Summary Of the Markets Today:
- The Dow closed up 84 points or 0.24%,
- Nasdaq closed up 0.29%,
- S&P 500 closed up 0.10%,
- Gold $2042 up $29,
- WTI crude oil settled at $76 up $1.46,
- 10-year U.S. Treasury 4.332% down 0.056 points,
- USD index $102.78 down $0.042,
- Bitcoin $31,177 up $563
Today’s Economic Releases Compiled by Steven Hansen, Publisher:
According to the U.S. CoreLogic S&P Case-Shiller Index, housing market activity, while trending along the lowest levels in more than a decade, is showing signs of stabilizing. The 20-city composite indexes posted a third month of annual increases in September 2023 – up by 3.9%, In other words, while seasonal declines will pull home sales down in the months ahead, October home sales are now roughly equal to activity during the same period in 2022. This suggests that the fourth quarter of 2023 may see a slight increase in home sales compared with last year. At the same time, the availability of for-sale listings has also stabilized to October 2022 levels. If this trend continues, 2024 may start off with more new listings than seen in early 2023. Nevertheless, while the balancing of the housing market is an encouraging sign, lower mortgage rates will be necessary to prompt a sustained increase in home sales.
The Conference Board Consumer Confidence Index increased in November 2023 to 102.0 (1985=100), up from a downwardly revised 99.1 in October. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—ticked down slightly to 138.2 (1985=100), from 138.6. The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—rose to 77.8 (1985=100) in November, up from its downwardly revised reading of 72.7 in October.
The Richmond Fed manufacturing activity slowed in November 2023. The composite manufacturing index decreased from 3 in October to −5 in November. Of its three component indexes, shipments fell from 9 to −8, new orders edged down from −4 to −5, and employment decreased from 7 to 0. Manufacturing across the U.S. remains in a recession.
Here is a summary of headlines we are reading today:
- OPEC+ Rollover Agreement Likely Scenario, Meeting Could Be Delayed Again
- Will the Green Energy Stock Crash Continue Next Year?
- Oil Kneejerks On Fresh OPEC+ Discord Headlines
- U.S. Launches Oil and Gas Lease Sales on the Eve of Climate Summit
- Charlie Munger, investing genius and Warren Buffett’s right-hand man, dies at age 99
- Black Friday weekend shopping turnout soars to a record, as consumers seek bargains
- Refill Of Strategic Petroleum Reserve Slowed By Companies Delaying Return Of Borrowed Barrels
- What Happens When Millions Of Renters Can No Longer Afford High Rents And Move Back Home?
Click on the “Read More” below to access these, other headlines, and the associated news summaries moving the markets today.