The-Dividend Cafe - Monday September 9, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 9 September 2024
⏱️ 14 minutes
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Summary
Today's Post - https://bahnsen.co/4dWntMb
In this episode of Dividend Cafe, Brian Szytel steps in for David to discuss recent market trends and the current economic landscape as of September 9th. Brian highlights a significant market rebound following last week's downturn and analyzes recent employment reports and their market impacts. He also covers the Fed's monetary policy direction, market internals, and inflation rates in the US and China. Additional discussion points include Boeing's labor deal, consumer credit and wholesale inventory data, housing market conditions, and various relevant news items such as the Google antitrust case and upcoming political debates. The episode concludes with energy market updates and an ongoing lawsuit involving the Dakota pipeline and Greenpeace.
00:00 Introduction and Market Overview
00:49 Employment Reports and Market Reactions
01:38 Federal Reserve and Interest Rate Speculations
03:05 Sector Performance and Company News
03:55 Global Economic Indicators
07:07 US Housing Market Update
09:04 Energy Sector Insights
11:20 Upcoming Economic Events and Conclusion
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. |
| 0:13.0 | Welcome the Dividend Cafe. This is Monday, September the 9th. |
| 0:17.0 | And Brian Saitel with you here today, It's a treat for me to be here on Monday |
| 0:22.0 | because we get to do the longer format, dividend cafe, which I've always loved reading when David |
| 0:28.1 | writes it and then also being able to write it. So it's a treat for me to be here. David's returning |
| 0:32.4 | from some travel time. But with that, and it's also nice because two things. One, we got a nice |
| 0:38.9 | NFL weekend, and I hope you all enjoyed it as much as I did. And then the second thing was we had |
| 0:43.3 | a really nice up day today after what was ultimately the pretty down week last week. We were actually, |
| 0:50.1 | we ended on Friday the lowest for a week that we've had in about 18 months. |
| 0:54.9 | And on the NASDAQ, it was the worst week in about two years. |
| 0:58.7 | So some lower markets last week following into some gains today. |
| 1:02.7 | Last week, we were looking at employment. |
| 1:04.5 | Both the ADP report was below expectations and then the non-farm payroll report on Friday |
| 1:09.6 | was also below expectations. We printed 142. |
| 1:13.2 | We were expecting about 160,000 new jobs. And so that was a little weaker. And market sold off. |
| 1:19.6 | That said, I think there was some recovery this today, just because of how oversold it was, one and then two. |
| 1:26.2 | Inside of that non- unfarmed payroll report, |
| 1:28.4 | there was a couple of good things, too. We had the actual unemployment rate tick a little lower |
| 1:32.9 | from 4.3 to 4.2, but then you had actual wage gains that were a 0.4% on the month versus a 0.3 |
| 1:40.1 | expected. So it wasn't all bad, and I think markets acknowledged that today here with some |
| 1:44.7 | gains on the day. There wasn't a ton of other catalysts, frankly, for today's move higher. Otherwise, |
| 1:51.6 | we had, again, the narrative at this point is where's the Fed at as far as being, are they behind |
... |
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