The DC Today - Monday, March 4, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 4 March 2024
⏱️ 18 minutes
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Summary
Today's Post - https://bahnsen.co/4c33Ql2
Manufacturing contracted in February again, coming in at 47.8 in the latest ISM measurement (below 50 is contraction, above 50 expansion). Manufacturing has contracted every month since November 2022.
Export orders picked up a bit but the other categories were all negative. However, 8 out of 18 sectors saw expansion this month where last month is was only four.
For what it is worth, the states with the highest population growth since 2019 (by %) are Idaho (+10%), Utah (+7%), Montana (+6%), Texas (+5%), and Florida (+5%). Right behind those leaders all tied at +4% is Tennessee, Alabama, Georgia, and South Carolina. The only states to have negative population growth are California (-1%), West Virginia, Louisiana, and Mississippi.
Services remain below their pre-COVID share of total consumer spending.
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. |
| 0:14.0 | Hello and welcome to the Monday edition of the DC Today. I am thrilled to be with you here from our studio in our New York City office, and it has been a fun weekend task putting together today's DC today. I think we're going to cover all of the normal subjects. I may have skipped one, but there's, you know, a handful of things to go through across the economic data, the Fed, housing, oil, |
| 0:41.3 | all of the normal fund stuff. |
| 0:43.3 | So I'm going to try to get through all of it. |
| 0:45.3 | Why don't we just start with markets? |
| 0:48.3 | Because you did have the Dow futures last night were down 40. |
| 0:53.3 | When I was up early this morning, they were down 60. |
| 0:57.0 | And then the market worsened throughout the pre-market hours and did open down 200. |
| 1:03.7 | And it kind of opened at its low point of the day. |
| 1:06.5 | And then that's not to say it rallied way higher, but it did zig and zag throughout the day, although after getting all the way back to even, it still closed down 97 points. |
| 1:17.6 | So there was a fair amount of intraday volatility today, but when all of a sudden done, the Dow closed down just a quarter of percent. |
| 1:24.6 | The S&P was only down half of that, 12 basis points, but the NASDAQ was down |
| 1:29.9 | 41 basis points. I don't think that there was any particularly newsworthy event that drove any of it. |
| 1:37.1 | Probably the big headlines of the day were first one that was incredibly expected. The Supreme |
| 1:43.0 | Court unanimously throughout the idea of Colorado |
| 1:47.6 | and then subsequently Maine and Illinois, some states that were looking at not having President |
| 1:53.3 | Trump be eligible to be on the ballot. The Supreme Court by a nine to nothing vote overruled that. |
| 1:59.6 | That happened today in the new cycle, but it wasn't market moving and it was pretty well |
| 2:04.0 | expected, I believe. |
| 2:06.1 | Another news bit that is more market impacting that did seem to weigh on a couple of the big |
| 2:12.6 | tech companies, but again, it came out before the market opened, was that the European Union has assessed a almost $2 billion fine on Apple related to some of its bundling with its streaming music streaming services. |
| 2:27.3 | So, you know, you had some of that taking place within the NASDAQ side, but really not a whole lot to report. |
... |
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