Latest / The Financial Exchange Show / Is Friday really a make or break day for the stock market?

Transcript

Is Friday really a make or break day for the stock market? · The Financial Exchange Show

• 0:01
  Speaker 1: The Financial Exchange is produced by Money Matters Radio and
• 0:04
  Speaker 1: is hosted by employees of the Armstrong Advisory Group, a
• 0:06
  Speaker 1: registered investment advisor. All opinions expressed are solely those of
• 0:10
  Speaker 1: the hosts. Do not reflect the opinions of Armstrong Advisory
• 0:12
  Speaker 1: or anyone else. Investments can lose money. This program does
• 0:15
  Speaker 1: not offer any specific financial or investment advice. Please consult
• 0:18
  Speaker 1: your own financial, tax, and estate planning advisors before making
• 0:21
  Speaker 1: any investment decisions. Armstrong Advisory and the advertisers heard on
• 0:24
  Speaker 1: this program do not endorse each other or their services.
• 0:27
  Speaker 1: Armstrong and Money Matters Radio do not compensate each other
• 0:29
  Speaker 1: for referrals and are not affiliated. This is the Financial
• 0:35
  Speaker 1: Exchange with Chuck Zada and Mike Armstrong, your exclusive look
• 0:40
  Speaker 1: at business and financial news affecting your day, your city,
• 0:44
  Speaker 1: your world. Stay informed and up to date about economic
• 0:47
  Speaker 1: and market trends, plus breaking business news every day. The
• 0:51
  Speaker 1: Financial Exchange is a proud partner of the Disabled American
• 0:54
  Speaker 1: Veterans Department of Massachusetts. Help us support our great American
• 0:59
  Speaker 1: heroes by visiting dav five K dot Boston and making
• 1:02
  Speaker 1: a donation today. This is the Financial Exchange with Chuck
• 1:07
  Speaker 1: Zada and Mike Armstraw.
• 1:12
  Speaker 2: Chuck Mike Zucker with the today and as we kick
• 1:17
  Speaker 2: things off, we got a little bit of right on
• 1:20
  Speaker 2: the board. But let's not all freak out about it.
• 1:22
  Speaker 2: The SMP's down thirteen points about a quarter percent. Dow
• 1:26
  Speaker 2: is off twelve points. It's not even a tenth of
• 1:29
  Speaker 2: a percent. The NASDAK composite is off sixty three points
• 1:35
  Speaker 2: about a quarter percent. Again, just not not anything of note.
• 1:38
  Speaker 2: I don't think there's anything huge moving in markets right now.
• 1:42
  Speaker 2: Tenure Treasury is up four point four basis points to
• 1:45
  Speaker 2: four point one pH two percent. Dollar Index down another
• 1:49
  Speaker 2: point oh four percent to ninety eight point seven to six.
• 1:53
  Speaker 2: We got gold up four to thirty and ounce to
• 1:55
  Speaker 2: forty two thirty six and eighty cents. Crude oil is
• 1:59
  Speaker 2: uh see, where's that puppy today? Fifty nine to fifty
• 2:02
  Speaker 2: a barrel, up fifty six cents a barrel. I will
• 2:06
  Speaker 2: point out, by the way, I don't know, Mike, have
• 2:11
  Speaker 2: you been paying attention to what's been going on on
• 2:13
  Speaker 2: the net gas front recently?
• 2:15
  Speaker 1: No?
• 2:17
  Speaker 2: So that gas yesterday clear the five dollars per million
• 2:22
  Speaker 2: BTUs for the first time since twenty twenty two. To
• 2:27
  Speaker 2: put this in perspective, at this time last year that
• 2:32
  Speaker 2: gas was trading at about three ten and so at
• 2:35
  Speaker 2: five it's up sixty six percent in the span of
• 2:39
  Speaker 2: a year, most of this in the last month or so.
• 2:42
  Speaker 2: Why this matters if it were to stay in this range, Mike,
• 2:45
  Speaker 2: what is the single heaviest input for power generation in
• 2:50
  Speaker 2: the United States?
• 2:51
  Speaker 3: That gas?
• 2:53
  Speaker 2: So those of you hoping for lower electricity prices next year,
• 2:56
  Speaker 2: if this price stays where it is could get a
• 2:59
  Speaker 2: little bit of a it might not be very good
• 3:03
  Speaker 2: for us on the electricity price side if net gas
• 3:06
  Speaker 2: prices stay in this five dollar range. I have no
• 3:10
  Speaker 2: idea if they will or won't. Ultimately, net gas prices
• 3:13
  Speaker 2: are a function of how much do you produce, largely
• 3:17
  Speaker 2: through fracking and things like that, which again, new wells
• 3:21
  Speaker 2: are declining right now because with oil prices so low,
• 3:25
  Speaker 2: you don't have an incentive to drill for oil, and
• 3:27
  Speaker 2: most net gas produced in the US is a byproduct
• 3:30
  Speaker 2: of fracking and things like that. The other piece is
• 3:34
  Speaker 2: the demand side, Mike. Do you know how cold it's
• 3:36
  Speaker 2: going to be this winter? Very well? Like relative to No,
• 3:42
  Speaker 2: I have no idea. No, no, I'm not a weatherman.
• 3:44
  Speaker 3: You know it's it's not Even if you were, I
• 3:46
  Speaker 3: don't think you would know how cold the weather is
• 3:48
  Speaker 3: going to be this.
• 3:48
  Speaker 2: Listen, let's not disparage our weather friends.
• 3:51
  Speaker 3: I'm not disparaging They don't know what the weather is
• 3:53
  Speaker 3: going to be three months from now.
• 3:54
  Speaker 2: They do, They probably don't even they say they don't.
• 3:59
  Speaker 2: But again, what weather wethermenu an Economists share an awful
• 4:01
  Speaker 2: lot because we're trying to make forecast based on imperfect
• 4:03
  Speaker 2: data that's always changing. And so I always defend our
• 4:07
  Speaker 2: brethren in meteorology because they've got a tough job.
• 4:11
  Speaker 3: It's not easy.
• 4:13
  Speaker 2: So in any case, you got mat gas prices that
• 4:15
  Speaker 2: are moving up here, and that bear is watching just
• 4:18
  Speaker 2: in the event that they stay in this range. Okay, Barons,
• 4:24
  Speaker 2: I love the Tucker really puts this in. He just knows,
• 4:28
  Speaker 2: he just knows it's going to get a rise out
• 4:31
  Speaker 2: of me. Why Friday is make or break for the
• 4:34
  Speaker 2: stock market? Was this one of my festivest And in
• 4:37
  Speaker 2: the first two sentences, the stock market isn't really doing
• 4:40
  Speaker 2: much of anything. Now Friday will set its true direction. Uh,
• 4:45
  Speaker 2: why the heck does Friday matter for the stock market?
• 4:48
  Speaker 3: Oh? Also expect big moves in all of these stocks
• 4:52
  Speaker 3: on Friday.
