10 Year Yield Rises To Highest Level In 24 Years

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October 7, Wednesday. Taking a look at the markets. All the major markets are lower today on bond yields. 10-year treasury sits at 5.31%.

Gold is underperforming today down 1.4% to 41.27 an ounce. Bitcoin down 3% to 83,025 dollars. That's down about 2,600 bucks. The SP 500 is down one half of 1%. Down 43 points to sit at 77.75. Dow Jones Industrial Average down 1%, sitting at 50,975.

The Nasdaq is trading down two thirds of 1%, down 182 points, sitting at 27,418. And the Russell 2000, down 1.3%, sitting at 2792 We've got Patrick O'Hare on in the second segment today. He'll be talking about current market conditions. Oil prices have now climbed above $100 on the Strait of Hormuz attacks and a Gulf Storm threat. Tim Tebow has dropped out of a paid Christian event after being accused of using high pressure sales, pushing courses up to $40,000. Can you imagine paying $40,000 for a course tied towards money or tied towards confidence? Be very cautious with. I've got a friend who spends a lot of money on self-improvement seminars.

So in spending $10,000 to $40,000 on investment courses that range from roughly $10,000 to $40,000, like I said, it's just to me, buy an index fund, go to the library, read a book on Warren Buffett or Jack Bogle from Vanguard.

I don't get chasing things like that. But with that said, I understand a lot of people believe others have the secrets. I don't think that's the case. That's why I do this show. Right now, Nike is struggling, but they could return to F1 for the first time since the Michael Schumacher era. McDonald's barrage of deals is not winning customers back. There's a lot of stories out there about the consumer, and they're struggling, and yet the unemployment rate is pretty darn good.

SpaceX is slipping a day on a report of its $40 billion in new debt for Nvidia chips. So when they issue new debt and the debt yield has climbed one percentage point in the last month, what do you think that means? That means they're borrowing at higher costs. Of Note Day in tech, Apple is a winner. It continues to do this weird thing that it seems to eke out gains when most of tech is getting routed. So it's seen as a safety play on AI or safety play on tech. It's when tech rips tie towards AI, Apple sometimes underperforms, but today it's up a buck 85, up one half, 1%. I'm seeing Meta's down 2.2%, Nvidia's down 1%, about one third of a percent. Amazon just went positive. But you get the idea. I don't have to beat up that horse for too much longer. For the year, the Brent crude's up 66%. That's affecting inflation, airfares, diesel prices, farming equipment. Uber's lifts, food costs. Food has to be transported from a farm to a store. That ain't cheap. So oil's been a bit of a problem this year. And we were promised a four-week war. We're in seven months, eight months at some point in time and counting. There's no doubt 2026 is going to go down as a year of inflation.

We're not going to wipe out in two-and-a-half months the inflationary effects that we've gotten. EMAG 7's up 12% year-to-date. Russell 2000's up 14%. The Nasdaq's up 18.75. The S&P 500's up 14.2%. And the Dow Jones Industrial Average up 7.19%. Those are all phenomenal numbers. You can't say the market's having a bad year. Constellation brands, they grew sales in the quarter. They make Corona and Modelo beer. They beat Wall Street expectations. Beer sales grew 5%. 2.47 billion. The company said it shipped slightly more cases of beer to distributors looking to rebuild inventory that were depleted or sold through root retail locations. This is running into GOP1's weight loss. It's also running into Generation Z.

And drinking less alcohol and maybe doing a little more weed. So it's a trend that I'm not interested in. Historically, I would have been, but the last five years has broken my thought on wine and spirits as a category.

With Generation Z just saying less, COVID pushed up alcohol consumption, and it's since fallen.

Interesting to note, we're still talking COVID.

Kind of hate it, but it's what I do.

So the SP 500 closed above 7,800 for the first time yesterday, led by gains in chipmakers. Yesterday, bond yields eased. Today, they're tightening.

Stocks have gotten cheaper since January, which is ironic since we're hitting all time highs. Nancy Tingler, CEO at Leifer Tingler. She said, I don't mind multiple compression because it tells me that this bull market is sustainable and it elongates it. I like where we sit for this bull market and earnings growth does ultimately drive stock price performance.