Stock market at the moment time: Shares cling to gains as Powell says payment cuts seemingly at ‘some point’ this year

Donna Smith alongside Brad Smith this is Yahoo finance's Flagship show the morning brief The Ultimate Guide to help investors make smarter decisions for their portfolio we're tracking early session volume while bringing today's top Market themes and elevating Yahoo finance's most popular newsletter that's right we've got a lot of ground to cover.

This Wednesday hump day morning stock futures they're drifting lower though into a sea of red this morning Market's heading for another day of losses in the rough start to the second quarter as federal reserves path for forward rate Cuts here it gets less clear as of right now and a fresh reading on the labor market this morning ADP out showing that.

184,000 jobs were added to the US economy last month it's the biggest jump that we've seen since July and also the latest sign that the labor market remained resilient so let's get right to it the three things that you need to know your road map for the trading day Yahoo finances Jen shamberger Madison Mills and Alexander Canal have.

More Futures lower this warning is stocks head for backto back losses and as bond yields head for their highest levels of this year as optimism for rate Cuts fade this even as Cleveland said president Loretta Meer and San Francisco fed president Mary Daly both said on Tuesday they still expect three rate Cuts this year while me says she needs.

To see further data to gain confidence inflation is indeed dropping she isn't ruling out a rate cut for June if the economy evolves as expected then in my view it will will be appropriate for the fomc to begin reducing the FED funds rate later this year so there's really no urgency to adjust the rate standing Pat as we sometimes call it is the right.

Policy for the moment we will hear from Federal Reserve chair J pal this afternoon and shares of timeon semiconductor manufacturing the world's largest maker of advanced chips are falling this morning the company forced to evacuate its staff and halt some chipm after powerful earthquake struck Taiwan it was the strongest Tremor to.

Hit the island in roughly 25 years semiconductors falling after that news this morning and Disney's ongoing proxy battle with activist investor Nelson pelts takes Center Stage the results of a shareholder vote to select board members are expected to be announced at the company's annual stockholders meeting today but Reuters reports that.

Enough votes have been cast as of Tuesday evening for Disney to safely defeat pelts some of the company's biggest institutional investors have backed its plan to secure the current that includes both Black Rock and Vanguard according to multiple reports well Futures are falling this.

Morning as the major indexes head for another day of declines a rough start to the second quarter in 2024 as investors are considering the fed's path towards rate Cuts as has strong economic data continues to come in Atlanta fed president bosk rapael bosk saying that this morning he sees only one rate cut this year occurring in the fourth.

Quarter joining us now to discuss the data we've received so far this week and what it's telling us about the path forward for rate hikes we've got our very own Josh Schaefer Josh what are we seeing Brad one cut that's different than what we've heard from a lot of other fed presidents right so far the FED speak this week has sort of.

Reiterated I would argue probably the three- cut narrative and probably a little bit more confidence in inflation data but maybe a cut actually in Q3 not Q4 of course bosk has been a little bit more hawkish so maybe not exactly shocking to hear that coming from him but overall I would say the data has showed us that the inflation concerns.

That people have are certainly there right when we think back to the January February inflation readings we had even that ISM print that we had earlier this week investors really seem to wax on to the prices paid part of that that came up also came up in the S&P Global pmis so you saw infl different versions of inflation measures come up I should note.

Though plenty of economists coming out and saying that those don't actually feed into pce or core PC so if you're one of those people that loves to talk about the fed's preferred inflation gauge and core PC then maybe that actually doesn't matter for that also what we're showing on your screen now we're showing the Manufacturing Index.

Expanding it got over 50 for the first time in a year and a half entering expansion mode and guys I think one of the broader takeaways I have from the data that this week including that JZ report would be the economy is still resilient and given the sticky signs of inflation that's a good thing because we have inflation at a sticky Point here so.

You know the fed's not going to want to cut you want the labor market to hold up and you want the manufacturing sector which has been in contraction for almost two years to start coming up that is a good story overall for the economy even if it pushes back your June rate cup prediction to July I don't think it matters that much it's better than.

Seeing something like a crazy soft jobs report on Friday it is obviously you always have to laugh at the fact that when when you see the markets cheer any weak economic data because it's kind of missing the broader picture of exactly what's to come maybe it could be good news here good news in the short term just in terms of the initial reaction.

But obviously longer term when you look down the road there could spell much uh larger problems than what we could potentially be dealing with today but JH Square what we're seeing here with the reaction that we've seen in the market and how much of that could possibly be an overreaction given the fact that the economy and the economic data that we've.

Seen once again it seems like up until this point remains resilient so we've essentially been talking on air for I guess we're three months in the year so I'll call it almost all three months outside of maybe the first week of trading of we need some sort of catalyst to bring us lower right what are we going to get what are we going to get.

And it seems like we finally got a little bit of something for people to lack on to if you wanted to sell if you owned one of these stocks that has just absolutely ripped to start the year maybe that's a time to get out of that position right and that's not a hard thing to really see here and sort of understand you've all seen the tenure.

Rip though like the tenure is up to its highest level since November I I think you could debate sort of what's driving that is it strong economic data is it inflation expectations is it worries about the FED is it just overall the government debt situ like there are a lot of things that can move the 10year and I thought wizan Saunders on air.

Yesterday put that in good perspective saying this isn't just a hot inflation reading in Manufacturing Index and the tenure spikes that does not do that and so overall that is not really how necessarily I would sort of dumb that down but I would argue when you see the tenure go up 12 basis points in a day anyone that has followed the stock.

Market over the last year should not be surprised to see equities down that has been the trade and so if we're going to keep seeing the 10e pushing higher creeping higher some investors are going to start to get worried there I think yeah it's going to be a larger question especially going into Friday's uh employment situation print as well how.

Investors continue to evaluate this I mean we've got essentially the employment situation week if you want to call it that jolts yesterday today ADP I we were we were in the we were in the makeup room Josh sitting there listening into the ADP call been a busy week for him right for those of you who are tracking paychecks out there we got that.

Too on the small business side this morning uh just look anywhere you look you got it so we got to let you go we got a lot of work to do let's go write some stories let's go write some stories Josh thanks so much let's talk a little bit more about some of the moves that we're seeing here because Futures once again pointing lower this morning looks.

Like we're going to see losses at the open now this move to the downside coming after several fed officials struck a hawkish tone this week just this morning Atlanta fed president Rafael bosk saying that he only sees one rate cut in the fourth quarter this year this coming after San Francisco fed president Mary Daly saying quote the.

Labor market is still going strong and growth is going strong so there's really no urgency to adjust the rate Cleveland fed president Loretta Meer also weighing in and echoing a similar stance to what we just heard from daily saying that she still sees rate Cuts this year but reiterated once again that the FED isn't in a rush so let's make sense of what.

This means for you the investor out there we want to bring in Megan hornman verin's Capital advisor Chief investment officer Megan it's great to see you again so how are you looking at the moves this downward move that we've seen in the market over the last two days and what that signals uh could be ahead here for.

Investors well we're actually looking at is the the Market's getting a little bit more realistic as far as what the FED can do this year now coming into this year we thought that March was a way too optimistic as far as rate cuts um even June at this point is is a bit optimistic we've always leaned towards the fact that it would be a second half.

Of the Year story so I think markets are adjusting to this remember valuations had risen So High um in the expectations that the FED would cut rates and now they're just trying to reset um with this new interest rate expectation what is the new expectation from your purview Megan we still think it's a second half of the Year story um we're we're getting.

A little bit more concerned here um with what's going on in the market specifically in the commodity Market what that may mean for inflation um in the labor market we have we started to see some cracks um in the labor market but when you're looking at Wages that's what the fed's worried about and wages continue to be something that it is.

Creates a problem for the FED um if you look at the ADP report today and you take out those people that left their jobs willingly their wage increases were 10% um this is the type of stuff that should filter into those wage numbers and that's going to create that sticky situation the fed's worried about yeah Megan how much more complicated is this.

Going to make it for the FED because you have that that on one hand one side of it obviously could potentially Drive inflation make inflation even more sticky and then also like you mentioned before this move higher that we've seen in a number of Commodities I think it makes the job very difficult and I think that they.

Have to articulate that part of what we've seen in the past few months with the resiliency in the economy really stems from Jerome pal taking such a dobish stance at the end of last year it created a kind of a Resurgence in the economy and we've often said it's a very dangerous line they're walking because the Resurgence in the economy can very.

Easily lead to a resurgen in inflation they don't want to get in this stopandgo monetary policy that they were in in the 70s and 80s and we don't want to see that either it wasn't good for the economy it wasn't good for the stock market so they really need to articulate to markets to reset expectations they're not going to cut rates in anytime soon.

They'll continue to assess the economic data and it looks more like a second half of the Year story all that in all that in mind uh as of right now where are the biggest opportunities that you're sensing in the market right now well what we've done um actually just as recently as last month is we took a look at our Equity allocation.

Where had we run up as far as our tactical allocation versus where we should be strategically so we rebalance portfolios and that's something we did it in good timing I think people can still look at that especially with some of the growth areas of the market that remain elevated make sure you're in line with your with what where you should be.

From a tactical allocation we're still okay with holding some cash especially given our view that rate cuts are not necessarily in the immediate future cash is not hurting you cash is there to have extra liquidity to look for opportunities we're looking at opportunities also in the small and midcap space and right now I think from.

A fundamental standpoint earnings are still uncertain they're still in an earnings recession and could see some more downside if the economy starts to roll over but small and Mig caps from valuation perspective look attractive Meg what is your assessment right now just in terms of the risk up until this point that we could see the economy roll.

Over because we got the ADP report out this morning once again showing that the economy remains resilient do you expect that picture to deteriorate at all in the coming months I do think that this summer and um leading into the second half of this year is going to be challenging the job Market's been resilient we're not going.

To deny that um that's been supporting the economy consumers continue to spend that's been supporting the economy but both of those factors specifically the consumer the consumer is stretched credit card debt is very high delinquencies are rising these are things that I think will start to are will start to pull back some of the.

Consumer spending as we head into the second half of next year and that can impact the economy all right Megan hornman verin's Capital advisers Chief investment officer thanks so much thank you the strongest earthquake in 25 years hitting Taiwan today leaving at least nine dead and hundreds injured.

Triggering a tsunami warning across the region now Taiwan semiconductor one of the businesses there that halted some chipm and evacuated plants raising some concerns about the potential disruption when you take a look at the business impact the disruption to the Global Tech Supply Chain tsmc is the main contract chipmaker to Apple and Nvidia here to.

Break this all down what that could potentially mean for investors here is Maddie Mills Maddie well this is an important kind of wakeup call and that's what some of my sources are saying this morning about why you don't want to have the world's technology relying on just one region and we've obviously seen some pushes from the US in particular with.

The chips act to try and move production to a domestic level but we have not seen that yet and that is because of the very unique conditions that are required for chips production and that's why some analysts this morning saying from Barclays in particular it's very difficult to have such a delicate product being produced in a region that.

Is very prone to some of these natural disasters and that is why we don't know the extent yet uh to which this is going to impact Chip's production but barlay is saying that in their conversations with tsmc this morning there's an estimate of a $60 million hit to tsmc's second quarter earnings I just want to point out as a area of comparison and.

Context that last week we saw that Carnival announced a $10 million hit to their earnings off of the bridge claps and we saw that really Weighing on the stock so I wouldn't be surprised if we see a similar move in tsmc today we're seeing that stock down a little close to 1 and a half% here having said that though some other analysts reaction.

We're hearing from cities saying that the impact operations should be manageable Jeffrey is saying that the downside should be limited but I think it's just the broader picture of the concern that you have when the global economy is relying on one region again very prone to natural disasters like this one continuing to have these.

Struggles come up with uh chips production which so much of the world and the biggest companies that we cover all the time do do rely on and so an outage and a stoppage and of course you know so many worldwide thoughts are with those that are impacted by this earthquake you know even as we think about the larger ramifications that you.

Were breaking down as well companies like apple companies who produce smartphones companies who produce these mobile pieces of technology that rely on these chips as well is it clear what type of broader ification that a stoppage for at least a near-term period of time could have on some of those future plans it's not fully clear yet we.

Know from spokes people from tsmc and I've reached out to confirm I haven't heard back from them yet they've said that the halting to operations was limited and it was just kind of standard procedure of what you do when something like this happens on the ground and that they should be able to get back pretty quickly but again given that a lot of.

These chips that are in production are monitored for 24 hours any halt to that could have a larger impact so I'm still reaching out and waiting to get confirmation about the degree of that impact and how widespread that could be but uh certainly I think the $60 Million number that we have from Barclays is something to to watch heading into.

