The DC Today - Monday, January 30, 2023
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 30 January 2023
⏱️ 13 minutes
🧾️ Download transcript
Summary
Futures opened last night down -50 and were down -85 into the evening. This morning markets pointed to a down -265 open pre-market. Futures would improve in the next three hours before the opening. The market opened down just -80 points and then went positive before then steadily declining throughout the day. The Dow closed down -261 points (0.77%), with the S&P 500 down -1.30% and the Nasdaq down -1.96%.
January looks to be the greatest month for bond market auctions in history, with every single auction printing below-market yields. More demand than supply across the yield curve; each auction of new treasury debt means one thing – these buyers don’t believe these yields will last. Only 29% of companies have reported Q4 results so far, so it is really too early, still, but thus far, we are tracking for year-over-year revenue growth of +4.2% and year-over-year earnings contraction of -2.9%. Full-year earnings estimates started the year at $225 on the S&P 500 and are now sitting at $220. The ten-year bond yield closed today at 3.54%, up two basis points on the day. Top-performing sector for the day: Consumer Staples (+0.07%) Bottom-performing sector for the day: Energy (-2.29%) Earnings in energy currently make up over 12% of the S&P’s earnings, but Energy is currently only 5% of the S&P 500 by weighting. That 7% differential between earnings contribution and weighting is the highest it has ever been.
Links mentioned in this episode: [TheDCToday.com] https://bahnsen.co/3JqiqaH DividendCafe.com TheBahnsenGroup.com
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to the DC Today, your daily market synopsis of the Dividing Cafe, brought to you every Monday through Thursday to bring you up-to-date information and perspective on financial markets. |
| 0:14.3 | Well, hello and welcome to the Monday edition of DC Today. I am back in Newport Beach and we have quite a few things to chat |
| 0:23.7 | with you about. Let me get today's market action out of the way and then I'll just sort of go through |
| 0:27.6 | some of the other stuff that's in the long form written Monday edition of DC today. Markets |
| 0:34.7 | ended up today down 261 points on the Dow. |
| 0:38.3 | Futures last night were down about 50 when they first opened, then we're down 80 or 85 when I went to bed, |
| 0:47.3 | and they were down 265 pre-market, which is exactly where they closed down today. But then those futures throughout the |
| 0:57.4 | next three hours or so after I woke up before the market opened were improving. And then |
| 1:04.8 | the market opened down just about 80 points. And then it reversed and it actually went up |
| 1:09.3 | within the first hour or so. |
| 1:11.6 | And then at some point it just sort of began a steady decline. |
| 1:16.6 | So that's just on the Dow side. |
| 1:18.6 | The S&P and the NASDAQ never really were above water. |
| 1:21.6 | And the S&P closed today down 1.3 and the NASDAQ closed down almost 2%. So it was a little bit bigger of a hit to some |
| 1:30.6 | of those things, which, you know, is a familiar story from last year's down days, but it hasn't |
| 1:36.1 | been the story here in January where there's been a pretty decent risk on for some of the lower |
| 1:41.6 | quality indices. Let me just cover quickly the bond market. |
| 1:47.0 | Today the 10-year was basically flat. |
| 1:49.0 | It was up two basis points on the day. |
| 1:51.0 | The 10-year bond yield is sitting at 2.54%. |
| 1:55.0 | Only one sector was positive in equities. |
| 1:58.0 | That was consumer staples, and it was up a whopping seven basis |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from The Dividend Cafe - The Bahnsen Group, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of The Dividend Cafe - The Bahnsen Group and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.