A Big Nothing Burger, Technical Weeds & The U6 Unemployment Report
It’s another engaging episode with the Money Wise guys and they begin with a rapid-fire market recap for last week, which amounted to a big Nothing Burger overall. The Dow was up about two points – essentially flat – and the S&P 500 and the NASDAQ were up 0.2% and 0.7% respectively. YTD the Dow is up 9.4%, the S&P 500 is up 19.9%, and the NASDAQ is up 37.6%. The guys dig into the equally weighted stats that show that tech stocks have been the biggest driving engine for this year, and they discuss the remarkable recovery we’ve seen for the NASDAQ, though it’s still 11% off the all-time high from late 2021. There are 14 trading days left this year – will we hit any all-time highs? The guys discuss the technical charts, the ongoing market cha-cha, and the November jobs and unemployment numbers, including the U6 Unemployment Report, which is hovering near its all-time low.
What is the U6 Unemployment Report?
Since the Money Wise guys take time to talk about the U6 Unemployment Report in this episode, let’s dig into what it is. Published by the Bureau of Labor Statistics, the U6 Unemployment Report shows the total unemployed, plus all marginally attached workers, plus total employed part-time for economic reasons, as a percent of the civilian labor force plus all marginally attached workers. The U6 Unemployment Report is considered an alternative measure of labor underutilization and it is made available on a monthly basis. Learn more about the U6 Unemployment Report here.
In the second hour, the Money Wise guys share What Wall Street Won’t Tell You. You don’t want to miss the details! Tune in for the full discussion on your favorite podcast provider or at davidsoncap.com, where you can also learn more about the Money Wise guys or take advantage of a portfolio review and analysis with Davidson Capital Management.