Wednesday - September 30, 2026

On Sept. 30, Brian Szytel reports a bifurcated market into quarter-end, with the Dow down about 200 points while the S&P 500 and Nasdaq rise, led by large-cap growth; yields steepen as the 10-year and 30-year move higher. A cooler-than-expected PCE inflation report (core and year-over-year) lowers implied odds of an October Fed hike to about 35%, though Friday’s nonfarm payrolls could shift expectations. Other data were stronger: Q2 GDP revised up to 2.2%, ADP payrolls beat estimates, and consumer spending was robust, suggesting the economy is still humming despite high rates and debt concerns. He discusses a shifting Fed “put” narrative and answers why forward PEG ratios can look cheap versus expensive backward-looking metrics: higher expected growth, stronger profitability, and greater index concentration in the “Mag Seven,” with risk that earnings expectations could fall if AI spending disappoints.

00:00 Quarter End Market Recap

00:52 PCE Inflation And Yield Curve

02:07 Fed Hike Odds And Jobs Watch

02:33 GDP Payrolls And Spending

03:28 Bond Vigilantes And The Fed Put

05:35 Valuation Question CAPE Vs PEG

06:30 Tech Boom Comparisons And AI Risk

07:36 Dividend Focused Wrap Up

Links mentioned in this episode:
DividendCafe.com (dividendcafe.com)

TheBahnsenGroup.com (thebahnsengroup.com)