Latest / Felix Nikolas Prehn's Podcast / Jobs Shocker Won't Flip FED + Stock Market News 02 February 2024

Transcript

Jobs Shocker Won't Flip FED + Stock Market News 02 February 2024 · Felix Nikolas Prehn's Podcast

• 0:00
  Speaker 1: Felix here and good morning to you.
• 0:01
  Speaker 1: We've got an insane day and absolutely insane day.
• 0:05
  Speaker 1: The job status just out is like out of this world, allegedly twice bigger than we thought.
• 0:12
  Speaker 1: We've got Meta literally up 17% right now, amazon up 6%, apple down 3.5%, like.
• 0:20
  Speaker 1: So how do we make sense of this all?
• 0:23
  Speaker 1: I'm gonna guide you through just the way a broker would in the mornings briefing his troops and his clients.
• 0:30
  Speaker 1: I would walk you through the data points, explain what they mean, look at the Amazon earnings, look at the detail of the stuff we've just got out and then actually form that into a coherent way we can make money out of this.
• 0:43
  Speaker 1: That's the mission, that's the vision.
• 0:45
  Speaker 1: Ask me lots of questions, smash the you know what and let's dive into it.
• 0:51
  Speaker 1: I'm gonna share my screen with you a little bit.
• 0:54
  Speaker 1: One thing's first, though.
• 0:55
  Speaker 1: Someone asked me by email this morning like what's the one thing I can do to really move the needle, and I said it's not picking the greatest stocks, it's not finding the 10X stock, it's not any of that.
• 1:10
  Speaker 1: It's not finding the greatest trade, it's just putting more money into the market.
• 1:14
  Speaker 1: That's the secret.
• 1:15
  Speaker 1: That's honestly the secret.
• 1:17
  Speaker 1: You put money into the market.
• 1:18
  Speaker 1: You're probably gonna get a 19X on average over the next 25 years or so, and that lever is something you wanna leverage.
• 1:26
  Speaker 1: And how do I do that?
• 1:27
  Speaker 1: I do that by making more money every week that I can then put back into the market.
• 1:32
  Speaker 1: If you wanna know how we do that, come and join me live on Tuesday.
• 1:35
  Speaker 1: I'll break down the whole strategy for you, show you exactly what I do, I'll do some live trading with you and I'll give you my strategy.
• 1:43
  Speaker 1: Okay, felix from SELOXWebinar, check it out, it's free of charge and sign up.
• 1:47
  Speaker 1: Grab yourself a seat.
• 1:48
  Speaker 1: Now I don't really know where to begin.
• 1:50
  Speaker 1: Honestly, just like.
• 1:51
  Speaker 1: This is the heat map Apple minus 3.5%, meta plus 16,.
• 1:56
  Speaker 1: Microsoft and Google can't quite decide.
• 1:58
  Speaker 1: And the SMP right now is basically flat.
• 2:02
  Speaker 1: It was green earlier by about a percentage point.
• 2:04
  Speaker 1: The QQQ is still green, pre-market the NASDAQ.
• 2:12
  Speaker 1: But we've got an absolute shocker of data out here.
• 2:16
  Speaker 1: Let me zoom in on it for you.
• 2:18
  Speaker 1: Here we go.
• 2:19
  Speaker 1: So we were expecting, we were expecting non-farm payrolls to come in at about 170, 180,000.
• 2:29
  Speaker 1: Get a different color pen.
• 2:31
  Speaker 1: We got apparently 353,000 jobs created.
• 2:36
  Speaker 1: Now, I haven't seen that data underneath it, but I would suspect most of those were in McDonald's toilets or something like that.
• 2:44
  Speaker 1: But that's just the shenanigans we've been going through.
• 2:46
  Speaker 1: But the unemployment rate has stayed flat, which also makes you think that that data is like what.
• 2:52
  Speaker 1: And it gets worse, unfortunately.
