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Dow climbs 600 points as U.S. stocks on track to snap three weeks of losses

U.S. stocks surged to their highest levels of the day Friday morning following a weaker-than-expected reading on inflation expectations. The rise in stocks left all three U.S. equity benchmarks on track to cement their first gain in three weeks.

On Thursday, the Dow industrials DJIA, 1.92% climbed 194.23 points, or 0.6%, to end near session highs at 30,677.36, after moving between gains and losses. The S&P 500  SPX, 2.17% rose 1% to end at 3,795.73. The Nasdaq Composite COMP, 2.29%  increased 179.11 points, or 1.6%, closing at 11,232.19.

What’s driving the markets?

Behind part of the renewed vigor for stocks has been a moderation in inflation expectations that has occurred this week. On Friday, the University of Michigan’s final reading on consumer sentiment showed expectations for inflation five to 10 years out had been revised lower to 3.1%.

Bond yields have cooled, with the 10-year Treasury note yield TMUBMUSD10Y, 3.123% receding this week at its fastest rate since March, although yields were modestly higher again on Friday.

Market strategists are starting to question whether slowing growth and rising unemployment might already be having an impact on inflation …

Read More@ Market Watch HERE

Supreme Court OVERTURNS Roe v. Wade, Casey With Dobbs Decision

Assessment: In 1987 Norma McCorvey, the “Jane Roe” of the Roe v. Wade decision,  revealed that her challenge to state laws was based on a lie. McCorvey said she made up her story of becoming pregnant through being gang raped when she discovered that Texas only allows abortion when the life of the mother is at risk …

On Friday, the Supreme Court handed down its decision in the much anticipated Dobbs v. Jackson Women’s Health Organization case, overturning the pro-abortion precedent set by Rose v. Wade and Casey.

“The Constitution does not confer a right to abortion; Roe and Casey are overruled; and the authority to regulate abortion is returned to the people and their elected representatives,” wrote Justice Samuel Alito. “It is time to heed the Constitution and return the issue of abortion to the people’s elected representatives.”

 I call heaven and earth as witnesses today against you, that I have set before you life and death, blessing and cursing; therefore choose life, that both you and your descendants may live.” Deut. 30:19

He was joined in the majority opinion by Justices Thomas, Gorsuch, Kavanaugh, and Barrett. Justice Roberts filed a separate opinion concurring with the majority.

“With sorrow—for this Court, but more, for the many millions of American women who have today lost a fundamental constitutional protection—we dissent.” [sic] From Roe … to Sorrow. It truly is sad.” wrote Justices Breyer, Sotomayor and Kagan in a joint dissent.

The issue of abortion will now be returned to the individual states to regulate as each sees fit. Dark blue states are expected to impose the most radical pro-abortion policies while dark red states may ban all abortion. Many states may choose to allow abortion only under certain circumstances.

The Dobbs case concerns a Mississippi law that makes abortion illegal after the first 15 weeks of pregnancy. SCOTUS heard arguments in November 2021. The Court’s decision was originally expected to be handed down in June, but in an unprecedented act of subversion, someone leaked an early draft of the majority opinion. Politico published the leaked draft on May 2, causing uproar among abortion supporters.

Only a third or so (34%) of Americans support abortion in the second trimester, and only 19% think it’s okay in the third trimester.

Read More @ PJ Media HERE

Supreme Court Strikes Down New York’s Proper Cause Requirement for Concealed Carry

Assessment: The NRA believes that law-abiding citizens should not be required to prove they are in peril to receive the government’s permission to exercise the constitutionally protected right to carry a firearm…

The Supreme Court on Thursday issued a 6-3 decision in New York State Rifle & Pistol Association v. Bruen, expanding gun rights for the first time in more than a decade.