Florida Housing Declines, Samsung Semiconductor Record Profits, and ISM Services PMI Data

Key Takeaways

1. Florida housing markets see significant price declines, with Cape Coral down 22% from peak.
2. Samsung semiconductor profits hit record highs, projected to exceed combined profits of past 40 years.
3. ISM Services PMI for June came in at 54.0, slightly below prior month, with mixed subcomponents.
4. S&P 493 (equal-weight ex-Mag7) has outperformed Mag7 in 2026 year-to-date, a notable market shift.
5. Marc Andreessen highlights data centers driving US industrial tech demand, but politics work against it.

1. Economic Indicators

1. The ISM Services PMI for June registered 54.0, matching expectations but slightly below the prior month's 54.5. New orders fell to 55.1, while employment rose to 51.2 and the prices paid index dropped to 67.7. — via 1

2. Real Estate

1. Florida housing markets are experiencing significant price declines from their peaks. Cape Coral leads with a 22% drop, followed by other cities with declines ranging from 3% to 22%. — via 1

3. Semiconductors

1. Samsung's semiconductor business has achieved record profits, and the company's chip profits this year are expected to surpass the combined profits of the past 40 years. — via 1

4. Market Trends

1. The S&P 493 (the S&P 500 excluding the Magnificent 7) has outperformed the Mag 7 year-to-date in 2026, a significant reversal from recent trends. — via 1
2. Data centers are creating a market-driven demand for US manufacturing and industrial technology, which both parties claim to want but politics are moving in the opposite direction. — via 1,[pmarca]2

5. Sentiment and Commentary

1. Meb Faber argues that each generation of Americans is wealthier than the last, using charts to counter pessimistic narratives, and promotes his new book. — via 1