• 2:55
  Speaker 1: So why is it bad?
• 2:56
  Speaker 1: Isn't it a good thing?
• 2:57
  Speaker 1: Soft landing and all that, but not really.
• 2:59
  Speaker 1: Because the Fed can't really cut rates when the labor market's tight.
• 3:04
  Speaker 1: Our earnings, month on month, our 0.6% double, double what we were expecting.
• 3:11
  Speaker 1: That's wage inflation.
• 3:13
  Speaker 1: We don't like that.
• 3:14
  Speaker 1: Participation rates stayed flat.
• 3:16
  Speaker 1: That's kind of a good thing.
• 3:18
  Speaker 1: And weekly hours worked actually down, which is a bit confusing.
• 3:24
  Speaker 1: If the labor market was this tight, would that really be happening?
• 3:27
  Speaker 1: Well, they are making that shit up.
• 3:29
  Speaker 1: The government is once again hired almost double the amount of people we were expecting them to just part of the drive to communism.
• 3:38
  Speaker 1: And then non-farm payrolls private here coming in at double what we thought.
• 3:43
  Speaker 1: Yeah, it just doesn't make any sense.
• 3:46
  Speaker 1: It's just not logical.
• 3:47
  Speaker 1: But that's what the headline data is.
• 3:49
  Speaker 1: The market's kind of looking at this and going.
• 3:51
  Speaker 1: You expect us to believe this, and I think that's why the reaction is so muted.
• 3:55
  Speaker 1: If this data is true, the market should be down a percent today.
• 4:00
  Speaker 1: But I don't think anybody believes the data.
• 4:03
  Speaker 1: If this data was true, I think unemployment should have come down.
• 4:08
  Speaker 1: It hasn't.
• 4:09
  Speaker 1: So it's probably a load of nonsense made up by a bunch of statisticians.
• 4:14
  Speaker 1: Hope you do get certain people reelected.
• 4:16
  Speaker 1: Here it is again Phoenix Funcel Walkslash webinar sign up.
• 4:19
  Speaker 1: It'll literally take you to a page.
• 4:20
  Speaker 1: It looks just like this, or you're going to do put your name and even in the register and you get yourself a free seat.
• 4:27
  Speaker 1: Let's dive a little deeper, shall we?
• 4:31
  Speaker 1: What's the impact of it's?
• 4:32
  Speaker 1: What's actually happened here with this?
• 4:35
  Speaker 1: Well, the first thing that happened is the US 10 year exploded.
• 4:39
  Speaker 1: The US two year went up 4 percent, as I just checked, and it's bouncing off this very, very long-term trend line we've been on.
• 4:47
  Speaker 1: What does that mean?
• 4:49
  Speaker 1: It's very simple Higher yields should mean lower stock prices.
• 4:58
  Speaker 1: This is the way it works, kind of both things going up, at least not in the long run.
• 5:03
  Speaker 1: Here's the data again.
• 5:06
  Speaker 1: We just saw that the real impact is in this.
• 5:09
  Speaker 1: See if I can get this on the screen here for you.
• 5:11
  Speaker 1: A month ago, 70 percent of the market was expecting a rate cut in March.
• 5:18
  Speaker 1: This is the March rate cut expectation.
• 5:21
  Speaker 1: Right now it's 20 percent.
• 5:24
  Speaker 1: After today's data, we've gone down from 70 to just 20.
• 5:30
  Speaker 1: There'll be no March rate cut, I'm afraid.
• 5:32
  Speaker 1: Sorry to say folks, I know it would have been nice we could have had a party and all that kind of thing, but the moment it doesn't look like it, unless the labor market goes insanely nuts and one of the statisticians drops dead or something.
• 5:45
  Speaker 1: But it's not all bad.
• 5:48
  Speaker 1: It really isn't.
• 5:49
  Speaker 1: This is a sell-side indicator.
• 5:50
  Speaker 1: Ssi for those in the know smash the you-know-what and you'll be there as well.
