Sign up to save your podcasts
Or
Share The DC Today - Monday, December 5, 2022
Share to email
Share to Facebook
Share to X
Share to email
Share to Facebook
Share to X
Or
The DC Today - Monday, December 5, 2022
Futures opened last night down -40 points and stayed around there into the evening. This morning they pointed to a down -100 open pre-market and worsened a bit from there.
The market opened down -175 points and worsened throughout the day, though it came a hundred points off the low late in the trading day
The Dow closed down -483 points (-1.4%), with the S&P 500 down -1.79% and Nasdaq down -1.93%
Markets on Friday gave us the full gamut of today’s idiocy, as futures quickly dropped over -400 points upon the God-awful news that more jobs were created than expected last month and that lower-income people were making a little more than they had the year before. Then, hours later, markets finished to the upside after a day of volatile trading.
Right now, consensus expectations are for $232/share of earnings for the S&P 500 next year, about 7-8% lower than what their peak expectations were but +5% higher than the $221 level of this calendar year. The best thing I can say is that if we had a recession in 2023, and earnings were up +5% on the year, that would be a rarity.
The ten-year bond yield closed today at 3.58%, up eight basis points on the day.
Top-performing sector for the day: Utilities (-0.60%)
Bottom-performing sector for the day: Consumer Discretionary (-2.95%)
Most cyclical sectors were down the most today; the most defensive sectors were down the least (but all were down)
Links mentioned in this episode:
TheDCToday.com
DividendCafe.com
TheBahnsenGroup.com
View all episodes
By The Bahnsen Group
4.9
549549 ratings
Futures opened last night down -40 points and stayed around there into the evening. This morning they pointed to a down -100 open pre-market and worsened a bit from there.
The market opened down -175 points and worsened throughout the day, though it came a hundred points off the low late in the trading day
The Dow closed down -483 points (-1.4%), with the S&P 500 down -1.79% and Nasdaq down -1.93%
Markets on Friday gave us the full gamut of today’s idiocy, as futures quickly dropped over -400 points upon the God-awful news that more jobs were created than expected last month and that lower-income people were making a little more than they had the year before. Then, hours later, markets finished to the upside after a day of volatile trading.
Right now, consensus expectations are for $232/share of earnings for the S&P 500 next year, about 7-8% lower than what their peak expectations were but +5% higher than the $221 level of this calendar year. The best thing I can say is that if we had a recession in 2023, and earnings were up +5% on the year, that would be a rarity.
The ten-year bond yield closed today at 3.58%, up eight basis points on the day.
Top-performing sector for the day: Utilities (-0.60%)
Bottom-performing sector for the day: Consumer Discretionary (-2.95%)
Most cyclical sectors were down the most today; the most defensive sectors were down the least (but all were down)
Links mentioned in this episode:
TheDCToday.com
DividendCafe.com
TheBahnsenGroup.com
More shows like The Dividend Cafe
View all
Breakpoint
3,021 Listeners
The Briefing with Albert Mohler
8,404 Listeners
Thinking in Public with Albert Mohler
1,009 Listeners
The World and Everything In It
7,002 Listeners
Mortification of Spin
832 Listeners
5 Minutes in Church History with Stephen Nichols
1,696 Listeners
National Review's Radio Free California Podcast
687 Listeners
Compelled - Christian Stories & Testimonies
998 Listeners
Conversations That Matter
1,065 Listeners
Simply Put
1,386 Listeners
Life and Books and Everything
629 Listeners
The Strong Women Podcast
611 Listeners
Capital Record
443 Listeners
Doubletake
620 Listeners
Things Unseen with Sinclair B. Ferguson
1,465 Listeners