Wednesday - July 1, 2026
The Dividend Cafe · Jul 1, 2026 · 6:36
The Dividend Cafe · Jul 1, 2026 · 6:36
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Brian Szytel recaps a down, rotation-driven market day from West Palm Beach, with the Dow near flat, the S&P 500 slightly lower, and the Nasdaq weaker amid a sharp semiconductor sell-off (down 5–10%) even as some software and communication services names rose. He cites strong Korean AI chip export growth (70% year over year) but suggests investors may be pricing semis for perpetually outsized growth and reacting to signs of a peak growth rate. Inflation commentary helped rates ease slightly and the yield curve steepened marginally, though the 10-year Treasury ended around 4.48%. Economic data included ADP private payrolls at 98K (below expectations), ISM manufacturing at 53.3 (expansion), and weak construction spending, reflecting housing softness tied to higher rates. He previews a holiday-shortened week and Thursday’s nonfarm payrolls report.
00:00 Market Open Recap
00:24 Semis Selloff Explained
00:49 Korea Chip Demand Peak
01:34 Rates and Fed Talk
01:53 Index Closes and Yields
02:08 Economic Data Rundown
02:53 Housing Softness
03:31 Rotation and Small Caps
03:48 Jobs Report Preview
04:28 Wrap Up and Sign Off
Links mentioned in this episode: DividendCafe.com
