SVET Reports
Thursday's Markets Update (November 9, 2023)
On Thursday, Nasdaq and the Dow fell as Treasury yields rose and Fed Chair Powell signaled more tightening. Disney soared on strong earnings, while Tesla sank on valuation concerns and a sell rating. Meanwhile, BTC closed a trading day above $36K — the first time since May 2022 — and ETH shot above $2K on rumors about BlackRock's Ethereum ETF application.
Details
New unemployment claims fell slightly (to 217K) on the week ending November 9th, but continuing claims rose to the highest level since April, suggesting that the unemployed are having greater difficulties finding positions within companies. This points out to that the job market is softening, but it remains tight.