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Markets need to answer these big questions in 2026 · The Financial Exchange Show

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  Speaker 1: and Mike Armstrong, Chuck.
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  Speaker 2: Mike Tucker with you here on the financial exchange. And
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  Speaker 2: as we kick things off on the first full trading day,
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  Speaker 2: first full trading week rather of the new year, the
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  Speaker 2: Standard and Poors five hundred, or the S and P
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  Speaker 2: as it's more commonly referred to, that is up forty nine.
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  Speaker 3: Point nine to nine points.
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  Speaker 2: The Dow Jones Industrial Average or the Jones as it's
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  Speaker 2: commonly called, is up six hundred and twenty four points,
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  Speaker 2: and the NASDAK Composite or the NASDAK composite is up
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  Speaker 2: two hundred and nine points about one percent. So equity
• 1:47
  Speaker 2: staging a broad based rally to kick things off for
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  Speaker 2: the week here and when we take a look at
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  Speaker 2: other markets that are moving. US tenure Treasury down one
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  Speaker 2: point eight basis points to four point one one see percent.
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  Speaker 2: Dollar Index up point zero four percent to ninety eight
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  Speaker 2: point one ninety five. Gold is up almost three percent
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  Speaker 2: one hundred and twenty nine dollars and forty cents to
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  Speaker 2: forty four point fifty nine even at the moment, and
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  Speaker 2: we've got crude oil West Texas Intermediate up a dollar
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  Speaker 2: eleven a barrel now to fifty eight forty three. This
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  Speaker 2: follows the move over the weekend where the United States
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  Speaker 2: government UH captured uh Nicholas Madua, the president of Venezuela,
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  Speaker 2: and we now have a situation where there are some
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  Speaker 2: questions about the future leadership in Venezuela as to who
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  Speaker 2: will be in power and who will be supporting them,
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  Speaker 2: and it's raised questions about the eventual hopeful production increase
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  Speaker 2: of oil and the potential impact on the world economy
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  Speaker 2: as a result of that. I think where we generally
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  Speaker 2: land MIC is because of a number of factors, most
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  Speaker 2: notably uncertainty about the political situation in Venezuela, uncertainly about
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  Speaker 2: the security situation in Venezuela, the poor state of Venezuelan
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  Speaker 2: oil infrastructure, and the difficulty in actually getting the kind
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  Speaker 2: of oil out of Venezuela that is produced by it.
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  Speaker 2: I think you and I are kind of of the opinion, Hey,
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  Speaker 2: we're probably not going to see any major impact worldwide
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  Speaker 2: from this for at least one to three years. But
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  Speaker 2: we'll have to see how the situation evolves, because things
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  Speaker 2: are obviously very fluid pun intended.
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  Speaker 4: I was gonna say with the caveat that we're talking
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  Speaker 4: specifically about the ability and willingness for someone to get
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  Speaker 4: oil out of Venezuela. When it comes to follow on
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  Speaker 4: effects such as how does China or Russia or something
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  Speaker 4: tomorrow all this like any of the follow on action
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  Speaker 4: here when it comes to China's relationship with Taiwan, the
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  Speaker 4: US relationship with China, the trade of rare earth materials,
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  Speaker 4: like all of those things are I would say, to
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  Speaker 4: some degree a heightened risk of re escalating as a
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  Speaker 4: result of this. But when it comes specifically to the
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  Speaker 4: effect on oil markets and the ability for anyone to
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  Speaker 4: get oil out of the ground in Venezuela, yeah, I'm
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  Speaker 4: on the same timeframe with you.
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  Speaker 2: New York Times has a piece eight Big Questions for
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  Speaker 2: twenty twenty six.
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  Speaker 4: I don't think I have eight, but let's see what
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  Speaker 4: they came up with here.
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  Speaker 2: What do you think your big questions are? Before we
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  Speaker 2: do the New York Times? Why don't we do our
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  Speaker 2: big questions?
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  Speaker 3: I have several.
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  Speaker 4: My number one big question is can corporate earnings? Can
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  Speaker 4: you see an earnings payoff from artificial intelligence in twenty
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  Speaker 4: twenty six? I don't know precisely how I measure that yet,
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  Speaker 4: but that's probably my number one. Question number two is
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  Speaker 4: likely does the labor market deteriorate further?
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  Speaker 2: Materially related to that, Does cons and we're spending continue
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  Speaker 2: to hold up in the face of a weakening labor market?
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  Speaker 2: I think is an interesting one. Another one, does housing
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  Speaker 2: show a measurable improvement in transaction volume as prices continue
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  Speaker 2: to fall throughout larger portions.
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  Speaker 3: Of the country.
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  Speaker 4: Sure?
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  Speaker 2: I think those are, you know, kind of my interesting ones.
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  Speaker 2: Here's what New York Times has. What happens when more
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  Speaker 2: artificial intelligence initiatives leave the pilot stage.
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  Speaker 3: Hey, I mean, it's in line with what we're looking at.
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  Speaker 3: But I think a better proof for that is show
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  Speaker 3: me the productivity.
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  Speaker 4: Yeah, if something leaves the pilot stage and people buy it,
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  Speaker 4: then I'm impressed. If something leaves the pilot stage and
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  Speaker 4: the New York Times says it's cool, I don't care.
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  Speaker 2: Meta has had they've They've been selling their there are
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  Speaker 2: virtual reality goggles for years. They spent fifty billion dollars
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  Speaker 2: on them. Now hasn't done anything other ones? Howill President's
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  Speaker 2: Trump's policies affect the economy? Quite honestly, that's kind of
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  Speaker 2: table stage to the whole thing. I don't think that's
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  Speaker 2: a worthwhile like, how does any president's policies impact the
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  Speaker 2: economy in any given year. I don't think that's like
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  Speaker 2: a question where you're like, this is something I'm interested
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  Speaker 2: in this year. No, that's kind of every year with
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  Speaker 2: every president. So I don't think that's a worthwhile question.
