Hey everyone me kevin here: uh computer has crashed, so we're gon na have to uh go mobile here for a bit until the darn thing actually comes up, but that's okay, because we have to go live now, uh. We cannot wait any longer because the cpa data release is basically now uh, which is fine fine. We got this uh, so uh we'll go ahead and do this together until i can get the stupid thing up, i don't know why it takes so long, but i'll. Let me just tell you this: the mac pro.

Oh my gosh. It is not that great. It is not that pro uh, but uh yeah probably lost like happy at the word mac there, but anyway, all right. Let's see what it is.

Uh cpi is uh. Oh uh is uh. Next data release; okay, yeah, all right here we go next data release is now so, let's see i'm refreshing uh. Looking at that, month-over-month inflation, the expectations were point six percent, uh headline inflation.

Five point: eight percent uh waiting for that right now, any second now um higher than expected, uh can't get the darn. No bls still doesn't show it, but uh it does look like uh. Even though bureau of labor statistic doesn't show, it doesn't look like cnbc got it a consumer price index month over month, coming in at 0.9 versus 0.6, that's a that's a big bounce on inflation, that's not good uh and i still don't have a computer. This is shocking.

This stupid thing that's two times higher than expected: uh three tenths yeah. That's not good! That's not good! Uh, okay, cpa! Here we go, it just came in on bls, so consumer price index for all uh, our urban custom consumers increased 0.9 percent in october. That's way worse than expected. Oh my gosh, i'm like blown away that i still do not have a computer.

I have literally been waiting for this stupid dumb thing to come up. This is way worse than expected, uh to come in at 0.9 percent. We were expecting it to come in higher than last month, but uh. It's definitely not coming in lower.

So no good uh gosh! This is so dumb. I'm gon na throw that computer out of the window. Uh the let's see here the index for all items. Less food and energy rose point six percent uh on a month over month basis over the last 12 months.

Uh all items in the index rose 6.2 percent. That's like the worst uh cpi reading. I think we've had in in forever a very long time, but six point two percent: that's a pretty big headline number. This is going to be uh front, page news for quite a while - and this is gon na - be really bad for joe biden's plans uh to get uh more spending and taxing done.

This is a pretty big uh, pretty pretty bad report. For for that purpose, let's see here, uh food away from home rose point eight percent; okay, let's go to i'm gon na, go to the individual sections here, but yeah. This is not good. I would expect crypto to probably do very well at the moment, uh and it'll be interesting to see how stocks react, which we'll look in just a moment.

Okay, i'm going to go into individual items here; expenses by category one month: category; okay, i'm looking here so 3.3 percent increase in breakfast cereal jeez through three point: uh, let's see here what was right: two point: nine percent for bacon and sausages; uh five percent for Pork chop, uh yeah six point: two percent: you heard that right, uh, uh, okay, yeah, just just i'm, live right. I just wan na make sure, because i see some what is this garbage now? It's look at this look at this folks. This is a thousand dollar computer. What is this come on man? What is that? It's, the dumbest thing ever gosh apple, sometimes y'all, just suck it's sometimes so - motivates me to just want to burn all the apple stuff.

I have oh frankfurter. What is this? Frankfurters are down 8.3 percent; that's great uh, but let's see where's the inflation coming from processed fruits and vegetables. A lot of the food here up three percent three percent: this is um uh. Let's see here this uh, those are okay.

Come on. Let's try to get a little more data here. Okay, let's see this is the one month table by the way. Orange is down six point: eight percent: okay, fine, let's get out of food all right: energy, electricity, 2.2, uh, other motor fuels 10.4.

Gasoline 9.1 uh jeez is that is that right on the month of a month hold on a second. Let me make sure this is the one month analysis average for all items: yeah wow, 12 months, yeah. No, this this is the one month analysis table. This is crazy.

Some of these numbers are quite quite ugly: uh new and used motor vehicles up 5.6 private transportation up three point: seven percent transportation in general up three point: six percent uh: let's see what is this tre yeah, that's transportation! Then you have two point: seven percent on fuels and utilities. I literally still have no computer, so dumb, uh, 4.1, okay durable. So that would be like washing machines and things like that. Right, three and a half percent trying to get a little bit more personal services.

1.2: 10.1 admission to sporting events, wow postage and delivery 5. My goodness uh airline fares actually down point one percent, car and truck rental up five point: two percent again motor vehicle repair, two percent six point; eight percent and other lodging away from home, including hotels and motels, lodging away from me at six percent and then uh That does include the housing at school. It does get weighed down by housing at school. If you exclude that it goes up more rent of shelter on the month of a month that section's blank um stupid thing.

Oh my gosh, all right tobacco and smoking products up. Three point: nine percent um, looking for larger numbers here, audio equipment, four point: two percent yeah used cars and trucks up the largest section here. This is uh. I mean ten point percent in new and used trucks.

That's uh that that's pretty big! That's definitely something! That's pulled up the entire average here by a lot uh, that's huge! Oh my gosh, dumb thing! All right! I am so sorry. This is very, very frustrating, uh apple apple. If you're watching you all suck like seriously. This is very embarrassing, um.

So dumb. I can't even restart a computer. I like how many times has it done it now and it doesn't even turn off it's okay anyway, i'm over it, i'm over it, so wow uh these are yeah. I mean it.

It looks to me like used car prices again. Uh coming with just a nasty beat here in october 2021.: that's shocking, uh, okay, uh! Let me let me see: oh yeah, dao future just fell on that one. Let me listen to it fed chair who is more progressive, oh they're, just talking about fed now. Okay, that's uh the potential for somebody other than jerome powell.

