Stocks and Precious Metals Charts - Jobs, Jobs, Jobs

 

"The Lord is my light and my salvation –
        whom shall I fear?
The Lord is the refuge of my life –
        of whom shall I be afraid?" 

Psalm 27

 

“Imaginary evil is romantic and varied; real evil is gloomy, monotonous, barren, boring.  Imaginary good is boring; real good is always new, marvelous, intoxicating.  Everything beautiful has a mark of eternity.” 

Simone Weil

 

The markets were shocked this morning by a much better than expected ADP private payrolls jobs added report

The implication was that the Non-Farm Payrolls number tomorrow would also be much better, and thereby put pressure on the Fed to taper from its easy money policy much soooner than expected.

There were losses across the board in equities.

But, to the rescue, President Biden suggested that he would shift from his 28% corporate tax rate to a 15% floor, or a minimum tax.   He is attempting to placate the GOP.

But gold and silver would only recover a bit of their losses, still showing red into the close.

I had noticed that JP Morgan had dumped 7,000 June gold contracts from their house account earlier this week.   

One can only wonder.

The Dollar retained much of its gain.

Non-Farm Payrolls tomorrow. 

Let's see where its latest estimation of the jobs meme might be.  It is hard to predict all things considered.   

'Adjustments' abound.

Keep an eye out for the average hourly wage, remembering that this is hardly an average recovery.

Have a pleasant evening.

Stocks and Precious Metals Charts - Markets Holding Their Breath Ahead of the Payrolls Report

 

“Son of man, these people have set up idols in their hearts.   They hold on tightly to the things that will make them fall into sin.  Should I allow them to inquire from me at all?" 

Ezekiel 14:3 

 

"And they cried to the mountains and the rocks, 'Fall on us, and hide us from the face of the one who sits on the throne, and from the judgement of the Lamb.'" 

Revelation 6:16 

 

Stocks were moving sideways today, with small caps show some outperformance.

Gold and silver moved a bit higher, but still no clean breakout.

The Dollar rally failed in the afternoon.

The markets are keenly interested in the Non-Farm Payrolls report on Friday.

The market is riding a crest of easy money from the Fed.

They are watching closely for any signs that the party may be over.

And the Fed assures them, again and again.

Have a pleasant evening.

Stocks and Precious Metals Charts - Back to Work - Non-Farm Payrolls on Friday

 

Stocks rallied early on, and then gave it up and finished slightly lower into the close.

Gold and silver also rallied and then lost ground into the afternoon.

The Dollar traded in a sideways chop.

There will be a Non-Farm Payrolls report on Friday.

Have a pleasant evening.

Memorial Day

"Four score and seven years ago our fathers brought forth on this continent a new nation, conceived in Liberty, and dedicated to the proposition that all men are created equal.

Now we are engaged in a great civil war, testing whether that nation, or any nation so conceived and so dedicated, can long endure. We are met on a great battle-field of that war.

We have come to dedicate a portion of that field, as a final resting place for those who here gave their lives that that nation might live. It is altogether fitting and proper that we should do this.

But in a larger sense, we cannot dedicate, we cannot consecrate, we cannot hallow this ground. The brave men, living and dead who struggled here have consecrated it far above our poor power to add or detract. The world will little note nor long remember what we say here, but it can never forget what they did here.

It is for us the living rather to be dedicated here to the unfinished work which they who fought here have thus far so nobly advanced. It is rather for us to be here dedicated to the great task remaining before us — that from these honored dead we take increased devotion to that cause for which they gave the last full measure of devotion — that we here highly resolve that these dead shall not have died in vain, that this nation under God shall have a new birth of freedom, and that government of the people, by the people, for the people shall not perish from the earth.”

Abraham Lincoln, Gettysburg Address, November 19, 1863

 

"To every thing there is a season,
and a time to every purpose under the heaven:
a time to be born, and a time to die;
a time to plant, and a time to pluck up that which is planted;
a time to kill, and a time to heal;
a time to break down, and a time to build up;
a time to weep, and a time to laugh;
a time to mourn, and a time to dance;
a time to cast away stones,
and a time to gather stones together;
a time to embrace, and a time to refrain from embracing;
a time to get, and a time to lose;
a time to keep, and a time to cast away;
a time to rend, and a time to sew;
a time to keep silence, and a time to speak;
a time to love, and a time to hate;
a time of war, and a time of peace."