World #oil markets may be under supplied by about 2 million barrels a day in the fourth quarter as a result of cutbacks announced by Saudi Arabia and its OPEC+ partners https://tinyurl.com/2p93c76c

#stocks get a lift this morning as Producer Price Index drops. March PPI shows significant downside surprise at -0.5% m/m vs. 0% est, and 2.7% y/y vs. 3% est. Falling energy prices helped, and services was weakest since Mar 2020. #CoSoFinance #economy

Biden administration considers crackdown on AI tools such as ChatGPT https://www.marketwatch.com/story/biden-administration-considers-crack-down-on-ai-tools-such-as-chatgpt-fdd2a77

Here's a chart from the Resource Trader issue going out this morning. The $XLE seems to be forming a bull flag. On a successful resolution of this pattern, the target is $99.70 #CoSoFinance

You're probably missing out on recent gains from non-U.S. stocks. Here's why that needs to change https://www.marketwatch.com/story/youre-probably-missing-out-on-recent-gains-from-non-u-s-stocks-heres-why-that-needs-to-change-ae664c18

Sure looks like a bull flag forming in energy stocks ($XLE). And as the saying goes, "flags fly at half mast." #bullish #CoSoFinance

The Biden economic track record:

GDP growth over 3%, 3 times what it was under Trump

6 times as many Biden jobs as last 3 GOP Presidents combined

lowest poverty/uninsured rates ever

very elevated wage gains/new business starts

2 job openings per unemployed person, a record

the deficit went up every year under Trump and has come down every year under Biden

domestic oil production on track to set records in 2023
https://simonwdc.substack.com/p/april-jobs-report-the-us-economy

Not only is labor in China no longer cheap, compared to competitors, it's downright expensive. #CoSoFinance https://youtu.be/J4a5RPsDMRM

Operating profits are expected to have shrunk by 6.8% last quarter, according to an average of Wall Street forecasts compiled by FactSet. Next quarter is expected to see another decline. #CoSoFinance

One source of stock weakness in Q4 is that share buybacks dried up, down by more than 20% compared with 2021 during the fourth quarter. And activity has remained weak. Source: Goldman Sachs/Marketwatch #CoSoFinance

Good Friday's non-farm payrolls figures suggested the jobs market remains solid, with unemployment back at more than 50-year lows. Average job gains remain far above where they were before the pandemic. #economy #CoSoFinance

March’s gain in nonfarm payrolls means U.S. economy has now added slightly more than 1 million jobs in first quarter of 2023 #economy #CoSoFinance

The U.S. dollar index is bouncing this morning. A weekly weekly chart shows the bounce comes from the bottom of the greenback's range. This bounce should push gold & silver lower (temporarily) #CoSoFinance

#Gold may be pulling back this morning, but weekly gold still looks very strong. #CoSoFinance

China’s yuan replaces the US dollar as the most traded currency in Russia, a year after the invasion of Ukraine led to a slew of Western sanctions against Moscow #CoSoFinance https://www.bloomberg.com/news/articles/2023-04-03/china-s-yuan-replaces-dollar-as-most-traded-currency-in-russia?utm_source=website&utm_medium=share&utm_campaign=twitter

Energy Secretary Jennifer Granholm last month said it would be difficult for the U.S. to take advantage of low oil prices to replenish the Strategic Petroleum Reserve because of maintenance at two of the four sites. That reportedly trigged the sudden Saudi/OPEC+ production cut. #CoSoFinance https://www.marketwatch.com/story/trigger-for-saudi-oil-production-move-was-comment-that-u-s-would-not-refill-spr-this-year-report-says-8fe801ed

@geekygoodies We played "Beyond the Sun" last night. It's a good game, but lacks a catch-up mechanism. https://gamersguildaz.com/products/beyond-the-sun

Personal savings rate continues to move higher from recent low and increased to 4.6% in February from 4.4% in January #CoSoFinance