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| | | Good morning, | I want to wish you and your family a Happy Thanksgiving. | The market’s resilience shone through this week, with small and mid-cap stocks leading the charge. The Russell 2000 and S&P Mid Cap 400 demonstrated impressive momentum, surging 4.5% and 4.2% respectively. This rotation into smaller companies signals growing investor confidence in broader market segments. | The major indices weren’t far behind – S&P 500 and Nasdaq Composite each gained 1.7%, while the Dow Jones Industrial Average advanced 2.0%. | | A particularly intriguing development emerged in the tech sector. Alphabet faced headwinds, dropping 4.2% after the Department of Justice pushed for potential divestitures of Chrome and Android. The plot thickened when Microsoft-backed OpenAI revealed plans to develop its own browser – a move that, ironically, might strengthen Google’s position against antitrust concerns. | The retail sector delivered quite a show this week. Target took a significant hit, tumbling 17.8% (including a dramatic 20% plunge during Wednesday’s session) following disappointing earnings. Meanwhile, Walmart demonstrated its market leadership with a robust 7.4% gain after its earnings report exceeded expectations. | Have a great week! | Irving Wilkinson, Editor | AlphaBetaStock.com | | 11.4% Cash Returns with Portfolios of Online Businesses. | | WebStreet is a first-of-its-kind investment platform that allows accredited investors to own fractional shares in cash-flowing online businesses. | Our process is simple: | We buy online businesses cash-flowing from day one. 💸 We partner with world-class entrepreneurs to run and scale the businesses. 🚀 You invest, gaining fractional ownership and earning quarterly dividends. 📈
| Additionally, you'll share in the profits when we exit these businesses within 2-3 years. | Are you an accredited investor looking for passive income and the potential of a high-upside exit? Join WebStreet’s Waitlist Here. | | Bonds and Treasuries | | The fixed-income market painted an intricate picture this week. The 10-year yield eased two basis points to 4.41%, while the 2-year yield climbed seven basis points to 4.37%. This narrowing spread between short and long-term rates deserves close attention, as it often precedes significant market shifts. | US Market Highlights | The domestic landscape buzzed with significant developments: | :• Gary Gensler’s upcoming departure from the SEC Chair position signals potential regulatory shifts
• Housing market showed renewed vigor with October sales jumping 3.4%
• Business activity reached a 31-month peak with the S&P Composite PMI hitting 55.3
• Spirit Airlines entered Chapter 11 while maintaining operations
• Comcast’s decision to spin off its cable networks marks a strategic pivot
• Tesla shares rallied on potential autonomous driving regulation changes | | Global Highlights | International markets presented a complex tapestry of developments: | • Moscow updated its nuclear doctrine, raising geopolitical tensions
• Japan unveiled an ambitious $141B stimulus package
• China maintained its lending rates steady at 3.1% for 1-year and 3.6% for 5-year loans
• UK inflation surprised with a 2.3% October reading
• Canada’s inflation hit the 2% mark, complicating monetary policy decisions | |
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| Commodities & Crypto | | The energy sector, oil markets retreated significantly, with Brent and WTI touching yearly lows around $71 and $67, respectively. OPEC revised its global demand growth forecast down to 1.82 million barrels per day. | | Gold declined for the second consecutive week, falling to around $2,570 as rising bond yields put pressure on the precious metal. | | The cryptocurrency market delivered extraordinary drama this week. Bitcoin reached a staggering $93,500 before settling below $90,000, driven by over $2 billion in net ETF inflows. | Dogecoin was surprised with a 32% weekly gain, partly fueled by speculation about Elon Musk’s potential government role. | | The Thanksgiving-shortened week still packs plenty of market-moving potential: | • Tuesday: Consumer confidence data and new home sales figures
• Wednesday: Personal income reports, GDP revision, and Fed minutes
• Notable earnings from Dell, CrowdStrike, and Analog Devices | The PCE price index release on Wednesday warrants special attention as the Fed’s preferred inflation gauge. Additionally, Pony AI’s IPO could shake up the autonomous driving sector, targeting a valuation of up to $4.6B.Remember, holiday-shortened weeks often bring unexpected volatility. Stay vigilant but measured in your approach. | | Copyright © 2023 AlphaBetaStock.com All Rights Reserved | AlphaBetaStock.com is a financial news publisher that does not offer any personal financial advice or advocate the sale or purchasing of any investment/security. Please contact us for any errors in stories by clicking here. For more information, please read our full disclaimer. |
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