• 4:53
  Speaker 2: Ooh, I'm intrigued. Tell me more, Michael. Why why is Friday?
• 4:59
  Speaker 2: Which Friday's to it is?
• 5:01
  Speaker 3: Yeah?
• 5:01
  Speaker 2: Why is December fifth the most important day of the
• 5:04
  Speaker 2: year for the stock market?
• 5:05
  Speaker 3: First of all, it is not, oh, very clearly not
• 5:09
  Speaker 3: important to day for the stock market. You will have
• 5:12
  Speaker 3: an inflation reading. Oh, is probably going to surprise nobody.
• 5:17
  Speaker 2: Is it like new inflation data?
• 5:20
  Speaker 3: No, it's old.
• 5:21
  Speaker 2: When's it from Mike? Uh?
• 5:23
  Speaker 3: Like September?
• 5:25
  Speaker 2: Oh, it's Is anyone going to make any investment decisions
• 5:28
  Speaker 2: based on September inflation data?
• 5:30
  Speaker 3: No?
• 5:31
  Speaker 2: No, no, So it's useless. Like I just I really
• 5:38
  Speaker 2: struggle with uh with pieces like this again, that just
• 5:42
  Speaker 2: I don't think even accurately capture you know, whether this
• 5:47
  Speaker 2: inflation reading is important or not, which the answer is,
• 5:49
  Speaker 2: it's not.
• 5:49
  Speaker 3: Like I haven't read much worse clickbait this week. This
• 5:53
  Speaker 3: might be clickbait of the week.
• 5:55
  Speaker 2: What inflation was three months ago is not relevant to
• 5:59
  Speaker 2: Fed policy today. It is not going to have an
• 6:02
  Speaker 2: impact on the FED meeting next week. And that's all
• 6:06
  Speaker 2: I have to.
• 6:06
  Speaker 3: Say about that. What has to happen in markets for
• 6:10
  Speaker 3: this story to be proven true tomorrow, I would say
• 6:13
  Speaker 3: to you that you need to have a greater than
• 6:16
  Speaker 3: one and a half percent swing in equity markets one
• 6:19
  Speaker 3: direction or another tomorrow for this story to be even
• 6:22
  Speaker 3: close to the truth.
• 6:25
  Speaker 2: I mean, let's.
• 6:28
  Speaker 3: With no other announcements, right.
• 6:31
  Speaker 2: I don't think it's going to be related to inflation. Yeah,
• 6:33
  Speaker 2: and here's why, Like you look at, here's the thing
• 6:37
  Speaker 2: about PCE inflation. All right, I'm gonna tell everyone the
• 6:41
  Speaker 2: truth about pc inflation.
• 6:43
  Speaker 3: So huddle up, Okay.
• 6:46
  Speaker 2: Everyone knows what PCE inflation is going to be before
• 6:49
  Speaker 2: it's released. And it's not because anyone has any inside information.
• 6:53
  Speaker 2: It's because all of the big investment banks in their
• 6:57
  Speaker 2: inflation teams have gotten so good at extrapolating the inputs
• 7:03
  Speaker 2: from CPI and PPI that we know basically within like
• 7:09
  Speaker 2: a couple hundredths of a percentage point where the PCE
• 7:14
  Speaker 2: reading is going to come in. It doesn't surprise anyone
• 7:18
  Speaker 2: when it's released anymore because the banks have all gotten
• 7:21
  Speaker 2: really good at predicting it. And so even though PCE
• 7:25
  Speaker 2: is the Fed's preferred measure of inflation, all other inflation
• 7:29
  Speaker 2: measures are just sparkling inflation. They're not the Champagne of inflation.
• 7:33
  Speaker 2: Even though the PCE is the Fed's preferred inflation method,
• 7:38
  Speaker 2: it's not something that investors get surprised by at this
• 7:42
  Speaker 2: point because they've gotten so good at predicting it. It's
• 7:45
  Speaker 2: one of the least exciting reports released every month.
• 7:48
  Speaker 3: Yeah, this is going to surprise nobody, and if markets
• 7:52
  Speaker 3: move tomorrow won't be because of it.
• 7:54
  Speaker 2: No. No, the only way that you could get, you know,
• 7:58
  Speaker 2: the market moving, is if there was a huge surprise,
• 8:00
  Speaker 2: but there just aren't. Like it's you're not gonna get
• 8:03
  Speaker 2: inflation printing like six percent for the month or negative
• 8:06
  Speaker 2: two percent for the month.
• 8:07
  Speaker 3: Yeah.
• 8:09
  Speaker 2: So yeah, I I appreciate Tucker getting this in there
• 8:13
  Speaker 2: because it's, uh, it's it's nice to see him, you know,
• 8:18
  Speaker 2: doing what's important, just calling out clickbait. It is well
• 8:23
  Speaker 2: and it gets us excited too.
• 8:25
  Speaker 3: It does chuck in the first time. We were talking
• 8:27
  Speaker 3: about the job market and I want to return there.
• 8:29
  Speaker 3: We got a weekly job as claims number that showed
• 8:32
  Speaker 3: at least last week, there weren't a whole lot of
• 8:34
  Speaker 3: new filings for unemployment, but we described the labor market
• 8:37
  Speaker 3: as generally weak and no matter which way you measure it.
• 8:41
  Speaker 3: The unemployment rate is up over the last three years,
• 8:43
  Speaker 3: the pace of hiring is down, the ratio of unemployed
• 8:49
  Speaker 3: job openings is not as strong as it was a
• 8:51
  Speaker 3: few years ago. So we concluded that's the case. We
• 8:54
  Speaker 3: also called some data from Challenger Gray and Christmas quote crap,
• 8:58
  Speaker 3: which I'm sure we'll take some crap. Can we explain
• 9:02
  Speaker 3: why we feel this way because Challenger, Gray and Christmas
• 9:05
  Speaker 3: is reporting that the layoff announcements in twenty twenty five
• 9:08
  Speaker 3: are the worst we've seen since twenty twenty and on
• 9:10
  Speaker 3: the surface, that would make me really scared about my job.
• 9:15
  Speaker 2: So here's why I believe that the numbers from Challenger,
• 9:19
  Speaker 2: Gray and Christmas are crap. It's not because they actually
• 9:24
  Speaker 2: have bad data. They have good data. I'm sure they collect,
• 9:27
  Speaker 2: you know, really good data on layoff announcements. The piece
• 9:32
  Speaker 2: that was on CNBC this morning said it was something
• 9:34
  Speaker 2: along the lines of, hey, there have been you know,
• 9:36
  Speaker 2: one point one million announced layoffs this year. It's the
• 9:39
  Speaker 2: highest since year whatever. So like you get the headlines
• 9:42
  Speaker 2: that come out off of it, Mike, in a given month,
• 9:46
  Speaker 2: there are more than a million layoffs in the United States,
• 9:50
  Speaker 2: Like they're just there are, Like, if you look at it,
• 9:52
  Speaker 2: there's one hundred and sixty million people employed in the
• 9:55
  Speaker 2: United States right now, and when we look at the
• 9:59
  Speaker 2: level of labor turnover, okay, and specifically, I'm going to
• 10:04
  Speaker 2: pull the data right from the Job Openings and Labor
• 10:07
  Speaker 2: Turnover Survey Report, the JOLTS Report, which we get each
• 10:10
  Speaker 2: month from the federal government, and what the JOLTS rate says,
• 10:15
  Speaker 2: the JOLTS rate for layoffs, I'm looking at it right here.
