Ep. 293 Launch Financial- Markets Remain Volatile as Earnings Season Kicks Off

So market is... mixed as we open uh the markets a lot of selling in south korea putting pressure on uh memory stocks in general then also spilling over into the chips we have early indications we have western digital uh sandisk applied materials all them down three plus percent um been a wild i guess time of course with the volatility in these stocks, as well as we talked about last week on the snaps.

big week last week and kind of hitting new all-time highs slightly off of that all-time high list.

But we had the S&P crossing 7,800 for the first time and then also the Dow 52,000.

So somewhat quiet given the news overnight in Korea was actually thinking that the market would be down further and more bifurcation in the markets because we have the Dow up yesterday quite substantially, and then the Dow up again.

That's also on the heels of strong earnings from UnitedHealthcare.

And then we had the banks reporting, JP Morgan reporting a bigger than expected loss.

So that's dragging on the Dow as we are recording.

So we'll pass it over to Ashley because there is a lot of data here right before we get into the more meat, I guess, of the S&P 500 earnings.

So Ash, leave it to you for the economic data.

Yeah.

So later this week, we're going to see inflation data for September that will be released, which could put a jolt in treasury yields as they've reached, you know, multi-decade highs over the last month or so.

Yesterday, like you said, the bond market was closed.

So it'll be interesting to see how kind of all of this unfolds in the back half of the week.

We're going to see actually in a few minutes, probably right after we are done recording, but existing home sales.

Tomorrow, we'll see the CPI, a lot of Fed rhetoric.

Thursday, we'll continue with retail sales, jobless claims, and PPI data.

And then Friday, to finish it off, we'll see import prices data.

So a lot to unpack this week, along with kind of the big kickoff of earnings season.

With the large kind of money center banks all reporting amongst others.

So we'll see how the market responds to all of this.

I think it's always interesting to take a look at the inflation data.

We always like to take a look.

Our friend Charlie Bilello always posts a great breakdown of kind of where we're seeing inflation.

kind of the different sectors of inflation kind of impacting everyone's wallet.

So we also saw an interesting stat from him actually, price increases since the start of the Iran war with European natural gas up 163% and then gasoline up 46%.