In this July 7, 2026 episode of the One of a Kind Financial Show Daily, Certified Financial Planner Mike Milligan delivers a multi‑topic briefing that blends sports, market data, geopolitics, and hidden economic risks, all framed within a financial‑planning perspective. He opens with a recap of the World Cup, noting Spain’s late‑goal win over Portugal that marked Cristiano Ronaldo’s final World Cup appearance, the United States’ loss to Belgium, and previews of upcoming round‑of‑16 matches. He then shifts to Wall Street, highlighting the Dow Industrial Average’s record close at 52,900, a flat S&P 500, and a 0.8% dip in the Nasdaq driven by profit‑taking in AI semiconductors, while noting sector leaders and upcoming FOMC minutes. Milligan next discusses the subdued yet still‑relevant Iran‑U.S. indirect talks in Doha, focusing on the strategic importance of the Strait of Hormuz for global oil and LNG flows and the potential impact on inflation and fuel prices. The core of the episode presents three under‑the‑radar economic warnings: (1) FHA mortgage serious delinquency rates climbing to 4.6%, signaling stress in the entry‑level housing market; (2) commercial real‑estate loan delinquencies, especially in office‑focused CRE, rising above 7% with regional banks heavily exposed; (3) auto‑loan delinquencies hitting the highest level in three decades, with subprime borrowers over 10% past due, a leading indicator of broader consumer stress that will affect retail, restaurant, and credit‑card earnings. Throughout, Milligan emphasizes that a solid financial plan is about readiness for any market condition, drawing parallels between life cycles, sports careers, and the stages of accumulation, distribution, and legacy. The episode concludes with a reminder to “never miss a moment” in both sports and personal finance, reinforced by standard educational‑disclaimer language.
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This podcast is for educational purposes only. It is not investment advice, not a recommendation to buy or sell any specific security. Past performance is not indicative of future results. Consult your own licensed financial professional before making any investment decision. Mike Milligan is a Certified Financial Planner, planning professional, and the founder of OneUp Financial. Good morning and welcome to the One of a Kind Financial Show Daily. I am Mike Milligan, CFP. It's Tuesday, July 7th, 2026. Ronaldo is out. The USA is out. The Dow made another record. Iran is not off the map. And there are 3 stories the summer news cycle is not touching that could quietly shape your money. Educate Coach Plan. Never miss a moment. Let's go.
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2 matches yesterday in the World Cup both ended in heartbreak. For one side and euphoria for the other. In Arlington, Texas, at AT&T Stadium, Portugal versus Spain, the Battle of the Iberian Peninsula. 9 minutes of stoppage time. In the 90 plus 9th minute, Spain punched it home. The final, Spain 1, Portugal 0. Spain is through to the quarterfinals. And when the whistle— with that whistle, Cristiano Ronaldo's World Cup career comes to a close. 5 World Cups, a generational competitor. The camera stayed on him as he walked off the pitch. That is a moment. Whether you love him or root against him, you were watching greatness exit the stage. And then in the evening at Seahawks Stadium in Seattle, the United States versus Belgium. And it was tough to watch, quite honestly. Belgium 4, USA 1. The defense for the United States did not hold up. The Red Devils got a first half goal and early second half goal, and the game got away early, right? United States men's national team go home, the co-host, the home crowd, they're all out in the round of 16. A hard night for American soccer. And then there's 2 matches today, and the round of 16 closes at noon in Atlanta. Argentina versus Egypt. The defending champs, Messi will be on the pitch. Egypt with Mo Salah. into the knockout round for the first time since 1934. This is a real match, folks. And then finally, in Vancouver at 4:00 PM Eastern, Switzerland versus Colombia. 2 teams flying under the radar, both dangerous. The winner draws the winner of Argentina-Egypt on Saturday, July 11th, in Kansas City. That'll be the last quarterfinal spot. Uh, who is rooting for Argentina versus Colombia? Whoa. A battle of South America heavyweights in the round of 8 would be phenomenal. Never miss a moment, folks.
