-year bond yield also lost more than 4 basis points to trade
around 5.06%.
Bond
market volatility had weighed on stocks earlier in the week. The 30-year hit
its highest level since 2007 before easing, while the 10-year touched its
highest level in over a year, as traders feared a prolonged U.S.-Iran war would
keep oil prices elevated and putting upward pressure on inflation.
Separately, Qualcomm shares ripped almost
12% on Friday, posting a third straight winning session. The stock gained 18.2%
on the week.
The
S&P 500 advanced 0.9% over the week, marking its eighth straight winning
week and its longest weekly win streak since late 2023. The Dow rose 2.1% and
posted its third positive week in four. The Nasdaq added 0.5% and notched its
seventh weekly advance in the past eight weeks.
Stock
market news for May 22, 2026
US
Retailers Warn Iran War Inflation Will Spread
May
22, 2026 at 11:16 PM GMT+1
Americans
have been struggling for months with high gas prices and persistent inflation,
sending consumer sentiment to a record low. Now retailers like Walmart and
Lowes are
getting louder about their warnings that spiking fuel costs driven by
the US-Israel war with Iran will soon be reflected in the prices of products on
their shelves.
When
that happens, it’s only going to make US affordability problems that much
worse. “We are concerned that the consumers have less ability to spend” even
now, said Joe Feldman, an analyst at Telsey Advisory Group. Looking ahead,
“the lower-income consumer is going to become even more challenged.”
At
Walmart, Chief Financial Officer John David Rainey said the company
has seen some habits change: consumers bought
fewer gallons per visit at Walmart pumps in the first quarter, with
the average number falling below 10 for the first time since 2022. “That’s an
indication of stress,” he said.
Higher
fuel costs haven’t yet pushed up prices of most goods in the US, according to
the Trump administration. Affluent Americans have been propping up overall
consumer spending, a primary engine for the economy; retail sales rose
for a third-straight month in April, according to the US Department of
Commerce.
But
inflation concerns are still hitting consumer sentiment. The University of
Michigan’s final May sentiment index decreased 5 points to 44.8 from April,
according to the survey released Friday. That’s
the latest in a series of record lows and weaker than all projections
in a Bloomberg survey of economists.
Chains
Warn of War Inflation’s Spread: Evening Briefing Americas - Bloomberg
Oil
prices post weekly loss as U.S. and Iran signal progress toward a deal
Published
Thu, May 21 2026 8:31 PM EDT Updated Fri, May 22 2026 3:04 PM EDT
Oil
prices are on pace to post a loss this week as the U.S. and Iran signal
progress in talks to end the war.
But
the warring sides remain at loggerheads over Tehran’s enriched uranium stockpile and tolls on the strategically
vital Strait of Hormuz.
International
benchmark Brent crude futures
added 96 cents to close at $103.54 per barrel, while U.S. West Texas Intermediate futures advanced
25 cents to settle at $96.60.
Brent
fell more than 5% this week while U.S. crude oil lost more than 8%. Prices have
tumbled after President Donald Trump said Monday that he called off imminent
strikes on Iran to allow for more negotiations.
U.S.
Secretary of State Marco Rubio on Thursday said there were “good signs” that an
agreement to end the conflict is in sight, but warned any such deal would be
“unfeasible” if Iran pursues measures to permanently control shipping through
the Strait of Hormuz.
“Markets
are still searching for signs of progress in a potential deal between the US
and Iran. While there are signs of optimism, uncertainty reigns,” strategists
at ING said in a research note published Friday.
“This
is not the first time a deal seemed close, only for negotiations to break down.
So, there’s a large segment of the market that will be more sceptical about the
positive signals we are seeing,” they added.
Worries
over oil supplies continue to linger with the International Energy Agency
warning that as travel demand grows during the summer season, oil markets could
enter a “red
zone” soon as global stocks deplete.
The
most important solution to the energy shock caused by the Iran war would be the
Strait of Hormuz’s full and unconditional reopening, IEA Executive Director
Fatih Birol said, adding that developing Asian and African countries will feel
the “biggest pain of this crisis.”
Typically,
roughly 20% of the world’s oil and liquefied natural gas passes through the
Strait of Hormuz, but shipping traffic has virtually halted since U.S. and
Israeli-led strikes against Iran started
on Feb. 28.
