Hey everyone welcome welcome, oh this. Is it it's kind of crazy uh? This is the uh really one of the last big catalysts of this year is inflation data and it comes out in about two minutes which is really crazy. It's it's almost like anti-climactic uh, or maybe it's not. I don't know, maybe maybe it's pretty intense uh but uh the uh.

You know this. This is it uh. After this we have earnings and uh. You know sure we got the fed meeting in november, but big deal we kind of already know.

What's gon na happen, there uh this. This is this is the moment. This is where we kind of see. Are we actually gon na start getting an inflection point down in inflation? You know my expectation for the entire year has been.

This is the moment that we're going to see inflation inflecting down but uh. So far, all indicators have been saying no uh. You know that even even though that that theory was was good, uh reality is that uh shortages are uh much worse. Uh inflation is worse, uh, everything's worse than than expected, uh so far, so that's at least uh what the indicators are looking like so um, i don't know it's gon na be really interesting, but we're gon na know uh and uh.

What we're looking for here is uh. We got about 30 seconds. What we're looking for is a headline read uh of 5.3 is the expectation and a month over month of 0.3, so obviously anything exceeding that is probably going to be good for crypto bad for tech, but it would probably have to be. You know the d i mean 5.4 is not going to make a difference, but uh, you know some kind of actual exceed uh 5.5, something like that uh.

So you know we'll see it's gon na be really interesting, but uh anyway, let's uh, let's see what we got um! Oh there it is. They wow. They literally released that really fast there. It is 0.4.

It came out at 0.4 and 5.4. So a beat of 0.1 on both sides wow they released that like 10 seconds early, i feel like oh well, uh, okay, so that's actually not that bad it is. It is a beat. So it is a bigger number than expected.

Uh point. We were again we're expecting 0.3 we're expecting 5.3. We came in uh slightly above uh on both numbers point. One percent over on both the index for food and shelter, uh rose uh.

Let's see the index for food and shelter rose in september and together contribute more than half of the adjusted increase. The index for food rose 0.9, while the index for food at home raised 1.2. So how much did food and how much did shelter go up? Let's see uh the index for all items, less food and energy rose, 4.0 percent, the same time as uh the period ending august energy index rose 24.8 percent over the last 12 months. Food index 4.8.

Okay: let's look at the actual numbers here so where, where were the big numbers, uh unadjusted, 12 months, 5.4 percent for all items, new vehicles, eight point: seven percent, twelve percent uh, you know for uh year over year. What i really wan na do, though, is let's get into this. The table here. Uh, let's go consumer prices.

City averages all items, let's go for this, no one. There we go okay. This is gon na, be the let's actually go to this table here there we go percent change here we go so um, we've got this is the year-over-year change yeah? Actually, let's go to the month-over-month change, month-over-month change that this is easier. Okay! Well, we're looking for big numbers here, so folks, fresh biscuits 4.6 month over month.

It's a big number here we go. Uh beef went up like six percent lots of increases here. Food we've got uh. Where is rent? That's what i want to see: rent uh, rent of shelter lodging away from home was six percent, but uh rent of shelter was point four percent.

So it's really. It was hotels, other lodging away from home, including hotel and motels six point, eight percent, ah, okay, so and then we have gardening and lawn care services, uh, gardening and lawn care services up 6.1. So this is actually one of the concerns is that service inflation would start going up uh and we're kind of seeing that services less energy, though 0.3 percent sort of on the wide. Let's see car and truck rental 5.2.

So there goes there go rental prices again. Uh video discs and other media down 4.1 admission to sporting events down 2.2 delivery service is actually down 2.8. It seems kind of surprising uh. Let's see here commodities, how can commodities in in the cpi read basically be flat? That seems that seems wild um all right.

So so far i mean this is uh. This is kind of right at expectations. I i was um. Well, i guess the expectations were relatively close.

Uh, let's see here, we're gon na also quickly see how the spy is reacting, but again we're coming in at 5.4 percent year over year, no inflection to the downside yet uh and we're coming in at uh 0.1 percent higher than expected yeah in um uh the Month over month, but uh take a look at this. The market really not reacting at all here so far uh. This is this is your spy reaction. It's super super nominal right now, mostly because it's basically ad expectations so looking again at some of the other details here, bakery products, 3.1 percent white bread, 3.5 percent, fresh biscuits and rolls 4.6 um.

What about used cars? How about used cars? We saw new cars were going up used cars. Let's see here, used cars come on used cars and trucks, only 0.2 percent, so it was really new vehicles uh that we saw a shift in well. I must let's see oh unless i particularly misread that, because here there's one point: seven percent on new vehicles - oh it was year year over year, was like eight percent on new vehicles. Month over month, the new vehicles was only 1.7 used.

Cars was 0.2, that's pretty nominal yeah. Look at this foot. Uh girls, apparel uh, is down 5.6 women's dresses again up 5.5 percent. So sort of these, like really odd individual things because men's suits are down 5.5, but it's it's women's dresses are ruining it.

So everybody stop buying dresses window coverings down 4.3 percent, see last month that was uh. That was a mover. This is this is very interesting, uh, okay, well uh! This is very, very interesting, uh, let's uh, let's see here uh, but actually they're, not even really talking about it over on on cnbc. Let me see what bloomberg's saying about it, because it's relatively nominal selectors yeah this - and this shows us the other months here - percent change, uh, okay, huh! No, it's kind of what we've already reviewed wow! Well, there you have it released october 13th, uh, okay, so bloomberg prices paid by u.s consumers rose in september.

More than forecast again by that point. One percent on the month over month point one percent on the annual okay and, let's see here, combination of shipping challenges. Material shortages, high commodity prices, rising wages, have driven up prices. The report will likely reinforce the fed's inclination to start tapering asset purchases, especially supply chain challenges.