All right! Let me uh all right now, i'm going to go through the headline report, one more time here, so i just want to understand this correctly. So consumer price index increased 0.9 in october after uh on a seasonally adjusted basis after right, raising uh going up 4.4 in september, that's right so that hasn't changed and no changes to that so 0.4 in september 0.9, in october, on a monthly basis. That's just terrible over the last 12 months, all items in the index increased 6.2 percent, wow uh, okay, used cars and trucks. New vehicles are among the larger contributors vehicles.

Again the energy index rose 4.8 yeah. No, that's what it was. It was uh. It was very much used cars, uh and trucks, but then again we hit a couple negative months.

That's really interesting in uh in oh well, hmm, it's seasonally! Okay, all right! I think i'm actually up here to where i can get on the computer, but i'm going to give it another second here and the energy index rose 30 percent. Listen to this. The energy index rose 30 over the past 12 months. It's the largest 12 month increase since the period ending september 2005.

All major energy component indices increased sharply over the last 12 months. The gasoline index rose 49.6 over the last year and is now at its highest level. Since september of 2014. a fuel index uh wrote the fuel oil index increased sharply over the year.

Raising 59.1 percent the index for natural gas rose 28.1 percent and the index uh. The electricity index was 6.5 wow motor or, let's see here. Major vehicle indices also rose in october indices for new and used car uh trucks. Uh rose; okay; oh that's how you probably get to the change month over month, interesting yeah, because here it says the index for use cars and trucks rose 2.5 after declining in august september.

We did see two uh decline in august and september. So probably the change uh is is why one sheet was saying another 10 bump there, which which drags the entire thing up but uh. I wonder why a little bit more detail on uh. Let me go back to the tables here and i want to oh sorry.

I almost have this darn thing up there. We go we're going to be able to go to a computer here. Finally, look at that. It took 10 minutes 10 minutes to restart a 15 000 computer folks.

Welcome to apple, that's pathetic, all right hold on one sec. Let me do this all right. That is ridiculous wow. That was insane.

I am embarrassed, uh it. That is just it just craps out right before so it was literally like i mean it's. 5. 25.

I'm like okay, it's time to go, live and i'm like nothing's loading like it just stops what a burn all right, cpi, uh, all right! Okay, all right! We're up again! So let's go look at the numbers together here, all right, so yeah! This is bad uh, not good at all, and i want to go through this a little bit more again: consumer price index, all items. This is just based on the index weighting and by expense category again by the index weighting. And if you go over here, you look at uh the average by category and the one month table. I really i prefer the one month table because then it gives us a difference, because it shows a seasonally adjusted change in september to october uh and then the percent change.

So this is the weight, change percent change and it's really it's got ta be yeah. Just i mean look at this coffee, apparently up 3.7 percent. I don't know how they calculate that. Look at that roasted coffee is up 3.7 percent, but instant coffee is down two and a half percent yeah salad dressing, four percent, but the big ones here were fuel propane and kerosene uh.

Seven percent propane, kerosene, fuel oil, thirteen point three percent cheese, uh energy services. These these were the killers over here. Whoa. Look at this one folks, window coverings window coverings were up 17.2 percent.

How are you of 17.2 on a month men's underwear, two and a half percent, but men's shirts and sweaters are down five and a half percent women's dresses and women's suits five and a half percent, and then the used cars and trucks again coming in with this Disaster here of 10.5, along with uh audio equipment, but they don't show the monthly rent of shelter here, rent of primary residence. Oh there we go rental primary residence. That's actually not that bad 0.3. I don't know if i believe it uh, you know owner's equivalent.

Is it is a disastrous way to measure rent, so i think it's vastly understated, but wow uh, okay. So let's go ahead and see the markets reacting to this, i i expect not very well uh, with the exception of of bitcoin. I wouldn't be surprised if bitcoin was doing well, so that's cpi report not great uh yeah. I mean bitcoin's at 67, one yeah it did jump.

What was it at? It was at 66.4. Okay, i mean that it jumped 700 bucks on that news and honestly it could just keep running uh from from an update like that gee who is let's uh, let's go to the one minute here: oh yeah, yeah. Look at that! Look at that volume that came in so this thing was at 66, 400, we'll call it and it basically just jumped 1300 points on the cpi news and then here's the stock market along with actually, let's do indices first, so indices, ugh, dow uh down 0.25 0.24 Percent, a 0.37 on s p, 500.65 on nasdaq. It's not good uh.

So much for inflation and fighting down uh any time this year. That's definitely not happening. Yeah! Okay, so i know tesla was positive. Oh gosh yeah! Now it's down another two percent whoa.

It bounced off a thousand, that's crazy, see here is the pre-market pre-market opened up and tesla was actually up a couple percent. I saw this. I saw the free market before i went to sleep and uh. It's it's just bled out in the pre-market here: bounces off a thousand bucks where's a cpi release was right.

Oh look at that folks cpi releases right here, and so you go from 10, 16 to 1, 000. Basically yeah! That's that's about that! One and a half percent adjustment there, oh neo down 1.7. Let's look at some of the big losers here, poshmark down almost 33. Oh, my goodness! How? How do you lose a third that fast, that's whoa, wow, uh, upstart down 24: oh toast, down 10 coinbase 9.6.

A firm down 6.16 uh yikes these numbers are not good uh, i'm going to change the title to uh. This is bad because it's it's definitely not good. So this is bad there. We go.

That's a more appropriate title than cpi data release who man? That's a boring title uh. This is bad now that that's interesting and it's also accurate. You know it's kind of ironic that before the report came out, i chose this cup and i took a selfie with it. This my friends, is the don't sue me bro mug.