“Energy
executives warned that full normalization of Middle East oil supply may not
occur until 2027 due to the scale of disruptions caused by the conflict,”
according to a recent note by MUFG.
Oil
prices post weekly loss as U.S. and Iran signal deal progress
In
other news.
Slight
improvement in consumer confidence amid ‘clear challenges ahead’
Fri,
22 May 2026 at 12:01 am BST
A
fall in inflation led to a slight improvement in consumer confidence this month
amid warnings of “clear challenges ahead”.
GfK’s
long-running Consumer Confidence Index rose by two points in May, but is still
four points lower than this time last year at minus 23.
Despite
confidence in the general economy over the coming year rising five points, it
remains five points lower than last May at minus 38, while confidence in
personal finances over the next 12 months is up two points to minus two, four
points down on a year ago.
The
major purchase index, an indicator of confidence in buying big ticket items,
dropped two points to minus 20, four points lower than May last year and its
lowest level since last January.
Key
income groups recorded “more worrying” major purchase scores, with confidence
among those earning between £14,500 and £24,999 posting a 19-point drop to
minus 33.
Similarly,
there was a steep fall within the average household income group earning
between £35,000 and £49,999, with a 10-point drop to minus 27.
Neil
Bellamy, consumer insights director at GfK, said: “Consumers appear to be in a
more generous mood in May, with a two-point increase in the headline score and
improving perceptions of both personal finances and the wider economy.
“Clearly,
for specific groups of consumers, the impact of cost-of-living pressures are
acute.
“Moreover,
our savings measure – down by the unusually high amount of 10 points – suggests
people are diverting funds from savings accounts to pay for day-to-day
expenses.
“Inflation
may have fallen in April, but with price pressures expected to rise again and
continued uncertainty around interest rates, it’s unlikely May marks the
beginning of a sustained improvement.”
Slight improvement
in consumer confidence amid ‘clear challenges ahead’ - Yahoo News UK
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.
Japan core inflation softens to over four year low,
weakening case for BOJ rate hike
Published Thu, May 21 2026 7:38 PM EDT
Japan’s core inflation eased more than expected in
April to its lowest level since March 2022, potentially weakening the case for
an early rate hike by the Bank of Japan.
Core inflation — which strips out prices of fresh
food — came in at 1.4%, lower than the 1.7% expected by economists polled by
Reuters and below the 1.8% reading in March.
Headline inflation was at 1.4%, down from March’s
1.5% and the fourth straight month below the central bank’s 2% target.
The so-called “core-core” inflation rate, which is
watched by the Bank of Japan and strips out food and energy prices, fell to
1.9% from 2.4%.
Energy prices fell 3.9% in April compared with a
5.7% decline in March, amid the Iran war.
Japan’s Nikkei 225 opened up 0.96% following the data release, leading major Asian
indexes, while the yen weakened marginally to 159.03 against the
dollar.
The inflation figure was “a little bit of a
surprise, but not too much of a concern,” said Andrew McCagg, customer
portfolio manager at Nomura Asset Management on CNBC’s “Squawk Box Asia.”
He explained that headline inflation was expected
to dip below 2% due to government fuel subsidies, but the lower-than-expected
figure was also due to government subsidies for school tuition.
The Iran war, he added, would push inflation back
up in the coming months.
“Unlike in other markets, when we talk about
inflationary concerns in Japan, it’s still more of a concern that we fall back
into deflation rather than inflation getting out of hand,” McCagg added.
The Bank of Japan sharply raised its core inflation outlook to 2.8% from 1.9%
at its April meeting, citing higher crude oil prices linked to the conflict in
the Middle East and businesses passing on higher costs to consumers.
The data also follows reports that Prime Minister
Sanae Takaichi signaled
she was open to a supplementary budget to address rising energy costs.
According to Japanese public broadcaster NHK,
opposition lawmakers had proposed a 3 trillion yen ($18.8 billion) package,
including an extension of petrol subsidies and relief for electricity bills.
Japan is currently struggling with a weak yen,
having reportedly spent 10 trillion yen on
intervening in the yen at the end of April and the start of May. A weak currency has increased import costs and eroded
consumers’ purchasing power.