Okay, i mean so far, not not much here. Uh, that's uh! That's super different, in fact, even looks like crypto. If anything, cryptos may be moving a slight bit here. Let's look at ethereum and bitcoin um.

Let's go to the minute chart here and see what we got barely, though, barely look at that you got a little move here, but then it almost immediately rotated back down the market reaction so far is literally like nothing. Uh literally no reaction here, uh kind of interesting, so uh, let's see here, um, okay, that's the 12 month, adjusted here's the adjusted month. This is sort of the headline stuff here: foo fuel 3.9 percent. These are just some of the headline items.

I'm just reading. Some of the ones that they've mentioned here, the food away from home index rose a half percent in september after increasing 0.4 in august. These increases offset a decline in the index for employee sites and schools which continue to fall decreasing 6.4 in september. So it's becoming cheaper to eat at work and school than it is to to take things to go okay index for beef up substantially wow medical care index was unchanged.

That's a big service index as well. So you go back to it for a moment. Uh oh sample airing, wow, well um kind of anti-climactic, because you're very, very close, seasonally seasonally, just uh okay. This is these.

Are the adjustments yeah we've kind of gone through this now? Let's here we are all right, all right well, august, to september, that's the seasonal adjustment on the left and on the right is the uh adjustment, hmm yeah beef, fresh milk, potatoes, 3.4 percent juices and non-alcoholic darn, it orange juice. Other fats include oils, including peanut butter, 5.9, 7.3 on propane, kerosene and firewood three percent dishes and flatware laundry equipment. 3.5. Negative 10.4 percent on sewing machines.

So if you want to get into sewing now, the showing machines are cheaper car and truck rental 5.2. We saw that to the upside. I mean honestly like a lot of these. You know i hate to say, but a lot of the the things that are up uh aren't really.

Like that's scary, uh, you know the rent rent section was mostly hotel inflation uh. What about airfares? Air? Let's see airfares airfares down? 0.1! You know so it's like really. I mean some of these sectors. Aren't that bad motor vehicle insurance - that's not so good, two and a half percent uh car car and truck rental at five point: two percent! That's that's just that's high yeah, all right! All right! That's uh! It's uh! It's interesting to me! Uh, i'm uh fascinated that uh some of the sections.

Let me go cities here, for example. Let me see if this gives me anything else. I'm gon na take a look at this one yeah. No, this just gives us this just removes the uh seasonal adjustments and i don't know why all of a sudden peanut butter is so expensive, but uh.

The point here is a lot of things that are up are in sectors that i mean i hate to use the word, but are kind of temporary in nature. Now i know that becomes an eye roller, but like look at this, i mean airlines airfares down substantially. Um, you know where let me see on on this sheet. What do we have? That's really up: okay, legal services.

We don't want to watch that legal services - 1.8. That's a little high. But again you look at like car and truck rentals or lodging that's a little bit uh. You know more more something you want to pay attention to rent of shelter.

Point four percent smoking products point: seven percent 3.5 to the downside on computer and software against sewing machines. We saw was down vehicle parts. Okay. This doesn't surprise me that and because they're even raising the price of the tesla vehicle parts and other and equipment other than tires: one percent new vehicles, 1.3 boys and girls, footwear, 3.3.

Oh here's an interesting one! Other linens, eight percent wow linens got expensive yeah. That's interesting food at elementary and secondary schools, down 10.4 percent apples up 3.4. Ah, all right! Well, we'll see uh and so at the same time, what's uh. Also very interesting is uh.

You've got uh, crypto kind of rotating to the downside. Here, you've got uh aetherium rotating down uh at 2, 34 35. uh. Just take a look at the reaction here.

This is the last 13 minutes here got a little bit of that rotation down in ethereum the s p 500. You finally have a little bit of a rotation down. It took a while uh. It took a while to see this because the first two minutes, the market's like ah okay, that's kind of expected now we're finally starting to see that rotation down uh, although barely i mean so what we're down 0.09 percent.

I mean big deal. You know tesla tesla pre-market is up point four, four percent and uh. You know it was as high as eight eleven, so it's at 809, the market's kind of shrugging this off. Let's look at the pre-market here on the left plug power.

Six point: two: eight percent shift technologies up; three percent outlets up one point: five fan phase up one point: two: six uh crispr technology, still down about eight percent on what seemed like decent news on for one of their products. Wayfare is still falling. That's an interesting one: wayfair's still going down uh i sold some puts on wayfair and uh. Let's see here, apple, lucid, pretty nominal reaction, all right! Well, uh! Let's see, let's see what we got, yeah all right, uh, so yeah, and then i mean rent was a little okay here in this read here, rent came in a little bit higher uh than last month.

Rent of primary residence last month's month was point three percent. Now it's point: five percent owner's equivalent rent came in slightly higher yeah. I always like looking at the individual numbers, it's just nice to see that airfares and used cars aren't really driving this anymore. I'm trying to see what then, is really driving it.

There's no like big smoking, gun, uh, food and energy. Certainly those two things. We know that, but if you remove food and energy because those are so volatile, you know it's it's miscellaneous like linens i mean, although then, then you wonder it's like our prices for linens or those window coverings going to come back down living room and kitchen furniture. 3.5 dishes and flatware 2-9 right.

Maybe they don't have to come back down, in which case uh prices stay a little higher, which that's that's, real inflation, motor vehicle insurance, yeah insurance. When does insurance go down? 2.1 tax prep services are down seven percent, though it's cheaper to get your taxes done, or so they say: uh, okay, well, uh, yeah, so uh delta, airlines down 1.5 percent and uh crypto crypto, not loving the cpi read, even though it came in high. It's every time we have a cpi read, uh crypto doesn't do in with you in just a few well, by the way. Folks, we want to remind you about the new cnbc investing club.

