The stock market

The stock market will close next month to honor Jimmy Carter​

William Gavin
Mon, December 30, 2024 at 11:08 AM EST


The stock market will close next month to honor Former President Jimmy Carter, who died Sunday at his home in Plains, Georgia, at the age of 100.

Carter, the 39th and longest-living U.S. president, was honored with a moment of silence earlier on Monday at the New York Stock Exchange (ICE) and the Nasdaq (NDAQ). When he is laid to rest in January, Wall Street will take a break.

On Sunday, President Joe Biden ordered that the flag of the U.S. be flown at half-staff at all government and public buildings, as well as foreign embassies, for the next 30 days. He also named January 9 a national day of mourning and called on the American people to pay homage to the former president’s memory.

“President Carter was a man of character, courage, and compassion, whose lifetime of service defined him as one of the most influential statesmen in our history,” Biden said in a statement. “He embodied the very best of America: A humble servant of God and the people.”

All Nasdaq U.S. equities and options markets will be closed to observe the day of mourning and celebrateCarter’s “life and honor his legacy,” Nasdaq President Tal Cohen said in a statement.

The NYSE said Monday that the New York Stock Exchange, NYSE American Equities, NYSE American Options, NYSE Arca Equities, NYSE Arca Options, NYSE Chicago, and NYSE National will alsoclose to observe the day of mourning.

“During his noteworthy post-presidential life, President Carter left an enduring legacy of humanitarianism,” NYSE Group President Lynn Martin said in a statement. “The NYSE will respectfully honor President Carter’s lifetime of service to our nation by closing our markets on the National Day of Mourning.”
 
JPM SPX Initial Collar printed for 3/31/25 expiry

6165 short call
5565 long put
4700 short put

1735672103195.png
 
This is for their Asset Management Fund.
The collar protects them on the downside with the put spread and is funded in large part by the short call. The short call also has acted as a cap on the upside during prior quarters.
 
FUTURES ARE UP AGAIN......Will it hold or fizzle as has been the NORM lately....January is a barometer for the rest of the year with exceptions.

The odds are high these markets are going to see some very rough times ahead...

With the 10 year note offering risk free 5% annually, who would risk their money today for much more than that, especially with an already overextended market???

The Buffett Indicator which was 197% just late last week is now at 208% and getting worse, this is "playing with matches," as Buffet himself said.
 
Nice short squeeze today. Got a few handles on NQ1 and ES1. Reclaiming 5920 on ES overnight was key. See what happens Sunday night into Monday pre-market with London doing most of the bidding.
 

Fed's Cook: Further rate cuts can come cautiously​

By Howard Schneider
January 6, 20259:20 AM ESTUpdated 37 min ago

Jan 6 (Reuters) - The U.S. Federal Reserve can be cautious with any further interest rate cuts given a solid economy and inflation proving stickier than previously expected, Fed Governor Lisa Cook said on Monday.
Since the Fed began cutting its benchmark policy rate in September, "the labor market has been somewhat more resilient, while inflation has been stickier than I assumed at that time," Cook said in remarks for delivery at the University of Michigan Law School. "Thus, I think we can afford to proceed more cautiously with further cuts."

The Fed reduced the policy rate by a full percentage point over its last three meetings of 2024, but is expected to keep the policy rate in the current range of 4.25% to 4.5% at the next meeting on Jan. 28-29.
"Over time, I still think it will likely be appropriate to move the policy rate toward a more neutral stance," Cook said. However the cuts made to date "have notably reduced the restrictiveness of monetary policy. All along, I envisioned moving more quickly in the early stages of our easing campaign and then easing more gradually as the policy rate came closer to neutral."

Cook said she felt the U.S. started the year "in good shape," with the unemployment rate still low by historic standards and inflation "gradually — if unevenly — returning over time to our goal of 2% in a sustainable manner."
Key measures of inflation showed little progress in the last half of 2024, and remain around a half percentage point or more above the Fed's target.
Jobs numbers for December will be released on Friday, providing the latest insight on employment and wage growth.

Cook devoted much of her speech to her views on financial stability, and said she regarded the financial system as "sound and resilient."
But she noted some areas that warrant close attention, including the growth in private lending, where the sometimes not-well-understood connections among lenders could be a source of shocks to the overall financial system in a crisis.
She added that the growth of artificial intelligence tools could be a source of innovation in the financial system, but also a source of risk if models share biases or make similar mistakes.
 
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