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  Speaker 2: Here's a good one. And when one I can't believe
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  Speaker 2: I forgot is private credit a ticking time bomb?
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  Speaker 3: Why does that? Why do they have to tick? Is
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  Speaker 3: the question?
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  Speaker 2: Like, you know, why do they always have the big
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  Speaker 2: digital readout in the movies that tell you.
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  Speaker 3: How much time has left?
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  Speaker 2: It would seem to be more advantageous for the bad
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  Speaker 2: guy did not put a big timer on it.
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  Speaker 3: But I digress. This is a big one.
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  Speaker 2: We saw a few blow ups in September of last year,
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  Speaker 2: in particular, are there more coming and is it big
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  Speaker 2: enough to impact the US economy?
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  Speaker 4: Right?
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  Speaker 2: Will prediction markets maintain their momentum? Specifically, are people going
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  Speaker 2: to keep trying to gamble on whether or not I'm
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  Speaker 2: going to be able to grow hair this year? I
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  Speaker 2: don't think there's one for that, and I hope there isn't,
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  Speaker 2: But if there is, take the under because I'm probably
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  Speaker 2: not going to be able to grow any you know,
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  Speaker 2: real hair this year? Is crypto too big to fail?
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  Speaker 2: I don't know what that means, Like, do we really
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  Speaker 2: think that we're going to get crypto bailouts? If like that,
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  Speaker 2: that's that doesn't seem likely.
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  Speaker 3: That's it.
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  Speaker 4: That is the implication is that some institution is going
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  Speaker 4: to fail because of crypto markets and then the US
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  Speaker 4: government is going to bail it out. That seems extraordinarily
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  Speaker 4: unlikely to me.
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  Speaker 2: It seems kind of wild to me. Well, the space
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  Speaker 2: industry blasts off SpaceX I p O. Yeah, this is
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  Speaker 2: interesting to me, not to me.
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  Speaker 3: Okay, it's fine. Yeah, to each their own. I like space,
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  Speaker 3: you know, I'm kind of cool with space. Yep, got it.
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  Speaker 2: Will Democrats regain their leverage in Washington? So this is
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  Speaker 2: talking about midterms? I'm guessing and I have no idea.
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  Speaker 2: It's ten months away, but arguably important for twenty twenty
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  Speaker 2: sex important question. Yes, what's in store for oil prices?
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  Speaker 2: Not a twenty twenty six question, that's a question you
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  Speaker 2: ask every year. Then they go through also on our minds,
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  Speaker 2: and this is some just fun stuff that's not big.
• 8:27
  Speaker 2: What's next for Warner Brothers Discovery. As listeners know, I
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  Speaker 2: hope this story goes on for decades. I hope this
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  Speaker 2: like carries me like for like. It's such a good
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  Speaker 2: story that I just want to continue. Hang on staples
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  Speaker 2: in the way here.
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  Speaker 4: How will Mandani work with the business community.
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  Speaker 3: I don't think it matters unless you live in New
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  Speaker 3: York City.
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  Speaker 4: Agreed? Remove it? Well, I guess the New York Times,
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  Speaker 4: so oh yeah, Okay, I get why they care. Okay, fair, Yeah?
• 8:55
  Speaker 4: Will Wall Street raise its bid on college football Utah?
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  Speaker 4: The University of Utah recently took half a billion dollars
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  Speaker 4: from private equity to basically my understanding is, get a
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  Speaker 4: payday loan for their football program.
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  Speaker 3: Do more schools follow suit?
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  Speaker 2: And how quickly do they realize it's a bad idea
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  Speaker 2: because the private equity guys are really good at making
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  Speaker 2: money and keeping it for themselves.
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  Speaker 3: Agreed?
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  Speaker 4: And I don't think that's something they realize in twenty
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  Speaker 4: twenty six. Some my answers, yes they will.
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  Speaker 3: Yes, I agree, Well, K culture grow even more.
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  Speaker 4: I thought we were talking about K shaped economy culture here,
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  Speaker 4: and that's how nerdy I am. In fact, we're talking
• 9:32
  Speaker 4: about K pop demon Hunters and all things Korean.
• 9:34
  Speaker 2: Yes, BTS, who is the biggest boy band in the
• 9:37
  Speaker 2: world now, they're also a Korean you know, k pop band.
• 9:40
  Speaker 2: They've got their first new CD in years coming out
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  Speaker 2: this year, so get ready to hear about that. It
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  Speaker 2: would really be an interesting question actually if they did
• 9:54
  Speaker 2: a North American tour at some point, Compare what are
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  Speaker 2: the sales proceeds to the Taylor Swift tour from two
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  Speaker 2: years ago. I think that would be a really interesting
• 10:06
  Speaker 2: comp And will this Summer's World Cup tournament be a
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  Speaker 2: winning moment for soccer in the US?
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  Speaker 3: I tell you phrase that.
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  Speaker 4: I don't know, but I will say that even from
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  Speaker 4: a group of people that cares nothing for soccer, which
• 10:19
  Speaker 4: I was having dinner with over the weekend, and I
• 10:21
  Speaker 4: held my hand up there. We were all talking about
• 10:25
  Speaker 4: and wondering precisely how much we could rent our homes
• 10:28
  Speaker 4: out for the week when it is being played at
• 10:30
  Speaker 4: Gillette Stadium, and I am very seriously considering doing so.
• 10:34
  Speaker 2: Here's the thing, the slate of games. They expanded the
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  Speaker 2: World Cup field this year to forty eight teams from
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  Speaker 2: thirty two, which is a huge mistake because now you
• 10:44
  Speaker 2: have natural rivals Haiti and Scotland going out in the
• 10:47
  Speaker 2: first game at Jillette Stadium. And in case you don't
• 10:49
  Speaker 2: detect the undertone, Haiti and Scotland are not natural rivals
• 10:52
  Speaker 2: in anything, like you're gonna get a bunch of bad
• 10:57
  Speaker 2: games and people paying a lot for them and feeling.
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  Speaker 3: Like they got ripped off.