You can sign up they're, not even talking about it. They're like bored by it, it's kind of funny uh, oh jeffrey's, downgraded wayfarer. Of course they did uh yeah i mean i have to say i i think the fears were that this was going to be way worse than expected, especially with used car prices going back up again, uh or rents uh going up or they seeming like they're, going Up, you know used cars down point seven percent uh, rent rent of shelter - 0.4. It's not not uh, i mean 0.4 is still like 4.8 percent annual, but that is what we are seeing.

You know. Rents are up about 5-ish percent year over year, um yeah, all right, so uh, let's see all right. So, okay! Well, let's see uh what what other? Maybe let me see what other individuals are saying: gold declines and the dollar jumps wow and uh. Let's see how treasuries are that's true, we can also see uh the 10-year treasury just to get a market reaction here.

Uh really show us how the market's reacting 10-year treasury - let's get a look here. The market is shrugging this off. I mean a little bit of a push here on the 10-year treasury hold on. If i go to the day, oh wait! No! No! No! No! That's why i was zoomed out too much, i'm sorry a decline here.

It is uh, wait where's! The print. Can i zoom in on this there we go wait a sec. This isn't even showing me uh an updated time. Yet let me try over here hold on a sec 10-year treasury.

Hmm, i'm a little surprised market's reacting, pretty blase over this treasury yield. There we go there, we go here, we go well, they changed the way to search for it. Okay, here we go so 10-year. If i go to the day chart for the 13th okay yeah all right, okay, so it shot up for a brief moment to 1.5962.

Here let me share and now it's kind of rotating down again. Let me see if i can get a screenshot of this jump this over here there we go. I don't know why the cnbc one's not showing up but anyway, so here was kind of your reaction. You had your reaction.

The peak here is 1.5962 right now it's 1.58 uh right bef, which which is really in line with levels we've seen previous to the report, uh right before the report. We were at 1.56 over here, so i mean barely a movement on treasuries. Like i said, not not better than expected still haven't seen that inflection really to the downside, uh, so that's getting delayed, but the market's shrugging this off uh j bro cpi data is a big bag of lies. Uh yeah, no rob! I agree with you roughly around ests uh yeah, uh yeah, it's it's um priced in.

You know this this sort of movement's priced in so uh, which which again, if we zoom out a little bit. It goes to this um thought of the last remaining big potential. Negative catalyst kind of evaporating we're still going to have look, we're still going to have the october readings in november. We're still going to have the november readings in december, but all this bad news at the same time in october kind of has not been that bad of news uh.

Here's what i mean by that like the evergrand crisis, not as horrible as feared. It's still going on, but not as horrible as feared. Uh budget we didn't shut down uh debt ceiling, we kicked the can down. The road infrastructure package kicked the can down the road, probably still going to happen towards the end of october, but we'll see our time frame for it for uh.

Excuse me for for a lot of negative news, uh over the last six weeks here for etsy still to be at 213 for tesla to be over 800.. You know it's at 805.. Look at that! It's going back up it's at 8. 10.! I'm sorry! This isn't bad for matterport to basically be at 20 bucks.

These uh end phase 170 charge point 20, bucks, a farm 140 and still green in the pre market. Here this is not horrible at all, like the market is taking the stuff in strong and i'll. Tell you it's: this is the kind of market that you just it's hard to sit out because uh bad news just isn't as bad as we're expecting and uh, and the market wants to be invested that 10-year treasury is going straight down. The market just doesn't care.

You have like the short-term little spikes there by the traders, but um boy, oh boy, in terms of actual um market reaction. Here i mean the s p has as the chance of going green here in a second. Ah s p down point one here: on cnbc uh, dow 0.12 nasdaq's, actually up 0.01 oil uh. Let's see here oil actually down a little bit now 82.7 on brent.

This was 83 yesterday, uh bonds, uh yeah 1.579. It's actually just dropped tiny little bit again. 1.575. This hasn't updated yet it's just seconds ago, uh, that's uh, and now the s p 500 is actually rotating up again.

This is it's just really. It's incredible. How resilient this market is. Treasury just went negative yeah in terms of uh the bond yield following below where it was you're right for yesterday's close.

Oh that's funny yeah, it just fell below uh, yesterday's close market. It's literally it's so weird. It's literally like the market's just saying: hey, um yeah, we're good. We know: there's inflation, we're just going to keep buying we're going to keep buying the dip, all right, garbage and trash collection up 1.1 huh, distilled spirits, including oh, excluding whiskey, 0.9 percent, but whiskey at home.

Only up 0.4 percent - oh yeah yeah all right! Well, i guess we'll uh we'll now explore to see what else is going on in the pre-market here looks like uh. If this is accurate, very good food company up uh about 11 here a very good's actually been running up nicely in the last little bit here. Yeah see, look at that went down to about 1.835 nice little run up here, yeah, but uh following a very, very severe kind of downtrend. Here at this company costs, oh costs went up another little chunk.

Yesterday, we were messing around with this at like 19. uh. Now it's up at 21.. It doesn't surprise me that in the free market uh it's popping a little bit since um.

Yesterday it was halted through the clothes they halted, it, those jerks all right. So, let's see here, sheep sitting at 29, cardano 111, a little bit to the downside here: bitcoin 55 and uh. It's theory i'm sitting at 34, 67 coming back up about 20 points, uh from where it had fallen to but uh yeah. We do get the fed minutes later today, as well.

Let's see what they're saying about it. It's later, it's about about 11 a.m. We'll hear that earlier about supply versus demand, there are restaurants where you can't get it to no, no, you can't get a table and you go in and there's like 10 tables open and it's not that the tables aren't available. It's that they only have enough waiters and staff for like half the restaurant to be full.