• 5:56
  Speaker 1: 75 likes, only 350 people on the fence going who's this Natter?
• 6:02
  Speaker 1: And we have some room to go up.
• 6:09
  Speaker 1: Essentially, till we hit the red line on here is resistance.
• 6:13
  Speaker 1: We have a fair bit to break through there.
• 6:15
  Speaker 1: You can also really break through those in bubbles.
• 6:18
  Speaker 1: We're not quite there yet.
• 6:19
  Speaker 1: So that's quite positive.
• 6:20
  Speaker 1: There is room to go up.
• 6:22
  Speaker 1: If you look at the blackout period, it's over.
• 6:32
  Speaker 1: It's over.
• 6:34
  Speaker 1: What does that mean?
• 6:35
  Speaker 1: It means companies can buy back their own shares again, which is supportive for the market because it's like deflation basically, less shares out there means the remaining shares are worth more, and this is, of course, a good thing.
• 6:47
  Speaker 1: So we were in this monster blackout period from the end of the year and that's really really kind of fizzling out here in one February and it'll be completely over basically by about the middle of February, and then they can buy, buy, buy their own shares again.
• 7:06
  Speaker 1: So this is a supportive thing.
• 7:07
  Speaker 1: So this is actually good.
• 7:08
  Speaker 1: We've gotten through the worst of it without too much of a bloody nose.
• 7:13
  Speaker 1: I think that's that interesting, and we've passed it.
• 7:21
  Speaker 1: The NASDAQ is in its upwards channel.
• 7:24
  Speaker 1: Trajectory remains there.
• 7:25
  Speaker 1: We wanted to stay above the sort of 17,150.
• 7:31
  Speaker 1: Let's have a look where it's trading right here right now there, there, there, there, there.
• 7:38
  Speaker 1: And NDX when is it?
• 7:40
  Speaker 1: Oh, we need futures.
• 7:42
  Speaker 1: It's too early for that, isn't it?
• 7:45
  Speaker 1: Nasdaq, futures, nq here we go here.
• 7:50
  Speaker 1: She is at 17,500.
• 7:52
  Speaker 1: So we are pretty fricking safe for the moment to still have this upward momentum.
• 7:58
  Speaker 1: And look, the NASDAQ is actually up 0.4% despite this data, and that's because nobody, nobody, believes Biden's jobs data.
• 8:09
  Speaker 1: Now, is that just the thing that Biden came up with?
• 8:12
  Speaker 1: Nope, every president before him did it too, and we're going to bash them all, no matter who's in the office, couldn't care less, you know, republican, independent, communist, whatever, it's all the same thing to me.
• 8:23
  Speaker 1: Now, inflation this is from the good old folks at Goldman Sachs, the bankers with a big heart.
• 8:30
  Speaker 1: You know the woman, fuzzy ones.
• 8:31
  Speaker 1: You always see them in soup kitchens and that sort of thing.
• 8:33
  Speaker 1: Lovely people, really lovely people.
• 8:39
  Speaker 1: And they're saying that the PCE price inflation, which is the Fed's favorite inflation, by middle of the year is actually going to be at about 2.1%, which is fricking close to the 2% goal.
• 8:56
  Speaker 1: So we should be getting some serious rate cuts, probably in May, or if they're really really of the cautious type, then on the next one.
• 9:07
  Speaker 1: That's what Goldman says, and then you know, goldman runs the world.
• 9:12
  Speaker 1: Let me know T, you know that kind of thing.
• 9:13
  Speaker 1: Inflation expectations are also coming down, which is brilliant.
• 9:18
  Speaker 1: So people expect less inflation.
• 9:20
  Speaker 1: They ask for smaller wage increases and so on.
• 9:22
  Speaker 1: So inflation does seem to have been been fought quite nicely the US 10 year dipping here quite nicely as well, but probably going slightly in the wrong direction.