Still, a BOJ rate hike may be on the horizon, as
the country’s economy seems to be holding up, posting a better-than-expected
2.1% annualized expansion in the first quarter of 2026.
The growth was partly powered by strong exports, which could give the BOJ confidence to hike
rates, according to DBS analysts in a Thursday note.
Japan core inflation softens to over four year low, weakening case for
BOJ rate hike
Technology
Update.
With events happening
fast in the development of solar power and graphene, I’ve added this section.
14-story tall bobbing cylinder could generate electricity from
strong ocean waves
May 19, 2026
It isn't easy harnessing the power of waves in the sea to generate
electricity, but a Spanish engineering firm is giving it the ol' college try
with a giant floating buoy.
Out on the Biscay
Marine Energy Platform (BiMEP) off the coast of Bizkaia
in Northern Spain, Bilbao-based
IDOM is testing a low power wave energy converter (WEC) that's
been in the works for several years now.
It's called MARMOK-A-5, and it's basically a point absorber
Oscillating Water Column (OWC). It resembles a buoy with a cylindrical column
of water inside, and the entire thing stands an enormous 140 ft (42 m) tall,
with about 20 ft (5 m) sticking out above the surface. It's 20 ft (5 m) in
diameter, and is currently anchored to the sea bed nearly 300 ft (90 m) deep.
Previous versions of this concept have been deployed
over the past few years since 2016 to survive entire
winters. The latest iteration features intelligent control systems,
controllable blades, and onboard batteries, and is meant to demonstrate its
electricity generation performance in real sea conditions.
Waves around the MARMOK-A-5 cause the water in this inner column
to move relative to the buoy. This movement compresses and expands an air
chamber at the top of the buoy, like a piston. The resulting reciprocating
airflow spins a turbine, generating electricity that's transmitted to a grid on
the shore via a subsea cable.
This version can only produce a maximum of about 30 KW of
electricity, which would be enough to supply about 15-20 average US homes at
its peak. Here it is at a previous deployment last year:
"Achieving a safe installation and grid connection at BiMEP
is a key step towards bringing wave energy closer to commercial reality,” said
IDOM project manager Borja de Miguel. This is part of EuropeWave, an EU-wide
R&D program committing some €20 million (US$23 million) toward developing
wave energy technologies.
Now that the MARMOK-A-5 has been successfully installed and
connected to the grid as of this week, the next task is kicking it into full
operational service. Data gathered from this trial will also help inform
subsequent stages of fine-tuning the tech before it can be commercialized and
rolled out widely.
This is far from the only WEC out on the high seas, of course. In
2024, we saw the massive
826-ton OE-25 off the coast of Oahu in Hawaii from Ocean Energy. That same
year, the University of Western Australia began testing a novel WEC design
in King George Sound. And back in February of this year, Denmark's Wavepiston signed
an MoU to launch a 50-MW WEC
installation to serve Barbados.
There's plenty of wave energy in the ocean, but creating scalable
systems that can use this energy to generate electricity has proven difficult.
Building them to withstand the elements out on the water, maintaining them,
running them cost-effectively, and minimizing their impact on marine ecosystems
all pose major challenges. Here's hoping this giant buoy gets it right.
Huge Spanish buoy
harnesses sea wave energy for power
Next, the
world global debt clock. Nations debts to GDP compared.
World Debt Clocks
(usdebtclock.org)
Exponent
Calculator
Enter
values into any two of the input fields to solve for the third.
This
weekend’ s music diversion. Another long-forgotten maestro. Approx.15 minutes.
Christian
Friedrich Witt (1665-1717) - Sonates a piu stromenti (c.1695)
Christian
Friedrich Witt (1665-1717) - Sonates a piu stromenti (c.1695) - YouTube
Next,
military satellites demystified. Approx. 14 minutes.
Every
Type of Military Satellite Explained
Every Type of Military Satellite Explained
Finally, refugees reclaiming the desert. Approx. 15 minutes.
How Millions of Refugees Dug
Water-Retention Pits to Turn 100,000 Hectares of Desert into Farmland
The most sinister of all taxes is the inflation tax and it is the most regressive. It hits the poor and the middle class. When you destroy a currency by creating money out of thin air to pay the bills, the value of the dollar goes down, and people get hit with a higher cost of living. It's the middle class that's being wiped out. It is most evil of all taxes.
Ron Paul
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