All the restaurants are half full, but you can't get a table. It's so strange, uh anyway, thanks mike see you later, you know joe, not just the the restaurants are only being half full, but that's also with the waiters and waitresses who are there taking on more tables than they ever take on too. So it's you know it's! It's not that they are slacking or not doing it. The people who are working there are working incredibly hard anyway.

That does it for us today. We'll see you right back here, yeah uh and i have to say i mean things. Things are a mess uh to me i mean you just you just look out in in society. Uh, it's hard to get a rental car, it's hard to get a u-haul, it's hard to get a flight uh it i mean there's so many things that are incredibly frustrating.

Things are delayed, but i mentioned this yesterday: people are paying with their time. Uh now sure i mean prices have gone up but substantially and in many cases people are paying with their time jpmorgan. Cfo labor inflation is a watch item, yeah sure wage increases. Absolutely i agree um, but golly uh.

It is uh. It is a kind of a frustrating time to spend money, in other words it's it's almost like it's become hard to spend money. Uh. I've mentioned that before, like sometimes you'll you'll have money and you're like.

Oh, i want to. I want to spend money on a contract or to do something, or i want to hire somebody to do something. It's incredibly hard to spend money sometimes, and i think it's actually getting worse, uh all right. So then, we've got here.

Biden pushes to end supply crunch as la port shifts to 24 7 work delta. Air warns of increases in jet fuel costs. Clouding profit rebound apple finally falls victim to never ending supply chain shortage. Yeah, that's right, apple uh cutting their expectations.

I think it was by 10 million apple is likely to slash its projected iphone 13 production targets by as many as 10 million units, so was it hoped that supply chain crisis was easing? It's not. You know this is. This is what i mentioned right at the beginning of this live stream. It's just all.

Indicators are really continuing to be worse than expected. So i'm i'm kind of surprised. This print wasn't worse. I was kind of hoping to buy the dip like i i wouldn't have minded being like just like blatantly wrong uh.

To have to have a nice dip now still didn't get an inflection downside still still wrong. Things are taking longer than expected. I have no idea when we're actually going to get that inflection in the downside, but ironically, the market could still end up in some degree to some degree. Rallying i mean the negative catalysts are gone mostly gone to me.

It's kind of like we just paved the way for uh the market to be uh, to go right back to the dance party, but uh i mean we'll see yeah i'll, see all right. Let's see the ports in california. Only work two eight-hour shifts five days per week. Well, i think they just changed that unless we saw a headline on that, where was it uh la okay, here uh as the congested port of los angeles, it will announce a 24-hour a day, seven day, a week, effort to confront the squeeze a meeting at the White house will convene with corporate executives labor leaders 24-hour 24-7 shift by the port of la follows: a move last month by the port of long beach to move to a similar schedule.

Fedex ups and walmart are pledging to move to 2407 operations. Target samsung home depot are taking steps to address the backlog and distribution. Uh white house said that among those six companies, a total of 3 500 additional containers a week will be moving at night through the end of the year. Large companies are announcing, they will use expanded hours to move more cargo.

Yeah, i mean companies, i guess adjusting people got too much money. Yeah i mean i i disagree uh, you know i mean jake here wants to call me naive, but uh you got to remember. The market. Uh is especially the american market.

In my opinion, the american market is incredibly resilient. It takes a lot uh and and uh. You know this market continues to take somewhat bad news in in some form of stride. Uh evergrand crisis brushed it off.

You know the congress issues are gone, the cpi data and the taper not really weighing on the market as much as they could like people just got lots of money. You know, i think, that's that's the way uh to look at it. Look at how automated the part of rather than is in europe america's like oh, i mean, i believe that in some degrees, uh, the uh america is behind in some of the technologies that exist. Some of the things you see in europe, pretty cool uh kathy, is an extension of the suits to the common folks.

Oh no market is disconnected and react from reality because of qe. Well yeah. I agree with that. Uh! That's you know i.

I don't disagree with that. I think people just have more money than than they know what to do with. So it's like this, never ending by the dip money. I definitely agree that uh money printing has uh propped up this market.

Tesla is a printing machine uh. It's how the rich keep getting richer, because the disconnect is printed by main street um. In other words, the pain is felt by main street yeah yeah. I believe it absolutely.

I mean, like you, know, people with millions of dollars in the stock market, don't really care. If whiskey's at point six percent or point four percent, or whatever it was alcohol beverages away from home, a point four percent wine at home, though folks wine at home down point four percent college: textbooks down point three. So if you want wine and some college textbooks, it's cheaper right now, along with those sewing machines - i don't know why, but the sewing machines are cheaper. Now: oh cars, cars and linens, so it was so weird.

You know. Oh well, all right. Let's go see some uh some. What other? What other headlines we might be seeing here yeah.

This is true: the printing machine drives up asset prices, apps, so freaking literally true uh. You know it's uh. One of the reasons i love uh. I love me some real estate, uh u.s, fed funds, futures implied traders, see a 90 chance of fed raising rates by september 2022..

Yeah i mean we knew that if anything, that's a little late, love hearing your thoughts on the margin numbers. The margin numbers came in any worry about a volatility squeeze uh volatility skyrocketing up hold on a sec. Let's see, let's first do margin, finra margin, so finra margin, finra statistics august. Oh in august we actually went out.

That's right. It was july's numbers that came lower, but august went straight back up see. I don't like that. I don't like seeing margin.

Go up that much, especially in august really with the delta fears. Ah, that's a surprise. Yeah! That's a lot of extra here see i i don't love this uh. You know i have no margin and i don't want margin, keep me away from margin, because i i don't want margin to call.

