The Dividend Cafe Thursday - November 7, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 7 November 2024
⏱️ 5 minutes
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Summary
Market Follow-Through and FOMC Rate Cut Analysis
In this episode of Dividend Cafe, hosted by Brian Szytel on November 7, key financial market movements are discussed, including a flat Dow after the previous day's significant 3.5% rise, and modest gains in the S&P and NASDAQ. The podcast details the Federal Reserve's latest FOMC meeting, which resulted in a 25 basis point interest rate cut, bringing the range to 4.5%-4.75%. The host highlights the day's market dynamics, with previously leading sectors falling back and tech companies rebounding, driven by changes in bond yields. Employment data remained consistent with expectations, and the volatility index (VIX) saw a substantial drop, signaling market optimism. Listeners are encouraged to stay tuned for more in-depth analysis in the upcoming long-form episode.
00:00 Introduction and Market Recap
00:28 Sector Performance Analysis
00:55 Federal Reserve Meeting Insights
02:09 Employment Data and Market Sentiment
02:31 Volatility and Market Outlook
02:54 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. |
| 0:12.0 | Welcome to Dividend Cafe. This is Thursday, November the 7th. |
| 0:17.0 | And Brian Saitel with you here to give you this recap in what was really a follow-through from |
| 0:23.3 | yesterday's move higher. The Dow actually was, I've never actually really seen this. It was a 0.00% |
| 0:30.7 | move on the Dow. So a flat Dow industrial is after yesterday's 3.5% move. The S&P was up 7 tenths of a percent. The NASDAQ was up |
| 0:40.1 | 1.5%. So what you got today was an exact opposite of yesterday, in that all the leaders |
| 0:46.6 | yesterday were the laggards today. So things like financials, M&A companies, anything related to those more cyclical areas, some energy. |
| 0:57.2 | Those were the laggards. |
| 0:58.2 | And then the leaders for today were all the things that lagged yesterday, which is the big |
| 1:01.6 | technology companies, some of the China Tech at a rebound, some of the home builders |
| 1:06.6 | that sold off yesterday. |
| 1:08.5 | One of the reasons for that was that the FOMC concluded their meeting today |
| 1:13.7 | and cut interest rates. So some of those sectors yesterday were hit because the 10 year was up so much. |
| 1:20.1 | It was up 15 basis points. Today on the 10 year, we got 10 basis points off that. So a huge move lower on yields. So we closed |
| 1:30.4 | at 434. So we gave back a lot of what ran up yesterday. And that's what did some of those other |
| 1:36.0 | sectors better on the day. The FOMC concluded their meeting. And of course, just as we thought, |
| 1:41.5 | cut basis points, 25 basis points off the target rate, |
| 1:44.7 | it was a unanimous decision. So no dissension at all amongst the Fed presidents. So we're now at a |
| 1:50.4 | range of four and a half to four 75, and there's a 75% chance that they'll do another cut in |
| 1:56.6 | December. Most of the verbiage that they had in their statement was, they changed a few different |
| 2:01.9 | things, but nothing major. I'd say it was pretty status quo. The press conference, when asked |
| 2:06.9 | about fiscal side with what Trump may or may not do, they essentially just pleaded the fifth |
... |
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