Hey everyone me kevin here. We start this monday morning with some good news, but first i want to mention a couple things to you. One did you have a good passover, easter and ramadan, because this is the first time since 1991 that all three have happened together? Also, did you know that now there are about 1500 ghost kitchens, which are those kinds of companies like mr bista berger, that use other companies potentially like red robin to make their food for them and then sell them under their own branding without actually having a real Location kind of cool, but anyway i want to hit the big news. Bank of america.

Bank of america's earnings were not as bad as expected at all and their ceo told us some pretty incredible things about the consumer. Now i'm always looking for issues, and this is very, very important. If you're in the market and invested, you should pay special attention to problems if you're uh, you know not in the market, because you're bearish, you should pay special attention to signs that maybe you're wrong to be bearish right, and so we always want to pay more Attention to where we are not, otherwise, we could potentially just turn into this sort of echo chamber of like nope nope. It's only my way, and so i was really excited for bank of america earnings this morning and bank of america's earnings this morning came out with the following information number one uh delinquencies consumer late and early stage.

Delinquencies are below 2019 levels. This is really good anytime. We start seeing rising levels of delinquencies, that's when we start having issues and we those can be leading indicators to a recession when individuals start defaulting and then of course they can't spend because now they don't have access to credit anymore because they're losing it. Then we have expectations from bank of america that a strong credit quality is expected to continue and regarding the consumer quote, there is a lot of dry powder.

Consumers are in really good shape. Consumers have room to maneuver their finances. Digital sales are now twice that, prior to the pandemic, consumers are resilient due to high liquidity and low unemployment. Mortgage growth is being tempered by rates a little.

However, for the economy, we expect robust growth going forward and in q1 we opened one million credit cards and actually saw consumer spending increase. Now this is just nutty. Okay, because remember back in january, i was like oh my gosh. If consumers go fear mode in q1, we're going to have a recession by q4, it's going to be a disaster because consumers just aren't going to spend anymore.

So far, at least the opposite is happening, and it's not so much that people spent so much money. In january, that oh okay, well, maybe they spent less after war started no they're they're, actually spending more the trajectory right now is up. Now we don't know how sustainable it is, but this is the same thing that jp morgan told us yesterday, it's the same as last week. Rather it's the same thing that disney told us last week, uh it's the same.

Sorry delta, not disney. It's the same thing that we've heard regularly that the consumers are spending more, not less on goods and services, which is really interesting. Uh schwab also saw the same amount of inflows that they were expecting. They were expecting 11 of client assets to come in or an increase of 11 incline assets and they got exactly that uh and now we've even starting, at least on the bloom, or i call it the doomberg terminal to see some potential positive catalyst.

At least getting talked about which so far everything's been super negative and the positive catalysts that we're hearing talk about are things like inflation could fall faster than expected, no, not sure about that. Yet, but we'll see uh. We still hope for geopolitical improvements by victory day, which is may 9th yeah. That's russia's victory day right.

I made a video on that. We've got uh corporate earnings, obviously so far starting out really well, and hopefully we get some relaxation out of china. Now we've got quite a few catalysts this week and we've got some longer term ones. Coming up this week we've got netflix johnson and johnson reporting, uh tesla.

Obviously, reports on 420 that's the day that coupon code expires for the program. So i'm building your wealth constantly. Adding uh content to those and remember it's all about building wealth, long-term wealth, you've got uh the federal reserve, speaking at least i'm sorry. Four times this week, wow you've got bullard speaking today, evans and he's kind of a little hawkish, so be careful on that one.

Evan speaking tuesday, marie daley uh speaking on wednesday jerome powell that'll be a big one. Speaking on thursday and the beige book coming out on wednesday sort of economic data right and you've got these other catalysts going forward that we want to pay attention to. If you do not have these marked on your calendar, yet i would make sure of that. Remember: we've got the may 4th fomc meeting, may 6th jobs may 9th russia's victory day may 11th cpi and then of course, earnings for the next two week.

Next, two weeks here are going to be pretty darn critical. Now, if we take a look at some of the charts that we have take a quick look here at the inverted or uninverted yield curve here, we've got a spread of about almost 36 points. There inflation break evens still nowhere near that peak that we saw right after the invasion over here into ukraine, which is really really good. We want to see that we don't want to see that line going up.

We want to see that line stabilize and slowly start going down, because those are markets, inflation expectations right so really really critical. I also always love looking at btc and there's a reason i always have ftx up, which you should have ftx up as well got incredible trading indicators via trading view. You could use that link down below to join ftx use that coupon code or their code meet kev when you check out to make sure that you get free crypto when you trade uh. But i i like to use this as sort of my futures indicator.

Rather than than actual futures - and so yesterday uh, when, when futures open, we saw a little bit of pain but uh, but we've so we've actually been clawing back here this morning, which is very, very exciting uh over here on the qqq on the uh one minute. We're bobbing right around that 23.6 line. We were looking like. We were gon na open negative by about a half percent to maybe even as much as one percent early yesterday right now we're sitting about flat.

We want to see how much we can get in terms of respect for uh the 23.6 line here right now. Obviously, as i'm filming, this is dropping a little bit below that we'll see what happens. One minute chart not as terribly important but we'll see if we, if we can get a nice bounce and not a full candle close on the 30 minute, that'll be good. If we can get a nice little bounce off of this here again that'll be nice, and hopefully we can get back to some green anyway.

Some good news for the opening thanks so much for watching check out ftx and programs on building your world link down below and we'll see the next one.