I don't need any more phone calls uh, but yeah volatility squeeze i mean maybe look at just some of these um, but why? You know i mean volatility here. Let me go to the weak chart, see this right here this this on the week chart this peak right here was was really your peak fear of the recession we're still higher than where we were before. You know before uh. In 2019, we were sitting around 12.

You know we had these little bouts of fear when interest rates were going up over here, uh, where volatility moved to 30, 25 and 30. - and this was this - was the real estate pain right here. This was the stock market's pain right here, but otherwise i i don't see a sort of a justification for thinking that volatility will squeeze up. I don't see that i think volatility is kind of trending down, with the exception of certain stocks.

You know some stocks can move nicely, which could be good for options. Uh tesla is like at an all-time low in terms of volatility uh, i kind of hope. The volatility skyrockets on tesla and tesla just runs up to a thousand uh. Then i can finally exit some of my options.

That's just me being totally selfish and wanting that completely for myself, but yeah volatility is dead, low on tesla right now, crazy, all right, let's see what uh some other headlines are doing, because otherwise the market is reacting. Boring wall street journal inflation remained high amid supply chain woes us inflation accelerated slightly in september faster than august, but marketedly down from june's point. Nine percent annualized base or just annual basis. Five 5.4 from a year earlier, yeah annualized we'd be at 4.8 worth noting that if you do annualize the number that we got 0.4 we'd have 4.8 percent uh as an annual number.

Even though the annual number right now is 5.4. Looking back to last year, higher inflation is likely to trigger the largest increase in decades for social security benefits and seniors. Oh nice, social security will release its annual cost of living adjustment later on wednesday. Oh well, that's good that they'll actually get properly compensated.

Well, hopefully, properly compensated rising energy prices. Unusually high demand is a crucial factor. Driving inflation spending jumped at an 11.9 percent pace in the second quarter, as more people receive coven vaccination, wow consumer spending flying again shortage of workers. Everybody's got money.

Everybody's got the dollars in september, some 46 percent of small businesses said they plan to raise prices in the next three months. I believe that too uh semiconductor shortage curbing production, yeah all right kind of familiar with this now is there any other news going on uh? Let's see, did you hear about the pentagon official that resigned, declaring u.s has lost against china with ants. I i did not hear about that very interesting, yeah uh yeah. I don't.

I don't know that you could use. I mean i know what you're saying with uh. Oh 33, higher you got to be careful with percentages on on small numbers. You know when you're, when we're talking about decimals.

You know, like the difference between point three percent and point four percent uh. I i like to be careful with percentages. It's uh. You know if you look at like if you look at the annualized number right: 5.4, uh versus or 5.3 you're talking about 1.8 of a difference here, uh, you know comparing decimals, i think's a little tough, especially since they round to uh to the tenth of a Percent, so social security benefits to increase 5.9 for 2022.

Oh, this just came out two minutes ago: cost of living increase expected to be near six percent for 2022. wow seniors and other americans receiving social security benefits in 2022 are likely to see a likely next year's cost of living. Adjustment for benefits is likely to be point. Nine percent based on labor department, uh data released wednesday.

Nearly six percent nice big old move, uh jpmorgan profit jumps. Oh that's right. We had um earnings. Uh came out this morning for a few companies.

Let me see if i could still look at them. I mean i could just read the digest there, but i'll look really quick on term so jpmorgan. Let's see here: okay, ppm, apm, equity, individual company news, all right. Let's see what we got so: okay, jp morgan.

All right there we go: uh eps came in at 3 and 74 cents assets under management up 17 yeah. I believe that 3 trillion dollars under management. Oh, my gosh investment banking revenue, whoa big, beat by jp morgan on investment, banking revenue, 3.03 billion dollars in investment banking revenue versus 2.65. I mean this is like the banks are crushing it equity sales and trading 2.6 billion versus 2.17 expected big, beat again released.

Credit reserves of 2.1 that means less less expenses than expected for credit losses wow. This is actually a pretty nice beat here by jpm charge. Offs were half of what was expected see, and this is the other thing is like. Even though we have this sort of inflation companies are just killing it uh they're doing really well.

Uh tapering shouldn't be a concern for the housing market. We think trading could normalize. Above 2019 levels, wow, so more trading than what we had in 19 loans may be set for more robust growth across the board deposits to stabilize this is from their earnings call happening right now. Labor inflation is a watch item.

We saw that headline international retail banking. 10 year game plan, jamie dimon comments: oh listen! This jp morgan, direct exposure to evergrand is quote de minimis, so tiny like not even worth considering investment giant, blackrock ceo says it's researching blockchain and crypto jp morgan to spend whatever it takes to compete. Jp morgan profit jumps on lower reserves for bad loans, yeah and those trading revenues were insane. This is really good.

This is a really good report by jp morgan uh. If, if this is how early earnings season's going to go, it's going to be great jp morgan's, still technically down 0.16, but this is not a bad report at all. Why is everyone cheering? Let's go branded yeah anyway, jpm great job, clean energy stocks are having a field day, pre-market plug f cell and phase having fun great yeah. With all this oil running, when was the cpi data collected uh? Is it within the realm of possibility that we end up seeing the current rise in inflation happening now yeah? It is it's usually the third week uh, but let me see if i can find it.

That's a good question september, let's see here september september september september. Okay, i don't know if they're gon na tell us, i mean they should uh data okay. Additionally, data collection was in september was affected by the temporary closure closing of some facilities. Well, that doesn't help us nope.

They didn't tell us, they did not tell us anyway. Okay, all right anyway, so um, oh there's a viral meme about. Let's go brandon because of a mishap by a nascar reporter which he was interviewing. Brandon.

