![]() ![]() The Index of Consumer Sentiment “fell a modest 2.5 index points, or 4%, from October,” wrote Surveys of Consumers Director Joanne Hsu. And expectations for inflation in the next five to 10 years rose to 3.2%, the highest since 2011, from 3% in October. The yield on 10-year Treasurys jumped 4 basis points to about 4.43% Wednesday after the University of Michigan’s Consumer Sentiment report showed long-term inflation expectations are at their highest in over a decade.Ĭonsumers expect inflation to be running at a rate of 4.5% a year from now, well above October’s rate of 3.2%. Walmart ( WMT) shares fell 0.8% ahead of Black Friday. ![]() Walgreens Boots Alliance ( WBA) shares dropped 1.4%, its third consecutive losing session.Ĭaterpillar ( CAT) shares fell 1.2% after competitor Deere & Co.’s ( DE) 2024 profit forecast fell short of analyst estimates as high inflation and interest rates cut into demand for industrial equipment. Microsoft chief executive Satya Nadella praised the changes to the OpenAI board that accompanied the decision.Īpple ( AAPL) shares gained 0.4% despite a report that a regional National Labor Relations Board office registered a complaint on charges the iPhone maker excluded unionized employees from enhanced benefits last year. Microsoft ( MSFT) shares gained 1.3% after OpenAI reinstated Sam Altman as CEO of the Microsoft-backed startup. Home Depot ( HD) gained 1.3%, putting its one-month return at 9%. Nike ( NKE) shares moved up 1.3% for its third straight positive day. The Dow Jones Industrial Average rose 184 points, or about 0.5%, extending the index’s November rally and putting it on track to notch its best month of the year next week.ģM ( MMM) shares rose 1.5% to end a four-session slide. The Nasdaq lost 0.6%, while the S&P 500 and Dow slipped 0.2%. Stocks fell yesterday on worrying earnings reports from several major retailers. ![]() A Bloomberg report suggested the delay was caused by Saudi Arabia's dissatisfaction with some OPEC members' compliance with voluntary production cuts. Oil prices fell as much as 5% Wednesday morning after OPEC+ delayed a meeting scheduled for this weekend to Nov. OpenAI said Taylor would serve as chair of the new three-person board that will also include existing board member, Adam D'Angelo. And he's returning with two new board members: former Treasury Secretary Larry Summers and former Salesforce CEO Bret Taylor. Sam Altman was reinstated as CEO of OpenAI just five days after the board voted to oust him. The Dow Jones Industrial Average and the Nasdaq gained about 0.5%, while the S&P 500 climbed 0.4%. Markets are closed tomorrow for Thanksgiving and will reopen Friday for a half day. The major stock indexes rose Wednesday, boosted by tech mega caps as oil prices slumped on a delayed oil cartel meeting. 24, 2023): For today's live markets coverage, see here. Still, for exposure to the Dowa concentrated, universally-cited basket of household namesDIA is a great choice.Update (Nov. UITs must also hold every stock in the index at all times, which can tie the PM`s hands. The fund`s UIT structure is shared by a few other long-lived ETFs (like SPY), with the most notable effects being a slight cash drag since stock dividends received in between the ETF`s distributions can`t be reinvested as is typically the case. DIA is extremely liquid, with huge assets and a long track record. Still, DIA tends to move with the broader market day-to-day, and some may prefer its typically (slightly) lower beta. Stocks are price-weighted, not cap-weighted, which can produce major sector realignments when multiple holdings change, as occurred in September 2013. The fund`s tiny portfolio, arbitrary selection, and antiquated weighting produce significant sector biases relative to the market, and cover only a fraction of the large-cap space, typically represented by hundreds of names. Despite the name recognition that comes from tracking the Dow and its own popularity, DIA is not the ideal ETF for investors who want broad-based exposure to US large-caps. ![]()
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