Welcome to the Dividend Cafe weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life.

Welcome to Dividend Cafe. It is Wednesday, June the 5th, in what was generally a fairly positive day across the board in markets.

Dow closed up 96 points, but the S&P and the NASDAQ were both up over a percent.

In fact, the NASDAQ was up almost 2 percent on the day, and both of those indices closed at all-time highs.

A lot of that was around a continued, just juggernaut of artificial intelligence and some of these very large now names, including the largest of them at now a $3 trillion market cap, really moving the needle on the overall indices.

But positive across the board in stocks.

And he also had a rally in bonds.

And tenure was up four basis points.

I'm sorry, down four basis points

on the day. We closed at 428 on the day. And the two years now below 475. We closed at 472,

and that's down 25 basis points from a week ago. So you are seeing some interest rate movement

lower, which, again, is supportive of some risk assets otherwise. And some of the

reason is some of the economic data has started to slow, including today. We had an ADP private payroll

number come in weaker than expected at 152. We were expecting more like 175. And so we had some

employment coolness on the day. We did get some strength

in services, though, I will note, quite robust. We got an ISM services manufacturing PMI number

at 53.8 versus a 50.7 expected. So that's anything over 50 is an expansion territory. Those are

good things. Service sector is powering the economy now, making up the line share of it.

And so we want to see that expanding.

If we can get that expansion with a normalized employment market and inflation coming down,

then there's your porridge is just right.

And I suspect some of that was behind today's move positive in markets.

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