The Dividend Cafe Wednesday - August 28, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 28 August 2024
⏱️ 4 minutes
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Summary
Midweek Market Recap and NVIDIA Earnings Breakdown - August 28, 2023
In this episode of Dividend Cafe, Brian Szytel discusses the performance of the stock market on a relatively uneventful day, with the Dow dropping 159 points, the S&P 500 down by 0.6%, and the NASDAQ falling by 1.12%. Bonds remained unchanged, while the dollar showed slight strength. The highlight of the day was NVIDIA's anticipated earnings, which surpassed expectations but resulted in a stock drop due to high valuations. Looking ahead, Brian previews key data releases for the next day, including initial jobless claims, trade and inventory data, a revision of Q2 GDP, and pending home sales.
00:00 Introduction and Market Overview 00:54 NVIDIA Earnings Report 01:18 Upcoming Economic Data 01:59 Conclusion and Sign Off
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. |
| 0:12.4 | Welcome to Dividend Cafe this Wednesday, August the 28th. |
| 0:16.7 | And Brian Saitel with you here on a somewhat of a down day and really devoid of particularly anything notable on the economic calendar today to go through. |
| 0:27.3 | But the Dow ended up closing down 159 points. |
| 0:30.6 | The S&P 500 was down about 6 tenths of a percent. |
| 0:34.3 | And the NASDAQ was down about 1.12% on the day. So a little bit more a tech |
| 0:40.0 | heavy on the sell-off. Bonds were completely unchanged. The yield on the 10-year closed at |
| 0:45.1 | 384. It might have been up about 8 tenths of one basis point. It's pretty flat in the bond market. |
| 0:50.5 | The dollar was slightly stronger. So just a bit of give back in the stock market. |
| 0:55.2 | The biggest news, and I think David summed it up really well in what's on David's mind about |
| 1:00.1 | Nvidia's earnings that were so heavily anticipated and asked about. And I'll just segue into now |
| 1:06.2 | knowing what they are, which is that both revenue and earnings beat and the stock is down in after hours |
| 1:11.6 | because it's already priced to perfection. It's trading at 65 times earnings. So there you go. |
| 1:17.7 | Tomorrow we'll have much more to go through. We'll have initial jobless claims. We're expecting |
| 1:22.5 | $230,000. I actually do think that number is going to matter tomorrow based on the shift from inflation |
| 1:28.8 | talk to now employment. So we'll keep an eye on the initial jobless claims tomorrow. We'll have |
| 1:33.4 | some other data on both trade and inventories on the wholesale side. And then we'll have a second |
| 1:39.1 | revision number out on Q2 GDP. We're expecting about 2.8 percent. so unchanged. We also have some pending home sales out. So all that to say, fairly quiet day in markets. Yes, to the negative here a little bit, not a lot of news. So there's not a lot of sense in me spending more time with you here today, although I love to. But tomorrow we'll have a whole lot more to go through, and I'll be back with you. I wish you a lovely Wednesday evening and reach out with your questions, please. Thank you. |
| 2:06.7 | The Bonson Group is a group of investment professionals registered with Hightower Securities LLC, |
| 2:11.0 | member FINRA and SIPC, and with Hightower Advisors, LLC, a registered investment advisor with the SEC. |
| 2:19.5 | Securities are offered through Hightower Securities LLC. |
| 2:22.5 | Advisory services are offered through Hightower Advisors, LLC. |
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