Wednesday - September 24, 2025
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 24 September 2025
⏱️ 9 minutes
🧾️ Download transcript
Summary
Market Recap and Economic Insights: Tariffs, Corporate Taxes, and Housing Trends
In this episode of Dividend Cafe, dated Wednesday, September 24, host Brian Szytel provides a market recap from Newport Beach, California. The DOW dropped 171 points, S&P and Nasdaq declined by approximately 0.3%, and there was a minor increase in 10-year bond yields. Szytel shifts focus from daily market movements to broader economic themes, discussing the ongoing impacts of tariffs on the economy, corporate earnings, and tax revenues. He notes a $96 billion increase in tariff-related revenues but a $108 billion decrease in corporate tax receipts due to recent legislation. Additionally, there's an anticipated $150 billion in tax refunds, which could boost the economy. Szytel also addresses the performance disparity between U.S. and Canadian midstream energy stocks and the influence of corporate structures on investment returns. Finally, he reports a significant rise in new home sales and median home prices for August, while annual growth remains below inflation levels.
00:00 Introduction and Market Recap
00:58 The Impact of Tariffs on the Economy
02:51 Corporate Tax Revenue and Consumer Impact
04:29 Midstream Energy Stocks Analysis
06:04 Housing Market Update
06:42 Conclusion and Sign Off
Links mentioned in this episode: DividendCafe.com
Transcript
Click on a timestamp to play from that location
| 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. |
| 0:12.1 | Welcome back into Dividend Cafe. This is Wednesday, September the 24th. |
| 0:17.7 | Brian Saitel with you here from our Newport Beach office here in California on a overall |
| 0:24.0 | slightly down day in markets, about a third of a percent overall across each of the three |
| 0:29.4 | indexes. You've got Dow that was down 171 points and S&P down about point three, NASDAQ down about |
| 0:36.2 | point three. So you had a little tick up in yields on tenure. You had a four bases point move up. You had a four 15 close on tens. So there you have it on your market recap. But what I want to use these podcasts for more often than not is to talk to you about some things that I feel are more relevant and more |
| 0:56.0 | important to each of the listeners that may be on this podcast today. And so I'm going to do a little |
| 1:01.1 | less of day-to-day market machination because I really don't think that is quite as important |
| 1:05.4 | and I don't think it's as impactful to listen to. And I want to talk a little bit more qualitatively |
| 1:10.2 | about what I'm seeing. One of those things is a very big topic that we've talked about the entirety of 2025, which is the tariff talk and whether it's going to tank the economy, whether it's going to hurt global trade, whether it's going to do this or that. And of course, there's a political overlay on top of that, |
| 1:27.8 | whether someone is for or not, the current administration, I think. But aside from that, |
| 1:34.7 | just the overall tariff experiment has been really one to watch. And now that we're, |
| 1:39.3 | what I've called rounding second base here, we're not quite to a point of being able to say that it's concluded |
| 1:44.7 | or anything close to that, but we can start to see what it's doing from the standpoint of the |
| 1:49.7 | economy, from the standpoint of corporate earnings, and from the standpoint of tax revenue into |
| 1:55.2 | the Treasury. So how does the scorecard look? What we've seen so far is corporate profits in the earnings |
| 2:01.9 | that have come out have actually been just fine. So you've got some corporations that have |
| 2:05.7 | absorbed some of the tariff amounts, some that have been less affected. We've definitely |
| 2:10.2 | seen some supply chains start to shift around the world. That's been an ongoing topic since |
| 2:15.0 | the pandemic. But actually, earnings have been okay on the corporate side. |
| 2:19.4 | But what you have seen is that revenue into the Treasury has gone up on the tariff side. |
| 2:25.0 | So let's call it about $96 billion has flowed into the Treasury, what is effectively |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from The Dividend Cafe - The Bahnsen Group, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of The Dividend Cafe - The Bahnsen Group and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.