Please don't sue me bro, because if you sue me, my sioux is gon na be even bigger. Um anyway, where were we so uh camber energy down 12 percent, a toast down twelve percent uh monday.com nine point: six percent, a farm uh? Is that one forty eight wow a firm stone uh from from like an intraday high of 176 a few days ago, a firm's down like 28 points? Uh, you know, that's that's a lot. 148 divided by 176., that's uh! That's down about 16 percent from that intraday high. I mean that was pretty euphoric, 148 still pretty amazing, but look at this uh nvidia down 4.8 percent lucid motors down 5.25.

I oh, i wonder how much these have been actually reacting here, yeah! No! No! It's! It's all sharply dropping because of this inflation number, because this report here kind of screams fed raise rates sooner, but a lot of it was that used car section again cars. Would you get out of the way you know what folks just stop buying cars? That simple? Don't buy cars anymore, just work from home. I don't. I don't care if you work in a factory just work from home: okay, uh, all right, cloudflare down almost two percent, robin hood: two percent tesla two percent sun run 1.75 laminate.

I mean this is just oh. Okay is anything green doordash at sixteen percent redfin at one point, six four uh, not much uh. That is not much. Oh did michael bury tweet on tesla.

Remember he only comes around when tesla falls now, oh, i can't view him because i'm blocked uh, let's see here, is five or really up 14. Oh delete it again. Uh, big short investor michael berry, says elon musk may want to sell tesla stock to cover his personal debts and compares current market to dutch tulip bubble. Oh yeah, that's the perfect time for it murray to come out uh okay.

So this was last night or something the i, the icon, mike of the icon, michael burris, tweeted, the possibility of dropping 90 okay uh. Where did he write? I'd like to see the original tweet, but oh well reveal? Oh, this is november 1st, oh yeah here yeah! Well, this is this is actually two nights ago: oh okay, regarding what elon musk needs to sell because of a proposed unrealized tax or to solve world hunger or well. There is a matter of tax-free cash. He took out in the form of a personal loans, backed by 88.3 million of his shares.

I mean that's, not a big deal like who cares uh 88.3 million dollars relative to like paying 10 billion dollars in taxes. These are. These are really big numbers. Michael burr is an idiot screw him.

He comes around when it's convenient when it's not convenient. He deletes his twitter uh freaking nut anyway, so um anyway on inflation. I do want to know what the 10-year treasury yield is doing right now. Let's see 155 is my guess, a what no this can't be it.

This can't be right. This can't be right, no five day what there's no way this can't be accurate. No, that's not that's not it hold on. This is stupid.

It's just dumb dang. It you're gon na reopen bloomberg because, while the computer crashed uh but yeah, this inflation report is not good and uh. I'm very curious to see if i can get a tar hero of the 10-year treasury yields, but uh look. It appears like it was driven heavily by this change in used cars again.

Another 10 change in used cars, while previously it was negative, it was negative, helping drag the index down. That's what we expected. We expected it would be negative uh, but now a sudden out of nowhere, 10 bum nobody's actually going to read the dawn report. Everybody's just going to be talking about the headline numbers, and so this is for sure, going to be a sell.

The news in stocks uh, you know it's going to be uh, oh roblox price target race to 124 at uh goldman sachs, and here we go. What is this benchmark? Treasury? Real? Oh, that's! Really old! I know i want that. I want the current nominal yield. Oh man, all right here we go 10 10 year.

Let's see it see if this actually shows it line char, so i'm expecting it to have shot up. Not really. Is it how? How did the 10-year treasure? Is it just not 5 30? Where is 5 30? Okay, 5.. 30..

For some reason in the minute before it fell as low as 1.46. The report comes out. It goes as high as 1.486 and now it's at 1.47. I mean that is so weird.

The stock market is not i'm sorry. The bond market is just not really caring. That's so weird. It's the same number yeah.

The bond market doesn't seem to care uh about this inflation reading, but the stock market does a lot. Oh man, uh and uh going back to crypto here for a moment. Let's go to coin market cap again: yeah bitcoins! Now now up to 67 six, that's about thirteen hundred dollars! A thirteen hundred dollar move in just the last 24 minutes. Here, oh yeah trading view go to the minute chart.

Okay, i blame apple. There we go whatever uh fine, we'll go over here. Btc usd okay, yeah! Look at this! So let's go a minute yeah! Here you go! Look at this here. We go! That's 66, 4, 6, 3 level right before it's almost like bitcoin was kind of selling down a little bit leading into the report.

It's kind of interesting that tentativeness but actually selling down, and then you had you had some real shopping now that happened here. Look at that, it's almost at 68, 000 right now and uh it actually. Ironically, it took weeble a second here to actually reflect. I don't know if that's a weeble delay, but i don't think the market was that slow.

Let me see here is coin market caps. Gon na load, no, apparently not okay technology is something else today you know that's what we need is. Oh here we go okay, so i got the one-minute chart on google on the chrome version. Yeah it took the market until three minutes.

No is it is that right, yeah until three minutes after the report to actually go up uh and then it went to 66, 8, 67, 1, uh, 67, 5. Now we're sitting at about 68. yeah. Definitely definitely a nice little jump here on on uh bitcoin wow.

Okay, what are they saying bell both came out with generally more disappointing results and or an outlook that doesn't exactly analyst forecast so watch. Those two shares also the reopening trade consumer focused as well, given that consumer price info that we got earlier carnival corporations southwest airlines live nation hilton worldwide, among some of the stocks that are on the move to the downside, generally speaking so far today, so keep an Eye on those reopening travel type plays on that and then yeah. I'm surprised with how slow bitcoin reacted on that three four minutes on a reaction: slow half percent now one and a quarter percent in the pre-market trade. 10.