The crowd behind them was chanting. F biden, interesting: okay, uh the media tried to cover a live broadcast by saying the crowd was saying: let's go brandon when it was really f, joe biden inch. Oh i get you oh wow. Is it let's see, i want to watch that.

I don't know why. I didn't hear about this: let's, let's go right so now people are saying that in in essence, as as a moniker for uh, slamming biden, okay, well, here's hannity's version of it. Bozo cut, please green. Where is it let's see if i can find it america out here nationwide, take a look yeah.

I mean that that's pretty obvious, that's pretty obviously joe biden, and that is not the only anti-biden chant that is now trending across the country. Let's go brandon, that's also a new favorite among americans because of this special moment on nbc, you have a nascar driver, winning a big race, brandon brown after his big victory at talladega. Well, the reporter actually thinks they're saying cheering brandon. When you listen closely.

No they're not take a look just such an unbelievable moment. Brandon. You also told me you can hear the chants from the crowd. Let's go brandon, that's funny and you can hear the chance from the crowd.

Let's go. Oh that's good! It's it's not even close! It's so obvious yeah! Well i mean that's what happens when you're president? That's good! Well! Thank you for enlightening me, but when marlon brando gets off then they throw the tokens you know and then everybody goes to work. Okay, it's like that. Remember that was.

That was actually the mob controlled. Yes, our porch here right, yes, and where are you going with this just bernstein great score? Yes, no! I am saying that there was a control delivery, saint. I think i don't want to listen to jim right now, so uh. What i do want to yeah i do want to look at crispr a little bit uh.

Let me see okay, so crisper. This is what i'm trying to figure out what happened with crisper. Still, i'm not a really good biotech kind of person. Okay, here so crispr's, off-the-shelf cd19 car t is clearly active against active against previously treated aggressive lymphoma, but the six-month complete response rate, a key efficacy metric lags behind that of allogenes aloe 501.

Both data sets are evolving and neither likely shows the true impact of repeat dosing but crispr's 21 cr rate at six months; trails, allergen, gene gen, whatever at 33, based on intention to treat analyses plan; okay. So so, basically the data came in good for crispr. But worse than a rival doesn't appear to be a threat to out. It must be allergens, because it's g-e-n-e um but did come with an intriguing detail on chromosomal alterations.

Crispr said up to one percent of its cells have a translocation at editing sites. This is higher than we expected, but relevance to allergens. Current safety review is unclear, huh, okay, so it's really just a comparison to um arrival. What's prague i'll, look at prague, kathy wood, trims, coinbase steak for second day in a row is bitcoin.

That's interesting. Okay, pro progenity, let's see what this is so progenity progenity gets four patents covering ingestible therapeutics technology share, rise and pre-bail four patents on ingestible technologies, several patents issued by the uspto patent and trademark office. I do do we care about the patents i mean. Maybe we should patents are harder to get than like trademarks, trademarks, don't mean anything and virginity just raised 20 million dollars in the share, offering it's not that much uh ingestible therapeutics.

The first patent covers methods and devices for delivery of a therapeutic agent into the gastrointestinal issue for system a systemic uptake. The second patent covers methods of treating ulcerative colitis using an ingestible device and third and fourth are part of the company's gastrointestinal, targeted, therapeutics portfolio. Lots of gastro products all right security description, healthcare testing, all right, so they got some patents. All right, yeah biotech biotech certain scary.

It is true uh they can move so violently, yeah anyway, yeah, so christopher's getting whacked uh, oh delta, had its. Oh, that's right. Delta mentioned uh rising costs of kerosene. Oh i'll tell you.

I was complaining about this yesterday on on the podcast airline flying socks right now, it's absolutely terrible. It's not good! Let's see what they said, though, before we get to uh the open here: okay, so delta. Okay, uh all right: let's see, profitability faces pressure from fuel prices, q3 net came in at 194. The estimate was 112.

That's a good beat on adjusted net, we're at 80 percent capacity. Right now, eps came in at 30 cents versus 17 expected. That's pretty good passenger load factor was expected to be 75 percent, we're at 80 percent gosh. I remember during the pandemic.

It was like 45 and 50 percent. It was crazy, but q3 traffic still down 36 percent uh traffic down 36 capacity down 29 percent uh. Let's see here, recent rise in fuel prices will remain. Uh will pressure our ability to remain profitable, increased vaccination rates to 90 percent wow.

That's that's pretty good uh. I mean it's high delta comments on false pilot. Coveted claims. Okay must be some drama going on there.

Okay delta ceo sees its business fully restored in 2022. All right delta, ceo says mandates are not the only way to get people vaccinated all right. Okay. What else reported this morning did blackrock report this morning as well earnings calendar about six minutes to go before the opening bell worth mentioning that uh we've got a link down below for you to get up to seventy dollars in totally free stock with public.

By going to medcamp.com public - and you follow me there at me - kevin anytime, i do buy or sell stocks on public. You will get a notification for that. That's free, that's different, of course, from the stocks on psychology of money group. Where you get all my notifications, we get to live stream chat together, chat and discord together, and we've got new lectures coming out.

Big big set of lectures coming out on options. Special moves on options, uh some more on fundamental analysis. All this coming out. In 11 days on the 24th, that's uh sunday, the 24th and pricing will be going up for the programs again on the 29th yeah jpmor yeah blackrock did report.

We may as well look at blackrock quickly as well. Let's see what blackrock's saying blackrock uh right. Oh thanks for shouting out the motley fool stockpix yeah. If you wanted to see those, you can go to fool metkevin.comfool, you drop in your email to them and they'll give you sort of my my five stock picks with their commentary on it and there's one particular stock that i really like that they're like well, we Actually prefer different sets of stock uh, and you know i i'm all for people sharing whatever opinion they want.

