The Dividend Cafe Tuesday - May 7, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 7 May 2024
⏱️ 6 minutes
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Summary
A daily summary of key market data and economic nuggets. Reach out with questions anytime!
Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.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. |
| 0:12.2 | Welcome to Dividend Cafe. This is Tuesday, May the 7th. And what was really quite a quiet day of trading today in markets, we were up over 100 points |
| 0:23.2 | or so this morning and drifted a little sideways, a bit lower, and ended up closing just up 30 points |
| 0:28.9 | on the day. Volatility continues to move lower here. The VIX is in the low 13. So just |
| 0:35.9 | just kind of a quiet, quiet day, although technically does mark |
| 0:39.7 | the longest winning streak, at least on the Dow, since December. So take it for what that's worth. |
| 0:46.8 | The NASDAQ today was a little bit lower. The S&P closed just a little bit higher. So kind of a quiet |
| 0:51.9 | day in markets. On the year, I guess, the Dow is now up |
| 0:57.2 | about three and a half percent on the year. The S&P and the NASDAQ are both up about 9 percent on the |
| 1:02.2 | year. Sector-wise, this is again, this is for the year. Leading sector for the year is energy, |
| 1:08.9 | which is up a little over 11% on the year. And both |
| 1:12.3 | industrials, financials, and utilities are actually all up over nine. Real estate is the most |
| 1:17.4 | notable negative sector for year-to-date 2024. So in a quiet day of trading and frankly, |
| 1:23.7 | a quiet day in the economic calendar, I wanted to just go over some of those year-to-date numbers with you. |
| 1:29.9 | There was a treasury auction today that was sizable. It was $58 billion in three-year notes. |
| 1:36.8 | A bid-to-cover ratios were quite healthy, and that's a good sign as the treasury needs to produce |
| 1:42.1 | more and more treasuries to finance deficits. |
| 1:50.1 | We've got another $40 billion out tomorrow in 10-year treasuries, and then another $22 billion out in 30s. |
| 1:53.0 | There was a few questions that we added in there today, one from the David answered on the |
| 1:58.4 | payrolls number as far as what is essentially is, is good news or, |
| 2:03.4 | you know, or the other way is bad news, actually good news now. So, you know, higher unemployment |
| 2:08.6 | rate or more people filing for unemployment, why was that looked at as good with markets |
... |
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