MARKET REPORT
America is now unburdened by what has been
Star-jumps! Exercise is good for you
You were found in clear conditions. But you’re handsome in the fog.
“Voters seem to forget when politicians ‘give’ you money, it is the voters’ money they have already taken.”
Day in Review:
Today:
DATA:
– Soft China inflation
COMPANIES
– Tesla +8.5%, +38% since election (one stage today +48%), recently reclaimed $1T Mkt Cap
– Tesla stock now costs a distressingly high 88 times trailing earnings, and 322 times free cash flow
– Following November 5’s close, Tesla had a market cap of $807.1B, currently $1.09T
– TSLA posted sales of $25.18B in Q3, Net income of $2.17B, Musk estimated EV growth at 20-30% in 25
– Tesla increased to a 30-month high of 350.87 USD. Over the past 4 weeks, Tesla gained 44.86%, and in the last 12 months, it increased 66.57%
– Deutsche Telekom increased to a 23-1/2-year high of 28.73 EUR. Over the past 4 weeks, Deutsche Telekom gained 4.51%, and in the last 12 months, it increased 32.69%
GENERAL:
– Veterans Day Holiday US today
– Euro Bourses up 1%
– Mexican Peso -1.76%, 2yr low
– Markets now expect the Fed to lower the funds rate until an upper threshold of 4% by the fourth quarter of 2024, compared with a terminal rate of 3% last quarter.
– Tom Homan named new border Czar
https://x.com/clownworld_/status/1855838377582731582?s=48&t=SpbdnfdpTfcHF_dTqHn9aA
– Wheat decreased to a 9-week low of 556.75 USd/Bu. Over the past 4 weeks, Wheat lost 4.62%, and in the last 12 months, it decreased 7.31%
– Gold decreased to a 4-week low of 2638.00 USD/t.oz. Over the past 4 weeks, Gold lost 0.33%, and in the last 12 months, it increased 35.71%
– Silver decreased to a 4-week low of 30.75 USD/t.oz. Over the past 4 weeks, Silver lost 1.21%, and in the last 12 months, it increased 38.32%
– Nat Gas +10%, Crude -3%, OJ down 10%
– BTC continues to surge +7% to 87k
– Israels Haifa hit by 90 rocket Hezbollah attack
– The key economic data releases this week are the CPI report on Wednesday, the retail sales report on Friday, and PPI on Thursday. There are several Fed speaking engagements including Powell and Williams on Thursday.
– WEDNESDAY Senate votes on next leader (Prev Mitch McConnel) The three top candidates to replace him are neocon Sens. John Cornyn (R-TX) and John Thune (R-TX), and Trump ally Sen. Rick Scott (R-FL) – who notably has the backing of MAGA and Elon Musk.
– Yale University chief psychiatry resident Dr. Amanda Calhoun is advising that it may also be necessary for your mental health to cut off your family and friends who supported Trump. In that way, you can avoid being “triggered” by opposing political views (Love diversity, except in thought or opinion)
– Japan to support domestic chip industry
– China’s Foreign Direct Investment Set For First Negative Year In History
– Dow tops 44k, S&P tops 6K
– Equities up, Treasuries cash closed, Crude down, Dollar up
Ahead:
– Australian NAB Business Conditions, UK Jobs, EZ/German ZEW, NY Fed SCE
– US and China CPI, US Retail Sales, US Powell, UK and Australian Jobs THIS WEEK
– Minutes from ECB
Speakers:
– BoE’s Pill; ECB’s Rehn, Cipollone; Fed’s Waller, Barkin, Kashkari, Harker
MAJORS:
DX:
– Dollar back at Election Highs
– Kashkari (2026 voter) spoke over the weekend and said if growth and productivity are strong, the Fed may not cut as much, while adding they want to get the job done on inflation. Ahead, there is a deluge of Fed speak this week with Powell, Williams, and Waller all speaking with the data highlight US CPI on Wednesday.
