CWS Market Review – December 1, 2023

“I think that a life properly lived is just learn, learn, learn all the time.” – Charlie Munger

November was a very good month for stocks. The S&P 500 gained 8.9% during the month. That’s the seventh-best monthly gain in the last 30 years. Our Buy List was up 11.8%. Perhaps the Santa Claus Rally got off to an early start this year.

Not only were stocks up, but so were bonds. November saw the best month for Treasuries since the 1980s. Some are calling this “the everything rally.” All asset classes, it seems, are gaining ground. This is the benefit of beating back inflation.

In this week’s issue, I’ll highlight the very good earnings report from Intuit. The TurboTax people beat earnings by 25%, and the shares broke out to a new 52-week high.

I’ll also preview next week’s earnings report from Science Applications International. The company has been crushing its earnings estimates this year. I’m expecting another round of solid results.

I’ll also update you on some of our Buy List stocks. We had a good month. Shares of FICO gained an average of $11.51 per day for all of November. But first, let’s look at this week’s economic news.