The DC Today - Wednesday, October 18, 2023
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 18 October 2023
⏱️ 9 minutes
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Summary
Today's Post - https://bahnsen.co/48YpBB6
This is Trevor Cummings filling in for David Bahnsen. David is in the midst of day three of his annual TBG Money Manager Due Diligence trip. As mentioned, he will be back with you for the weekly Dividend Cafe on Friday.
Markets were a bit more active today than yesterday. We also had a rebound in housing starts, another L for Jordan’s ballot push, and Biden seeking a monumental aid package for Israel.
And off we go…
Links mentioned in this episode: TheDCToday.com DividendCafe.com TheBahnsenGroup.com
Transcript
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| 0:00.0 | Welcome to the Dividing Cafe weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life. |
| 0:12.5 | Hello, welcome to D.C. today. I'm Trevor Cummings again, filling in for David Bonson. I was here yesterday. I will be here tomorrow as he is with Kenny Molina |
| 0:22.5 | and Brian Zytel in New York, their annual TBG money manager due diligence trip. As I explained |
| 0:29.2 | yesterday, great time of the year for them to meet with managers, download everything that's going |
| 0:33.8 | on, understand what's going on economically and how that applies to our portfolio, |
| 0:39.6 | our philosophy, and how we manage money for clients. So great time of year for them to collect all |
| 0:45.2 | that information, synthesize that, and then you will be getting a lot of that over the next |
| 0:50.4 | couple months in DC Today, Dividend Cafe, and some special white paper that David |
| 0:55.7 | will do at the beginning of the year. So markets today were a lot more active than they were |
| 1:00.6 | yesterday. As you might remember, markets were fairly flat yesterday. We also had housing starts, |
| 1:06.3 | building permits. We had round two of Jim Jordan making his run for Speaker. Joe Biden is in Israel. |
| 1:14.0 | We'll talk about that a little bit. And then the 10-year treasury hit a 16-year high. |
| 1:18.6 | And that has a huge impact on markets, real estate, and much more. So as far as today, like I said, |
| 1:25.2 | markets were flat yesterday, but the Dow was down 332 points today. |
| 1:29.0 | It's almost down about 1%. S&P was down 1.34% and the NASDAQ was down 1.62%. |
| 1:36.1 | The top performing sector today was energy. There's actually only two sectors that were positive today, |
| 1:42.1 | two sectors that we happen to love here at the Bonsor Group, |
| 1:44.6 | and that was energy and consumer staples. Energy was up nearly 1%. And then the bottom performing |
| 1:50.4 | sector was materials, which was down 2.58%. When you look at housing starts, there's a positive and |
| 1:57.6 | a negative, I guess you can say. So housing starts were pacing at about 1.36 million. |
| 2:03.8 | That's positive when you compare what it looked like in August. |
| 2:07.1 | We had a pretty steep drop in August, but still kind of below the desired pace. |
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