Daily Chart Report ? Tuesday, November 1st, 2022
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Today’s Summary
Tuesday, November 1st, 2022
Indices: Russell 2000 +0.25% | Dow -0.24% | S&P 500 -0.41% | Nasdaq 100 -1.02%
Sectors: 5 of the 11 sectors closed higher. Energy led, gaining +0.97%. Consumer Discretionary lagged dropping -1.01%.
Commodities: Crude Oil futures rose +2.13% to $88.37 per barrel. Gold futures gained +0.55% to $1,650 per ounce.
Currencies: The US Dollar Index was flat.
Crypto: Bitcoin was unchanged at $20,492. Ethereum rose +0.52% to $1,582.
Interest Rates: The US 10-year Treasury yield inched lower to 4.046%.
Here are the best charts, articles, and ideas being shared on the web today!
Chart of the Day
Today’s Chart of the Day was shared by Yuriy Matso (@yuiriymatso). It’s a tale of two indexes. The Dow had a record-breaking month in October, gaining 14%. However, the Nasdaq wasn’t nearly as impressive, gaining just 4%. Yuriy points out that the Dow has retraced 50% of its decline, while the Nasdaq has only retraced 10%. The Dow simply has more exposure to what’s working (Industrials, Financials, Health Care, Energy), and less exposure to what’s not working (Tech and Communications). On the other hand, the Nasdaq is heavily weighted toward those laggards. Now just imagine if they hadn’t kicked Exxon out of the Dow a couple of years ago…
Quote of the Day
“In the end, winning is sleeping better.”
– Jodie Foster
Top Links
The Best October for the Dow Ever – Carson Group
Ryan Detrick examines the Dow’s record-breaking performance in October and what it could mean for November.
Wild Monthly Moves – Bespoke
Bespoke takes a look at the large monthly gains/losses that we’ve had in the S&P 500 this year.
The Focus Remains on Relative Strength – Research by Potomac
Dan Russo analyzes all 11 sectors of the S&P 500.
Visualizing S&P 500 Performance in 2022, by Sector – Visual Capitalist
Here’s a cool visual showing how the sectors of the S&P 500 have performed this year.
Top Tweets
You’re all caught up now. Thanks for reading!