The Dividend Cafe - The Dividend Cafe Tuesday - November 19, 2024

Episode Date: November 19, 2024

Market Update: Positive Earnings Amid Geopolitical Tensions - November 19 In today's episode of Dividend Cafe, Brian Szytel recaps a generally positive day in the market despite geopolitical tensions involving Ukraine and Russia. The bond market saw slight increases, with the 10-year yield closing at 4.40%. The Dow ended down 120 points but recovered significantly from a 500-point drop earlier in the day, driven by positive earnings reports from major companies. Economic news highlighted disappointing new housing starts and building permits, likely affected by hurricanes and rising interest rates. The episode also touches on the ongoing selection of Trump's administrative team. Overall, it was a relatively quiet day with low volatility and no major economic announcements expected in the immediate future. 00:00 Introduction and Market Overview 00:22 Geopolitical Tensions and Market Reactions 01:00 Economic Data: Housing Starts and Permits 01:41 Upcoming Economic News and Market Sentiment 02:04 Political Updates 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. This is Tuesday, November the 19th. Brian Seitel with you here in what ultimately ended up to be a generally positive day in markets. Bonds were a little higher. The 10-year was off about one basis point. We closed at 440 on the yield. Dow ended up closing down 120 points. But earlier in the morning, it was down over 500. And a lot of that was related to geopolitical tension with longer range missiles from Ukraine on Russian soil and some saber rattling from Russia over retaliation and so on. That ended up fading into the day and we had several different pieces of positive earnings

news and momentum, including the largest retailer in the US and several others. Positive backdrop on the earnings side overweighed some geopolitical tension that tended to fade as the day traded on. weighed some geopolitical tension that tended to fade as the day traded on. So we closed it, closed down 120 on the Dow, but the S and P was up 40 basis points and the NASDAQ was up over 1%. So there you have it. In the economic side, we had new housing starts that disappointed. We're now back to where we were in July, essentially at about a million, 1.31 million on new homes being started. Some of that has to do with some of the hurricanes, remember, that we've seen and some of the weather

that time of year that tends to offset some of these things. But it was lower than what was expected. We got 1.31. We're expecting about 1.34 on the day. Interest rates moving higher is probably another culprit for some of the housing volatility on the new housing starts. There was also new building permits were slightly below consensus as well. There wasn't a lot of big news. And frankly, there isn't a lot of economic news tomorrow either. We have more coming for you towards the end of this week. And then of course, we'll get into Thanksgiving week where things should be quiet as well. So all this to say, a fairly quiet day. Volatility was down. Markets were generally higher, although not that much. Trump is continuing to select his administrative team, his cabinet, people that are going to join him in his administration.

And that is getting some of the major news. David had a nice write-up about that today in there that I'll let you read through, being the political commentator that he is and myself less so. So something else you didn't know about me there. But all that to say, I'm going to let you go for this evening. I know this is a shorter recording, but that's the day that we had. And I'll be back with you tomorrow, which will be Wednesday on Dividend Cafe. I hope you have a lovely evening. Please reach out with your questions. 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.

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