Welcome to the DC Today, your daily market synopsis of the Dividing Cafe, brought to you every Monday through Thursday to bring you up-to-date information and perspective on financial markets.

Well, hello and welcome to the Monday edition of DC. Today, it's going to be a very oil, energy heavy talk. I do want to

cover as many of the other things as I can, but I've got to tell you that the DC Today.com,

you're going to get a lot more info today than normal just because there were a lot of different things I wanted to cover.

And I want to spend the time I have for this podcast and video focused on the rather earth-shattering news that came in Sunday in energy markets and certainly affected equity markets today. The Dow closed up 327 points

that comes after it being up over 1,000 points last week. It's been a monstrous rally here to finish

the month of March. And yet today's rally was led by the energy sector up almost 5% just today, 4.91% in the S&P energy sector.

And you had four sectors that were actually negative, including real estate that was down almost 1%. The NASDAQ itself was down 27 basis points.

So you didn't have a broad risk on rally, like we did have several days last week. You had something

a little bit more particular, selective. And again, energy was the reason. And that comes from the news we're

going to discuss in a second. The S&P was kind of in between there. It was up 37 basis

points, so not negative like the NASDAQ, but not up 1% like the Dow. The bond market rallied

today. The tenure itself was down another seven or eight basis points,

closed somewhere around the 3.4% range. So you take the first quarter of 2023, today being the very

first day of the second quarter, and the bond market was up 3.2%. That's the index that combines both government and investment-grade corporate bonds.

By the way, the Dow was up 1% last quarter.

The S&P was up 7.

The NASDAQ was up 16, as you had some of the recovery from the bloodbath that had taken place

in some of those sectors late last year.

Emerging markets were up 4% in Q1 and the Russell 2000, which is small cap companies, were up 2.3%.

So between all the fury of the Fed tightening and all the fury of recession coming and all the

theory of banks failing, well, it doesn't appear to have been caught on to risk markets

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