Thursday - July 16, 2026
The Dividend Cafe · Jul 16, 2026 · 7:38
The Dividend Cafe · Jul 16, 2026 · 7:38
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Brian Szytel hosts Dividend Cafe on Thursday, July 16, describing a down market day driven by rotation out of tech and semis, with the Nasdaq down 1.5% versus modest declines in the Dow and S&P, and equal-weighted S&P outperforming cap-weighted by over 160 bps. He highlights ongoing housing weakness: existing home sales at the lowest pace since 1995, affordability pressures with mortgage payments rising from about $1,700 to $3,100 since 2020, and record home equity (~$11T) contributing to illiquidity as most homeowners have rates below current levels. He addresses financials’ July strength, noting they signal economic health but appear fairly to slightly richly valued around 2x price-to-book. Economic data was mostly positive (retail sales +0.2%, Philly Fed 41 vs 13, claims 208 vs 218) while housing data disappointed (builder sentiment down, pending sales -5.6%).
00:00 Market Wrap and Rotation
00:47 Housing Market Stuck
01:23 Affordability and Equity
03:08 Financials Sector Question
04:36 Economic Data Rundown
05:12 Housing Data Misses
05:37 Closing Thoughts
Links mentioned in this episode: DividendCafe.com
