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The DC Today - Thursday, January 26, 2023
Dow: +204.45 (+0.61%)
S&P: +1.10%
Nasdaq: +1.76%
10-Year Treasury Yield: 3.497% (+3 basis points)
Top-performing sector: Energy (+3.32%)
Bottom-performing sector: Consumer Staples (-0.28%)
WTI Crude Oil: $81.04/barrel (+0.89%)
Key Economic Point of the Day:
Weekly jobless claims again reflected the strength of the labor markets with initial claims coming in at 186,000 versus a median forecast of 205,000
A reminder, all of this coming on the heels of daily reports of layoffs from some of the top employers in the country
The 2022 4th quarter GDP number came in at 2.9%, slightly above the median forecast of 2.8%, and buoyed by continued solid consumer spending
Durable goods orders came in at 5.6% compared to a 2.4% forecast, but a quick look behind the curtain shows that much of this was lifted by a 116% spike in aircraft orders
ex-transportation new orders actually declined
U.S. new home sales edged out the forecasted number, reporting 616,000 on a median forecast of 615,000, and marking a three-month trend of rising new home sales
Note, the year-over-year figure here is still down nearly 27%, completely driven by higher borrowing.
Links mentioned in this episode:
TheDCToday.com
DividendCafe.com
TheBahnsenGroup.com
View all episodes
By The Bahnsen Group
4.9
561561 ratings
Dow: +204.45 (+0.61%)
S&P: +1.10%
Nasdaq: +1.76%
10-Year Treasury Yield: 3.497% (+3 basis points)
Top-performing sector: Energy (+3.32%)
Bottom-performing sector: Consumer Staples (-0.28%)
WTI Crude Oil: $81.04/barrel (+0.89%)
Key Economic Point of the Day:
Weekly jobless claims again reflected the strength of the labor markets with initial claims coming in at 186,000 versus a median forecast of 205,000
A reminder, all of this coming on the heels of daily reports of layoffs from some of the top employers in the country
The 2022 4th quarter GDP number came in at 2.9%, slightly above the median forecast of 2.8%, and buoyed by continued solid consumer spending
Durable goods orders came in at 5.6% compared to a 2.4% forecast, but a quick look behind the curtain shows that much of this was lifted by a 116% spike in aircraft orders
ex-transportation new orders actually declined
U.S. new home sales edged out the forecasted number, reporting 616,000 on a median forecast of 615,000, and marking a three-month trend of rising new home sales
Note, the year-over-year figure here is still down nearly 27%, completely driven by higher borrowing.
Links mentioned in this episode:
TheDCToday.com
DividendCafe.com
TheBahnsenGroup.com
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