Second quarter earnings abolutely uh a development that will continue to monitor for our viewers out there as well mad thanks so much for breaking this down for us this morning Switching gears everyone Disney will reportedly come out on top in its boardroom battle against activist investor Nelson pelts after securing enough shareholder votes.

According to Reuters Yahoo finances Alexander Canal here with the breakdown on all things House of Mouse yeah Brad so we're in the final hours of this proxy battle like you said it looks like Disney has come out on top but even Reuters said it's very possible that shareholders could switch their vote at the last minute so nothing is final.

Nothing is determined until we hear from Disney at that shareholder meeting later this afternoon and although the company has a fair amount of individual retail investors roughly between 30 to 40% it's really going to come down to those institutional shareholders they have the most pull and they're going to have the most impact on this vote Vanguard Black.

Rock and State Street these are the three largest shareholders of Disney according to the Wall Street Journal Black Rock has voted in favor of Disney's current board reuter saying that Vanguard has done the same the position of State Street is still unknown but that's really crucial considering how influential uh these.

Shareholders have um and their influence on the board now I will say even if Disney does win this battle they still have a lot of work to do in order to win the war the spotlight it's going to be even more heavily placed on this board I don't think Nelson pelts is going away anytime soon I mean this proxy fight it cost millions of dollars Disney.

Reportedly spent 40 million on the fight uh Nelson pelts 25 million Blackwells Capital another activist investor 6 million the the the videos the press releases the letters I mean this even people that aren't shareholders of Disney know this is happening know this is going on alarm Martin for Needum she had a not out saying that shareholders.

Have benefited from this proxy fight she believes try and Blackwells have added urgency to Disney's turnaround plan and she added quote since we believe the vote will be close Disney will remain Under Pressure to drive shareholder upside going forward and if you take a look at the stock price we've we've definitely outperformed the stock is up.

More than 30% since the start of the year was the best Dow performer in the first quarter and a lot of that had to do with the the announcements that Disney made as they were pressured by these activists yeah and so Al that kind of brings me to my question is there enough or what's the feeling out there about what would be enough to Plate.

Nelson pelts because like you said Iger has taken some aggressive action he announced a joint venture with Warner Brothers Discovery and with FOX also the investment in Epic Games is that do we know if that is at all just in terms of what Nelson pelts wants to see yeah and it's interesting because Nelson pelts launched this battle before remember.

Year and then he backed off when Disney did have several restructurings they had layoffs they reinstated the dividend but it doesn't seem like he's willing to let go of this fight at the current moment it seems like succession is a really big thing that Nelson pelts and his backers have really hung their hat on when we think about this proxy fight uh that of.

Course coming after the disaster that was Bob chapek Nelson pelts really thinking that the board didn't do enough to push back against Iger didn't do enough to ensure that this was the right candidate for the job and that's why he wants a seat at the board I would not be surprised if he continues his activist campaign if he continues this fight uh.

Disney is certainly going to have to listen to what he has to say because he is this big and powerful voice uh but it'll be interesting to see moving forward how he handles this if he does in fact lose that board seat something we will be uh we will be and you especially be tracking very closely today right allly thanks so much thank.

You Brad over to you what do you have hey we've got a lot more on morning brief on Dex shaa and even more after that later this hour Wells Fargo lists Amazon as a top pick in mega cap Tech the analyst behind that call will tell us why now is a good time from their perspective to buy the stock plus we reached the finale of the Disney and.

Nelson Pelt boardroom battle the brewhaha we'll speak to a former Disney executive about where the company could be headed next and later on Yahoo finance live our brand new show wealth we died into the business of vending machines plus we speak to someone who said goodbye to his 9 to5 now making upwards of six figures by getting into.

That very business there and we've got much more here on Yahoo finance after this short break more imminently.

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Time now for today's stock to watch Intel shares falling premarket after reporting a $7 billion loss in 2023 for its chip manufacturing business wider than the $5.2 billion loss it reported in 2022 you're taking a look at the shares of INTC down by a little bit more than 5% here there was actually one specific stanza within the Intel frry.

Part of this announcement and this disclosure that the company put forward that I put brackets around and it was a couple sentences long but I'll truncate it down to 1 sentence here the operating losses for their Foundry business they're expected to Peak in 2024 so we could be potentially looking at Peak losses for The Foundry business they got.

To complete that five node in four years Journey we discussed nodes before we're not going to go back go go and find the the episode where we talked about it uh the company is also driving for Intel Foundry to achieve Break Even operating margins midway between now and the end of 2030 that's like what 2027 that we're not going to see those Break Even.

Margins until I don't know that's just rough math in my head you can see what's highlighted on my screen because I had that exact couple L highlighted yeah it stuck out to me because I think that really tells the picture there you go same same wavel but it really tells the story about Intel right now where they are within this CHP race and what.

Exactly those returns are going to look like over the next several years and why investors should be a little bit worried when they give projections that are so far in the future but Pat elinger he was trying to come some of those fears on the calling saying that Intel Foundry is going to drive considerable earnings growth for Intel overtime 2024 is the.

TRU for Foundry operating for Foundry operating losses so again they're targeting 40% adjusted gross margins at Intel Foundry they're targeting 30% adjusted Intel margins at The Foundry here going forward Now intel product targets 60% non-gaap gross margin at the end of 2030 so again those projections pushed out many years longer than what I.

Think many investors would have wanted to hear wanted to see there and obviously that could spell some trouble here for investors at least in the short term all right well let's get to another stock that's under some pressure and that's Tesla shares down once again this morning Wall Street becoming a bit more bearish on the EV company gugenheim and.

Truist both cutting their price Targets this morning now this coming on the heels have a big first quarter of deliveries and production Miss so far this year the stock down over 30% among the worst performers within the S&P a number of reasons that gugenheim laid out they said that they that they are far more confident in negative Catalyst.

Such as those year-over-year declines in delivery structural risks to the China to the China Outlook and also risks posed by the current political cycle which I thought was interesting to bring up as well and these two teams here gugenheim and Tru is far from the only ones that are raising some concerns Dan IES over at WB Bush was out with a note.

Yesterday highlighting some of the concerns that he has for Tesla in the near- term and that the pressure is on Elon must to turn it around yeah you took gugenheim I'll take truest here they as you were just seeing on the screen still at a hold here but the price Target lowering from $193 to $176 they're saying that the next.

Catalysts would be the unveiling and sale of the next gen vehicle the one that essentially looks like Casper the Friendly Ghost right now just has that that sheet cloth over top of it at this juncture so we're waiting to see what that will be could not be uh or could possibly not be a near-term event they go on to note as well within this um I.

Don't know based on what the silhouette looked like underneath of that cloak even it's seems like it might be leaning towards a Jeep style vehicle I don't know I'm just throwing things out there that well that's with the silhouette underneath of the underneath the sheets look like 300 thread count it look like um this combined with their proprietary.

Average selling price analysis they mentioned lead them to reduce their annual unit delivery revenue and EPS estimates for calendar year 2024 and 2025 we'll see what that new vehicle look like you're looking at I'm looking it up yeah a little bit different but yeah I I could see the similarities cool all right we just minutes away from the.

Opening bell on Wall Street we'll take a look at some of the day's biggest movers again you're looking at features pointing to losses here at the open Dow looking to to open off just about a tenth of a percent we'll be right back.

up Bing Bong all right opening bell has struck here on Wall Street and in Midtown Manhattan where you've got a.

Live view of the NASDAQ financial literacy month here in April that's what we're celebrating all month long here I don't know why we gave it one of the shorter months but hey nonetheless here we are celebrating and they've got some celebration and a lot of green on the floor of the NYSC let's see if some of that can transpire on over to these.

Major averages my gosh Sal ventum ringing the opening bell there to start today all right let's take a look at where we are opening up because Brad we are once again seeing a lot of red here on the screen I was actually vacation this week and I come back and the still continuation of of the declines that we saw on Monday and Tuesday so let's talk.

About what we are seeing here for the Dow and the S&B again a move lower here NASDAQ off just about 410 of a percent take a look at the three-day chart that's going back to the start of the week you can certainly see that downward decline here within the market here taking a look at the NASDAQ Composite as well as we'll let you finish that yeah.

This was when shaa was at the beach that was me exactly that's why I always got to show up to work here all right let's take a look at the NASDAQ not good for my future vacation days I guess all right the NASDAQ composit also off just over 1% in the last 3 days and taking a look at the sector heat map here Brad and take a look at some of the movement.

That we're seeing on the screen let's pull up the sector action and a bit of a mixed picture here today yeah energy right now leading the pack it's up by about 4 tens of perc bringing out the Caboose there you got technology a lot of concerns at least as of right now a few things in focus of course we were talking chips a little bit earlier on.

The day we've seen a little bit of slippage in technology to start off this second quarter as well let's take a look at the past 3 days here just to give folks a view here down by about 1.1% over that span we were just clinging on to some of those gains are trying to but yesterday's trading session wiped that out and so ultimately we'll see where.

Technology continues to move forward speaking of Technology let's just briefly take a look at the NASDAQ the tech heavy average here the NASDAQ 100 you're seeing a lot of red here on the screen Microsoft Nvidia Google and Amazon all of those in the Red Apple trying to make up its mind right now meta though holding on to gain up just.

About one % all right well let's continue our coverage of the opening bell on Wall Street Jared blicker standing by in The Newsroom with a closer look at the movement that we've seen in Commodities Jared yes Lots going on here let's take a look at the Commodities heat map on the Wi-Fi interactive behind me Silver in the.

Upper left that is the number one returner that finally broke out of a trading range so let's start with that first then we'll move on to Gold um this is a three-day chart so this is really when we saw that breakout that was yesterday but let me give you a three-year view so we can see five so we can see uh the pandemic highs which were.

Actually the all-time highs right around $30 so that's going to be a huge level 28 to 30 is a big range but we just broke above what had been prior resistance now we got these all-time highs just a little bit above um and so we'll have to see 30 is really the uh kind of the uh Line in the Sand here for silver now I want to go to gold as well.

Now GC equals F that's up half a percent today here is a 5-year view as well now we have just broken out of a longterm inverse Head and Shoulders pattern so there is a neckline we punched above late last year and now we are accelerating uh just given the length of this consolidation four five years we would expect a lot of upside momentum.

From here and that's what we're seeing what's really interesting is that this has happened over the last few days we've had a lot of acceleration in gold and silver against a backdrop of raising rates uh gold typically doesn't like higher rates so there's a lot going on internally in the gold market uh that I think speaks as to its strength so.

Independent of these external factors of macro forces of interest rates gold and precious metals really heading higher here all right Jared thanks so much we'll continue to track that very closely let's also take a look at big Tech going back to what we saw on the equity side here at the open once again moving to the downside continuing that.

Recent slide now Mega cap Tech names like Google meta Nvidia Microsoft Amazon drove 43% of the S&P 500 gains in the first first quarter of this year this is according to Yahoo finance calculations so we're seeing a bit of a reversal here at the start of April can they keep up that momentum through the second quarter doesn't look like it so far we want to.

Bring Ken gelski he's Wells Fargo senior analyst Ken let's just take a step back what is your outlook here when it comes to Big Tech following that massive runup that we saw not only in the first quarter but going back to what we saw in 2023 right thank you so much for having me um so we we're certainly most positive on on Amazon of the of the big.

Three but we also recommend uh meta but and we see really strong fundamental Trends here and I would say it there are certainly pockets of the market where valuations look a bit stretched but I I I would say that's not so much the case in these three and so we um but we we prefer the fundamentals certainly in Amazon uh our top pick uh and meta.

Relative to Google Ken I I wonder you know in how you're looking across some of the themes that were really drivers for the largest names in Tech where those themes either remain strong or where you're starting to see some weakness sure absolutely maybe let's start first with Amazon uh 2023 was about an inflection in their business in.

The two business lines uh they have the retail business where it was really a a margin inflection uh recall in 20 2022 margins went negative uh it was an unprofitable retail business and inflected to the positive in 2023 that continues uh into 24 and and Beyond and advertising has been a strong driver that but they're also making many.

Fundamental improvements in logistics capabilities and efficiencies uh so we we expect margins to continue to inflect higher um at in the retail business the second business which is AWS the their Cloud business that was also an inflection in 2023 but that inflection was there after a steep decline of growth uh from 2022 to 2023 the business.

Bottomed at 12% um in in the middle of the year and we we saw a slight uptick in the fourth quarter to 133% and we expect that acceleration to continue starting in the first quarter with a plus 15 and exit the year at a higher rate in the High Teens so okay compare that to what you're seeing play out over at meta one of your other stocks that.

