The Dividend Cafe Tuesday - November 12, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 12 November 2024
⏱️ 8 minutes
🧾️ Download transcript
Summary
Market Update and Economic Insights - November 12th
In this episode of Dividend Cafe, Brian Szytel from The Bahnsen Group provides a comprehensive market update from their Newport Beach office. The Dow Jones fell 382 points, the S&P 500 dropped 0.3%, and Nasdaq remained flat. Key points discussed include the recent fluctuations in the market following the post-election rally, the notable rise in interest rates with the 10-year Treasury yield closing at 4.43%, and the impact of better-than-expected growth numbers. Brian also touches on the strengthening dollar, the shifting political landscape in Congress, and upcoming economic data releases, including the anticipated CPI report. Federal Reserve comments on restrictive Fed funds and inflation are also highlighted. The session concludes with an acknowledgment of the market as a discounting mechanism and a reminder to consider the difference between policy announcements and actual implementations.
00:00 Welcome to Dividend Cafe
00:14 Market Overview: A Day in Stocks
00:51 Interest Rates and Treasury Yields
01:27 Political Landscape and Market Impact
02:39 Economic Data and Surveys
03:32 Federal Reserve Insights
03:46 Inflation Expectations and Market Predictions
05:26 Conclusion and Upcoming Events
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 | Good evening and welcome the Dividend Cafe. This is Tuesday, November the 12th, and Brian Saitel with you in our Newport Beach California office here |
| 0:23.6 | at the Bonson Group on a fairly flat day slightly lower overall in the in the market |
| 0:30.6 | we had sort of an up and down trading day for the most part although we closed right |
| 0:35.7 | near the lows the Dow was down 382 points. |
| 0:39.6 | Then S&P 500 was down about 0.3%. |
| 0:43.7 | NASDAQ was essentially flat. |
| 0:45.8 | So a little bit of a down day in stocks. |
| 0:47.3 | Obviously, there's been this big run-up here post-election here over the past week. |
| 0:51.2 | And so some of this consolidation I don't think is a bad thing. |
| 0:54.2 | I frankly think it's a good thing. We don't want one direction on the market forever. It needs |
| 0:59.3 | to trade in a normal fashion and it's still trading high. But a little good back today. |
| 1:04.3 | Interest rates were probably the most notable news on the day. The 10 year was up 13 basis points. |
| 1:09.8 | We closed at 443 on the yield. So, I mean, at the low, |
| 1:13.6 | we're now up about 75 to 77 basis points from where we were at the low. And most of them |
| 1:19.9 | who have higher in interest rates is because of growth numbers coming in better than expected. |
| 1:25.0 | So it's not necessarily a bad thing, but just keep in mind |
| 1:28.8 | the two-year treasury yield now is actually higher today than it was when the Fed starting cutting |
| 1:34.4 | rates in September. So we're getting some repricing and some things. The dollar has strengthened |
| 1:39.5 | since the election. There's been some added momentum on additional House of |
| 1:46.2 | Representative seats for the GOP. And again, all the races are not done yet. So the final |
| 1:52.0 | numbers are not in. Of course, we need 218 for a majority inside the House. But it's |
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