Daily Covid and Markets - Thursday July 9
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 9 July 2020
⏱️ 13 minutes
🔗️ Recording | Apple Podcasts | RSS
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Summary
I’ll save you the play by play of what happened with futures last night and this morning, but it was pretty boring. And the markets moved higher a bit pre-market when the jobs numbers came out (see below). But what moved markets lower during trading today seems to be (and I say “seems” because it really doesn’t seem to be much of a market moving event to me, but it was perfectly time to the release of the news) the announcement that the Supreme Court is allowing the New York DA to get Trump’s tax returns. Anyways, the market went down over 500 points, but closed down 350, and actually the S&P was down less than half what the Dow was, and the Nasdaq was modestly up today. So it was not a normal day.
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. |
| 0:12.6 | Hello and welcome to today's COVID and markets missive brought to you by the Dividend Cafe podcast of the Bonson Group. |
| 0:20.2 | This is David Bonson. |
| 0:22.4 | And I'm going to get right into it here. |
| 0:24.3 | Kind of a weird day in the markets. |
| 0:25.8 | Let me get that stuff out of the way quick. |
| 0:27.5 | And then we're going to spend most of our time on the health data. |
| 0:30.7 | And I'm recording at about 515 Eastern. |
| 0:34.8 | And so I'm still a good 45 minutes away from getting some of the final data today. |
| 0:41.3 | But that will all be updated in the COVID-Omarkets.com, but just based on our schedule today and so forth, |
| 0:48.3 | we need to record a little earlier. |
| 0:50.0 | So there's still a lot of information I want to share. |
| 0:53.0 | But listen, as far as the market, it was kind of flat this morning pre-market. |
| 0:58.0 | It went up a bit when the jobs data came out. |
| 1:02.2 | And then we were, oh, I don't know, at least an hour or so into trading. |
| 1:09.3 | And markets were flat up a little, just kind of a boring day, |
| 1:13.7 | you know, boring night, boring morning. |
| 1:16.3 | And then I have to say it was related to it. |
| 1:19.6 | It just doesn't make any sense to me. |
| 1:21.2 | I really don't have any idea why it would be much of a market event, but the market |
| 1:26.2 | did drop really within minutes after the announcement |
| 1:29.5 | came to the Supreme Court had ruled that President Trump did need to turn over his tax returns |
... |
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