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Yesterday on Wall Street, the Dow's record, the NASDAQ wobbled. Traders come back from the long weekend and there was the story of the day was divergence. The Dow Industrial Average jumped 594 points or 1.1% to close at a record 52,900. 25 of the 30 components finished in the green. The S&P 500 though finished essentially flat, closing at 7,483, down a fraction of a point. 7 of 11 sectors advanced. Communication services and financials led, both up more than 2%. This is educational context. Financials leading ahead of earnings kickoff week is a pattern worth watching though, not a recommendation. The Nasdaq Composite fell 0.8% to 25,832, driven by profit taken in the AI semiconductor names that carried the first half of the year. Under the hood, the ISM Services PMI came in weaker than expected, feeding into the softer June, June jobs number from last Thursday. The bond market reads that as slightly more dovish for the Fed. Fed Governor Christopher Waller spoke. And kept his messaging tight, data dependent, watching the labor market closely. That sums it up. Today, actually tomorrow, the FOMC meeting's minutes from the June 16th, 17th, Warsh Fed meeting. That could be a volatile event because it's the first time that we get the full context of what happened at that meeting. That's educational only. We do not chase returns. We build a plan. A record close in the Dow does not change your financial plan. Your plan tells you how to respond to a record close.
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The Middle East has slipped off the front page. That does not mean the story is over. Iran and the United States wrapped up 2 days of indirect talks in Doha last Wednesday. The focus: reopening shipping through the Strait of Hormuz and unfreezing Iranian assets. Reuters is reporting that the 2 sides described the talks as positive progress, but neither side has publicly bridged the actual differences. Here's what you need to know for context. The Strait of Hormuz carries roughly one-fifth of the world's oil and liquid natural gas trade. Traffic partially resumed after the June ceasefire, but the status is described by both governments as unclear. Iran has signaled it intended to begin assessing tolls on shipping in mid-August. Last weekend, both sides exchanged strikes. After Iranian attack on a cargo ship. This is why crude currently in the low $70 range, according to reported spot pricing, has not fully priced out the geopolitical premium. Again, educational context, not a forecast. An unresolved Strait of Hormuz is an unresolved input into inflation, to shipping costs, to consumer gasoline prices, to the Fed's rate decision. This is why your plan must be built to withstand what you cannot predict.
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There's 3 summer stories the media is not talking about. The news cycle is soccer, fireworks, and AI. That's fine. But here are 3 stories that are actually moving your money quietly and getting no press. FHA mortgage delinquencies are climbing. The Mortgage Bankers Association's most recent quarterly reading shows the FHA serious delinquency rate near 4.6%, the highest since pandemic emergency measures ended. FHA is how first-time homebuyers, low-income buyers, and many veterans get into a home. When FHA delinquencies rise, it's an early It's an early indication of what's happening to the entire housing consumer. Story number 2 that's under the radar. Commercial real estate loan delinquencies keep rising. Federal Reserve data through May shows delinquency rates on commercial, commercial real estate loans at large banks grinding higher. The TREP-CMBS delinquency rate is holding above 7%, near multi-year highs. Office is the epicenter. Regional banks hold a disproportionate share of that exposure, meaning they've lent money on that space. If you own a regional bank stock, a REIT, or a muni bond backed by commercial property tax assessments, this is a story to follow. And then story 3, auto loan delinquencies at highest level in 3 decades. New York Fed household debt data shows 60-day-plus auto loan delinquencies at their highest level since the 1990s. Subprime auto buyers are the pressure point. Over 10% are now 60 days past due. Why does it matter if you're not a subprime borrower? Because it's a real-time read on consumer stress, and consumer stress moves earnings for retailers, restaurants, and credit card companies that you'll be watching later this earnings season. Not one of these three stories leads a network newscast this week, but they matter. That's for educational purposes and content, so you could stay ahead before the news actually breaks and you are lagging.
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And finally today, Ronaldo walked off a World Cup pitch for the last time last night. Somewhere out there, another kid picked up a soccer ball for the first time. Cycles, beginnings and endings—that is the whole game. Your financial plan is the same. Every stage has a beginning and an ending: accumulation, distribution, legacy. Never miss a moment inside of any of them. Estoy aprendiendo. I'm learning that the plan is not about being right on the market; it's about being ready. For the moment. Never miss a moment, folks. This is Mike Milligan. Educate, coach, plan. This has been the One of a Kind Financial Show Daily. I'm Mike Milligan, Certified Financial Planning Professional, founder of Warthog Financial. This show is for educational purposes only, not investment advice, not a recommendation to buy or sell any specific security. Past performance is not indicative of future results. Please consult your own licensed financial professional before making any financial decisions. I am an investment advisory representative with AdvisoryOut LLC. Ideas by Mike, doing business as Warthog Financial, and Mike Milligan LLC, doing business As one of the collective or unaffiliated entities of Advisory Alpha LLC.
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