• 9:33
  Speaker 1: Now we've had gold this morning getting slightly hammered because I set up a gold trade yesterday, which is slightly irritating, but it's all right, don't worry, it's a small move and you'd expect that.
• 9:43
  Speaker 1: You'd expect the dollar to go up.
• 9:45
  Speaker 1: You'd expect gold to come down this morning on this data, even though nobody believes it, and there is still a lot of money in the kitty.
• 9:55
  Speaker 1: Why is there a lot of money in the kitty?
• 9:56
  Speaker 1: Because there is money, market money, which is money, and basically bonds, and that's a lot of it and it's more than ever because, well, the Fed and Papa Biden helicopter money all of that during COVID.
• 10:11
  Speaker 1: There's a lot of money about, and when the rates and the yields go down, more, more of this money is going to find its way into stocks where the yields will be bigger and yields actually starting to look pretty good again in the max seven.
• 10:26
  Speaker 1: I just put out a video on that, or I'm about to put out a video on that.
• 10:30
  Speaker 1: Someone is doing the timestamps, which is the one thing I really, really loathe.
• 10:34
  Speaker 1: But let's just look at Apple here and just to give you some perspective, apple is down 3.3%.
• 10:41
  Speaker 1: Is that justified?
• 10:42
  Speaker 1: I mean, watch the full video coming out later today.
• 10:44
  Speaker 1: But iPhone sales are up.
• 10:47
  Speaker 1: I thought that was the one thing that was definitely going to go down.
• 10:49
  Speaker 1: Nope, they sold $69 billion of Apple iPhones in one quarter.
• 10:56
  Speaker 1: No one buys iPhones anymore.
• 10:58
  Speaker 1: No, they like two billion devices in you, something like that, which is an ecosystem you could monetize the heck out of if you wanted to, and they're starting to do that with services, which is up 11%, which is pretty great.
• 11:10
  Speaker 1: Okay, the iPad is dead.
• 11:12
  Speaker 1: Well, 25% down.
• 11:14
  Speaker 1: In the watch, also, nobody wants at the moment.
• 11:16
  Speaker 1: Well, there's still 12 billion of them, so one or two people bought them.
• 11:20
  Speaker 1: So, revenue over all up 2%, which is an amazing.
• 11:23
  Speaker 1: But margin set up, operating profits are up.
• 11:25
  Speaker 1: Net profits are up to 33 billion.
• 11:27
  Speaker 1: So is this a business we should be worried about?
• 11:30
  Speaker 1: I don't think so.
• 11:32
  Speaker 1: I don't think so.
• 11:33
  Speaker 1: I think that services is going to grow into a bigger unit than the iPhone.
• 11:39
  Speaker 1: And how do you do that?
• 11:41
  Speaker 1: Subscriptions, advertising, that's where you go.
• 11:44
  Speaker 1: You just got to think of some services you can push through the phone that you can monetize at 90% gross margins versus, you know, 46% or 40% or something.
• 11:55
  Speaker 1: On the iPhone, you do that.
• 11:56
  Speaker 1: Bob's your uncle.
• 11:58
  Speaker 1: Look at Amazon.
• 11:59
  Speaker 1: Core business is incredibly, really, really shitty margins.
• 12:02
  Speaker 1: And then they're strapping on all this glorious stuff and they're making a lot of money.
• 12:06
  Speaker 1: So Apple's good.
• 12:07
  Speaker 1: I don't have an issue with it.
• 12:09
  Speaker 1: Obviously, that's not financial advice, it's just me.
• 12:11
  Speaker 1: But yeah, apple iPhone revenue here.
• 12:13
  Speaker 1: Look at that.
• 12:14
  Speaker 1: The same this quarter.
• 12:16
  Speaker 1: That's a pretty good quarter.
• 12:17
  Speaker 1: It's better than last year.
