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The Dividend Cafe

Daily Covid and Markets - Thursday July 16

The Dividend Cafe

The Dividend Cafe - The Bahnsen Group

Estate Planning, Dividend Growth Investing, Monetary Policy, Business, Wealth Management, Macro Economics, Retirement Planning, Investing

4.9572 Ratings

🗓️ 16 July 2020

⏱️ 22 minutes

🧾️ Download transcript

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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