You have an overweight rating on you did recently just reduce your price Target there what does that upside look like then for meta the Catalyst that's that's going to drive that movement yeah so So Meta has been a fantastic performer and I'd say um it's been really had really above uh kind of above Trend growth here and we expect above Trend again in the.

First quarter we raised our our numbers slightly and in the first quarter uh and we expect another quarter a strong guide in the second quarter um now the business will normalize from a growth rate perspective in the back half of the year we were thinking more like mid- teens keep in mind that's in a digital ad industry that's growing 12 to 133%.

For this year by our forecast so the business will certainly start to normalize growth the key for us uh with meta is thinking about that next product Catalyst that MX product cycle because we had uh reels which is their short video service um which was a headwind to revenues but it a positive for engagement and think of this as the comp.

To uh the comparable business to Tik tok's short videos service um they've had a ton of traction this is a business that's running more than a 20 billion run Revenue run right now and it's been it was a massive driver for 23 will continue into 24 but it's a Le it's a lessening contributor to growth we're looking for those next product Catalyst.

To drive above Trend growth in the back half into into 25 you know there's there's a common denominator of digital advertising as well can among your coverage Universe I wonder how you're evaluating where a potential economic downturn and the likelihood of that is also correlated to what we might see for ad spends from companies as well as they.

Look across their their expense profile yeah absolutely you have it right um advertising is an output sector right we uh you sell Goods or you buy in retailers buy inventory and then they advertise right so um we're advertising is an output sector so clearly we need to watch some of those inputs uh and there are certainly mix signs on the.

Consumer front I would say the way we ground our estimates is we really think about the the core of advertising um as as highly correlated of digital advertising highly correlated to e-commerce growth and we really are our goal is to kind of track those levels and so again we see low teens 12 to 13% growth this year a little a modest Dell.

Next year but we still see relatively healthy Trends but but it is for sure to your point is mixed you know you you see some weaker areas like food and beverage or some of the consumer product areas even travel is a bit mixed in terms of its marketing spend but in the core e-commerce categories and when we're seeing a lot of strength out of overseas.

Shippers uh those core Ecommerce categories continue to be quite healthy who's the weakest in the digital advertising landscape already right now Ken so um the weakest right now is anything in the in the brand world for sure right that that the old display business the you know the banner ad business that that business is really.

Weak right now but I would just you know and I would maybe take a step forward now now Google search has been a a very healthy business um it's it's a massive business 55% of Google revenues well in excess of 100% of operating profit in our our view uh that's a business that that has been losing share market share and really where it's been losing market.

Share is to this concept of retail media retail media uh think about advertising on Amazon uh on on Walmart and these transactional platforms these marketplaces um between 2019 and 2023 Google uh search lost four points of digital ad market share retail media picked up four points and that there's those that should come as no surprise.

Yeah I I feel like I just saw in the of course card providers escaping me uh as of right now but I just saw some media Network get launched here today by one of the traditional card players and that kind of speaks exactly to what you were talking about uh in terms of the media advertising as well here Ken thanks so much for taking the time here with us.

This morning really appreciate it Wells Fargo senior analyst thanks for having me certainly we got breaking news from Ford the automaker reporting first quarter Us sales of 500,000 Vehicles up 7% compared to a year ago the automaker also seen a big jump in EV sales that's up 60 or excuse me 86% on the year shares of Ford you're seeing that up by.

About 1.4% on this news of course it's been a week of different vehicle sales and delivery and production numbers coming forward Tesla big disappointment yesterday and then Additionally you had rivan out yesterday of course that's a fraction compared to the Behemoth like GM Ford Tesla yeah this these numbers.

Here from for kind of a continuation of what we saw in February when it comes to the outperformance of EVS I shouldn't necessarily say outperformance but the massive jump that we saw on a year-over-year basis once again consistent here within these numbers up 86% still the number two uh EV brand here within the us we know Ford has had.

To alter and scale back some of its EV plans or delay I should say uh given the fact that the uptake rate has not been nearly as quick as many as Ford and its competitors initially projected it would be so they've had made had to make some adjustments but but within this release they're remaining very upbeat just in terms of the demand that they're seeing.

Not only for the EV vehicles but also for their hybrid sales which in the first quarter that was up 42% sales of cars or Vehicles just over 38,000 now within this release Here Ford blue President Andrew Frick saying that the new F-150 will be a big play for the company here across gas across hybrid across the EV segments for their.

Business that along with the new ranger sales which are beginning in March I see that as a really big ey Catalyst here as the company moves through 2024 so there demand for gas engines hybrids are selling EV sales up dramatically in a year-over-year basis so again we're seeing a bit of a move here to the upside and the heels of these numbers up.

Just about 1% yeah 32k that Ranger could be looked at as a mass Market play for the pickup space coming up everyone we'll be speaking with a former Disney executive on the state of Disney as investors I the results of a proxy battle coming out later this afternoon that is after the break.

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investors are closely watching Disney shareholder meeting today results of the vote on CEO Bob iger's proxy battle with Nelson pelts is set to be released now reuter is reporting that Disney has enough shareholder votes as of Tuesday evening to put his board of directors head of its Challengers we want to bring.

In Lee cochrell he is a former Walt Disney World Resort Executive Vice President of Operations also leader leadership and management strategist Lee it's great to see you here so I'm curious just to get your perspective your view on what has played out over the last several months and what position this puts Bob Iger in it looks.

Like he will have enough votes at least to this point to fend off that pressure from Nelson pelts so where does that put us a couple of weeks from now yeah well I think uh everyone was disappointed with the stock going down that's all we heard about for a while and then uh uh this uh proxy fight uh I've watched all the videos and U that.

Pelts and rosula have done and I watched Bob and I've looked at the numbers it appears to me that uh they both want the same thing everybody wants a stock to go up of course and the main issue is fixing streaming uh the media business and uh I think Bob has that under control as far as he knows what to do now it'll be how you do.

It and can you get it done quick enough but uh uh I uh Disney people have a lot of faith in Bob Iger his ability as a good leader and a good manager and U so he creates the right environment for our teams at Walt Disney World the parks and uh I don't know much about the media business myself but obviously that is the main item is the U that I hear them.

Talking about is uh the streaming and that's a tough business right now getting into it and it hasn't settled down yet I mean they they're all tough businesses right whether it's looking at streaming and the profitability there or the future of ESPN or even the studi creativity and and creating something that's fresh for viewers that creates.

Even more merchandising opportunity or plays into the resorts experiences there where where you have the majority of your own professional experience and you used to work with Jay Rulo who is actually put been put forward by trian Partners as one of the potential board seats I wonder if you're still in communication with him where you think.

His vision May lie for what they're talking about at tryan about making sure that they've got $60 billion of capex and and getting digit High single digit operating income growth to ensure some of those returns yeah well I think Joe was uh he was mainly focused on the finances and he was a CFO and when he was in the.

Parks we did not see him that often uh as uh the parks were doing great so we didn't get very many visits uh uh I don't remember Jay giving any creative uh push for Disney Parks uh he he uh he was a focused on the business on the finances and uh and uh I haven't heard yet from him or um pelts any thoughts about what.

They would do you know I said earlier was talking to someone saying you know opinions are dime a dozen people want to come in and help you and especially when it's uh High finances involved and um I'm not sure I haven't heard of any strategy any tactics any uh any creative ideas uh that come from Jay so I'm not sure they're say the.

Right thing certainly that they want to help and they both say they support Bob Iger uh so uh not sure what the issue is at the bottom line maybe they believe they can do the analysis on the whole business better and come up with better Solutions and better strategy Lee what do you think the solution what do you think that strategy should look like.

Well I think the parks are on the right are doing fine the parks are you know the parks worldwide are is the number one vacation in the world and the parks do well the parks even today you know I live in Orlando and I get a lot of feedback from a lot of people and I go to the parks and they're doing a great job and uh the.

Customers are saying that I think there's two there's two two kinds of customers there's the ones who have stock and there's the ones who just come for the fun and for the magic and bring their kids and uh so I think the parks are doing fine I think they're on track I think they're doing well in uh in h France and uh in uh Anaheim and here in.

Orlando so uh it seems to be the media business is the is the problem you know the interesting thing about this too is that Nelson pelts try and they could probably if Disney implements even you know three fifths of what was put forward they could probably still try and take some type of Victory lap as to say hey we put forward these ideas and.

Now you're seeing them implemented at Disney and as long as it results in some positive price action for the shares then investors will be happy I mean what do you expect the the calculus around tryan doing this now twice in two years to be and if it will ultimately net out well for investors yeah I mean whether they get a.

Board seat or two or not which apparently it's getting down to them they might not I think they'll continue to stay focused on putting pressure on Disney and and trying to do an analysis of what the strategy should be and where it should go and what we should do and what we should sell and and uh how Capital dollars should be spent I'm sure.

You know with the amount of shares that they represent uh they're going to keep the pressure on to get the stock continuing to go up even though it's going up a lot and the just the last few weeks and I think that's probably from people having faith in Bob iger's approach Lee cochrell who is the former Walt Disney World Resort Executive Vice.

President of Operations and leadership and management strategy thanks so much for taking the time here today thanks guys absolutely talk to you we've got all your markets action ahead stay tuned you're watching Yahoo finance.

now DAV and Buster shares they are moving Higher by about 9 and a qu% after reporting a 6.3% jump in revenue from a year ago but the comp's comparable sales.

Fell for the fourth consecutive quarter dropping 7% from a year ago so despite the shares moving higher there's a lot to break down within this report one of the things that actually jumped out and this took place on the earnings call the company called this out still early Innings here but their ability to roll campaigns and promotions out across the.

Database of users who become the alliance share of their most profitable guests visiting more than 50% or 50% more frequently spending 15% more on each visit versus non- loyalty guests is having a material impact there also 500,000 members in their loyalty program people who just love to play games out there well yeah it's the best place I.

Love David bust the best one of it it is a fun place I don't know if I would say best but it's great you go there you have a lot of fun we had our Fantasy Football Draft there last year we have our fantasy football and it was great and had a lot of fun but I get this really points to the fact that so many of these analysts when you take a look.

At the jump that we're seeing in shares today not necessar L there is reason to take issue with the results that we just got out but it's more so about what we could see here with the guidance and the in their ability at least the confidence here from analyst their ability to navigate some of those headwinds at least in the short- term truest is one.

Of the teams coming out saying that margins contined to be solid they saw same store or store level margins to drive a majority of their margin expansion in fiscal year 2024 and they think that some of these some of these Trends are going to be enough to offset some of the near-term macroeconomic wins that was also echoed here by jeffre so.

I'm a big fan of David Busters I think when people are going out you talk a lot about the experience people are willing to go out and spend on an experience right now DAV Busters plays right into that I was too critical of you on Set uh here in your comment it is a great place it it's a fun place you're AR too critical you're just sharing your.

Opinion that's true look I mean I I worked on this company's IPO uh great place to eat play uh watch and some I don't know I wrote the ad copy for it but anyway I forget what it is I have it framed somewhere at home anyway um one of the huge things dbdr that could be a huge thing in the future David Buster's Dominican Republic my gosh in two years.

As well they're also be being or looking more across this International Development you laugh now but just wait till you're in Dr and you're like very skeptical of it coming into this segment now we're ending the segment with you promoting the new location that we're going to have in the Dominican Republic we're in a big 180 all right well on.

That note time for you to go Maddie Mills is going to take a your seat but everyone say right here because coming up next hour Brad is going to be back for while yeah I'm going now but I'm back at 11:00 a.m. Easter time we're going to be talking guess what retirement spending and the risk of the strong economy for investors plus how.

Vending machines yes those vending machines could be your next great side hustle all right well make sure to keep it right here on Yahoo finance we'll be right back in minutes.

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now welcome back to Yahoo finding some Shan SPI the alongside Madison Mill 30 minutes into the trading day we're still looking at losses here Across The Bard but we have some breaking news out just.

Moments ago let's get to the March us ISM Services here falling to 51.4 that was below what the street was looking for business activity though did rise to 57.4 that was versus 57.2 new orders though did fall to 54.4 we also saw employment though Rising just a bit supplier deliveries that fell to 45.4 so a bit of a bounce that we're.

Seeing here on this year have the Dow and the S&P both in positive territory the NASDAQ as well Maddie before I kick it over to you real quick let's also take a look at the S&P Global us Services PMI that was released just about 6 15 minutes ago growth of activity here sustained at the end of the first quarter now further rises in.

Output and also new orders but the rates of growth starting to ease just a bit selling price inflation at an 8mon high pace of job creation that's starting to moderate so something to keep in mind ahead of that jobs support that we will be getting out on Friday Maddie yeah it's kind of a picture poison when it comes to the data but it looks like the.

