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Earnings season when theres too much to keep track of and the action seems to stop making sense. The dow gained 46, the s p advanced and the nasdaq climbed up, you have every right to be extremely frustrated stocks that should be going up are going down stocks that should be down are going up human sacrifice, dogs and cats are living together, mass hysteria theres a method to that markets madness you need to understand it. Otherwise, youll have no idea whatsing if on whats going on a close investor is a bad investor so let me walk through some of the craziest examples. Im going to start with caterpillar. Caterpillar, the stock huge shortfall in response of course the stock correctly plunged 6 in Early Morning trading. Well, i thought it was a bit of an overreaction, nothing unusual about a stock going down in disappointing numbers is there its what happens next thats should we take our cue from this hard to explain. Cat down 6 and ....
Japanese yen holding fairly steady. We saw that kneejerk reaction overnight and we had local immediate reporting they would exit away from negative policy settings next week the focus on those union group negotiations. Nomura saying the wage hike is likely to be around the 5. 1 range. This is the state of play so far. Yen strength, we have seen it putting pressure on japanese stocks and we saw the miners outperforming yesterday. It will be interesting to see how that sub index performs today considering we are seeing iron ore going down. Equities more broadly so far under pressure ahead of the boj meeting that concludes early next week. Lets take a look at the outlook for career, very much driven by wall street. Further weakness. It was that focus on the fed and the message or the takeaway perhaps from the ppi data, we had further data around resilience in the labor market. Perhaps the fed can afford to take its time when it comes to cutting rates as we saw moves higher for treasury yi ....
Today. And i really want to start by bringing our viewers back to fall of 2020. What would you release . The facebook of a series of stories that really sparked this this global conversation and about about the company and in how a lot of it a lot of what it was communicating to the public was not how it was working internally. Can you take us back to that moment, those stories and what that was like . Yeah, sure. So, you know, the book came out of initially the documents that were provided to us by francis horgan, a former facebook employee, who in final stint, final months at the company, began talking with the journal and documenting some of the things she was concerned about internally. And she ended up taking more than 20,000 screenshots, lots of internal work product, and that was kind of the basis for the Facebook Files and the stuff covered just kind of a really wide range of how facebook interacted with society from like ....
Today. And i really want to start by bringing our viewers back to fall of 2020. What would you release . The facebook of a series of stories that really sparked this this global conversation and about about the company and in how a lot of it a lot of what it was communicating to the public was not how it was working internally. Can you take us back to that moment, those stories and what that was like . Yeah, sure. So, you know, the book came out of initially the documents that were provided to us by francis horgan, a former facebook employee, who in final stint, final months at the company, began talking with the journal and documenting some of the things she was concerned about internally. And she ended up taking more than 20,000 screenshots, lots of internal work product, and that was kind of the basis for the Facebook Files and the stuff covered just kind of a really wide range of how facebook interacted with society from like ....