The Dividend Cafe - Tuesday - July 28, 2026

Episode Date: July 28, 2026

David Bahnsen fills in for Brian Szytel with the Dividend Cafe daily recap, noting the Dow rose 537 points (over 1%) while the Nasdaq fell 22 basis points, underscoring a market rotation away from semiconductors and some technology (semiconductors down almost 5%) toward more traditional/value areas. Healthcare led with a 2.3% gain, followed by consumer staples up 2% and materials up 1.66%, while energy fell 1.4% and technology fell 1.1%, reflecting unusually wide dispersion. The 10-year Treasury closed at 4.6%, down 4 basis points, alongside a broader bond rally with yields lower across the curve. Bahnsen highlights intense attention on the upcoming Fed meeting and argues there is too much focus on the Fed versus the real economy, with more commentary to follow. 00:00 Welcome and Host Swap 00:08 Market Rotation Snapshot 01:00 Sector Winners and Losers 01:36 Rates and Bond Rally 02:07 Fed Hype and Real Economy 02:45 Tomorrow Coverage Preview 02:49 Ask TBG and Sign Off Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com

Welcome to the Dividing Cafe, weekly market commentary focused on dividends in your portfolio and dividends in your understanding of economic life. Well, hello and welcome to the daily recap of the Dividendin Cafe. This is David Bonson. You're used to hearing Brian Saitel's voice Tuesday, Wednesday, Thursday, but Brian is traveling today. And I am here to bring you the daily recap where the Dow was up 537 points over 1% while the NASDAQ was. down 22 basis points, highlighting the contrast in this great rotation. We are seeing where there are significant amount of things having a sort of risk off moment, particularly in the semiconductor space, which was down almost 5% today, but then so many other things in the market actually

up, particularly more traditional names, value names, things of that nature. My screen is is mostly green today, and yet you have a NASDAQ that's down. It kind of speaks to the various differences and types of things that we own. In terms of a couple just quick summaries within the market, healthcare was the top performing sector, but it was up 2.3%. It wasn't just that it was up. it was up huge. Consumer staples were up 2%. Materials were up 1.66%. But then you have energy down 1.4 technology down 1.1. So just a big dispersion of results. That's the rotational status of the market. And a lot of waiting and seeing about what's going to happen with the Fed tomorrow. Speaking of interest rates, the 10-year closed today at 4.6% on the nose. So down four basis points. You pretty

much how to rally across the yield curve and bonds as almost all yields were down. And we wait to see what the new Fed chair does tomorrow. That's kind of my main takeaway. I am going to cover in what's on David's mind in the Daily Recap tomorrow what the Fed did do. I'm going to do extensive commentary on it in the Friday Dividendon Cafe. But right now there's just an unbelievable amount of chatter. Every interview, every question, every show, every headline is filled with will they, won't they type chat around the Fed. And it's legitimate to the extent that there are some questions. There are some unknowns and uncertainties about what will happen tomorrow with the Fed meeting. But I think all of the hype around it speaks to the point that Chairman Warsh has,

which is it's just too much hype. We care too much. There's too much focus on the Fed and not enough on the actual real economy. economy itself. And I think that he's 100% right in that. So we'll play that out more here in the days to come. In the meantime, your Ask TBG question is, as always, at the homepage at divinitycafe.com, and you can reach out to Brian or myself with questions anytime questions at the bonson group.com. Have a wonderful afternoon and evening. It will be back with you tomorrow in the daily recap. The Bonson Group is a group of investment professionals registered with High Tower Securities LLC,

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