Obviously i disagree uh. They sent me their thing first they're like oh. We just want to prove that you're, okay with saying this and i'm like i'm not going to edit anything. You say whatever the hell you want uh.

So i i just i don't care but anyway, if you want to see like their raw response to those five stock, picks kevin.com fool, uh, um yeah, i'm not gon na i'm not gon na about somebody having a different opinion than me. I don't care uh. Okay, so blackrock, let me see if i can get that before the bell three and a half minutes. So does this not bother anyone that the russian collusion was? I mean probably not going to have that conversation now, all right, so blackrock, blackrock, adjusted eps comes in at 1095 versus 9.39.

Revenue comes in at 5.05 billion versus 4.84, so it's a beat on the top. A beat on the bottom equity inflows ooh way. Lower. Oh equity, inflows of 33 billion versus 39 expected.

Oh, that's, a that's! A miss on on money invested with blackrock. What's it doing in free market, it's still up in the pre-market, though uh china will move to have tougher disclosure rules. There are extremely large flows into china from europe. Huh blackrock, prepared to speak out on china.

Governance need more transparency, need more disclosure, um esg focus needed for private companies. Greater esg focus esg pressure on public companies. Uh. It's going to be an issue: okay, operating margin, 45, well yeah, but they're.

An investment firm, so margin should be relatively high revenue up 16. I mean they did well on revenue and net, but uh inflows is definitely lower than expected, which they're an investment company. So i i thought that inflows would be a much more important metric. Apparently not things doing well, it's almost up three percent blackrock needs some arc.

I wonder how kathy's fun's been we're about to open. So let me look at kathy's rk, fun flows. I always like seeing what fun flows are for that, because to me it's a little bit of a barometer as to what people are doing in terms of risk yeah i mean we had an inflow day here on uh october 4th. Let me see if i can pop this up october.

4Th was a big inflow day. I wonder what spy was doing that day. Okay, so october, 4th go to the normal candlesticks, no october. 4Th was actually a red day and kathy had some nice inflows that day, nice uh, oh, not that button here, the arc flows.

Everything in this box right here is negative, so you can see some substantial pulls to the downside, still losing money in the caf uh. The cafe funds that is more more net outflows than inflows, but uh. I'm surprised you had a few days of good inflows here with with that peak right there being uh october 4th, which uh was an s p down one point: two: nine percent day. That was that's by the dip pressure right there by the dip and kathy's fund the next day, some more funding as well about a hundred million in inflows.

The next day s p was up all right, let's get the belt. Let's get the opening bell here and the cnbc real-time exchange at the big board. It's the ashford group of companies celebrating the recovery of the hospitality travel industries. It should be interesting.

It's a market open on uh drama day, pretty green. I want balloons like that. Do you all see the nasdaq there, man, man, i i i want to be able to ring the bell and have balloons fall all over me. That sounds fun all right.

Let's see how things are moving uh cos: 15.69 percent uh. What hold on are these numbers? Updated is this right, solar end no hold on. Why do i feel like these numbers are frozen? They should be a little bit more frantic shouldn't. They be sun power hold on a second hold on no, oh, there we go there, we go okay.

Now it's updated. Yeah, i feel like weeble lagged there for a second anyway plug power uh to 32 dollars. Now, look at that almost up eight point: four percent camber energy going 10 again uh blackberry, 3.2 end phase again 2.57. Let's go owlette 2.26 owlette deserves to be higher uh solar edge.

Three percent - oh metchkevin.com, solar, is looking good right. Now, trade desk uh up nice, 1.74 etsy's up again dang it. I really want to buy the dip on etsy too. Okay.

This is tesla tesla's kind of red candle sticking. A little bit. Amc is trying to green candlestick. It's still net negative right now, disney negative, slightly robin hood's, trying to turn red the spy is rotating up uh lemonade, trying to rotate up shift tech pretty much flat.

Google rotating up palantir pound tears, moving yeah volunteers, doing nice, matterport kind of fluctuating here. What about a firm green firm doesn't stop. This is pretty good. Plug plugs got ta, be up on news, though that's got ta be news, plug power, uh yeah.

We will crash for a second yeah. Okay, thank you for saying that rob yeah, because that the numbers just looked like yesterday's numbers, plug power teams up with airbus on studying hydrogen-powered aircraft. So that's it seriously! That's what's leading it to be up like 10 get out of here plug power. Well, here let me do this.

Is that really what they filed plug power? I don't even see a current 8k. It doesn't even say it here, yet it's just plug power. Phillips 66 plug power sign agreement to advanced hydrogen plug power, and airbus will select us airport to serve as first hydrogen hub i mean that's: smart, that's cool, okay, plug power partners with air button. Yeah! Okay, oh they're, pretty excited about that all right.

Philip 66 sign agreement to advance carbon is okay, new bet on hydrogen plant planes with airflow deal. I mean, i guess, that's kind of interesting, because they're they're a forklift company right there they're not profitable forklift company, delivering forklifts to factories and uh hydrogen fuel tanks. As a service, they then partnered with renault, a french company uh. I made a video on that by the way, if you want to see like a full video and plug uh, i made a video back in january and i'm like yeah.

The thing is a little overvalued at 75, it's probably going to collapse like quantum scape did, and it did end up collapsing like substantially but um, seeing it back in the 30s. I mean good for them. I mean i, don't i don't think they deserve to be in the toilet. I do think it's too early to bet on hydrogen.

I think you could trade this news, but i wouldn't huddle this news. It's just in my opinion, um. You know risky to huddle hydrogen news because it's so uh so far out. We don't actually expect hydrogen to really do anything until 2030.

same thing with really battery recycling. Although battery cycling will probably pick up a little earlier, 2030 battery recycling is expected to be like 16 of um battery demand. Actually, i'm sorry recycling by 2035, i wrote down, might meet sixteen point. Two five percent of lithium demand, so you just didn't mining's still gon na be pretty important.

