The DC Today - Monday, March 11, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 11 March 2024
⏱️ 17 minutes
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Summary
Today's Post - https://bahnsen.co/43bfaYw
- Futures opened last night pretty flat and slightly improved into the evening, but this morning, futures pointed to a down -130 point open pre-market.
- The market opened down 100 points and got down -230 points before rebounding about +300 from there.
- The Dow closed up 47 points (+0.12%), with the S&P 500 down -0.11% and the Nasdaq down -0.41%.
Links mentioned in this episode: TheDCToday.com DividendCafe.com TheBahnsenGroup.com
Transcript
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| 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. |
| 0:13.1 | Hello and welcome to another edition of the DC Today, the Monday edition. We are in for some fun here. There is a lot to go through, and I think it's just kind of a coincidence that the Monday |
| 0:28.8 | edition ended up today with a lot on public policy, a lot of central bank updates. |
| 0:34.6 | You have the jobs report Friday, so there's a lot in the economic data. |
| 0:39.3 | But, you know, really there is just sort of need to kind of cover all these things. And if it |
| 0:46.6 | piled on, then that's too bad. Let's get into it. First of all, just today in the market, |
| 0:51.9 | it was one of those days where market started off down |
| 0:56.2 | and then did kind of come back. And most of that comeback was in the first hour and a half of the day. |
| 1:02.4 | Futures were pretty flattish last night. And then it ended up being down about 130 very, very |
| 1:08.2 | early this morning. And the market opened down 100. And it got down as much as I think |
| 1:13.3 | 220 or 230 at one point and then closed up almost 50 points. So you had a nearly 300 point comeback |
| 1:21.1 | within the market. Now, the S&P closed down 11 basis points, so barely down. The NASDAQ was down 40 basis |
| 1:28.6 | points, not much. But the worst performing sector of the day was industrials, which was down |
| 1:33.7 | half a percent, but you had both materials and energy up over 1%. So it was a little mixed |
| 1:41.2 | bag, but not too bad. The bond market was pretty flat. The tenure was up |
| 1:45.5 | one basis point. Oil was real flat today, closed at 78 plus change. So not a lot of market |
| 1:56.0 | movement throughout the start and ending points, but some intraday volatility for sure. I have a chart in |
| 2:04.2 | the DC Today.com where one of our themes on the year in the white paper we wrote at the beginning |
| 2:10.3 | of the year was that there was going to be a broadening out of market leadership, that even if the |
| 2:16.9 | market was down on the year, if the market was down on the year, if the market |
| 2:18.9 | was up on the year, either way, you weren't going to see all of the movement being held and |
| 2:24.1 | concentrated at the top big cap names and the so-called Magnificent Seven. And one of the things we do |
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