The DC Today - Thursday, January 19, 2023
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 19 January 2023
⏱️ 10 minutes
🧾️ Download transcript
Summary
I, Trevor Cummings, am honored to be filling in for David Bahnsen today. I hope you will join me for the video and/or podcast, as I provide you with the daily happenings around markets. Please don’t miss out on the “Ask David” section below, as we’ve fielded this same or similar question quite a few times recently.
Without further ado, off we go…
Dow: -252.26(-0.76%) S&P: -0.76% Nasdaq: -0.96% 10-Year Treasury Yield: 3.395% (+2 basis points) Top-performing sector: Energy (+1.11%) Bottom-performing sector: Industrials (-2.08%) WTI Crude Oil: $80.47/barrel (+1.25%)
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. |
| 0:14.8 | Hello and welcome to the DC Today. As you might recognize, I am not David Bonson. I'm Trevor Cummings filling in for David Bonson. |
| 0:21.8 | He had quite a busy day, which I actually hesitate to even say that because I know the life of David Bonson well, and every day is quite a busy day. |
| 0:30.3 | So I will be filling in for him today. A few tidbits on in what's going on in markets, give you an update on what happened, and then I really |
| 0:37.6 | want to encourage you to check out the Ask David section. We'll speak to that a little bit on the |
| 0:42.0 | video here and podcast. So as far as what went on today, the Dow Jones was down 0.76% on the day. |
| 0:49.1 | S&P matched that, so exactly the same, down 0.76. The NASDAQ was down down.96%. Not a lot of movement in the 10-year |
| 0:57.3 | treasury went up about two basis points. hovering around 3.4%. I think it's important to anchor on kind of |
| 1:04.3 | where that peak was at the 4.4%. So you have a softer 10-year treasury. Why is that important |
| 1:10.8 | to you? The bond market is probably the |
| 1:14.1 | best place to get your point of view on where interest rates are going and from that where inflation is going. |
| 1:21.1 | So if, in fact, and we don't know, the 10-year treasury did peak and it's retreating to a more |
| 1:26.3 | natural level, that would make one |
| 1:29.3 | believe that every print we get on CPI and everything going forward is going to be softer |
| 1:34.7 | inflation data. So you can juxtapose that against what you're reading in the media, |
| 1:39.3 | but again, the 10-year treasury sits at about 3.4%. As far as today, top performing sector was energy. |
| 1:46.2 | It was up 1.11% that was supported by oil. |
| 1:50.2 | That was up 1.25% putting oil at $80.47 a barrel. |
| 1:55.7 | Bottom performing sector down about 2% was industrials. |
| 2:00.9 | One thing that I'll point out, and David spoke to it yesterday, and I think it's important, |
| 2:05.2 | and it can be overlooked. |
| 2:07.0 | We spent a long time over the last year or so, and hopefully it makes sense to you, |
... |
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