• 10:17
  Speaker 2: It's not quits, it's not hires. It's specifically, is us
• 10:20
  Speaker 2: layoffs and discharges. It's one point one percent, which means
• 10:25
  Speaker 2: that in a population of one hundred and sixty million people,
• 10:29
  Speaker 2: you are having about one point seven million layoffs and
• 10:33
  Speaker 2: discharges on a monthly basis. The one point one million
• 10:37
  Speaker 2: in announced layoffs that are captured by Challenger, Gray and Christmas.
• 10:42
  Speaker 2: If we were to believe that this has some extrapolation value, okay,
• 10:47
  Speaker 2: then what you would see is, oh, because these you know,
• 10:50
  Speaker 2: announced layoffs have gone up, layoffs across the broader employment
• 10:55
  Speaker 2: market must have gone up as well. And in fact,
• 10:58
  Speaker 2: that's not what we're seeing because when we actually look
• 11:01
  Speaker 2: at the layoffs and discharges rate. It's been basically at
• 11:04
  Speaker 2: one point one percent for the last four and a
• 11:08
  Speaker 2: half years now, since March of twenty one. That's why
• 11:13
  Speaker 2: I call that data crap is because it's not predictive
• 11:17
  Speaker 2: in any way, shape or form to the actual larger,
• 11:21
  Speaker 2: broader data that is both measured on a regular basis
• 11:26
  Speaker 2: and then used to inform policy, Like the Federal Reserve
• 11:30
  Speaker 2: does not look at the Challenger, Gray and Christmas data
• 11:33
  Speaker 2: because it's useless.
• 11:36
  Speaker 3: It's useful if your company happens to make a layoff
• 11:41
  Speaker 3: announcement and you missed it. Other than that, I don't
• 11:44
  Speaker 3: find it useful.
• 11:44
  Speaker 2: Which again, if you missed it, it means that you're
• 11:46
  Speaker 2: still employed, right because like you know, so, I just
• 11:54
  Speaker 2: I don't think there's a viable signal there. Historically it
• 11:59
  Speaker 2: does have a correlation with continuing unemployment claims, but even
• 12:06
  Speaker 2: there it's it's like tenuous and bestil like not every
• 12:09
  Speaker 2: cycle sees it through. It's it's not a one to
• 12:11
  Speaker 2: one thing. There's a divergence in a number of business cycles.
• 12:15
  Speaker 2: And so it's just not predictive of the actual economic
• 12:20
  Speaker 2: data that's used to make policy. And so that's why
• 12:24
  Speaker 2: I call it crap. It's not because, like Challenger Grand
• 12:26
  Speaker 2: Christmas is doing a bad job collecting or publishing it.
• 12:29
  Speaker 2: It's just that it's not useful in markets economic forecasting.
• 12:33
  Speaker 3: All right, there's our rant of the day, quick break,
• 12:35
  Speaker 3: Ted Rossman from Bankreage joining us for holiday tipping. Next,
• 12:38
  Speaker 3: out of Financial Exchange.
• 12:40
  Speaker 1: This is your home for the most comprehensive coverage of
• 12:43
  Speaker 1: the economy and the trends on Wall Street. This is
• 12:46
  Speaker 1: the Financial Exchange Radio Network.
• 12:49
  Speaker 4: We're proud to announce that circle K is now the
• 12:51
  Speaker 4: official convenience store of the DAV Department of Massachusetts.
• 12:55
  Speaker 1: At circle K.
• 12:56
  Speaker 4: Supporting those who bravely served our country isn't just a commitment,
• 13:00
  Speaker 4: heartfelt mission. Circle K is honored to stand with the
• 13:02
  Speaker 4: dav Department of Massachusetts to ensure that veterans receive the
• 13:06
  Speaker 4: care and recognition they deserve. If you'd like to do
• 13:09
  Speaker 4: your part, please visit DAVMA dot org. Thank you for
• 13:12
  Speaker 4: standing with circle K and the dav Department of Massachusetts,
• 13:15
  Speaker 4: and thank you veterans for all you've done.
• 13:20
  Speaker 1: The Financial Exchange is now available every day from eleven
• 13:23
  Speaker 1: to noon. Non Serious XM's Business Radio Channel one thirty two.
• 13:27
  Speaker 1: Stay informed about the latest from Wall Street, fiscal policy,
• 13:30
  Speaker 1: and breaking business news. Every day, The Financial Exchange is
• 13:34
  Speaker 1: life on Serious XM's business radio channel one thirty two.
• 13:38
  Speaker 1: This is the Financial Exchange Radio Network.
• 13:42
  Speaker 5: This segment of The Financial Exchange is powered by circle
• 13:45
  Speaker 5: K Convenience Stores. Circle K is now the official convenience
• 13:49
  Speaker 5: store of the dav Department of Massachusetts. On behalf of
• 13:53
  Speaker 5: circle K, thank you Veterans for all you've done as promised.
• 13:58
  Speaker 2: Now joined by Ted Assman from bankut here to talk
• 14:01
  Speaker 2: about their twenty twenty five holiday tipping survey ted. How
• 14:05
  Speaker 2: are you today?
• 14:07
  Speaker 6: Doing well?
• 14:07
  Speaker 2: Good to be here, Ted, What kind of feelings do
• 14:10
  Speaker 2: Americans have about tipping this holiday season?
• 14:13
  Speaker 6: In general, people are pretty fed up with tipping. We
• 14:16
  Speaker 6: see about six and ten Americans have a negative view
• 14:19
  Speaker 6: towards the practice. A lot of people are just annoyed
• 14:22
  Speaker 6: about those pre entered tip screens at coffee shops and elsewhere,
• 14:26
  Speaker 6: and just the constant invitations to tip. Now, specific to
• 14:29
  Speaker 6: the holidays, people actually feel a bit more generous and
• 14:34
  Speaker 6: they kind of separate some of that annoyance. The holiday
• 14:38
  Speaker 6: tip tends to be more of a once a year's
• 14:40
  Speaker 6: show of appreciation for service. Workers in our lives, like
• 14:43
  Speaker 6: housekeepers and babysitters and people like that. We found that
• 14:47
  Speaker 6: the frequency of tipping is down a little bit, but
• 14:50
  Speaker 6: the amounts that people are giving are holding steady or
• 14:53
  Speaker 6: even increasing a little bit. That feels like further evidence
• 14:56
  Speaker 6: of the K shaped economy. Basically, higher earners are propping
• 15:00
  Speaker 6: up the overall numbers.