Market is clinging on to some of the good news that we saw in terms of there not being too much of a RedHot movement when it came to that Services data coming in from PMI we obviously had the beat earlier this week in the manufacturing sector that led to a little bit of the sell-off that we saw in the market over the past couple of.

Days so the market clinging to anything that could indicate that the FED will have a reason to cut moving forward so we're seeing a little bit of movement the NASDAQ is relatively close to Flat 310 of a percent upward side on the Dow Jones and the S&P is up a little over 2/10 of a percent here seeing the Russell 2000 those small caps names.

They're highly leveraged in terms of their debt portfolios they're down about 2/10 of a percent this morning in the NASDAQ again looking relatively flat here so not too much movement uh having said that though it's going to be interesting to continue to see whether or not the market has any change in reaction throughout the day given that.

We are going to be hearing from Fed chair J Powell at noon today so whether or not he's able to continue a hawkish tone or doish tone rather in response to to some of this hotter than anticipated data that's what the Market's going to be listening in on S&P Global's us Services PMI coming in at 51.7 taking down to a 3-month low in.

March still remaining above the 50 Mark signaling a rise in business activity for the 14th consecutive month joining us now we have Chris Williamson S&P Global Market intelligence Chief business Economist and executive director thank you so much for joining us this morning I was saying that it's kind of a pick your poison when it comes.

To the data what data have we heard so far this week that you think is going to be at the top of J Powell's mind as he uh comes and gives these remarks in a little over two hours here good morning yeah there's a mixed back really I I think the key message from what we've seen in with the recent releases including the ism data just out.

And the S&P Global Services PMI is that the first quarter certainly looks like it was robust growth um these numbers from the activity side cooling a little but still consistent with an economy that's growing at at least a a 2% annualized rate and and as we saw from ADP as well generating some decent jobs growth um certainly that labor market.

Not cooling especially rapidly uh and I think that's that's where the focus is going to lie that labor market and the and and the pay data especially now the ism data and the and the SP data today showed this diverging pattern in in price trends now ism uh the price index there cooling quite markedly in contrast the S&P Global PMI showed accelerating.

Price pressures in Services now that latter is much more influenced by wages ism's much more materials focused and that explains that Divergence probably so what you've got here is this persistent wage pressures with this tight labor market just look at those ISM data you got very strong new orders growth and activity growth but Falling.

Employment this is because firms just can't get those stuff so they have to pay them more so that's going to be the area of concern that labor market the fed's still going to want to see that the signs of that labor market Cooling and hopefully we'll see that at the end of this week with those updated wage data Chris how much more tricky than.

Does that make the fed's job that when we talk about the Last Mile and taming inflation trying to get it under control if we talk about some of the pressure that we are seeing this move to the upside within wages obviously labor market that remains very tight how much do you think that could potentially delay the Fed B's first.

Rut well we we still think June looks the most likely you you got a few more inflation prints before then uh to give them some confidence that inflation's coming down quite nicely and by then it should be around the 2% Mark that headline inflation rate but the question that's that's base effects uh bringing that down as well and if you look at the.

Month- on-month rates there certainly with the survey data that we've got it's suggestive that you're going to see some stickiness come back into the numbers so we're running at levels that are sort of around 3% inflation Mark going into the second half of of next year so that's going to really make for an interesting discussion as to whether June is is the.

Month uh where we'll see the first go we still think that's on we still think the headline numbers are going to come down sufficiently to generate that and then hopefully by then the labor market will be starting to cool the wage data in particular as those headline inflation numbers bring down the wage bargaining power uh for for new pay deals and that.

Feeds through to this this softer labor market picture from an inflation perspective allowing another two rate Cuts in the second half of the year that still looks on track for this there's nothing here that we've seen today especially that's not that off track Chris what does the FED care more about right now the nonfarm payrolls numbers.

We're going to get on Friday or the CPI print that we're going to get next week I I would argue it's the CPI prints because it wants those to come down nicely because of that wage bargaining effect the the wage data you got the payrolls data that we're seeing um for for March remember it's a lagging indicator and what we want to see at the.

Moment now is those headline headline inflation rates and come down so that um unions and workers can't point to high headline inflation and say look we we want this out a bit more um soon as that headline inflation rate comes down to Target then those wage bargaining pressures are are much more comfortable for the Fred for the Fed to deal with so.

I would argue it's that CPI we want to come down and see some definite signs that that is settling around the 2% Mark for the FED to be comfortable Chris given the fact that the FED it sounds like well what they have said and what you're saying they need to be a little bit more convinced that inflation is going to continue that Trend lower.

What's your assessment right now about a risk of a recession and the ability that the economy is going to be able to remain so resilient if we are in this higher for longer environment well I mean it's looking resilient at the moment isn't it the strength of growth in the fourth quarter surprise first quarter looks like it's going to.

Be a a good one as well um it looks like companies are able to deal with this higher interest environment for now I it's been aided of course by the the stock market gains we've had and those loosening Financial conditions don't forget that markets have already in effect uh helped the FED with some some loosening of financial conditions just.

Look at mortgage rates for example compared to where we were late last year so you've got some loosening of financial conditions helping to drive this growth um the interesting thing of course is that if we do see some further repricing of uh forward interest rates what's that going to do to those financial conditions and the markets in.

Particular and and how's that going to affect business confidence um what we've seen so far is that there is resilience there and this is in effect um analyst saying look if you look at earnings growth it can survive in this sort of interest rate environment for the time being so so everything looks okay as long as you still got this promise of.

Some rate cuts to come through later in the year Chris everything looks okay until it doesn't right and so I'm really curious about how the FED has been able to sort of hold on to its narrative for so long given that we have seen this continued growth and resilience in our economy I'm curious from your perspective what data point do you think.

Could chip away at the fed and particularly J Powell's commentary that there will be cuts at some point this year well what what could um deter them from from hiking is of course in in sorry from cutting is of course further further hikes in in the in the earnings growth uh the employee earnings growth.

And the CPI uh and indeed you know some of the dates that we've got suggest that that is going to be sticky now that could deter them from June you could get to the May inflation print and they're saying look they the wage dat is still looking a bit too buoyant inflation is not coming down quite as fast as we thought especially the core um and so we.

Just need to push it back and that's obviously going to upset the markets and that could cause um some disruption there but at the moment that doesn't seem to be um anything like the base scenario that we've got here um certainly there's no guarantee that you've got a June as a cut but but it's still looking very likely and as I say.

There's nothing in these data to really uh erode that view all right Chris Williamson great to get your perspective and insight especially in a day like today thanks so much for taking the time to join us S&P glob Market intelligence Chief business Economist and executive director thanks well Paramount is reportedly one.

St closer to a sale the New York Times reporting that negotiations for a possible merger between Paramount and Sky Dan are heating up as the two companies enter ENT exclusive talks this following reports from Bloomberg in January that Sky Dan media CEO David Allison made a preliminary offer to acquire National amusements from the.

Redstone family as a way to take control of Paramount GL Global we're not seeing much reaction in the stock here this morning uh it's still early in the trading day off just about 810 of a percent but Maddie this is just a latest here in The Saga that has played out with Paramount there's been lots of talk lots of chatter about what a potential.

Takeover is going to look like not so much if this is going to happen when this is going to happen who is going to be acquired by given the fact that obviously competition within this space is really heating up we know the larger players have a massive Advantage within this now many of these comp companies under pressure because of the rise in.

Streaming cost so this is an interesting development here not fully confirmed here just reports here from The New York Times but it does look like it maybe is one step closer to eventually reaching a deal I mean it comes at a difficult time for Paramount as you kind of mentioned here this stock is down 20% so far this year uh we did see some movement in the.

Pre-market on Wednesday after this New York Times report about that meeting like you mentioned it was up a little over 2% in the morning trade this morning now pairing back some of those gains a little bit uh could be related to the broader Market action though having said that it does seem like this is becoming an even more critical and.

More time sensitive issue uh and we are hearing some reporting as well that this does suggest that we are getting closer to some type of takeover or movement here uh so hopefully getting some news on that as we continue to monitor this but a tough year if your Paramount stockholder just given that performance so far certainly as you can see that.

Downward Trend uh on the far to the side of your screen there to the right all right well keep right here on Yahoo find much more of your Market action ahead we'll be right back.

Apple continuing to be in what you could call a difficult period the tech giant coming off its worst quarterly.

Performance relative to the S&P 500 in over a decade as it's dealing with a high-profile antitrust battle with the Department of Justice falling iPhone sales in China and a regulatory investigation in the European Union to top it all off shareholders waiting for positive signs that could spur rotation for the tech giant so to discuss what's.

Next for Apple we've got Craig Johnson Piper Sandler managing director and chief Market technician Craig thank you so much for being here with us talk to me about what's next for apple is there any potential for further downside from here well you know there's a lot of headwinds there's no question for Apple at this point in time but when you step.

Back and you look at the company overall I mean it is a very obviously highquality Blue Chip company that's been doing very well for a very extended period of time you could also add to the list of problems that uh handset sales have not been terrific in China but at this point in time with a market that looks like it's setting itself up for a.

Good 5 to 10% correction apple looks like a pretty attractive place for people to park their money at this point in time because it is got a a great balance sheet b a highly repeatable business model C good margins and and D I would say they're buying back quite a bit of stock so if you're looking to put money in sort of a call it a safe haven.

Trade at this point in time and a company that's got a better balance sheet than the US government you know Apple's probably going to be the safe haven trade and when you look at the chart that we've uh we've got here this morning you can see that you're still in a very nice longer term upward trending Channel you're now the midpoint of that.

Channel and from a risk reward standpoint you got probably about 10% downside 20% upside so despite the disappointment and underperformance this year this could be a rotational stock for investors that are looking to hide all right great we have one of the charts here up on your screen you you outlined some critical levels that need.

To be watched here uh within some recent reports just in terms of the pullback that we have seen in apple whether or not it's going to test that October low of 16567 Craig when we talk about whether or not the worst of it is behind it for apple is it fair to say that you think that is the.

Case well from a pure risk reward standpoint uh there's probably going to be further negative headlines coming with all these antitrust issues to get played out that being said thinking about differentiating the company from the stock itself you look at the stock itself again you got probably 10% downside risk and about 20% upside so.

Two to1 risk reward at this point in time I'd also just note there's a lot of investors that have owned the over the years don't want to sell it for tax purposes at this point in time so I think they're going to be pretty patient with the stock and as the stock pulls back in here I don't think you're going to get as much selling pressure simply.

Because this is such a well-loved company and a company that's got such a solid balance sheet so not only could the worst be over for Apple but do you see a potential upside to Apple particularly as investors I know you've mentioned kind of trade in and out of The Magnificent Seven stocks is there a potential upside ahead here yeah.

Absolutely the stock could certainly trade back up to the upper end of the trading range which is closer to 180 um again that's a nice setup from here at these levels um and again there's new Innovative products coming out like the Apple Vision Pro it's going to be small initially but for those that have looked at that new particular product it's a.

Pretty impressive product with a lot of capabilities it certainly helps lay out the road map for what's ahead so there are some positive things on the on the horizon for Apple that we shouldn't ignore Craig I'm here ious from your perspective what do you make of the Divergence that we've seen in a number of these larger cap Tech names since the.

Start of the year really going back to the end of last year and what that could signal then in terms of some of those investing Trends in the coming months yeah I mean think about the mag 7 coming off of the and even the Fantastic 4 but the mag 7 and the Fantastic 4 coming off of these October lows of last year they have clearly led the market.

Higher they've also been very concentrated bets for a lot of individuals people haven't wanted to take profits in those names at this point in time if you just come back and look at the charts of those particular companies they're not making new highs anymore so we've often been looking at these sort of Mag seven stocks in 2023.

And in 2024 as potentially becoming the lag seven stocks as they're not relatively outperforming in the same way clearly been the case for Apple this year I think you're getting a market that is starting to say I got to take some money off the table the risk the reward at this point in time for some of these companies is just too stretched.

Some of those uh mag s stocks specifically thinking about uh you know uh specifically thinking about Nvidia as an example which has been clearly the dominant one place stock in the market you're trading uh 50 plus perc above your 200 day moving average and you're now not seeing the stock making new highs the momentum investors out there.

Are going to start to lose religion on some of these stocks if they don't start to see an improvement I suspect that's going to be the case and that's why I think you're going to get a 5 to 10% correction in the market and see some of these stocks that have been such such winners actually come back in and watch the market diversify Craig last question.

For you what are you hearing most from clients about the Magnificent 7 trade and what's next for that trade well the common question for for a lot of investors and institutions is why should I sell these names they still remain in uptrends and um the answer to the qu and then also what's what's going to be the Catalyst for a correction in.

