Bespoke’s Consumer Pulse Report — November 2023

Nov 7, 2023

Bespoke’s Consumer Pulse Report is an analysis of a huge consumer survey that we run each month.  Our goal with this survey is to track trends across the economic and financial landscape in the US.  Using the results from our proprietary monthly survey, we dissect and analyze all of the data and publish the Consumer Pulse Report, which we sell access to on a subscription basis.  Sign up for a 30-day free trial to our Bespoke Consumer Pulse subscription service.  With a trial, you’ll get coverage of consumer electronics, social media, streaming media, retail, autos, and much more.  The report also has numerous proprietary US economic data points that are extremely timely and useful for investors.

We’ve just released our most recent monthly report to Pulse subscribers, and it’s definitely worth the read if you’re curious about the health of the consumer in the current market environment.  Start a 30-day free trial for a full breakdown of all of our proprietary Pulse economic indicators.

A Boomerang Bounce for US Stocks

Nov 3, 2023

It has been a great week for the US stock market with the S&P 500 ETF (SPY) up 5.9%.  Unfortunately, that only gets the market back to where it was trading just over two weeks ago on October 17th!  That’s because SPY fell 5.9% from 10/17 through last Friday (10/27).

Right now SPY is stuck in a short-term downtrend after making a series of lower highs and lower lows since the end of July.  From a technical perspective, SPY needs to make a “higher high” for things to look more positive.  Today, the ETF got stuck as it approached its highs from mid-October, so it’s not going to be easy.

The rally this week has been broad based, but the best performing stocks have been the names that did the worst in the 10 days prior.  Below we’ve broken the large-cap Russell 1,000 into deciles (10 groups of 100 stocks each) based on stock performance during the market’s decline from 10/17 to 10/27 (last Friday).  As shown, the decile of the worst performing stocks during the 10/17-10/27 pullback is averaging the strongest gains during this week’s rally.

Looking at individual stocks, below are the 30 best performing names this week in the Russell 1,000.  At the top of the list is Roku (ROKU), which is up more than 50%!  Another eight stocks are up more than 25% this week, including names like DoorDash (DASH), DraftKings (DKNG), Pinterest (PINS), Paramount (PARA), and Palantir (PLTR).  Other noteworthy stocks up big this week include Wayfair (W), Block (SQ), Avis (CAR), Warner Bros. (WBD), Coinbase (COIN), TopBuild (BLD), and even Peloton (PTON).

We’ve got much more coverage of this week’s rally and it’s underlying strength in our weekly Bespoke Report newsletter.  The Bespoke Report is available with a 30-day trial to Bespoke Premium, which you can sign up for quickly and easily here.