EARNINGS AHEAD, I'M JOINED BY
JASON ROB AND HIS ADVISER OVER
AT PACIFIC ADVISORS.
JASON GREAT TO HAVE YOU HERE
WITH US THIS MORNING MARKETS
OPENING LOWER TO KICK OFF THE
WEEK THIS COMES AFTER LAST
WEEK, THE FIRST UP WE ARE AT
LEAST TO THAT SCALE THAT WE
HAVE SEEN IN QUITE
SOME TIME. SO WHAT PARTICULARLY
IS DRIVING THIS DOWNWARD
MOMENTUM THAT WE'RE SEEING TO
KICK OFF THIS WEEK.
>> WHERE'S MY FUNFETTI FIRST OF
ALL MEAN I WASN'T REALLY FOR
THE SECOND OF AND YOU GET SOME
FUN FACT HAHA THIS IS NOT THE
PRIMARY FACTOR BUT IT IS A
PROXY IF YOU WILL FOR WHAT'S
GOING ON IN THE WORLD SO LIKE
FOR EXAMPLE. YIELDS IN THE U K
HAVE SHOT UP THE FASTEST SINCE
THEY HAVE SINCE
2000 10 BECAUSE TRADERS OF
FRONT RUNNING A POTENTIAL
INCREASE IN INTEREST RATES NOW
AGAIN BANK
OF ENGLAND. NOT GOING TO DRIVE
THE WHOLE WORLD, HOWEVER, IT IS
A PROXY FOR WHAT'S GOING ON IN
THE WORLD REGARDING SCARES OF
INFLATION. US INTEREST RATES
STARTING TO GO UP RELATIVE TO
WHERE THEY WERE BUT THE PAST
SEVERAL I THINK
THIS BUZZWORD IS NOT A BUZZARD
ANYMORE. IT'S JUST A REALITY OF
HIGHER PRICES SUPPLY CHAIN
CRUNCH INFLATION AROUND THE
WORLD AND WITH THE STOCK MARKET
ONLY A COUPLE PERCENT BELOW THE
HIGHEST LEVELS IT'S EVER BEEN
IN HISTORY. I THINK PEOPLE ARE
STARTING TO THINK WAIT WHY AM I
BUYING UP HERE SO I THINK THAT
YOU KNOW WE'RE SAYING TO SEE
SOME SHORT-TERM PROFIT TAKING
HERE YOU MENTIONED SUPPLY CHAIN
YOU KNOW HOW MUCH COULD THAT
PERMEATE OVER INTO THE ACTUAL
RESULTS FOR COMPANIES THAT ARE
PERHAPS
REPORTING EARNINGS THIS WEEK OR
IN THE NEXT FEW WEEKS THAT ARE
LOOKING TOWARDS THE HOLIDAY
SEASON. WHEN YOU THINK ABOUT
THE FORECAST AND THE GUIDANCE
THAT WE'RE GOING TO RECEIVE
HOW MUCH DO THEY BEGIN TO OR
ALREADY FACTOR IN THE SUPPLY
CHAIN ISSUES THAT WE'RE SEEING
ACROSS SECTORS RIGHT NOW.
