Weekly #silver chart shows it underperformed #gold last week. That's worrisome; silver was leading gold. There may be consolidation in the future. If so, look to the breakout line/former overhead resistance as support. Weekly momentum is still bullish, so not especially fretful #CoSoFinance

Hoody-hoo! Weekly chart shows breakout in #gold, and on higher volume. Momentum is bullish and getting stronger. Glad to be long. #CoSoFinance

I expect to West Texas Intermediate to range 'tween $70 and $80 until something changes. It's in a downtrend, and Friday's price action didn't do it any favors. The Force Index, a momentum indicator I favor, is also short-term bearish. Bullish China news could change this picture #CoSoFinance

That sure looks like a bearish outside reversal on the U.S. dollar Index. Tell me if I've got it wrong. That's bullish for gold, bullish for most commodities, because they are priced in dollars. #CoSoFinance

More on jobs. Thanks, Joe Biden. #CoSoFinance

Liz Young of SoFi reports: Massive drop-off in ISM Services PMI for Dec, coming in at 49.6 vs 55.0 est. First contractionary print since May 2020 (50=neutral), with slowdowns in nearly every underlying component. This is what could change jobs data in coming mos, as services have been holding it up. #CoSoFinance

Jared Dillan at @dailydirtnap has an excellent article written by one of his subscribers on the failure to launch of #cannabis stocks. I suggest you go read the whole thing. Here's an excerpt. #CoSoFinance

Are you sick of jobs news? I have one more for you. Nominal average hourly earnings growth ticked down to 0.3 percent in December, following growth of 0.4 percent in November. This is why Wall Street is rallying. The white shoe crowd believes slowing wage growth takes pressure off the Federal Reserve to do more rate hikes. #CoSoFinance

Ah, Bloomberg just explained why the market is rallying on this strong jobs news. Wage growth was soft. Wall Street always cheers when the poors get the short end of the stick. #CoSoFinance

Here's an employment chart I gleefully pickpocketed from Steve Rattner. Covid hammered the jobs market. But what a recovery! It took just 19 months to match total Feb. 2020 employment. When you see your Republican friends today, show them this chart and say, "thanks, Joe Biden!". #CoSoFinance

2022 Was 2nd Strongest Year for Jobs Growth (after 2021) since 1946
I guess the market was expecting even more "hawkish" news after the jobless claims yesterday. In any case, markets are up. Gold is up. Dollar is down. Wall Street, Wall Street, it's a wonderful town.
The U.S. added 223k jobs in December, a slight decrease from November’s growth but still higher than expected.
So, 2022 saw an avg. of 377k jobs added per month, the 2nd strongest year (after 2021) since 1946.#CoSoFinance

The weekly U.S. jobless claims fell to lowest level since September. This sent the U.S. market futures skidding lower.
Around 204,000 people applied for first-time unemployment benefits last week - down from the previous week's total of 225,000, less than expectations also of 225K, and below the pre-pandemic weekly average of 218,000. #CoSoFinance https://www.kitco.com/news/2023-01-05/U-S-weekly-jobless-claims-drop-to-204-000.html

The U.S. #TradeDeficit in November 2022 plungesd 21% to $61.5 billion. #Exports down 2.0% to $251.9 billion. #Imports down 6.4% to $313.4 billion (seasonally adjusted). Americans are tightening their belts and buying less made-in-China junk. November's trade deficit was the lowest since September 2020 ($59.1billion) #CoSoFinance https://t.co/ELorSSWR1y

2 snapshots of where U.S. dividend paying stocks are now. 2022-Q4 is the most negative for dividend-paying firms since the aftermath of the Coronavirus Recession. Energy, real estate and finance are taking the most hits. #CoSoFinance https://seekingalpha.com/article/4568004-dividends-december-2022-2022-q4

Should be bullish news for copper and other base metals.
China's southern manufacturing hub of Guangzhou plans 1,722 projects in 2023 worth more than 6.5 trillion yuan ($945 billion), state media CCTV reported on Thursday, after the city was hit by stringent COVID-19 curbs in late 2022. #CoSoFinance https://www.nasdaq.com/articles/chinas-southern-manufacturing-hub-guangzhou-plans-projects-worth-$945-bln

Even if the U.S. avoids a recession in 2023, American consumers and investors could face a grinding slowdown that likely won’t let up until 2024, according to Moody’s Analytics chief economist Mark Zandi, who this kind of protracted downturn a “slowcession”. My question: If the consensus anticipates a recession, doesn't that raise the odds we'll avoid one? #CoSoFinance https://www.marketwatch.com/story/forget-recession-the-u-s-is-heading-for-a-slowcession-that-could-last-all-year-moodys-warns-11672784240

As of November, there were 1.7 openings per unemployed worker.

Between the '01 Recession & Great Recession, there were 0.5 openings per unemployed worker on avg.

As of November '22, the industries with the highest vacancy rates were Accomodation & Food Services (8.9%) and Health Care (8.5%).

The industries with the lowest vacancy rates: Federal Gov't (2.6%) and Gov't Education (3.1%).
Hat-tip Steve Rattner #CoSoFinance

U.S. auto sales to fall in 2022, GM set to reclaim top spot from Toyota #CoSoFinance https://www.fidelity.com/news/article/top-news/202301040612RTRSNEWSCOMBINED_KBN2TJ0J8-OUSBS_1

Hey, Gov. Greg Abbott? This is how you think Jesus rolls, right?

We made money in the oil markets in 2022, but it wasn't a joyride. #CoSoFinance