The Dividend Cafe Thursday - November 14, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 14 November 2024
⏱️ 6 minutes
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Summary
Market Recap and Economic Insights: November 14th Edition
In this episode of Dividend Cafe, Brian Szytel provides a market recap for Thursday, November 14th. Stocks had a generally negative day with the Dow down 207 points and the S&P and Nasdaq down around six-tenths of a percent. The bond market remained flat. Comments from Jay Powell suggesting a cautious approach to cutting rates contributed to some late-day selling pressure. Economic updates included inflation figures with the PPI showing a 2.4% year-over-year increase and initial jobless claims at 217,000. The episode also discusses the impact of shelter costs on CPI and touches on property tax assessment issues relevant to California residents. Tune in for more insights and stay informed about the economic landscape.
00:00 Introduction and Market Recap
00:30 Federal Reserve and Interest Rates
01:02 Economic Indicators and Inflation
01:43 Job Market and Economic Growth
02:05 Shelter Costs and CPI Calculation
03:32 California Property Tax Assessment
04:11 Conclusion and Upcoming Content
Links mentioned in this episode: DividendCafe.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. |
| 0:10.0 | Good evening and welcome the Dividend Cafe. This is Thursday, November the 14th. |
| 0:18.0 | Brian Saitel with you here for your market recap here on Dividend Cafe. |
| 0:22.7 | And what was generally a negative day, I guess, in stocks, the bond market was essentially flat. |
| 0:28.2 | So the tenure closed at 445 unchanged. The Dow was down 207 points. S&P was down about 6 tenths |
| 0:35.9 | of a percent, as was the NASDAQ. |
| 0:38.2 | So a little bit of a down day. |
| 0:40.0 | We actually closed more or less at the lows on the day. |
| 0:43.4 | And the reason that we had some selling pressure just into the close, which wasn't much, |
| 0:49.1 | was because Jay Powell gave some comments that were perceived to be a little bit more hawkish. |
| 0:53.3 | She basically just said, |
| 0:54.5 | all else being equal, what we're seeing right now is that we don't need to be in a hurry to cut rates too fast. |
| 1:00.7 | So they know they're going to bring the funds rate down, and the trajectory of that is TBD. |
| 1:06.3 | There's still about an 80% chance. They're going to cut another 25 basis points before Christmas. And so that's |
| 1:12.8 | what we have it on the Fed side. On the economic side, we had some more read into inflation. We had a |
| 1:20.1 | PPI number out today. This is the producer price index number out. Remember, we got CPI out yesterday |
| 1:26.6 | that was largely in line across the board. Same thing on PPI today. |
| 1:30.3 | We got a two-tenths of a percent increase for the month of October. That puts us at 2.4 year over year on headline PPI. |
| 1:37.3 | So pretty close to two. If you strip out food and energy, which has come down, both of them have, then you got a 0.3% and a 3.5% |
| 1:46.0 | year over year. So, but that's on the core side, so core PPI. So there's another read into |
| 1:53.4 | inflation, another look on the input side on the producer price index. We also had initial |
| 1:57.7 | jobless claims that were in line. So we're still in the 220 range. |
... |
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