The Dividend Cafe Tuesday - December 3, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 3 December 2024
⏱️ 6 minutes
🧾️ Download transcript
Summary
Daily Market Recap and Economic Insights - December 3
In this episode of Dividend Cafe, Brian Szytel from West Palm Beach, Florida, delivers a daily market recap for December 3. The Dow closed down 76 points, while S&P and NASDAQ ended in positive territory. The ten-year yield rose by three basis points, and the October JOLTS report indicated an increase in job openings. Several Federal Reserve governors spoke, signaling a likely December rate cut, boosting market optimism. The episode also previewed upcoming employment reports, predicting that data dependency will drive future economic policies.
00:00 Introduction and Market Recap
00:30 Economic Indicators and Job Market
01:27 Federal Reserve Updates
01:58 Upcoming Employment Reports
02:08 Fed Governors' Statements
03:26 Conclusion and Final Thoughts
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. |
| 0:12.0 | Welcome the Dividend Cafe. It is Tuesday, December the 3rd, and Brian Saitel with you here from our West Palm Beach, Florida office, with your daily recap here on the market. |
| 0:24.1 | We had a generally positive day. The Dow ended up closing down 76 points, although it had come off of the lows throughout the trading day. |
| 0:33.0 | The S&P, though, and the NASDAQ both closed in positive territory. |
| 0:37.0 | The SMP just barely, NASDAQ was up |
| 0:39.3 | four-tenths of a percent, and 10-year yield rose about three basis points. We closed at 423. |
| 0:45.3 | And on the economic side, not a lot. The October job opening number, which is called the Joltz |
| 0:51.3 | report, came out, which beat expectations, and meaning more job openings were available, |
| 0:56.9 | meaning that there's employers out there increasing hiring, which is usually a positive sign |
| 1:01.7 | for the economy. Of course, during COVID, or right after, really, there was a real big |
| 1:06.8 | imbalance between those two things. We had a lot more job openings when everyone realized |
| 1:11.3 | the world wasn't going to end and the economy was still going to be even stronger than |
| 1:15.2 | than previously thought. And the labor market got far too tight. That has now kind of balanced |
| 1:21.8 | now to a more normal level. But since September was about a 42-month low in the Joltz number, likely allotted out around |
| 1:30.0 | angst over where the election was going to go and some clarity on maybe tax rates and some of |
| 1:34.5 | those things. |
| 1:35.5 | It's nice to see a rebound here. |
| 1:37.3 | And again, positive sign, generally speaking, for the economy. |
| 1:40.7 | There was a couple of different, when I say a couple, I'm talking five or six different |
| 1:45.4 | Fed governors speaking in different events around the country today. Most of them, almost in unison, |
| 1:51.5 | were pretty doveish. And that moved up the probability of a December rate cut, which is in about |
| 1:58.6 | two weeks from today, if I'm not mistaken, the 17th, |
... |
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