Afternoon podcast 10-20-26

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.

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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 (0:45)

Another interesting day on the stock market. The ESP 500 was up about a quarter of a percent. The Dow was up about 1% of the NASDAQ down fractions. Russell 2000 up 1.6%. So small caps to leaders today. Followed by diversified companies in America. I think coming up with the rear, tech stocks. That's a bit odd. That doesn't happen every day. Dow being powered higher by an everything rally. Tech stocks recover early from declines, but they still weren't the big winners of the day.

Major averages finished today's session with mixed results, but relatively subdued performance. The SP5 was up 3 tenths of 1%. I don't call that subdued. I call that beautiful.

I'd rather slow and steady.

I was always a fan of the tortoise and the hare. I'm like, go tortoise, go. Go tortoise, go. And the stock market sometimes could be like a hare and get too far ahead of itself.

The Dow Jones Industrial Average outperformed while the Russell 2000 and S&P mid-cap 400 posted sizable gains as buying interests just shifted away from the mega-cap stocks. Small-cap companies and mid-caps did really well behind financial banks that are more regional in size.

Rotation was particularly evident. The S&P 500 equal-weighted index up 1.2 percent, which substantially outperformed its market-cap-weighted counterpart after finishing lower yesterday. The Vanguard mega-cap growth ETF was down two-tenths of 1 percent, meanwhile ended modestly lower as investors remain cautious about technology.

Tomorrow night, at this time, I'm going to have some meta-earnings on my desk.

Session began with pronounced selling pressure in semiconductor stocks, with the Philadelphia Semiconductor Index down three-tenths of a percent, falling nearly two percent after the opening bell and briefly erasing the entirety of yesterday's advance.

Weakness among several influential mega-cap names made on the NASDAQ today. Meta-platforms is down 1.5 percent. Alphabet was down 1.1 percent. Netflix is down 1.7 percent, down another 4 percent after their earnings tonight. I'll have more on their earnings tomorrow. I'm going to have a little bit right now, but more tomorrow morning. Go to your favorite place to get a podcast and sign up to get the Rob Black Show. Despite the continued hesitation surrounding tech stocks, the broader market benefited from a sharp reversal in oil prices. Don't tell me Trump is getting ready for another peace agreement, because I don't believe you. There's unconfirmed reports from Israel media that a compromised proposal aimed at easing tensions between the US and Iran had received preliminary approval from both sides. I don't believe you.

The retreat in oil prices and easing rate pressures helped support gains on the Russell 2000, following a six-week losing streak. Which sounds like me had a bit of a losing streak here and there with ladies back when I was 14 No, I've not been good at love. I want it, but I haven't been good at it. I'm no good with cars. I want to, but I'm no good at it. What I'm good at is money. Eli Lilly was up 3.6% today. Biogen was up 4% today. They don't have a lot of debt, and they're coming up with things that grow hair on our head. Fixes erectile dysfunction. I'm not gonna say cures it, but fixes it. Attacking cancer and other diseases that take us down. Biotech companies aren't the worst things. A lot of notable standouts in fresh 52-week highs, including a new all-time high for Lilly.

Four years ago, three and a half years ago, my brother-in-law came to me, and he's one of those guys who likes to look good, and he's a pretty good little good nerd. And he's like, oh, you should get on these GLP ones. I'm on one. I'm like, eh. I'm not sure yet. I like to wait for a year or two after the drug comes out before I start shooting it up or swallowing it because I don't want to grow a second head or die.

He might have had two pounds to lose, but he's still on it years later. He loves the effects of it. It did slip him down just a skosh. He didn't need a lot.