Afternoon podcast 10-5-26

Rob Black (0:00)

This is New Focus on Wealth with Rob Black, taking a look at what happened in the stock market today. You can find out more at robblack.com.

SPEAKER_2 (0:09)

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_3 (0:26)

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 (0:39)

We saw the S&P 500 up two thirds of 1% for the day. It slowly built there, got a little bit higher than it slowed down. The Dow started in the red, got into the green, but it closed up 1 fifth of 1%. The NASDAQ started up about 60 basis points, closed up 1%, 105 basis points, so a little bit more than 1%. Also 2000 was up 50 basis points. Pretty good day. And that's with the 10 year treasury still at 5.31%. So we're getting used to the 10 year at these levels. We're seeing the two year pull back down to normalized levels, but not the 10

And 2 years not at normalized, it's just moving towards normalized.

FBI has warned that every American with a phone should be aware of this new insidious fraud that's extremely tough to catch.

Oh boy, calling it extremely difficult. As I'm getting older, this is something that worries me. I'm not gonna say my mother had the mind of a 16 year old in the last 5 years of her life, but she had the mind of a 16 year old in the last 5 years of her life. She didn't know what she was doing. She picked up the phone once, and someone sold her a life insurance policy because don't you want to take care of your daughter? I don't know where they got all the information from, but it took about 3 years of a $100 a month payment that me and my brother David, judge, attorney, we had to figure out like, what's this? So when I hear the FBI has got some new scams, what I want you to do is talk to your parents.

Because criminals will disguise their calls with agency phone numbers and introduce themselves using real agent names. That means checking the name can create reassurances. You can call an agency and they may confirm that the employee does exist, even though they don't know the caller.

So learn that you need to take care of mom and dad a little bit on this one. Suspicious video calls can be photographed or recorded and reported at tips.fbi.gov. You can also call 1-800-QUALIFI. So senior fraud is an issue. Coming up, I'm going to have CFP Chad Burton on segments 2, 3, and 4 of the show. He's brilliant today. His insights into wealth preservation and retirement plan to make my little FBI skedaddle down the road of, you know, help your parents are getting old. But now when it comes to stocks, let me flex. So we had a nice day. Not nice enough that we have to say it's re-driving till the end of the year, but it should be pretty close. The last two weeks of October and the final two months of the quarter, November and December, are seasonally pretty attractive. We have earnings season coming up, but we're not there yet. So we're still like, oh, let's hop on inflation, let's hop on the interest rates, let's hop with yields. And we're holding. I like that. Now as I get a fresh record high, is participation broadened today? Coming into this morning, my notes were like, yeah, last week we hit record highs on the NASDAQ, but not enough broadening. S&P 500 up 70 basis points today. The Dow Jones industrial average reversed early weakness. This is bullish. Meta platform is up another 1.9 percent. My friend is at principal. He owes me a cup of coffee or something for a freebie because I told him to pick that up 200 points ago. When he was looking at a much lesser yield or a much lesser stock that had a much lower yield. Talked him out of it. Good. Now it's up to him. He's got a great trade or he's got a nice long-term position if he scaled into it. Nothing wrong with that. The iShares Goldman Sachs software ETF rose 1.3 percent today. PTC up 33 percent after Schneider Electric down 10 percent to be acquired by the company for $205 per share in cash. Now, what we need to know about that was it was a merger. Schneider looked at PTC walking by and said, Mm-hmm, you're looking good. I'm willing to pay 33 percent more for you than what other people are.