The Dividend Cafe - The Dividend Cafe Tuesday - June 18, 2024

Episode Date: June 18, 2024

Today's Post - Daily Market Recap and Economic Insights - June 18, 2023 In today's episode of Dividend Cafe, David provides a daily market recap, highlighting a 57-point increase in the Dow (0.15%), a 0.25% rise in the S&P, and a stable Nasdaq. The bond market rally continued with the 10-year yield at 4.21%. Financials led the sectors, while communication services performed the worst. Economic updates include slight retail sales growth and an unexpected rise in industrial production. David notes significant market optimism and mentions Juneteenth's market closure. 00:00 Introduction to Dividend Cafe 00:12 Daily Market Recap 00:17 Market Performance Highlights 00:46 Sector Performance Overview 01:33 Economic Data Insights 01:56 Fund Manager Survey Insights 02:15 Closing Remarks and Announcements 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 daily recap of the Dividend Cafe. This is David Bonson. I wanted to update you on the fact that the Dow closed today up 57 points. That is 0.15%. The S&P was up a quarter of a percent. The NASDAQ was basically flat, up just a tiny bit. Pretty good extension of the bond market rally. The 10-year was down six basis points, closing at 4.21% on the 10-year yield. And in terms of the sectors in the market, financials led the way up 64 basis points. Technology was just below it, up 61. Industrials, energy were all up there around half of a percent. The worst performer of the day was communication services, which was down three quarters of a percent and consumer discretionary that was down about half

a percent. And then you had materials, utilities, consumer staples, all pretty close to flat. Oil prices continued their move up. It was up another dollar on WTI crude oil closing at $80.70, up over 1% on the day. One of the interesting things that happened today is retail sales came out. Markets didn't really move much. They were up 0.1% in the month of May. Industrial production came out for the month of May. It was up 0.9%, which was better than expected. Retail sales were a little worse than expected. So you had some economic data, but it didn't really move the markets much. I found the fund manager survey this morning showing the highest amount of U.S. stock market optimism since November of 2021 to be the biggest

story of the day. And I say that because I am a tried and tested contrarian. So we will leave it there. We encourage you to reach out with questions. Please see dividendcafe.com for some of the latest questions that we seek to answer on a daily basis and look forward to. You know what? I should update you. The market is not going to be open tomorrow. Wednesday, June 19th has been declared the national holiday of Juneteenth. So there will not be a podcast tomorrow as equities, banks, and bonds are all closed for the day. We'll be back with you Thursday. Thanks for listening to Dividend Cafe. The Bonson Group is a group of investment professionals

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