The Pentagon said Sunday a U.S. warship and multiple commercial vessels are under attack in the Red Sea.
‘We’re aware of reports regarding attacks on the USS Carney and commercial vessels in the Red Sea and will provide information as it becomes available,’ the Pentagon said, according to the Associated Press.” Meanwhile, "Gulf of Tonkin" is trending on X in the US. Source: Fox News, www.zerohedge.com
This month will go down as one of the best ever for the S&P 500
Did you know that after previous months that gained >8% continued strong returns were common? Higher a year later 90% of the time and up 15.8% on average. Source: Ryan Detrick
The S&P 500 gained 8.9% in November, the 18th biggest monthly advance since 1950. $SPX
Source: Charlie Bilello
Global Stocks post a gain of almost 9% during November, their best month in 3 years
Source: Barchart
November was truly a month of "bad news" being "good news" for stocks...
'Hard' data (red line) hits a 14-month low as S&P 500 surge back near record highs. Source: Bloomberg, www.zerohedge.com
Cathie Wood's Ark innovation ETF $ARKK just had its best month in HISTORY relative to the Nasdaq 100
Source: Barchart, Bloomberg
The Fed's preferred measure of inflation (Core PCE) moved down to 3.5% in October, the lowest since April 2021
The Fed Funds Rate is now 1.8% above Core PCE, the most restrictive monetary policy we've seen since 2007. Source: Charlie Bilello
As highlighted by The Kobeissi Letter, the US housing market is having its historical moment
The US housing market is having its historical moment. Indeed, Real home prices in the US are currently almost 10% MORE expensive than they were in 2008. In fact, real home prices are now 80% ABOVE the 130-year historical average, according to Reventure. This means that even on an inflation adjusted basis, home prices have never been more expensive. Meanwhile, housing supply is 40% below the historical average. All while mortgage demand is at its lowest since 1994 and the median homebuyer now has a $3000/month payment. Source: The Kobeissi Letter, Reventure