The market well the Catalyst for a ction in the market is becoming obvious I mean the prior guess that you have on is talking about the FED talking about interest rates and what I will tell you is you've got a breakout happening in 10-year bond yields right now and if you start seeing 450 or 460 on the 10-year I can't imagine that the equity Market is.

Going to hold up well under that scenario and that's going to lead to at least a 5 to 10% correction you could actually see this Market pull back toward 40 the S&P that is pull back toward 4600 to 4800 um I think over the next several months giving us a better entry point for not only Apple but also a lot of these Magnificent Seven stocks.

And you would also watch the market broaden out from our perspective so we've raised cash we've uh raised our recommended we've lowered our recommended Equity 90% from 98% so you got to be a little more careful in here right now all right Craig we're gonna have to leave it there thank you so much for joining us on all things apple and.

Big Tech that was Craig Johnson Piper Sandler managing director and chief Market technician now coming up oil is breaking back above $85 a barrel we're going to speak with one analyst who says it could push even higher that's coming up after the break.

m.

now oil back above $85 a barrel the highest level since October ahead of today's OPEC plus meeting where they largely expected to reiterate current Supply.

Cuts our next guest anticipates interest rate Cuts would bring an additional upward push in prices this year so to discuss we have claudo gallimberti rad energy SVP joining us and thank you so much for being here claudo I'm curious just what is your Topline projection for where we could see the price of oil going this.

Year thank you very much for inviting me back well it's always hard to tell where the oil prices would end up being but clearly they've been on a an upward Trend an upward trajectory which we forecasted at the beginning of the year and this is primarily due to the OPEC cuts which were renew today and through the end of Q2 so I would say that until.

The op cuts are in place we are on an upward trajectory uh of course there are some factors to the downside that we we need to take into account but they are kind of are dwindling down right so we were uh probably a few months ago were concerned about demand we are no longer concerned uh there are a lot of uh geopolitical.

Reason to uh to be concerned about Supply risks therefore I would say you know triple digit oil prices are not that far at this point and uh this is where we could end up in the next in the next couple of months for sure I was going to say claudo how soon could we see those triple digit prices well this depends on on a few.

Things right so right now we are on a very tight Market uh the op cuts are have made have created a huge deficit demand remains strong what could bring the prices up is a is a big outage uh we have seen Ukraine just as of yesterday attacking a big refining in Taran which is something like a thousand kilometers from the border from the Russian border.

So the there is an escalation uh in the in the war between Ukraine and Russia specifically targeting Russ Russian oil facility Russia Russia is a major oil producer so uh the moment you have potentially 500,000 a million barrels a day temporarily impact this is when you can see oil prices Notch up potentially another $5 $10 and then you are in.

Triple digit but there is one very important element that we need to take into consideration which we highlighted for for the past few months which in my view will keep a let's say a cap on the upper movement of prices and that is the the basically the big spare capacity we currently have in the Middle East well I'm curious then about what that could.

Look like moving forward because there are several geopolitical events going on right now that could impact the price of oil which of the ones that you just mentioned do you think are going to stand to have that highest impact throughout the course of the rest of the year is it what's going on in Ukraine is it the Saudis which.

One well it's it's both it's both medison the uh we need to take into consideration that the war in Ukraine has been going on for two years and right now we are at a phase where uh the oil facility refining Midstream has been has been targeted specifically through drone attacks this the first one occurred back in January uh and and.

Right now we are in in that phase of the War uh on the other hand in the Middle East the situation appears to be getting worse and worse unfortunately by the day so uh it is the it is over the weekend when a an embassy in Syria was attack and the embassy of Iran and that is likely to bring further escalation in a region that's always been extremely.

Unstable but right now even more so after of course the the October 7th attack on on is by Hamas so you have potentially I mean at this point Iran can be on two fronts one if there is an attack by Israel into the hisbah so which is Lebanon and the other one of course is the houti down in the Red Sea which have engaged the the US for the.

Past three four months the hotti are supported by Iran so the situation is extremely complicated in the Middle East increasingly difficult to manage between Russia and Ukraine therefore the supply oil supply can can be impacted any at any point in time in the uh in the next few few months of course.

This is not the most important thing during the war you have casualty you have fatalities this is what what really matters but when it comes to the oil markets we are in a phase where oil supply can be severely impacted and if you consider that last year we had outside of the Middle East outside of Russia we had the United States.

Production was growing really strong um and that was of course a um a a good thing this year we are not seeing the same level of Supply growth and that's another bullish factor for prices if you think about it so if we don't have the same level of Supply growth and then also coupled with Rising demand If the Fed were to cut rates here in the US.

Later this year how big of a factor will that be in terms of a catalyst higher for prices that's also another uh another this will be a nonf fundamental Factor on oil prices because it's outside the supply and demand of oil but it is a fact that if you decrease interest rates then a boost for the economy so.

Indirectly it is a boost for o demand and it's also it also has a boost in terms of a general risk on attitude and oil is a risky asset therefore decrease interest rate you increase the risk on attitude of of investors you end up with everything else equal with higher oil prices therefore we could be in a situation in which oil prices are stably.

Above $90 per barel and this is pretty much what AR rise that energy we are expecting although we have a a little bit more nounced view than that with higher price in certain periods of the summer and lower later on but overall we are in definitely a bullish uh a bullish scenario right now due to these all these elements that are almost all of.

Them are pointing are pointing upwards of course we cannot we cannot discount the fact that oil demand can at some point start to disappoint so it was a big surprise last year when old DE man was so strong we begin to see some sign the latest sign we have real time information about traffic shows that is actually weakening a little bit it's.

Very early to tell whether is it is a trend or just a blip but the if demand starts to weigh down to to to become weaker then then then of course oil prices will react uh with a downward with a downward adjustment but apart from that I can only see from this point onwards for the next few weeks upward pressure on prices clao gber always.

Great ad to get your Insight here rad energy a senior vice president thanks so much for joining us thank you well US Treasury secretary Janet Yellen heading to China for the second time for four days of meetings that include conversations with top Chinese economic officials this coming on the heels of a conversation had earlier this week.

Between President Biden and China's president xiin ping who reconnected via phone we want to bring Yahoo finances Rick Newman joining us now for what we know so far Rick hey guys yeah a lot of economic issues on the table between the United States and China uh I think the main thing is just to keep the economic Rel relationship intact as it is uh.

President Donald Trump of course when he was in office he uh slapped tariffs on a lot of Chinese Imports uh and uh he wants to go further if he gets elected again he wants to uh basically decouple the US and Chinese economies uh Biden does not want to go quite that far but the Biden Administration clearly very concerned about this flood of um exports.

That's coming out of China because they're producing way more than they consume internally in China and this includes some high value products now especially Automobiles and electric vehicles uh which China is trying to sell throughout the world so I think Janet Yellen is going to be bringing a message that um China needs to be pretty.

Careful about trying to flood Global markets with those products and the and President Biden can uh unilaterally impose uh new tariffs on some of those products he doesn't need Congress to do that and there have been some murmurs in the B Administration that that could happen if China tries starts trying to uh you know undercut uh domestic the.

Domestic market for electric vehicles and uh solar panels and other things like that some of that's already happening so uh that's going to be part of the conversation there's a lot more on the table uh we're going to see I think we're going to see the Secretary of State going there after Janet Yellen perhaps talking about security situation.

In Taiwan so uh no shortage of things to talk about all right Rick thank you so much for joining us as always really appreciate it now coming up investors are looking to what Federal Reserve chair J poell could say this after afternoon and the impact that could have on markets so we're going to discuss more of that after the.

break.

Up now investors are looking to upcoming I'm sorry shaa do you want to take it no we can share it I don't know why I thought that that was I'm so sorry I was going to say go for it girl all right let's.

Talk take it from the top here because we are just about 90 minutes into the train and an hour we're into the train day and I can't do math here this morning now we're into the trading day we're looking at gains across the board you've got the Dow S&P and the NASDAQ moving higher now this move coming as investors are looking to upcoming.

Comments from Fed chair J pal looking for any insight into the timing of first Ray Cuts he will begin speaking in just about 90 minutes we want to bring in Dan Gerard he's St Street Global's markets senior multi-asset strategist here to discuss a bit more Dan it's great to see you here we're both very excited to ask you questions let me kick it off real.

Quick in terms of what we could hear from pal what you're expecting the timing of the first Ray Cuts do you think what's being priced into the market right now makes sense at this point look thanks for having me on first of all and yes I think it makes sense because we've got about a I think now down to about a coin toss in June and uh.

Chair Powell has really showed his bias over the past few pressers I think he's trying to build consensus he he wants to get into a cutting phase but the data just isn't there yet and now the market is um really starting to question that June cut um not pricing it out but but questioning and I think that that makes sense given where the data is we get.

More inflation data next week and the the potential is there that due to Energy prices and the pass through of energy prices um that we continue to see some pretty pretty uh hot numbers or at least more than um the FED will be or the fomc will be comfortable with and um yeah I think it makes sense where we are about a maybe 50% chance that we'll see.

June at this point well I'm glad you bring up oil prices Dan because I am curious which asset class you look at to find the most clarity about what's going on beneath the surface because there's so much conflicting data out there you've got oil hitting record highs the 10-year hitting record highs which asset class do you look at for the clearest.

Picture of what could be next for the fed well look I think what's most important is the fed's data on Commercial Banking I think that that's really what they're they're trying to keep their eyes on because uh we've got a bit of a dichotomy we still have a a pretty good um bullish investor SE sentiment a good risk-taking environment.

Within the financial Market space and that's showing up in tight credit spreads it's showing up in um in the fact that valuations remain quite High still but if we look at the lending side of um of of Bank assets or just Bank assets Commercial Bank Assets in general we can see that there is some stress building and that's that's important.

That lending demand um or just overall lending growth has fallen down to levels where normally that's a pretty good precursor for um recession on the horizon total lending is in a three-month annualized basis has gone negative commercial and Industrial lending sub 5% which is a pretty good Telltale sign so I think that's really.

What we need to watch out for especially as there is the potential here for the first time in nearly two decades that will have high positive nominal rates high high positive real rates and a Fed balance sheet that is actually stable or declining um when some of these facilities roll off in the next few months so Dan it sounds like the test is.

Just ahead here for the market so what does that tell us that then in terms of investors what should they be doing how should they be positioning their portfolios today just to brace for some of that potential uh volatility and uncertainty look I still think the US markets are are um a king here this is where we see the best best growth.

Exposure the best profitability um that exposure to Tech into health care which we want I don't think this is time to go into the the small cap value side of of markets yet so the US is is is really us equities in in the cap weighted world makes sense now there is this expectation that um the ECB will potentially be the first to cut now and.

That's getting European investors excited as well we're starting to see from our client base inflows back into France into Germany which is of course more cyclical value exposure um I think that that has potential you know short-term short-term run to it I wouldn't call that a durable rally because I'm still worried about this um.

That we haven't seen the end of this cycle yet and with um the potential for continued hot data and and cuts being priced out or kick kicked down the line a bit I would stick with that that us growth story a bit more profitability and cash flow Dan I I hate to say this as we're just about an hour and change out from hearing Jay Powell speak but is.

There any chance that we are giving a little bit too much Credence to the FED for the rally that we've seen so far this year because we've also had really solid earnings growth do you think that the market could still have legs to Rally because of that earnings growth despite what may come from the Federal Reserve look I don't think we're in an.

Earnings driven phase yet we're starting to see pretty solid earnings expectations I'll call them lofty earnings expectations if we're having declining nominal growth so that's the that's what we have to wrestle with a little bit I think this is still very much a liquidity driven rally that is is been driven by the the um unwind of the.

Fed's reverse repo facility pulling money back into the financial markets that makes the most sense to me and I think that that's what we really need to watch out for as we um we start to reach the the uh the end of that unwind in the next few months so not quite the earnings rally yet all right thank you Dan jard State Street Global Market.

Senior multi-asset strategist we really appreciate it thank you so much now Ford Shares are are rising this morning the company out with its latest sales numbers seeing a 6.8% rise in the first quarter we're going to bring in Yahoo finance its PRS sub Manan to give us the details PR yeah another strong quarter for Ford here following on other.

Quarters recently where you know they see sales up almost 7% to 58,000 Vehicles just want to note a couple couple things here hybrid sees up 42% uh best ever quarter for the Maverick hybrid that pickup is still selling really strongly here and EVS get this EVS up 86% in q1 that's right sales the the Mustang Maki up over 70% the.

