The DC Today - Wednesday October 19, 2022
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 19 October 2022
⏱️ 14 minutes
🧾️ Download transcript
Summary
Welcome to DC Today where I, Trevor Cummings, will be your guest host again on this fine Wednesday. Please join me for the video or podcast (links below), as there is quite a bit to cover and discuss today. David Bahnsen will be back on Friday with his normally scheduled program – Dividend Cafe
Dow: -98.54 (-0.32%) S&P: -0.66% Nasdaq: -0.85% 10-Year Treasury Yield: 4.131% (+13.3 basis points) Top-performing sector: Energy (+2.94%) Bottom-performing sector: Real Estate (-2.56%) WTI Crude Oil: $85.63/barrel (+3.39%) Key Economic Point of the Day:
Today we saw the published data for new housing starts and building permits
- Housing starts came in at 1.4mm on an expectation of 1.47mm
- Down 8.1% seasonally adjusted and down 7.7% year-over-year in September
- Looking at the attribution, we see new homes fell 4.7% and new apartment construction fell 13.1%
Building permits came in at 1.56mm on an expectation of 1.5mm
- Rising 1.4% in the month of September
- Permits for new homes fell 3.1%, with apartment construction rising 8.2%
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. |
| 0:10.0 | Hello and welcome to DC today. One thing you might notice about today that might be a little bit different than yesterday, I am more nasally than normal. |
| 0:20.0 | I feel like I haven't gotten |
| 0:21.1 | sick in my entire life and then my son started preschool. So you'll have to bear with me today. |
| 0:26.3 | But markets were pretty plain today. We had pretty hot markets the last two days. I always like |
| 0:32.2 | to say markets have a tendency to take two or three steps forward and one step backwards as they |
| 0:37.4 | calibrate and try to |
| 0:38.5 | figure out prices. Markets were down today. So you had the Dow down 98 points. That's down 32 |
| 0:44.7 | basis points. S&P was down 66 basis points. NASDAQ down 85 basis points. The 10-year treasury. Interesting |
| 0:51.8 | stat there. Again, above 4% at 4.13%. |
| 0:56.5 | That's up 13 basis points. |
| 0:58.8 | Tapping on rates we haven't seen in 15 years. |
| 1:02.6 | Same thing with the two-year. |
| 1:04.2 | Top-performing sector today. |
| 1:05.6 | There was dispersion today. |
| 1:08.2 | You had energy up 2.94% while real estate was down 2.56%. Again, that's a high |
| 1:16.0 | level dispersion when your top sector is up nearly 3% and your bottom sector is nearly down 3%. I will |
| 1:22.2 | add that energy was the only positive sector on the day. Again, as you might assume, crude oil was up $85.63 a barrel. |
| 1:31.1 | That's up 3.39%. Like I said, markets two steps forward, one step backwards. |
| 1:37.4 | Earnings continue to be strong. We had some strong reports these last few days. |
| 1:41.9 | One thing that was catching a lot of attention of the news has |
| 1:45.1 | become pretty normal these days. Every Fed president becomes famous. So the Minneapolis Fed president |
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