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 DC today. It is Tuesday, March the 5th. Thank you for being with me here. I'm speaking to you here,

now Newport Beach, California office studio. Nice sunny day here in California.

Markets were a little less sunny, although the Dow was down about 404 points on the day.

We actually opened lower and just traded and drifted lower for most of the day and then

closed just off of the lows. We were actually down over 500 points, about an hour before the close.

So a little bit off the low for the day, but a give-back day nonetheless, and it was largely

driven by potentially some angst. Pal is talking to Congress tomorrow. He does a semi-annual

testimony. And so, you know, markets can feel angst sometimes before what could be a more

hawkish statement with Congress. I think it'll be benign and more of the same personally. But

there was that and then some larger technology downside

for the day. There was a sales miss in China for Apple and some other things. So some of

the technology sector was just down on the day about 2% and then drove the overall markets

lower a little bit. The bond market caught a bid on the day, and rates went down to some degree.

The tenure was down, about six basis points.

We closed at 414 on tens for the day.

So a bit of a down day in stocks and up to end bonds.

We had ISM services data out today that was a little weaker than expected,

but pretty much in line. We were at 52.6 versus about 52.9 expected. So still very much

expansionary, and I would say still generally good in the services sector in the economy.

So those things are fine.

And then we also had a revision in a final PMI producer manager index number

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