Covid and Markets - Thursday August 27
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 27 August 2020
⏱️ 21 minutes
🔗️ Recording | Apple Podcasts | RSS
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Summary
The market rose 160 points today, perhaps from a mix of reasons (Fed talk, hurricane control, and COVID testing news – see below). The S&P was up just a tad, and the Nasdaq was actually down on the day.
I do feel like today’s missive is a meaty one, so I hope you will enjoy reading it as much as I enjoyed writing it. I confess, this “every other day” missive schedule has been much more manageable for yours truly! Okay, let’s go around the horn …
COVID Health Information • Confirmed new cases are now down over 37% from the July peak of a month ago, and are down over 12% on daily average basis from last week. The case decline is rapid, and while I am of the opinion it must be hospitalizations and case severity that drives public policy, not merely the existence of cases, the actual decline in cases adds ammo to the arguments for greater freedom of movement and activity (an economic plus).
• The only states not seeing rapid decline in hospitalizations are Alaska, Hawaii, Montana, and West Virginia – more or less the overall national trend and data reality where there is a real COVID presence is in overwhelmingly declining COVID hospitalizations.
• And even apart from the dropping hospitalizations, and dropping cases, the hospitalizations-per-confirmed cases has dropped substantially from the spring levels, unambiguously supporting the notion that the recent infections affected a less vulnerable and more healthy group, and lending support to the idea many epidemiologists have proposed that the virus is losing potency.
Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com
Transcript
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| 0:00.0 | Welcome to the Dividing Cafe weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life. |
| 0:12.5 | Hello and welcome to today's COVID and markets podcast brought to you by Dividend Cafe of the Bonson Group. |
| 0:18.9 | Today is Thursday, August the 27th, |
| 0:22.6 | and we are going to walk through the whole deal, |
| 0:26.6 | the market today, big updates in the Federal Reserve, |
| 0:30.6 | the housing market, policy front, energy sector, |
| 0:34.6 | and of course, all of the up-to-date COVID health information, |
| 0:42.3 | particularly the more America-centric impact of what's going on with coronavirus. |
| 0:49.2 | As far as the market today, the Dow rose 160 points. |
| 0:52.6 | It fell off about 100 points in the final hour. It had been up |
| 0:56.1 | over 250. But the S&P was not up much and the NASDAQ was actually down on the day. So it was one of those |
| 1:05.9 | days where the names that have been out of favor were doing better. and then the big tech stuff was not doing as well, |
| 1:13.6 | and the overall market was just kind of choppy, |
| 1:18.3 | and nevertheless, the Dow itself had a pretty good day. |
| 1:24.2 | In terms of where we are on the COVID front, you know, for me personally, I'm really enjoying now doing this every other day or whatever the new schedule is versus every day. |
| 1:37.9 | And one of the reasons is not only is it obviously a bit of a relief to just the massive amount of reading and writing and data |
| 1:46.1 | mining and so forth I've been doing for four or five months. But also it is the fact that |
| 1:53.1 | there's less COVID information now, less COVID relevant news. And I can't stand writing with a mandate to kind of go find news or created or |
| 2:04.5 | make up information that will sound relevant or interesting and I think it's one of the great |
| 2:09.2 | flaws of the 24-hour news cycle and particularly in financial media that there's not 24 hours |
| 2:14.3 | of information and so you have to go create create it. It's not really their fault. |
| 2:18.6 | It's the necessity of filling in that time. And then you end up often filling it with things |
... |
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