• 12:20
  Speaker 1: It's not quite as good as 2021, but then they haven't come up with a single innovation in two years, so it's not exactly three years, not exactly surprising.
• 12:28
  Speaker 1: Revenue is actually ticking up here after four miserable quarters, so that's also good news and Apple sales are.
• 12:40
  Speaker 1: Can you see that?
• 12:41
  Speaker 1: There's a sales by region?
• 12:42
  Speaker 1: So Asia, except for Japan, is doing really pretty well.
• 12:49
  Speaker 1: Europe big growth.
• 12:52
  Speaker 1: China, big growth big surprise there, and then sorry, that was the Americas.
• 12:58
  Speaker 1: Rest of Asia is also growing a lot.
• 13:01
  Speaker 1: So across the board, they're really growing like very significantly.
• 13:07
  Speaker 1: Yeah, china is not the future for Apple.
• 13:10
  Speaker 1: It just isn't going to be.
• 13:12
  Speaker 1: It's going to be that negative chart for a while.
• 13:13
  Speaker 1: Look at Japan, right.
• 13:15
  Speaker 1: Look at the rest of the world.
• 13:16
  Speaker 1: They're doing just fine.
• 13:17
  Speaker 1: I don't think we think I'm too worried about it.
• 13:20
  Speaker 1: They invented the USBC, did they, did they?
• 13:24
  Speaker 1: I thought they were forced to do that by the European Union.
• 13:26
  Speaker 1: There's lovely people who really have your iPhone, ipad, mac, wearable cells in millions.
• 13:35
  Speaker 1: This is for the eyeliner, like that one there.
• 13:37
  Speaker 1: That blue line I'm pointing out is services.
• 13:40
  Speaker 1: That's the future for me.
• 13:42
  Speaker 1: That's the future If you get that right.
• 13:44
  Speaker 1: I mean they're already getting that right.
• 13:46
  Speaker 1: But 20 something billion sales, 22 billion in sales.
• 13:50
  Speaker 1: That's going to exceed hardware sales, I'm telling you.
• 13:54
  Speaker 1: And here it is Apple's service revenue.
• 13:56
  Speaker 1: That's a glorious chart.
• 13:58
  Speaker 1: So it's becoming a service business.
• 13:59
  Speaker 1: It's absolutely frickin' wonderful.
• 14:01
  Speaker 1: It's easier to do, it's cheaper to deliver, it's higher margin Don't have to make pesky things in strange countries.
• 14:09
  Speaker 1: What about Amazon?
• 14:10
  Speaker 1: Let's run through that quickly as well.
• 14:12
  Speaker 1: It's the other one, and Amazon right now up 6%, met her up 16% still, which is kind of bonkers and Danzo.
• 14:26
  Speaker 1: Just because you don't use Facebook and you haven't in 10 years doesn't mean the other billion people here using it today aren't.
• 14:31
  Speaker 1: So I'm sorry to say that one person not using it doesn't really make much of a case.
• 14:36
  Speaker 1: It is what it is.
• 14:38
  Speaker 1: I'm getting more and more into Instagram.
• 14:40
  Speaker 1: I think it's actually a very, very cool platform to put out and reach more people, which is always my goal.
• 14:46
  Speaker 1: So Amazon, where we got Online store sales 9% up.
• 14:50
  Speaker 1: Third party sellers 20% up.
• 14:52
  Speaker 1: Advertising 27% up, and that's the bit of the business I love 15 billion in advertising and 10 billion in subscriptions.
• 15:00
  Speaker 1: To me, that's glorious.
• 15:01
  Speaker 1: Aws growing at 13% another 25 billion.
• 15:04
  Speaker 1: To me, that's the future.
• 15:07
  Speaker 1: That's the Amazon.
• 15:08
  Speaker 1: I didn't give a hoot about the Amazoncom business, but Amazoncom allows them to get the advertising money and the subscription money, which is incredibly high margin, which is why gross profit margins increased, operating margins increased, net profits increased.
