Afternoon podcast 10-15-26

SPEAKER_1 (0:00)

Welcome to the afternoon Rob Black Show podcast, a guaranteed human podcast, which can also be heard on AM 1220 KDOW weekdays at 5 p.m. and on 860 AM The Answer weeknights at 11 p.m. The views and opinions expressed in the program are not necessarily those of this radio station or its sponsors and should not be construed as legal tax or investment advice. You should always consult the appropriate advisor before making any financial decision, all rights reserved.

SPEAKER_2 (0:31)

Now, new focus on wealth, new focus on wealth, get a new focus on personal finance, wealth management, Wall Street, and the economy. Now, Rob Black.

Rob Black (0:43)

Thanks for listening to the show. One of the things I absolutely hate is the Internet. I'm looking at the market numbers right now, and right next to the market numbers is a picture of Bruce Willis. And the ad that's being served up to me is US neurologist link early al timers. Do I have to see Bruce Willis in every al timers? I want to remember him as die hard. And it stinks. It's a constant reminder, though, that I'll never be younger again. I won't be able to take down Hans Gruber on Christmas. I won't be able to jump from skyscrapers and helicopters. We all get older. You know who messed up bigly was Sylvester Sloan. He sold the rights to Rocky for $25,000 to $30,000.

Insisting, though, when he did it, it's a multi-billion dollar franchise, that he gets to play the role. So on one level, he secured a job, and broke into Hollywood. And on the other level, someone should have advised him better. I'm here to advise you better. Today, the Dow jumps in the S&P 500 NASDAQ all gain. It didn't start that way. The S&P 500 and the NASDAQ were in the red, as was the Russell 2000, as the 10-year treasure was sitting around 5.29%. And bam, it drops all the way down to 5.09%.

That's the bond market probably saying we went too far, and we need to reset, and that should help stocks. Now, I'm not crazy with what I've seen out of the financials companies and how the stock markets reacted with their earnings. It should have been better. I'll be honest with you. It should have been better.

But I am optimistic for other reasons, including this election is going to be over soon. And that will get us back to exactly what sort of legislation are we going to craft. I'm going to talk about that on tomorrow's strategy show, where depending on who wins the election, it could be a mandate for two years from now in the national elections on tax rates, on debt, on data centers. Got a lot riding on this one. Year to date, the Dow Jones Industrial Average is up 8.6%. Woohoo! The S&P mid cap 400 up 10.4%. The Russell 2000 up 11.5%. The S&P 500 up 13.1%. And the NASDAQ composite up 14.9%.

Looking at today, we had that reversal as the bond yields came, ultimately crashing down. Something happened there.

If they start marching back up tomorrow, they won't be like, ah, that must have been government intervention from the United States. Could be. Bitcoin was up 366 bucks today, so did $82,043. It was putting together a pretty solid September rally. But October's kind of been a little bit of a wet blanket, if you will. Gold sitting up 2% today, $41.90 an ounce. The stock market staged an impressive recovery from early losses, with broad-based buying interest helping the major averages finish higher, despite continued weakness in semiconductor and other tech stocks.

The S&P 500 up 3 tenths of a percent, the NASDAQ up 1 tenth of a percent. Not great numbers, but not bad either. Dow is up 1.1 percent, the Brussels 2000 up 1.4 percent, the S&P mid-cap 400 up 1 percent. You can now safely look at your portfolio again, your 401k, hopefully. Strength beneath the surface was particularly encouraging with the S&P 500 equal weight index jumping 1.3 percent. Substantially outperforming its market cap-weighted counterpart that was up only 3 tenths of 1 percent.

Concerns about growing competition from Chinese memory chipmakers weighed on sentiment? You know what I saw at the spice aisle the other day? Cinnamon sugar. I saw some other products infused with cinnamon, but that one cracked me up because my mother used to make me toast for breakfast, and she should put butter and cinnamon sugar on it. And to this day, if I want a positive memory, one bite.

It's all it takes to take me back to the happiest moments of my childhood. With my mom. Loving me. Before my alcoholic father came back home at 6 o'clock at night and told me how stupid I was.