“Lost $700 BILLION!” - Stock Market STUMBLES As Sell Off CRUSHES Wall Street
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201.95396
Summary
The Dow Jones and S&P 500 hit new records and hit new all-time highs on a day where the economy added jobs and the unemployment rate hit 4.4%, beating expectations. Today, the markets are back up a bit, and the VIX and YOY are back in positive territory.
Transcript
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Wall Street roars, higher after Blockbuster Jobs report.
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So I'm going to read it, and then we can go to yesterday.
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Stocks on Wall Street surged after new figures showed the economy had 130,000 jobs.
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The economists had expected Labor Department to report job growth at around 75,000.
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Only a modest improvement of December's week, 50,000.
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Then yesterday, Rob, if you can go on the market, yesterday, how it performed.
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Tom, what happened yesterday, and what do you think is going to happen moving forward with the market?
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So, yesterday, there was three things that came together and created a storm in the afternoon.
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The first was there was a lot of AI spooking on layoffs.
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Second, there was poor guidance by some of the big techs.
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And then, third, everybody thought the CPI that was coming out today, Pat, was going to be higher, proving that starting last April, all the tariffs by Trump created a problem.
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The CPI, consumer price index, came out today three-tenths lower than people thought it was going to come.
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People were saying it's going to be 2.7, going to be 2.7.
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Consensus was really about 2.5, but it was actually now down 0.3 from the same time a year ago.
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So, what that means is everyone that said, oh, gloom and doom on the tariffs, you know, this is going to create runaway inflation, the inflation now, Pat, a year later, is three-tenths, consumer price index, excuse me, is three-tenths lower than it was when Trump started the tariffs.
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So, the one-year impact on tariffs as a boogeyman of inflation didn't come true.
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Today, the markets are back up a little bit, but let's also look at the VIX.
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So, these are daily swings, big daily swings that are happening.
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The VIX is holding around 21, which means that Americans are kind of neutral.
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See when the VIX shot up on – what did they call that?
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Over 50 means that the market was incredibly nervous and scared.
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That means even though we've had these market shifts up a bit, down a bit, up a bit, down a bit, overall, the VIX has been under 21 except for a couple pops.
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And so, that is what I look at, Pat, the mood of the wider market as measured by a technical like the VIX.
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If you take a look at the least impacted was the S&P.
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There's never a bad time to buy it over the extent of history for the S&P 500.
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Is this the sidekick that you were talking about earlier?
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Everyone's worried who's going to be the president next.
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What happens the day after election, everybody on the market is going to say the single biggest uptick in the history of the stock market a single day is going to be said the day after election in 2024.
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And Dow's going to go to $50,000 in 2024, 2025.
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And there's an 80%, 90% chance I'm going to be wrong.
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But I'm telling you, Dow, in my opinion, I'm not telling you to do this.
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I'm banking on Dow's going to be $50,000 in 2025, 2026.
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But it's going to be a shit show in 2022, 2026.
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If anybody wants any predictions, anybody wants any psychic readings, go to the neck.
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Well, by the way, can I give you the reason I think you know this?
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Because you believe in America, and you believe in the free markets, and you believe in capitalism,
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and you believe that even if Trump is president, or Biden is president, or Obama, or whoever
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the next president is, you can still make money.
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You know, people come to ask me, dude, I don't, I'm on Manect, a lot of, reach me on Manect
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Well, if you're a day trader, you're going to go insane, because the markets go up every
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I remember when we were in the lovely city of Addison, and I was in the room where I used
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Breaking news, the Dow just hit 30,000 after almost tumbling to closer to 15,000 or 18,000.
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But if you're, it's not timing the market, it's time in the market.
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So as much as you are a great prognosticator and predictor, the reality is you have data
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to show you that you should bet on America, and you're not going to lose.
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If you're in cash, listen, have cash, always have cash, because like right now, market
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I'm, you know, my guy and I are talking, I'm like, how much more do you think it's going
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Because, look, the thing about right now where they're saying the dollar's going to get
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So if you, let's just say you know for a fact the dollar's going to get weaker.
