The Dividend Cafe - The Dividend Cafe Tuesday - November 5, 2024

Episode Date: November 5, 2024

Election Day Market Update: Positive Movements and Economic Insights On Tuesday, November 5th, Brian Szytel provides a market update from West Palm Beach, Florida. Despite the busyness of election day, the markets showed positive movement, with the Dow rising 427 points, the S&P up 1.25%, and the Nasdaq up 1.4%. Bond yields also saw a slight drop. An anecdote features a sighting of Trump's motorcade. Economic highlights include a strong ISM services number for October, the highest in two years, and a notable increase in the trade deficit for September. The mix of higher growth and lower inflation figures contributed to the day's market optimism. 00:00 Introduction and Market Overview 00:40 Election Day Anecdote 01:14 Economic Data Highlights 01:51 Trade Deficit Insights 02:23 Conclusion and Sign Off 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. It is Tuesday, November the 5th, and Brian Seitel with you here from our West Palm Beach, Florida office. And on a generally positive day, look, it's election day, so there's a lot of things going on. A few pieces of information in the economic calendar that were also positive, but markets were up. The Dow closed up 427 points on the day, which is just over a percent. The S&P was up about a percent and a quarter, and the NASDAQ was up about 1.4%. Bond yields pulled back just slightly, down two basis points on 10s. We closed at 427. Bit of a rally here in stocks and also in bonds as well. And anecdotally, just from the

office, we're on the 10th floor here. And I was in a meeting with some clients and looked out the window and saw a barricade of about 30 Secret Service and police and motorcycles and ambulances with all the sirens on and everything, which was obviously Trump coming from his place in Mar-a-Lago into West Palm Beach. So a funny little story there here on election day, but I won't go into the political side too much. And I don't know that we'll frankly know a whole lot by the end of the night, but fingers crossed. On the economic front on the day, there was an ISM services number for the month of October that was out pretty handily over a consensus. We got a 56, we thought it was going to be a 54. And so that's strong. It's actually the strongest number on the services side that we've had in about two years. And it is an expansion

figure there on the services side. But also in that number, there was an inflation data point that was lower than expected. So you had porridges just right. You had stronger growth numbers, but then you had lower price numbers in there. So it was a nice little mixture there. And I think that was a little boost, at least on the stock side. The trade deficit for the month of September, shocker, was up more than expected. It was up 19.2%. We were at $84.4 billion for the month. So if you do some quick math and multiply it by 12, that's just about a trillion on the year. Although that number was high, it was just basically in line with consensus on trade. Gosh,

maybe that talk of trade will just be my segue into letting you get into your evening and watching whichever news channel you'd like to see how some of these results start coming in hours from now. But with that, I will let you go for the evening. Reach out with your questions as always. We really do appreciate them very much. And I'll be in touch with you soon. Thank you again. Bye-bye. 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's no guarantee that the investment process or Thank you. data and information referenced herein are from sources believed to be reliable. Any opinions, news, research, analyses, prices, or other information contained in this research is

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