• 15:02
  Speaker 2: When you look at how things compare to you know,
• 15:07
  Speaker 2: kind of prior years. Are there any specific areas where
• 15:10
  Speaker 2: we might be seeing some differences compared to you know,
• 15:14
  Speaker 2: the last two or three years, or is it basically
• 15:16
  Speaker 2: you know the same in most key areas.
• 15:20
  Speaker 6: There are some interesting and somewhat conflicting kind of trends
• 15:24
  Speaker 6: here because, on one hand, among the things we asked about,
• 15:28
  Speaker 6: which I should say, were housekeepers, childcare providers, landscapers, teachers,
• 15:34
  Speaker 6: mail carriers, and trash collectors. In those six categories, in
• 15:38
  Speaker 6: every single one, fewer people are tipping this year than
• 15:41
  Speaker 6: they did last year. So that's not a great thing.
• 15:44
  Speaker 6: But if we zoom out a little bit, in all
• 15:47
  Speaker 6: these categories, except for one which was flat, which was
• 15:51
  Speaker 6: male carriers, the other five more people are tipping now
• 15:54
  Speaker 6: than we're back in twenty twenty one, so it's like
• 15:56
  Speaker 6: the long term trend is better than the short term one.
• 15:59
  Speaker 6: The amount are interesting as well. The amounts have actually
• 16:03
  Speaker 6: been quite steady the past few years, and generally speaking,
• 16:07
  Speaker 6: we're talking somewhere between twenty and fifty dollars per service provider,
• 16:11
  Speaker 6: depending on the category. The median was highest for housekeepers
• 16:16
  Speaker 6: and landscapers, that was fifty dollars a person. Childcare provider
• 16:20
  Speaker 6: was closed, and then it was quite a bit lower
• 16:23
  Speaker 6: for mail carriers twenty bugs, teachers twenty five, trash reom
• 16:26
  Speaker 6: recycling collectors twenty five. Those actually really have not changed
• 16:30
  Speaker 6: that much year over year or even in the last
• 16:33
  Speaker 6: five years. A couple of the categories went up a
• 16:35
  Speaker 6: little bit over five years, that would be landscapers and
• 16:39
  Speaker 6: trashroom recycling collectors. But for the most part it's actually
• 16:43
  Speaker 6: been a little more stable than year round tipping. We've
• 16:46
  Speaker 6: actually seen a more steady decline in the year round tips,
• 16:49
  Speaker 6: Like people are tipping worse at restaurants, they're tipping worse
• 16:52
  Speaker 6: at hair salons. Holiday tipping is kind of holding its own.
• 16:56
  Speaker 2: What about demographically, any demograph differences that you've seen.
• 17:02
  Speaker 6: Generally speaking, older people are better tippers, higher income people
• 17:07
  Speaker 6: are definitely better tippers. That often goes hand in hand.
• 17:12
  Speaker 6: Men are interesting because men are kind of boom or
• 17:14
  Speaker 6: bus tippers, like they're more likely to give a good
• 17:16
  Speaker 6: tip and they're more likely to give nothing at all.
• 17:19
  Speaker 6: Women are more consistent, even if the amounts tend to
• 17:21
  Speaker 6: be a little bit lower. We're painting with a fairly
• 17:24
  Speaker 6: broad brush here, but sure, in general, a lot of
• 17:28
  Speaker 6: young people don't like the whole tip and culture. A
• 17:31
  Speaker 6: lot of gen Zers in particular kind of pushback on
• 17:34
  Speaker 6: some of it from a social justice standpoint, and it's like, well,
• 17:37
  Speaker 6: it's not fair, we shouldn't be doing this. If you
• 17:40
  Speaker 6: work in a restaurant and you get a table of
• 17:42
  Speaker 6: gen z s, statistically they're going to be the worst tippers.
• 17:47
  Speaker 6: I would say, though, that fighting the tipping culture is hard,
• 17:50
  Speaker 6: especially nowadays, because it's just everywhere. It's the coffee shop,
• 17:54
  Speaker 6: it's the shoe truck. And I was asked to tip
• 17:56
  Speaker 6: at a self checkout machine at Newark Airport, asked for
• 18:00
  Speaker 6: tips in more places, and a lot of people resent that.
• 18:03
  Speaker 6: But if you don't tip, I'm not saying you need
• 18:05
  Speaker 6: to tip in all those situations, but like, if you
• 18:07
  Speaker 6: don't tip at a restaurant, or you don't tip the
• 18:09
  Speaker 6: food delivery person, or you don't tip the rideshare driver
• 18:13
  Speaker 6: or your hairstylist, they're really missing out. I do think
• 18:17
  Speaker 6: around the holidays though, people are tipping more out of generosity,
• 18:21
  Speaker 6: and they're tipping more generously when they really know the person.
• 18:24
  Speaker 6: If it's a housekeeper in your home every week, or
• 18:27
  Speaker 6: a regular babysitter or nanny, they're gonna get a better
• 18:30
  Speaker 6: tip than the mail carrier or the trash collector that
• 18:33
  Speaker 6: you might just not see as much.
• 18:36
  Speaker 2: Very good, Ted, appreciate you joining us today. Thank you
• 18:38
  Speaker 2: for sharing the results of your tipping survey with us anytime.
• 18:43
  Speaker 1: Thank you.
• 18:44
  Speaker 2: That is Ted Rossman from bank Rade talking about tipping.
• 18:49
  Speaker 5: All right, we'll do trivia quick here on the Financial Exchange.
• 18:52
  Speaker 5: On this day in nineteen eighty eight, Roy Orbison performed
• 18:54
  Speaker 5: his final concert. Orbison sadly passed away two days after
• 18:59
  Speaker 5: a heart attack. At the time of his death, Orbison
• 19:01
  Speaker 5: was a member of a supergroup with George Harrison, Bob Dylan,
• 19:04
  Speaker 5: Tom Petty and Jeff Lynn. So trivia question today, what
• 19:07
  Speaker 5: was the name of the supergroup that featured Roy Orbison?
• 19:10
  Speaker 2: Once again?
• 19:10
  Speaker 5: What was the name of the supergroup that featured Roy Orbison.
• 19:15
  Speaker 5: Be the sixth person today to text us at six
• 19:17
  Speaker 5: one seven three six two thirteen eighty five with the
• 19:20
  Speaker 5: correct answer along with the keyword trivia and win a
• 19:23
  Speaker 5: Financial Exchange Show T shirt. Once again, the six correct
• 19:26
  Speaker 5: response to text us to the number six one seven
• 19:29
  Speaker 5: three six two thirteen eighty five along with the keyword trivia,
• 19:33
  Speaker 5: will win that T shirt. See complete contest rules at
• 19:36
  Speaker 5: Financial Exchange Show dot com.
