Inflation / You MISSED out
Stock Market has best Week of 2023
November and December are two of the best months for the stock market historically.
The Dow was up by 5.07% in its best week since October 2022. The S&P 500 was higher by 5.85% and the Nasdaq gained 6.61%. It was the best week for both indexes since November 2022.
Month to Date 11/24/23
DIA is up 7%
Spy 8.8%
QQQ 10.83%
The October jobs report on Friday came in weaker than expectations, showing the Fed’s attempt to cool the economy and stifle inflation could be working. The U.S. economy last month added 150,000 jobs, below the 170,000 payrolls increase consensus estimate from Dow Jones, and lower than September’s blowout of 297,000 jobs added. The unemployment rate rose to 3.9%, compared to expectations that it would hold steady at 3.8%.
Bond yields, which have weighed on the stock market the last three months, tumbled Friday in the wake of the softer-than-expected payrolls figures and lighter average hourly earnings increase. The 10-year Treasury yield lost more than 9 basis points to 4.57%, down from the 5% high it hit last month. The 2-year Treasury yield lost 13 basis points to 4.8%.
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