10 spot 84. The last trade there a massive mover to the upside for sure, but still that sharp move lower that we've seen now puts it at about an 18 decline off of the highs that we saw just over this course of this past week. Again, just about 210 billion dollars in market cap lost in this three-day losing streak joe. To put that in perspective, it's like losing the entire market value of intel for tesla in three days i'll, send things back over to you guys, hey, hey dom.

Can i just jump in real quickly? You were talking about the gold move based on this up one percent. I was asking bitcoin, apparently up 1.3. So once again it's kind of outpacing. The gains oh 1.1.

At this point, but outpacing the gains you've seen with gold. As a hedge for inflation, maybe that that narrative is starting to come a lot more, i'm hearing a lot more traders and investors talk about this idea that bitcoin or cryptocurrencies in general is a way for some folks to start to play the hedge against the inflationary Environment that we are seeing right now, i would point out that that's a paradigm shift right, because people have to get their arms around this notion that digital currencies cryptocurrencies could serve. That kind of a role what's curious to me is over the course of the last. Several months that we haven't seen gold prices themselves, physical gold prices do anything that seems to have been over decades.

The way that most traders have played in some ways, a rising price environment. You haven't seen a lot of that for gold prices right now, but, as a result, joe, i would say: watch the gold mining stocks, especially the gold miner, etfs uh. Well, gold just moved a little bit, i'm looking at the one day chart here. What did gold do? Oh yeah gold definitely moved on the one day chart it just ran from right before the cpi.

It was at 18, 23., say to 1849 now so jumped about 25 is definitely a nice little pop off there on uh on gold per ounce sitting in about 1849 right now, 1849 gosh. What up this is a bad headline, uh, and i mean this is going to be. This is going to be the click bait of everything for the next 24 hours. I mean this is going to be printed on every newspaper tomorrow, uh for those who actually still get the newspaper and uh wow.

I just uh, okay, let's let's dive in one more time, because it it just i'm trying to understand the uh. The contents here of of what led to this insanity and it it just it feels weird to say it was just cars. I mean a lot of things went up, but i wonder what it would have been if, if cars didn't go up the way they did. That's what blows my mind here: used cars and trucks 10.5.

That was not good uh. You know transportation commodities, transportation, commodities; 5.6. That was the big stuff right. I wish we had.

They had a sort feature honestly that'd, be so cool car and truck rentals 5.2 yeah. That was another one, a lot of the car related things. Of course you got miscellaneous things here like cds, but who cares about this, and what's this checking account and other banking services up thirteen percent uh yeah? I don't even understand that, but okay um, i see here cars, do they have it without uh, along with shelter, used cars and trucks and new vehicles, uh indices for airline fares and alcoholic beverages declined most component indices increased over the month, along with or including shelter Used cars, trucks, new vehicles, uh medical uh, medical care, household furnishings and operations, and for recreation, medical care, medical care, medical care listed at 0.5 percent transportation yeah, it's just mostly cars. I do wonder how much it would have been if the car issue hadn't been so large, but this is a big report.

Okay, gold's going up a little bit more 1853, now uh, it's such so weird ho ho relatively slow that uh response time frame. There is uh we will be covering rivian going public as well today when it does uh. Okay, all right, wow uh! Well, that's um, i'm a little speechless with how high it came in it's not good and the indices aren't loving it and down futures uh. It looks like a dow recovered a little bit: 0.17 percent s, p, futures 0.35 and nasdaq futures down 0.69.

Let me go to spy over here. Spy spot yeah spike's somewhat recovering here a little bit. You could see that sell-off right when uh when it occurred. Slight recovery here about halfway back: let's look at the individuals again, tesla yeah! You see that same sort of slight recovery here, tesla 1009 right now apple saw the first initial drop and a little bit of a recovery here.

Uh you've got looking at uh the pre-market here, more broadly poshmark, 31 purple 30.4 percent upstart 24. How to upstart response? Um yeah here was upstart. Okay, upstart also still trying to recover a little bit but big downtrend 6.77 on a firm, that's ouchies! I don't even think, there's honestly news on a firm. I think it's just the the venmo paypal stuff uh discussions about potentially people shopping more in stores, because they're worried about uh supply chain issues.

Think about that. For a moment, people going in store because you're worried about shipping wow all right, individual company news on a firm, let's see well after the australia news, there's no specific affirm news. There is a mastercard update, but this is just from seeking alpha mastercard. What is this mastercard just? Well, i can pull it up over here.

Do it over here one second: let's see here, mastercard signs up more partners for its buy now pay later program. I'd like to see what that is, there we go. This was posted about an hour ago by seeking and seeking alpha, and i want to see what their evidence that is the buy now p later. Space is becoming pretty popular, buy now pay later.

Okay, here we go. We're in mastercard is expanding us by now pay later uh. Do they give any data insight? No they don't they literally. Don't that's lame one line.

That's all! That's all we get. Let's see if there's a press release press release newsroom at mastercard, because that's a big drop on a firm for what seems like nothing but then again it's it's ran like crazy. It's not a surprise! Oh yeah yeah! Here we go uh. It's not a surprise that uh it's selling down a little bit.

Okay. Mastercard today announced the further expansion of mastercard installments. Its unique, buy now pay later program. American airlines, csi five serve and global payments company will work with mastercard and the already diverse and dynamic array of participants in the program in australia.

The buy now pay later players hum group and line pay are embracing the benefits of adapting or adopting mastercard's innovative, open loop model. Uh install okay, let's see flexible options to customers, including zero percent. The pay and four model without onerous merchant integration paying for model is so boringly, but okay, delivering scale and inclusion customer protection whatever i i don't. I don't see anything here.

