Hey everyone welcome back to another market, open a live stream. So what do we got today? We've got the dow right now set to open down about 0.59 s, p, set to open down 0.54 and nasdaq down 0.56. This is ahead of tech earnings. So a lot of uh potential excitement uh brewing for, what's to come with google and other earnings that we've got this week.

That would be pretty big. Uh we've had some earnings this morning as well, which we'll cover we've got the five-year break, even markets, inflation expectation down to 3.26, which is another little drop from yesterday's decline, which is great. We've got the uh 10-2 for the yield curve, uh still kind of sitting around that 18 to 19 basis point region, so it's definitely flattened a little bit uh and uh and then, let's get into some of the other news, that's going on! Obviously uh. Yesterday, uh elon snagged twitter we'll have some updates regarding that mostly uh.

There's a lot of talk about china, though still in supply chains about how really it almost feels like to some degree supply chain issues are almost worse now than they have ever been before, which is kind of crazy, because you would actually think things would end up Getting better and not worse, but that doesn't appear to be the case, especially when a country like germany says they get. You know 50 of their businesses, get more than a half of their products from china, which was pretty pretty wild. That's that's a lot of reliance. Uh on china, so uh the questions regarding china, uh, especially with them accounting for 12 percent of trade and already being backed up with covered backlogs, makes a lot of people kind of scratch their heads about.

When is this? Transitory inflation actually going to end up proving to be transitory uh. So in terms of how bad uh, let's see right now, it takes an average of 111 days for goods to reach a warehouse in the united states. This is down from a high of 113 days, so we've only gone from 113 days to 111 days, which is basically means we're still at uh record highs. Europe takes even longer we're at record highs over there of 118 days to get from china to europe uh and uh vessel queues.

How many ships they have there is 35 higher than what you would normally expect. Oh and, of course, how long it would take to get to a factory ordinarily is taking twice as long as it usually does. Uh imported containers are waiting an average of 12 days at shanghai before they're picked up. This is almost triple the 4.6 days we had prior.

So when you look at sort of the statistic uh you uh you, you end up getting a little sad that uh wow things aren't actually getting better in china and the coveted lockdowns don't help. Especially since you know the economist ran a piece yesterday talking about how china's coveted lockdowns are probably killing more people than covet itself and you'll notice. When china talks about kova deaths, they don't talk about. Oh, this is how many people died from covid.

It's always. These are the covet-related deaths, in other words, like you, died from something while having coveted right. We we saw that kind of same nonsense happen in the united states too and uh. China is no exception, but it's probably possibly even more severe over there.

In the meantime, executives - and this is something that we've been talking about for weeks now - and it's come as a surprise, but we've been talking about it for weeks, and that is that uh corporate executives are touting the strength of u.s consumers. In the face of surging inflation, and that's so critical for for preventing this sort of recessionary, fear uh, it's that the consumer keeps spending uh you've even got uh. You know we. We heard that from jp morgan.

We hear that from amex. We heard that from the travel sector from delta, we heard that from bank of america card spend data, strong spending and recovery travel entertainment more spending than what we had previously which get this. This was an interesting one. In march of 2021, we had just gotten the american rescue plan, which obviously was uh.

That was the 1400 stimulus check. Remember that we had a 1200 stimulus check in march uh april was april 2020. Then we had the 600 stimulus check in december january of 2020 to 2021, and then you had a 1400 check in march of 2021 and still listen to this. Spending was 13 percent higher by dollar volume and a 7.4 percent increase in the number of transactions.

Now i know there are some people like: oh well, they can death because things are more expensive. No, not solely that, but - and i've made this analogy before, but i'll just make the comparison again. If you have a hundred dollars to spend and you can go buy stuff with it, maybe you could buy ten wiggits widgets whatever, because they cost you ten dollars each. If you have inflation and those now cost you twenty dollars each well now you're only buying five.

So you get less stuff when there's inflation and if you then choose to pay more, that means a you had more money to spend and b. You are willing to spend more money. You know, obviously, if if that is related to gas and essentials, well, you know. That's generally, where we have to kind of cut back use of essentials uh, but but this this spend is not just about essentials.

It's about everything who are spending more on everything, no matter what inflation is doing, that that's just a sign of more money right uh then you've got uh. There was a some murmuring ab from bloomberg that maybe elon musk is richer than the world thinks because maybe he got into crypto earlier, and maybe this is how he has a bunch of extra cash they're not able to account for through public filings. I don't know that to me just sounds like pure speculation. We know elon's mentioned that he's.

