Alan Greenspan Dies & Fox Buys Roku – Monthly Market Update Podcast – July 2026

So June was an interesting month.

We saw a little bit of red finally creep back into the markets.

We've had basically all green straight up the whole time since the Iran war was initiated.

It sold off for a month or a month and a half.

I don't remember the exact date.

length of time there and then since then has been up and up and up recovery very very quickly and hard a lot of it has to do with the ai boom and uh euphoria around there and then this month uh perhaps probably there are a number of reasons but perhaps because the the iran war has uh seems to have restarted or never ended however you want to categorize that So we see a lot of red.

Specifically, we can see a lot of red in the mega cap names.

So the largest companies, Microsoft, Apple, Amazon, Broadcom, Meta, they're down 5.6% for the month.

The S&P 500, when you look at everything, being down about 1%.

And then this is one of the reasons why we diversify is small caps.

So smaller companies, some of these smaller boxes that you can't see the names of or anything.

um we're up seven percent so there's been a long trend for for many years but also uh somewhat recently where the mega cap names have really outperformed all the money was flowing to the the magnificent seven uh soon to be maybe the magnificent eight depending on your opinions on spacex but it's definitely a very large company And so the small cap companies, the broader part of the economy or the broader part of the stock market had been underinvested.

And it seems like that has skewed back a little bit and the pendulum has swung the other direction.

We'll see how long that lasts, though.

S&P GARP is growth at a reasonable price, one of our preferred metrics that also skews small caps, skews more value oriented rather than the really high flying growth tech names of the Magnuson 7 and the largest companies on the exchanges.

So we see a little bit of gains on the smaller and the broader parts of the market.

GlobalX US, that's non-US

companies, were down 1.8%.

So they had

outperformed

in recent history.

And it seems like when people have been selling off, again, they're trying to

swing the

pendulum in the other direction, trying to find value in places that have been ignored.

So that would be my take on why GlobalX US sold off at the same time as some of the mega caps.