M Notes: Mon, 12-1
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Week Close: 11-28-25 | + (-) | % | Nov % |
|---|---|---|---|---|
| Dow | 47,716 | +1,471 | +3.2% | +0.3% |
| S&P | 6,849 | +246 | +3.7% | +0.1% |
| Nasdaq | 23,366 | +1,093 | +4.9% | -1.5% |
| 10-year | 4.02 | -0.05 | -1.21% | -2.0% |
| Oil | 58.48 | +0.50 | +0.9% | -4.1% |
LAST WEEK:
Markets: A big Holiday week saved November.
S&P roller coaster last week: Up significantly, Up a lot, Up, Holiday, and Up.
Black Friday: a new U.S. record… $11.8 billion.
Durable Goods Orders: September’s Orders topped the +0.1% consensus, coming in at +0.5%. Orders were up +7.2% Y/Y.
Fed Balance Sheet: $6.552 Trillion.
Fed Beige Book: Of the 12 Districts: 1 reported modest growth, 9 saw little change, and 2 noted a modest decline. The Cleveland District reported the business activity increased slightly in this latest report.
GDP: The numbers are still delayed.
Inflation: There were supposed to be several reads last week. The PPI (Wholesale Inflation) went up +0.3% for the month of September, and rose slightly from 2.6% up to 2.7% Y/Y thru September. The PCE (the metric the Fed focuses on) numbers for October are still delayed.
Jobless Claims: The weekly number came in at 216,000. The four-week average came in at 224,000.
Jobs: In September, the expectation was for only 50,000 new jobs. But the number came in at 119,000. The October jobs number, scheduled to come out November 13th (a week and a half ago), has been cancelled. The November number release has been moved from December 10th to December 18th.
National Debt: $38.063 Trillion.
Retail Sales: September’s Sales missed +0.4% consensus, coming in at +0.2%. Sales were up +4.3% Y/Y.
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THIS WEEK:
Focus of the week: Cyber Monday is today. It’s expected to beat Black Friday this year.
Calendar: ISM Manufacturing index (Mon); Industrial production (Wed); Trade Deficit, Jobless Claims (Thu); Factory Orders, and the PCE (Fri).
* The Standard & Poor's 500 (S&P 500) is an unmanaged group of securities considered to be representative of the stock market in general. The Dow Jones Industrial Average is a price-weighted index of 30 actively traded blue-chip stocks. The NASDAQ Composite Index is an unmanaged, market-weighted index of all over-the-counter common stocks traded on the National Association of Securities Dealers Automated Quotation System. Yahoo! Finance, the Wall Street Journal, Investor’s Business Daily and Barron’s are several of the sources used for financial information.
* The National Debt figure comes from usdebtclock.org.
* Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Consult your financial professional before making any investment decision. You cannot invest directly in an index. Past performance does not guarantee future results. No strategy can assure a profit or protect against a loss. Investments in the securities markets involve risk, such as loss of your principal.