The Dividend Cafe Wednesday - November 20, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 20 November 2024
⏱️ 7 minutes
🧾️ Download transcript
Summary
Market Recap and Insights: November 20th Edition
In this episode of Dividend Cafe, Brian Szytel discusses the mixed market performance for Wednesday, November 20th, with the Dow down 120 points, S&P down 0.1%, and Nasdaq down 0.25%. He provides updates on the 10-year yield, which increased by 2 basis points, resulting in a slightly positive yield curve. Brian also touches on large-cap tech earnings, potential U.S. Treasury Secretary candidate Mark Rowan, and the market's response to previous and potential future Trump administration policies. He highlights upcoming economic data releases, including initial claims, Philly Fed manufacturing data, existing home sales, and University of Michigan Consumer Sentiment PMI data. Lastly, comments from Fed Governors Cook and Bowman on interest rates and inflation are mentioned.
00:00 Introduction and Market Overview
00:47 Economic Data and Earnings Reports
01:06 Political Developments and Market Implications
02:35 Interest Rates and Economic Cycles
03:25 Corporate Tax Rates and Future Outlook
04:25 Upcoming Economic Data
04:42 Conclusion and Sign-Off
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. |
| 0:12.0 | Welcome the Dividend Cafe. This is Wednesday, November the 20th, Brian Saitel with you here on a bit of a mixed day in the market. |
| 0:20.0 | The Dow, it's actually the more or less the opposite of yesterday. |
| 0:23.4 | The Dow was up 122 points. |
| 0:25.4 | Yesterday it was down 120. |
| 0:27.4 | The S&P was down about a tenth of a percent. |
| 0:31.1 | And the NASDAQ was down about a quarter of a percent. |
| 0:34.3 | So again, a bit of the opposite from yesterday. |
| 0:36.9 | The tenure was actually up two basis points on the day. We closed at 441. And the yield curve, which uninverted, is now 10 basis points positive between 2s and 10. So yes, uninverted. I don't know if I'd call that more than a hair over flat, but technically 10 basis points between twos and tens. |
| 0:57.9 | So there's your market wrap on the day, fairly quiet. |
| 1:00.7 | As I said yesterday, there's not a lot of economic data out really until the end of this week. |
| 1:05.9 | And so yesterday and today were a little quieter on the economic front. |
| 1:08.8 | But still plenty to talk through. |
| 1:10.4 | A lot of earnings coming out, including in some large cap technology names that David wrote about. |
| 1:15.1 | And you can read through that. The stock's down, even though on an earnings beat, this stuff just gets |
| 1:19.8 | priced to perfection. And that's the comments that we've had about some of those names over for a very long time now. |
| 1:26.4 | But more to go there with the remaining earnings. |
| 1:30.3 | Some of the talk actually on in the political side, |
| 1:33.3 | Mark Rowan, who was the ex-founder CEO of Apollo, |
| 1:38.3 | is looking like more of a candidate for US Treasury Secretary. |
| 1:42.3 | There was a meeting today. |
| 1:43.3 | So we'll see how that unfold, |
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