The DC Today - Thursday, January 26, 2023
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 26 January 2023
⏱️ 11 minutes
🧾️ Download transcript
Summary
Dow: +204.45 (+0.61%) S&P: +1.10% Nasdaq: +1.76% 10-Year Treasury Yield: 3.497% (+3 basis points) Top-performing sector: Energy (+3.32%) Bottom-performing sector: Consumer Staples (-0.28%) WTI Crude Oil: $81.04/barrel (+0.89%) Key Economic Point of the Day:
Weekly jobless claims again reflected the strength of the labor markets with initial claims coming in at 186,000 versus a median forecast of 205,000 A reminder, all of this coming on the heels of daily reports of layoffs from some of the top employers in the country The 2022 4th quarter GDP number came in at 2.9%, slightly above the median forecast of 2.8%, and buoyed by continued solid consumer spending
Durable goods orders came in at 5.6% compared to a 2.4% forecast, but a quick look behind the curtain shows that much of this was lifted by a 116% spike in aircraft orders ex-transportation new orders actually declined U.S. new home sales edged out the forecasted number, reporting 616,000 on a median forecast of 615,000, and marking a three-month trend of rising new home sales Note, the year-over-year figure here is still down nearly 27%, completely driven by higher borrowing.
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. |
| 0:14.3 | Hello, I'm Trevor Cummings, and I will be with you for DC Today. Today. This is actually a fun day to be doing DC today because markets were quite |
| 0:22.0 | chipper. Obviously we know that markets are bipolar. Sometimes Mr. Markets really happy. Sometimes |
| 0:27.7 | he's really sad. Today was a chipper day. The headline number we got today was fourth quarter |
| 0:32.7 | GDP. That's fourth quarter 2022. Came in at 2.9% compared to a target at 2.8%. |
| 0:39.0 | And every market participant is wondering, are we going to go into a recession? |
| 0:43.7 | Will it be a soft landing? |
| 0:45.2 | And what numbers are important to me? |
| 0:47.8 | So first, let me run down markets and then we'll talk about some of that economic data. |
| 0:51.7 | Dow Jones was up about 200 points. |
| 0:53.9 | To be specific, 204 points, |
| 0:55.7 | and that is 0.61% increase. S&P 500 was up 1.1% and the NASDAQ was up 1.76%. Important thing to |
| 1:05.3 | remember about the NASDAQ, Tesla is a huge attribution. It's the fifth or six biggest holding |
| 1:10.7 | in the NASDAQ, |
| 1:12.0 | and it had quite impressive results today backed |
| 1:14.8 | by their earnings report. |
| 1:16.0 | Ten-year treasury really likes to sit around three and a half percent |
| 1:19.2 | right now. |
| 1:19.6 | So we have a 3.497 percent, 10-year treasury that was up three |
| 1:23.8 | basis points. |
| 1:25.0 | Leading sector for the day was the energy sector up 3.32%. Some of the larger |
| 1:30.8 | producers had some positive announcements yesterday about buybacks, dividend increases, and the such. |
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