Dow Industrials close above 50,000 for the first time

Dow Industrials close above 50,000 for the first time. Last Friday the Dow Industrials powered ahead some 1200 points to close above 50,000 for the first time. Meanwhile, the dollar loses strength, crypto has cratered again gold has recovered much of its hit silver is languishing in the $70’s for an ounce.

US raw steel production up from previous week

In the week ending February 7, 2026, US raw steel production was 1,783,000 net tons at an ACUR of 77.1 percent, up 1.4 percent from the previous week ending February 7, 2026.
Adjusted YTD production through February 7, 2026 was 9,557,000 net tons at an ACUR of 76.2 percent.

Small Business Optimism Index fell in January

The National Federation of Independent Business (NFIB) Small Business Optimism Index fell slightly in January, ending a two-month streak of gains. The share of firms expecting the economy to improve declined slightly, with hiring and capex plans also edging lower. Encouragingly, the share of small firms expecting sales to strengthen rebounded to the highest level since early 2025.

US drill rigs running up from previous week

There were 551 drill rigs running in the US the week of February 6, 2026, up five rigs from the previous week ending January 30, 2026. This is down thirty five rigs from  one year ago, 2/7/2025.
Meanwhile, Canadian drillers shut four rigs, to 228, down 21 rigs from one year ago.

Encouraging January employment report

The January employment report was broadly encouraging. Nonfarm payrolls doubled the Bloomberg consensus forecast of 65k for January, helping to push the three-month average pace of job growth to 73k, its strongest pace since last February. The unemployment rate fell by one-tenth to 4.3 percent.

January CPI cooler than expected

The January Consumer Price Index (CPI) came in slightly cooler than expected. Core CPI rose 0.3% amid a big jump in airfares that was offset by softer than expected readings for used cars and primary shelter. Headline and core CPI inflation on a year ago basis slipped to 2.4% and 2.5% respectively, with the latter posting its lowest reading since March 2021.

News Headlines

Seattle won Super Bowl LX Sunday beating New England in what I considered a boring game, at least until the second half when there was some semblance of offense by both teams. The half-time show with the bunny boy was not inspiring to me, but to each his own. I, for one, have no idea what the NFL is trying to accomplish.

We are now (Tuesday) in day 10 of the search for Nancy Guthrie, the 84 year- old mother of newscaster Savannah Guthrie who disappeared from her home in Arizona. This is such a twisted and convoluted story that I am not going to re-tell it because the facts are so murky.
It’s Friday and there is still no sign of Nancy Guthrie. Nothing from the “kidnapper(s)” either. No further demands, no information, nothing. Personally, I think the woman, unfortunately, is dead. This story is about all they report on Fox news, I cannot watch the other news channels, too biased, but Fox has beat this story to death, it’s like nothing else is happening in the world when there is plenty going on, both good and bad.

MAKE AMERICA GREAT AGAIN

“KEEP AMERICA GREAT”

Have a great weekend…. God bless America!

Buy American made products whenever you can, it’s good for you, good for your friends and neighbors and good for our country.

If you are hiring…try to hire a veteran…. they are loyal, disciplined, hardworking…and they deserve our support.

By the way, if you wish to comment on my rants or offer any other insights you may have, you are encouraged to email me.

TEDDY ROOSEVELT ON IMMIGRANTS IN AMERICA…1907

In the first place, we should insist that if the immigrant who comes here in good faith becomes an American and assimilates himself to us, he shall be treated on an exact equality with everyone else for it is an outrage to discriminate against any such man because of creed, or birthplace, or origin. But this is predicated upon the person’s becoming in every facet an American and nothing but an American. There can be no divided allegiance here. Any man who says he is an American, but something else also, isn’t an American at all. We have room for but one flag, the American flag…We have room for but one language here and that is the English language…and we have room for but one sole loyalty and that is a loyalty to the American people.”