The Dividend Cafe - The Dividend Cafe Thursday - June 27, 2024

Episode Date: June 27, 2024

Market Recap: Equities, Bonds, and Economic Indicators In this episode, David, managing partner at the Bahnsen Group, provides a recap of the latest market activities. Broadcasting from Dallas, Texas, he shares insights on slight movements in the Dow, S&P, and NASDAQ indices, with real estate being the top performing sector. He also discusses minor changes in bond yields and notes that oil prices have remained steady. On the economic front, durable goods orders and housing starts showed underwhelming results. Upcoming is the PCE inflation report, which is significant as it is closely watched by the Fed. 00:00 Introduction and Market Overview 00:29 Equity and Bond Market Performance 01:07 Oil Prices and Economic News 01:45 Housing Market Update 02:19 Upcoming Inflation Report 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. Hello and welcome to the Dividend Cafe Daily Recap. This is David Bonson. I'm the managing partner at the Bonson Group. I'm very happy to be bringing you today's recap. I just arrived in Dallas, Texas, where I have some meetings over the next couple of days and a conference to speak at. My partner in crime,

co-CIO Brian Saitel is in Europe, gets a little day off from today's recording. But nevertheless, it was not a day off in the markets, although it was pretty benign. The Dow up just 36 points. The S&P up nine basis points, basically a little bit better than flat. The NASDAQ was up 30 basis points. The top performing sector today was real estate, which was up almost 1%. Consumer staples were down half of a percent. So not a real big amount of movement in any particular aspect of equities. On the bond market front, though, the 10-year was down three basis points, meaning that bonds were up today. The 10-year closed at 4.29%. Oil prices have stayed right there above $80, up over 1 percent today, closing just a little bit south of $82 a barrel on WTI crude. On the economic news front, the durable goods orders were up 0.1 percent, so just barely up on the month. Or orders were actually down a little on the month.

In both cases, it was pretty underwhelming, not reflecting a real strong amount of new orders and capital expenditures. Housing starts, I'm going to talk more about in the Monday Dividend Cafe, where I do a little more elaboration in housing. But they were down 2.2%. New housing starts for the month of May. That came off of being down at 7.7% on the month in April. And we are stunningly back in new housing starts to where we were in April of 2020 when the whole country was shut down. Absolutely no activity. Tomorrow, Friday, the big inflation report of PCE comes out, personal consumption

expenditures. Not a lot of reason to believe it will diverge a bunch from the CPI number that already came out earlier in the month. But because the PCE is the number widely understood to be more regarded by the Fed, and I think for good reason, there are some eyes on the PCE number coming out tomorrow, Friday, which will be the last market day of the month of June, by the way. I will leave it there in our daily recap. A lot of people will be watching the first presidential debate taking place tonight. If you look at the What's on David's Mind in our daily email today, and of course, the Ask TBG are always posted on the Dividend Cafe website.

But if you look in that email today, what's on my mind are the questions I would like to ask if I were moderator of the debate. But of course, I'm not. Have a wonderful evening. Looking forward to a fun Dividend Cafe tomorrow, Friday, which I will bring to you from Dallas, Texas. Take care. Thank you. will be profitable. Past performance is not indicative of current or future performance and is not a guarantee. The investment opportunities referenced herein may not be suitable for all investors. All data and information referenced herein are from sources believed to be reliable. Any opinions, news, research, analyses, prices, or other information contained in this

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