The Dividend Cafe Monday - May 20, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 20 May 2024
⏱️ 8 minutes
🧾️ Download transcript
Summary
Today's Post - https://bahnsen.co/3ypYWzx
We recap market activity on Monday, May 20th. The Dow started positively but lost momentum, closing down 196 points. The S&P and NASDAQ saw modest gains. China's market performance may be indicating an upward trend. Additionally, there was news about a helicopter crash in Iran, potential Middle Eastern tensions, and upcoming OPEC meetings. There are possible changes in capital reserve requirements for U.S. banks, the employee retention tax credit, increased tariffs on China, and the impact of these policies. We look at homeowners and renters in the U.S. Lastly, insights into recent Fed speeches and their stance on inflation and rate adjustments
Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com
Transcript
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| 0:00.0 | Welcome to the Dividend Cafe weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life. |
| 0:10.0 | Welcome to Dividend Cafe this Monday, May the 20th. |
| 0:17.0 | And we started out this morning slightly positive. We were actually above the 40,000 level |
| 0:22.8 | on the Dow for first, say, two, two and a half hours of trading and then lost some momentum |
| 0:28.0 | throughout the day. The Dow ended up closing down 196 points. Both the S&P and the NASDAQ actually |
| 0:34.4 | registered modest gains on the day. And even with the sell-off, |
| 0:38.2 | really with the volatility index of VIX and the low 12s really wasn't much of a down day. |
| 0:44.2 | So I'd call it quiet. Yields were up just slightly, tens were up about two basis points on the day, |
| 0:49.6 | closed at 444. So there you have it for a little market recap. There's an interesting note in there about China's |
| 0:57.0 | markets being a 20% year to date and more and more percentage of stocks in China trading above |
| 1:03.0 | their 200 day moving average. And basically a market that's been more or less left for debt. |
| 1:09.0 | If you look at a 10 year or a 20 year chart, |
| 1:12.4 | they're negative, quite negative. These things just have a funny way of quietly and slowly and |
| 1:17.7 | discreetly creeping higher again before really anyone notices because the flows that we're seeing |
| 1:22.9 | in ETFs and funds and things are not only still abysmal, but they're still negative year to date. |
| 1:28.3 | So there aren't too many participants catching on. And I think it will take some time before |
| 1:32.5 | there's more conviction before that happens. Top news story for the day was the helicopter |
| 1:38.8 | crash killing Iranians president, Racy and his foreign minister and six others. |
| 1:45.0 | And it looks like it's an accident. |
| 1:47.0 | It was a blizzard-type conditions and a lot of fog. |
| 1:50.0 | I think it was a 30- or 40-year-old helicopter on top of that, |
| 1:53.0 | and they tried to set it down in that storm and ultimately all perished on board. |
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