The DC Today - Tuesday, October 18, 2022

This is Trevor Cummings joining you as your guest host on DC Today.  You can find my weekly commentary at www.thoughtsonmoney.com.  Also, please join me for the DC Today video and podcast – see below. Market Action Dow: +341.67 (1.13%) S&P: 1.16%% Nasdaq: 0.9% 10-Year Treasury Yield: 3.994% (+2 basis points) Top-performing sector: Industrials (+2.36%) Bottom-performing sector: Communication Services (+0.54%) WTI Crude Oil: $83.22/barrel (-2.6%) Key Economic Point of the Day: • Industrial production in September rose 0.4% which was a surprise to the upside – estimates were 0.1%.  Additionally, August was revised slightly to the upside, as well; a revision from -0.2% to -0.1%. • The National Association of Home Builders’ (NAHB) monthly confidence fell 8 points to 38 in October, making 10 consecutive months of decline.  Note, the index was at 80 last October and this 10-month decline tops the record of consecutive declining months set in ’06/’08. Links mentioned in this episode: TheDCToday.com TheBahnsenGroup.com