You know, got exposure to bitcoin, ethereum and doge, but uh he kind of implied. It was really small, but who knows maybe that maybe his initial investment was very small uh? Then what else here? Okay? So we talked about china, oh yeah, the eu's kind of preempting uh elon musk, already saying that if elon musk doesn't moderate twitter and follow the rules properly, then they'll ban him uh and they'll ban twitter from from europe. It's like really. The guys like had approval on the company for a day and you're, already being a caring karen anyway, many twitter employees have more than 50 percent of their compensation coming from twitter stock.

By the way um russian forces have uh in the uh south and eastern regions. Obviously been more aggressive, but one of the things that's interesting is they've, taken control of uh, persia or the cursing region, and and they've taken control of the the city council and have now declared independence, the russian military, uh and they're, calling it the kersian people's republic Uh zelensky calls it a sham uh. It's it's kind of interesting, seeing uh the russians really go with the whole angle of oh yeah. We're we're liberating you here now now you're liberated.

Let's give you a new government kind of crazy uh, also worth noting that uh, statistically at least according to the financial times uh the there's some talk about like how crypto has moved since uh the super bowl and kind of how? How much of a bummer it is that it actually hasn't moved much, but it's actually institutions that are selling more than retail investors. In fact, i got a piece right here uh, so i thought that was kind of interesting that uh this year uh, they say uh that the super bowl was really more than just football. It was like all about crypto and remember i mean they held it uh at uh, the sofi stadium, which also does crypto uh. You've got um this insane amount of advertising, especially from companies like crypto.com ftx.

I mean these companies are spending money, absolutely like crazy, uh and uh. Yet the financial times is like how did we advertise so much? It kind of still see this. This slow down in crypto prices substantially from 69 000 in november to 33 000.. I do personally think they kind of miss the point that, like you know, prices have been moving to the downside because of well the same reason: stocks have been moving, it's not like we just advertise stocks and prices will go up, but you know i think people Like to find ways to poop on crypto uh anyway, so uh, okay, what else do we have? Well? Oh yeah earnings? Okay, now we're gon na talk about earnings.

Quick note, though, this video is brought to you by streaming art. You want professional live streaming software, where you could throw up comments like this one here that says uh since i am here, uh make sure you go to medcabin.com streamyard to check out professional, live streaming software with streamyard, throw up the comments multi-stream to different platforms, excellent Platform, i've been using it for years now, it's great okay, so ups ups beats ups comes in with a q1 eps of 305 versus 288. Fiscal revenue of 102 is uh the forecast, and that was also in line with expectations. Uh, let's see we have see how the stock's moving we'll get some other notes here.

Stock's up about 1.72 you've got uh. Let's see double buy back target in 2022 ups plans to double the amount of sharing purchases yep. We got that uh, cfo, okay, earnings call just getting started, but ups price hikes push profit above estimates as packages drop okay, so it looks like a decline in packages but uh higher profit per package. Is that sort of inflationary cost remember? We saw that from coca-cola yesterday.

Businesses are really trying to do their best to push any kind of cost increases through to uh to their customers, which makes sense. Okay, then we've got uh, let's see if we can get 3m kali. I remember 3m. Was the stockton vested and pandemic everybody's like don't know how to make all the masks they've got all of them.

They have every mask uh. All right. 3M yeah 3m misses on adjusted eps 265 versus 295. Well, no, it was that was year over year.

Actually comparison, uh net sales came in at 8.8 billion, that's actually a slight beat from 8.73. Their guide came in lower than expected. The midpoint on the guide is about 10 10 and they were hoping for about 10, 35, 10 and 35 cents. Then, let's see here, we've got outlook remains unchanged.

No, i'm not seeing any companies really say like oh we're, reducing outlook, because we think there's gon na be a recession. The only thing i saw was coca-cola saying we're gon na raise prices, because what, if there's a recession, it's like dude, these raising prices are part of the problem. Oh well, uh, yeah, 3m profit drops uh dented by litigation; okay, so tbd on earnings. Call for that.

One, how about ge general electric, let's see how they did these are all from this morning, by the way, okay, general electric see some level of challenges throughout 2022 ge outlook, disappointing, but not surprising. I get some more. Some customers, paused wind orders on loss, a tax credit, optimistic u.s lawmakers will restore the tax credit onshore wind orders could slip into 2023, expects low single-digit sales growth in q2, lower cash burning q2, though okay and they came in with adjusted eps of 24 cents versus 20, expected 17 billion in total revenue, so much money order demand strong though, although they're watching uh potential headwinds from china, but order demand, still strong, they're saying and then seize challenges in inflation, ukraine, renewable energy supply chain constraints and covet in china. Okay, that was boring.

