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The Dividend Cafe

The DC Today - Tuesday, January 10, 2023

The Dividend Cafe

The Dividend Cafe - The Bahnsen Group

Monetary Policy, Business, Retirement Planning, Estate Planning, Dividend Growth Investing, Wealth Management, Macro Economics, Investing

4.9572 Ratings

🗓️ 10 January 2023

⏱️ 11 minutes

🧾️ Download transcript

Summary

A little early morning volatility but then a small rally on the day in markets. Read below, listen, watch – the choice is yours!

MARKET ACTION

Dow: +186 points (+0.56%) S&P: 0.70% Nasdaq: 1.01% 10-Year Treasury Yield: 3.62% (+10 basis points) Top-performing sector: Communication Svcs (+1.29%) and Consumer Discretionary (+1.26%) Bottom-performing sector: Consumer Staples (-0.16%) WTI Crude Oil: $74.66/barrel (flat) Key Economic Points of the Day:

Used Car Prices dropped -15% year-over-year in 2022 (from where they ended 2021), the largest single-year drop on record. This came, of course, off of large increases in 2021. The Fannie Mae Home Purchase Sentiment Index was up in December versus November but basically right at the all-time low set in October. 21% of people surveyed said they believed it to be a good time to buy. The NFIB Small Business Optimism Index dropped to 89.8 from 91.9 in December, the lowest since June of last year.

Links mentioned in this episode: TheDCToday.com DividendCafe.com TheBahnsenGroup.com

Transcript

Click on a timestamp to play from that location

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.

0:14.5

Well, hello and welcome to the Tuesday, D.C. today. It was a odd day. It was a good day in markets, I suppose. I mean,

0:24.0

stocks were up. It was, let's see, futures were down 150 pretty much all morning. And then we

0:32.7

opened up 50 points. And so without really a particular news catalyst or anything. So that was probably your

0:39.8

first clue that was going to be an odd day. And then if you look in the DC Today.com, I have the

0:45.2

chart of the daily market action. We kind of, you know, moved around a bit and then just sort of

0:51.2

rallied throughout the second half of the day, but not a huge rally, but modest.

0:56.7

The final numbers ended up being, I know the Dow was up 100 and 86 points, which was, you know,

1:02.5

half a percentage point.

1:03.6

The S&P was up point seven and NASDAQ was up exactly 1%.

1:08.0

And this was a day which the bond market, the yield was up 10 basis points.

1:13.5

So you had bonds come back a tiny bit there. But still, again, those yields hanging in there in the

1:19.1

mid-3s, well off of the mid-fours level that we had seen at the 10-year, further out on the

1:26.5

curve.

1:33.7

Communication services was the leading sector, which explains the NASDAQ having a good day.

1:37.2

The communications were up at 1.29%. And then right behind it was consumer discretionary, 1.26%.

1:41.2

So you've had a little leadership here from some of the laggards. Some of the names

1:46.3

that are much more beaten up, have been doing pretty well. And then technically we didn't have

1:51.8

every 11 out of 11 sectors up, only 10 out of 11. So it's still a pretty broad rally,

1:58.5

but consumer staples were down 0.16%. Oil was flat on the day.

2:04.3

In terms of a few kind of substantive things I want to go through, used car prices.

2:09.1

The Mannheim used car index came out.

...

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