Tuesday - June 9, 2026
The Dividend Cafe
The Dividend Cafe - The Bahnsen Group
4.9 • 572 Ratings
🗓️ 9 June 2026
⏱️ 7 minutes
🧾️ Download transcript
Summary
Brian Szytel reports from West Palm Beach on a volatile market stretch driven by stronger-than-expected jobs data, renewed tech weakness, and Middle East uncertainty. The Dow rose 86 points while the S&P 500 fell 0.25% and the Nasdaq dropped 1%, as equal-weight S&P outperformed cap-weighted by over 100 bps and the 10-year yield fell to 4.52%. He notes the tech sector’s nine-week 47% rally is seeing froth and sharp daily swings, alongside widening market breadth and sector rotation. Szytel urges investors to focus on fundamentals rather than popularity and dismisses warnings of simultaneous “cycle” peaks as largely unknowable and hindsight-driven. Economic updates include slightly softer NFIB optimism (still near historical average), a narrower April trade deficit to $55B, and existing home sales up 3.2% to about 4.2M.
00:00 Market Rollercoaster Recap
01:18 Tech Selloff And Rotation
02:16 Stick With Fundamentals
03:16 Ray Dalio Cycle Warnings
04:45 Quick Economic Calendar
05:39 Wrap Up And Sign Off
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 in your understanding of economic life. |
| 0:12.2 | Welcome back to Dividend Cafe. This is Brian Saitel, your host here this evening on Tuesday, June the 9th from our West Palm Beach, Florida office here. |
| 0:22.9 | On a down day overall in markets, and it's been a bit of a roller coaster, really, the last |
| 0:27.6 | couple of days. You had the big move lower on Friday because, lo and behold, we added more |
| 0:31.9 | jobs than we expected, and so markets were upset that maybe rates will go up a little bit |
| 0:36.9 | versus down. |
| 0:37.9 | And also you had some myths and earnings from some of the chip names. |
| 0:42.0 | And so the tech sector sold off big on Friday. |
| 0:44.1 | Then you had recovery on Monday with all that stuff moving back up about half as much as it moved down. |
| 0:51.0 | And then today you got a further downside to the tech narrative and so the equal weight |
| 0:56.5 | s&P on the day outperform the cap weighted smp by over 100 basis points so back and forth in |
| 1:04.3 | this technology deal and you're starting to see the Dow slowly but surely catch up to the other two |
| 1:09.8 | indices of the S&P and the |
| 1:11.3 | NASDAQ on the year. What you saw on the day was the Dow up 86 points, the SMP 500 down |
| 1:19.4 | one quarter of a percent, and the NASDAQ down a full 1%. You did have interest rates move |
| 1:24.8 | lower on the day. The 10 year was down for almost five basis points. |
| 1:29.1 | We closed at 452. So what's going on here? There's part of the market, which has done really well. |
| 1:35.8 | And again, if you remember what we wrote about a day or two ago, the technology rally that we've seen the last nine weeks is up 47% and is the most biggest move for one sector of all time in that period of time, including tech of the 1999-2000 era. So some of that stuff is coming off. Some of those names are overvalued and there's volatility, meaning that they're going up and down 5 to 10% per day. So if you can catch them on a good day, |
| 2:01.8 | then more power to you. And I suppose not own them on the down days. That'd be a heck of a |
| 2:06.9 | trading strategy, but it's really not very realistic. But that's what's going on in markets right now. |
| 2:11.5 | We're digesting what's happening in the Middle East. We're dealing with some overvalued |
| 2:15.6 | and some frothiness in the tech sector. There is some |
... |
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