That's actually particularly proprietary, pre-approved installments uh can all can be used directly on a merchant's website. It'll be stored in digital wallets through a banking, app; okay, all right as a brand first white label payment solution enabling enabler that brings brands closer to customers line pay is looking forward to unlocking mastercard skill line pay by now pay later service in australia. Was it australia? Maybe it wasn't australia, one of them was australia, but anyway line pay. Wow where's line pay come on.

I'm gon na google that one line pay yeah, australia, okay, wow all right anyway. So that's uh! That's that! Let's look at some headlines here. They're not expected to be good, so uh, all right. Inflation in u.s builds with biggest gain in price since 1990.

Whoa, that's crazy. Uh! That's uh! 30 years, 31 years, prices paid by consumers rose from a year earlier by the most since 1990, reflecting broad-based increases and adding to evidence of building inflationary pressures as companies find more success in passing on higher costs, the consumer price index increased 6.2 percent yeah. That's crazy see, i don't they didn't really give any additional info other than some commentary on fed in china. Inflation at factory level at the factory level last month, increased by the most in 26 years, while consumer prices in brazil sped up by more than forecast excluding the volatile food and energy component uh inflation rose, 0.6 and four point: two percent from a year earlier, shelter Costs which are considered to be the most structural component of cpi make up a third of the index rose point five percent in october, the most in four months has higher rents and home prices fed into the data.

The cost of hotel stays also increased price for new cars rose 1.4. Last month. As the global shortage of semiconductors continued to limit inventories, uh used car vehicles jump yeah. I i wonder if this is like an annualized rate because or uh or what? Why is it percent change, seasonally adjusted since, let's see here current one month, adjusted see this shows it much higher see.

Let's see if you go over here to used cars, we see it at 10 10.5 and that's the percent change category. So that's interesting to me: that's that's odd, why they would list it this way, but anyway, yeah, okay, used cars, drove them up uh, and this can't be year over year. It's been it's been way higher here over here, huh, okay, other than that one part yeah. Okay, wow all right, but uh yeah u.s inflation reached a 30-year high.

It's gon na be headline news on each page. I think this is bad news by the way for the build back better infrastructure plan that joe biden wants to pass because he is fighting people like joe manchin, who are waiting for uh more data, like inflation data to uh, make his make up his mind. Basically, if he wants to support the infrastructure plan and this, this sort of cpi report is not going to help motivate somebody like joe manchin, it's not going to be good. Ah, okay, let me see: what's uh oh yeah, here, u.s futures extended losses after data showed uh.

Well in inflation. Okay, we read about the inflation and futures fell. That's all it says: okay! Well, we see the reaction. Let's go back, let's go to btc uh btc.

Now, at 68.2 ethereum well over uh 4.8 right now regularly moves off inflation, but we uh. We did expect that uh bitcoin would go up after a bad inflation. Reading 17 on doordash and hives up about nine percent looks like the crypto miners are moving up here. A little bit, i expect them to open, pretty well uh this morning, we'll see but other than that i mean zillow's sitting at point two: three percent up, not a lot of green.

I think we're mostly gon na see right across the board here, not a good report at all over six percent that was just uh what uh, what a shocker to the uh to the upside. Let's see 1.2 percent pinterest down 1.6 poshmark purple upstart. These guys are just the ones leading everything i want to see how they open honestly, a firm six point: five, two percent lucid five point: eight percent nvidia, four percent. So five four point: two percent amd three point: three: eight percent new egg: three percent matterport, three percent uh and tesla down two percent sitting at 1002 right now, one thousand and two dollars laminates down two percent as well all right, let's listen to jimmy! What's jimmy got for us, but that was that was not a good report he's on i'm not kidding get this yeah something for me.

Yeah he's right, modern he's a moderator. Yes, i'm aware you could say to cezanne. Do you mind enough with the fruit enough of the fruit? Could you give me a cheesecake okay, you could go to monae and say how you doing fruit and they understand what. Why is it every time we tune in? They have these weird conversations going on.

He said he said you know what what i figured out idiom and i said, in other words, outlaw manchurian candidate. If i said go jump in a lake, hey jump out of lake or get out of town. His characters will actually understand that. That's colloquial all right.

So david, what do you want jensen to program? How about the well? I still have my question: did he answer it? When i'm dead, am i going to still be alive in the metaverse, we'll work on that, but having an answer from how about this? How about the nixon, favor interviews - i don't think wilford frost would be happy about that. Oh no! I i was thinking. I just got the copyright. No, the nixon paper interviews, jim.

We got so many other names to get to this most exciting morning of the year. Yes, we're going to follow ribbian we're also going to get to upstart, which is how do we wait andrew? Can we get some like andrew's, sorkin stuff ribbian is going to be interesting today, all right, we're uh, 17 minutes away right now from uh uh from the opener here from the market open, oh yeah, yeah, okay, wow! So what else here? Okay, i'm just looking! I'm i'm honestly just back on the cpi website here for a moment. Uh, let's see here, it is just shocking to me how how they pulled that off such a large headline, uh year-over-year print, oh well, it's uh! It's leading bitcoin to go up! Look at this bitcoin sitting at uh. What are we at now? 68.5.

686. Now crazy, big old moves to the upside here, uh all of this right here, just pure inflation, fear and - and i would really expect almost the opposite to happen if we were uh. If we were rotating down, you know if we were like a deflating, so man are we gon na hit 70 000 today after this, that would be interesting. Oh yeah neo reported earnings.

Last night we look at neo, really quick yo, let's see here. Okay, neo neo comes in with a loss of 129.6 million dollars. Revenue came in at 1.52 billion, they had 24 439 deliveries in uh the third quarter. They are forecasting 1.46 to 1.57 billion in revenue in the fourth quarter, hmm yeah and it it fell a little bit.

