The Dividend Cafe Tuesday - December 17, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 17 December 2024
⏱️ 7 minutes
🧾️ Download transcript
Summary
Dividend Cafe: Market Recap and Insights on December 17, 2024
In this episode of Dividend Cafe, Brian Szytel provides a midday market recap for Tuesday, December 17, 2024. The Dow has experienced a significant losing streak, down around 300 points, marking its ninth consecutive negative day. The S&P and Nasdaq also closed lower. The Federal Reserve's meeting is anticipated to conclude with a 25 basis point rate cut, and Brian discusses its impact on bond markets. Additionally, Brian comments on China's budget release, capital outflows, and the devaluing Yuan. He briefly touches on the topic of moving IRA balances to 401(k) plans for Roth contributions and ends with a call for listener questions.
00:00 Introduction and Market Overview
01:10 Federal Reserve Meeting Insights
01:38 Bond Market Analysis
02:59 China's Economic Strategies
04:20 Investment Advice and Q&A
05:20 Conclusion and Upcoming Topics
Links mentioned in this episode: DividendCafe.com
Transcript
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| 0:00.0 | Welcome to the Dividing 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 Tuesday, December the 17th, the Brian Saitel with you here in this midday weekly market recap for Dividing Cafe. |
| 0:23.6 | Negative day overall in markets, I'm actually recording this about 12 minutes before the close, |
| 0:29.6 | so it'll change a small amount from this number, but we're down right around 300 points or so on the Dow. |
| 0:36.6 | Fun fact, and not to cause any unnecessary alarm, |
| 0:40.5 | per se, but the Dow is down nine days in a row, and that's the longest streak of it doing that since |
| 0:46.3 | 1978. Believe it or not, I was one years old. So usually you get a positive day in the middle |
| 0:51.5 | of things that breaks up a consecutive losing streak like that. |
| 1:00.9 | So not to spoil anyone's holiday shopping or holiday vibe, but kind of a fun fact, keep in mind, though, we're only off the highs of about 4%. So it's not like it's down really all that much. |
| 1:06.2 | But a couple of factoids there on the Dow. The S&P actually closed lower today as well by about half |
| 1:12.2 | of a percent, so did the NASDAQ. So all markets were down about the same. The tenure on the day |
| 1:17.4 | was about flat. We closed at 440 on tens. That yield has come up a little bit. We have the beginning |
| 1:24.9 | of the Federal Reserve meeting started today. We're expecting with all |
| 1:29.3 | assurity that a 25 basis point rate cut will be announced tomorrow at the conclusion of the meeting. |
| 1:34.3 | He'll have a nice press conference after the meeting as usual, and we tend to get more information |
| 1:39.3 | from that than the actual minutes released from the meeting itself. So we'll be paying |
| 1:43.3 | attention to that. |
| 1:45.0 | I do think it's interesting that with this rate cutting cycle now turning the three months old, |
| 1:49.0 | they've lowered interest rates. We actually have had a sell-off in the bond market. The aggregate bond index is down about 2.6%. |
| 1:57.0 | The long bond, if you go out 20 years on treasuries, is down closer to 5 or 6%, if not a little bit more. |
| 2:03.6 | Unusual that you would have declining interest rates and then also declining bond prices. |
| 2:07.6 | What it means is that the bond market priced in ahead of expectations, interest rates that would |
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