The Dividend Cafe Tuesday - October 8, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 8 October 2024
⏱️ 4 minutes
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Summary
Market Updates and Economic Concerns on October 8th
In this episode of Dividend Cafe, Brian Szytel provides an overview of the financial markets on October 8th. The Dow closed up by about 126 points, and the S&P and NASDAQ showed positive returns as well. Interest rates showed a slight downward movement, and a bond auction did not meet expectations. The NFIB Small Business Optimism Index rose marginally, but remains lower than the historical average. Concerns loom over the upcoming election and its effects on taxes and inflation. Market concerns also focus on Hurricane Milton, which has been downgraded to a category four storm but still poses a significant threat to central Florida. The U.S. trade deficit was slightly lower than expected, due to increased oil exports. The host extends thoughts and prayers to those affected in Florida and invites listener questions.
00:00 Introduction and Market Overview
00:08 Economic Calendar and Market Performance
00:44 Small Business Optimism and Economic Concerns
01:23 Hurricane Milton Update
02:01 Trade Data Insights
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. |
| 0:13.0 | Welcome the Dividend Cafe. This is Tuesday, October 8th. |
| 0:17.0 | Brian Saito with you here on a slightly positive day in markets, fairly quiet actually |
| 0:22.6 | in the economic calendar, but we had a Dow that closed up about 126 points on the day, pretty close |
| 0:29.8 | to the highs on the session, which was good to see. The S&P was up almost 1% and the NASDAQ was up |
| 0:36.2 | about 1.5%. And we had some interest rates move a little |
| 0:41.0 | lower across the curve. The yield curve steepened a little bit. So we had short-term rates fall a little more |
| 0:45.5 | than long. But we closed at 4.01 on 10s on the day. There was a $5 billion three-year auction |
| 0:52.0 | that came out a little softer than expected in |
| 0:55.5 | bondland. |
| 0:56.7 | So there you have it on the market. |
| 0:58.0 | As far as news goes, there was an NFIB small business optimism survey that came out |
| 1:04.2 | marginally higher in September. |
| 1:06.3 | It was up about a third of a percent in 91.5. |
| 1:10.3 | Those numbers are somewhat arbitrary, but just historically, |
| 1:13.7 | the average is more closer to the 98 level. And so this is on the lower end of that. And |
| 1:18.4 | small businesses are concerned about what tax rates will be and who's going to be in the White |
| 1:22.5 | House, where inflation will come in, where interest rates are going to go. Of course, all those |
| 1:26.1 | things that go into that and the uncertainty index inside of that was definitely at a height level, primarily again, around uncertainty with what's going to happen on the election side. |
| 1:36.6 | There was continued concern and worry and, frankly, money movement around the Hurricane Milton, which is headed for central Florida now |
| 1:48.5 | from the Gulf of Mexico. It was category five. It's been now downgraded to a category four, |
| 1:54.5 | but it's still expected to be very strong when it hits Florida. And our thoughts and prayers go out |
... |
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