Episode 904: The Dividend Cafe Wednesday - July 24, 2024
Despite the downturn, sectors such as energy, staples, utilities, and healthcare saw positive results.
Despite the downturn, sectors such as energy, staples, utilities, and healthcare saw positive results.
Market Analysis and Sector Performance on July 24th
In this episode of Dividend Cafe, Brian Szytel analyzes the market performance for July 24th from West Palm Beach, Florida. The Dow closed 504 points lower, the S&P fell by 2.31%, and the NASDAQ dropped by 3.64%. Significant declines in Google and Tesla stocks driven by earnings misses led to the NASDAQ's poor performance. Despite the downturn, sectors such as energy, staples, utilities, and healthcare saw positive results. Interest rates slightly increased, with the 10-year yield up by three basis points. Brian discusses the yield curve changes and the economic indicators, including slight misses in new home sales and positive PMI report. Looking ahead, the episode mentions upcoming PCE data and the Fed meeting next week, followed by expectations for Q2 GDP revisions and durable goods orders. The VIX index spiked by 22% indicating heightened market volatility.
00:00 Introduction and Market Overview
00:54 Sector Performance and Interest Rates
01:56 Economic Data Highlights
02:39 Upcoming Economic Events
03:15 Closing Remarks
Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com
Brian Szytel is the Deputy Managing Partner and Co-CIO of The Bahnsen Group.
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