Covid and Markets - Thursday September 17
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 17 September 2020
⏱️ 14 minutes
🔗️ Recording | Apple Podcasts | RSS
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Summary
The market dropped 130 points today (Dow). Futures were down 300 when I woke up this morning and the market opened down 300, then actually went up on the day, then fell over 300 again, then zigged and zagged into the close before closing down 130 (-0.47%). The Nasdaq was down 1.25%, and it remains off right around 10% from its high.
The weekly jobless claims came in at 860,000, as expected, but continuing claims dropped by almost a million, landing at 12.6 million (now half of that 25 million high we had early on).
There is a lot today – from Housing to the Fed to policy to oil – the way I like these missives to go – but starting off with all the COVID news that is fit to print …
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 the Dividend Cafe of the Bonson Group. |
| 0:21.2 | Kind of a lot of action today, a little less on the COVID side, more on the market side, |
| 0:25.1 | but I'll try to give you everything you came here to get. |
| 0:27.8 | The Dow was down 130 points today. |
| 0:31.5 | Futures were down about 300 in the middle of the night when I woke up, |
| 0:36.1 | and then the market opened 300 points down |
| 0:39.8 | about six hours later so the future is kind of projected where we would go but then the market |
| 0:47.1 | rallied all the way up and then it zigged and zagged throughout the day and into the close before it ended up closing |
| 0:56.2 | 130. So it's kind of a crazy chart of the ups and downs of the market today at COVIDomarkets.com. |
| 1:04.4 | But the NASDAQ was actually down 1.25% on the day, a little more than double with the Dow is down. |
| 1:13.6 | And this does maintain still that kind of down 10% position that the NASDAQ finds itself in. |
| 1:21.0 | So we continue to have kind of a volatile market, although really high concentration of that volatility in technology and much less downside on the month in some of the non-tech sectors? |
| 1:33.3 | Now, the weekly jobless claims came in this morning. They're the lowest level that they've been on a weekly number since March and the COVID kind of lockdown beginning, although it's still a very high number, but |
| 1:45.6 | 860,000 on the weekly job was claims. However, the continuing claims dropped by almost a million, |
| 1:53.0 | landing at 12.6 million. So that's about half of the 25 million, give or take, that we had been. So, you know, kind of a mixed |
| 2:06.0 | bag, I guess net net, probably a little bit of good news, but still a precarious situation. |
| 2:12.8 | On the COVID front, first of all, just kind of some more cultural phenomena that I happen to |
| 2:17.2 | and think is very |
| 2:17.6 | pertinent economically and medically, but some of you may not agree. The Big Ten football conference, |
| 2:25.1 | which, of course, had canceled fall football. Revered course yesterday is now authorized football |
| 2:30.7 | to take place. I believe starting off on the 24th of October, |
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