Then we've got raytheon, oh and dr horton could be interesting like especially when it comes time to read. The earnings call on dr horton see what they think about the market. Any of the real estate companies are fun. So, let's see here raytheon his next defense contractor.

What do we got? So raytheon cuts fiscal year sales outlook on uh, russia, global sanctions, yeah. That's really interesting because a lot of people were rushing into these defense contractors, because there was war happening. Uh adjusted eps comes in at 115 estimate was 102, it's still a beat sales of 15.72 bill versus 1577 estimated tiny, miss there yeah no go back hold on. It's not being nice to me.

There we go. Okay. Raytheon expects uh. Let's see here, uh delays on titanium sources, working to replace russian titanium castings.

They make a lot of planes out of titanium by the way. It's not so ridiculously heavy, and it's quite uh heat resistant supply chain lead times growing from three months to one year: gee whiz casting glitch, delayed 70 plane engines that doesn't sound good. At least they delayed it rather than yolo uh yeah, but that's not good for business. So then, you've got fiscal year.

Outlook came in at 470, slight miss from the estimate, probably on those supply chain issues: okay, yeah! Actually, that's exactly what it is all right and let's do dr horton and then maybe we've got uh jetblue that'll get us a good look into earnings. So dr horton uh cancellation rate 16. I don't know what their normal cancellation rate is, but that seems higher than usual. That seems about twice as high as usual to me.

Uh, let's see but dr horton raises sales forecast well positioned for revenue growth of 25 this year still significant supply chain constraints, but new home demand is still very strong. They actually think that the next quarter home sales will be slightly better on margin because of the supply chain, issues somewhat starting to reduce uh, and they say they deliberately slowed sales in the quarter and construction time frames grew by two weeks. That's and then they say hi here we go at some point: rising rates will impact affordability. I like how it's at some point, in other words like people, are still yellowing it on real estate.

Dr horton says rising rates are eliminating some people from home. Buying, yes, reducing that excess demand, that's what we have been expecting: a reduction of excess demand and phase earnings today. Do you think supply chain issues and high material costs will affect guidance? Probably you know. Uh enface has less supply chain kind of clout than like apple or tesla.

Right. Remember that and uh they have been air shipping a lot of their micro inverters, which anytime you airship you, you really uh, do a little oopsy-doopsy to the uh, to the margin margin. Bargin yeah, so okay, jetblue, but hey fingers crossed. I like end face uh.

Okay, so jetblue is up. Jetblue has the following to tell us: fuel prices are delaying a return to pre-tax profitability. Q2! Oh listen to this. This is insane like it.

Just doesn't make sense. There's a war going on people. What is this jetblue says? Second quarter revenue is expected to be a record result. People keep spending money, uh, okay capacity, flat to five percent higher from 2019, that's capacity now the actual spend series investments to restore customer and crew member confidence for the upcoming summer travel season.

Summer travel returns at record levels uh even with a reduced schedule. They expect uh capacity to grow some stuff here about fuel jetblue had to act quickly to reduce summer disruptions. Blah blah blah sounds like a lot of complaining here, a lot of complaining and demand up. That's what i got.

I will read the earnings call later, but those are our initial previews from some of these companies that reported here in the morning uh. Oh, we do have one more though we've got uh 3m. No did we do 3m already? Oh, i think i pulled it up, but i don't think i actually read it. No, that can't be right.

I thought we looked at this. Oh whatever uh, oh yeah, yeah. That was the one without the significant litigation right. Okay, perfect! No! So that's good! Oh uh! Sherwin williams, that would be another one to do a quick look at and then we'll look at the charts, qqq down point six come on.

Man come on. We gon na have another yesterday where we go red the beginning of the day, and then we end up uh green, like largely green. At the end of the day, it's like start red and green. I like those days it's perfect for the buy the dip.

Okay. So sherwin-williams we get net sales 5 bill versus 4.9 bill expected. How do you sell five billion dollars of paint? How many paint buckets is that hey alexa five billion divided by thirty dollars? Sorry, i don't know that one. Why why alexa 5 billion divided by 30.

166 million, if, if they only sell, paint right 166 million gallons of paint in three months? That means in one month they sell 55 million gallons of paint? You go to the paint shop. You bike one gallon you're like oh, i got ta get all the paint to do a project. They sell 55 million. Basically of those that's crazy, no yeah! Obviously you could have five gallon drums as opposed to the single gallon ones and stuff like that.

But still it's just interesting to visualize the single ones. Okay, so uh forecast was 840 to 880 on eps uh, that's on! Well, that's non-adjusted! That's uh! Actually higher slightly higher than the estimate than consensus. Adjusted earnings declined while revenue rises, so probably the supply chain. Yeah.

