The Dividend Cafe Thursday - October 10, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 10 October 2024
⏱️ 4 minutes
🧾️ Download transcript
Summary
Market Update and Economic Insights - October 10th
In this episode of Dividend Cafe, recorded on October 10th, host Brian Szytel discusses the day's quiet market activity, with slight decreases in both the Dow and S&P indices and an unchanged bond market. The CPI report showed a slight increase in inflation, driven primarily by shelter and food costs. Initial jobless claims were higher than expected, partly due to a Boeing strike and Hurricane Helene. The episode also features a Q&A about the potential deflationary environment and its challenges. Listeners are encouraged to reach out with questions.
00:00 Introduction and Market Overview
00:27 Inflation Data Insights
00:53 Jobless Claims and Economic Impact
01:28 Q&A on Inflation and Deflation
01:49 Conclusion and Final Thoughts
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 | Welcome to Dividend Cafe. This is Thursday, October 10th, Brian Saitel with you here today on a fairly quiet market day in the market. The market was |
| 0:22.0 | actually lower slightly by about 0.15% or so on the Dow, a little bit more on the S&P. So fairly |
| 0:28.3 | quiet day, just slightly to the negative bond market was literally unchanged on the 10-year. |
| 0:33.6 | So some flat yields across the board today. The numbers we got actually could have moved markets more. |
| 0:39.1 | We got an inflation read with CPI coming out at 0.2% for the month. |
| 0:44.9 | The estimate was for 0.1, so it was just a little bit more than expected. |
| 0:49.5 | And then on core, if you strip out food and energy, it was a point three versus a point two. |
| 0:54.9 | That was consensus. |
| 0:55.8 | So just slightly higher, inside of those numbers, it was really shelter and food that contributed |
| 1:00.5 | 75% of the increase. |
| 1:02.6 | So I think markets took it pretty much in line for what they were. |
| 1:06.2 | We also had initial jobless claims on the day at 258, which was far more than we thought that it would be. |
| 1:12.4 | We were estimating somewhere around 230, and so quite a bit more people filing for unemployment. |
| 1:18.0 | Part of that, though, there was a strike at Boeing that probably affected some of those numbers, |
| 1:23.7 | and then we also had, of course, Hurricane Helene that likely added to some of those numbers as well. |
| 1:30.0 | But nonetheless, that 250A print would be the highest since October of 2023. |
| 1:34.9 | So some higher numbers on the employment side. |
| 1:38.0 | But overall, a fairly in-line day with markets, and there was a Q&A in there about inflation subsiding and then ultimately |
| 1:45.7 | prices going back to where they were, some sort of a deflationary environment. And David did a |
| 1:50.2 | nice job of explaining why deflation is a whole other issue to deal with and often even worse, |
| 1:56.6 | where prices in the future are lower. and so it just kills economic activity altogether. |
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