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• The NASDAQ and S&P 500 close lower for the fourth consecutive day, while the Dow industrial average falls for the third day in a row. 
• The main indices all finished down today, with the NASDAQ index once again leading the way to the bottom. 
• All three indices posted weekly losses. 
• S&P and NASDAQ close lower for the fourth consecutive day. 
• Dow industrial average closes lower for the third consecutive day. 
• S&P closes 3% from its record high. 
• Dow industrial average and S&P both reached new intraday highs this week before selling off
• NASDAQ closes 8% from its all-time high. 
• Russell 2000 closes 11% from its all-time high

• The NASDAQ saw its worst week since February. 
• The final figures are as follows: 
• The Dow industrial average fell -4.9 points, or -0.01%, to 36231.60. 
• The S&P 500 index slid 19.0 points, or 0.40 percent, to 4677.04. 
• The NASDAQ index dropped 144.95 points, or 0.96 percent, to 14935.91. 
• The Russell 2000 index plummeted -26.56 points, or -1.2 percent, to 2179.81. 
• The Dow industrial average declined -0.31 percent during the trading week. 
• The S&P 500 index declined -1.85%. 
• The NASDAQ index fell by -4.53 percent. 
• The Russell 2000 dropped -3.11 percent.

US November consumer credit

 Prior was +16.9B (revised to +16.0B) against +$19.5B projected | US November consumer credit. Prior was +16.9B (revised to +16.0B). 

Non-revolving +19.8B • Revolving +19.8B 

There is a high demand for credit.

• The US currency continues to fall on all fronts.  
• This isn’t the type of price movement you’d expect.
• There isn’t much to like about today’s US dollar selloff.  
• For one thing, it’s unusual to see the dollar fall across the board. In general, if there is a risk-on or risk-off day, an anomaly like USD/JPY will occur. Today, however, the dollar is down 25 pips versus the yen and is trading at fresh lows of 115.56. 

• Today’s phenomenon is most likely flow drive, but it’s also a microcosm of the ‘dollar grin.’ The notion is that the dollar performs better at extremes. When there is fear, the dollar strengthens due to its safe haven position.
• When the economy is booming, such as during a pandemic, the dollar increases as well. It softens in the middle. 
• It is best argued that the dollar appreciates during times of crisis, weakens when the global economy is robust, and gains again when the US excels. During the pandemic, we swiftly moved from the ‘crisis’ to the ‘outperformance’ side. We shall soon see the rest of the globe catch up. 
• We will continue to see this type of movement on days like today. Stocks are down, investors are wary about US technology, and volatility is low.
• Normally, a rise in interest rates would benefit the dollar, but other reasons are outweighing it, in part because bund yields are on the verge of turning positive.

Biden remarks car pricing are exorbitant President’s. 

The US economy as a whole is stronger than it was before the epidemic Layoffs have reached their lowest level in decades. 

The United States created more employment in a single year than any other President in history. Will keep working on the competition 

Putting the attention on inflation is hazardous politically, but you have to think that the Fed will gain the upper hand, which is their job. This will allow him to claim a triumph later on. 

At the same time, it’s as if we’re waging a losing war with gas costs, and for some reason, people are hypersensitive to gas prices. 

They’re severe in terms of automobile costs. The only answer is to increase output, but they won’t be able to do so without the chips.