The DC Today - Monday, September 18, 2023
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 18 September 2023
⏱️ 12 minutes
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Summary
Today's Post - https://bahnsen.co/44YIrFd
Nothing like the Monday DCT with a great deal of stuff for you today about housing, policy, the economy, markets, and more!
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. |
| 0:12.7 | Well, hello and welcome to the Monday edition of DC Today. You know the Monday edition, the special, old school, long form. There's a lot in it today. I'm going to try to go through as much as I can. A lot of market action today is not covered because it was an extremely boring day in the markets. In fact, all three indices, Dow, S&P, and NASDAQ ended up basically flat on the day. |
| 0:39.6 | How flat were they so flat that I didn't even bother to put the numbers in the DC today? |
| 0:45.0 | I just put that they were flat because they were all literally within a couple basis points. |
| 0:50.4 | The Dow had opened down a bit, it went up a little, and then just kind of leveled out right around where it opened on the day. |
| 0:58.0 | And similar action with S&P and NASDAQ. Now within that, the energy sector was up about 0.7%. |
| 1:06.0 | Consumer discretionary was down about 1%. But again, as far as the whole indexes go, not a lot to say in the |
| 1:15.0 | markets today. If you go to the DC today, by the way, in the kind of opening paragraphs, there is |
| 1:21.9 | a regurgitation of the Dividend Cafe from Friday, just the links to the written Dividendon Cafe, the video, the podcast. |
| 1:30.4 | And then because I was on Varney and Fox Business this morning before the market opened and I was on CNBC after the market closed, we have links to those appearances. |
| 1:41.8 | There's actually even a little quote a link to the Wall Street Journal had a big article yesterday in markets and I was quoted in the article. |
| 1:49.5 | It's just one quote, but we've provided that link for your reading pleasure. |
| 1:54.5 | So with a flat market behind us, a couple other little market nuggets and then we'll get into some news stories, public policy, the Fed, all the good things. |
| 2:04.6 | 53% of tech companies, I mean, basically just right around half and actually only 40% of semiconductor companies, less than half, are above their 200-day moving average. |
| 2:16.6 | So you have definitely seen a weakening in the breadth of the technology sector, which had really been |
| 2:22.3 | carrying a lot of the S&P and obviously the NASDAQ most of the year. |
| 2:26.3 | We'll see where that goes because the top side, the top positions in the indexes, the largest size, have actually hung in there, but the internal |
| 2:36.2 | weakness up and down has definitely intensified. |
| 2:41.1 | The bond market, not a lot to report today, the 10-year closed down, 1.7 basis points in |
| 2:47.2 | its yield, down to 4.30, so bonds were up a little today. And then oil prices were up |
| 2:55.4 | $1,000, closing it basically just shy of $91 a barrel. So a lot of strengthening in energy. |
| 3:05.9 | The auto workers strike is the big story that I think is most market |
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