The Dividend Cafe Tuesday - November 5, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 5 November 2024
⏱️ 4 minutes
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Summary
Election Day Market Update: Positive Movements and Economic Insights
On Tuesday, November 5th, Brian Szytel provides a market update from West Palm Beach, Florida. Despite the busyness of election day, the markets showed positive movement, with the Dow rising 427 points, the S&P up 1.25%, and the Nasdaq up 1.4%. Bond yields also saw a slight drop. An anecdote features a sighting of Trump's motorcade. Economic highlights include a strong ISM services number for October, the highest in two years, and a notable increase in the trade deficit for September. The mix of higher growth and lower inflation figures contributed to the day's market optimism.
00:00 Introduction and Market Overview
00:40 Election Day Anecdote
01:14 Economic Data Highlights
01:51 Trade Deficit Insights
02:23 Conclusion and Sign Off
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. |
| 0:10.0 | It is Tuesday, November the 5th, and Brian Saitel with you here from our West Palm Beach, Florida office. |
| 0:20.0 | And on a generally positive day, look, it's election day. |
| 0:24.4 | So there's a lot of things going on. |
| 0:26.0 | A few pieces of information in the economic calendar that were also positive. |
| 0:30.2 | But markets were up the Dow, closed up 427 points on the day, which is just over a percent. |
| 0:36.5 | The S&P was up about a percent and a quarter, |
| 0:39.3 | and the NASDAQ was up about 1.4%. Bon yields pulled back just slightly, down two basis points on |
| 0:46.4 | tens. We closed at 427. A bit of a rally here in stocks and also in bonds as well. And anecdotally, just from the office, we're on the |
| 0:55.9 | 10th floor here. And I was in a meeting with some clients and looked out the window and saw |
| 1:00.7 | a barricade of about 30 Secret Service and police and motorcycles and ambulances, all the |
| 1:07.9 | sirens on and everything, which was obviously Trump coming from his |
| 1:12.2 | place in Marlago into West Palm Beach. So a funny little story there here on Election Day, |
| 1:18.7 | but I won't go into the political side too much, and I don't know that we'll frankly know |
| 1:23.6 | a whole lot by the end of the night, but fingers crossed. On the economic front on the day, there was an ISM services number for the month of October |
| 1:32.9 | that was out pretty handily over a consensus. |
| 1:35.7 | We got a 56, we thought it was going to be a 54, and so that's strong. |
| 1:39.7 | It's actually the strongest number on the services side that we've had in about two years, and it is an expansion |
| 1:45.6 | figure there on the services side. But also in that number, there was an inflation data point |
| 1:51.8 | that was lower than expected. So you had porridge is just right. You had stronger growth numbers, |
| 1:56.5 | but then he had lower price numbers in there. So it was an nice little mixture there, and I think |
| 2:00.2 | that was a little boost, at least on the stock side. The trade deficit for the month of September, shocker, was up more than expected. It was up 19.2%. We were at 84.4 billion for the month. So if you do some quick math and multiply it by 12, that's just about a trillion on the |
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