The Dividend Cafe Thursday - August 29 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 29 August 2024
⏱️ 5 minutes
🧾️ Download transcript
Summary
Market Update and Economic Insights - August 29
In this episode of Dividend Cafe, an update on the market performance for Thursday, August 29th is provided. Key points discussed include the Dow's gain of 243 points, the NASDAQ's loss of over one percent, and stability in bond yields. The script highlights the decline in initial jobless claims, a revised upward GDP for Q2 driven by consumer spending, and corporate profits at an all-time high. The episode emphasizes the importance of vigilance in portfolio management despite market complacency and previews upcoming inflation data. Closing remarks include well wishes for Labor Day weekend and success in fantasy football drafts.
00:00 Introduction and Market Update 00:52 Economic Indicators and Employment 01:16 GDP and Consumer Spending Insights 01:56 Corporate Profits and Market Valuations 02:23 Risk Management and Vigilance 02:55 Upcoming Data and Weekend Wishes
Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com
Transcript
Click on a timestamp to play from that location
| 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. |
| 0:12.8 | Welcome to Dividend Cafe this Thursday, August the 29th. |
| 0:17.3 | And what was an update here on the Dow, we actually gave back about half of what we were up this |
| 0:23.1 | morning. We were up almost 500 points mid-morning time and then gave about half that up. We ended |
| 0:28.2 | closing up about 243 on the Dow. The NASDAQ, by the way, was up over a percent during that |
| 0:34.2 | period of time and lost all of that into the red. We closed at a negative 0.23% on the NASDAQ, |
| 0:40.7 | so a big dispersion between basically growth and value. |
| 0:43.8 | Technology sold off quite a bit today, |
| 0:46.4 | physically just from intraday from the morning. |
| 0:49.0 | The 10-year yield was up a few basis points. |
| 0:50.8 | We closed at 386, so pretty quiet in Bongland. |
| 0:54.0 | The spread on 2s and 10s is still just flirting with the zero number and being uninverted or less inverted were to three basis points on two's tens so pretty much flat across the curve |
| 1:05.7 | economic front today we had initial jobless claims at 231 versus 232 so basically fully just in line on the |
| 1:12.9 | employment picture which was good this is down in this sort of 230 level from 260s where we |
| 1:19.8 | saw last summer so there was a concern at that point that labor was falling out of bed faster than |
| 1:25.3 | it actually has been so we're holding up just fond on the employment front. |
| 1:29.6 | And then on GDP, we got a second revision for the second quarter. |
| 1:33.9 | So Q2 was revised up from 2.8 to 3%. |
| 1:37.9 | So some stronger GDP numbers and good number on employment as well. |
| 1:42.9 | So generally a decent day in markets. |
| 1:45.0 | The fuel, by the way, on GDP revision was all consumer-based. |
| 1:48.3 | It was basically consumer spending. |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from The Dividend Cafe - The Bahnsen Group, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of The Dividend Cafe - The Bahnsen Group and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.