• 15:23
  Speaker 1: So doing a good job Hate to say it, doing a good job.
• 15:27
  Speaker 1: So do we need to walk through every bit of data here?
• 15:32
  Speaker 1: Probably not, if you want to get your hands on that, like I'll share it in the community later on.
• 15:37
  Speaker 1: Amazon the profit margins here we now, second quarter in a row, just under 8%.
• 15:42
  Speaker 1: That's nice and stable and steady.
• 15:44
  Speaker 1: I think they can push that up some more as the service part of it again improves.
• 15:50
  Speaker 1: Just revenue growth is a little on the weak side, definitely a little on the weak side, but there is a private sector recession going on.
• 15:59
  Speaker 1: I know nobody wants to hear it, nobody wants to believe it.
• 16:02
  Speaker 1: Oh yeah, we got banks.
• 16:03
  Speaker 1: We got banks failing.
• 16:05
  Speaker 1: Anybody noticed?
• 16:05
  Speaker 1: Look at these banking charts.
• 16:09
  Speaker 1: Here You've got Western Alliance Bank Corp.
• 16:12
  Speaker 1: Down here You've got Zions Bank Corp.
• 16:15
  Speaker 1: You've got Charles Schwab, who is not looking wonderful, huntington and somewhere where they go, PacWest Bank Corp.
• 16:24
  Speaker 1: Can't see it on the chart, actually.
• 16:26
  Speaker 1: But yeah, small regional banks.
• 16:32
  Speaker 1: As this chart says, the banking crisis is back.
• 16:34
  Speaker 1: This was the S&P.
• 16:35
  Speaker 1: S&p freaked out and then people woke up and said oh you bankers.
• 16:39
  Speaker 1: Let me explain this to you A banking crisis is good for stocks.
• 16:43
  Speaker 1: It means we're going to get rate cuts.
• 16:45
  Speaker 1: It means they're going to stop shredding money and we're going to get a bailout.
• 16:48
  Speaker 1: Woohoo, communism.
• 16:49
  Speaker 1: That's basically what we're going.
• 16:51
  Speaker 1: The banking crisis that's brewing again is going to be good.
• 16:56
  Speaker 1: The regional banking ETF seems to have also recognized that.
• 17:02
  Speaker 1: Oh, don't worry about it, you're going to get bailed out.
• 17:04
  Speaker 1: Who cares?
• 17:05
  Speaker 1: Who cares?
• 17:06
  Speaker 1: Right?
• 17:06
  Speaker 1: So that's a funny story.
• 17:08
  Speaker 1: Let's move past a couple of these here.
• 17:10
  Speaker 1: But yeah, much rate cuts odds.
• 17:12
  Speaker 1: And now they're not actually, as this chart says, at 39%.
• 17:17
  Speaker 1: Let me show it to you Live.
• 17:20
  Speaker 1: Hang on, you can literally look this up.
• 17:23
  Speaker 1: Live interested about sleep rather than pulpific socket and sort of people's th Justice對不起 someone that watches you.
• 17:26
  Speaker 1: Activities that remind getting a ous eat pizza.
• 17:27
  Speaker 1: Thar Great idea.
• 17:27
  Speaker 1: Oh, okay, that was interesting.
• 17:28
  Speaker 1: What was the innovation going to be?
• 17:29
  Speaker 1: Who knows?
• 17:29
  Speaker 1: 17.5%.
• 17:37
  Speaker 1: 17.5% is not the expectation.
• 17:39
  Speaker 1: Yesterday it was 38%.
• 17:41
  Speaker 1: You thought there was going to be a rate cut.
• 17:42
  Speaker 1: A week ago it was half the people, 17%.
• 17:45
  Speaker 1: So nobody thinks there's going to be a rate cut now in March, and therefore you'd expect the markets to like collapse and go up in flames.
• 17:52
  Speaker 1: But no, the NASDAQ is actually up 0.4%.
