Daily Market Update: Record Closes and Economic Revisions
In this episode of Dividend Cafe, Brian Szytel discusses the record-high closes on the DOW, S&P, and Nasdaq, noting a significant boost in the last 30 minutes of trading. He reviews year-to-date market performance and the recent revision in non-farm payroll numbers, which saw a considerable downward adjustment. The episode also covers the unusual yield curve movements, expectations for potential Fed rate cuts, and upcoming economic indicators such as the PPI and CPI numbers. Additionally, small business optimism has ticked up, reflecting a more confident outlook. The bond market's reaction, particularly the decline in 10-year yields, is analyzed, indicating potential continued strength in long-duration investments.
00:00 Introduction and Market Overview
01:02 Employment Data and Revisions
02:24 Yield Curve and Interest Rates
03:20 Economic Indicators and Small Business Sentiment
03:59 Bond Market and Long Duration Investments
04:40 Conclusion and Upcoming Events
Links mentioned in this episode: DividendCafe.com