0:00 spk_0
Look at this. The Dow is down 800 points, or 1 and 2/3 of a percent. We take a look at the chart here. We are closing pretty close to those lows of the day, so not the best setup here, at least for this one day. Here’s the Nasdaq down 2.3%, and here’s the S&P 500 down a similar amount to.Dow, all three of these charts looking pretty red and pretty negative. I should add all of those major markets having their worst day in over a month. So here is the headline from today’s sector action Energy, the only sector closing in the green and just barely up about 0.01%.And then the other leaders here, the least bad off, we see staples and healthcare, so it was a very defensive setup in terms of the leadership today. And then what did not do well, tech was leading the way down, down 2.5%. Consumer discretionary also down a similar amount, and then industrials, communication services, utilities, real estate, financials, all of those down more than 1%. And I.Focus on the Dow right now because we do have a couple of bright spots. I mentioned energy was in the green. Chevron, this little rectangle here, that’s up 1.3%. Then we got Cisco up over 4.5%. That is an earnings story. They did very well. Guess what? A lot of their networking gear is in high demand because of the AI story, so Cisco up 4.5%. J&J, a consumer staples, that defense.stock up 0.5%. But then another earnings story that didn’t do or didn’t play out too well today is Disney. A big takeaway for investors. Studios cost a lot of money and more than Wall Street was expecting, so Disney taking a hit to about 8% today. Meanwhile, we can see the tech trade, at least in the Dow, not doing the best. The only dark red spot we have is Nvidia, down 3.5%.And another thing, the dark red squares here, we have JPMorgan, IBM, Caterpillar, Goldman Sachs, all of these were trading at record highs a day or two ago. So it just goes to show you that this might be a little bit of sector rotation here. I don’t think I’ve talked with Kenny Polcari all day long here. He’s fielded a lot of calls.Main trend lines in the S&P 500 still in play, so this isn’t a sell the news event for everybody here. I just think there’s a little bit of concern given the breadth of some of these tech misses that we’ve seen lately. All
2:17 spk_1
right, good stuff, Jared Brooke, a sea of red today in markets. Anything hopeful optimistic on your front?
2:24 spk_2
Brian, a pretty bleak picture over here at the Nasdaq, and what we’re seeing is as Jared had mentioned that tech sell off really leading the downward momentum at the close today, as you mentioned the tech sector down more than 2.5%. Nvidia seeing its lowest close in nearly 3 weeks. Also to close eye at talent here because that stock is also seeing its lowest close since early October. And these are key names that have really led this AI momentum have led this tech rally, especially over the summer.In the fall and now into the end of the year now we’re seeing a bit of a pullback there as investors really assess this key AI bubble risk that we’ve been chatting about. I know some of our guests weighed in on that as well, really trying to mention the diversification or rather the flow through that AI will have now to other sectors. Other other stocks that have my eye are those hyper scales, the one doing this spending within this AI demand that includes Microsoft, Google, Amazon. Those are some of the companies that have really lacked.Behind the data centers over the last 6 months when it comes to the momentum that we’ve been seeing in this market and also Tesla. Tesla down more than 6% today, nearly 7%. This marks their worst day since late July. I think it’s also worth noting that Tesla has now reversed the gains that it made year to date, especially in September, October, and ahead of that $1 trillion pay package vote fromshareholders.
3:45 spk_1
All right, no optimism from Brooke and I know you have something for me, something positive.
3:50 spk_3
Risk off, risk off across the board, Brian. Look, crypto under pressure, gold under pressure, even the US dollar was slightly lower as well, but just double clicking on gold here is down 1% at around $4170 per ounce. It was above 4200 earlier this morning. It had rallied over the last several sessions, but this may be a little bit of positioning because what do you do ifThere’s a selloff. You may be taking profit off of the asset that’s done the best for you year to date. Year to date gold is still up about 60% for gold futures. Looking at digital gold, Bitcoin not faring well today, down about 3%, hovering above 98,000. That’s the lowest level since May 1 tailwind that strategists have been pointing to is the government reopening. That should help with liquidity as fiscal spending kicks in.So that should boost assets, but the question is where are the marginal buyers when it comes to Bitcoin because sentiment soured in October when you saw that big sell off fund managers have been trimming their positions of ETFs. Compass Point says that they’re seeing support at 95,000 and they don’t see any near term catalysts that would send it higher, but 10X Research, they’re saying that they’re watching the $93,000 level because if it does go to 9300.You could see an air pocket below that unless Bitcoin can climb into the $110,000 level.
5:26 spk_1
All right, thank you, Ali. I know you are, you are my last beacon of hope here in this hit. Anything positive, smiley, youname it.
5:34 spk_4
I do. I do have a couple of things positive, a couple of things negative, but let’s start with one of the things trending right now on social, which is Wamo, major move in the autonomous car race, becoming the first Robotaxi company to offer driverless.Rides on US highways, so we have new routes that have been rolled out for passengers in San Francisco, Phoenix, Los Angeles, more cities to come there, and this puts Waymo way ahead of those competitors like Tesla, like Uber, and it does come after our tech bull Dan Eyes was on our program just a few hours ago saying that our very own Yahoo Finance anchor Julie Hyman would be in a robo taxi in 2026, not necessarily a Wemorobo taxi, but a robo taxi nonetheless, andClearly with the news today, anything is possible in this space is just speeding right along. Now what’s not so positive there and something that is trending is more job cuts, particularly from Verizon. They are set to cut about 15,000 jobs, the largest layoff in the company’s history, and that’s about 15% of its workforce, and this does fit a broader trend that we’ve been talking about throughout the course of the day. Shark Tank’s Damon John telling me earlier that most jobs are going to go away.And that small businesses, they’re being hit by tariffs, they’re being hit by higher costs, and they don’t necessarily want to pass those costs on to the consumers, so they are pulling back spending where they can, and that includes hiring. So we are continuing to see this disconnect between big corporate America and Main Street also related to jobs. The White House confirming it will partially release October jobs data, just the payroll numbers, not the unemployment rate after the shutdown delayed all of that.government data. I’m sure that’s something that investors will definitely be wanting to parse through to really judge where we’re at within the current economy, but I will end on a really positive note here among all this doom and gloom, Brian, because Vine, it’s basically back y’all, and Brian, I don’t know if you know Vine, but I was a big time user of Vine. It’s a new app that’s relaunching. It’s called Dine. It’s backing from Twitter co-founder Jack Dorsey. It brings over 100,000 classic.Second Vine videos and lets users post new ones and the big thing here is that it will tell you whether something is AI generated. So it’s really trying to emphasize the human connection. I’m a millennial, so all us millennials are really going crazy over this, you know, pseudo return of Vine, and I can’t wait to get to get cracking. Maybe next best we’ll do a bunch of Vines, and that’s what we’ll do for this.
8:06 spk_1
Ilove to be some Vine, Ali. Thanks for bringing that up. I think I originally used Vine on my iPhone 2.
