The Dividend Cafe Tuesday - November 19, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 19 November 2024
⏱️ 4 minutes
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Summary
Market Update: Positive Earnings Amid Geopolitical Tensions - November 19
In today's episode of Dividend Cafe, Brian Szytel recaps a generally positive day in the market despite geopolitical tensions involving Ukraine and Russia. The bond market saw slight increases, with the 10-year yield closing at 4.40%. The Dow ended down 120 points but recovered significantly from a 500-point drop earlier in the day, driven by positive earnings reports from major companies. Economic news highlighted disappointing new housing starts and building permits, likely affected by hurricanes and rising interest rates. The episode also touches on the ongoing selection of Trump's administrative team. Overall, it was a relatively quiet day with low volatility and no major economic announcements expected in the immediate future.
00:00 Introduction and Market Overview
00:22 Geopolitical Tensions and Market Reactions
01:00 Economic Data: Housing Starts and Permits
01:41 Upcoming Economic News and Market Sentiment
02:04 Political Updates and Conclusion
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 | Welcome to Dividend Cafe. This is Tuesday, November the 19th. Brian Saitel with you here in what ultimately ended up to be a generally positive day in markets. |
| 0:23.5 | Bonds were a little higher. The tenure was off about one basis points. We closed at 440 on the yield. |
| 0:29.2 | Dow ended up closing down 120 points. But earlier in the morning, it was down over 500. |
| 0:35.2 | And a lot of that was related to geopolitical tension with longer-range |
| 0:39.5 | missiles from Ukraine on Russian soil and some saber rattling from Russia over retaliation |
| 0:48.0 | and so on. That ended up fading into the day, and we had several different pieces of positive |
| 0:52.7 | earnings news and momentum, including |
| 0:54.5 | the largest retailer in the U.S. and several others. Positive backdrop on the earning side |
| 0:59.5 | overweighed some geopolitical tension that tended to fade as the day traded on. So we closed it, |
| 1:05.5 | closed down 120 on the Dow, but the S&P was up 40 basis points and the NASDAQ was up over 1%. So there you have it. |
| 1:13.2 | In the economic side, we had new housing starts that disappointed were now back to where we |
| 1:20.3 | were in July, essentially, about a million, 1.31 million on new homes being started. |
| 1:26.1 | Some of that has to do with some of the hurricanes, remember, |
| 1:28.4 | that we've seen in some of the weather that time of year that tends to offset some of these |
| 1:32.6 | things. But it was lower than what was expected. We got 1.31. We're expecting about 1.34 on the day. |
| 1:38.9 | Interest rates moving higher is probably another culprit for some of the housing volatility. On the new |
| 1:43.8 | housing starts. |
| 1:44.9 | There was also new building permits were slightly below consensus as well. There wasn't a lot of |
| 1:50.1 | big news. And frankly, there isn't a lot of economic news tomorrow either. We have more coming |
| 1:55.9 | for you towards the end of this week. And then, of course, we'll get into Thanksgiving week |
| 2:00.6 | where things should be quiet as well. And then, of course, we'll get into Thanksgiving week where things should be |
... |
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