The stock market closed higher on Wednesday, as two of America’s leading companies Nike (NKE) and Fedex reported strong earnings, coupled with better-than-expected consumer confidence data in December.
Overall, both S&P 500 and NASDAQ grew 1.5% to 3,878 and 10,709, respectively.
Tweet of the Day
HATZIUS, on @CNBC:
"Real household disposable income is now growing. It was falling sharply early in 2022, and now it's growing, in part, because of lower headline inflation. .. That's a very important point .. if wages are slowing more slowly than prices."
(cc: @conorsen)
— Carl Quintanilla (@carlquintanilla) December 21, 2022
Rent price indexes continue to fall through November.
Redfin rental price index was down another 1.2% in November, and likely has continued to fall here in December.
Milwaukee had the biggest price decline M/M at 13.8%.#inflation #CPI $SPX $SPY #Macro pic.twitter.com/N0HNz8kYSh
— Seth Golden (@SethCL) December 21, 2022
Chart of the Day
Our chart of the day is the one-year chart of MongoDB (MDB) as of December 14, 2022, when the stock was at $211.
The stock looks like one of the best speculative stocks around. However, the Bear Market isn’t giving speculative stocks any love.
David Sharek, Founder of The School of Hard Stocks, expects MongoDB to be a new market leader once the next Bull Market begins.
MDB is on the radar for the Aggressive Growth Portfolio.
