-0.3 C
New York
Tuesday, November 30, 2021
spot_img

The Bull Paused to Refresh

#stocks #cryptocurrencies #Bulls #CPI #inflation

$SPY $QQQ $RUT $DIA $GE $VXX $BTCUSD $ETHUSD $GBITS

DJIA -112.24 to 36319.98, NAS Comp -95.81 to 15886.54, S&P -16.45 to 4685.25

“The S&P 500 declined 0.4% Tuesday, capping an 8-session winning streak on profit-taking interest and a decline in US Treasury yields” — Paul Ebeling

The NAS Comp capped an 11-session winning streak with a 0.6% decliner. The Russell 2000 also fell 0.6%, while the Dow Jones Industrial Average finishes off 0.3%. 

  • S&P 500 +24.7% YTD
  • NAS Comp +23.3% YTD
  • Russell 2000 +22.9% YTD
  • DJIA +18.7% YTD

Notably, General Electric (NYSE:GE) made its future path known with an announcement that it plans to split into 3 public companies focused on aviation, healthcare, and energy. 

On the US economic front

  • Tuesday, the Producer Price Index for final demand increased 0.6% M-M in October and the index for final demand, less foods and energy, increased 0.4%.
    • The Key takeaway from the report is that the Y-Y readings for total PPI and core PPI were unchanged from September, which will contribute to the notion that the inflation experienced by producers is at/or near Top markss.
  • The NFIB Small Business Optimism Index for October decreased to 98.2 from 99.1 in September.

Looking Ahead: Investors will receive the the Consumer Price Index for October, weekly Initial and Continuing Claims, the Treasury Budget for October, and Wholesale Inventories for September Wednesday.

On the cryptocurrencies front

The cryptocurrency markets are back in record territory. Bitcoin has comfortably crossed $66,000, while Ethereum is trading at $4,700+. GBITS has crossed $370, headed to $400. And with the broader cryptocurrency market cap now barreling toward $3-T, the Bulls are in control.

US politics

The Newsom Problem: “Rules for me and not for thee” elites are, once again, accepted as California’s new normal.

Have a prosperous day, Keep the Faith!

Paul Ebeling
Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he is the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

Related Articles

Stay Connected

15,334FansLike
43,300FollowersFollow
2,855SubscribersSubscribe
- Advertisement -spot_img

Latest Articles