The Dividend Cafe Thursday - July 11, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 11 July 2024
⏱️ 5 minutes
🧾️ Download transcript
Summary
Dividend Cafe: Market Commentary and Economic Updates - July 11th
In this episode of Dividend Cafe, Brian Szytel provides an insightful overview of the market activities on Thursday, July 11th. Key highlights include a mixed market performance with the Dow closing up by 32 points, while technology-heavy indices like the S&P and NASDAQ experienced declines. The CPI data released showed cooler than expected inflation, indicating positive trends for the economy and aligned with the Federal Reserve's goals. Bond yields have also rallied, reflecting these changes. Additionally, initial jobless claims were slightly better than anticipated. Szytel explains the day's performance, attributing the technology sell-off to a 'buy the rumor, sell the news' reaction. He also provides a brief outlook for the upcoming PPI index release. The episode concludes with a reminder about the weekly Dividend Cafe longer format soon to be available.
00:16 Market Overview: Mixed Day in the Markets
00:42 Inflation and CPI Data Analysis
01:43 Interest Rates and Bond Market Movements
02:36 Technology Sector Sell-Off
02:51 Upcoming Economic Reports 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. |
| 0:12.2 | Welcome to Dividend Cafe. This is Thursday, July the 11th. Brian Saitel with you here from our New York office. |
| 0:20.2 | On somewhat of a mixed day, really, in the markets, |
| 0:22.8 | the Dow actually held in almost the same for the most of the day. It actually closed up about 32 |
| 0:27.3 | points, but it kind of hovered around that value. Both the S&P and the NASDAQ were down. The S&P, |
| 0:33.0 | again, these are more technology heavy indices. The S&P was down about 0.9%. |
| 0:37.7 | The NASDAQ was down almost 2%. |
| 0:39.9 | So big technology selloff today. |
| 0:42.5 | And it's interesting because we had CPI data on inflation out today that was much cooler than expected. |
| 0:49.3 | Headline dropped 1 tenth of a percent for the month of June. |
| 0:53.9 | We were expecting an increase of a 10th. that's a two-tenth beat on core. |
| 0:58.9 | We got a one-tenth, so 0.1 percent increase. |
| 1:02.2 | We were expecting a 0.2 percent increase. |
| 1:04.6 | So basically, year over year, CPI is now 3 percent flat. |
| 1:08.3 | We were expecting 3.1. |
| 1:10.5 | So these are good numbers. Inside of those numbers, |
| 1:12.9 | it was shelter that had the lowest increase since August of 21, just as we've spoken about a |
| 1:18.5 | dozen times, that the owner's equivalent rent and the shelter cost that's baked inside of |
| 1:23.5 | inflation has been too high and it's now coming down. And so these overall numbers are coming |
| 1:28.1 | down again. These are positive signs. It's what the Federal Reserve wants to see. It basically |
| 1:33.2 | puts their PCE measure, if you calculate it, it's somewhere near 2.6%. So we're moving in the |
| 1:39.8 | right direction in a pretty rapid way and they've telegraphed that. The yield curve rallied today |
... |
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