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Tom, if we know for a fact, let's just say the next three years' dollar's going to get
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If it's going to go, you know, it's going to be equities.
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If you're sitting on the sidelines, you know, for me, a year ago, a year and a half ago,
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I said, I want to find out what are the top five biggest startups or companies that are,
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I gave them the range of where they're at that they specialize in nuclear energy.
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So I got into the call with a Goldman's nuclear energy department.
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We had a call together and I got, you know, the names of the companies I like.
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Do you know the last 12 months, the best performing stocks I've had is nuclear.
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But one guy sends me a message saying, I put money in Palantir.
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A hundred thousand turned into, I don't know what the number he said, million, two million times.
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I don't know if I know a forefact that's going to happen or not.
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Guess what is a big problem amongst all of these AI companies?
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And we can no longer get it the way we're doing it.
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So now the biggest thing that the government has to do and these companies have to do,
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they have to get people to get more comfortable with what?
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And they've not done a good job, but they'll figure that out in the next 3, 5, 10 years.
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And then all of a sudden, you're going to look at such and such company is officially valued at $1.3 trillion.
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So if a person put a million dollars in, it's not 400 million?
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So to me, long-term equities, short-term, there's going to be some of this bumpy ride that you're going to go through.
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You know, this is not an advice I would give to somebody that's in their 70s.
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This is not an advice to 70s or even 60s, unless if you're 60s and you have the body of a 47-year-old
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and you're a white Canadian guy who lives in Florida, your name is Tom Ellsworth,
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and you're so sexy that you can't live in Miami.
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God forbid if Tom walks to Miami, folks, it is out of – let me tell you, I don't want to embarrass Tom.
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Guys, me, Vinny, and Tom, and Adam are walking in Miami.
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I mean, people think like Adam's the girls, you know.
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But God forbid when women see Tom, when they see Tom, his windshield, car is filled with Victoria's
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I said, listen, you guys can never live in Miami.
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If there's a city you guys can't live in, you're better moving to Stewart.
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You're better moving to some of these small cities, you know, north of Jupiter.
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People think that Tom and I don't hang out because there's an issue.
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I don't need him stepping on my turf, taking all my lady friends down there.
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Pat, but when you pull up somebody in a Ferrari and you throw your keys and they know.
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By the way, Adam, I wouldn't mess with any of your lady friends, Adam, at least until the
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That's, that's a, the dad jokes are, you know, we were doing so well to change Tom's
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algorithm on Manectin's getting, and then he gave the antibiotic joke, but back to Boomer's
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A new Faith Over Fear hat is coming soon to a theater near you, but I just wanted to, this
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morning I was listening to Billy Graham, which Pat, you told me to, to listen to him.
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You're like, you know, Vinny, dive in and listen to him.
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I'm just listening to Billy Graham and he said something that I hadn't heard, uh, in
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And it was the apostle Thomas, uh, when Jesus rose from the dead, Thomas wasn't there to
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If I get to put my hands in his wounds and in his side.
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So then he finally sees Jesus and he goes in there, he goes, God, Thomas, God, put your,
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And Jesus looks at him and goes, because you have seen me, you believe blessed of those
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who haven't seen me and still believe it in that moment, Tom, it hit me.
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We didn't see him rise from the dead, but we believe, and that is faith in real time.
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And the last one, you mentioned the story about the Nigeria that we're sending 200 troops.
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They're saying they're not going to do anything crazy, but think about that.
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Think about the parishioners in those churches that were bombed and murdered and slaughtered.
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And they were in that church praying and saying, please help.
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And I can't tell you how many people see me with the shirt, because the shirt's on the
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back and just tap me on the back and go, I'm with you.
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Or they see this hat and they go, where can I get that hat?
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So you go on, um, vtmerch.com, uh, get the hat.
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We have here, my send me, which is Isaiah chapter six, uh, verse eight as well.
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But, um, yeah, let's go to vtmerch.com and pick it up.
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00:12:24.400
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