I mean it looked like it would beat estimates too yeah. Oh yeah revenue came in much higher than expected, so they actually beat so neo beat. But obviously everything's down right now with this inflation fear uh somebody says: didn't get the chance to see my revenue. Video well go watch.

It would be plenty of time before the ipo when's, the next time. J-Pal talks. I want to say our fed meeting, but let me let's: let's: let's click here. This is our central banks, uh.

Let's just look at the recent calendar here or, let's see oh, would have to log in again darn it. Okay, fine yeah. I don't believe we're gon na see uh jerome again until the beginning of december, but let me see fed fomc meeting december 2021. When is this one? Okay, so they have a two-day meeting december 14th and 15th.

That's the next uh! That's the next meeting! All right! It's gon na be a bit it's gon na, be a month by then we'll know, uh who uh joe biden's gon na pick. I wonder if joe biden is, is letting the the uh not transitory the uh very present uh uh inflation readings right now. I wonder if joe biden is is uh, how he's incorporating that into his decision to potentially choose somebody else. Uh as chairperson of the fed and now j-pal wow unity is down seven point: eight percent.

This is gon na, be a weird open. Well, it's gon na be red open, we'll see what happens wow almost at 69 000 on bitcoin. Oh it just bounced off of that. A little bit, though, literally looks like it bounced off exactly sixty nine thousand now red candling, oh yeah, yeah! All right! So, let's see here all right, let's go back to what do we want to do? Let's go to financial times, let's see what they're saying bitcoin hit 69k yeah, it immediately bounced off uh! Oh thanks for the compliment on the riven video yeah watch that if you have not seen that yet uh yeah i mean i, i have an email for uh, the rivian ipo as well, but i don't really want it.

So let me see what deadline they gave. One and a half hour window - that's yeah! That's that's short. I thought the deadline was 7 a.m. This morning, let's see i'll pull it up again, but basically, if you pre-ordered one of their pickup trucks, they let you get an allocation of like it was up to uh ten thousand dollars i'll double check right now.

Maybe it was seven a.m: eastern uh! Okay! I will find out one second, let's look at the ribbon uh, let's see here, we have one five, all right, one. Second, okay, reviewing action required, uh! Oh, it is eastern time uh. Well, that's! Okay! I didn't really care for it anyway, uh but yeah anyway. It was like it was, i think it was.

You got up to ten thousand dollars worth of shares. That was uh. That was the max that you could really get as an allocation yeah at 78 dollars a share, but it does let you buy at 78 dollars, which is kind of cool, because usually these things do jump up substantially after like an ipo, because they purposely under price. A little bit uh, so that's pretty common anyway.

Okay cool! What about uh? Let's see, let's see what fox yeah i'm very curious to see. While we've got a few more minutes until the opening here - uh. Oh okay, that's odd! Oh there! It is all right. Let's see what fox is saying: fox biz, oh can't right now, because it's loading cute, very curious yeah.

Look at that bitcoin bounce right off of 69 000.. Did it hit yeah. Look. It hit a lot a high of 69 000 even and bounced off uh bitcoin.

Here so definitely some limit set here: let's listen to fox biz for a sec. It doesn't look like we're talking about business. Let's see really way down, i'm talking about stocks now and in fact the cryptos they are holding up quite well. Now the crypto there you go it's on the screen now 63 points down for the dow 90 for the nasdaq.

That's not a huge reaction to the inflation news right, aaron rodgers! He was on your screen a moment ago, he's now speaking out about his own vaccination controversy lauren. What did he say? What's he saying now? He said sorry, not sorry here you go. You know i made some comments that that people might have felt were misleading and uh. You know to anybody who felt misled by those comments.

I'd take full responsibility for those comments, all right. Let's get up that period of time. That obviously led to perhaps where we are today i read jeff's book. If you read the book, you think he did a magnificent transformation.

He sounds like biden getting out of afghanistan. Any thoughts about that. I'm going to stay away from that one. It's a in some ways: it's a it's sad! Okay, i'm just shocked financial news.

Media is not spending more time actually talking about the details of what was in the inflation report, but okay, they're gon na uh talk about other things like the vaccine and uh ge. Well, that's uh, that's the media! For you all right. We have uh eight minutes uh until the opener here and let's look at the indices, how things are doing over here yikes. This is just bad here.

It is uh all right. So, look at this uh dow jones down one seven s, p futures down point three: four. It seems it really seems like it's recovered a little bit, uh, which that's good but uh. The 10-year treasury yield i'll, tell you.

That is one! That does surprise me. The 10-year treasury yield at 1.47 - that's a nice one, but i it's really so. Let's try to put our heads into that for a moment: uh, the okay, whatever um 10-year treasury, yield not going up. That much is a little bit mind-blowing to me, because this was a pretty bad miss on cpi and you go to the the chart here.

It's just not moving up and you had the same thing when i was looking at bloomberg. So it's not it's not like. It's just the cnbc chart. Ten, your treasury isn't really moving up on this, which, if you had a high inflation report, you'd think that there might be some selling of bonds, which would lower prices which would increase the yields.

But you didn't get that you're staying low, yeah 1.47 same thing confirmed over here. It's very very odd to me: yeah the stock market, the stock market's reacting negatively uh bitcoin is reacting positively, that that is expected. That makes sense, but the 10-year treasury yield not moving kind of implies. The bond market is seeing through this.