Lightning back on track 80% now these are heavily discounted EVS I got to note that they're not really going to be making much money on these but they're moving them nonetheless also FS series again the number one pickup in the in the country but F-150 sales are down almost 10% because of the fact they've had this kind of extended ramp up for.

The new F-150 to come out it's taking them a bit longer to get those uh ramped up in their factories so is that something that maybe investors should almost ignore for now just in terms of the fact that demand might correct itself down the line and then also going back to what you just said that 86% number that we just said on the screen.

Obviously pretty impressive when you take that at face value how do that compared to some of the other Legacy automakers and then ultimately when you then compare that back to Tesla who has been having some trouble yeah I mean you look at so 4D EV sales up a lot Tesla EV sales down but I mean the comparison is is not even close right 380 something.

Thousand EV sold by Tesla uh barely below 50 I guess um so that so it's a bit it's a bit of a of a of a comparison issue but they're still selling more EVS than most other automakers way more than GM for instance right so they're they're actually building momentum there and they probably see that as a a good thing when they actually come out their second.

Generation EVS down the line hey we built up the Goodwill we have good EVS out there people are buying them um talking about just sort of Legacy automakers versus Tesla you're kind of seeing how once this EV sort of w winter is still happening in some sense broader picture in in the country they're ble to rely on hybrid and gas powered cars to.

Sort of make up the difference and investors are want to see that they're not all of a sudden now if you're at pure EV play we don't want to invest in you we're going to invest in the Legacy automakers which is like two years ago was unheard of interesting to see that diversification being a good thing there yeah thank you PR really appreciate it.

So much thank you uh we're also watching shares of Ulta this morning the retailer saying first quarter comparisons are on the lower end of its guidance of low single digigit growth as it sees a broad base slowdown AC across its product categories we should mention these comments coming out of the JP Morgan retail conference but a lot of downward.

Movement in this name uh falling as much as 14% now it's a little bit down about 13 and a half% so pairing some of those losses ever so slightly but that is the biggest intraday drop since March 2020 for Ulta and again this comes after those comments at the JP Morgan retail Roundup investor conference about that slowdown in sales already hitting in the.

First quarter of the year shaa and we're seeing uh some peers in the beauty space down off of that news as well yeah and as a result of that that they see a q onc sales to be at the lower end of their low single digit growth Outlook which they initially gave so obviously this is really a sign of consumers pulling back on some of their.

Discretionary spending some of their spending that they had been sticking with up until this point but we can take a look at Ulta's stock if you take a look at a six-month chart if you take a look at a one-year chart this is a name that has been under some pressure six months I guess it is trading to the positive but if you take a look at a one.

Year a bit of a different story we are seeing some negative action here off just about 18% obviously that 133% drop today which we are seeing intraday trading just really highlights how far Ulta has really come especially over that last six months when we talked about that run up here that we've seen over the last several months but on one.

Year basis it is a negative territory it's a stock that has struggled for some time so the fact that we are seeing a slow down here in demand the guidance maybe not meeting expect ation here potentially for q1 a bit of a worrisome sign here for investors at this point yeah well and it's interesting because I feel like people love Ulta because of.

The fundamentals but when you look at the stock we're not seeing that much good movement and again seing some downward movement as well and some pures in the space eser Estee Lauder Cody and elf Beauty down on the day as well we're going to have all of your markets action ahead so stay tuned for more you're watching Yahoo.

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Calain rallying after the company Beat expectations on the top and bottom line company also sold the most eggs on record Yahoo finances Brook depa has the details for us Brook good morning MADD good morning sha I mean certainly let's take a crack at caline Foods fisal Third here there's the fun had to say it a shares up trading nearly up 4% in early.

Trading here Revenue did come and lower but as we noted total sales volume did jump last quarter and it really is the tale of those two stories lower egg prices but a higher sales volume so if you take a closer look at Revenue that came in at 73.1 million ion dollar compared to last year that's lower last year this same quarter we saw Revenue.

Coming at 97.5 million and this really reflects those lower egg prices that we've seen come down year-over-year lapsing that highly contagious bird flu that really hit the the egg uh producer industry Cal main foods one of or one of if not the largest US egg producer here and that bird flu really caused prices to.

Skyrocket last year but what we're seeing here this year is really interesting in the call calain Foods did note that consumers are looking for affordable and nutritious protein options and that led to record quarterly sales volume for total dozen and Specialty eggs total sales volume last quarter jumped.

3.2% and Specialty eggs volume jumped 4.4% now as far as what caline foods predicts for the later part of their fiscal 2024 right now they said that they're seeing favorable results year to dat but there are some headwinds out there they are navigating the bird flu earlier this week they did announce that their Texas plant tested positive for.

The bird flu that hit 3.6% of their total flock back in December the Kansas Factory was also hit by the uh positive test at that factory uncertain weather conditions and Global Supply Chain disruptions are also factors that they're keeping a close eye on but guys they are benefiting from lower feed costs those were down 20% year-over-year.

Last quarter and so that is a positive here and of course caline Foods got so much attention last year for price gouging being accused of that and so this will be one to watch as egg prices remain truly volatile here yeah they certainly got a lot of attention uh about that subject about those accusations last year but when we talk.

About egg prices right we have certainly seen much improvement especially when you compare it to the highest levels that we saw not too long ago how do how does what we're seeing today on the pricing front compare to what we saw pre pandemic and is there a thought out there that we're going to return to those lower levels yeah well certainly.

What we're seeing here is that egg prices are volatile they continue to be volatile but they are up tremendously compared to pre pandemic I believe now around 380 if I have that right and so when you think about what we previously saw what we're used to we were thinking more like1 to $3 and now this higher level there's no way compared to what we.

Saw last year we were running up5 to $6 last year now those prices are coming down but if this bur flu continues what we could see here are once again higher prices and this will be something that not only egg producers but consumers love to watch very closely yeah certainly although I guess when you take a look at these results consumers are.

Getting a bit more used to or accustomed to those higher prices looking for that b for their bu over higher beef prices and moderating chicken prices as well yeah that's a good point all right Brooks thanks Brooks Brook final check of the market here 90 minutes into the trading day you're still getting gains across the board Dow.

Of nearly 100 points you got the de up about a half of a percent that does it for us but coming up our brand new show wealth dedicated to all of your personal finance needs Brad Smith has you for the next hour stay tuned we'll see you tomorrow.

up well earning it rowing it and managing.

It it's more than tracking just the latest Market moves it's more than your favorite trending tickers One does not simply build wealth without considering the entire Financial landscape it takes a community and we've built one for you on today's show we'll look at the.

Smart way to invest during those retirement years and is the value of your home going up up up well we'll take a look at a tricky real estate market plus it's time to haggle why there's always room to negotiate and how it could could save you thousands welcome to wealth everyone I'm.

Brad Smith and this is Yahoo finances newest guide to building your financial footprint our community of experts will give you the resources tools tips and tricks that you need to grow your money your wealth theme for today big unveil there it is managing uncertain from the best way to invest during retirement to realizing the full value.

Of your home that domicile your crib your shelter whatever you're calling it we're going to look at that plus how to navigate some uncertain terrain first and foremost a milestone moment many of us will hit later in life retirement you spend the majority of your life working hard setting an early alarm for work yeting a work face on and.

Saving money for that moment when you have no when you know longer have to do any of that one question how do you plan to spend your hard owned money and saved money so here to break this down for us Robert pal retirement daily editor and publisher I mean Robert I can't wait until I no longer have to eat myself out of bed uh early hours of the day but.

It's all in a good good goal here that we're setting how often though does this happen where where people are planning for retirement they're saving for retirement and then they finally retire start spending and realize uhoh all right there's not enough here yeah so let me start by saying uh if we knew our date of death we could.

Create the perfect retirement spending plan but unfortunately Brad we don't know when we'll die so we have to sort of not wing it we have to be sort of more thoughtful than that um but I like to think about how you spend your money in retirement as a function of how well funded you are when you entered retirement so for folks who are.

Overfunded to use that term for folks who have more than enough income to meet their expected expenses throughout retirement I would say they don't have to worry about spending in retirement for other folks who might be constrained or underfunded they have to be a little bit more fruital with their money but one thing I would say Brad about.

Spending whether you're overfunded or underfunded is this most people because they don't know how long they're going to live tend to underspend in their early years of retirement during what some people refer to as the go- go years and so I would say Obviously you know you need to plan you need a budget uh you need to plan for unexpected expenses.

Etc etc but whether you're overfunded constrained or underfunded um think about spending money in the early years of retirement because as you age it's unlikely that you'll be able to spend money on those same things like travel or grandchildren Etc of the the pleasures of life that you've worked so hard to attain Robert if we all knew our.

Date of death then we would probably uh be living life much more differently here but you know at the end of the day you know thinking about retirement and and some of the dos and don'ts and how perhaps perhaps people can plan for the expenses that are that are controllable variables versus those that are uncontrollable yeah so let me talk about.

I think two spending plans that I think can help take some of the uncertainty out of retirement planning or retirement income planning one is a popular approach is something called the bucket approach where what you do is set aside um one to five years worth of of expenses in safe accounts that provide safety of principal and those would fund.

Your living expenses over the course of 1 to 5 years in the second bucket you might invest in a mix of stocks and bonds a little more volatile than say CDs or treasury bonds or bills uh on the other hand it's designed to provide you with it some uh inflation protection and that money you would use to fund your expenses five to 10 years from.

Retirement and then in the third bucket I might put 100% of my money into stocks which will then be used to fund expenses 10 plus years into retirement that's one approach Brad another approach is something called the four box strategy where what you're trying do is match your essential um your your guaranteed sources of income against your essential.

Expenses whether that's housing Transportation Healthcare food etc etc and then use your risky assets or your income from your assets in your 401k IRA and other accounts that are earmarked for retirement for your discretionary expenses your trip around the world your trip to Disney World with the grandkids etc etc and if there's a gap between.

Your essential your guaranteed sources of income and your essential expenses you might take some some of that income in one form or another convert some of that money into an income annuity so that you create another guaranteed source of income or if you're overfunded you could certainly just use the income from the assets to fund and bridge that.

Gap I um what I would say Brad is when you think about spending in retirement I would focus Less on what some people refer to as the 4 perent rule where what you might have is a a a mix of stocks and bonds and you're withdrawing 4% per year on an inflation adjusted basis um that tends to expose you to a coup things one is sequence of return risk.

Which can be problematic especially if you're drawing down money in the early years of retirement and the market is down that could create some problems later in life when you're trying to maintain your desired standard of living and um and I would say it's not how humans Work N natur necessarily in retirement expenses tend to be lumpy.

Some years you might have to buy a new roof some years you may take a big trip some years you might need to replace the the the heating system in your house and so the 4% rule doesn't really accommodate the possibility of of human nature and and and sort of the whims of what goes on in retirement the lumpiness of it all you mentioned Healthcare and I.

Think that really strikes home for a lot of people and we're going to discuss this a little bit later on in the show with one of our reporters but just thinking about how health care expenses can moderate higher based upon multiple things the the cost of prescription drugs the cost of the service that you're getting as well all of these.

Things considered what is the best way to adequately forecast or plan for how much that may inflate year over-year as you're retired yeah so um there are two big expenses in retirement housing represents 30% on average of your expenses in retirement and Healthcare is interesting ear in the early years of retirement it might only represent 5% of.

Your budget um but over the course of time over 30 years it then becomes 15% of your budget and it inflates to almost at twice the average of CPI and so what that and part of that reason that it goes from 5 to 15% is this Healthcare inflation is rising faster than CPI but also you're probably spending more on Healthcare expenses I would say think.

About Healthcare expenses in in this manner for the known expenses your Medicare Part B premium your Medicap insurance premium Your Part D premium your Medicare Advantage premium whatever that might be you can use cash flow to fund those sort of common expenses those don't tend to inflate uh greater than the rate of inflation on average um for.

Other expenses the uh co-pays autop pocket deductibles etc etc use income for your assets to pay for those and and then you know often times people will see reports that say oh you need $400,000 set aside at retirement to pay for healthcare expenses in retirement think less about that number and think more about the annual expense on average.

Couples may spend maybe 5,000 upwards of $10,000 per year on Healthcare expenses in retirement over the course of their 30 years inflating that number and that becomes much more manageable than thinking oh I need $400,000 set aside at AG 65 to pay for all my Healthcare expenses in retirement that scares a lot of people because most people don't.

Retire with $400,000 set aside to pay for healthare expenses in retirement Robert great insight and Analysis as always here Robert pal who is the retirement daily editor and publisher great to kick off the show with you here today appreciate it thank you br thanks well Robert also mentioned housing and coming up guess what we're going to.

