Economy

Tansy_Gold

(18,082 posts) Mon Nov 27, 2023, 04:47 PM Nov 2023

STOCK MARKET WATCH: Tuesday, 28 November 2023

STOCK MARKET WATCH: Tuesday, 28 November 2023

Previous SMW:
SMW for 27 November 2023

AT THE CLOSING BELL ON 27 November 2023

Dow Jones 35,333.47 -56.68 (0.16%)
S&P 500 4,550.43 -8.91 (0.20%)
Nasdaq 14,241.02 -9.83 (0.069%)

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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:

Before the rise of PAC advertising, candidates were held accountable by the electorate for the content of ads benefiting them. This fact functioned as a check on the fairness and facticity of campaign advertising. Consequently, Reagan would never sponsor advertising suggesting that Carter endorsed the teaching of homosexuality and abortion in the schools for, in fact, Carter had not. Yet a PAC can make such a claim with impunity. Of course, the possibility always existed that Reagan might absorb the blame for theses ads if voters could be persuaded that by saying nothing he was, in part, responsible for these "dirty" attacks. But it was just as likely that viewers would not see through these ads that played on their baser emotions. In short, PAC ads can act as loose cannons careening across the political deck and in the process impede the public's ability to rationally assess political claims.

Kathleen Hall Jamieson. Packaging the Presidency: A History and Criticism of Presidential Campaign Advertising (Third edition). Oxford University Press. © 1996.

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.

3 replies

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STOCK MARKET WATCH: Tuesday, 28 November 2023 (Original Post) Tansy_Gold Nov 2023 OP

Ughh, S&P 500 back in "pullback" territory relative to the all time closing high: Down 5.14% progree Nov 2023 #1

There's a reason for the size and performace of those large tech companies bucolic_frolic Nov 2023 #3

I checked out of my sputtering value fund today. It just goes up and down bucolic_frolic Nov 2023 #2

progree

(11,602 posts)

1. Ughh, S&P 500 back in "pullback" territory relative to the all time closing high: Down 5.14%

Reply to Tansy_Gold (Original post)

Mon Nov 27, 2023, 05:50 PM

Nov 2023

A pullback is between 5% and 10% below a recent closing high (I choose the all-time closing high of 1/3/22). A correction is down between 10% and 20%. A bear market is down over 20%.

S&P 500 history: https://finance.yahoo.com/quote/%5EGSPC/history?p=%5EGSPC
4550 -- Today's close
4797 -- all-time closing high, 1/3/22
Year-to-date: 12/31/22: 3840, today: 4550, up 18.5%
S&P 493: The S&P 500 without the Magnificent Seven: "basically flat" year-to-date

https://finance.yahoo.com/news/stock-market-news-today-stocks-mixed-but-still-head-for-blowout-month-123520402.html

... The "Magnificent Seven" tech stocks — Apple (AAPL), Alphabet (GOOGL, GOOG), Microsoft (MSFT), Amazon (AMZN), Meta (META), Tesla (TSLA), and Nvidia (NVDA) — make up roughly one-third of the S&P 500's market cap. Collectively they are up 80% this year. And when the S&P's growth is measured without them, the S&P493 is basically flat, according to an analysis by Apollo Global Management’s chief economist Torsten Slok.

... "AI is the latest shiny new toy," is how Slok characterises the massive growth of the Magnificent Seven. "In fact, S&P7 valuations are beginning to look similar to the...tech bubble in March 2000," he said, noting that the seven companies have an average P/E ratio above 50.
...

Bonds have done considerably worse over the last 2 years.

bucolic_frolic

(48,931 posts)

3. There's a reason for the size and performace of those large tech companies

Reply to progree (Reply #1)

Mon Nov 27, 2023, 08:02 PM

Nov 2023

They make all the money. Some place I read like 5% of the stocks make 90% or more of the entire corporate profits in America.

All you need in your 20s is to plug into the engines of capitalism. The fastest growers go up and split and go up and split. Many split on average about 7 times. Hitch that wagon for 30 years.

bucolic_frolic

(48,931 posts)

2. I checked out of my sputtering value fund today. It just goes up and down

Reply to Tansy_Gold (Original post)

Mon Nov 27, 2023, 07:57 PM

Nov 2023

The last up has been weak. I spent time looking at several types of funds, in many varieties. I notice many trail their bench mark for the year. Only super growth tech are up significantly. Markets in the doldrums for weeks now. Big thing in December is they'll all be making picks for the new year. Some well-performing independent advisors - money managers in their own right - also post their picks. Mutual funds are not doing well for me except Eastern Europe, and that because I bought in near the bottom. Japan? mediocre. Bonds? mediocre. But energy is cheaper right now and that should juice 2024.

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