The Dividend Cafe Wednesday - July 10, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 10 July 2024
⏱️ 6 minutes
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Summary
Market Updates & Economic Insights — July 10, 2023
In the latest episode of Dividend Cafe, Brian Szytel discusses the positive performance in the stock markets, with the Dow, NASDAQ, and S&P all up by over 1%. The episode covers the seventh consecutive session of gains for the S&P and NASDAQ, and touches on bond market updates including a positive 10-year auction. Key economic events include Jerome Powell's testimony on inflation, wholesale inventories data, and upcoming CPI figures. The episode also delves into Japan's unique monetary policy approach and its economic implications. Looking ahead, the focus will be on initial jobless claims and the new CPI data release.
00:00 Market Update: July 10th
00:32 Positive Trends in Stocks and Bonds
00:45 Federal Reserve Insights and Economic Indicators
01:42 Anticipation for CPI Data
02:04 Japan's Unique Monetary Experiment
03:56 Looking Ahead: Jobless Claims and CPI
04:01 Closing Remarks
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 |
| 0:06.5 | and dividends in your understanding of economic life. |
| 0:12.2 | Welcome to Dividendin Cafe this Wednesday, July the 10th. It's Brian Saitel with you here. |
| 0:18.4 | Today on a nice up day in markets, the Dow closed up about 429 points |
| 0:23.1 | on the day, which was over 1%. We actually had 1% up across the Dow, the NASDAQ, and the S&P on the day. |
| 0:31.3 | The S&P and the NASDAQ were up. This is the seventh straight session that they've been up, and they |
| 0:36.3 | technically recorded |
| 0:37.9 | some intraday all-time high. So a positive day in stocks and then also in bonds rallied a little bit. |
| 0:44.3 | There was a positive 10-year auction, about $39 billion that went off. Rates are down about one |
| 0:49.5 | basis point, closed at 428 on tens. So other than that, fairly positive day. Uninventful, for the most |
| 0:55.9 | part, in the economic calendar, there was a testimony from Powell to the house where he basically |
| 1:02.0 | said that he doesn't need to see 2% exactly on inflation. He needs to see and be confident that the |
| 1:08.0 | trajectory to getting to 2% is happening. If you wait until 2, you would overshoot it, in other words. |
| 1:13.8 | So it's like the old skate to where the puck is going. |
| 1:16.7 | Idea there. |
| 1:17.6 | Obviously, it's intuitive and makes sense. |
| 1:20.0 | But I guess healthy that he's including some of these things in his narrative now on decreasing interest rates. |
| 1:26.4 | We also had wholesale inventories, had a positive |
| 1:29.4 | month. They were at 0.6%. It's a little bit counterintuitive, which is you get a build in wholesale |
| 1:34.3 | inventories, and it's showing you a little leading indicator on potentially some softening in |
| 1:39.5 | consumer demand there. But it was 0.1% the month prior. So that's where we are there on the day. |
| 1:46.3 | Tomorrow, it seemed to me that the market melted higher throughout the end of the session, |
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