First quarter, profit falls 9.5 on higher costs. Supply chain trouble may be past its worst part. Oh, this is quite interesting. Sherwin-Williams posted a 9.5 drop in first quarter in the first quarter's higher prices were unable to offset the increase in raw materials and other inflationary pressures.

The makers of paint and coatings reported a 7.4 increase in sales boosted by higher prices, cost inflation, choppy availability, raw material, hurt results added the availability of some materials needed to make the products had improved meaningfully. Oh that's really good! Oh. I love to hear that uh. Like because i just keep hearing bad news about supply chains in china, so we get some some good news.

Finally, i don't know write that one down there. We go shares up about four percent in pre-market. Okay, that's cool and let me look at this here: revenue company cited strong revenue, growth bolstered by performance for boasted by sales for performance coding group products. You know it makes me wonder if that's like, like epoxies or something like that: sherwin williams, performance coding, group, industrial coding, performance, coatings group - oh there, it is okay.

What what is that yeah? That's under the industrial section, so i'm still thinking like epoxies and stuff, but the stuff isn't loading well, we know it's under industrial, so, whatever okay and let's see, we believe we are through the worst of the industry, industry, supply, chain challenges and incremental or architectural capacity. We added last year positions us well for the upcoming painting season. Uh, that's interesting! That's basically talking about how, because we had so many supply chain issues in 2020 and 2021. Now people have added companies started adding capacity and it's actually reducing um the uh.

The potential supply chain issues entirely: oh interesting yeah, i guess industrial coatings could also be paint coatings. I've done paint coating stuff, i mean uh automotive finishes: industrial wood, coatings, protective marine coatings so for like boats, aerospace, coatings for like planes, packaging coatings who coats a package. I guess it'd be like tin cans or bottles or whatever metal containers, yeah metal like uh. Oh, like uh, like oh um, like cans of pepsi and coke uh.

That's interesting. I never thought about that before non-bpa epoxy platform, technology for food and beverage, cans like spam and and soda cans and stuff, how interesting, uh or or even like you go into like starbucks, and you get the like the metal things that have the designs on them. Cool okay, wow learn something new every day, so uh. Unless you don't try and you're boring, and you don't learn something new every day, then you're just boring.

Okay. So what else? Shadow of inflation hangs over corporate earnings? Yeah? Okay, home price appreciation accelerates once again. In 20 cities, oh yeah, we got home price numbers. Let's look at them.

Let's see the year over year, number you're over here, uh 20.2 from a year earlier up 18.9 from january. That means in the last three months, prices have actually accelerated uh with a year-over-year comparison, just nutty nutty all right. What else do we have uh? We got btc sitting at forty thousand two hundred back over forty thousand. That's nice still sitting under a hundred and cardano's under 90.

ethereum's under 3k. All right take a look at the pre-market here. Let us see what we have in the pre-market torsion: okay, so uh, oh holy crap, a redfin down 9.6. How like it? How do you fall nine percent when you're already at march of 2020 lows what the he double hockey sticks happen to the red of the fin uh redfin reports rents, climbing 17 redfin falls as piper cuts redfin to underweight on muted outlook, uh yeah, i mean the Biggest concern i personally have for redfin is the zillow effect remember when zillow almost probably went bankrupt on the whole uh ibuyer plan, where they're buying homes and trying to fix them up and flip them.

That's a big issue for me. You know to want to own a company like redfin, because you know if you own billions of dollars, you know four or five billion dollars worth of properties, and then you go into a uh, an era where home prices are falling. Well, like there goes your valuation, because now you're negative on a lot of these properties right. So that's dangerous, very interesting, though, that piper sandler reduced their price from 40 per share to 11..

That's also quite interesting because i sold redfin at 40.. I am, i cannot believe it's at 11 right now. Oh well, um! You need not wonder the golden hammer. Hd asks.

I wonder how crypto will do in a recession. You need not wonder it will do horribly uh. What what video do you want to know about real estate taxes, enfay ceo said this on the last call, we are quite optimistic that supply will catch up to demand during this year. Do you think this has changed? No, i think that would be a second half of the year.

In fact, i believe, if i remember correctly, they said the second half of the year in the earnings call though i also have their earnings called. We could just get a quick preview of that since they are reporting today and faith and face and face, got it and face supply, uh operation, global supply chain still under a lot of stress, diligent supply teams, blah blah blah our lead times are 14 to 16 Weeks, lead time, challenges uh, let's see price hikes. When do we expect it together? Oh look at this. I expect it to get better continuously throughout 2022.

