STOCK MARKET WATCH -- Tuesday, 14 March 2023

[Tansy_Gold]

STOCK MARKET WATCH, Tuesday, 14 March 2023

Previous SMW:
SMW for 13 March 2023




AT THE CLOSING BELL ON 13 March 2023


Dow Jones 31,819.14 -90.50 (0.28%)
S&P 500 3,855.76 -5.83 (0.15%)
Nasdaq 11,188.84 +49.95 (0.45%)

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Market Conditions During Trading Hours:

Google Finance
MarketWatch
Bloomberg
Stocktwits

(click on links for latest updates)

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Currencies:













Gold & Silver:






Petroleum:

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DU Economics Group Contributor Megathreads:

Progree's Economic Statistics (with links!)
mahatmakanejeeves' Rail Safety Megathread
mahatmakanejeeves' Oil Train Safety Megathread

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Quote for the Day:

Broadly speaking, a mode of production for Marx means the combination of certain forces of production with certain relations of production. A force of production means any instrument by which we go to work on the world in order to reproduce our material life. The idea covers everything that promotes human mastery or control over Nature for productive purposes. Computers are a productive force if they play a part in material production as a whole, rather than just being used for chatting to serial killers disguised as friendly strangers.

Terry Eagleton. Why Marx Was Right. Yale University Press. © 2011.

This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.

[progree]

1. S&P 500 down 19.6% from 1/3/22 all-time high, very close to the Munich! Munich! bear line

It's also given up almost all of its 2023 gains, being only 0.4% higher than it was at the end of 2022.

S&P 500 closes:

4797 - Jan 3, 2022 (all time high)

3856 - Today's (3/13) close, down 19.6% from all-time high

3838 - The 20% down line that is the definition of a bear market, easily remembered from the year 1938 when Neville Chamberlain declared in Munich, "peace for our time". Two 38's in a row is of course Munich Munich

3840 - 2022's closing value. Today's 3856 close is just 0.4% above that.

Just a note of reality -- one might think from the Dow Jones 6-month graph above that lately we've only had a minor downslide. Well, the Dow is very unrepresentative on the U.S. stocks that people collectively own, and is price-weighted which is beyond silly.

The S&P 500, on the other hand, is 75-85% of the total U.S. stock market by capitalization, is capitalization - weighted, and is very close to the performance of the Total U.S. Stock Market Index (which is the best indicator of the value of the U.S. stocks that people own), but the S&P 500 is much more popular and data on that with dividends goes back much further than that, so I end up defaulting to the S&P 500 and for consistency with my many other postings. Anyway, the performances of the S&P 500 and the total U.S. Stock Market are very close to each other).

(On the bear market -- that 20% down line (closing value) was first reached June 13, 2022 and we've been below the 20% line and above it a number of times since then. Officially we've been in a bear market and remain there until a new all-time high is reached. Well, I'm not sure there is an "official" definition of any of this, but a strong consensus from everything I read.)

[bucolic_frolic]

2. Regional banks

Last edited Mon Mar 13, 2023, 07:51 PM - Edit history (1)

https://finviz.com/quote.ashx?t=KEY&ty=c&ta=1&p=d

Walmart

https://www.stockconsultant.com/consultnow/basicplus.cgi?symbol=wmt