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  Speaker 4: That's fine. How much can I rent my house out
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  Speaker 4: for lots? Right?
• 11:05
  Speaker 3: Probably lost?
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  Speaker 4: We'll get to Gillette Stadium from my home in less
• 11:08
  Speaker 4: fewer than thirty minutes. Less than thirty minutes, I know
• 11:12
  Speaker 4: with game day traffic. Yeah, not with game day traffic,
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  Speaker 4: but without it that I think that I might be
• 11:17
  Speaker 4: able to get a pretty penny for it. And I
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  Speaker 4: think anybody south of I ninety is in the same boat.
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  Speaker 3: It's an interesting question.
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  Speaker 4: Not if you're in listen to us in like Washington State,
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  Speaker 4: but otherwise do they I am now, I am now
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  Speaker 4: interested in soccer because it is completely self serving.
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  Speaker 3: Good. I'm glad we got that out of the way.
• 11:39
  Speaker 2: Let's take a quick break and when we return, we'll
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  Speaker 2: do a little bit of trivia, and then we'll talk
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  Speaker 2: about big tech and whether we want to break them up.
• 11:48
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  Speaker 5: Financial Exchange, and on this day in eighteen fifty five,
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  Speaker 5: King camp Gillette was born. In nineteen oh one, King
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  Speaker 5: five Gillette was sold for fifty seven billion dollars. So
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  Speaker 5: trivia question today which company now owns and operates Gillette
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• 13:38
  Speaker 2: Piece in the Financial Times the US is losing its.
• 13:41
  Speaker 3: Battle to break up big Tech.
• 13:44
  Speaker 2: I'm not gonna start with that false premise. I'm not
• 13:46
  Speaker 2: really sure we ever had one. Yeah, you know, like
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  Speaker 2: I just I don't know that there was ever really
• 13:53
  Speaker 2: a convincing effort to break up big tech.
• 13:58
  Speaker 4: Every administration were the last. Trying to think of an
• 14:03
  Speaker 4: administration that didn't have pre significant ties to big tech.
• 14:07
  Speaker 4: And I mean maybe if I look back at the
• 14:11
  Speaker 4: last five administrations to take the White House, I think
• 14:14
  Speaker 4: the one that probably had the least friendly relationship with
• 14:17
  Speaker 4: big tech was either Trump or Biden, and neither of
• 14:20
  Speaker 4: which have you seen significant push towards anti monopoly cases.
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  Speaker 4: The biggest one that we saw.
• 14:29
  Speaker 2: Was padical one from each of them, you know, like
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  Speaker 2: the Trump administration had a couple, the Biden administration had
• 14:34
  Speaker 2: a couple. But it's kind of a situation where, again,
• 14:41
  Speaker 2: pay attention to what people do, not what people say.
• 14:44
  Speaker 4: Yeah, it's a popular talking point on the campaign trail.
• 14:47
  Speaker 3: And like, the thing is, I just.
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  Speaker 2: I just don't know that anyone actually cares enough to
• 14:56
  Speaker 2: do anything about this, And I find it kind of
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  Speaker 2: problematic because again, it's especially now that all these companies
• 15:05
  Speaker 2: are trying to come out with their AI machines to
• 15:08
  Speaker 2: do whatever, Like, yes, the technology can be used for good,
• 15:12
  Speaker 2: but I can't tell you how many things I read
• 15:14
  Speaker 2: they're just really quite awful about this stuff.
• 15:20
  Speaker 3: And I'm just not.
• 15:23
  Speaker 2: Sure that these are the people that you want to
• 15:29
  Speaker 2: be wielding that kind of power.
• 15:31
  Speaker 4: I tend to agree, but I'm with you that public
• 15:32
  Speaker 4: opinion doesn't seem to care much. I think one positive
• 15:37
  Speaker 4: that I have detected as a parent of young children
• 15:41
  Speaker 4: is that I am seeing more pushback against technology and
• 15:49
  Speaker 4: social media in the hands of young kids than I've
• 15:53
  Speaker 4: seen since the technology existed.
• 15:54
  Speaker 2: And by the way, I'll add on that that if
• 15:57
  Speaker 2: you look at some of the surveys that are being
• 16:00
  Speaker 2: done now on those demos and what they are showing,
• 16:06
  Speaker 2: they're showing exactly what you'd want to see. Lower incidence
• 16:08
  Speaker 2: of depression room compared to you know, four or five
• 16:11
  Speaker 2: years ago, lower incidents of you know, cyber bowling, like
• 16:14
  Speaker 2: all the stuff that you want to get rid of
• 16:16
  Speaker 2: is being gotten rid of. And quite honestly, it gets
• 16:21
  Speaker 2: to the point where I don't know how any school
• 16:25
  Speaker 2: district in America can allow phones to be present on campus.
• 16:30
  Speaker 4: Yeah, and so you're seeing some of that push.
• 16:32
  Speaker 3: They're starting to see it.
• 16:33
  Speaker 4: You're starting to see it here and there where schools
• 16:35
  Speaker 4: through high school have full on cell phone bands from
• 16:39
  Speaker 4: whatever it is nine am to three pm. Yeah, so
• 16:42
  Speaker 4: that they cannot be used or viewed in the classroom,
• 16:45
  Speaker 4: which I from all the expertise that I've seen, has
• 16:47
  Speaker 4: been seen as a big positive. And so again that's
• 16:52
  Speaker 4: not going to break up monopolies in this space. But
• 16:56
  Speaker 4: the effect that it has on big social media platforms
• 17:00
  Speaker 4: a decade from now, I'm not really sure what it
• 17:03
  Speaker 4: looks like. I think societally it's probably for the better,
• 17:08
  Speaker 4: But does it mean that Facebook has a very different
• 17:10
  Speaker 4: business model a decade from now possibly, I'll acknowledge that
• 17:13
  Speaker 4: it's a distinct possibility based on the changes we're seeing
• 17:16
  Speaker 4: among young Americans, or rather rop by parents of young Americans.
