The DC Today - Thursday, December 1, 2022

Episode 519: The DC Today - Thursday, December 1, 2022

A lot going on for the first day of December for you to review

Show notes

December has launched and I have some things to tell you …

MARKET ACTION Dow: Down -195 points (-0.56%) S&P: -0.09% Nasdaq: +0.13% 10-Year Treasury Yield: 3.50% (- 19 basis points); down 72bps from the 4.22% high of just five weeks ago! Top-performing sector: Communication Services (+0.29%) & Health Care (+0.24%) Bottom-performing sector: Financials (-0.71%) WTI Crude Oil: $81.28/barrel (+0.91%) Key Economic Point of the Day:

The Fed’s favorite inflation measurement (PCE) came in up just +0.2% on the month, less than the +0.3% expected, and known to be tainted by the misleading contribution of housing’s lag effect (which I have written about extensively). The September gain had been +0.5%, so the stock and bond market responded favorably to the disinflationary trend. Initial jobless claims came in at 225,000, actually lower than expected

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David Bahnsen

David Bahnsen

David is the Founder, Managing Partner, and the Chief Investment Officer of The Bahnsen Group.

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