The DC Today - Wednesday, December 7, 2022
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 7 December 2022
⏱️ 18 minutes
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Summary
A DEAD FLAT day in the Dow – up/down +0.00% (you do not see that often), and a whole lot I discuss in the DC Today.
MARKET ACTION
Dow: Up 1 point (LOL) (+0.001%) S&P: -0.19% Nasdaq: -0.51% 10-Year Treasury Yield: 3.42% (-9.3 basis points) Top-performing sector: Health Care (+0.85%) Bottom-performing sector: Communication Services (-0.93%) WTI Crude Oil: $72.43/barrel (-2.48%) Key Economic Point of the Day:
Used vehicle prices hit their lowest level in over a year as outright deflation continues to permeate that marketplace (-15.6% decline since January)
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. |
| 0:14.5 | Well, hello and welcome to the Wednesday, D.C. today. So yes, we are now through that halfway point of the week and then some. |
| 0:24.2 | And we had a very rare occasion in the Dow today. I have seen it before, actually. |
| 0:31.2 | And there's a part of me, it thinks we saw it earlier this year, although I think that was the S&P, not the Dow. |
| 0:39.3 | But I haven't seen it, but maybe three times in, you know, 25 years of doing this. The Dow was up 0.00%. |
| 0:51.2 | Now, because it was up one point, you know, from a roughly 33 to 34,000 point |
| 0:58.3 | denominator, it was technically up point 0.001 percent, but flat as can be in the Dow. The S&P was down |
| 1:07.0 | 19 basis points and the NASDAQ was down. Let's see, the exact amount was 51, |
| 1:14.0 | yeah, 51 basis points. So you had a little bit downside with the tech side. Communication |
| 1:19.7 | Services was the worst performing sector. It was down 93 basis points. So not a very exciting day in the market overall, but nevertheless, |
| 1:32.3 | that flat thing on the Dow, I thought would be interesting to you. Okay, in terms of the |
| 1:38.7 | stuff that was kind of up today, we've had a real theme here, you may have noticed, this week. And I wanted to reiterate |
| 1:46.4 | what that's about is that we are, the best performing sector was in, excuse me, the health care side. |
| 1:57.3 | It was 85 basis points. Consumer staples were up 38 basis points. Real estate was up a |
| 2:03.7 | quarter of a percent. Those are the only three positive performing sectors. So whether it's been the |
| 2:09.6 | only positive space or the least negative space, you're now working on four or five days of the defensive type sectors doing much better. |
| 2:22.9 | And so there's a real theme going on right now. |
| 2:25.7 | We'll see how long at last. |
| 2:26.9 | I think it has most everything to do with advance to where the Fed is going to be next week. |
| 2:34.0 | There's a lot of things I actually want to talk |
| 2:35.5 | about, and so I hope I can make it more interesting. First of all, it just has to be repeated, |
| 2:40.7 | because if the facts change, I'll change having to say the same thing, but the facts keep repeating |
... |
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