Afternoon podcast 9-21-26

Rob Black (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 (0:44)

My son has a knack for annoying me in a funny way with stocks. He asks me a lot of questions and it's funny on days where I don't want to answer, I'm like, that's enough on stocks, and he still asks. Now, I'm not going to say no to that. That's pretty brilliant of him. But he's been asking me recently about all time highs, and no, we're close. We're the one percent. In fact, the S&P 500 hasn't hit an all time high. It's been about a month, and it kind of gets close and pulls back. It's close and pulls back. It's been a couple months. It's close. So I got to tell it today. Nasdaq all time high, baby. Suddenly, I was the ex-owner of the Raiders, and I was talking with the phrase, baby coming out of my mouth. It's all good, baby. Just win, baby. The Nasdaq won today. The S&P 500 is really, really close. Nasdaq road.

Following oil prices to the first record since June. The Nasdaq scored 2.3%. Holy crapola. Like, I didn't see that coming.

Heading into Friday, there was death on my mind as my mother-in-law is in hospice. She's doing, she's not suffering, and she's communicating, which is about as well as you could ask. Of note, I've now got proof that women are the better sex than men, because once I admitted that I was having some issues with the mother-in-law and my children's grandmother, I got multiple emails from women. Multiple. They like the sensitive Rob Black. I got one from a man. Very disappointing. But that's OK. That's OK. I know you're here all about money. So the major averages opened the week with robust gains powered by a resurgence in the semiconductor and mega cap stocks alongside meaningful relief from two of the market recent macro headlines. Oil came down lower. Bond yields closed the tenure under 5 percent. The S&P 500 was up 1.5 percent. The Nasdaq up 2.3 percent. This week, the United Nations General Assembly will meet and Trump signaled that he may be open to meeting with Iranian leaders. I think we're down about 50-plus days until the election. And if this is still going on, I think Republicans aren't going to show up. He promised no new wars. He promised low inflation. And he's he's missed out on both those. A will to investors, remember? Don't think that I don't like Republicans and don't think that I like Democrats and don't think I like Republicans and don't think I don't like Democrats ever. I find both parties spend too much money. Both parties create inflation because they want to get reelected. I think Obama, with his health care, was a pretty good thing that a president was able to push as an agenda. I don't think we're pushing anything terribly important right now other than how to make ourselves richer on whoever's pushing said plans. I don't like it. So we get the United Nations General Assembly this week. Trump desperately needs something to go to the polls with and say, look what I did.

If talks go well, I think there's a hope in the market that there's another tailwind for lower oil, which would create lower inflation, which would create lower bond yields. Tech stocks were at the center of the rally throughout the session day. The Philadelphia Semiconductor Index surged 4.3 percent, helping the IT sector up 2.5 percent. Strongest group. AMD was up 9.9 percent. Intel was up 12.4 percent.

Two of the best-performing SAP 500 components, despite the absence of company-specific catalyst. I'm going to tell you how to buy stocks like that in about three minutes. How do you get a stock that's that big of a winner? How do you not say winner winner chicken dinner when you have a day like that?

AMD reached a new all-time high. It crossed $600 a share for the first time, lifting its market capitalization above $1 trillion.

The strength represented a sharp change in tone following recent volatility surrounding AI stocks and the debate on whether development of increasingly capable models should be slowed. I think the people who want the model slowed are the people who own the models and want to come public. Anthropic and open AI want to slow the models' development because they're seeing open weight models of artificial intelligence are catching up quickly.