Discuss that plus in old We Trust more investors are cashing in on the safe haven asset as it hits new all-time Highs but there's another commodity getting some hype I'll tell you what that is next.

up oh now.

these past two weeks we've seen an influx of economic data from the GDP report and consumer sentiment to the upcoming job jobs numbers that will come out this Friday a hot labor print May mean the FED doesn't rush to cut interest rates while a weaker than.

Expected headline figure could give reason to finally cut rates we've got Yahoo finances Jared blicky with us to break it all down hey Jared thank you Brad the name of the US economy is resilience and that is something that has defied a lot of experts no recession uh over the last year and really nothing in sight but we do want to assess the.

Odds of a historical odds of a probability of a Fed rate cut so the first question in my mind is is the economy too strong to handle a Fed rate cut because the risk is is that the FED is cutting rates in a strong economy the economy only gets that much hotter inflation re accelerates and then that gets away from the Fed so I went back uh.

All the way to the 1970s and all I'm tracking here are two different things in cyan light blue we had the FED funds rate that is a feds Benchmark overnight interest rate and you can see this got to 20% a few times in the 1980s in the early 1980s under Paul vulker uh that's at 20% up here and then scaled left here we have the S&P 500 on a log scale um.

And it's hard to see but you will see some bare markets in there that aren't necessarily apparent to the naked eye so let me just go historically um back in time through the previous Fed rate cutting cycles and all you have to do to go back in time is 2019 because that was when the FED cut rates from 2.5% to 2.25% so I I ass where the economy was.

At this time and guess where the ism level was it was 51.5 that is still an expansion T territory that is higher than the current print that we have right now of 50.3 so the economy when the FED cut in 2019 according to the ism was Stronger also the unemployment rate was 3.6% that was less than currently GDP was 3.4% so.

That was exactly where we are right now so with a stronger economy the FED cut rates and then guess what happened we got a pandemic a few months later so difficult to draw anything from that but all you have to do is go back to 2007 to find another example of when the FED cut rates in a strong economy now 2007 was a Prelude to the global financial crisis.

But we didn't know until it really happened until Leman Brothers failed and that was in November or excuse me September of 2008 a year earlier the FED started cutting rates 50 basis points with the ism level at 52.2 that's a lot stronger than it is now 4.6% is the unemployment rate back then in 2007 that's bordering on a high number which.

Is not that great for the economy but still not bad GDP was 2 and a half% uh my point is we don't really know when a recession is coming until we're right up against it and then the Federal Reserve in those instances has to drastically cut rates very quickly but what usually happens is the Fed just kind of does it pacem mail they feel it out and uh I.

Will say in the 1990s we did have a couple of potential soft Landings in here um that you could argue in 1995 and 1998 when the FED cut rates and we saw the stock market accelerate and really didn't have too many hiccups because there was no recession with that bottom line is we don't we can never predict fully what the conditions are going to.

Be that lead a fed to cut rates or what's going to happen a year later anything can happen and so I guess unfortunately my biggest takeaway is that we cannot predict uh and we cannot say that the FED shouldn't cut rates right now now because they have historically and it's gone either way yeah and the FED looking for demand to.

Dampen as of this time right now which is why they hire for longer has been much of the thinking much of been what's put forward in their commentary we'll see if cutting though is something that needs to be done if we do go into a recession and the need to Spur demand here which could have ramifications as well for the housing market which we're.

Going to get into in a second Jared thanks so much for teing up this next conversation House Hunters out there listen up according to core logic year-over-year home price gains will continue to rise for the rest of the year but are anticipated to rise at a slower Pace we had famed Shark Tank investor and corkin group founder.

Barbara corkin on with us last week and this is what she had to say about housing prices I think the prices are going to go through the roof especially if interest rates come down another Point by year end I think everybody in their mother and their in-laws is going to come out looking for a new house and the.

Competition is going to be so Fierce that house prices will have to go up let's bring in Salma Hep who is the core logic's Chief Economist to discuss more Selma great to see you thanks so much for taking the time here with us today I I was looking at this report when it dropped yesterday and I was absolutely taken away by some of the top pull pull.

Aart kind of points that you highlighted within this and I want to start with the US single family home prices they increased by about 55% year-over-year in February 2024 compared with February 23 what is the larger Trend that we're seeing right now and you just heard from Barbara Corin what does that spell out for perhaps the rest of this.

Year um sure well first of all thanks so much for having me um so home prices were up 5.5% in February um and that's actually a smaller increase than we saw in a month before and we will likely uh continue to see this slowing Trend throughout the remainder of the year as we move away from the bottom of home prices in j January of 2023 because we.

Were comparing to that those low prices at the end of 2022 coming into January 2023 uh home price growth kept accelerating and now we've reached that Peak uh we're pivoting and we are going to see slowing of annual rate of growth but what was really interesting to me in this February report too is that a in monthly increase uh from January to.

February was exceptionally strong it was actually up 0.7% which is almost double the rate that we usually see between these two months or at least have prior to the pandemic so uh that's telling me that we are off to a really strong start uh in terms of home prices in 2024 are there any material differences you're seeing.

Right now with relation to existing homes versus some of the New home builds um so uh yes there is a a lack of uh existing uh supply of homes uh which is driving demand man towards new homes uh uh and there's been a greater availability of new homes particular in some markets in southeast and South and so uh as a result of a greater.

Availability of Supply we've seen more turnover more transactions happening in those markets as well and as a result of that slower rate of home price appreciation among existing home sales um so particularly when you look at where home sales uh price growth has been the slowest it's actually been in some of the markets in Texas where we've.

Seen an influx uh of new construction for those buyers who are waiting into this market right now and trying to get the best deal possible at the same time where sellers are trying to make sure that they're realizing the best price you know where are you seeing this push and pull where are negotiations netting out at and and how do we expect that to.

Matriculate as we get into the peak spring buying season as well right so um as Barbara mentioned in the previous uh segment uh that you were uh from last week uh spring home buying season tends to be more competitive right you do see more people coming out as buyers and and generally it's met by larger Supply what we've seen over the.

Last couple of years is that more buyers come in than sellers which uh tends to put pressure on home prices as a result of that we've seen such strong home price appreciation and I think we are already seeing that to some extent this year uh just giving the rate of home price appreciation that we saw in February so definitely uh again more.

Competition in the market which tends to drive uh um a a price bidding on on homes and and home price appreciation higher the core logic forecast that that struck my attention it shows that annual us home price gains will relax to 3.1% in February 2025 there's there's a good deal of time between now and then and so what are some of the main.

Catalysts that are going to drive that that relaxation down to that 3.1% that we're tracking towards well a lot of that honestly is the base effect basically you're starting to compare spring home uh home prices this year compared to last year and last year we had a similar uh Trend where there was a strong influx of.

Demand as mortgage rates came down that was not met by equal Supply so home price appreciation uh exceeded sign signicantly that that we would have generally seen spring home buying season so as you start comparing these two on an annual basis on a year-over-year basis that really drives that uh slowing of rate growth but when it comes to.

Monthly gains and com prices I think again we're going to likely see continued uh strong appreciation going into uh next few spring Home Spring home buying seon season and then those uh that rate of appreciation slows gen generally in latter part of the year you know someone just lastly while we have you I wonder when you hear about the FED.

Potentially looking at less Cuts than expected coming into this year how do you fact that that into the the Home Market calculus right unfortunately uh less Cuts mean higher mortgage rates as well uh and we've already seen that play out in the market I mean as soon as mortgage rates increased in 2022 we saw a.

Significant drop in demand um now what's interesting about this cycle is that we still have more demand than we have Supply so that continues to drive home prices higher but for many buyers out there a higher mortgage rates basically means that they cannot participate and especially for first-time home buyers and low low to moderate income buyers so.

So some buyers unfortunately are completely priced out of the market Selma he core logic Chief Economist Selma thanks so much for taking the time here with us today I appreciate it thanks for having me certainly well gold hitting a record high this morning amid growing tensions in the middle released in speculations.

About the US interest rate cut pathway investors appear to be moving into what are traditionally considered safe haven assets so can you include Commodities into your portfolio let's bring in Cynthia Murphy who is the ETF Think Tank director of research to discuss more this is part of our ETF report brought to you by Invesco QQQ great to have you.

Here once again with us Cynthia first and foremost the Commodities ETFs how much of a bid are they catching now that we're seeing some of these new all-time highs or the new highs in gold hi Brad it's uh they're finally hitting everybody's radar I mean as as you know people look to Commodities when they're trying to hedge against.

Inflation when we're looking to diversify portfolios but in the last you know year or so it's been all about big Tech so people have paid very little attention to the diversifiers because everybody was trying to ride that Tech wave and this year that is slight that's starting to change so we're seeing a bid under Commodities we're seeing a lot.

More commentary from the market experts the analysts about the importance of Commodities and the opportunity in Commodities which has been it's a segment that's typically under owned in the advisory channel it's under owned by most investors and it's at an attractive you know positions right now because they're so overlooked.

So often especially in the middle of a tech craze so this has been an interesting moment for for these types of Investments right now you know it's particularly interesting especially given some of the concerns that we've had really uh murmuring about out now and a loud murmur uh about the economy and the likelihood of a recession and.

Where that has actually perhaps fueled some demand for assets like gold where H how have you been evaluating that so if you look at for in Gold specifically I mean there's been a lot of conversation about central banks around the world buying gold I think 2022 was a record year for Central Bank purchases 2023 was a really strong year as well and uh so.

Far in 2024 we're seeing central banks you know know China India turkey all coming in and buying gold so they're doing that typically they do that for what to diversify their reserves they do that for Safe Haven that doesn't carry any kind of credit risk and it suggests just a general concern about the state of the you know geopolitical state of.

The world uh things are tense out there uh in the US specifically there's not a lot of telltale signs of a lot of trouble at the moment if you look at the Vicks I was talking yesterday with the folks yield Max who are experts in the space and you know they're pointing out the vix which is the fear gouge for the US economy uh it's really calm it's.

Suggesting like there's not a lot of fear out there uh which is kind of an interesting Dynamic of all this geopolitical risk all this bid and gold and commodities and yet the vix is kind of calm so it's a really interesting market right now where the truth is it suggesting nobody really knows what comes next yeah you know it was.

Interesting in our meeting this morning one of our top producers aside from gold was really excited about uranium G give us a sense of why especially considering some of the outperformance we've seen in both gold and uranium compared to the S&P 500 and the qqqs year to date so uranium has been quite the story I mean both uranium and gold have outperformed.

The SP 500 and QQQ this year which is a crazy statement uh it's uh it's been the Resurgence of the nuclear energy story since that Des dister in Japan years ago it's been a space that nobody wants to touch nobody wants to talk about it and all of a sudden you know there is nuclear energy is the cleanest kind of energy and so there's been a Resurgence.

In the space there's a lot of uh power plants coming back online or a lot of projects to build new power plants around the world for nuclear energy and uranium is key to that so we've seen a big run up on that and we're seeing demand for exposure to the space because uh I challenge you to find somebody who's bearish on uranium right now.

Everybody's extremely bullish the technicals are strong if you're a technical analyst the fundamentals are solid because the future is clean energy and nuclear energy is a big part of that story and in The Advisory space uh you know if you look at the latest track ins sight ETF Global survey he lists nuclear energy as one of the biggest themes.

Advisers are interested in right up there with crypto and AI which is telling uh if you think about the importance of the theme right now thank you so much for joining us here Cynthia always a pleasure to get some of your time and insights ETF Think Tank director of research Cynthia Murphy thank you thank you coming up everyone.

Haggling isn't just for flea markets or just for me it's for all aspects of your life we'll tell you how you can negotiate to save thousands of dollars and perhaps Millions if you're lucky we got that on the other side.

a a.

now are price tags just suggestions well maybe 76% of people who asked for a lowest interest rate lower interest rate on a card they got one last year that's.

According to a Lending Tree report the price isn't always right and you can do something about it to break down how to save money just by asking questions we've got Matt Schultz who is the Lending Chief credit analyst and author Matt great to have you here with us all right let's save folks some money out there.

It's about Building Wealth and maintaining it so to do so you got to be able to ask the right questions what is perhaps starting with the number one question people should and could be asking to save money what is it well one of the biggest questions that you can ask involves going to the doctor we know that medical bills are.

Really expensive and one of the things that a lot of people don't thing to do is when the a doctor or medical provider recommends a service or a procedure just ask them what would happen if I didn't do that or what happens if I delayed that a little while and often times a doctor May say that there's a big rush and obviously sometimes in the medical.

World there is and you can't put those things off but often times there there is not necessarily that sense of urgency and just taking the time to ask that question can allow you to potentially do that one uh that one procedure or that one action at a time where you might have a little more financial wherewithal how often should people be asking to you.