• 17:21
  Speaker 2: Let's talk a little bit about the auto industry. A
• 17:23
  Speaker 2: piece from Bloomberg indicating that US auto sales likely to
• 17:27
  Speaker 2: slip a little bit this year as middle class buyers
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  Speaker 2: pull back in the face of rising costs.
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  Speaker 3: Pretty much, whether.
• 17:35
  Speaker 2: You're talking about within the auto industry or outside the
• 17:37
  Speaker 2: auto industry, middle class families saying yeah, we don't know
• 17:40
  Speaker 2: if we can afford these stickers only.
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  Speaker 4: Counterpoint, interest rates are probably coming down again this year
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  Speaker 4: on auto loans, so, you know, not substantially, because a
• 17:50
  Speaker 4: lot of buyers are below are subprime borrowers, and those
• 17:53
  Speaker 4: rates are still going to be inordinately high.
• 17:56
  Speaker 3: But yeah, those aren't the drivers of new car sales.
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  Speaker 4: The dealers are pretty good at ofscating the interest rate
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  Speaker 4: that you're actually paying, and so.
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  Speaker 3: It would be surprising to.
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  Speaker 4: Me if Americans had the just the financial ability, the
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  Speaker 4: literal dollars to be able to keep the sales going
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  Speaker 4: at these prices.
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  Speaker 2: Yeah, it seems to be a challenge, and the data
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  Speaker 2: reflects this. By the way, new car sales have gone
• 18:24
  Speaker 2: up forty five percent among households with annual incomes of
• 18:27
  Speaker 2: one hundred and fifty thousand or more since twenty nineteen,
• 18:30
  Speaker 2: but they've plunged by thirty percent during the same period
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  Speaker 2: for those earning seventy five thousand or less and dropped
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  Speaker 2: seven percent among families with incomes between seventy five thousand
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  Speaker 2: and one hundred and fifty thousand, Which is why I
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  Speaker 2: also like this is the story that I tell quite often.
• 18:46
  Speaker 2: The people that are buying new cars buy and large
• 18:50
  Speaker 2: are wealthy. Like I know that we always poo poo
• 18:52
  Speaker 2: the person who's like, oh, like, don't take out you know,
• 18:55
  Speaker 2: like a car loan that's you know, one thousand dollars
• 18:57
  Speaker 2: a month for eight years. That person often is making
• 19:00
  Speaker 2: like two hundred and fifty thousand dollars a year. It
• 19:03
  Speaker 2: still doesn't make it a good idea to like to
• 19:05
  Speaker 2: do that in everything. But it's not someone with thirty
• 19:08
  Speaker 2: thousand dollars in income who's doing that because they can't
• 19:12
  Speaker 2: get that loan right. It still is something that is
• 19:16
  Speaker 2: you know, problematic and can lead to some trouble, but hey,
• 19:18
  Speaker 2: look it's it's your choice on what you want to
• 19:21
  Speaker 2: spend your money on and if you want to do
• 19:23
  Speaker 2: the eight year car loan for you know, one hundred
• 19:25
  Speaker 2: grand total, like fine, like have at it. It's not
• 19:27
  Speaker 2: my thing, but it could be yours. Take a quick break.
• 19:30
  Speaker 2: When we come back, we get the trivia answer in
• 19:31
  Speaker 2: Wall Street.
• 19:32
  Speaker 1: Watch, bringing the latest financial news straight.
• 19:43
  Speaker 3: To your radio.
• 19:44
  Speaker 1: Every day. It's the Financial Exchange on the Financial Exchange
• 19:47
  Speaker 1: Radio Network. Time now for Wall Street Watch. A complete
• 19:53
  Speaker 1: look at what's moving markets so far today right here
• 19:57
  Speaker 1: on the Financial Exchange Radio Network.
• 19:59
  Speaker 5: Market se a little bit of a rally to begin
• 20:01
  Speaker 5: the week, despite the weekend attack on Venezuela and the
• 20:04
  Speaker 5: capture of its leader. However, there really is no major
• 20:07
  Speaker 5: movement in terms of oil prices. Wall Street's also readying
• 20:10
  Speaker 5: for a on time jobs report coming up on Friday morning.
• 20:14
  Speaker 5: Right now, the Dow is up one point four percent,
• 20:17
  Speaker 5: or six hundred and sixty nine points, SMB five hundred
• 20:20
  Speaker 5: up about eight tenths of a percent or fifty four
• 20:23
  Speaker 5: points higher, NASDAC up about one percent or two hundred
• 20:26
  Speaker 5: and twenty seven points, RUSTLED two thousand up one point
• 20:30
  Speaker 5: two percent. Tenure treasure yield down two basis points at
• 20:34
  Speaker 5: four point one six seven percent. Crude oil up over
• 20:37
  Speaker 5: one and a half percent higher, trading at fifty eight
• 20:40
  Speaker 5: dollars and twenty eight cents a barrel. Chevron is among
• 20:43
  Speaker 5: the biggest energy winners on the day, as the company
• 20:46
  Speaker 5: is the sole remaining US major oil player in Venezuela.
• 20:50
  Speaker 5: That stock is up five percent. Other energy stocks, including Kneco, Phillips,
• 20:55
  Speaker 5: x On Mobile, and Haliburton are also seeing gains on
• 20:58
  Speaker 5: the day. Outside of energy, investors are awaiting the Consumer
• 21:02
  Speaker 5: Electronics Show to kick off later today in Las Vegas,
• 21:05
  Speaker 5: where chief executives of both in Vidia in AMD are
• 21:09
  Speaker 5: slated to speak. Both in Vidia and AMD are now
• 21:12
  Speaker 5: up over half a percent, and Comcast shares are up
• 21:15
  Speaker 5: nearly four percent higher now as regular trading of the
• 21:19
  Speaker 5: TV network owners Versust spinoff began today. Version shares, by
• 21:25
  Speaker 5: the way, are down fourteen percent. I'm Tucker Silvan. That
• 21:29
  Speaker 5: is Wall Street Watch, and in the previous segment we
• 21:31
  Speaker 5: asked you the trivia question which company now owns and
• 21:34
  Speaker 5: operates Chillette. That would be Procter and Gamble. Brian from Erie,
• 21:39
  Speaker 5: Pennsylvania is our winner today, taking home a Financial Exchange
• 21:42
  Speaker 5: Show T shirt. Congrats to Brian and we play trivia
• 21:45
  Speaker 5: every day here in the Financial Exchange. See complete contest
• 21:48
  Speaker 5: rules at Financial Exchange Show dot com.
