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.

All right. Well, hello. Welcome to the very first DC today of the month of December. It's Thursday. We are now through December the 1st and a few things to update you regarding the market.

And a few kind of news events and economic data points I want to go through today.

Let me have the market data points out of the way.

When you had a kind of rally like you saw yesterday that really wasn't rooted in a ton of fundamental logic, it's always interesting what will happen on the second day.

And to have bound 750 points yesterday, and it really was 950 because you had been down 200.

And then to only get back 195 today, that's a reasonably strong sign technically.

The S&P was only down nine basis points today.

And the NASDAQ was actually up 13 basis points.

So you basically more or less had a kind of flat S&P and NASDAQ.

And you had a really not that much

down Dow after this massive move higher. But the biggest thing to kind of give you an indication

of the confirmation in financial markets, which is broader than just the stock market, but

across financial markets is in the bond market.

The 10-year treasury yield today closed at 3.5%.

3.5 down at 19 basis points today.

I believe it was down 14 bips yesterday.

It is down 72 basis points from the high that we had seen in many, many years

of 4.22 percent, and that was just five weeks ago. So in five weeks, you've gone from four point,

let's call it four and a quarter to three and a half. So that's a huge rally in bonds in the last

five weeks. And again, by rally, I mean, the prices of bonds going higher as the yields have gone

lower. On the equity side today, the top performing sectors weren't up a ton. Communication services

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