The Dividend Cafe Monday - June 24, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 24 June 2024
⏱️ 15 minutes
🧾️ Download transcript
Summary
Monday Market Rundown
This episode of the Monday Dividend Cafe, recorded in Grand Rapids, Michigan, covers market updates including top performing sectors and notable changes in technology and cryptocurrencies. David discusses the concept of 'TBG day' where multiple key sectors align positively. The episode also provides an overview of recent AI investment trends, citing a survey showing a slowdown in spending due to various concerns. Additionally, David shares political insights that may affect markets, updates on used car prices, existing home sales data, and predictions regarding Federal Reserve rate cuts. The episode concludes with positive notes on the oil sector and encouragements to access more content on the Dividend Cafe website.
00:00 Welcome to Monday Dividend Cafe 00:45 Market Rundown and TBG Day 03:45 AI Investment Insights 07:53 Political Landscape and Market Implications 11:27 Economic Indicators and Predictions 13:23 Conclusion and Final Thoughts
Links mentioned in this episode: 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 | Well, hello and welcome to the Monday Dividendon Cafe from Grand Rapids, Michigan. |
| 0:18.0 | I actually spoke at an event on the eastern part of Michigan here a couple |
| 0:24.4 | hours ago and then got back to Grand Rapids where I am for a number of client meetings and speeches |
| 0:31.4 | and events over the next couple of days. And we just had the market closed moments ago, and I want to give you the normal Monday |
| 0:40.0 | rundown. |
| 0:40.9 | I was on a plane from Atlanta to Grand Rapids yesterday, Sunday, and so I was able to do a lot of |
| 0:47.5 | things with today's Dividing Cafe that I love doing over the weekend. |
| 0:52.2 | I think you'll find there's a lot of info. I'm going to try to cover |
| 0:55.3 | all of it here in the podcast and video. One of the things I want to do just to talk about today's |
| 1:02.0 | market action is today is what we like to call in our investment committee at TBG Day. You have these |
| 1:08.1 | every now and then. In 2022, we had them all the time. But a lot of the things that |
| 1:14.2 | are aligned with what we do were all up today on the same day. And you'll often have one of them |
| 1:22.1 | in a given day. But today, energy was up huge. It was the top performing sector up 2.75% on the day. Financials were up nicely. |
| 1:32.4 | Utilities and consumer staples, which are more dividend-oriented sectors, were up big. |
| 1:37.8 | And then a lot of things that we tend to be less prone to. Big cap growth got hammered today. |
| 1:43.0 | The NASDAQ was down over 1%. The worst performing |
| 1:46.2 | sector was technology, which was down over 2%. So you're not going to see very many days where there's |
| 1:54.1 | almost a 5% spread in one day between technology on the downside and energy on the upside. But when you do see it, |
| 2:03.6 | it's very likely it could have been what we call a TBG day. The bond market didn't actually do a |
| 2:09.0 | ton today, which is surprising in how a lot of the dividend de-sectors performed. The 10-year yield |
| 2:15.3 | was down to basis points. So the bond market was up, but not a ton. |
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