Market Vibes

Economic Overview —

• All three major U.S. indexes (DOW, NASDAQ, and S&P) ended 2023 with considerable growth.
• But, we’re only six trading days into the new year, and Wall Street is already off to a bit of a rocky start with the S&P 500 declining 0.7%, dragged down in large part by sharp declines in shares of big tech and plunging shares of Boeing.
• Housing affordability metrics are at a 40-year low amid the surge in mortgage rates.
• Even with the recent bout of high inflation, the strong labor market has pushed wages for frontline workers higher than they've been since the 1970s.

Business Insider

Auto Zone —

• Data shows the auto market is holding strong and demand is high.
• Consumers are increasingly surprised by the rising prices of new cars, but this hasn't deterred them from purchasing.
  

Morning Consult

• Car Segments decreased -0.49% last week.
• All nine segments decreased, but only one segment reported a decline of more than 1%.
• Prestige luxury cars saw the largest decline, dropping -1.90% (an increase in depreciation from the prior week’s decline of -0.81%).
  

Black Book

• Truck Segments decreased -0.77% last week (compared to the depreciation seen the prior week of -0.80%).
• All 13 segments declined last week, with five of the 13 reporting declines exceeding 1%.
• The Sub-Compact Luxury Crossover segment had the largest decline at -1.66%. This marks the eighth consecutive week that this segment has reported a greater than 1% decline.
  

Black Book