The Dividend Cafe Tuesday - July 9, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 9 July 2024
⏱️ 5 minutes
🧾️ Download transcript
Summary
Dividend Cafe: Market Commentary and Economic Updates, July 9th
In this week's Dividend Cafe, Brian Szytel provides a market commentary from New York. The Dow closed down 52 points, while the NASDAQ and S&P 500 remained slightly positive. A significant topic discussed was Federal Reserve Chair Jay Powell's comments to the Senate finance committee about the potential economic risks if interest rates are not cut soon. The likelihood of a September rate cut has increased to 70%. Brian highlights concerns about the economic data, slowing growth, and its impact on earnings per share for the S&P 500. Upcoming economic indicators and more Fed comments are anticipated this week. The Bonson Group emphasizes the importance of due diligence and consulting with professional advisors.
00:00 Introduction to Dividend Cafe 00:23 Market Overview and Economic Data 00:41 Federal Reserve Insights 01:30 Economic Predictions and Market Expectations 02:29 Upcoming Economic Events 02:51 Closing Remarks 03:01 Disclaimer and Legal Information
Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com
Transcript
Click on a timestamp to play from that location
| 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. It's Tuesday, July the 9th, and Brian Saitel with you here today from our New York City Manhattan office studio. |
| 0:23.2 | In what was generally a fairly flat day in markets, the Dow closed down about 52 points, |
| 0:29.2 | but the NASDAQ and the S&P were just both slightly positive on the day. |
| 0:33.8 | So fairly flat. |
| 0:35.2 | The tenure was up a little less than two basis points. We closed at 429 on 10s. |
| 0:40.9 | There was larger economic data, I guess out in the news today was Jay Powell's comments to the Senate Finance Committee. |
| 0:47.8 | He does this twice a year regarding a risk of the economy slowing down if they wait too long to cut interest rates, basically. |
| 0:54.4 | So there's a change in narrative around citing more confidence needed on inflation before they |
| 0:59.8 | can cut rates to now the weakening in the labor market and some of the economic data is also |
| 1:04.5 | a risk to this equation. |
| 1:06.0 | And we need to try to get this thing right. |
| 1:07.6 | There's now a 70% chance for a September rate cut. |
| 1:10.7 | So this is up |
| 1:11.3 | from call it 30, 40% a couple of months ago. So it's moved up quite a bit. And I suspect that it |
| 1:17.3 | will continue into September. I mean, of course, economic data can always change. So it's all |
| 1:22.0 | subject to that. There's been sort of a pretty consistent feeling inside of some of this economic |
| 1:27.3 | data with a little |
| 1:28.2 | weaker numbers. So that's what they're dealing with. A comment that I added in there on what's on |
| 1:33.0 | Brian's mind, which is really, you know, if economic data is going to slow and it is, if the Fed's |
| 1:38.6 | citing that, and so they're going to start cutting interest rates, it's fairly hard to have a |
| 1:42.5 | slower economy and less GDP and a little bit |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from The Dividend Cafe - The Bahnsen Group, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of The Dividend Cafe - The Bahnsen Group and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.