Another sign of higher #gasoline prices to come: US top refiner Valero #VLO says that global petroleum demand will continue to outpace global refinery additions #CoSoFinance https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/012722-valero-optimistic-on-2022-refining-margins-as-product-demand-continues-to-recover

U.S. coal consumption hovering near 6-decade lows. #CoSoFinance #CoSoEnvironment

@LizAnnSonders of Charles Schwab reports that weakening U.S. dollar and associated easing of financial conditions have helped int’l equity markets outperform those in U.S., with S&P Developed Ex-U.S. BMI outperforming its U.S. counterpart by 15% since dollar peaked in September 2022 #CoSoFinance

Here is a table of Gross Domestic Product (GDP) components. If you didn't see my post earlier, December GDP surprised to the upside, again, coming at 2.9%, above the 2.6% estimate. That is down from 3.2% GDP growth in the third quarter, but still a bullish surprise. December durable goods orders popped higher, +5.6% m/m vs. +2.5% est. & -1.7% prior (rev up from -2.1%) … however, ex-transportation orders -0.1% vs. -0.2% est. & +0.1% prior #CoSoFinance

You can expect #gasoline prices to higher in the next couple months. There are 10+ refineries with a total of ~10% of US refining capacity that will be undergoing some level of maintenance lasting between 2 weeks and 2.5 months starting in mid-February. we need more refining capacity... yesterday #CoSoFinance #CoSoEconomics

U.S. GDP growth surprises to the upside for a second quarter in a row. Economists warn not to expect an upside surprise next time. I guess we'll see. @LizYoungStrat explains that Q4 GDP grew 2.9% q/q, above 2.6% est. One important point is that residential investment fell by 26.7%, offset by big growth in inventories. Yes, we are in a housing recession. The rest of the economy keeps chugging along, partly due to stimulus payments. #CoSoFinance #CoSoEconomics https://t.co/AjAsuV0uwk

From Patrick De Haan at @GasBuddyGuy: National average up 2 more cents to $3.479/gal this morning, now 42 cents higher than a month ago as retailers pass along substantial increases in wholesale #gasprices. We could hit $3.50/gal soon but may temporarily slow after that. #CoSoFinance #CoSoEconomics

Reed Galen of the Lincoln Project has a great interview with #CNBC's Ron Insana on economics, the debt ceiling, immigration and more. I don't agree with all of his points, but it's well worth listening to. Good to hear a sensible, in-depth talk on these subjects. #CoSoFinance #CoSoEconomics #CoSoPolitics https://podcasts.apple.com/us/podcast/the-agents-of-chaos-with-ron-insana/id1551582052

Looks maybe 60-40 on the bullish side. It's constructive that the S&P 500 #SPX closed above the downtrend, but it needs to follow through on higher volume. Otherwise, the bears will get their turn again.

The PBOC bought 30 tons of gold in December and 32 tons in November, in its first purchases in over three years. This represents a 3.1 % increase in its gold holdings during those two months. #CoSoFinance https://t.co/A00h77zU7v

Another good day for our portfolios. Tech may be deflating -- and you are welcome to it -- but materials are doing very well indeed #gold #oil #silver #copper. #nickel and #iron are picking up, too. #Lithium is flat ... for now.

Americans’ average income has beaten inflation for the past six months, driven by the plummeting cost of gas, along with drops in furniture, cars and other goods. #CoSoFinance https://www.politico.com/news/2023/01/25/inflation-wage-gains-eclipse-price-spikes-00079284

A good explanation for everyone on how "classified" documents end up all over the place, and why we shouldn't wring our hands when they are handed back when discovered. #CoSoPolitics https://jefftiedrich.substack.com/p/how-the-fuck-are-classified-documents

That burn is going to sting.