• 19:38
  Speaker 2: Taking a look at markets as we head towards the
• 19:40
  Speaker 2: bottom of the hour. Basically all three major US indities
• 19:43
  Speaker 2: down about a tenth of a percent, not much movement
• 19:46
  Speaker 2: in either direction. A pretty boring day to this point
• 19:51
  Speaker 2: in equity markets, Bob markets getting a little bit more
• 19:54
  Speaker 2: exciting again, yields continuing to rise there, but uh again,
• 19:58
  Speaker 2: equities not really moving too much. Quick break here when
• 20:02
  Speaker 2: we return, we got the trivia answer at Wall Street.
• 20:04
  Speaker 1: Watch, bringing the latest financial news straight to your radio
• 20:15
  Speaker 1: every day. It's the Financial Exchange on the Financial Exchange
• 20:19
  Speaker 1: Radio Network. Time now for Wall Street Watch. A complete
• 20:25
  Speaker 1: look at what's moving market so far today right here
• 20:28
  Speaker 1: on the Financial Exchange Radio Network.
• 20:30
  Speaker 5: Pretty quiet day on Wall Street to this point as
• 20:33
  Speaker 5: investors sift through weekly jobless claims data and ready for
• 20:37
  Speaker 5: the core PC index for the latest look in inflation,
• 20:40
  Speaker 5: due out tomorrow morning. Right now, the Dow is down
• 20:44
  Speaker 5: merely a tenth of a percent, or fifty points lower.
• 20:46
  Speaker 5: SMP five hundred is dipping five points. NASDAC also off
• 20:50
  Speaker 5: by only five points. Russ In two thousand is up
• 20:54
  Speaker 5: two thirds of a percent. Ten You're Treasure reeled up
• 20:57
  Speaker 5: four basis points at four point one zero four percent,
• 21:01
  Speaker 5: and crude oil up just over one percent higher, trading
• 21:04
  Speaker 5: a fifty nine dollars and sixty three cents a barrel.
• 21:08
  Speaker 5: Breaking news from Beta this morning, following reports that Mark
• 21:10
  Speaker 5: Zuckerberg is expected to meaningfully cut resources for building the Metaverse,
• 21:16
  Speaker 5: potentially with budget cuts as high as thirty percent next year.
• 21:20
  Speaker 5: MetaStock is climbing about four percent. Meanwhile, salesforce rising over
• 21:24
  Speaker 5: two percent higher after the software company hiked its full
• 21:27
  Speaker 5: year of guidance as its AI product agent force gained
• 21:31
  Speaker 5: some traction. As for its third quarter, the company beat
• 21:34
  Speaker 5: earnings forecast, but just missed expectations for its revenue. Elsewhere,
• 21:39
  Speaker 5: a cloud software company Snowflake posted at narrow a narrow
• 21:44
  Speaker 5: quarterly loss and reported growing demand for its AI agent. However,
• 21:48
  Speaker 5: its outlook for product revenue growth for the January quarter disappointed. Additionally,
• 21:53
  Speaker 5: Snowflake agreed to a two hundred million dollars deal with
• 21:56
  Speaker 5: AI startup in Thropic. Snowflake shares now down eleven percent
• 22:01
  Speaker 5: and Dollar General shares a jumping ten percent higher after
• 22:04
  Speaker 5: the discount retailer lifted its full year guidance after topping
• 22:08
  Speaker 5: third quarter expectations. I'm Tucker Silva and that is Wall
• 22:12
  Speaker 5: Street Watch. And last segment, we asked the trivia question
• 22:16
  Speaker 5: what was the name of the super group that featured
• 22:19
  Speaker 5: Roy Orbison. That would be the Traveling Willberry's Phil from Plastow,
• 22:24
  Speaker 5: New Hampshire is our winner today taking home a Financial
• 22:27
  Speaker 5: Exchange Show T shirt. And we played trivia every day
• 22:30
  Speaker 5: here in the Financial Exchange See complete contest rules at
• 22:33
  Speaker 5: Financial Exchange Show dot com.
• 22:36
  Speaker 2: Mike, we got a piece in the Wall Street Journal
• 22:38
  Speaker 2: three year end tax strategies that can cut your twenty
• 22:41
  Speaker 2: twenty five tax bill. That sounds fun.
• 22:44
  Speaker 3: Yeah, you know these are not to be dismissed. You
• 22:47
  Speaker 3: know there is still time to max out your retirement
• 22:49
  Speaker 3: plan hypothetically. You know, I don't know how many pay
• 22:52
  Speaker 3: periods are left, but you can jack up that tech
• 22:55
  Speaker 3: no salary contracts, mission ray pretty much. Yeah, you got
• 22:58
  Speaker 3: to leave enough in there to pay for your benefits,
• 22:59
  Speaker 3: but you could bump that up as high as it
• 23:02
  Speaker 3: can go. Obviously, charitable giving just understand you know the
• 23:06
  Speaker 3: limitations on how much you can deduct and where that's
• 23:09
  Speaker 3: going to come from, and you know how it's actually
• 23:12
  Speaker 3: going to affect your taxes before you do it. Tax
• 23:15
  Speaker 3: losses good luck. I mean, unless you bought crypto like
• 23:19
  Speaker 3: a month and a half ago, I don't know where
• 23:21
  Speaker 3: you're going to find your tax losses in your portfolio,
• 23:23
  Speaker 3: but maybe a.
• 23:25
  Speaker 2: Lot of the S and P five hundred if you're
• 23:27
  Speaker 2: a buyer of chargeable companies, yeah you can find some each.
• 23:30
  Speaker 2: S and P five hundred stock is not near its
• 23:33
  Speaker 2: all time high right now, despite the index being there.
• 23:35
  Speaker 3: So the other side of this, though, that I like
• 23:38
  Speaker 3: to talk about, is people always focus on, hey, how
• 23:42
  Speaker 3: can I minimize this year's tax bill? And there's something
• 23:45
  Speaker 3: to be said for that, but far too often they
• 23:48
  Speaker 3: do so at the risk of paying a whole boatload
• 23:52
  Speaker 3: of taxes in the not so distant future. Right how
• 23:55
  Speaker 3: many people have you talked to who retire and they're like, oh,
• 23:57
  Speaker 3: it's been great, I've paid no taxes the last three years.
• 24:00
  Speaker 3: And then you just kind of you don't giggle because
• 24:03
  Speaker 3: that's mean, but you look at you like, that sounds great,
• 24:06
  Speaker 3: But you're going to pay like an average effective tax
• 24:08
  Speaker 3: rate of twenty seven percent now for the rest of
• 24:10
  Speaker 3: your life because you didn't do the planning that you
• 24:13
  Speaker 3: should have. And so when looking at minimizing taxes, it
• 24:18
  Speaker 3: is not a year to year plan that you should
• 24:21
  Speaker 3: be doing. It is not a hey, how do I
• 24:23
  Speaker 3: minimize my taxes this year? You need to be thinking
• 24:26
  Speaker 3: about how do you minimize your taxes over a lifetime.
