The Dividend Cafe Thursday - October 31, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 31 October 2024
⏱️ 7 minutes
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Summary
Market Recap and Investment Strategies - October 31st Edition
In this Halloween edition of Dividend Cafe, Brian Szytel discusses the down day in the markets, highlighting a 2.76% drop in the NASDAQ and a 378 point drop in the Dow. Key economic updates include a flat interest rate, PCE inflation numbers aligning with the Fed's targets, and lower than expected jobless claims. Brian also elaborates on the investment methodology, focusing on a blend of quantitative screens and in-depth fundamental analysis. Additionally, he emphasizes the undervalued utility sector, which is poised for growth due to increased electricity demands from data centers. He concludes with a personal note on Halloween festivities.
00:00 Market Recap: Halloween Edition 00:45 Economic Indicators and Inflation Insights 01:18 Employment and Wage Trends 02:12 Investment Methodology Explained 03:55 Utilities: The Underappreciated Sector 05:06 Closing Thoughts and Halloween Wishes
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. It is Halloween on October 31st. Brian Saitel with you on a down day in markets overall. In fact, a bit of a |
| 0:23.8 | dozy at least in the NASDAQ. The NASDAQ was down about 2.76% on the day. So it's a |
| 0:30.4 | more tech heavy index. There's a lot of earnings coming out right now in that sector, particularly, |
| 0:35.7 | and that drove down some of that index. The Dow itself was down |
| 0:40.7 | 378 points, which in percentage terms is about 0.9%. So it's a down day in markets. Interest rates |
| 0:48.7 | were flat. That's been to the topic lately. The tenure was at 429. So there's your short recap, at least in the broad |
| 0:56.0 | equity market. On the economic calendar, we had an inflation read. It's actually what the Fed |
| 1:02.5 | likes to use, one of their favorite barometers, which is PCE. Headline completely in line. |
| 1:08.0 | Headline came out at 0.2% month over month. |
| 1:15.7 | And headline PCE is now just 2.1% year over year. |
| 1:18.8 | So the Fed's target is two on CPI. |
| 1:20.0 | And so we're basically there. |
| 1:21.5 | And that's what PCE is telling us. |
| 1:24.4 | If you strip out the food and energy component, |
| 1:27.8 | just because energy has come down and frankly food has too. Both of those things have come lower. |
| 1:29.6 | It was 0.3% for the month. |
| 1:31.8 | So nonetheless, inline numbers on inflation for PCE. |
| 1:35.2 | We had initial jobless claims that were lower than expected, which is a good thing, 216 versus |
| 1:41.7 | 228. |
| 1:43.2 | The continuing claims which really had been rising steadily and were more |
| 1:48.0 | to watch, were also lower than expected. So that's a good thing. Some of these things were just |
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