You know that the bond market is basically looking at this saying: hey it's just uh, it's it's not that bad! That's almost what it feels like. The bond market is saying now: gold shot up uh gold sitting at 1856 right now per ounce, that's up from 1825, so 18 56 divided by 1825. That's a movement of about 1.7 percent. It's a lot for goal! You know! Gold! Doesn't move as volatility as uh as let's say bitcoin, but uh yeah, one point: six one point: seven percent move there on bit: uh gold bitcoin, on the other hand, bounced off 69 000, and now it's bouncing around 68, 368, 4..

So interesting. How? How much of this was potentially just trader momentum here, people trading the news on cpi we'll see we do have the opening bell in about four minutes and relatively similar kind of burning that we've seen over here and that's some of the stocks uh. Taking a look at tesla for a moment, is it under a thousand yet not quite it's at 1005. uh one thousand and five dollars is bond dip buying a thing uh yeah i mean, i suppose.

If prices fell, maybe other people would buy the dip. I don't know yeah. I talked about a firm already. I i i you can scroll back and listen to that part kevin.

I bought my first house. Thank you so much. Oh! Well, congratulations! Pembroke! Pines florida! I used to live in davey, so that's awesome good for you. Congratulations! Five minutes to start buying the dip right! Uh! Let's see here, inflation will normalize after you know once once these things to say yo, that's that's what we keep hearing hmm.

Could the 10-year treasuries be a warning of this for the stock market i mean they haven't moved, i don't know how they could be a warning for the stock market. Uh, you know it's. Just the inflation numbers were horrible check out the two year. It's moving 10 years seems to assume demand destruction.

Ah, okay, let's look at the ten year, the two year, good old, ten, two all right. What do we got? The two so the two year on the day, charm yeah this one had a move, see this one went from point four: five uh right at the time of the report and it shot up to about 0.49. That's what i would expect uh in the 10.. You could also look at the five year.

Five year is a little bit more sensitive to uh this as well. Let's look at the five five year chart on the day. Sorry, i know you can't see the chart, but yeah five year chart on the day moved as well from about one point: one: five, sorry 1.115 to about 1.14, all right, okay, so tesla now uh down about one point, two, two percent uh. It doesn't feel like almost the market's slightly recovering after that crazy inflation report.

Uh you can see this is. This is the fall we had when we had the inflation report. Here is the jump uh that were sort of the recovery that we've had, but those inflationary numbers were or something else uh. I mean much much higher than expected.

We're expecting 5.8 percent, and if you hop on over here to to the headline for cpi, instead of instead of getting 5.8, we got 6.2 with a month over month, increase of 0.9, it's terrible point times 12. So an annualized rate is 10.8 percent. Annualized inflation! That's not good. It's a big old uh, a big old, beat all right 30 seconds to the opening bell and uh yeah wow uh, we'll uh we'll go ahead and pull up tesla here, we'll watch tesla on the opening bell and uh.

Well, we'll listen to the opening bell as well and we'll come back to tesla, we'll see how it did we'll see if it's gon na be a big institution, sell down or buy the dipper's gon na. Keep it up all right. Let's see um jim, we got the opening bell here, of course, uh. I think this is gon na be like 80 to 90 percent red.

Let's see gary roberts says took profits when you suggested and waiting for a big dip. You were spot on thank an ico and you you can see it's brilliant electric vehicle maker, of course, celebrating its ipo ringing, the bell from its manufacturing facility. All right, that's cool! Look at that. They have a factory folks, there's origin factory, it's real, looks kind of cool, actually um, that's a great shot.

Look at that holy smokes great shot. Okay, they didn't show the s p heat map like they usually do, but i'll go back in the event that they do show it, because usually they do so tesla here at the open uh sitting at uh 1009 sitting relatively flat within this first minute of trading. Here all right, let's see here, uh poshmark. How is it doing so? It's starting to trend down oh weeble's, gon na be funny uh.

There we go ah percent change there. We go poshmark down 32 sos limited down 29.6 purple 24. Upstart 22.6 start recovering. Look at that up starts recovering.

Coinbase is recovering. Oh, my gosh. Look at a firm. It's down.

10 whoa deleted uh on, like virtually no news 21 on uh upstart. It's a lot of momentum has gone into a firm. So it's honestly not a surprise. It sells down, i kind of hope it goes down like 110.

Something like that. Could you imagine it breaks a hundred again, just being nice by the dip opportunity. Uh a coin base. Seven point one two percent to the upside here in i'm.

Sorry, i'm sorry to the downside, seven percent to the downside, but it is moving up right now on the open, nvidia down five point: three eight percent and it's falling trade desk had a great day yesterday, but uh now uh down four point: seven, nine rising slightly End phase down 4.54 trying to move up meta material 3.85, lucid 3.85 sun power, 3.14 doordash - is giving up its gain. Oh yeah, look at that. Doordash is just giving up its gains right now. Tesla, oh yeah uh, oh tesla tesla is under a thousand now it's at 993.

Oh the market's going red. The excitement is gone thanks to this uh good old, uh inflationary drama, big drama, uh, roblox down six point uh, whatever uh or actually yeah roblox down. Now eight percent roblox falling hard yikes. Now it's just ugly tesla falls below one trillion dollar market cap.

It's no longer a trillion dollar company. I made a video on uh rivien. I encourage you to watch that uh for the person asking about if i'm buying ribbon bitcoin interestingly kind of fizzling a little bit after hitting 69 000. But again could just be traders rotating out.

I do expect oh yeah. The miners are obviously up two percent three percent neos up two point: six six percent on uh their beat. So that's good x, being point: eight six percent, uh miscellaneous gains here, but really neo up a couple percent miners are up and bitcoins up. Otherwise, almost everything is just down.