• 21:52
  Speaker 3: Do you guys remember when CS used to be cool?
• 21:56
  Speaker 1: Yeah?
• 21:57
  Speaker 4: If all that it is this time is updates from
• 22:00
  Speaker 4: video on their latest semiconductor, then nobody's gonna care and
• 22:03
  Speaker 4: nobody's gonna watch.
• 22:04
  Speaker 2: Those aren't consumer products anyways. But the big thing is,
• 22:06
  Speaker 2: like the buzz this year is gonna be all like
• 22:09
  Speaker 2: AI smart home products and TVs and this and that, and.
• 22:13
  Speaker 4: Give me a robot that can fold my laundry. For
• 22:15
  Speaker 4: the love of God, Well, like, why aren't we here there?
• 22:18
  Speaker 2: I was exactly give me something like that as opposed
• 22:21
  Speaker 2: to well, LG is gonna be you know, Samsung is
• 22:24
  Speaker 2: gonna be debuting it's one hundred and fifteen inch TV.
• 22:27
  Speaker 4: Yeah, I don't need a car that Okay, what driving
• 22:30
  Speaker 4: style I needed?
• 22:31
  Speaker 2: You know, great, I don't need. Oh, you're gonna have
• 22:34
  Speaker 2: VR glasses there, No one cares.
• 22:38
  Speaker 4: Yeah, it's gotta be a a robot, humanoid robot that
• 22:43
  Speaker 4: can actually do something. That's what I'm looking for.
• 22:46
  Speaker 3: Something useful, not just something.
• 22:47
  Speaker 4: Are some really cool car technology? I'm I'm always into
• 22:51
  Speaker 4: what cars can you know, show off that's a new
• 22:53
  Speaker 4: cool technology. Hopefully RAM will be showing off their their
• 22:58
  Speaker 4: weird electric hybrid engine, Like is something that is actually
• 23:01
  Speaker 4: new in that space, because we keep getting promise self
• 23:04
  Speaker 4: driving cars, and I can tell you they're not here.
• 23:07
  Speaker 2: They seem to be pretty close, like way most seems
• 23:09
  Speaker 2: to be pretty darn close.
• 23:11
  Speaker 4: To give me a consumer product.
• 23:13
  Speaker 2: Yeah, well, I mean, if if you could have the
• 23:16
  Speaker 2: self driving car, then you don't need them, right, but
• 23:21
  Speaker 2: I'll buy it for pretty They they'd rather have you
• 23:23
  Speaker 2: pay them for, you know, having to use it. Seven
• 23:27
  Speaker 2: numbers shaping retirement in twenty twenty six one, two, three, four, five,
• 23:31
  Speaker 2: sixty seven. Uh, these are actually fairly interesting. So I
• 23:34
  Speaker 2: did not realize. Sixty four is now the average age
• 23:37
  Speaker 2: when men retire. That's up to about three years since
• 23:40
  Speaker 2: the mid nineties. That's a pretty substantial increase.
• 23:43
  Speaker 4: The age at which people filed for SAR security has
• 23:45
  Speaker 4: also moved up a couple of years. Unsurprisingly given the
• 23:49
  Speaker 4: changes that we've seen over the last few decades, the
• 23:52
  Speaker 4: total amount invested in retirement accounts has doubled over a decade.
• 23:57
  Speaker 4: Not shocking either, given what markets have done over the
• 23:59
  Speaker 4: course of less decade, but forty five point eight trillion.
• 24:03
  Speaker 3: The can we talk about that?
• 24:04
  Speaker 2: Actually, because that one surprised me sure in that it
• 24:08
  Speaker 2: surprised me that it's not.
• 24:09
  Speaker 3: Higher, that hasn't more than doubled.
• 24:11
  Speaker 2: Yes, because you have people making contributions and pension plans
• 24:14
  Speaker 2: making contributions, and over the last ten years, just as
• 24:17
  Speaker 2: an example, Uh, the S and P five hundred's total
• 24:21
  Speaker 2: return during that time is three hundred and five percent. Now,
• 24:25
  Speaker 2: I know that you're not invested one hundred percent there,
• 24:27
  Speaker 2: But if we looked at like the Bloomberg US aggregate index,
• 24:31
  Speaker 2: just as an example, let me get the total return.
• 24:35
  Speaker 2: Hang on, sorry, here we go. Nope, that's not gonna
• 24:39
  Speaker 2: be it. In any case, Bloomberg US aggregate index is
• 24:42
  Speaker 2: up twenty one percent over that time, which, yeah, that
• 24:45
  Speaker 2: checks out. And so I think ultimately you look at
• 24:49
  Speaker 2: this and even if you assumed like a fifty to
• 24:51
  Speaker 2: fifty split, you'd still say, okay, you may call it
• 24:53
  Speaker 2: one hundred and fifty percent.
• 24:55
  Speaker 4: Here's my answer. The youngest baby boomer is now like
• 24:58
  Speaker 4: sixty one years old.
• 25:00
  Speaker 3: You're starting to see more outflows that are kicking in there.
• 25:02
  Speaker 3: That makes sense.
• 25:03
  Speaker 4: Plus digraph plus the new rules on after death, really
• 25:08
  Speaker 4: after you die, the pace at which that money has
• 25:10
  Speaker 4: to come out. It is pretty darn.
• 25:13
  Speaker 3: Quick that clicks. Uh.
