Across the S&P 500, insiders have sold a record $63.5 billion in shares through November 2021, a 50% increase from all of 2020 – WSJ
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rssMarkets price a terminal rate in Dec. ’24 of 1.7%, i.e. seven 25 bps hikes over 3 years.
You’re proposing 200 bps in hikes just for 2022, a massive hawkish shock vs market pricing, which would make S&P 500 crater, making it impossible to do this tightening. Financial dominance…
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S&P 500 price to sales ratio Down pointing backhand index The dotcom bubble looks so cute in this chart. Do higher profit margins and negative real rates justify it, or are we in an epic bubble?
A chart is worth a thousand words
Crude oil posts its best week since August
The price of WTI crude oil futures are settling at $71.67. That’s up $0.73 or 1.03% from its settlement price yesterday.
The week was the best since August. Last week the price closed at $66.26. From that closing level the price was up $5.41 or 8.2%.
The high price for the week reached $73.34 during trading yesterday. The low price was Monday’s low at $66.72.
Looking at the daily chart below, the move higher on Monday and Tuesday took the price back above the 200 day moving average currently at $70.11. The settled price this week as above that level. Stay above and the new week in the buyers will look toward the higher 100 day moving average at $74.08 as the next major target (blue line in the chart below)
The S&P index closes at a new record level.
It’s another record for the S&P.
- The S&P index is closing at a new record high. The index is surpassing the November 18 high close at 4704.55. The index closed at 4712.01. The S&P index also had its best week since February. The index rose 3.84%
- The Dow industrial average is closing -1.27% from its all-time high close. The Dow industrial average had its best weekly gain since March. The index rose 4.03% this week
- The NASDAQ index is -2.66% away from its all-time high close. For the NASDAQ index it rose 3.6% this week
- Dow industrial average rose 216.30 points or 0.6% at 35970.98
- S&P index rose 44.57 points or 0.95% at 4712.01
- NASDAQ index rose 113.24 points or 0.73% at 15630.61
Thought For A Day
European indices end week with a 3 day losing streak after rising strongly Monday/Tuesday
The major European indices are ending the week with a three day losing streak after rising strongly on Monday/Tuesday. Despite the declines, the indices are closing with gains for the trading week.
The provisional closes are showing:
- German DAX, -0.1%
- France’s CAC, -0.3%
- UK’s FTSE 100, -0.35%
- Spain’s Ibex -0.6%
- Italy’s FTSE MIB, -0.4%
For the trading week, the major indices are trading with solid gains for the week:
- German DAX + 3.0%
- France’s CAC +3.2%
- UK’s FTSE 100 +2.4%
- Spain’s Ibex +1.4%
- Italy’s FTSE MIB +3.0%
In other markets as European/London traders look to exit:
- Spot gold is trading up $11.80 or 0.67% at $1785.50
- Spot silver is up $0.20 or 0.92% $22.13
- WTI crude oil futures are trading up $0.16 at $71.10
- Bitcoin is trading at $47,641, and remains comfortably below the $50,000 level
Both borrowed money and borrowed conviction is dangerous. Do your own research always.