YEAH, I MEAN LISTEN IF YOU
CAN'T GET STUFF TO PEOPLE IT'S
GOING TO BE TOUGH TO SELL IT TO
SO WHETHER IT'S WALMART BEST
BUY OR WHOEVER SELLS THINGS AND
MASS OF PEOPLE EVEN AMAZON FOR
THAT MATTER. AGAIN I
THINK YOU COULD ARGUE THAT
THE MARKET IS OVERBOUGHT
RELEVANT TO EVERY SINGLE FACTOR
THAT'S GOING ON INFLATION
SUPPLY CHAIN PEOPLE
ARE OUT OF THE WORK PEOPLE MORE
PEOPLE QUIT THEIR JOBS BREAD IN
AUGUST AND THEY HAVE FOR LIKE
OVER 15 YEARS,
WHAT'S GOING ON WITH THAT SO
THAT CONTRIBUTES TO THE SUPPLY
CHAIN AS WELL AND PEOPLE ARE
WORKING PROBABLY NOT GOOD FOR
THE ECONOMY
OVERALL SO THE ONLY THING THAT
WILL KEEP THE STOCK MARKET
GOING HIGHER IS JUST MORE
ROUNDS OF GOVERNMENT STIMULUS
AND THERE AND EVEN TALKING
ABOUT DOING THAT SO WE'RE AT A
PRETTY INTERESTING SITUATION
AND DOW JONES IS ONLY 2% BELOW
35,000 WE'RE GOING TO GO
CERTAINLY WE'VE GOT A BIG WEEK
OF EARNINGS THIS WEEK AND
THAT'S KIND OF WHY BROUGHT UP
IN THE LAST QUESTION AS WELL
AND THAT.
>> WE'RE GOING TO BE HEARING
FROM COMPANIES THAT ARE IN THE
AIR THAT ARE SERVICE FOR
SERVICING PEOPLE
FOR LUNCH.
>> AS EVEN INTO SOME OF THE
FINTECH NAMES PERHAPS WITH ALL
OF THAT IN MIND ARE THERE
SECTORS THAT YOU WOULD BE
PAYING MORE CLOSE ATTENTION TO
OR THOSE THAT YOU WOULD BE
STAYING AWAY FROM WITH REGARD
TO SOME OF THEIR EARNINGS
EVERYONE HERE THIS WEEK.
WELL YOU KNOW KIND OF AS I WAS
WRITING IN SAYING THAT SOME
FOLKS YOU KNOW I THINK I'M
NOT A LONG-TERM BULL AND
NETFLIX I KNOW THAT'S A MAJOR
COMPANY THAT'S THAT'S REPORTING
THIS WEEK. I AM A LONG-TERM
BULL IN TESLA I
MEAN LISTEN. I'M JUST JOINING
THE BANDWAGON AT THIS POINT I'M
NOT SAYING ANYTHING EARTH
SHATTERING AS FAR AS BEING
BULLISH ON TESLA BUT THE FACT
IS THIS TESLA'S BACK IT ALMOST
900 IT'S PROBABLY INEVITABLE.
IT'S GOING TO HAVE A 1000
THAT'S GOING TO BE A BIG NEWS
EVENT S LED A 1000 ELON MUSK
WORTH A TRILLION DOLLARS WHO
KNOWS. BUT ON THE YOU KNOW
TESLA HAS HAD ALL JUST
COUNTLESS UPSIDE SURPRISES
WITH WHAT ELON MUSK AND COMPANY
HAD CONTINUE TO DO A TESLA NOW
AROUND THE WORLD MAKING CARS
IN CHINA. SO I THINK
TESLA IS IS VERY BULLISH LONG
TERM NETFLIX AGAIN JUST TO
POINT OUT A COMPANY, YOU KNOW A
BIG COMPANY
THIS WEEK. THEY MAY HAVE AN
UPSIDE SURPRISE IN EARNINGS
LAST QUARTER WAS SO BAD
BUT OVERALL THERE'S THERE'S TOO
MUCH COMPETITION FOR NETFLIX TO
CONTINUE TO GO YOU
KNOW YEAR-OVER-YEAR CHINA'S GDP
SLOWING TO
4.9%. THE SIGNIFICANCE OF
THAT CONSIDERING THE NUMBER OF
US COMPANIES THAT HAVE BEEN
TRYING TO GET INTO THE REGION
ARE CITED AS A GROWTH STRATEGY
FOR THEM WITHIN THAT MARKET
BUT AT THE SAME TIME ANY
SLOWING OF THEIR GDP CERTAINLY
GOING TO IMPACT SOME US NAMES
MORE THAN OTHERS PERHAPS.
