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The DC Today - Wednesday, February 8, 2023
Good afternoon, Brian Szytel here with you today on this down day in markets following yesterday’s unconvincing (to me, at least) Fed-led rally. Today there is more chatter from several other Fed Presidents I’ll discuss, along with some comments on inflation, recession indications, and some takeaway comments from last night’s State of the Union address. Plenty to go through, including my Super Bowl prediction at the end, so I’ll let you hop into the podcast link below from here and reach out with any questions, as always.
US futures opened last night down slightly, losing a little ground through the night, pointing to a down 100-point open at home, while Europe, in contrast, continued to hold gains.
Markets opened in the red by about 110 points but were back toward fair value within the first hour of the morning session.
Dow: -207 points (-.61%)
S&P: -1.11%
Nasdaq: -1.68%
10-Year Treasury Yield: 3.63%%, down 4.7 basis points on the day. The 2/10 yield curve is inverted by over 80 bps. The 3mo/10YR curve is inverted by 108 bps.
Top-performing sector: Real Estate was the best-performing sector today at -.29%, although all sectors were in the red.
Bottom-performing sector: Communication Services are down -4.13%, largely due to Google being down over 7% on the day.
WTI Crude Oil: $78.41/barrel, up +1.63%
Links mentioned in this episode:
[TheDCToday.com] https://bahnsen.co/3xdfw1m
DividendCafe.com
TheBahnsenGroup.com
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By The Bahnsen Group
4.9
562562 ratings
Good afternoon, Brian Szytel here with you today on this down day in markets following yesterday’s unconvincing (to me, at least) Fed-led rally. Today there is more chatter from several other Fed Presidents I’ll discuss, along with some comments on inflation, recession indications, and some takeaway comments from last night’s State of the Union address. Plenty to go through, including my Super Bowl prediction at the end, so I’ll let you hop into the podcast link below from here and reach out with any questions, as always.
US futures opened last night down slightly, losing a little ground through the night, pointing to a down 100-point open at home, while Europe, in contrast, continued to hold gains.
Markets opened in the red by about 110 points but were back toward fair value within the first hour of the morning session.
Dow: -207 points (-.61%)
S&P: -1.11%
Nasdaq: -1.68%
10-Year Treasury Yield: 3.63%%, down 4.7 basis points on the day. The 2/10 yield curve is inverted by over 80 bps. The 3mo/10YR curve is inverted by 108 bps.
Top-performing sector: Real Estate was the best-performing sector today at -.29%, although all sectors were in the red.
Bottom-performing sector: Communication Services are down -4.13%, largely due to Google being down over 7% on the day.
WTI Crude Oil: $78.41/barrel, up +1.63%
Links mentioned in this episode:
[TheDCToday.com] https://bahnsen.co/3xdfw1m
DividendCafe.com
TheBahnsenGroup.com
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