• 24:30
  Speaker 3: Otherwise it's quite honestly, just a useless exercise. I can't
• 24:34
  Speaker 3: tell you the number of people that just fell into
• 24:36
  Speaker 3: that exact scenario I talked about. I remember meeting with
• 24:39
  Speaker 3: somebody that was turning seventy that year and you told
• 24:44
  Speaker 3: me I have paid zero dollars in taxes for the
• 24:47
  Speaker 3: last decade. And I had to walk through and them like, yeah,
• 24:50
  Speaker 3: at that point in time, you required minimums started at
• 24:53
  Speaker 3: seventy and a half and I had to break the
• 24:55
  Speaker 3: news like, yeah, that's great, but now you are going
• 24:58
  Speaker 3: to be paying right choose its plus federal taxes on
• 25:02
  Speaker 3: this massive required minimum distribution that you should have been
• 25:05
  Speaker 3: spreading out. Tax planning is a critical part of financial
• 25:10
  Speaker 3: planning at just about every stage of life. If you
• 25:14
  Speaker 3: have questions about how you can integrate that into your
• 25:17
  Speaker 3: overall plan, if you're not doing it today, learn more
• 25:21
  Speaker 3: by calling Armstrong Advisory at eight hundred three nine three
• 25:24
  Speaker 3: for zero zero one. You can also book time to
• 25:27
  Speaker 3: chat with us at Armstrong Advisory dot com. But again,
• 25:31
  Speaker 3: nobody enjoys paying taxes, but believe it or not, there
• 25:34
  Speaker 3: can be good reasons to do so preemptively and prepay
• 25:37
  Speaker 3: what you might owe in the future. Call Armstrong Advisory
• 25:40
  Speaker 3: eight hundred three nine three for zero zero one.
• 25:43
  Speaker 1: The proceeding was paid for by Armstrong Advisory Group, a
• 25:46
  Speaker 1: registered investment advisor. Nothing in the ad or in any
• 25:48
  Speaker 1: Armstrong guide a specific financial, legal or tax advice. Consult
• 25:51
  Speaker 1: your own financial tax into state planning advisors before making
• 25:54
  Speaker 1: any investment decisions. Armstrong may contact you to offer investment
• 25:57
  Speaker 1: advisory services.
• 25:59
  Speaker 2: Mike, I wanted to do little holiday scam warning. If
• 26:02
  Speaker 2: that's cool, sure and specifically ones here that are you
• 26:05
  Speaker 2: know more, you know, unique to this time of year.
• 26:10
  Speaker 2: Bunch them out there. In terms of text messages saying
• 26:14
  Speaker 2: that you have a package that's delayed, click this link
• 26:18
  Speaker 2: to reschedule your delivery.
• 26:20
  Speaker 3: Get those every day.
• 26:21
  Speaker 2: Never ever do that. Wherever you ordered from, pull up
• 26:27
  Speaker 2: the original order email that you received from the merchant,
• 26:30
  Speaker 2: whether it is Amazon, whether it is you know, Gym's
• 26:36
  Speaker 2: Taco Kit Construction, whatever, whoever it might be.
• 26:41
  Speaker 3: Yeah, Gim's Taco Construction is a major organization these days.
• 26:44
  Speaker 2: It's a good one.
• 26:45
  Speaker 3: Yeah.
• 26:45
  Speaker 2: In any case, go find the original email, find either
• 26:49
  Speaker 2: the customer service number on it or the customer service
• 26:52
  Speaker 2: email on it, and reach out through that method, not
• 26:56
  Speaker 2: the person who just texts you, because there's like a
• 26:59
  Speaker 2: ninety eight percent that it's a scam.
• 27:01
  Speaker 3: Yeah.
• 27:01
  Speaker 2: Occasionally those are real, which is confusing. And again I
• 27:05
  Speaker 2: always check these, and I occasionally find one that is
• 27:08
  Speaker 2: real and you're like, oh, that's weird. I wouldn't have
• 27:11
  Speaker 2: expected it. But in any case, most of the time
• 27:15
  Speaker 2: scam other ones. If you see an ad while you're
• 27:19
  Speaker 2: on the website that says like, hey, ninety percent off
• 27:23
  Speaker 2: sale going on, be very careful that you are actually
• 27:27
  Speaker 2: clicking on a legitimate ad and not one taking you
• 27:30
  Speaker 2: to a scam website. Even on legitimate sites, there are
• 27:35
  Speaker 2: illegitimate ads. Is that the right word?
• 27:38
  Speaker 3: Yeah?
• 27:39
  Speaker 2: Yeah, So like you can be on Facebook and click
• 27:42
  Speaker 2: an ad and think you're going to see like Williams
• 27:43
  Speaker 2: Sonoma and you're actually going to like Williams No Money More,
• 27:48
  Speaker 2: and like that's the name of the website, but you're
• 27:50
  Speaker 2: not paying attention to the address and then it you know,
• 27:52
  Speaker 2: they basically take your credit card and stuff.
• 27:54
  Speaker 3: Where I'm seeing AI get implemented in this, I know
• 27:57
  Speaker 3: we've you know, warned about what's coming, which I think
• 28:00
  Speaker 3: eventually is voice replication on phone calls and scary stuff
• 28:03
  Speaker 3: like that. I haven't seen a lot of that firsthand yet,
• 28:06
  Speaker 3: but where I am seeing a ton of it. AI
• 28:08
  Speaker 3: is clearly scraping business websites and putting together scam emails
• 28:13
  Speaker 3: based on what they find on your company's website. So, hey,
• 28:15
  Speaker 3: you've got these thirteen employees, Great, I'm going to spam
• 28:18
  Speaker 3: all of them, and AI is going to create an
• 28:20
  Speaker 3: email that looks and sounds like it's coming from your
• 28:23
  Speaker 3: CEO and is in fact nothing of the sort. Where
• 28:27
  Speaker 3: I think that goes next is probably AI sorting through
• 28:31
  Speaker 3: social media and trying to build good, successful scams based
• 28:35
  Speaker 3: on what's happening on your Facebook and Instagram profile. But
• 28:39
  Speaker 3: we're not, from what I can tell, quite there yet.
• 28:42
  Speaker 3: But yeah, if you are still working today and your
• 28:45
  Speaker 3: website or your email address is out there, yeah, be
• 28:50
  Speaker 3: prepared for those scamm emails to come in that way,
• 28:53
  Speaker 3: you know what?
• 28:54
  Speaker 2: You know? What's one I actually got that recently was real.