Netflix is down a third uh of a percent which is not a bigger deal of the move. Two-Thirds of a percent on google uh d-wax still hanging out but uh. The big decliners are really where all the uh the attention is right now that in tesla and kind of watching where this market evolves, yeah look at that tesla now down 2.6 go to spy spy right here, uh yeah, starting to rotate down a little bit more. So not great for the indices.

Let's go back to the indices here. Dow is only down 0.07, though uh nasdaq, though getting killed here down. One percent s p 500 down point three: nine percent: let's listen in uh here to crames by 60 million! Well what? If this you want fraudulent, it's this whole notion of estimates. I mean we get.

How much did you beat the estimates by no yeah? Okay? Well, the analyst estimate stuff yeah, whatever uh, i thought they were going to talk about. Maybe inflation. Imagine that that report came in goodness gracious uh, let's see here, um expi is skydiving. Let's see, if that's true, let's see here, oh the spy is turning uh rotating up again, let's look at the xbi expi, it's down three point: five percent yeah: it's not that much uh yeah! I don't know enough about upstart to recommend buying upstart uh and i can't really recommend you buy anything because i'm not your financial advisor but uh.

I love. I love potential opportunities to get in on nvidia and look at it. It's actually turning green now. So now you're getting the sort of by the dip troop coming out here and same thing on a firm gosh one.

Four. It fell to 139 for a second there wow lucid down 5.5. Oh there we go tesla trying to recover yeah. Why was the reading worse? In october uh, when inflate, why was october a worse dip when inflation readings are worse now uh? Well, there were more uncertainties in the market.

Uh left over uh before the rally really began right, the first first and first, like 10 days of october weren't, that great you still had lingering kind of side effects of uh drama from september, but wow neo's up three percent. So at least there's some green in the market see looks like the market's definitely trying to recover at least spy spy's going green tesla. Oh whoa, look at that folks. Tesla was down about three percent.

Now it's flat. It's going green people are buying the dip like crazy, oh wow. This is cuckoo for coco puffs. What a u-turn, how's nvidia nvidia, also recovering.

It's still down about 3.4 percent here, but it's definitely recovering uh, robin hood's going down and not recovering uh. Looking at the big losers, sos 29 poshmark, 28 purple 24 up starts only 17. It's it's being bought up. Look at that this is the buy the dip wow.

What is this lmnd lemonade is green. This is so weird i feel like i'm in a simulation and somebody's just screwing with me today like what now things are going green again. This is so weird and shebe's at 51.. I don't get it.

I don't get a few things. First of all, i don't understand how uh the cpi report came in at 6.2 percent. That's insane! I don't understand why the 10-year treasury yield is not skyrocketing. I mean it barely moved.

I'm shocked by that. It's always moved on a cpi read apparently not now uh and now you have this sort of larger dip in the stock market, that's being bought up by all the by the dippers. How dare they? But that shows resilience to this rally. That's actually a good thing, because we want the end of the year rally and you know mostly to continue with the exception of opportunities to buy the dip, which, i suppose, that's that's some of the.

What we're seeing in some of the declines here i mean 10 on coinbase highly on toast, toast down 13.5 percent uh firm's recovering it's still down, but it's it's definitely recovering trending back up. Let's go tesla, tesla's green! Now, 0.15 percent wow! Let's go to goog google's getting worse, so i guess it's it's more stock. Specific cloudflare is back over 200 sun runs. Moving up, paypal is still a mixed disaster.

Matterport was down like three percent. Now it's only down like point eight yeah look. I i get it. I i saw your comment the last time about the demand: destruction uh.

You know once once things catch up, i get it, but what i'm saying is every prior cpi report every single time i've covered the cpi this year, the 10 year has moved substantially on cpi day and it just didn't today that's different and i like to pay Attention to differences in the market. You know i'm not going to listen to one comment and they go. Oh, that's it. Okay, all right! It's normal that didn't move! It's not normal.

The 10-year always moves when the cpi comes out, and today we have a big beat and uh, which is bad. You know sometimes beats implies good and uh it, and it doesn't move weird, just weird all right. Well, that is just the bizarreness of this market. Okay, firm's back down firm's back down to that 10.5 percent uh sheep sitting at 51, new eggs down 6.65 23andme 4.69, robin hood down four percent uh amd.

I think there's a little potential opportunity on the chip makers falling a little bit expi three percent nvidia, though we're covering it's only down about two and a half compared to where it was roku down two and a quarter: amc down, two percent hippo owlette, a couple Percent to the downside, red fins, almost a couple percent, so it's so fine, um yeah and then the upside crypto miners, doordash and neo neo and arrival doing very well right now. I think there's gon na be a lot of excitement about uh rivian, which reminds me we got ta. Add it to the watch list here. So usually these companies go public around 10 or 11 california time.

So, let's see what happens there. Uh, let's go to spy spy spy is rotating up again, it's still down a little bit about a quarter of a percent. Okay. Let's go look at headlines for a moment.

What a bizarre bizarre day i uh it just feels like the elon musk simulation again: hey, yeah, yeah, all right, so um all right. Let's go to bloomberg here so uh. Let's see here, yellen says the federal reserve wouldn't allow a repeat of 1970s level inflation uh! We've got china stocks pair drop as drug makers developers bounce back, oh that's kind of similar to what we're seeing in the u.s market. The the somewhat of a little bounce back zillow agrees to sell 2 000 homes as flipping business ends.

Well, that's old news. What has anything changed here, because we already knew they were going to dump a few thousand homes recently getting into the new york-based investment firm pre-tm partners will purchase the homes. Ah, okay, pre-tm owns more than seventy thousand rental homes in the us, making it. The second largest single-family landlord behind invitation homes i got ta - beat both of them.