Okay, so maybe not necessarily towards the end of the year just continuously and then price increases in march uh. That's good component shortages, supply chain constraints go away right, securing supply, no problems with asic supply right now, so we would be heavily ramping. The mix of iq8 versus iq7. That's because crypto prices have come down.

That's actually a good thing for that's actually bullish for end phase on earnings today the no asic supply issues, because they make some they make some nice dollas on those. No that's good, i'm actually optimistic. All right. We got about 10 seconds to go until the bell here.

Let's listen in here we go the self-inflicted nature of the china, we're going to look back and say uh. This is china from the state department who lost china besides. That is what this story is going to be. If they don't fix it, it does appear to be self-inflicted by the way there are the opening valves and the cnbc real-time exchange on your screen here at the big board, the arbor day foundation celebrating its 50th anniversary.

I don't care about the arbor day foundation. Well, i mean maybe they're nice people. I don't know anything about anyway, uh, here's, your qqq, showing that sort of uh initial institutional cell pressure right there that we usually get right at the open. This is not a surprise at all.

In this market a tesla is is actually fractionally green. Here it looks like uh about 0.18 percent, and so we'll see what happens to qqq here so uh, okay, yeah. So, anyway, back to and phase that's actually kind of exciting about end phase. So i'm happy about that uh.

Looking at that earnings call from q4 leading into q1 if they don't have asic supply issues and they can crank these that's great uh. The problem is q1. Tends to be a little bit of a slower quarter for solar deployments anyway, so you know, but then again that could also be in expectations. Uh probably is then uh, let's see here, oh uh, jim cramer was just talking about china.

I wanted to add that china's really interesting okay, they they had since over the last two weeks, they've had three chances to lower their interest rates, their central bank, and they did not they're, really not stimulating that. Much like everybody keeps saying. Oh, china's stimulating that's great, not really like not enough to actually get people to spend money. People are so concerned in china and i think it's because the people are really smart in china.

They they understand that their government is. You know, as these these huge desires to prove how one party control is, is so much better than democracy, but you know they also realize that, like you, think the numbers are cooked here. What about china uh? At the same time? There are also now rumors going around that uh, potentially tesla would have a 20 for one stock split, which is kind of wild, because if tesla had a 20 for one stock split uh, it would be about fifty dollars per share. That would make options kind of juicy, make it affordable to the retail investor, but uh, that's just a rumor right now.

We don't know if that's true so tbd on that all right, let's see here, oh qqq, just took the pooper and uh tesla just fell uh about half percent as well. There whirlpool it's up eight percent. They didn't actually do that great yesterday uh, but i think the the buybacks uh were uh yeah, i'm pretty sure they missed by like four percent on fiscal year guide but they're doing all those buybacks. So, who knows maybe they're they're starting some buybacks here in the am but yeah you've got uh.

You've got a nice little rotation here to the uh to the dark side. Look at that! It's it's just getting worse! Qqq! Now, down about 1.15 tesla down now about 0.7 and phase down 1.6 matterport under six dollars, uh trade deaths dropping about three percent, giving back yesterday's a firm drop in. What do we got over here? Uh on the upside restoration hardware, up five percent dutch bros up three percent ubiquity i'll tell you. Ubiquity has actually been a pretty good store of value.

It's been stuck around 300 forever throughout all this madness. Whoever's hobbling ubiquity is hardling ubiquity very interesting, so hippo holdings is up old insurance play, but uh towards the dark side over here, yeah that red fin on the price target cut eight percent to the downside. It's actually pulling zillow down with it four dollars or four point: six six percent followed by uh roku at about 4.6 rivien. There were some articles yesterday about rivian and like potential bankruptcy like oh my gosh drama.

Anyway, let's watch the qqq as things evaporate a little bit here and a quick peek too, on btc yeah btc kind of been range bound here for a bit. Let's go to the minute chart, though yeah dropping with the open as well, not uh, not terribly uncommon. To see uh btc sort of mirror what uh the indicy uh indices do okie dokie. So right now, we've got 10 2 spread still sitting at five-year break even lowering again now 3.24 on market expectations of inflation falling, which is very good oils up about 1.6 to 1.7 percent, with wti back over a hundred brent at 104 bonds.

Ah, down again: oh my gosh wow, that's actually a big drop there on bonds, uh on on yields you're now at the 10 year sitting at 2.74. This is substantially down from that three. Essentially, three percent tenure that we've seen we're now almost 26 basis points. Under that three percent level.

It could be a temporary flight to safety and sort of short, covering short squeezing that you're seeing in the bond market but uh. You know you can't really blame it. When the qqq just decides to fall, 1.2 percent twitter decides to fall 1.8 and tesla decides to fall. One point two: five percent on wee baby institutions dump and dump and dumping.

