Tuesday - June 2, 2026
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 569 Ratings
🗓️ 2 June 2026
⏱️ 7 minutes
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Summary
Brian Szytel shares a late-day market update with the Dow up about 250 points, the S&P slightly higher, the Nasdaq flat, and the 10-year yield unchanged at 4.45%. He highlights a stronger-than-expected JOLTS report showing roughly 731,000 more job openings than consensus, lifting openings to about 7.6 million, the highest in two years, with gains notably in consulting and professional services—countering fears that AI is collapsing hiring. He argues AI may shift entry-level skill requirements but supports productivity and investment over time. Addressing a question about younger investors relying on Bitcoin for retirement, he cites Ned Davis Research (1973–2025) showing dividend growers compounding ~10.2% versus ~7.7% for S&P equal weight, ~4.2% for non-payers, and negative returns for dividend cutters, recommending dividend-growth principles and warning Bitcoin’s volatility and lack of cash flows make it ill-suited for funding liabilities.
00:00 Market Snapshot Today
00:41 Jobs Openings Surprise
01:19 AI and Hiring Reality
02:47 Bitcoin vs Dividend Growth
03:17 50 Years of Dividend Data
04:23 Building Evergreen Investing Habits
04:48 Why Bitcoin Fails Liabilities
05:34 Conclusion
Links mentioned in this episode: DividendCafe.com
Transcript
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| 0:00.0 | Welcome to the Dividing Cafe weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life. |
| 0:10.0 | Welcome back to Dividend Cafe. This is Brian Saitel with you here as your host this evening. It is Tuesday, June the 2nd, and we've got an update in the market. |
| 0:22.6 | At least we have an update on the Dow. The Dow is up about 250 points. |
| 0:26.6 | I'm actually recording this about 11 minutes before the close here, so give me some grace on that. |
| 0:31.6 | But Dow was up 250, S&P was up about 15 bases points, and the NASDAQ was totally flat. Ten year didn't move. We're at |
| 0:39.0 | 445 on the 10 year. So again, the story here is the positive fundamentals outweighing some of the |
| 0:45.9 | concerns and worries about other things like geopolitical events. We had a stronger than expected |
| 0:50.9 | jolt's number. This is the new job openings number that we measure often. |
| 0:55.5 | It was robust compared to what was considered consensus. So we've got about 731,000 more new jobs being |
| 1:02.0 | opened and advertised for, which brings us up to what, 7.6 million. And to put that in perspective, |
| 1:07.8 | that's the highest number in two years. Remember back in the pandemic or post-pandemic era, we got up towards nine for a period of time. |
| 1:14.3 | So there was more job openings than there were employed to fill them. |
| 1:17.7 | This is a much more balanced labor market. |
| 1:19.6 | But the point is, for all of the concern around AI, changing the landscape of companies wanting to hire and just using cloud or open AI to do the jobs of |
| 1:28.8 | what people in professional services roles used to do, this is really speaking to the opposite |
| 1:33.3 | of that. And I think it's interesting. In fact, the biggest part of the new job opening's numbers |
| 1:38.5 | was in consulting business professional services roles. So those were some of the roles that were deemed to be more |
| 1:45.6 | susceptible to being supplanted by what AI can do. But the reality is there really isn't a technology |
| 1:51.8 | that is ever going to replace human connection and human relationships. And so this tool is |
| 1:57.5 | fantastic and it's creating higher productivity and it's certainly a whole lot of investment. |
| 2:02.6 | And that's good for markets. It's good for the economy. Yes. |
| 2:05.8 | And on some levels, if there's roles that are more remedial or more commoditized or more data entry type of roles, |
... |
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