So what was announced today that caused the NASDAQ market and really overall markets to have one of the biggest screen days of 2023.. What's going on? Team: It's Ricky with tackled Solutions here with a super quick stock market Update: I Hope that I answer any questions you might have about what happened today and if so, please make sure you drop a thumbs up and consider subscribing if you feel like we earned it. Let's go ahead and talk about the overall. NASDAQ Market Tqq with a nice push 7.92 An insane day.

The market did not give making higher highs and higher lows throughout the overall day. This kind of reminds me and again if you guess I've been here long enough. This kind of reminds me of the NASDAQ Market back in 2020 and 2021. it was beautiful to see.

I took a loss today I lost a little bit over thirteen hundred dollars at a small position in Sqq. I Opened it during my live trading session with my Lpp team. I closed out a part of it I left part of it open I Told my team that I was going to stay light and the market just never gave right I stayed extremely extremely light. It was less than a one percent position based off of what I normally trade with so again, scared money doesn't make money I Just wanted to make sure that I managed my risk and a way to manage my risk just to manage my position size.

With that being said, let's go ahead and just answer that question. What was announced today, that really caused a lot of bind pressure, right? A lot of certainty, especially with everything that's going on with inflation. With the possible idea of the Federal Reserve no longer raising interest rates as aggressive or completely pausing them, and then of course, with all the banks failing, what's going on? So one of the first things that I want to cover is that the market turned positive after CNBC David Faber Reported that the group of banks a group of banks would deposit 30 billion dollars in First Republic. So for those that are unaware, First Republic if I'm not taken, is the bank that was set in New York First Republic and that was the second bank or banking institution that showed signs of failure, right? I think they had 110 billion dollars under management.

Uh, the whole thing when it comes down to uh Credit Suisse Uh. They followed up with this and saying that Credit Suisse had an overnight uh announcement that it will borrow nearly 54 billion dollars from Swiss National Bank. But again, credit Swiss was also one of the global right uh banking institutions that reported and or was Flash in red very similar to Silicon Valley Bank right? Uh, Credit? Swiss if I'm not mistaken, was the second largest bank in Switzerland. So it looks like a lot of these different banks that are flashing red and showing signs of failure.

You know banks are coming together to pretty much save them, right? Because there's kind of this ripple effect that if one fails, it can instill fear in more Banks right? And if think about it right, if more Banks begin to show signs of potential failure, what do people like you and I begin to do right? Well if they only ensure supposedly up to 250 000 then you know this is most likely going to encourage me to potentially not trust the bank that I'm banking with maybe as much as I originally did and possibly pulling my money out. And if enough people begin to ask for their money back then guess what? You think all these banks have your money. You know if you just go to a branch definitely not right and that can lead to a much I would say uh, worse situation with everything that's going on. So it makes sense on why they're trying to help each other.

They're trying to really pause and put a stop to that ripple effect of more Banks showing signs of failure. Uh, one of the other things that we want to cover is what we covered in today's earlier video and it's with what was announced through the European Central Bank. So the ECB live um live stream that they had uh in your in Europe They had their interest rate hike today just like we have next week by Jerome Powell who is the head of the Federal Reserve They announced their interest rate hike uh today and we actually live streamed it during my live trading session with the Lpp team and they announced a 50 basis point interest rate hike. So that was what the original expectation was for them and that was what the expectation was being set for uh for us as well.

Um, but because of everything that's going on with the banks, it is now to be understood that the Federal Reserve will only be raising interest rates 0.25 and or nothing at all. The idea behind that is that if they continue to raise interest rates, it can cause more and or larger Banks to potentially fail and the Ripple effects of that is probably something that we don't want to experience. I'm not the biggest fan of saving these Banks because at the end of it it just gives them another reason to continue to do what they're doing. and that's been extremely aggressive knowing that there's always going to be some form of bailout for them.

But also I respect it because then people like you and I don't lose all of our money, right? We just, uh, again, it's very frustrating that they take the risk, but when it comes down to potentially failing, they end up getting bailed out because of how large they are, right? And them failing is much worse for our overall economy than them being saved. So it's an unfortunate scenario for sure. But again, uh, what? we have for next week when it comes down to economic reports, nothing super significant. Uh, we have a couple that are released about 15 minutes before the Market opens and then we have some that are some economic reports that are released 30 minutes after the Market opens, including the Michigan Consumer sentiment report.

When it comes down to next week, I Do want to remind you that Wednesday March 22nd will be the Fomc meeting and this is when they're going to be announcing the interest rate hike for the Federal Reserve if it's 0.25 if it's 50 basis points, and or if it's nothing at all. So again, that's going to be next week on Wednesday I will be live streaming it. So make sure that if you haven't subscribed to the channel, turn on your notifications, subscribe and I'll keep you up to date. If you have any other questions, feel free to reach out to me via Discord or via Instagram And that's the first or third link in the description down below.

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