Thursday - June 18, 2026
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 18 June 2026
⏱️ 5 minutes
🧾️ Download transcript
Summary
On Thursday, June 18, David Bahnsen recapped a strong market day led by the Nasdaq (up nearly 500 points, just under 2%), with the S&P 500 up just over 1% and the Dow up 72 points. Technology, consumer discretionary, and communication services led, while energy, financials, healthcare, and consumer staples lagged. He highlighted SpaceX’s roughly $2.5 trillion market cap (down from nearly $3 trillion days earlier after a 17–18% drop) and contrasted it with Amazon and Microsoft profitability versus SpaceX’s $19 billion in sales and a $9 billion loss. Economic data showed initial jobless claims at 226,000 (four-week average 223,000). Bond yields reflected further curve flattening: the 10-year fell to 4.45% while shorter maturities rose.
00:00 Welcome and Setup
00:23 Market Rally Snapshot
00:44 Sector Winners and Losers
01:07 SpaceX Valuation Reality Check
02:33 Jobless Claims Update
02:54 Yield Curve Flattening
03:28 Wrap Up and Tomorrow Preview
Links mentioned in this episode: DividendCafe.com
Transcript
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| 0:00.0 | Welcome to the Dividend Cafe weekly market commentary focused on dividends in your portfolio and dividends |
| 0:07.7 | in your understanding of economic life. Well, hello and welcome to the Dividend Cafe Daily Recap. It is Thursday, |
| 0:17.8 | June the 18th. This is David Bonson. Once again, filling in for my partner, Brian |
| 0:22.7 | Saitel. I'm very much looking forward to the Friday Dividendon Cafe hitting your inboxes tomorrow, |
| 0:28.6 | dealing with the subject of whether or not this is the dreaded top. How do we want to think about |
| 0:34.0 | the current state of the market? Current state of the market was good today, |
| 0:38.3 | particularly for the NASDAQ, up nearly 500 points, which was nearly, but not quite 2%. The SMP was up |
| 0:45.1 | just over 1%. The Dow was up 72 points itself, only 14 basis points. But you had a very solid rally in markets. |
| 0:56.2 | The sectors that did best today were technology of 2.5% consumer discretionary of 1 and 3 quarters, |
| 1:05.6 | communication services up over 1. The laggards were energy down 1.73 and financials down nearly one. Healthcare |
| 1:14.8 | down, consumer staples down. So one of those days. I want to point out as SpaceX right now has |
| 1:23.0 | a market capitalization of two and a half trillion dollars. It was down the last couple of days. It had been at $3 trillion |
| 1:30.3 | dollars just a couple days ago, just like literally a few points short of a $3 trillion market |
| 1:36.5 | cap. The stock, I believe, is down 17 or 18 percent in the last couple of days. So a couple |
| 1:42.0 | days ago, that market cap was higher than Amazon and higher than Microsoft. |
| 1:48.0 | And the reason I bring that up is that Amazon does $91 billion of profits on sales of $743 billion. |
| 2:00.9 | Microsoft does $125 billion of earnings, profits on sales of nearly $320 billion. |
| 2:11.0 | And yet, SpaceX did a whopping $19 billion of sales and lost $9 billion. |
| 2:18.5 | Now, of course, the revenues are growing and people are looking to the future. |
| 2:23.8 | But I just want to give you that contrast of what we're dealing with. |
| 2:28.6 | When we talk about a company like SpaceX being a $2.5 trillion, and a couple of days ago, |
| 2:34.1 | $3 trillion market valuation |
... |
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