Euclid Investment Advisory Blog

Review & Analysis at Close December 12, 2022


Later Breaking NEWS-U.S. Inflation Eased to 7.1% in November
Consumer prices rose last month at the slowest 12-month pace since December 2021, closing out a year in which inflation hit the highest level in four decades. Stock Futures Surge: DJIA 2.4%, NASDAQ 100 +4.1%, S&P 500 +3.1. U.S. stock futures rose after the latest inflation data came in lower than expected, suggesting the Federal Reserve could slow the pace of interest-rate increases as consumer prices come under control.             



The Dow Jones Industrial Average and Europe continue Bullish status; S&P 500, Russell 2000, NASDAQ Comp, NASDAQ 100, MSCI China, and 7-10 year US Treasury Note are all on Bull alert.  Weekly Market Breadth indicators continue improvement in Bull Alert status, with Nasdaq 100, NYSE, and S&P 500 leading Nasdaq Composite.

Sector Trends
Bull Alert: Technology, Real Estate; Bullish: Materials, Financials, Industrials, Staples, Utilities, Health Care.  Bear Alert: Energy; Bearish: Communication Services, Consumer Discretionary.        

Fixed Income
The10 year US Treasury Yield closed today at 3.611% well off its October 21 peak of 4.333%. The yield's rise continues to show a loss of upward momentum. The 2-year US Treasury Yield closed today at 4.39%, down from November 7 peak of 4.71%. The 2-year yield's rate of rise is slowing.  The 10-2 year Yield Curve remains inverted, with the closing spread narrowing slightly to -0.78.    

The Australian Dollar and the Yen are Bull alert and weakened slightly while the Euro and British Pound are Bullish and strengthening, all vs. US dollar. The US Dollar Index continues Bearish, closing at 105.10; down from the September 26 peak of 114.75.                

Gold's trend continues Bullish; Base Metals and Copper continue Bullish; West Texas Light Crude continues Bearish downtrend

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