• 25:15
  Speaker 4: Eighty five percent of workers are participating in a four
• 25:17
  Speaker 4: to one K if they're offered one. It's pretty that's
• 25:20
  Speaker 4: a good number. That's a fairly solid number.
• 25:23
  Speaker 2: Twenty four thousand, five hundred is the new maximum four
• 25:26
  Speaker 2: to one K contribution for this year. Plus you've got
• 25:29
  Speaker 2: an eight thousand dollars ketchup for workers age fifty and older,
• 25:31
  Speaker 2: and then the super ketchup that is eleven two hundred
• 25:35
  Speaker 2: and fifty for age sixty two sixty.
• 25:38
  Speaker 3: Three this year. There's a lot of other ones. I think.
• 25:44
  Speaker 4: One that we talk about frequently on this program. The
• 25:46
  Speaker 4: average monthly cost of a nursing home in twenty twenty
• 25:49
  Speaker 4: four was ten thousand, six hundred and fifty dollars. Boost
• 25:53
  Speaker 4: that up by about forty percent.
• 25:54
  Speaker 3: Here in the New England area.
• 25:55
  Speaker 4: And that's where you're going to land from what I understand.
• 25:59
  Speaker 4: But look, all of these numbers are important for understanding
• 26:04
  Speaker 4: the greater context of American retirees. And if you are
• 26:08
  Speaker 4: entering twenty twenty six without your New Year's resolutions, happy
• 26:11
  Speaker 4: New Year. By the way, Tucker, This, by the way,
• 26:14
  Speaker 4: is the last day you can say Happy New Year.
• 26:15
  Speaker 3: No Friday.
• 26:16
  Speaker 4: That Friday was, And I'm going to continue to do
• 26:17
  Speaker 4: it until mid February, just to make Tucker.
• 26:19
  Speaker 3: I think after today, every show I'm going to do
• 26:22
  Speaker 3: it's Tucker. After today. It becomes a question as opposed
• 26:24
  Speaker 3: to a statement Happy New Year.
• 26:28
  Speaker 4: If you are entering the new year and you have
• 26:31
  Speaker 4: not put getting your financial house in order on your
• 26:35
  Speaker 4: resolution list, I really think now is the time to
• 26:38
  Speaker 4: do it. If you are over the age of fifty,
• 26:40
  Speaker 4: then you are staring down retirement within the next decade
• 26:44
  Speaker 4: and a half almost certainly, and take the time to
• 26:48
  Speaker 4: remove the anxiety that many feel about that next stage.
• 26:52
  Speaker 4: Do I have enough saved? Am I in the right position?
• 26:55
  Speaker 4: This is a conversation that I know firsthand. Couples asked
• 27:00
  Speaker 4: themselves very regularly. Do not ignore it. Get your time
• 27:05
  Speaker 4: spent on getting this financial house in order so that
• 27:08
  Speaker 4: you can remove that from the list of anxiety that
• 27:10
  Speaker 4: you might be feeling as we head into the new year.
• 27:12
  Speaker 4: Call the folks at Armstrong Advisory Group. We will set
• 27:14
  Speaker 4: up a free consultation for you and your family to
• 27:17
  Speaker 4: get an understanding of where you stand in terms of
• 27:21
  Speaker 4: your retirement future. The numbers eight hundred three nine three
• 27:24
  Speaker 4: for zero zero one make it your resolution. You can
• 27:27
  Speaker 4: check us out at Armstrong Advisory dot com and book
• 27:30
  Speaker 4: a time for us to call you back. But that
• 27:32
  Speaker 4: number once again, eight hundred three nine three for zero
• 27:36
  Speaker 4: zero one.
• 27:37
  Speaker 1: The proceeding was paid for by Armstrong Advisory Group, a
• 27:40
  Speaker 1: registered investment advisor. Nothing in the ad or in any
• 27:42
  Speaker 1: Armstrong guide a specific financial, legal or tax advice. Consult
• 27:46
  Speaker 1: your own financial tax into state planning advisors before making
• 27:48
  Speaker 1: any investment decisions. Armstrong make contact you to offer investment
• 27:51
  Speaker 1: advisory services.
• 27:53
  Speaker 2: Zilo CEO is ready for another slow year in the
• 27:56
  Speaker 2: US housing market. Boy, if that doesn't make me want
• 27:58
  Speaker 2: to go out and buy a forty two unit multifamily
• 28:01
  Speaker 2: after their failures predicting the housing market the last few years,
• 28:04
  Speaker 2: I don't know what does, but look, quite honestly, it's
• 28:09
  Speaker 2: going to be slow relative to what we saw in
• 28:17
  Speaker 2: twenty seventeen through twenty nineteen pre pandemic. Basically, everything that
• 28:23
  Speaker 2: I've seen out there is that you are going to
• 28:25
  Speaker 2: see more transactions taking place this year than last year
• 28:29
  Speaker 2: because there's more inventory and prices are starting to come down,
• 28:33
  Speaker 2: which will help to clear set inventory.
• 28:35
  Speaker 4: Yeah, so relatively, I mean comparatively good news for Zilo
• 28:38
  Speaker 4: after a pretty frozen housing market. They don't seem to
• 28:41
  Speaker 4: be jumping back into the we're going to buy houses
• 28:43
  Speaker 4: and try and flip them game again.
• 28:45
  Speaker 3: I just I remain.
• 28:49
  Speaker 4: A bit confused as to why Zilo doesn't better leverage
• 28:53
  Speaker 4: the eyeballs that they clearly have. This app is bigger
• 28:56
  Speaker 4: than many social media platforms these days in terms of
• 28:59
  Speaker 4: people that log in regularly, and you can't do some
• 29:03
  Speaker 4: very basic things that social media apps have, like share
• 29:06
  Speaker 4: it with share the listing with a friend, or have
• 29:11
  Speaker 4: AI analyze the picture and pick out the furniture for you. Like,
• 29:14
  Speaker 4: there are many monetizable factors here that Zillo isn't taking
• 29:18
  Speaker 4: advantage of that. I'm not saying I would like any
• 29:22
  Speaker 4: of these things in the app, but take a page
• 29:25
  Speaker 4: out of Facebook. Guys like you guys have a lot
• 29:27
  Speaker 4: of eyeballs, and I think you can be doing more
• 29:31
  Speaker 4: than selling leads to realtors who want to try and
• 29:34
  Speaker 4: get your listing.
