The Morning Call---Black Friday shoppers spend record amounts in online sales

 

The Morning Call

 

11/28/23

 

The Market

         

    Technical

                    

            Monday in the charts.

            https://www.zerohedge.com/markets/bonds-big-tech-bullion-shrug-black-friday-blues-banks-builders-bruised

 

            The bull market continues?

            https://allstarcharts.com/bull-market-turns-17-months-old/

 

            Shine returning to gold.

https://www.cnbc.com/2023/11/27/gold-at-six-month-high-as-dollar-declines-and-investors-eye-rate-cuts.html?utm_campaign=What%20I%20Am%20Reading&utm_medium=email&_hsmi=284159662&_hsenc=p2ANqtz-8Ox5U5xK8Hc5hwQY5y9G_4XCpSDVX697toJqfnoKCe2iYuzyEP-wH_OikKoL0tBEb_nudqWujKZr2oceFkKhwsznpEqA&utm_content=284159662&utm_source=hs_email

 

    Fundamental

 

       Headlines

 

              The Economy

 

                        US

 

October new home sales fell 5.6% versus expectations of down 4.0%; building permits were up 1.8% versus +1.1%.

                          https://www.advisorperspectives.com/dshort/updates/2023/11/27/new-home-sales-fall-more-than-expected-in-october

 

The November Dallas Fed manufacturing index came in at -19.9 versus projections of -17.0.

                          https://www.advisorperspectives.com/dshort/updates/2023/11/27/dallas-fed-manufacturing-business-conditions-continue-to-worsen-in-november

 

                        International

 

                        Other

 

            The Fed

 

              Investors see interest rate cuts coming soon.

  https://www.wsj.com/finance/investing/investors-see-interest-rate-cuts-coming-soon-recession-or-not-d30646c9?mod=hp_lead_pos1&utm_campaign=What%20I%20Am%20Reading&utm_medium=email&_hsmi=284159662&_hsenc=p2ANqtz-_3Km-Fra07UPXLMugcpcE7d9XyHAk90MjFlwzcomnxoonaZboJht5gBpaWssXM7hC8nHgZ7-tBJYmM3nPvLGuIYT9h2w&utm_content=284159662&utm_source=hs_email

 

            Recession

 

              Black Friday shoppers spend record amounts in online sales.

              https://www.cnbc.com/2023/11/25/black-friday-shoppers-spent-a-record-9point8-billion-in-us-online-sales-up-7point5percent-from-last-year.html

 

                          Spending on travel above pre-pandemic levels.

              https://www.calculatedriskblog.com/2023/11/tsa-airline-travel-above-2019-levels.html

 

            Geopolitics

 

              Neocons continue to poke Russia in the eye.

              https://www.nakedcapitalism.com/2023/11/the-west-is-inching-closer-to-more-insanity-in-the-baltic-sea.html

 

                War in the Middle East

 

              A ceasefire is far from a lasting peace.

              https://www.nakedcapitalism.com/2023/11/a-ceasefire-is-far-from-lasting-peace-a-national-security-expert-on-the-israel-hamas-deal.html

 

                China

 

              China scrambles to contain looming shadow bank meltdown.

  https://www.wsj.com/finance/investing/china-scrambles-to-contain-a-looming-shadow-bank-meltdown-e7af1450?mod=finance_lead_pos1&utm_campaign=What%20I%20Am%20Reading&utm_medium=email&_hsmi=284159662&_hsenc=p2ANqtz-_PMfm9skzgT8k2FUdAvLFyQYVxZDlcZc5PPmYcEm_r8ewVuBoXYho1vMJOq0-sr9OiTugexA_H6UWO7WzZ7w_ldK7WdQ&utm_content=284159662&utm_source=hs_email

                       

The Bond Market

 

  The world’s largest buyer of US bonds isn’t going away.

  https://www.wsj.com/finance/the-worlds-largest-buyer-of-u-s-debt-isnt-going-away-3b70afd3?mod=finance_lead_story&utm_campaign=What%20I%20Am%20Reading&utm_medium=email&_hsmi=284159662&_hsenc=p2ANqtz-_uyVGRs3Aboz_cpLW6_EU7ag4La3HoLbbwlvDJcSL4TEJrtmNv3mMsc1t97Z5Tm5tJyJcCzvJBIkPH_VMXcZsoNQx4JA&utm_content=284159662&utm_source=hs_email

 

     Bottom line

 

            S&P returns and why your performance is worse.

            https://www.advisorperspectives.com/commentaries/2023/11/27/s-p-500-market-performance-worse-lance-roberts

 

                The art of market timing

            https://ritholtz.com/2023/11/the-art-of-market-timing/

 

    News on Stocks in Our Portfolios

 

            Bank of Nova Scotia (NYSE:BNS): Q4 Non-GAAP EPS of C$1.26.

            Revenue of C$8.31 billion (+8.9% Y/Y).

 

Bank of Nova Scotia (NYSE:BNS) declare CAD 1.06/share quarterly dividend, in line with previous.

 

What I am reading today

 

            Quote of the day.

            https://cafehayek.com/2023/11/quotation-of-the-day-4463.html

 

                        Solving one of history’s greatest cold cases.

            Exclusive: This is how you solve one of history's greatest cold cases (nationalgeographic.com)

 

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