Saturday, December 30, 2023

Wall Street Breakfast: Survey In Review

One more special edition of Wall Street Breakfast is on tap this week. "Survey Mondays" have been quite popular in 2023, garnering thousands of responses to each poll. In today's newsletter, we'll recap the top ten surveys of the year. Make way for 2024 and Happy New Year!
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One more special edition of Wall Street Breakfast is on tap this week. "Survey Mondays" have been quite popular in 2023, garnering thousands of responses to each poll. In today's newsletter, we'll recap the top ten surveys of the year.

Make way for 2024 and Happy New Year!

Do unions play a positive or negative role in the private sector?

Positive 35.4%
Negative 54.8%
Neither 5.9%
Not sure 3.9%
     
What is the most realistic way to immediately address the U.S. budget deficit?

Steep spending cuts across the board 52.5%
Reforms to government insurance programs 7.1%
New types of taxes on consumption 7.2%
Changing the tax code/limiting deductions 23.8%
Raising the retirement age 6.6%
No need to worry about the federal deficit 2.9%

     
What best describes your ideal working environment?

Totally remote 33.8%
Commuting 1-2 days per week 31.7%
Going in 3-4 days per week 20.6%
In the office/workplace full-time 13.9%
     
Decades into talking about climate change, will the world eventually agree to an energy transition model?

Yes 25.4%
No 74.6%
     
Should publishers be required to use a disclaimer when using artificial intelligence?

Yes 93.4%
No 6.6%
     
Which of the following do you currently think is the best long-term investment (holding for at least a year)?

Stocks and mutual funds 50.6%
Treasuries and other bonds 16.5%
Real estate and REITs 10.8%
Gold, oil or other commodities 11.4%
Money market funds or savings accounts 10.8%
     
Should the U.S. use an emergency procedure like invoking the 14th Amendment, the trillion-dollar coin, or issuing debt with coupons above current yields to avoid a catastrophic default?

Yes (Desperate times call for desperate measures) 27.9%
No (It's a legislative mechanism to check spending) 56%
Not sure (Let's see how the negotiations play out) 16.1%
     
Is higher education worth the investment in the current labor market?

Vital to upward mobility (never know the future) 14.3%
Strongly depends on the degree (not always) 58.8%
Rounds out an education (new ways of thinking) 9.2%
Networking potential (getting a foot in the door) 4.5%
No need these days (too many costs and debt) 13.3%
     
Are there times when the short-selling of stocks should be banned?

Yes 56.1%
No 43.9%
     
Is it fair to forgive student loans?

Yes, it's the right thing to do (no different than other subsidies or grants) 11.9%
No, must be held responsible for economic choices (read the fine print) 88.1%
     

Market Movement For 2023:

U.S. Indices
Dow +13.5% to 37,690. S&P 500 +24.2% to 4,770. Nasdaq +43.3% to 15,011. Russell 2000 +14.9% to 2,024. CBOE Volatility Index -42.6% to 12.45.

S&P 500 Sectors
Consumer Staples -2.2%. Utilities -10.2%. Financials +9.9%. Telecom +54.4%. Healthcare +0.3%. Industrials +16.%. Information Technology +56.4%. Materials +10.2%. Energy -4.8%. Consumer Discretionary +41.%. Real Estate +8.3%.

World Indices
London +3.8% to 7,733. France +16.5% to 7,543. Germany +20.3% to 16,752. Japan +28.2% to 33,464. China -3.7% to 2,975. Hong Kong -13.9% to 17,023. India +18.7% to 72,240.

Commodities and Bonds
Crude Oil WTI -11.4% to $71.32/bbl. Gold +13.5% to $2,062.8/oz. Natural Gas -44.2% to 2.497. Ten-Year Bond Yield -0.2 bps to 3.87.

Forex and Cryptos
EUR/USD +3.13%. USD/JPY +7.57%. GBP/USD +5.25%. Bitcoin +153.8%. Litecoin +4.4%. Ethereum +92.5%. XRP +83.4%.

Top S&P 500 Gainers
NVIDIA (NVDA) +239%. Meta Platforms (META) +194%. Royal Caribbean Cruises (RCL) +162%. Builders FirstSource (BLDR) +157%. Uber Technologies (UBER) +149%.

Top S&P 500 Losers
Enphase Energy (ENPH) -50%. FMC (FMC) -49%. Dollar General (DG) -45%. Moderna (MRNA) -45%. Pfizer (PFE) -44%.

Note: WSB won't be published with markets closed on Monday, but tune back in on Tuesday.

Seeking Alpha's Wall Street Breakfast Podcast
Seeking Alpha's Wall Street Breakfast podcast brings you all the news you need to know for your market day. Released by 8:00 AM ET each morning, it is a quick listen that you can put on as you get ready to start your working day.
 

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