The DC Today - Tuesday, January 30, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 30 January 2024
⏱️ 6 minutes
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Summary
Today's Post - https://bahnsen.co/3HB81Xw
A pretty boring day in markets with the Dow up and Nasdaq down.
A lot of eyes are on what is coming next in the Middle East after the horrific murder of American lives over the weekend. Oil prices so far are not responding with any panic.
Microsoft and Google each release results after hours today. They are big companies, you may have heard.
Earnings growth of +4.9% (year-over-year) is expected this earnings season from an expectation of +2.7% y/y revenue growth. We are barely at 25% of companies having reported so far so we will do a better assessment of how this is tracking after each of the next two weeks.
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. |
| 0:14.0 | Hello and welcome to the Tuesday edition of the DC Today. We are down to just one day left in the month of January. I wanted to give you the |
| 0:23.0 | market recap of today, Tuesday, January 30th, and talk about a couple other quick issues. So we'll |
| 0:30.0 | go through the market today first because the Dow was up 134 points, but the NASDAQ was down |
| 0:37.3 | 0.76%. So you had the Dow up over a quarter of a point. |
| 0:42.6 | The NASDAQ down three quarters of a percent. S&P was down just a tiny bit. So a little bit of a |
| 0:48.0 | mixed bag. And you had energy was the second best performing sector and financials, the best performing sector, both up over |
| 0:57.2 | 1%. And then real estate, the worst performing sector, down 1%. So an interesting mixed bag. |
| 1:05.0 | But the bond market is still rallying. The 10-year was down another five basis points today. The yield down to 4.04% in the bond |
| 1:16.1 | market. So really interesting set of circumstances. I think a lot of eyes continue to be on the |
| 1:22.6 | Middle East. What exactly the response to the attack on American lives was over the weekend. Oil prices in the |
| 1:29.4 | meantime are not overreacting. Look, WTI Crudes at 77.88. So it was up 1.4% today, but you're not |
| 1:38.6 | seeing an $83, 86, $90 kind of spike. It's just been very, very moderate between 75 and 79 since the |
| 1:47.6 | incident of the weekend. The after hours action today and into the evening and of course |
| 1:54.4 | tomorrow will be interesting because you do have both Microsoft and Google reporting this afternoon |
| 1:59.6 | and other big tech companies still report this week. |
| 2:03.3 | So that's more likely to be a market mover. |
| 2:05.4 | But so far, you've only had 25% of S&P companies report. |
| 2:11.3 | We're tracking for earnings to be up on the quarter, 4.9% year over year, with revenue up on the quarter, 2.7% year over year. |
| 2:22.7 | But with only 25% reporting, those expectations can change very quickly. And not only do you |
| 2:28.9 | still have 75% of the S&P 500 to report, but you particularly have the biggest companies in this magnificent seven. |
| 2:37.6 | I think it's six of the seven still to report, although two of them reporting this afternoon. |
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