STOCK MARKET WATCH: Thursday, 9 November 2023

[Tansy_Gold]

STOCK MARKET WATCH: Thursday, 9 November 2023

Previous SMW:
SMW for 8 November 2023



AT THE CLOSING BELL ON 8 November 2023


Dow Jones 34,112.27 -40.33 (0.12%)
S&P 500 4,382.78 +4.40 (0.10%)
Nasdaq 13,650.41 +10.56 (0.077%)

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Market Conditions During Trading Hours:

Google Finance
MarketWatch
Bloomberg
Stocktwits

(click on links for latest updates)

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Currencies:













Gold & Silver:






Petroleum:

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DU Economics Group Contributor Megathreads:

Progree's Economic Statistics (with links!)
mahatmakanejeeves' Rail Safety Megathread
mahatmakanejeeves' Oil Train Safety Megathread

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Quote for the Day:

The distinction is important. Are you spending all your tine and exhausting all your energy catching field mice? In the short term it might give you a nice, rewarding feeling. But in the long run you're going to die. So ask yourself at the end of the day, "Did I spend today chasing mice or hunting antelope?" If you're honest with yourself and the answer is mice, you'd better reassess your focus, get back to the strategic core and get your butt on the trail of antelope.

James Carville and Paul Begala. Buck Up, Suck Up, and Come Back When You Foul Up: 12 Winning Secrets from the War Room. Simon & Schuster. © 2002.

This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.

[bucolic_frolic]

1. Market's been comatose all week

Waiting for retail sales, Black Friday? Nickels and dimes all week. In fact a dime was a good move this week.

[Tansy_Gold]

2. I think Black Friday . . . . . .

. . . started about a month ago.

[progree]

3. "30-Year Treasury Auction Breaks Bad, Sinks Stock Market", Barrons, 11/9/23

https://www.msn.com/en-us/money/markets/30-year-treasury-auction-breaks-bad-sinks-stock-market/ar-AA1jFm21

The Treasury’s auction of 30-year bonds on Thursday went about as bad as it could, indicating investor reluctance to own long-dated government securities.

At the auction of government debt that matures in 30 years, investors were awarded 4.769% in yield, 0.051 percentage point higher than the yield in pre-auction trading. The difference between the two yields—called a tail—indicated a weak auction where the U.S. government had to entice investors with a premium over the market to buy their debt. When demand is weak, yields typically move higher and it’s the inverse when demand is strong.

Stocks didn’t like the auction either. The S&P 500 has dropped 0.3%, while the Dow Jones Industrial Average has declined 96.14 points, or 0.3%, and the Nasdaq Composite has fallen 0.2%. ((Note: these are the numbers for Thursday Nov. 9. I realize the thread is about Nov 8 --Progree))

I don't know that one can blame the very modest ordinary move by the stock market on the Treasury auction.

I've written before how I've been affected by the downturn in my bond funds, over the the last 2 years, adjusted for inflation.