EQUITIES:
EUR:
– DAX +1.22% at 19,451, FTSE 100 +0.65% at 8,125, CAC 40 +1.20% at 7,427, Euro Stoxx 50 +1.07% at 4,854
US:
– SPX +0.1% at 6,001, NDX -0.05% at 21,107, DJIA +0.69% at 44,293, RUT +1.47% 2,43%
Sectors:
– Consumer Discretionary +1.76%, Financials +1.42%, Industrials +0.80%, Communication Services +0.45%, Energy +0.42%, Utilities +0.30%, Materials -0.51%, Consumer Staples -0.53%, Health -0.59%, Real Estate -0.80%, Technology -0.89%
OIL:
WTI crude oil prices fell 3.3% to just above $68 per barrel on Monday after China’s economic stimulus measures fell short of expectations, heightening concerns about demand in the world’s second-largest oil consumer.
Market sentiment was further strained by Donald Trump’s US election win and his pro-drilling stance.
A strong US dollar increased oil costs for other currency holders, pressuring prices.
Weak Chinese economic data stoked deflation fears, worsening demand outlooks.
Projected supply growth from non-OPEC producers and OPEC+’s ongoing challenges in managing production levels to stabilize the market added to investor unease. Traders are closely monitoring the 2025 global demand outlook, potential impacts of Trump’s policies, and rising geopolitical tensions between Israel and Iran.
Reports due this week from OPEC, the U.S. Energy Information Administration, and the International Energy Agency are expected to provide valuable insights
GOLD/SILVER:
– Gold and silver prices are sharply lower, with gold strongly down and hitting a four-week low, in midday U.S. trading Monday. A surge in the U.S. dollar index to a 4.5-month high, solidly lower crude oil prices and rising U.S. Treasury yields are all bearish outside-market elements working against the metals markets today. Also featured is technical selling pressure and more profit taking from the shorter-term futures traders. Metals traders are also concerned about less demand coming out of China.
Technically, December gold bulls have lost the overall near-term technical advantage for the first time in months. Bears are now working on a price downtrend on the daily bar chart. This suggests a near-term market top is in place. Bulls’ next upside price objective is to produce a close above solid resistance at $2,700.00. Bears’ next near-term downside price objective is pushing futures prices below solid technical support at $2,550.00. First resistance is seen at $2,650.00 and then at $2,675.00. First support is seen at the October low of $2,618.80 and then at $2,600.00
– Silver underperformed Gold since election
BONDS:
CLOSED DUE TO VETERNS DAY
YIELD CHANGE
US 1-MO:
US 6-MO:
US 1-YR:
US 5-YR:
US 10-YR:
US 30-YR:
TWO’s/TENS
CRYPTO
– Bitcoin is up over 25% since the election results
– Crypto-linked stocks, which have been rallying following Trump’s win on expectations of more pro-crypto legislation, also traded higher, namely Coinbase (10.8%), MicroStrategy (10.8%) and Robinhood (7.5%)
– https://www.zerohedge.com/crypto/bitcoin-could-be-one-upgrade-away-overtaking-ethereum-defi
Good article worth your time
– ETF Vols jumped massively today
KEEP DOING WHATS WORKING, STOP WHAT ISNT
Best of luck out there.
Let the market come to you
Post of the day:
https://www.youtube.com/watch?v=CDb4h4xT-u8
https://www.youtube.com/shorts/DQhsaSnOrBI
Song of the day:
https://www.youtube.com/watch?v=oyvSSQpSfMc
https://www.youtube.com/watch?v=wscB1ckO_Ew
Joke of the Day:
https://www.youtube.com/watch?v=pPxZeigk-hw
House of the day:
https://www.youtube.com/watch?v=4ZFd6L7_8y4
(Seize all assets of Duke and Duke enterprises)
I can be contacted should anyone have any questions, input at [email protected] during US hours of EST 9am until 5pm
We do our best to provide correct information and pricing. We do not accept liability for error. All pricing listed has been taken care and checked but no liability assumed in error. As ALWAYS, any advice given is general in nature and is not suited to each traders individual: situation/time-frame/goals/financial circumstance/risk profile/loss mechanics etc We offer ideas for trades from time to time, we accept no liability for results, they are to be traded on your discretion and responsibility.