• 17:55
  Speaker 1: Why you have to write a love letter to Papa Zuckerberg, that slightly creepy chap, to thank him for his service to humanity, you know well to the stock market today, because that's what's going up.
• 18:13
  Speaker 1: This was yesterday.
• 18:14
  Speaker 1: We don't need to go into that too much.
• 18:18
  Speaker 1: I think crude oil is coming down, which makes no sense, no sense.
• 18:23
  Speaker 1: Honestly, really bizarre.
• 18:26
  Speaker 1: You would expect what's going on in the Middle East it would be going down.
• 18:30
  Speaker 1: Let's have a look at the yields chart's life and the dollar index life as well, and I've got the chart in here.
• 18:35
  Speaker 1: Oh yeah, this is another one.
• 18:36
  Speaker 1: This is also where we're getting bailed out.
• 18:37
  Speaker 1: Reverse repo is getting drained and drained, and drained and therefore, as it gets to zero and expires on the 11th of March, they have to come up with something else.
• 18:46
  Speaker 1: They have to call it something else, but it'll be a bailout for the idiotic banks.
• 18:50
  Speaker 1: Bitcoin doing pretty well, ethereum doing pretty well, so the risk assets are on.
• 18:59
  Speaker 1: Are you on for Tuesday to learn how we trade one stock, three rules, 75% win ratio.
• 19:04
  Speaker 1: We did it yesterday.
• 19:05
  Speaker 1: We did a live trading session.
• 19:06
  Speaker 1: You could watch me live, 150 of you also tuned in from the student body, and I think we're making money, aren't we?
• 19:13
  Speaker 1: I think we're making money.
• 19:14
  Speaker 1: So check it out, felixrenceorg slash webinar.
• 19:17
  Speaker 1: We're up like a percentage point or something this morning and I suspect we're going to close with a nice, nice, tight little profit today.
• 19:26
  Speaker 1: I might even trade a couple of these things.
• 19:27
  Speaker 1: I mean, apple looks kind of interesting.
• 19:30
  Speaker 1: Possibly to look at Google.
• 19:35
  Speaker 1: Did we do Google yesterday?
• 19:37
  Speaker 1: I can't remember.
• 19:37
  Speaker 1: I'd love to have a look at that.
• 19:38
  Speaker 1: That might be worth a trade.
• 19:40
  Speaker 1: And then, if you're going to do with Meta, I mean, it's just black and bullish, isn't it really?
• 19:44
  Speaker 1: Give me your questions into the chat.
• 19:47
  Speaker 1: Let's have a look at what Bloomberg makes of it all.
• 19:50
  Speaker 1: Women drive US jobs gains with more entering the workforce.
• 19:54
  Speaker 1: Bloody women Got five of them on the chat here.
• 19:57
  Speaker 1: Apparently, for some reason, 95% of my viewers are male.
• 20:03
  Speaker 1: I am the woman repellent as I sit here.
• 20:07
  Speaker 1: So yeah, but the Fed is actually going to like that.
• 20:13
  Speaker 1: The Fed is going to like more people entering the workforce.
• 20:16
  Speaker 1: That's really what they want.
• 20:18
  Speaker 1: Whether you are a woman or an illegal entering in the labor market, they don't care.
• 20:21
  Speaker 1: They like you equally.
• 20:23
  Speaker 1: Employment rate, however, 3.7% kind of means it's a bit meaningless.
• 20:27
  Speaker 1: The wage gains data could be seasonal.
• 20:31
  Speaker 1: I don't really.
• 20:33
  Speaker 1: There it is male employment monthly change.
• 20:37
  Speaker 1: Female employment monthly change.
• 20:39
  Speaker 1: No, not to be rude, but a lot of female jobs are part time.
• 20:42
  Speaker 1: I suspect this is all going to come out as a total part time nothing burger.
• 20:46
  Speaker 1: That's usually what happens with NFP data.