• 29:37
  Speaker 2: There's actually a really good question that you can ask
• 29:39
  Speaker 2: just based off that, how is Zillo not a social
• 29:44
  Speaker 2: media app. Yeah, I mean, I'm not saying i'd want
• 29:47
  Speaker 2: it to be one, because I think that the user
• 29:50
  Speaker 2: experience for me would get worse. But is there anything
• 29:56
  Speaker 2: that people like to do more than like show off
• 30:02
  Speaker 2: this house they found or oh, here's this crazy one
• 30:05
  Speaker 2: I found on Zilla or well.
• 30:06
  Speaker 3: That's exactly my point is.
• 30:07
  Speaker 4: You know, even the Wall Street Journal allows users to
• 30:12
  Speaker 4: comment on what's going on in the on this on
• 30:16
  Speaker 4: the thing that they write. If you do a podcast,
• 30:19
  Speaker 4: you can have a chat in there. Like that does
• 30:21
  Speaker 4: not functionally exist.
• 30:24
  Speaker 3: It actually just clicked for me.
• 30:25
  Speaker 2: Why is trying to police that in an era where
• 30:31
  Speaker 2: people want to, like like on without consent, share information
• 30:38
  Speaker 2: about where someone lives is a huge problem. So I
• 30:41
  Speaker 2: now understand exactly why they don't allow that. Yeah, that's fair.
• 30:45
  Speaker 4: I'd be pretty quick to say, oh, look, this is
• 30:48
  Speaker 4: actually the listing for this is Suta, the host of
• 30:51
  Speaker 4: the financial Like this.
• 30:52
  Speaker 2: Is so and So's house, you know, like this is
• 30:55
  Speaker 2: where you know William Shatner lives, and you know, like
• 30:58
  Speaker 2: I could see how things could get out of hand
• 31:00
  Speaker 2: very very quickly there, And now it makes perfect sense
• 31:03
  Speaker 2: why they're not a social.
• 31:04
  Speaker 4: Network I doubt that that's the reason why.
• 31:06
  Speaker 2: I bet there's a lot of liability quite honestly, because
• 31:09
  Speaker 2: like you have every address in the I don't know
• 31:11
  Speaker 2: if it's the world, but at least in the country,
• 31:13
  Speaker 2: sure that's there, and trying to police that would be
• 31:18
  Speaker 2: a nightmare. Agreed to take a quick break when we
• 31:22
  Speaker 2: return stack Roulette.
• 31:24
  Speaker 1: The Financial Exchange Show podcast drops every day on Apple, Spotify,
• 31:28
  Speaker 1: and iHeartRadio. Hit that subscribe button and leave us a
• 31:31
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• 31:37
  Speaker 1: The Financial Exchange is Life on Series XM's Business Radio
• 31:40
  Speaker 1: Channel one thirty two weekdays from eleven to noon. Get
• 31:43
  Speaker 1: the latest business and financial news from across the country
• 31:46
  Speaker 1: and around the world, and keep up to date on
• 31:49
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• 31:52
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• 31:56
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• 32:00
  Speaker 1: at work.
• 32:02
  Speaker 5: The Financial Exchange is a proud partner of the Disabled
• 32:05
  Speaker 5: American Veterans Department of Massachusetts. The DAV five K raised
• 32:09
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• 32:35
  Speaker 3: Mike, what do you got for stock Roulette?
• 32:36
  Speaker 4: I'm gonna go down to New York City because about
• 32:39
  Speaker 4: a year ago they implemented their congestion congestion pricing on
• 32:44
  Speaker 4: the Island of Manhattan, Lower Manhattan, and it was a
• 32:48
  Speaker 4: big fiasco. It made national political headlines. The governor stepped
• 32:52
  Speaker 4: in to delay it. But the program has been in
• 32:56
  Speaker 4: effect since January fifth of twenty twenty five, and so
• 33:00
  Speaker 4: taking a look at how it works. So how it
• 33:01
  Speaker 4: does work is anytime between five am and nine pm,
• 33:04
  Speaker 4: if you enter the Island of Manhattan, you're paying an
• 33:06
  Speaker 4: extra nine buck toll to do so. I don't know
• 33:09
  Speaker 4: the exact streets where it's an effect, but so far,
• 33:12
  Speaker 4: what they found about seventy three thousand fewer vehicles are
• 33:17
  Speaker 4: entering the Central Business District each day. That's totally about
• 33:20
  Speaker 4: twenty seven million fewer entries. They do see spikes in traffic,
• 33:24
  Speaker 4: by the way, right before that five am time period
• 33:27
  Speaker 4: and right after that nine pm time period, Generally speaking,
• 33:31
  Speaker 4: traffic is faster in the congestion zone, about four and
• 33:34
  Speaker 4: a half percent faster moving traffic during that period of time, and.
• 33:41
  Speaker 3: Fewer pedestrian accidents.
• 33:42
  Speaker 4: Yeah, I mean, generally speaking, you're seeing the time to
• 33:47
  Speaker 4: transit the Lincoln Tunnel, the Holland Tunnel, Williamsburg Bridge all
• 33:51
  Speaker 4: up generally speaking double digit percentages compared to this time
• 33:56
  Speaker 4: last year. So I don't really know how you define
• 33:58
  Speaker 4: it as anything other than a success. I think the
• 34:01
  Speaker 4: answer how you would define it as less than a
• 34:03
  Speaker 4: success is it is certainly more costly to travel into
• 34:06
  Speaker 4: Manhattan via car.
• 34:07
  Speaker 3: Sure, and you might.
