The Dividend Cafe

In this week's Dividend Cafe we focus on the trade-off of volatility and expected returns

• A market summary of the week that just was

... and so much more

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The market missed out on its first five consecutive days of price increase by dropping 135 points today …

Initial jobless claims came in at 1.3 million for the week, a tad higher than 1.25 million expected. Continuing claims dropped to 17.3 million, a bigger drop than expected and now down 30% from the 25 million high of March. Retail sales were up +7.5% in June vs. +5% expected.

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The market closed up 230 points today, zig-zagging around most of the day after opening up +350 points.

The driver was optimism around vaccine talk (and it is not just one source of optimism, as you will see in today’s Health Data). Earnings season is too young to be much of a driver but I selfishly like what I have seen so far. Let’s jump around the bend as always …

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Futures were up close to a hundred points last night, vacillating between the flat line and +100, at 3:30am ET this morning they were flat, and by 4:00am they were +100. But really it was all worthless until bank earnings started coming in, and when the first mega-bank reported their results, futures had a mixed response (some names up, some names down) The market opened up a bit and throughout the day grinded higher. Bottom line, by 4pm ET, the market closed up 557 points, and the Nasdaq even ended up despite moments of big sell-off mid-day.

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This is the replay of the Market Outlook National Video Call with David L. Bahnsen and Scott Gamm.

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