• 28:56
  Speaker 2: So I woke up one morning and I have a
• 29:00
  Speaker 2: trip scheduled in like March of next year that I'm
• 29:02
  Speaker 2: staying in an Airbnb. I got a text message saying
• 29:06
  Speaker 2: your Airbnb's been canceled. Click here to reschedule. And immediately
• 29:09
  Speaker 2: I'm just like, no, not not real. I pull up
• 29:13
  Speaker 2: the airbnb website and it's like, oh, your trip's been canceled,
• 29:16
  Speaker 2: like click here to try to reschedule. Because A I
• 29:19
  Speaker 2: didn't know that a host could actually cancel your trip
• 29:25
  Speaker 2: right like they can just do that. I guess didn't know.
• 29:30
  Speaker 2: I figured like, once you booked, you were good. Turned
• 29:32
  Speaker 2: out that the host actually decided to sell their property
• 29:35
  Speaker 2: and so they canceled like everything. But I saw the
• 29:37
  Speaker 2: text message and it was just literally it didn't say
• 29:40
  Speaker 2: like from Airbnb or anything. It was just your trip's
• 29:43
  Speaker 2: been canceled. Click here. And then I saw like I
• 29:46
  Speaker 2: had an email. Also, I was like, okay, like something
• 29:48
  Speaker 2: might actually be up. Let's go check, and it was.
• 29:50
  Speaker 2: But it didn't come across in a particularly professional manner,
• 29:55
  Speaker 2: you know. So I found that kind of interesting. But
• 29:58
  Speaker 2: most of the time, my asumption as it's a scam.
• 30:01
  Speaker 2: Let's take a quick break when we come back. Stack Roulette.
• 30:05
  Speaker 1: Here The Financial Exchange every day from eleven to noon
• 30:08
  Speaker 1: Non Serious XM's Business Radio Channel one thirty two. Keep
• 30:12
  Speaker 1: it here for the latest business and financial news and
• 30:14
  Speaker 1: the trends on Wall Street. The Financial Exchange is now
• 30:17
  Speaker 1: life on Serious XM's Business Radio Channel one thirty two.
• 30:21
  Speaker 1: This He's the Financial Exchange Radio Network. Find daily interviews
• 30:26
  Speaker 1: and full shows of the Financial Exchange on how Are
• 30:28
  Speaker 1: YouTube page. Get caught up on anything and everything you
• 30:31
  Speaker 1: might have missed. This is the Financial Exchange Radio Network.
• 30:45
  Speaker 5: This segment of The Financial Exchange is brought to you
• 30:48
  Speaker 5: by the US Virgin Islands Department Tourism. There's still time
• 30:51
  Speaker 5: to book your holiday vacation to Saint Croix Saints Homas
• 30:54
  Speaker 5: or Saint John. Enjoy one or all three, and if
• 30:57
  Speaker 5: you act fast, you could be on Saint Croix to
• 30:59
  Speaker 5: experience there Christmas Festival, taking place this December through early January.
• 31:05
  Speaker 5: Discover the magic of this long standing tradition with incredible food, music,
• 31:08
  Speaker 5: and entertainment. Or just go soak up the sun, stroll
• 31:11
  Speaker 5: along white sand beaches and feel the rhythm of the
• 31:14
  Speaker 5: heartbeat of the islands. The USBI is America's Caribbean paradise.
• 31:18
  Speaker 5: Playing your winter escape now at visit USBI dot com.
• 31:22
  Speaker 5: That's visit USVII dot com.
• 31:25
  Speaker 2: Mike, what do you got for stack Roulette?
• 31:27
  Speaker 3: Fat cats? Uh ah, That's what I'm That's what I'm
• 31:31
  Speaker 3: going with. I sent this story to my to my
• 31:34
  Speaker 3: wife about our own cat, who is not nearly as
• 31:36
  Speaker 3: cat fat as this picture of a cat on this
• 31:40
  Speaker 3: on this story. But the drug industry is testing out
• 31:48
  Speaker 3: GLP one implants for cats, which I'm just kind of
• 31:53
  Speaker 3: confused about how we test drugs these days. To start with, like,
• 31:57
  Speaker 3: isn't it usually you test it on animals first, see
• 32:00
  Speaker 3: how it goes, and then like, oh, yeah, it worked
• 32:02
  Speaker 3: fairly well in rodents, Let's try it on a cat.
• 32:04
  Speaker 3: Or a dog or a chimpanzee. Oh yeah, I worked
• 32:07
  Speaker 3: pretty well there, let's test it on humans. We seem
• 32:08
  Speaker 3: to have rolled it out to humans and now we're
• 32:10
  Speaker 3: going back to cats on this one. So little confusing. Also,
• 32:16
  Speaker 3: with my pets, at least I feed them, and so
• 32:20
  Speaker 3: if I'm worried about them gaining weight, Like I get
• 32:23
  Speaker 3: how this is different with a human being, with you
• 32:27
  Speaker 3: more control over their independence. But my animals, we determine
• 32:32
  Speaker 3: how much food they get, and so if they become
• 32:34
  Speaker 3: too fat, rather than putting them on one thousand dollars
• 32:37
  Speaker 3: a month GLP one drug, I'd probably just cut some
• 32:42
  Speaker 3: of their food. Am I missing something new?
• 32:46
  Speaker 5: Uh?
• 32:47
  Speaker 3: I know you can't make your dog or cat exercise necessarily,
• 32:52
  Speaker 3: but well, what are we trying to do here? Make
• 32:55
  Speaker 3: our cats sexier? Like?
• 33:00
  Speaker 2: What are we trying to do here? This is a
• 33:05
  Speaker 2: solution in search of a problem. It's like, let's just
• 33:08
  Speaker 2: call it what it is. It's a solution in search
• 33:11
  Speaker 2: of a problem. Yeah, you do not need to o
• 33:14
  Speaker 2: zempic fi your cat? Okay, right, you do not need
• 33:19
  Speaker 2: cat zempic or what's the other one?
• 33:21
  Speaker 6: Oh?
• 33:21
  Speaker 3: Look at its cheekbones?
• 33:24
  Speaker 2: Right?
• 33:24
  Speaker 3: Like? What? Oh?
• 33:26
  Speaker 2: Your dog's canines are really prominent now, like I mean, like, guys,
• 33:30
  Speaker 2: I'm sorry, we've gone too far. I mean, look, we
• 33:35
  Speaker 2: knew the pendulum had to swing back from a couple
• 33:36
  Speaker 2: of years ago when Bloomberg told us to let your
• 33:38
  Speaker 2: pets die. But now we've gone too far in that
• 33:43
  Speaker 2: you don't need to give glp ones to your pet.
• 33:47
  Speaker 3: It's really expensive.
• 33:48
  Speaker 2: There's a nice middle ground there where you take your
• 33:51
  Speaker 2: pet to the vet, you feed them, you play with them,
• 33:54
  Speaker 2: and you do all those nice things that you're supposed
• 33:56
  Speaker 2: to do. And that's where we need to get to.
• 33:59
  Speaker 2: Not hey, my my cat's one pound overweight. Should I
• 34:04
  Speaker 2: use ozembic?
• 34:06
  Speaker 3: Can you imagine?