Okay ups does not see any downward pressure on pricing domestic package volume to decline in the first half of 2022 compared to the first half of 2021 uh. Let's see, let's listen to jimbo he's talking about yields, it looks like global spending is up across the board. It's coming from europe yeah coming from the u.s and it follows a cycle where it's been lower unusually yeah the last year. So yes, what do you think of that raytheon quarter i mean.

Did you see the the i mean that area? Oh, that's! The casting issue. He's talking about, i don't know why jim's getting all caught up on that uh, but whatever okay. So what else we got? Oh didn't hsbc report, let's see hms. That would be very interesting.

Let's see here maybe get some looks into the chinese consumer too. Uh yeah. We've got some info here: okay cool! So let's look at hsbc together, oh yeah! Here we go okay, so hsbc pre-tax 4.17 bill versus 3.72 expected revenue came in, so bottom line was good. Uh revenue came in at a slight miss 12.55 versus 12.75 expected we've got ukraine.

War has exacerbated inflationary pressures. We already knew that sees wealth business recovering when restrictions are lifted. On covid continuing to expect rates of 10 in 2023. That's for china, um, potentially paying a dividend.

Revenue outlook remains positive. We remain big china bulls, but we will see a slowdown in china in the coming quarters. China, housing liquidity issues are beginning to ease. Oh, that's actually good news uh to see housing maybe settle down a little bit yeah.

A lot of the cities in in china are doing like these special incentives to get home buyers into homes and people who who aren't buying they're, trying to convince to basically buy investment bank will outperform in 2022 labor costs, uh or high. What else yeah bank profit slips by 35 as russia, ukraine conflict hits. Let's see here anything else nope. It seems like they're bullish on china with some relaxation and spend expected this year, but still bullish all right all right see what else the uh suits are saying.

Look at that we did not fall on the qqq as low as uh. Yesterday now uh very, very common, the first five to ten minutes to see this kind of red. I've honestly stopped caring about what the sticks are doing so much in the am mostly, and i mean i do want to know, what's going on. That's why i love you know covering covering the news and such, but the point is you've seen such such like unpredictability in the first two hours of the day in terms of how the day is actually going to turn out that's kind of wild okay.

So, let's see here, let's see sherwin-williams surging in pre-market as significant pricing actions previously announced in all. Businesses have yet have not yet fully caught up to elevated raw material costs and basically more price hikes are coming. Okay. Oh, there goes that qqq right back to the bottom.

It's like just just when you thought you were out. I pulled you right back down. Yeah sure wins up about eight point. Four percent here, probably uh a scene, as is a little bit of an inflationary hedge as well durable, suggest, capex, continuing okay, finding venture capital in crypto is all fomo uh yeah inflation will curb european stock recovery.

Okay, a lot to talk about inflation. Today, persistent lockdowns in china, yeah, that's that's where you know what? Oh that's a terrible tweet, but it's i i don't know what do you? What do you think the chinese lockdowns are transitory? Something, don't worry, don't worry. China's lockdown is transitory. It's terrible: okay, so uh qqq, now down uh one and a third tesla down one and two thirds all right.

So we did earnings. We did that. Let's see what else we have yeah a lot of uh people like elizabeth warren, complaining about elon musk buying twitter. Oh now, rich people are controlling communication platforms, like so exhausting uh.

Let's see, we've talked about the electric corvette yesterday and that was kind of neat uh. Although uh, they were pretty clear about uh making sure everybody knew that don't worry, they'll still have a gas version, boring sherwin williams, now up nine percent as uh everything else is kind of trickling down a little bit all right. Let's see here just never go to china and you'll. Be fine, says someone here: okay, uh, so much weight was put on.

Ups earnings was the beat enough to change market sentiment. No package is down. Price is up kind of not what you want to hear right. Yeah exactly i've talked about the 20 for one split with tesla.

The rumors of that saw chat comments about buckets and barrels, so i had well welcome. That's enjoy! That's awesome. Why don't you leave in robin hood? Well, it's not a matter of believing in robin hood. It's that uh brokerage revenue.

I expect really to decline. Uh substantially, yeah as as less you know, as you're in a poopy stock market, less people are just interested in the stock market. It's just like uh. Whatever you know, people just tune out, uh the stock market and unfortunately, that lowers brokerage revenue, makes it harder to attract new customers.

It's like when you, when you have a down stock market, you know that's. When people are like ew, why would you invest in the stock market? That's a gamble. You know that kind of stuff uh, it's kind of entertaining uh anyway. Look at that tesla 9.75 right now, down 2.2 percent looks like we're just kind of continuing to uh.