• 34:10
  Speaker 4: Personally find that reprehensible and unfair and unreasonable. Also, I'm
• 34:15
  Speaker 4: guessing there are plenty of people who said the impact
• 34:17
  Speaker 4: would have been far greater, and you would have been
• 34:19
  Speaker 4: able to see it greater. But I don't know. I
• 34:22
  Speaker 4: have always liked this type of economic solution to a problem.
• 34:27
  Speaker 2: Right, if your problem is too much traffic, you can't
• 34:30
  Speaker 2: build your way out of it with lanes Basically all
• 34:32
  Speaker 2: of the research out there is if you add more
• 34:36
  Speaker 2: space for cars, they.
• 34:38
  Speaker 4: Will occupy it, and the best economic answer is always
• 34:42
  Speaker 4: charge those who are willing to pay. There's been other cities,
• 34:45
  Speaker 4: for example, South Polo and Brazil basically made it so
• 34:49
  Speaker 4: that if your license plate ended in an odd number,
• 34:52
  Speaker 4: you could only drive on certain days in an even
• 34:54
  Speaker 4: number certain days, and it just didn't work terribly well.
• 34:58
  Speaker 4: And this is a perfect way to capture those who
• 35:01
  Speaker 4: are willing to pay that extra money.
• 35:03
  Speaker 2: Lawsuit accuses Chicago based McDonald's of deception on grounds that
• 35:07
  Speaker 2: McRib has no rib meat.
• 35:11
  Speaker 4: We see these lawsuits, I feel like every single year,
• 35:13
  Speaker 4: and almost never do they get anywhere.
• 35:16
  Speaker 2: No, and the lawsuit accused McDonald's of fraudulent omission or concealment,
• 35:21
  Speaker 2: fraudulent misrepresentation, negligent misrepresentation, and a whole bunch of other accounts.
• 35:27
  Speaker 2: And basically it says that the actual pork rib meat
• 35:31
  Speaker 2: cuts are not the cuts that are in there, to
• 35:35
  Speaker 2: which quite honestly, I say, even if they're not, which
• 35:40
  Speaker 2: I have no idea what's actually in a McRib, I'm
• 35:43
  Speaker 2: not gonna be the army truth, Like I don't know
• 35:46
  Speaker 2: what's in there. If you order it and you like it,
• 35:53
  Speaker 2: then what's the problem, right.
• 35:54
  Speaker 3: And what are the gonna be the damage?
• 35:55
  Speaker 1: Oh?
• 35:56
  Speaker 3: I ordered this thing one hundred times. I loved it.
• 35:58
  Speaker 4: I was under the impression it is ribs, and now
• 36:01
  Speaker 4: I turn out it turns out it's not. I'm seeking damages.
• 36:04
  Speaker 2: If you ordered it once and didn't like it, then
• 36:08
  Speaker 2: go get another lunch.
• 36:10
  Speaker 4: Also, if you worded it once and are going to
• 36:14
  Speaker 4: participate in this lawsuit, then anticipate receiving something like seven cents.
• 36:20
  Speaker 2: Like I again, I find these humorous just because it's
• 36:25
  Speaker 2: kind of like, okay, like we'll sue over anything these days.
• 36:29
  Speaker 3: But honestly, the only people who.
• 36:32
  Speaker 2: Win when you do this are the lawyers. They're the
• 36:35
  Speaker 2: only people who win when this happens. Yeah, and so
• 36:39
  Speaker 2: both sides, and so for once, billible hours, baby, for once,
• 36:45
  Speaker 2: don't let the lawyers wine.
• 36:47
  Speaker 4: No, not gonna happen.
• 36:48
  Speaker 2: They're all listening to this saying they're just noting along,
• 36:50
  Speaker 2: saying yes we're winning, like they're not to go along, and
• 36:54
  Speaker 2: there's nothing you and I can do to stop it
• 36:56
  Speaker 2: because they're lawyers. They they write the law, they understand
• 36:58
  Speaker 2: the law. You and I I don't. Indeed, but if
• 37:03
  Speaker 2: you're upset about the McRib, just don't eat it. You
• 37:06
  Speaker 2: don't have to sue over.
• 37:07
  Speaker 4: It, agreed. Last story here at Wall Street Journal, Americans
• 37:11
  Speaker 4: are looking to the Midwest to find affordability. Was just there.
• 37:14
  Speaker 4: Myself and I shared a real estate listing with Chuck
• 37:17
  Speaker 4: actually during the program last week, Yes, where we looked
• 37:21
  Speaker 4: at the property and I think it was a nice
• 37:25
  Speaker 4: property on a lot of land, well below a million dollars.
• 37:29
  Speaker 4: And we both looked at it and said, pretty much
• 37:31
  Speaker 4: anywhere in Massachusetts that's going for two million, plush. So
• 37:35
  Speaker 4: I get why people are doing so. And if you
• 37:38
  Speaker 4: can stomach not being a drive to the ocean, then
• 37:42
  Speaker 4: there's a lot to offer for you.
• 37:44
  Speaker 3: Lake Michigan's affordable basically the ocean.
• 37:46
  Speaker 4: Sure, I can't see the other side.
• 37:48
  Speaker 2: No, it's all that matters, you know, as long as
• 37:51
  Speaker 2: the lake's big enough that you can't see the other side,
• 37:53
  Speaker 2: it's the ocean. Take a bring you a little bit
• 37:55
  Speaker 2: of moret and salt there sprinkled in.
• 37:57
  Speaker 3: You're good to go.
• 37:58
  Speaker 2: Taking a look at markets we had towards the top
• 38:00
  Speaker 2: of the hour, the Dow is up seven hundred and
• 38:01
  Speaker 2: thirty two points. The s and p is up fifty eight,
• 38:04
  Speaker 2: the Nasdaq up two hundred and fourteen, so a bunch
• 38:07
  Speaker 2: of green on the board as we continue to kick
• 38:09
  Speaker 2: off twenty twenty six. We are back at it tomorrow
• 38:13
  Speaker 2: as we continue with a busy week of trading.