The DC Today - Tuesday, December 6, 2022
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 6 December 2022
⏱️ 12 minutes
🧾️ Download transcript
Summary
Lots to cover here in the DC Today … Listen to the podcast or watch the video, and check out the info below!
MARKET ACTION
Dow: -351 points (-1.03%) S&P: -1.44% Nasdaq: -2.00% 10-Year Treasury Yield: 3.53% (-6.6 basis points) – ferocious bond rally of last month continues Top-performing sector: Utilities (+0.66%) Bottom-performing sector: Energy (-2.65%) WTI Crude Oil: $74.34/barrel (-3.35%) Key Economic Point of the Day:
Business Roundtable CEO Outlook Survey was at its lowest number since Q3 2020, but is way, way above the breakeven level of expectation (that is, still anticipating substantial economic expansion, albeit with a grimmer relative outlook than last year)
The trade deficit came in at $78.2 billion in October, less than the $80 billion expected. But total trade was up on the month and is up +13.7% versus a year ago. The container ship debacle has largely subsided and yet there are still some issues marginally constricting trade (China COVID policy, Russia sanctions, etc.)
Key Economic Point of the Day:
Business Roundtable CEO Outlook Survey was at its lowest number since Q3 2020, but is way, way above the breakeven level of expectation (that is, still anticipating substantial economic expansion, albeit with a grimmer relative outlook than last year)
The trade deficit came in at $78.2 billion in October, less than the $80 billion expected. But total trade was up on the month and is up +13.7% versus a year ago. The container ship debacle has largely subsided and yet there are still some issues marginally constricting trade (China COVID policy, Russia sanctions, etc.)
Links mentioned in this episode: TheDCToday.com DividendCafe.com TheBahnsenGroup.com
Transcript
Click on a timestamp to play from that location
| 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. |
| 0:15.1 | Well, hello, welcome to another DC today and another day of some downside volatility in the market. |
| 0:23.5 | I'm going to just kind of quickly cover the basics and let you go on your way. |
| 0:29.5 | I first just by way of summary here, the Dow was down 350 points, and it was pretty much steadily down all throughout the day. It started up a tad bit, |
| 0:43.5 | went negative, and then just slowly but surely throughout the day. In the final hour, |
| 0:49.5 | I think it did get close. I'm not sure if it hit down 500 or not, but we were doing some tethering of |
| 0:56.1 | client cash down 480-ish. So it was very close to down 500. And then it closed down 350. So you |
| 1:03.2 | got a 150, 130 point bounce at the very end, down 1%. S&P was down close to 1.5%. |
| 1:11.5 | The NASDAQ was down exactly 2%. |
| 1:14.0 | So it was, again, kind of on a down day of 2022, |
| 1:18.9 | this was a more normal down day where all three indices were down, |
| 1:22.5 | Dow down the least, NASDAQ down the most, you know, the deal. |
| 1:25.7 | Now, the part that has been unique with this recent market sell-off relative to the |
| 1:31.3 | rally that we have been in for the last couple months is that today, and this has been the case |
| 1:38.0 | now for a full month, the bond market is in quite a rally. |
| 1:42.2 | And so today the tenure was down on six and a half basis points. |
| 1:47.0 | The 10 year yield is down to 3.5% so again, the price movement higher, the rally up in |
| 1:55.0 | Treasury bonds has been been pretty significant for about a month now. |
| 2:00.0 | As a matter of fact, I think today is December 7th. |
| 2:02.3 | It might be the 6th. Yeah, it's the 6th. It started on November 7th. So we've really seen quite a |
| 2:08.8 | rally here since the last month. Utilities were up on the day today. That was the only sector that |
| 2:14.4 | was up. It doesn't get much more defensive in theory than the utility |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from The Dividend Cafe - The Bahnsen Group, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of The Dividend Cafe - The Bahnsen Group and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.