Droppity drop here all right: let's see what we got on the cns bc's, our relatively new ceo and his team, i think, are - are doing all the right things to position this company to lead in innovation, to really be at the forefront of precision health. We're going to be able to do that in a way that not only drives the top line, but translates into good bottom line and cash performance. So i i think this is a company that people will be excited about. I'm excited about my role.

Going forward is non-executive chair, so we need a little bit of time. This is too boring. Uh, let's see what dwack's up to and uh. Yes, how to eat is a uh play on btc for the person wondering okay, hudson uh dwack's? Actually up 5.6 right now.

Yesterday it was down 12.9 percent. All right. Let's explore some of the others here. So red fan tiny recovery there, but still down six percent roblox down another five percent nancy pelosi's husband has hundred dollar calls on this sucker uh calls have just gotten wrecked in this market.

I i'm not immune to that. I've also gotten some calls that are just but that's: okay, larger positions, doing okay, even though we're red uh on the day here. What do we got beyond me? Four percent look at beyond meets price 37 dollars, gee whiz, oh my gosh, wow wow. This is so weird to look at look at this beyond mead.

Had this channel over here between 121 and 140.. Oh, you can't see it. The me had a channel for uh between 120 and 140 for the longest time. Uh really uh started in about uh february of 2020, as people got really uh excited about this, but look at that now you're down to 35.

That's insane man! Oh look at that downtrend on uh norwegian cruise lines. I can't even call it a wedge. It just looks like a looks like a downtrend to me: visa 205.. The stocks don't want to move anywhere.

Uh costco was one that had been moving, though, did they we get over 600. Oh whoa costco just dumped a little bit how fascinating yeah it ran over 600 and then dumped a little bit. Oh, i'm gon na keep an eye on costco uh tesla's, now down almost through nope down three percent right now, google down two point: three percent nasdaq down 1.6. The pain is real uh.

What is it yes? Ups? Google wow. I can't believe costco has come down that much that's why that's 10 off the highs! Now people were kind of fleeing to costco. I thought it was kind of a fad. I never bought any, but i wanted to, but i hate buying stuff when it's up like i like the pain uh for acquiring okay.

So let's see what else is going on here, why? Why is qqq falling? No just talk about treasuries. That's no fun! Nasdaq is now has now exceeded the the collapse or fall sort of with the others. You have dow down about point. Eight s p down just under one percent point: nine, seven uh! All of these were down about a half percent in pre-market, but the nasdaq's now tripled that decline to one and a half percent and bond market 10 years still sitting at 2.74.

That's roughly where we left it. Okay, there's your nasdaq sitting at uh, 324.. Keep an eye on that and tesla now 966. tattooed chefs somebody wants to know about eight dollars and 45 cents right now, wow, it's just an evaporation that we've had so many different companies, i think so far - has gotten hit as well pretty hard and yeah six Dollars and 23 cents on sofa no end in sight on the declines, terrible all right.

What is this? Let's see this bear market has legs and it's looking for its next victim. If you're wondering who may be the next high-flying stock to succumb, it might be tesla. Oh great uh, somebody here writes, i know tesla beat on earnings last week and elon musk projected a bright future of car delivery. Still he can't fight a deteriorating macro environment and tesla stock is priced for perfection technology that says this individual here edward harrison writes for bloomberg.

Oh, so that's why you're making tesla fall or that's why tesla's, following maybe this person's article uh they're, comparing to the battering of facebook and netflix, losing 35 percent of their values, pretty quick, nvidia and tesla would be next. They suggest - let's see nvidia's already down about 40 and tesla is the one to watch having fallen by about 20 percent from its peak in november. Investors in the stock were clearly disappointed by news that is sealed a deal by twitter. I didn't really think that was so terribly disappointing, but okay, because it was only it was down like what point seven percent yesterday it doesn't seem like a big deal.

This will be the fourth company, including boeing and spacex vying for musk's attention. Oh, the attention split, blah blah blah blah all right and then, of course, they put in a little quote: it's funny how they here, they've got a bloomberg article. This whole discussion about how they think tesla's gon na fall and then at the end they write quote of the week kathy wood. Our confidence in tesla has grown.

Meanwhile kathy's actually been selling tesla uh. It could be. You know a rebalancing thing just because so many of the other companies are still falling uh quite hard. I think yesterday here i pull up her actions.

Yesterday, i don't ever it's almost daily that i see kathy dumping tesla all right so april, 25th. Dumped 6, 800. 1400 uh shares of tesla, then not on friday on thursday sold sixty seven thousand fourteen thousand eleven thousand of tesla a lot of shares on 420 420 and 421 sold 67 000 shares of tesla geez anyway. That was just over the last few days here and then the money seems to be going into roku, shopify, coinbase, zoom, roblox ugh.

