The DC Today - Thursday, March 2, 2023
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 2 March 2023
⏱️ 8 minutes
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Summary
Today's Post - https://bahnsen.co/3ZCSvkX
So the market followed its robust January returns with a -4% drop in the Dow for February and a -2.5% drop in the S&P 500, and the bond market dropped -2.7% on the month (though almost every index we track across stock and bond markets was still positive on the year through February, just much less so than previously). A few comments on today’s action here
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. |
| 0:14.7 | Well, hello and welcome to another DC today, the Thursday edition. We're going to bring DC today to a close for the week |
| 0:23.5 | and then come to you with a dividend cafe tomorrow, which I'm pretty excited about. The market |
| 0:31.7 | did some weird stuff today. So first of all, let me just tell you, February closed with the Dow |
| 0:37.2 | down 4%, the S&P down 2.5%. |
| 0:40.5 | And the bond market was down 2.7% for the month. |
| 0:46.5 | So basically, every index that we track more or less was down in February. |
| 0:52.8 | And every index that we track is still up on the year, but much less so. |
| 0:59.0 | So January was up, more than February was down, whether you're talking about bonds, |
| 1:05.0 | S&P, NASDAQ, Dow, emerging markets, all these different things. |
| 1:10.0 | And yet gave up a significant part of the |
| 1:13.5 | return in the month of February, as you probably know. Now, today, the S&P was down a fair amount. |
| 1:23.0 | NASDAQ was down a fair amount. The Dow was not, but it was at least when the market first opened, |
| 1:29.1 | as I was sitting on set at Fox News this morning, Fox Business with Stuart Barnage show, |
| 1:36.0 | 29 of the 30 stocks and the Dow were down, but the Dow was up because one stock, a company called |
| 1:42.4 | Salesforce, had announced earnings and issues |
| 1:48.1 | yesterday that caused it to be up so much that it was making the whole Dow go up. So it was kind of a |
| 1:53.7 | weird deal. And then even in the S&P and NASDAQ, which have a very large weighting of Tesla, |
| 2:00.4 | which was down a lot, it was sort of |
| 2:02.7 | throwing it off. So it's very rare you see a day like that where one particular company is |
| 2:08.5 | distorting a whole index, but it's even more rare that it's happening twice with different companies |
| 2:15.0 | and in different directions, one to the upside, one to the |
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