The DC Today - Tuesday, November 22, 2022
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 22 November 2022
⏱️ 9 minutes
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Summary
Today we are one day closer to cutting into that turkey, enjoying some homemade gravy, and spending some quality time with those nearest and dearest to us. A great time of the year to be grateful, and I, Trevor Cummings, am personally grateful to be filling in for David Bahnsen today. I wish you all a wonderful Thanksgiving, and I encourage you to take a moment to watch or listen to what’s happening in markets today (links below).
And off we go…
Full Blog post here: https://bahnsen.co/3V7jsLO
Topics discussed: Dow: +397 (+1.18%) S&P: +1.36% Nasdaq: +1.36% 10-Year Treasury Yield: 3.76% (-6 basis points) Top-performing sector: Energy (+3.18%) Bottom-performing sector: Real Estate (+0.46%) WTI Crude Oil: $81.20/barrel (+1.15%)
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. |
| 0:12.6 | Hello and welcome to DC Today. I'm Trevor Cummings, filling in for David Bonson today. |
| 0:17.2 | Just about around the favorite time of the year for me. I love this time of the year because everybody |
| 0:22.5 | starts to share what they're grateful for. Everyone's thankful. Hopefully everyone's in a good mood |
| 0:27.7 | as long as they're not going to Costco trying to buy some last minute turkeys or whatnot. |
| 0:32.1 | Also, markets are somewhat quiet around this time of the year. As you get closer to Christmas |
| 0:37.4 | and New Year, you see volumes drop a little bit and kind time of the year. As you get closer to Christmas and New Year, |
| 0:38.6 | you see volumes drop a little bit and kind of just the general news feed is a little bit less |
| 0:43.6 | than normal. So markets were positive today. A lot of that was backed by this idea that |
| 0:50.6 | maybe inflation is going to come down faster than the general market assumed. |
| 0:55.5 | The rate hikes will be a little bit lighter than assumed. Maybe a 50 basis point rate hike |
| 1:00.0 | is what's most likely other than a 75 basis point hike. And again, that changed the general mood |
| 1:05.5 | of markets. So you saw the Dow go up 397 points, which is 1.18%. |
| 1:11.6 | S&P was up 1.36%. |
| 1:14.6 | NASDAQ actually matched that. |
| 1:15.6 | It was up 1.36% as well. |
| 1:17.6 | Top performing sector was energy. |
| 1:19.6 | Energy was up 3.18% today. |
| 1:22.6 | Bottom performing sector was real estate down, or up, sorry, 0.46%. |
| 1:28.0 | Why did energy do so well? |
| 1:29.9 | Well, again, markets are all based on expectations and assumptions. |
| 1:34.3 | OPEC plus came out and said they are going to stick with their production plans, |
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