Market Update - Thursday 2 March 2023
REMEMBER THIS DAY! Cloud Software Propels The Dow Upwards Despite The 10Yr Mooning!
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Even Grandpa Needs The Future Sometimes
In a move that will amuse growth folks no end, but irritate the dividend growth orthodoxy in equal measure, Dow futures are up right now. The other indices are down. And the reason? Blowout single-stock earnings from none other than Salesforce ( CRM 0.00%↑ ) which is in fact a Dow name. That said, founder Benioff leans more Boomer than Zoomer so perhaps this is in fact appropriate.
One last thing before we get to our usual charts. We're hosting a webinar tonight at 5pm Eastern which you may wish to join - this isn't an Inner Circle service webinar but you're most welcome to attend. The topic is 'How To Understand The Fed' and it will be presented by Yimin Xu, a former pro rates trader who writes our macro analysis. You can register at this link if you'd like to join. If you miss it, we'll share the recording with you after the fact.
OK. Onto the charts - as usual for our paying members only. Want to step up to a pay membership? You can do so right here.