The Dividend Cafe Wednesday - September 11, 2024
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 11 September 2024
⏱️ 6 minutes
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Summary
September 11 Market Update and Inflation Insights
In this episode of Dividend Cafe, host Brian Szytel begins with a somber remembrance of the September 11 terrorist attacks, offering thoughts and prayers to those affected. He proceeds with market commentary, noting an initial drop and subsequent recovery, likely influenced by the recent debate between former President Trump and Vice President Kamala Harris. Szytel discusses key inflation data, highlighting that the Consumer Price Index (CPI) numbers are in line with Federal Reserve targets. He also touches on the implications for upcoming interest rate decisions and the balance sheet. Finally, Seitel provides a preview of forthcoming economic data, including initial jobless claims and the Producer Price Index (PPI).
00:00 Introduction and Remembrance of 9/11
00:33 Market Opening and Debate Impact
01:05 Market Performance and Analysis
01:51 Inflation Data and Federal Reserve Expectations
03:34 Upcoming Economic Indicators and 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 and dividends in your understanding of economic life. |
| 0:13.0 | Welcome to Dividend Cafe. This is Wednesday, September the 11th. Brian Saitel with you here as always and good to be with you. And before I get into the market |
| 0:22.2 | commentary on the day, just a note for all of those that were directly affected by the September |
| 0:27.2 | 11th terrorist attack 23 years ago, my thoughts and prayers go out every year to you. And I certainly |
| 0:33.9 | know where I was and what I was doing exactly at those awful moments that we all witnessed on television. |
| 0:39.2 | A lot of us firsthand. So somber day for us as Americans here on September the 11th. |
| 0:44.7 | With that aside, and into markets, we opened the day actually quite a bit lower on the morning. |
| 0:50.9 | There was a couple of different nuances in markets. Some individual stocks were down |
| 0:54.9 | quite a bit on different pieces of news, but it was following the debate of the previous evening |
| 1:00.3 | between former President Trump and current Vice President Harris, and some of that may have |
| 1:06.3 | moved markets a little bit. But frankly, by mid-morning and then certainly through the close, |
| 1:10.7 | most of that was the shrugged off. And we ended up closing quite a bit higher on the day. The Dow was up |
| 1:16.0 | 124 points. The S&P was up over a percent, and the NASDAQ was up over 2% on the day, |
| 1:22.5 | with the 10-year just up about a basis point at 3.66%. So, gosh, you know, how to relate what the debate did or |
| 1:29.6 | didn't do in markets, frankly. I think those that were looking for Harris to do better than |
| 1:36.4 | Trump got what they wanted. I think those that are fans of Trump are still friends of Trump, |
| 1:41.0 | and the polls definitely show that Harris was the victor. But since it's still a 50-50 |
| 1:45.8 | election at this point, it's a very tight race. We've got several months here to go before the election. |
| 1:51.1 | So I think the markets are moving past it as they should onto what fundamentals are. And from a |
| 1:56.9 | fundamental perspective, we had inflation numbers out today. CPI was out on the headline number |
| 2:02.7 | at 0.2% for the month, which was exactly what was expected. We're now at a 2.5% year over year number |
| 2:09.8 | on inflation. This is right around where the Federal Reserve was targeting, pretty close. |
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