The Dividend Cafe Thursday - October 24, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 24 October 2024
⏱️ 6 minutes
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Summary
Today's Post - https://bahnsen.co/3UiSoe3
Market Overview and Economic Data Insights - October 24th
In this episode of Dividend Cafe, Brian Szytel discusses the mixed performance in the markets on October 24th, with the S&P 500 up 0.21%, Nasdaq up 0.76%, and the Dow down 140 points. He highlights a decline in interest rates driven by economic data, including better-than-expected initial jobless claims and mixed PMI data showing services outperforming manufacturing. Szytel notes a significant drop in prices paid in the services sector, suggesting potential disinflationary trends. He also touches on new home sales and the implications of rising interest rates amid expanding debts and deficits. The episode concludes with a mention of NVIDIA's market cap comparison to G7 countries and the performance of defensive equity portfolios.
00:00 Introduction and Market Overview 00:26 Economic Data Insights 01:23 PMI Data Analysis 02:22 Interest Rates and Fiscal Policy 03:14 NVIDIA Market Cap Commentary 03:40 Client Portfolio Performance 04:18 Closing Remarks
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. |
| 0:13.0 | Welcome to Dividend Cafe. This is Thursday, October 24th. Brian Saitel with you. |
| 0:18.0 | On a generally, actually mixed day in markets, more to the upside, |
| 0:23.3 | the S&P was up about 0.21%. NASDAQ was up 0.76%. The Dow actually fell 140 points. Some of that |
| 0:31.8 | is around certain earnings reports and things in that price weighted index on the day. But overall, |
| 0:37.2 | generally a positive day in stocks. But overall, generally, a positive |
| 0:38.0 | day in stocks. In the bond market, we for once had interest rates fall here today, a little bit. |
| 0:43.7 | We had the 10-year-down two bases points, closed at 421. And some of the economic data is what |
| 0:50.7 | likely brought interest rates down a little bit because they've been running up here for |
| 0:54.7 | several weeks. But initial jobless claims actually were a little better than expected. As I've mentioned, |
| 1:01.4 | we've had things like big weather hit the country and there's been a strike at some of the big |
| 1:06.8 | industrial airline manufacturing companies or company that you could probably guess up in Seattle. |
| 1:12.2 | That has caused some of these number anomalies. But nonetheless, we've got from a mid-250 area |
| 1:18.3 | down to now 227 on the week. So that's a healthier number in initial jobless claims. |
| 1:22.9 | Continuing claims, however, were the highest and they've inched up. And so people are staying |
| 1:28.5 | on unemployment a little longer, in other words. This is the highest level that we've seen in three |
| 1:32.5 | years. So something to keep an eye on, see if that kind of comes back down. We had PMI data |
| 1:37.4 | out on manufacturing that was a little bit better than expected, although still in contractionary |
| 1:41.8 | territory. And then the services side of that PMI data |
| 1:45.4 | that was a little better than expected and actually in expansion territory. So it's still a mixed bag, |
| 1:50.9 | services outperforming manufacturing. The one thing I noted in there was it was interesting |
| 1:56.0 | inside of the services PMI data to see the prices paid fall so dramatically. They actually fell the delta, |
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