This Week in Review | Global PMIs, SpaceX, RMD Planning (July 10, 2026)

The episode begins by explaining that June's final PMI releases from the US, UK, Eurozone, and Japan revealed underappreciated global economic strength. PMI scores above 50 indicate expansion while below 50 indicates contraction. The US PMI reached 51.9 and Japan's climbed to 52.8, showing acceleration, while the Eurozone stabilized at exactly 50 (the expansion/contraction boundary) and the UK slipped to 49.3 in minor contraction. The key takeaway is that the global economy is demonstrating greater resilience than anticipated despite sentiment headwinds, suggesting the bull market has room to run despite occasional bumps. Second, SpaceX joined the NASDAQ 100 index on Tuesday, following its earlier inclusion in MSCI stock index products in late June. While the expedited inclusion rules weren't created solely for SpaceX and will apply to future major IPOs, this milestone represents a significant step in the company's post-IPO journey. The hosts caution against getting swept up in either greed or fear around flashy new index inclusions, recommending a focus on compound growth in globally diversified portfolios instead. They note that SpaceX's rocky first month of trading and OpenAI's consideration of delaying its IPO suggest investor sentiment isn't excessively euphoric, though rapid index inclusion can serve as a useful sentiment indicator. Finally, the episode provides a midyear RMD reminder for investors 73 and older. Required minimum distributions must be taken from traditional IRAs and 401ks annually by December 31st to avoid penalties, but custodians typically have mid-December deadlines to guarantee funds clear by year-end. The hosts recommend checking whether RMD amounts exceed living expenses and reinvesting any surplus, plus verifying RMD requirements are met for each retirement account separately to avoid last-minute stress.