The DC Today - Wednesday, November 30, 2022
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 30 November 2022
⏱️ 14 minutes
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Summary
A monstrous rally ensued today when Jerome Powell verified Fed plans to slow down on rate hikes. Do I think this makes sense? Well, I will tell you what I think about all of it in today’s podcast and video!
MARKET ACTION
Dow: +737 points (+2.18%) S&P: +3.09% Nasdaq: +4.41% The S&P 500 ended the month of November up +5.37% and the Dow ended up +5.7%. Combined with October Q2 has been monstrous, so far anyways. 10-Year Treasury Yield: 3.61% (-14 basis points) Top-performing sector: Technology (+5.03%) Bottom-performing sector: Energy (+0.56%) – one of those days where the WORST sector was up this much WTI Crude Oil: $80.45/barrel (+2.88%) Key Economic Point of the Day:
Q3 GDP growth was revised upward to +2.9% annualized (from +2.6% before) Job Openings fell in October to 10.3 million, down 353,000 from the month prior and 760,000 less than a year ago
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. |
| 0:15.5 | Well, hello and welcome to the Wednesday, D.C. Today, also the November 30th, D.C. Today, meaning the month of November is done. |
| 0:24.8 | And we most certainly ended with a bang, not a whimper. |
| 0:29.7 | I'm going to walk through the whole thing. |
| 0:31.4 | I want to talk to you guys today a little bit about what's going on. |
| 0:34.4 | It was a very odd day. |
| 0:36.1 | The Dow was up 737 points, which was 2.18% today. |
| 0:41.8 | The S&P was up 3.09% today. The NASDAQ was up 4.41% today. |
| 0:50.2 | On the month of November, so just the last calendar month, the S&P was up 5.37% and the Dow was up 5.7. |
| 1:01.7 | And the month of October was monstrous for both market indices as well. |
| 1:09.3 | So, you know, there's still a whole month to go in Q4, but right now Q4 is up quite a bit. |
| 1:16.5 | You're talking about a Dow. |
| 1:18.7 | I just want to give you a little context on this. |
| 1:21.3 | The Dow is sitting at 34,590, okay? |
| 1:26.4 | The all-time high in history of the Dow, |
| 1:31.0 | which was hit at the basically around 12, 13 months ago, |
| 1:37.3 | is in the 36,000s. |
| 1:41.7 | It's just surreal that we're basically not really. |
| 1:48.4 | Look, if you had two days like today, two days, you're back at where the all-time high was. |
| 1:55.3 | So we'll talk about what I think about that here in a moment. |
| 2:00.2 | S&P and NASDAQ are still down quite a bit. |
| 2:03.4 | There's a different composition of those indices, okay? |
... |
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