The DC Today - Wednesday, November 15, 2023
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 15 November 2023
⏱️ 8 minutes
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Summary
Today's Post - https://bahnsen.co/46gNK3n
With over 90% of companies now having reported Q3 earnings, we stand at a 6.3% growth rate and well above Octobers estimate of just 1.6%. Just as I mentioned on CNBC World Monday night, profit growth is exceeding revenue growth as companies with pricing power that raised prices the past year due to inflation are showing margin expansion as some of those input prices ease. Also, for all you wondering, it really was just CPI and not my global television debut that fueled the market rally the following day.
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. |
| 0:13.2 | Hello and welcome to D.C. today. Brian Sightel with you here today. I'm in our New York office studio and it's been a great week here in the city. |
| 0:22.5 | Did a CNBC hit on Monday night, which was fun and exhilarating and really good. |
| 0:27.1 | And I have some market news for you today to go through. I am recording this a little bit earlier |
| 0:32.1 | than I normally would. So the market hasn't fully closed yet, but I've got plenty to go through |
| 0:36.9 | with you anyways. |
| 0:37.8 | And if the numbers shift slightly the next hour or so, so be it. |
| 0:41.7 | But we had big rally yesterday, obviously, with CPI coming in far lower than expected and markets rallied big. |
| 0:47.4 | The advanced decline ratio yesterday was 14 to 1. |
| 0:50.8 | And so that's that's as big as we've seen in about a year. So that's good. The bond market rallied |
| 0:56.5 | really hard yesterday as well. Rates came in a lot. So today we had PPI, which is the producer |
| 1:01.8 | price index. So what wholesale goods inflation is versus the consumer side come in far lower |
| 1:07.8 | than expected as well. So you had CPI lower yesterday. Now you have PPI the next day, |
| 1:12.5 | far lower. And it was something like it came in at a negative 0.5 percent, which is basically the |
| 1:19.9 | biggest decline since we've had since the peak of the pandemic. So this is a big decline in inflation |
| 1:24.8 | the last two days. It was expected to be positive point one. So negative point five |
| 1:28.7 | versus positive point one as expected. And so stock sort of followed suit. The market was up, |
| 1:34.3 | at least when I typed this, 170 points. It had been floating around 120 or so most of the day. |
| 1:39.1 | The futures were up about a 120 as well. I frankly thought we may give some of that back |
| 1:43.5 | as interest rates moved higher a |
| 1:45.1 | little on the day, which is a little counterintuitive. If you had lower inflation numbers two days |
| 1:48.9 | in a row, why rates would move a little higher today. The 10 year was up like 10 basis points today. |
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