WELL YOU COULD ARGUE THAT
REDUCTION IN GDP OR AT LEAST
THE GDP MISS BECAUSE THAT'S
THAT'S WHAT IT WAS IS IS NOT A
CHRONIC THING AND IF IT'S NOT A
CHRONIC THING
THEN THAT'S NOT GOING TO YOU
KNOW EFFECT THE STOCK MARKET
OVER THE NEXT YEAR TOO. IT'S
JUST IT'S JUST AN ACUTE
SITUATION.
FOCUSED AND THAT THERE'S THIS
MAJOR ELECTRICITY POWER GRID
CRUNCH
IN CHINA. THAT THEY'RE TRYING
TO ROLL BACK AND YOU KNOW ADD
MORE INVESTMENT IN COAL AND
EVERYTHING LIKE THAT SO YOU
KNOW AGAIN THERE'S A LOT GOING
ON WITH HIGHER RATES OBVIOUSLY
THE EVERGRANDE SAID YOU KNOW,
THAT'S THAT'S THE ELEPHANT IN
THE ROOM THAT I HAVEN'T QUITE
MENTION YET. HUNDREDS OF
BILLIONS OF DOLLARS IN DEBT.
YOU KNOW A LOT OF SMART PEOPLE
ARE SAYING THAT THAT'S NOT
REALLY A RISK TO THE UNITED
STATES CHINA CAN WIPE THAT
SLATE CLEAN JUST WITH THE PRESS
OF A BUTTON ADD BILLIONS OF
DOLLARS
IN STIMULUS I DON'T THINK CHINA
IS A MAJOR FACTOR AT THIS POINT
INTERESTING ENOUGH AS AS AS BIG
AS
IT IS YOU KNOW WHAT WE HAVE YOU
I DO WANT TO HEAD ON BITCOIN
BECAUSE THAT CROSS $60,000
ON FRIDAY. OPTIMISM THAT THE
SEC CRITIC FOR THE VERY FIRST
BITCOIN FUTURES EXCHANGE TRADED
FUND THE LIKELIHOOD OF US
ACTUALLY GET TO TUESDAY NOW
BECAUSE WE
KNOW THAT THE LISTING ITSELF
TARGETED MONDAY AND THEN THE
ACTUAL TRADING LOOKED LOOKS TO
BE FOR TUESDAY HERE AND WE'RE
TAKING A LOOK AT BITCOIN HERE
ON OUR SCREEN
TO SEE EXACTLY THE SAME PLACE
OVER THE PAST 2 DAYS WITH SOME
OF THIS FANFARE AND EXCITEMENT
GOING INTO THIS MILESTONE EVENT
YOU KNOW WHAT DOES THIS SIGNAL
TO YOU ABOUT THE APPETITE FOR
THE SEC TO ACTUALLY CONTINUE
ITS REVIEW OF SOME OF THE
APPLICATIONS THAT HAVE BEEN IN
FOR YEARS NOW
FOR A BIT ATF, EVEN THOUGH THIS
IS GOING TO BE MORE FUTURES AND
PRICE FOCUSED AT THIS POINT IN
TIME.
YOU KNOW, IT'S OBVIOUS, I MEAN,
OBVIOUSLY IT IT IT SPEAKS TO
WHERE BIG POINT IS THAT FROM AN
INSTITUTIONAL APPLE.
>> HAPPENED 10 YEARS AGO YOU
HAD MY NOSE IN THE BASEMENT.
>> WRITING LETTERS TO THE SEC
GOING FOR A BITCOIN ETF AND NOW
YOU HAVE BLACKROCK'S MORGAN
STANLEY JP
MORGAN CHASE GOLDMAN, SACHS
CLIENTS, WANTING EXPOSURE BIG
POINT SO THAT KIND OF MAKES IT
MORE LIKELY THAT THE SEC IS
GOING TO TAKE THIS MORE
SERIOUSLY IN OBVIOUSLY THEY
HAVE SO EMOTIONAL BIG WANT TO
TELL ME THAT THEY'RE AGAINST