We need to figure out what ind of self selloff and work out accordingly. It is always fantastic, all happy rallies are alike. Each selloff is happy in its own way. Its true. The bull market, scotts are higher and everyone thinks they should be participating because it is easy. But bigger clients, much harder. They can be the start of a bear market. Or maybe something worse, maybe just a glitch. Thats why tonight we illustrate some of the common qualities of selloffs so you know what to do the next time the market has an inevitable weakness. There have really just been two horrifying selloffs since i started four decades ago. The crash in 2007 and 2009, but even in the global crash when they lost 35 in just a month, not nearly as bad as these two. Lets deal with the two big ones headon because they make great samples, 1987 and the financial crisis are actually polar opposites. On october 19th, 1987 notice black monday the dow jones fell more than 22 in a single session. I was trading th
The fed futures priced that out to july instead of june. If you look at treasury yields, there was a 10basis point jump in the tenyear yield. 4. 27. The twoyear yield at 4. 68. Looking at the hotterthan expected Producer Prices for two months whand hotter consumer prices, it makes you won beder t you see with inflation. The price of bitcoin as we talked about that before we came on it never closes. You never know to base the change. That change doesnt tell you what is happening. Here is the range from yesterday. I can look at coinbase where i watch it. The high was 73,418. We say that. The low was 65,500 i did some math. Thats 8,000 on a 73,000 stock. More than 10 . If you decide you want to tread into this, be ready to buy at 73 and wake up the next morning to see it at 65. The weird thing about it, gold and bitcoin is supposed to go up with inflation. When inflation is running, it means the fed will not cut. They will not print. Liquidity play. They will not print and everybody wants
Bearish strategist has finally capitulated. It is nvidias week. Four analysts upping their targets ahead of results on wednesday. And apple reportedly edly slash iphone prices to count huawei. A historic week for stocks, jim. We got to 40k, we hosted 11 on the vix, but just barely, but we did. People are stalki talking ab stock market. For the long time, they talked about my tomatoes. And then say, wow, what is that about . People who have not been in. People who are thinking, is it too late . I try to present a constructive view. But its gotten in peoples minds, carl, and also numbers from gallop last week who said 62 of the people are back. Someone in their house owns stocks. Thats up from 52. Which was interesting. 52 was the low, which is just when the dow got back to where it was before 2007. So, you had 2007, people got back to even and they left. And now genz, gen x back. Millennials back. Boomers i think just blown out and dont rely. And its quite encouraging, because if we can
And bitcoin above 30,000 as the sec may allow a spot in bitcoin etf that conveniently would expand its own authority. Is it the right move in a former cftc commissioner weighs. Charles schwab leading the s p after its earnings and well preview more results and get the trade from goldman and b of a and thats coming up with Earnings Exchange. Lets get a quick check on the markets where stocks are higher across the board although the dow is 100 points below the session highs and very similar for the s p, up 46 or so to 4373 and the nasdaq a similar move. The tenyear yield back up to 7 and its interesting to see that not exert more pressure and 471. 6 and the 30year nearing the 4. 9 level witness again. So is this good mood in stocks a positive sign into year end or is it all just a head fake. Joining me to make sense of things is Hennessy Funds chief Market Strategist and its good to have you on set. Welcome. Thank you. A nice rally day for you to be here, as well. You have to be generall
Of a tiktok ban added to an important foreign aid bill. Well dive in on that. But first a check of the markets. They are slightly higher today, coming off a rough previous week. But we are heading into a key few days now for earnings. Big tech reporting results. Meta, youve got meta, alphabet, microsoft all on deck. For that lets go to steve kovach with a look at what to expect. Steve . Reporter hey there, tyler. It will start this week with meta on wednesday, and then we get microsoft earnings and alphabet on thursday. Amazon and apple are coming next week. Take a look at each one of these names through the lens of ai. Not big business yet for any of these names, but some are progressing more than others. Lets call this your ai gut check. Lets start with meta partnering with google last week to power a new version of its meta ai chatbot. The most important thing here for meta is engagement, proving this keeps people using meta apps like whatsapp and instagram and facebook. It debuted