All right well, we'll see kathy. You shall see all right qqq still in the pain 1.65 to the downside straight down this morning. I suppose it'd be interesting to compare to yesterday. This was yesterday.

It was that's right. We were sort of like more bar coding yesterday than we were kind of going straight down like today is just straight down all right: okay, u.s stocks fall after gloomy earnings, forecast, u.s equities declined at the start of a busy week for corporate earnings, as investors are Closely watching the results for insights on the effect of inflation and consumer spending, s p nasdaq slipped more than one percent treasuries rose. Corporate earnings are providing some solace for equity bulls. Close to 80 percent of firms have beaten profit expectations, including ge ups pepsi.

However, disappointing earnings forecasts, including those from jetblue, are weighing on shares results from microsoft. Google and visa are still to come this week, yeah. Let's look at the earnings we're gon na have later today, uh somebody's wondering if kathy's just rebalancing or if there are outflows. I can find out uh, i mean it's tough to tell she's probably been it looks to me like she's had more outflows since about the middle of march, so that could be one of the reasons yeah.

I would say a lot more outflows since march 17th than inflows, but before that she was having more inflows so yeah, probably okay. So later today we have microsoft, google, gm chipotle, visa and phase texas instruments; quantum scape wow. That's a big earning sesh microsoft, google, gm chipotle, visa enfaze, that's a big boy and then wednesday we get boeing, spotify, t-mobile, harley-davidson five serve that'll, be interesting for consumer spending, craft heinz ford, facebook, paypal, qualcomm, pinterest, tdoc, servicenow, upwork, hertz, mattel, las vegas sands, cheesecake factory. My gosh, this netgear, this week's gon na be fun or it'll, just be like that, where the nasdaq keeps falling.

Oh a tesla at 9, 48 right now. Look at that. The bloomberg article has destroyed tesla five percent zoom see look at that increasing volume too. Oh, my gosh zoom yeah zoom down five percent as well.

Oh, how entertaining very entertaining not really uh anyway. Okay! So, let's see top okay. What else do we have? Nato would be stronger with finland and sweden. Oh yeah, just what we need more drama for russia.

Oh, we can also see a little bit of the latest from this morning on russia, ukraine, defense secretary austin, declared monday at the end of a stealth visit to ukraine. That america's goal is to see russia so weakened that it would no longer have power to invade a neighboring state. Wow president biden entered the war, insisted that he did not want to make this a contest between the us and russia, rather was simply helping a stroll. Small struggling democracy committed to keep american troops out of fight resisted the no-fly zone, yet russian war atrocities have become more evident and ukraine's need for heavy armor has increased and the lions have gone grown.

Blurrier uh mr austin's declaration, russia, the u.s, wants to see russia weaken to the point where it can't do things like invade ukraine, wow well, their economy's, probably hitting that yeah almost down two percent on the qqq come on. Give it give me zero percent. Will ya? Don't hold back market give us some more pain, the reverse psychology uh anyway uh, let's see, uncleared ukraine's railways and other infrastructure are important for funneling western supplied weapons and aid to combat zones. Mr putin has said he does not consider ukraine a real country.

Russia is falling, ukraine is succeeding, says blinking. Okay, i mean that doesn't look like ukraine's winning it's kind of like. Even if you win you lose here, we go. We almost got the two percent on the qqq we asked for it.

I asked for it um all right what else i think that about covers everything that we've got. Let's see 3m cuts, 2022 profit outlook amid decline in mass demand, u.s ditches trump era policy for alaska oil reserve putin, ally, says ukraine is heading for collapse. In several states, poland sees growth slowing as ukraine war hits the economy. Well, that's also right next door.

Hmm, some people just refuse to leave it's quite interesting, like in rupal people stay they're like oh, i don't want to leave and then you know people get shot and murdered. It's terrible, very bad anyway, okay! Well, i think that about does it. So thanks so much for being here and watching me watch the candles drop qqq is now under 320. uh you've got tesla down almost six percent on the day after uh bloomberg.

Article just absolutely destroys the stock. Thanks bloomberg, jerks uh, you can see tesla heading down here, uh on the retracement uh might be hitting for that 38 to 905 right there qqq down now 1.94 as uh. You know, there's a little brief little pause there. Looking at some of the other stocks, we got roku down seven point: five percent roblox down seven percent redfin down seven percent matterport down 5.9 yeah.

It just sometimes makes you wonder like how can they keep going down, but they just do anyway, thanks for being here folks make sure to check out streamyard by going to mckevin.com streamyard, we'll see in the next one goodbye.