Welcome to the DC Today, your daily market synopsis of the Dividing Cafe, brought to you every Monday through Thursday to bring you up-to-date information and perspective on financial markets.

Hello and welcome to the Tuesday, D.C. today. Also, the kickoff of the month of August. So we closed out July.

Yesterday, you had the NASDAQ, S&P, and Dow all up over 3%. Actually, the S&P was up the least of those three,

as so much of the gains in July did broaden out. And the big seven or so tech companies were less of the gain than they've been all year.

So the S&P was a little bit lower and the Dow was a little bit higher, not not by much.

The Dow was, I think up 3.6.

That's almost half of what it's up on the whole year, just coming from last month.

So you had quite a monstrous move higher and risk assets, both in the months of June and July now.

We kicked off today.

It was actually pretty boring.

The Dow was up 71 points, which was 20 basis points to the

upside. But the S&P was down, 27 basis points and the NASDAQ down, almost half a percent.

So kind of a just mixed bag, but nothing really right home about on any front. Industrials led the way, but they were only up point three two percent, 32 basis points.

And utilities were actually down one and a quarter percent, consumer discretionary,

not far behind.

Also nearly one and a quarter percent to the downside.

The 10 year, this is the thing I think is more interesting on the day, if there is anything

you could call interesting today.

The bond market sold off as the 10-year was up seven basis points, closed at 4.03%.

And yet it did that even with reasonably weak manufacturing data. Remember, bond yields

normally are going higher at growthier news and bonds are generally rallying, meaning yields are

going lower on less growthy news. And the only thing I could think of is to why bonds would have moved the way

...