-
Some key markets that stand out to me as the week comes to a close is US stock indexes (mostly lower) and Energies (mostly higher).
-
Now we'll see if the US president gets frustrated over the weekend and hits the nuclear launch button.
-
The Grains sector closed lower, though futures were telling an interesting story heading into the weekend.
Afternoon Summary: With closing bells ringing out across the market landscape, we are reminded once again of the combined effect of the Goldilocks Principle[i] and the Wilhelmi Element[ii] telling us to pay attention to weekly closes. And who knows, maybe this is the last time we get to talk about weekly closes given what the US president said early Friday[iii], meaning there’s a good chance the world comes to an end over the next couple days[iv]. (And if it does, well, it sounds like there will be a new White House press secretary telling us about it.[v]) What I find interesting is given the chaos that has become the hallmark of the United States (Make America Chaotic, or MAC? Perchance the root of the president’s fondness for Big Macs?) gold (GCZ26) was still headed toward a lower weekly close at this writing. On the other hand, all of the wheeling and dealing this past week, including buying diesel from Vlad the Invader, has the spot-month diesel fuel contract up 13.3 cents (2.85%) while WTI crude oil is up $7.40 (8.15%). In other news, both the S&P 500 and Nasdaq stock indexes seem headed for lower weekly closes, though we still have the NBA Rule[vi] to contend with Friday afternoon.