That's that's still gon na be your big thing. 10-Year uh, er, okay, 10-year treasuries fall to session low of 1.54 wow. Jamie diamond inflation is unlikely to drop in the next couple quarters. Well, there goes the transitory uh and crypto still rotating down.

So it's honestly weird that crypto is rotating down on uh on these inflation beats. Oh well, it is ocugen giving up some of its gains from yesterday open door down three percent. Although they've been doing pretty well gosh smile direct down nicely here. Look at that 2.64 wayfair golly down another 3.5 wayfair's, just getting hurt! Uh oh charge points down about a percent robin hood down point six: four win resorts down a little bit: coinbase down a little bit airbnb down a quarter walgreens down a bit.

It's interesting charge points down, especially when a lot of the other energy ones are. Although we get mixed a today plug power, draft kings, finally moving again quantum scape palantir toast, there's square and paypal, hmm a firm at about one percent at sea about one percent, where's tesla tesla's, rarely green! It's about to go negative! All right! Let's listen in over! Here for a moment, it's doing so much better than people realize, but there's a let's not forget the small-mindedness of the apple analyst. Who will seize on this and say that it's a sign that things really aren't that good. Now i have tony saganeggi on at 11.

12. 1. 2. 3.

After i give him the dental insurance he's kidding and totally yes, now tony can run with this and say negative things always conclusion would just say, but you know what don't worry you know all right, they're always having these conversations that don't make much sense all right. Let's go financial times jpmorgan's profits, boosted by reserve release of course, uh forex derivatives trading scandal. Okay, covet success. Success of mrna vaccines, open up, open way to new generation of drugs.

Okay, kellogg's serial strike latest pushback from u.s snack makers. Russia sends warning to cyber security sector. Okay, black rocks profits beat estimates right. The inflows were low here.

Europe's trucker shortage becomes extremely dangerous, blamed soaring demand, low wages and poor working conditions, philip morris-backed group to launch plant-based covid vaccine plant-based covalent vaccine. How do you do that? All right, yeah consumer price growth remained at a 13 year. High yep will gen z save malls in stores from their online yeah. I don't know about that.

All right. Let's go to coinmarketcap tobacco cures. Cove. I don't know all right.

What do we got over here? Yeah ethereum 3457, slightly down trying to recover a little bit. Cardano 212. yeah a lot of these slightly down here, cheap sitting at 28, stable, oh neo, doing well, let's see someone's shouting on me. Oh there we go look at tesla whoa.

What happened? It's just all of a sudden. You turned here just in the last two minutes and the spy's still running tesla ran up a little bit. Uh is neo doing that as well. Dutch bros up yeah neo, is doing very nice.

Owlette 1.76, dutch bros up again, four and a half micro upwork three and a half percent on upward grade company trade desk to a posh is actually coming up a firm up again, two percent end phase two percent that affirms that almost 144 that's crazy and so And end phase is kicking butt. Remember anytime, you want my bicel alerts like when i bought the crap out of a firmer end phase. Every single time check out that stocks of psychology money group linked down below. Is that diamond hand coupon code peloton, peloton's, actually trying to come back at 88.? This thing went down to like 81 there for a moment, but then again a lot of things were depressed.

A couple weeks ago, lemonade's still at pricing from a couple weeks ago, worth noting if you're looking for something that's still kind of lagging lemonade, would be one yeah, tesla's up half percent, now lucid kind of bleeding, probably waiting for those cars to actually show up all Right what else we got micro inverters of the future heck yeah, uh yeah. It makes sense to me to involve the national guard to help with some of the supply chain issues, but national guard is very expensive too uh. Let's see here migrant families from brazil passed through a gap in the border wall after crossing from mexico in june middle class migrants fly to mexico and then cross border illegally. I mean that doesn't surprise me.

People are looking for a better life in america, apple studying potential of airpods as health device wow all right, let's see if we can get those 10-year treasury yields again. Yeah. Look at this all the indices are green. You've got the 10-year down.

You've got oil down. I mean like this is the best case scenario for the market knrlf the covet detector. I still think that's pretty cool k, n r, l, f control technologies with a k. Ah, let's see it's a canadian company canadian company and they have a tiny market cap they're.

Not profitable expect to be profitable next year. Penny stock, tiny, tiny market cap and their revenue is relatively small. I don't even have forecasts that go past 2022, but they're still expecting 35 million dollars of revenue this year and uh low margin, really low margin, but uh yeah. This is a tiny company.

It's interesting, though, can't even get the charts to load on the darn thing. Well, it's didn't done nice since the summer i don't know, i don't know why it had a summer dip anyway, a little summer dip there cup and handling cup and handle on the google chart. Okay, once again, k, n r, l, f control technologies, tiny teeny company. What is the market cap of the darn thing? 105 million canadian dollars whoa seeking alpha revenue, seen at least 18 mil uh global recent acquisition of global eight track and automation uh.

This is an interesting company to look into small company micro, but who knows sometimes those can make you money anyway, l-sid rotating down lemonade up a couple percent: okay, not much else moving here. So uh, let's see here what else stocks mostly move higher? Let's see cnbc here for a moment in some of the other sectors as well: banks uh in general uh take a look at the uh at the sectors. For this morning, we had a little bit of a wobbly pre-open, because everyone had a hard time trying to figure out how to interpret the cpi. Is it really inflationary? Is it not it's kind of in line, but yields moved up and then back down a little tough to figure that out this morning? But you can see here, materials up tech, doing well.

Banks down that is very typical.