The DC Today - Thursday, December 8, 2022
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 8 December 2022
⏱️ 12 minutes
🧾️ Download transcript
Summary
Dow: Up +184 points (+0.55%) S&P: +0.75% Nasdaq: +1.13% 10-Year Treasury Yield: 3.48% (+7.9 basis points) Top-performing sector: Technology (+1.59%) Bottom-performing sector: Communication Services (-0.50%) WTI Crude Oil: $71.81/barrel (-0.28%) Key Economic Point of the Day:
Initial jobless claims came in at 230k – right at expectations. Continuing claims have inched higher as well, all at once indicating some softening (high since February), but very little to write home about (not a big movement up).
Links mentioned in this episode: TheDCToday.com DividendCafe.com TheBahnsenGroup.com
Transcript
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| 0:00.0 | 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. |
| 0:14.8 | Well, hello and welcome to the Thursday, D.C. today. This was the final D.C. today for the week, but the market is a course open tomorrow Friday, where we always do our weekly dividend cafe. |
| 0:26.2 | We have a fun one coming for you tomorrow where we're going to focus on a subject that all of a sudden has become huge in the media related to how private investments are being |
| 0:40.0 | valued and what that means for all investors, all behavioral understanding, all application |
| 0:47.2 | of risk and reward, managing liquidity. There's this big necessary takeaway from everything happening in this story. |
| 0:56.5 | And it even connects to the FTX and crypto implosion. |
| 1:01.2 | So I really can't tell you how pertinent I think tomorrow's Dividing Cafe is and how pertinent it is to such a wide array of investors and categories of people. |
| 1:14.4 | In terms of the DC today for Thursday, it was an upday in the market, and I'm going to just |
| 1:21.3 | quickly give you a few takeaways and then a few other broader economic points. |
| 1:27.5 | The Dow was up 184 points. |
| 1:31.1 | It was, if you'll excuse me, so I can get these numbers right. |
| 1:37.7 | It was up about half a percentage point. |
| 1:39.8 | The S&P was up about three quarters of a percentage point. |
| 1:42.8 | The NASDAQ was up about one percentage |
| 1:44.6 | points. You got kind of this layered upside on the more riskier market indices. The 10-year |
| 1:52.5 | treasury yield was actually up 7.9 basis points, still down below 3.5% at 3.48. We're divergence, though, because technology was the top performing sector today, up one and a half |
| 2:06.8 | percent, and communication services were the worst performing down half of a percent. |
| 2:13.2 | And communication services was formally part of the technology sector and they split it off. |
| 2:18.1 | And that's when 10 S&P 500 sectors became 11. |
| 2:22.9 | And so there must have been a particular name or issue within communications that just |
| 2:27.3 | kind of had a disproportionate effect there. |
| 2:30.0 | Because broadly speaking, the technology world was up today. |
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