The Dividend Cafe Thursday - May 23, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 23 May 2024
⏱️ 5 minutes
🧾️ Download transcript
Summary
In this episode of Dividend Cafe, the discussion revolves around a significant downturn in the market with the Dow closing over 600 points lower. However, some sectors, especially those related to AI technology, showed positive performance due to favorable earnings results. The episode delves into recent economic indicators, highlighting PMI data showing the economy's accelerated growth in May, with manufacturing and services sectors posting gains. Despite positive economic indicators, concerns remain regarding potential Federal Reserve actions on interest rates. The episode also covers lower-than-expected initial jobless claims and a decline in new home sales, attributed to higher interest rates. A Q&A session discussed dealing with large deficits and government debt, advocating for supply-side economic policies to stimulate growth without excessively raising taxes or increasing regulation. The Bonson Group provided these insights, emphasizing that their advice does not constitute a solicitation for securities and should not replace professional tax or legal consultation.
00:00 Welcome to Dividend Cafe! 00:19 Market Overview: A Down Day in the Markets 00:53 Economic Indicators: PMI Data and Jobless Claims 01:57 Housing Market Insights: New Home Sales Data 02:42 Fiscal Policy Discussion: Deficits, Taxes, and Economic Growth 03:49 Closing Remarks and Contact Information 03:59 Legal and Advisory Disclosures
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. |
| 0:10.0 | Hello and welcome the Dividend Cafe. It is Thursday, May the 23rd. |
| 0:19.0 | What was a fairly down day in markets across the board, the Dow closed over 600 points lower |
| 0:24.8 | on the day. |
| 0:26.6 | There was some bright spots, I guess, from a performance standpoint, inside of some of the |
| 0:30.6 | technology names particularly related to AI with some of the earnings results today. |
| 0:36.3 | But other than that, it was a down day. |
| 0:38.1 | And the reason that markets were down was really a feeling of good news being bad |
| 0:43.6 | news, unfortunately, with what it could mean for the Federal Reserve. |
| 0:47.2 | And I speak about this a little bit in the writing. |
| 0:49.5 | But, you know, we got good news today. |
| 0:51.4 | Listen, we got PMI data, at least a flash number. |
| 0:54.0 | This is sort of an intramount number for PMI's on both services and manufacturing. The composite index was up the most in two years. So that's a good thing. It means the economy re-accelerated in the month of May. Those things are positive. Inside of those numbers, services were up the highest in over a year. And manufacturing in those |
| 1:13.0 | were up for the fourth consecutive month. And overall output has now been positive for 16 months in row. |
| 1:19.4 | Those are all good things. So I'm going to say that I will stick with the narrative of good |
| 1:23.9 | news for the economy being good news. And I think it's far too reliant on what people think |
| 1:29.0 | that the Fed may or may not do with raising interest rates lower by 25 basis points in July or |
| 1:35.1 | September or October or something like this. We also had initial jobless claims that were better |
| 1:40.2 | than expected. We were at 215 versus 220 expected. And so again, fewer people filing from |
| 1:45.7 | unemployment. And again, these numbers are, you know, the same numbers we had 50, 60 years ago. |
| 1:50.7 | So these were positive things in the economy. We did have some new home sales data. We had |
| 1:55.3 | existing yesterday. Today we had new home sales that had disappointed a bit. They were down 4.7% for the month of April. |
... |
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.