Know in this case for the doctor to you know either give them a receipt or you know price it out for them or something like that asking for options how often should people be pushing back on the initial price that they are quoted a lot I mean you're probably not going to it probably doesn't make sense for you to try and haggle over a box of.

Cheerios and and a loaf of bread and Kroger but in so many other cases you absolutely can and sticking with that uh that medical uh idea one of the key things that you can do is to ask for an itemized list of what was done um when you had that uh when you had your visit to that doctor and if you ask specifically for an itemized list with.

What are called CPT codes which are basically the industry standard for describing exactly what procedure was done that way you can find out for one exactly that you are getting charged for what you actually had done and two you can start a little bit of the negotiation process certainly and Matt we were just taking a look at a few of.

The tips and tricks there on the screen you know and I'm not sure who gave you the security camera footage to how I shot from my own cereal but we'll discuss that later on but as as we think about the different types of refunds that people can get the different types of experiences where they should and could be haggling how much are are.

People leaving on the table by paying too much they're leaving a lot of money on the table and life's expensive in 2024 that's the last thing that we should do and and the credit card example that you gave is a perfect one but it's certainly not the only one and another good one as we are going into people thinking about.

Summer travel season is as it relates to um as it relates to airfares where if your flight gets cancelled often times if you uh have that happen the airline will come to you and say well we'll give you a voucher we'll give you a flight credit we'll give you miles back but in most cases if the flight is cancelled then the law is on your side and you.

Don't have to settle for that first offer you can tell them no I want that refund I want my money refunded in full for that flight and they have to do that all right we're going to save that clip for our travel week when that comes up Matt thanks so much for taking the time Matt Schultz Lending Tree Chief credit analyst and author appreciate it thank.

You all right well it's safe to say that Tesla CEO Elon Musk hasn't been the biggest fan of Disney chief executive officer Bob Iger in a tweet from December or an exp poost musk saying Bob Iger should be fired immediately Walt Disney is turning in his grave over what Bob has done to his company the executive Feud which began in November.

After musk blasted Iger for pulling Disney's advertising off of X comes as the two companies face very different stock stories on Wall Street Tesla shares they've plummeted more than 30% since the start of the year Disney stock it's skyrocketed we could say by 35% over that same time to break down what this all means for investors we had to.

Bring in the Heavy Hitters both PR super Manan and Yahoo finances Ali Canal we've got both angles both the Tesla angle and the Disney angle covered here for us so Ali let's begin with you big proxy vote taking place today why has Disney been able to outperform despite its proxy battle that's been going on with tranne and Nelson pelts yeah and it is.

Interesting to compare these two stock stories but they are very different businesses with very different problem areas you mentioned that proxy fight reuter reporting that Disney has acquired enough votes to essentially defeat Nelson Pelt and fend off those activists however there's still going to be continued pressure on this board but.

One of the reasons why Disney has done so well in terms of the stock price is because they've listened to shareholders and really they've listened to the activists and made a lot of substantial changes at the company we've seen Mass layoffs restructuring a boost to the dividend a Taylor Swift movie on Disney plus an epic games partnership there's.

Been a lot of changes at this company and it wasn't that long ago that this stock was teetering on multi-year record lows there was a lot of pessimism on Wall Street and Main Street but now there seems to be quite a bit of bullishness across the board and it's largely due to those changes which is something that Elon Musk I don't think.

Is very receptive to right he doesn't tend to listen to a lot of the noise out there I don't know if you have a different opinion I would I would argue that a lot of the moving and you would say the same in Disney is the fact that there's an activist at the door right so if someone came in on Tesla and tried to do the same thing I bet the stock would.

Bounce immediately right but you're obviously right Disney has done so much in terms of changing the business once once Bob came back uh I mean I I think he's really brief the business turned it around in a sense that it's now in a better power better you know shape than when Bob chap was there right but for Tesla's point of view you know a lot of.

People are complaining about we don't have any proper guidance China is a concern uh what's the future of The Next Gen 2 vehicle when we going to see that so there's these things that need to be done that that could be done relatively easily but the problem is musk does not care what anyone thinks let alone shareholders and and what are the levers.

That could be pulled at this time to actually enter into a period of demand demand generation and realization off of that at Tesla and for the broader industry I don't know about demand generation but I think a lot of analysts are asking for is give us a path a roadway to when you can get that Gen 2 vehicle out talk to us about battery day.

AI day how do you get back on that AI train give us some information on what's going on in those long-term plays from a software point of view uh machine learning point of view that's what people want to hear about and I think that's an easy thing for them to do but there's no word yet on when we have a new battery day new a AI Etc and I think.

Your point that brought up earlier is is relevant right there isn't inactivist fight at Tesla at the current moment because there is one at Disney I think that's why we've seen a lot of these changes it really inreased that pressure and you know this was a very high-profile proxy battle the most expensive to date it makes me wonder the.

Precedent this could set when it comes to proxy battles moving forward and if there could potentially be a proxy battle at Tesla how what's happened at Disney and and all the the the enthusiasm I guess you could say around this battle how that could potentially play into other companies that are going through rough patches the issue with.

Tesla people who own a lot of the chairs like musk the opposite where they're building a position then they're going to go after him it's right now it's it's the opposite they want to if you want to if you want out get out we we'll buy our shares you so that's the issue with that company well two companies that a lot of people whether they like it or not.

Probably hold in either a retirement account or an account that is saving for a kid's College tuition or something like that given the fact that both of them have some type of component um component uh realization within any of the major averages that are out there in the US here for Disney and for Tesla uh Ally and PR thanks so much for taking.

The time here appreciate it guys coming up Medicare Advantage rates leaving insurers disappointed but what does it mean for you we've got much more on wealth after the break.

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The Biden Administration announcing final Medicare Advantage rates will remain unchanged in 2025 ultimately disappointing insurers who were hoping for a boost but what does this mean for Medicare enroles Yahoo finances Angeli klani has the details we tease this conversation and and it's a big deal for a lot of people who are retired and also.

Even those who are still in the workforce just trying to manage some of the moderating costs of healthcare that's right so what it really means for these enroles is that it could down the line especially for next year impact what the benefits are in those Medicare Advantage plans now a Medicare Advantage has become highly competitive area for.

Insurers so whether or not they pull back or adjust some of the benefits is what we will wait to watch but as of right now these are future rates so it stays unchanged for right now and the reason why insurers are upset is because they really enjoyed uh sort of a nice little margin from the rates that the government sets and gives back so what.

Are these Medicare rates the Medicare rates are the reimbursements that CMS the centers for Medicare and Medicaid services gives these private insurers in order to cover their enroles and unlike regular Medicare which is a fee for service uh payment Medicare Advantage does some version of value based which is.

Basically an entirely set price per member it's roughly around $1,000 every year and it oscillates a little bit and we've seen some pretty high jumps as more benefits get added to these plans as the rates uh the cost that these insurers claim goes up because of those added benefits you can see uh in the last several years alone you know for.

2023 for example an 88.5% jump in rates one of the highest because of how robust these plans are more than 50% of Medicare eligible uh individuals in the country are on a Medicare Advantage plan because of how awesome those benefits packages are so that's sort of where we stand on this whole situation why it's a point of concern right now for the.

Insurers looking at how to maintain those margins that they have you mentioned the insurers why did the administration then take this action despite insurers saying that they on their side need higher reimbursements well that's exactly why because they've been enjoying this uh this you know really good margin you know look if you.

Look at the cost over the years there have been studies even the government itself has done studies looking at what the actual payout is versus what the insurers are getting so if you think about the ACA for example which set that insurers have to pay out at least 80% of premiums that they take in similarly these insurers aren't necessarily having.

To pay out as much as it's been quite profitable for them in some in some areas if you take a look at sort of the larger insur as United Health and Human uh being the two Market leaders in this space with a majority of the market they are the ones who will see those increased cost Trends because they have so many more uh members in terms of.

Volume and you've seen smaller players The Independents uh like Clover and the like saying that they they saw what CMS saw which is not much of a rise in utilization and rates in Q4 of last year and so that is where CMS is saying hold on a second we need to pull back we've been you know giving you a lot of money to do a lot of stuff sure and we we'll.

See if you can survive off of this because there were a few years ago where you know the government was looking at why everyone was suddenly jumping into Medicare Advantage it was such a fun area to get in and why because the rates were so good yeah good times rolling unel thanks so much for breaking this down for us and all the latest movement.

On it we've got more wealth on the other side of this short break it's a jam-packed hour focusing on the biggest movers and shakers on Wall Street this is Market domination and here every day is game day we have 1 hour left until the market close it's game time for investors to make their final plays the clock is.

Ticking and we've got you covered with our quarter by quarter Playbook we're bringing you in on all the market action with stepbystep analysis of our biggest trending tickers and expert insight into the day's biggest headlines we'll bring bring you the closing bell and get you to the Finish Line This is Mark domination tune in Daily from 3: to 4:00.

P.m. Easter.

up yeah shares of Spotify popping as little mama would say on news that it's raising prices in several key markets for a.

Second time the year that's according to a Bloomberg report joining me now on this our very own Alexander Canal hey Ali what do we know yes so according to this Bloomberg report Spotify is going to increase prices by about1 to $2 in five different territories that includes regions in the UK Australia and Pakistan and then for us subscribers they're.

Going to see price hikes later this year I did reach out to Spotify for confirmation on this report they declined to comment saying they had no news to share at this time but Spotify is one company that's consistently faced pressure to raise prices they are the leader in audio they have a lot of price elasticity Wall Street pretty much.

Believes that they have the pricing power to continue raising the cost of those subscriptions especially since we consistently see growth in those monthly active users and premium subscribers we did see Spotify raise prices toward the end of last year by1 to $2 in the US depending on the plan uh at the time Spotify CEO Daniel e said that the.

Ability to raise prices was just another toolkit in the company's push to really improve their margins and that's something that Wall Street analysts have said that if you raise prices you're going to improve those margins and eventually reach profitability Spotify has uh you know they poured a lot of money into their podcast business now.

They're pouring a lot of money to the audiobooks business so according to this report from Bloomberg the price increase is going to help alleviate some of those cause pressures as they continue to expand their audiobook um uh arm the business but you know that just means we're going to have to pay more which is not great yeah it's going to impact some.

People's wealth out there I mean you think about how much people buy into the subscription economy theard whether Rising prices will actually kind of moderate the number of subscriptions that people are willing to have I mean has this caused a dent in that thinking to this point well that's sometimes why when we hear about price increases we.

See stock prices actually fall because there is concern that that's going to impact the amount of subscribers now we're seeing price uh the stock rise high is more than 5% so I think largely investors are shrugging off that again we consistently do see uh the company add premium monthly active users they have new features that they're.

Consistently rolling out so they're pretty much testing the bar to see how far they can go to raise prices before we start to see a pullback in those numbers because quarter after quarter they usually beat those Wall Street consensus estimates if we see that reverse I think they'll probably take a closer look in how much they can.

Actually raise prices so it's up to the consumer to really not sign up or not pay for these Services yeah consumers that are trying to manage expenses here all right so we'll certainly see how this impacts Spotify stock as well as you the subscriber out there allly thanks so much thank you a new bullish call from NM the investment firm.

Initiating coverage on Sofi with a buy rating and slapping a $10 price Target on the stock there you're taking shares trade at about 7 $744 the analyst behind the call says that Sofi has effectively built a better mouse trap as a digital lending platform this comes at a time when there's been more bears than Bulls on the fintech.

Stock shares they are up by about 3 and a qu% on the news right now well we're wrapping up today's show tune in at 11:00 a.m. eastern tomorrow where we'll talk the credit card debt explosion an expert weighs in on the best way to tackle any debt that you may be in and I get the playbook for wealth building from Black Ops basketball founder Chris.

Brickley take a look at the sneak peek of that interview with Brickley most trainers you have to rely on the player so you're constantly asking the player hitting them with an invoice and that's not the most comfortable thing to do especially when you're friends with them and so I was like okay I need to figure out a way to.

Make an income make some money without having to be like Carmelo can I have some money blah blah blah even though I know I'm doing the work uh so you know we started hitting up these Brands and it started off with Puma I was the first trainer with a sneaker deal have my own sneaker I like your Pumas uh some great Pumas right there how you go Gremlin.

Status with it I like those I like those um so I that was the big like that's like the to get a sneaker deal that's like the the main deal yeah had to get those Gremlins in the shot anyway you'll get much more of Chris brickley's Keen insight and basketball expertise plus how he built wealth for himself full interview later.

On this week that's it for now I'm Brad Smith thanks for watching.

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