Daily Covid and Markets - Thursday July 16
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 16 July 2020
⏱️ 22 minutes
🔗️ Recording | Apple Podcasts | RSS
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Summary
The market missed out on its first five consecutive days of price increase by dropping 135 points today …
Initial jobless claims came in at 1.3 million for the week, a tad higher than 1.25 million expected. Continuing claims dropped to 17.3 million, a bigger drop than expected and now down 30% from the 25 million high of March. Retail sales were up +7.5% in June vs. +5% expected.
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 brought to you by the Dividing Cafe. |
| 0:19.0 | Today's Thursday and we are here at the Bonson Group to once again |
| 0:25.4 | debrief and download on all the things in today's market action and the COVID health pandemic. |
| 0:34.4 | The market was facing the possibility of five consecutive days of an increase, but sure enough, |
| 0:42.5 | and probably you could argue kind of expectantly, missed out on that opportunity. |
| 0:48.7 | The Dow ended up being down 135 points, so not a big move |
| 0:56.7 | at one point though I want to look at this |
| 1:00.8 | at one point we were down close to 300 points and so it made |
| 1:06.1 | back more than half of that downside in the final one hour of trading. |
| 1:14.2 | But again, a small move down after what's been, you know, |
| 1:18.6 | obviously a pretty big run here. |
| 1:22.2 | And as I've pointed out day by day and written about ad nauseum and so forth, |
| 1:27.2 | this is perhaps more noteworthy just because it has |
| 1:31.1 | come with an ongoing contrast to what is being presented in the health data. |
| 1:39.3 | And indeed, not only where I think there's a lot of exaggeration and sensationalism, but also where |
| 1:46.4 | there's just plain, you know, bad news. I mean, all things being equal, I think everybody |
| 1:50.4 | would really prefer to see the case is declining, not increasing, and even if the growth |
| 1:55.9 | is flatlining, the fact of the matter is that you have, you know, plenty of pockets in the country where |
| 2:01.8 | hospitals are more crowded than others and I see units may be. And I think that you can |
| 2:07.9 | definitely look at it if you're being kind of scientific and statistical and analytical, |
| 2:13.0 | which is really my job by providing analysis is obviously to be analytical and be encouraged that the |
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