The Dividend Cafe Thursday - June 20, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 20 June 2024
⏱️ 4 minutes
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Summary
Market Update: Mixed Indices and Economic Indicators
In this episode of Dividend Cafe, recorded on Thursday, June 20th, we discuss the mixed performance in the stock market where the Dow closed up nearly 300 points, while the S&P and NASDAQ saw slight declines. Key sector movements included a 2% rise in energy and a 1.4% drop in information technology. Jobless claims were slightly higher than expected at 238,000, and the Philly Fed index showed weaker-than-expected manufacturing numbers. Housing starts fell by 5.5% for the month, alongside disappointing building permit figures, suggesting potential impacts from interest rates and seasonal factors. Upcoming economic data include PMI and existing home sales. The episode wraps up with well wishes and an invitation for audience questions.
00:00 Welcome and Market Overview 00:27 Sector Movements and Jobless Claims 01:04 Economic Indicators and Housing Data 01:39 Upcoming Data 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. |
| 0:12.1 | Welcome to Dividend Cafe. It is Thursday, June the 20th. And what was an update, at least, for the Dow, we closed up 300 points, almost 300 points, $2.99 on the Dow. |
| 0:23.7 | And actually, both the S&P and the NASDAQ closed a little lower. The NASDAQ and the Dow, |
| 0:28.7 | interestingly, were almost like mirror images on the day where the Dow closed essentially at the |
| 0:34.1 | highest for the day in that index. And the NASDAQ was right at the lows for |
| 0:38.1 | its numbers on the day. But notable sector movers energy was up 2%. Information technology was down 1.4%. So quite a |
| 0:46.9 | divergence in different parts and sectors of the market. We had jobless claims today come out basically |
| 0:53.2 | in line. We were expecting 235. We got 238. So this is a little |
| 0:57.6 | higher level than what we've had for probably the last average of six months, maybe closer to the 210 level. |
| 1:04.4 | So we've crept a little higher, but still pretty healthy in jobs. And I'd say anything above or anything |
| 1:09.9 | below, sorry, about 270 is probably not a |
| 1:12.6 | big deal as far as news and market moving expectations. We had the Philly Fed today had weaker than |
| 1:20.3 | expected numbers. We're expecting a five handle. We got a 1.3 for the month of June. So that's a little |
| 1:25.9 | weaker in manufacturing for the day on the economic |
| 1:29.2 | front. And we had new housing starts down five and a half percent for the month, which is a good |
| 1:37.1 | amount lower. Building permits were also a disappointing figure as well. So some weak numbers in |
| 1:41.9 | housing, obviously it's most likely attributable to |
| 1:44.4 | interest rates. Could also be attributable to this time of year, summer months, but nonetheless, |
| 1:49.7 | some weaker numbers in housing. Tomorrow we'll have PMI data out in there and existing |
| 1:57.1 | home sales in the economic front to go through. We'll also obviously have the dividend cafe and topical long form format for you. And with that, I will let you go for the |
| 2:06.3 | evening. I hope everyone enjoyed their release for the markets, their day off from yesterday on |
| 2:10.9 | June 10th. But I'll let you go for the evening. I wish you all well. If I don't speak to you, |
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