00:03 Kilometers
Very well, the three main indexes by winning records in the middle of the Buzz while the closure of the American government lights up. Jared Blikre of Yahoo Finance joins us now with the take -out of the day of the trade. Jared.
00:10 Jared
Thank you Miles. We were able to start with the stop that Wall Street completely ignores. Not a big surprise. Uh, sometimes you see it hitting the bond market, but we are talking about record heights. As I said at the end today, five in a row for the Dow, the Nasdaq, S&P 500. Not only was that, there was a record in the S&P 500 equal weight. So it’s not just a story of concentration as we have been worrying for years. I mean, we see real things happening with some of the little guys.
00:46 Jared
And at this point, if I take a look at my leaders, my basket of ETF that I have somehow looked at, we are going to talk about crypto in a minute here, but look at Arc Invest is the number two, it’s a disturbance, solar energy, IPOs on the stock market, uh, we had a few tokens in it, biotechnology, China, then the memes, Jumps, too.
01:12 Jared
Miles, I brought you a gift here.
01:13 Kilometers
Oh my boy, let’s go.
01:15 Jared
Here we go. Guess what? Tootsie Roll.
01:17 Kilometers
Oh, thank you.
01:18 Jared
That’s right. So, finally reached a record.
01:21 Kilometers
Oh my God. Look at this graph.
01:23 Jared
It is a great graphic. That I do not even know if it shows you the UM which happened during the pandemic, because it was intraday. He literally increased here.
01:23 Kilometers
Amazing.
01:37 Kilometers
Yeah, I remember that. Yeah.
01:38 Jared
So, but it was intraday. We therefore obtained the first record at the top of two and a half years for Tutsy Roll. I think this kind speaks volumes about the rally that we see. Yeah.
01:50 Kilometers
Well, when you mentioned weighted equality, I of course thought of our old friend Josh Shafer, who constantly strikes the table on the equal weighted S&P. But, you know, we sit here and it’s like, Oh, Mag 7, Mag 7 that. But I think that this strength below the surface, and I know that we call these memes, but Robin Hood, Coinbase, these are companies that earn money now. As they are in a different phase. Pate is in the S&P 500. As these are in a different phase of their business life. And although they act as memes sometimes on the market, uh, it is, in a way, to diversify, to buy NVIDIA well every day, which, moreover, is also negotiated with a record.
02:26 Jared
Yes, and the entire flea complex, SOX reaching a record. So, yes, you have put everything in place, a lot of risks here. Yeah.
02:37 Kilometers
Very well, you mentioned the bond market. Let’s talk a little more about the nitty-Gritty there. Um and you know, we will talk about the curve, which is always one, you know, you want to be in knowledge, friends, say just, oh, I look at the curve. Yes.
02:51 Jared
Very well, so yes, we are going to talk about the cap of the curve. Now, as I said, the bond yields were a little low in the last two days, so not a big problem at the moment, but we fear that if the Fed decreases the rates too or too quickly, it will stoke inflation and that the Fed will lose control of the long term because they do not act directly on this. So, uh we have uh we sat with Euh Joe Bruce Willis and he is chief economist at RSM and we talked about it specifically on actions and translation. The episode was released today, so catch that and here is what he had to say about it.
03:23 Joe
Now here’s the problem. When Marin introduced the third term,
03:28 Joe
He frightened Wall Street. More uncertainty. Because Marin pushes excessive rate drops. This would almost guarantee that the Fed loses control of the long end, 10 to 30 years. And Mr. Marin, if you have noticed, you keep yourself away from it. They were peddled. But, you know, Jared, you know, ally, we are going to talk about MBS, Qe, Operation Twist and Curve of Yields, I think in the future. Because the logic of economic populism is that you want to act the economy, whatever happens and you manage these consequences on the road.
04:02 Jared
I love the way he talked about QE, buying mortgage titles, which is part of the yield curve control. This is where the Fed works specifically in the long term. He also mentioned the Twist operation. It is therefore a potential for a future problem, not a problem with which we are dealing at the moment, but I think it is very important to think. MHM.
04:26 Kilometers
Yes, uh, and maybe someone in future press conferences will ask if Jay Powell will tolerate an inverted yield curve. See if we can bring this one. Uh, okay, let’s talk about the main event. Let’s talk about what is happening on the cryptography market. Bitcoin, 120,000 tonight.
04:36 Jared
It looks great.
04:42 Jared
Yes yes. So we had a pretty little shaken. I think it was last weekend, and it was something I hoped to see. It did not go very well as far as I thought. But uh, let’s move on in the last 10 days, because it will capture exactly what I am trying to show here. So, we had this brief drop below 110,000, struck like 108 and we changed there, then we joined in recent days. And you don’t necessarily feel by looking at these line graphics. So I’m going to give you a chandel graph of two months, but you can really see all these green bars here. So what I like in the current configuration of Bitcoin is that uh and here is another look. It’s 6 months. When we hit this top, we had a good momentum. Yeah.
05:21 Jared
Then, when we reached this top, which exceeded it, we did it on less momentum. This is called divergence. And so many people would expect it to drop, bitcoin descends. And that’s what happened. But while we come back to these tops, we have a lot of momentum. So that is maintained, should be able to pass by these old summits. Another thing I love is that we have participated. It’s a bit like the extent of the cryptography market. So that’s what I also look at. Ethereum, Ripple, Solana, all that, even Dogecoin up 5%. It’s width.
05:52 Kilometers
Yes, let’s take a look at the ETH graphic too because it was UM it was a big story, you know, I mean, we can see it here during this period in August when we saw Bitcoin come back to these record levels. Uh it was like, oh, well, ethful wakes up, right? I haven’t seen these guys since always. Um and now we are talking about Eth, uh damn near a record. I think it was 4,800 maybe in 2022. Yes.
06:15 Jared
When the boy’s boy talks about gas costs, that’s when you know it’s time.
06:18 Kilometers
Well, and therefore, I am curious then, you mentioned like this global thing, as, where you see ETH in the context of the global cryptography market?
06:26 Jared
I think it blows 5,000 beyond the end of the year.
06:29 Kilometers
Very well, we will leave it there. Jared Blikre, thank you very much.