• 34:08
  Speaker 2: I mean, like, who looks at I gotta be honest,
• 34:13
  Speaker 2: who looks at an animal? And it's just like no, no,
• 34:18
  Speaker 2: you need you need to lose weight. I'm gonna like, yeah,
• 34:21
  Speaker 2: I again. We all have like pets in our lives
• 34:23
  Speaker 2: that occasionally like look a little chunkier, look a little you.
• 34:27
  Speaker 3: Know, dinner. I know that we all treat our pets
• 34:29
  Speaker 3: like as family members, and weight issues can cause earth
• 34:34
  Speaker 3: problems like early death, and pets like they can't use
• 34:37
  Speaker 3: their joints anymore, and they die early. But again, the
• 34:41
  Speaker 3: easy solution to that is forced your pet to lose
• 34:45
  Speaker 3: weight because it's not a human being. We don't most
• 34:51
  Speaker 3: of us. Most of us with pets are not to
• 34:54
  Speaker 3: McDonald's at midnight, right, We're.
• 34:56
  Speaker 2: Not sending them out into the fields to like hunt
• 34:58
  Speaker 2: for their dinner. That's not how most of us work with.
• 35:01
  Speaker 3: And if it were, it would be not overweight anymore
• 35:04
  Speaker 3: because it would be hunting its own dinner.
• 35:06
  Speaker 2: So I gotta say, this is a real problem here,
• 35:11
  Speaker 2: that that this is even being talked about. I don't.
• 35:14
  Speaker 3: I don't think it's a problem. I think it's very
• 35:16
  Speaker 3: funny text V. That's fantastic. I just uh, And.
• 35:27
  Speaker 2: Don't get me wrong, Like we do use human medications
• 35:30
  Speaker 2: on pets on a regular basis.
• 35:32
  Speaker 3: Sure, I have cat, cat has uh has diabetes. They
• 35:36
  Speaker 3: have to give it a shot of her day.
• 35:38
  Speaker 2: I have a family member whose dog has seizures and
• 35:41
  Speaker 2: there's no dog specific seizure medications, so they the vet
• 35:45
  Speaker 2: prescribes human medication for that. You know, it's but like
• 35:49
  Speaker 2: that's a specific problem that you're trying to deal with,
• 35:51
  Speaker 2: not Hey, my my pets a little overweight. Do you
• 35:55
  Speaker 2: think we need to start giving it shots once a month.
• 35:57
  Speaker 3: Oh man, I gotta drop my my animal health insurance
• 36:01
  Speaker 3: because if this stuff starts getting covered, it's gonna be
• 36:03
  Speaker 3: going through the roof.
• 36:04
  Speaker 2: Oh. I mean, it's just it's my my goodness, I
• 36:06
  Speaker 2: don't even know you know where to where to start
• 36:11
  Speaker 2: on this? Here? Another one here, This one from Bloomberg.
• 36:15
  Speaker 2: Tired Americans are spending more just to avoid chores. So
• 36:19
  Speaker 2: apparently ge has come out with what I do think
• 36:22
  Speaker 2: is kind of like the Holy Grail. It's kind of cool.
• 36:24
  Speaker 2: It's a washer dryer combo that you don't have to
• 36:28
  Speaker 2: like move things. Finally, the problem is that it costs
• 36:33
  Speaker 2: two thousand dollars to get it all into one unit
• 36:35
  Speaker 2: instead of you know, like twelve hundred dollars if you
• 36:40
  Speaker 2: just put them side by side. So the question is,
• 36:43
  Speaker 2: you know, over the eight to ten year lifespan of
• 36:45
  Speaker 2: a new washer dryer, is it worth it to you
• 36:48
  Speaker 2: to spend an extra one hundred dollars a year to
• 36:51
  Speaker 2: not have to move damp laundry from one side to
• 36:56
  Speaker 2: the other.
• 36:56
  Speaker 5: Well, to play Devil's advocate, it could be a space
• 36:58
  Speaker 5: saving maneuver too.
• 37:00
  Speaker 3: I like it, you know, this story like was trying
• 37:04
  Speaker 3: to mock people who are buying these expensive products that
• 37:07
  Speaker 3: make their lives easier. Some of them are silly, yes, absolutely,
• 37:11
  Speaker 3: like the closet that steams your clothes, Like, yeah, that
• 37:15
  Speaker 3: seems pretty silly, but have you ever.
• 37:17
  Speaker 2: Steamed a single clothes, not let alone multiple clothes?
• 37:21
  Speaker 3: Isn't this like the entire purpose of technology and innovation
• 37:26
  Speaker 3: is to make our lives easier. Now, some are gonna
• 37:28
  Speaker 3: be dumb, like a steaming clothes closet.
• 37:31
  Speaker 2: Do you remember the smart toilets from a couple of
• 37:33
  Speaker 2: years ago that would like read your bowel movements and
• 37:35
  Speaker 2: tell you what to eat?
• 37:36
  Speaker 3: Yeah? So, uh not all of these are gonna be.
• 37:44
  Speaker 2: If your cat's been eaten mice that have been you know,
• 37:47
  Speaker 2: in your laundry.
• 37:50
  Speaker 3: Yeah, so some of these are dumb, But I don't
• 37:52
  Speaker 3: think we should just mock a you know, washer dryer
• 37:56
  Speaker 3: combo for two grand, Like that's not that ridiculous.
• 38:01
  Speaker 2: Some of them are okay. Some of them are you know,
• 38:03
  Speaker 2: a little you know, like do you need to buy
• 38:07
  Speaker 2: an oven with a specialized pizza setting in it? Or
• 38:11
  Speaker 2: can you just turn your regular oven up really high
• 38:15
  Speaker 2: with a twenty dollars pizza stone in it. What makes
• 38:17
  Speaker 2: it special?
• 38:18
  Speaker 3: Well, I mean, a pizza oven is like a thousand degrees.
• 38:20
  Speaker 3: I don't think my oven gets that.
• 38:22
  Speaker 5: Well, now you can cook a pizza, a good pizza.
• 38:25
  Speaker 2: Yeah, yeah, oh yeah, you can do a great or
• 38:28
  Speaker 2: just turn the broiler on, put it the top rack
• 38:30
  Speaker 2: and you're good.
• 38:30
  Speaker 3: I don't make pizza. This is the easiest thing to
• 38:32
  Speaker 3: do take out.
• 38:33
  Speaker 2: For And there you go, ladies and gentlemen, there you go.
• 38:38
  Speaker 2: I don't know what we're saying that about, but in
• 38:40
  Speaker 2: any case, let's take a quick break until tomorrow, so
• 38:44
  Speaker 2: you know, take the day for the most important day. Mark,
• 38:46
  Speaker 2: get yourself settled, do your laundry moved from the washer
• 38:49
  Speaker 2: to the dryer, and we'll see you tomorrow on the
• 38:51
  Speaker 2: financial exchange.
• 39:00
  Speaker 3: Four