Oil Spikes, Stocks Shrug: What the Market Is Really Telling You

Dupree

Financial Group

Podcast Show Notes

The Tom Dupree Show

Episode  ·  July 25, 2026

Oil Spikes, Stocks Shrug: What the Market Is Really Telling You

The Tom Dupree Show| Dupree Financial Group | dupreefinancial.com |859-233-0400

By Tom Dupree, Founder, Dupree Financial Group

Episode Description

This week gave retirement investors a real-time lesson in how markets actually work. Renewed conflict near the Strait of Hormuz sent crude oil sharply higher — the kind of headline that can make anyone glance nervously at a 401(k) statement. Instead, the S&P 500 kept flirting with all-time highs anyway. Tom Dupree, Mike Johnson, and Michael Dawahare — the same team you can hear every week on the Tom Dupree Show podcast archive — dig into why the market’s reaction didn’t match the headline, and what that gap tells you about where to actually look when you’re evaluating your own portfolio.

The team also unpacks a shift that’s been building all year. For the past two years, a handful of “Magnificent Seven” technology stocks carried nearly all of the S&P 500’s earnings growth. Michael walks through why that’s changing — and why the remaining 493 companies in the index are now projected to outpace the Mag Seven’s earnings growth, according to recent market data. Along the way, Tom and Mike connect that shift to two familiar names in Central Kentucky mailboxes — AT&T and Verizon — both of which addressed the SpaceX satellite-to-phone threat directly in their second-quarter 2026 earnings calls.

The through-line Tom keeps coming back to: none of this is a reason to guess, and it’s not a reason to freeze either. It’s a reason to know exactly what you own and why you own it. That’s the same fee-only, fiduciary research-driven approach behind every account DFG manages — a portfolio built around dividend-paying companies doesn’t need Tehran, Washington, or Elon Musk to cooperate in order to keep generating income.