The Dividend Cafe - The Dividend Cafe Thursday - June 20, 2024

Episode Date: June 20, 2024

Market Update: Mixed Indices and Economic Indicators In this episode of Dividend Cafe, recorded on Thursday, June 20th, we discuss the mixed performance in the stock market where the Dow closed up nearly 300 points, while the S&P and NASDAQ saw slight declines. Key sector movements included a 2% rise in energy and a 1.4% drop in information technology. Jobless claims were slightly higher than expected at 238,000, and the Philly Fed index showed weaker-than-expected manufacturing numbers. Housing starts fell by 5.5% for the month, alongside disappointing building permit figures, suggesting potential impacts from interest rates and seasonal factors. Upcoming economic data include PMI and existing home sales. The episode wraps up with well wishes and an invitation for audience questions. 00:00 Welcome and Market Overview 00:27 Sector Movements and Jobless Claims 01:04 Economic Indicators and Housing Data 01:39 Upcoming Data and Conclusion Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com

Welcome to the Dividend Cafe, weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life. Welcome to Dividend Cafe. It is Thursday, June the 20th. And what was an update, at least for the Dow, we closed up 300 points, almost 300 points, 299 on the Dow. And actually the both the S&P and the NASDAQ closed a little lower. The NASDAQ and the Dow, interestingly, were almost like mirror images on the day where the Dow closed essentially at the highest for the day in that index, and the NASDAQ was right at the lows for its numbers on the day. But notable sector movers,

energy was up 2%. Information technology was down 1.4%. So quite a divergence in different parts and sectors of the market. We had jobless claims today come out basically in line. We were expecting 235. We got 238. So this is a little higher level than what we've had for probably the last average of six months, maybe closer to the 210 level. So we've creeped a little higher, but still pretty healthy in jobs. And I'd say anything above or anything below, sorry, about 270 is probably not a big deal as far as news and market moving expectations. We had the Philly Fed today had weaker than expected numbers. We're expecting a five handle. We got a 1.3 for the month of June.

So that's a little weaker in manufacturing for the day on the economic front. And we had new housing starts down five and a half percent for the month, which is a good amount lower. Building permits were also a disappointing figure as well. So some weak numbers in housing, obviously it's most likely attributable to interest rates. Could also be attributable to this time of year, summer months, but nonetheless, some weaker numbers in housing. Tomorrow we'll have PMI data out in there and existing home sales in the economic front to go through. We'll also obviously have the dividend cafe and topical long form format for you. And with that, I will let you go for the evening. I hope everyone enjoyed their, or at least for the markets, their day off from yesterday on Juneteenth. But I'll let you go for the evening. I wish you all well. If I don't speak to you,

have a good weekend. Please reach out with your questions as always, and I hope to talk to you soon. Thank you. The Bonson Group is a group of investment professionals registered with Hightower Securities LLC, member FINRA and SIPC, with Hightower Advisors LLC, a registered investment advisor with the SEC. Securities are offered through Hightower Securities LLC. Advisory services are offered through Hightower Advisors LLC. This is not an offer to buy or sell securities. No investment process is free of risk. There is no guarantee that the investment process or investment opportunities referenced herein will be profitable. Past performance is not indicative of current or future performance and is not a guarantee. The investment opportunities referenced herein may

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