What is going on with the stock market right now?!?

Episode Transcript

Speaker 1 (00:00):
I was gone last week. My name is Emory. By
the way, Hi, if you're tuning in for the first time,
talk about stock markets here momentarily. But the storm last
Wednesday was quite the crazy thing. I missed it. I
actually missed this one. Did you miss me on the
storm coverage?

Speaker 2 (00:13):
It would have been nice to have you there. But man,
we had a full team in here. Scott Voorhees came
in here, and it was myself and Craig Evans, and
then we had callings from Terry Lahey, from Bill Dixon,
you know, and of course we heard from the listeners.
The listeners flooded the phone lines with not only reports

(00:35):
of what they were seeing during the storm, but a
whole lot after. And that was when I got the
first window into whoa this is? This is not a
normal thing, yeah, not your typical severe thunderstorm.

Speaker 3 (00:46):
Here.

Speaker 2 (00:46):
People were calling in just inundating us with calls about
just tree limbs down, roads blocked, all kinds of things.

Speaker 1 (00:53):
Mmmmmmmm. Well I was watching from Afar, and I basically
made the executive decision not to care about it in
Omaha that much because I was just like, what's happening
in my house? Was that tree intact is not healthy.
Fair enough. After it got to like indian Ola where
I was located, and it had dissipated quite a bit,
the strength of it was not the same. That was

(01:14):
the moment where I texted my neighbor and is like, hey,
how's things going over there? And she was able to
kind of walk me through what she saw, including the
giant branch that landed in our backyard. Me, it is
what it is. But I wanted to give you some
updates that we do have based on some information that
we are able to bring you because for basically an

(01:36):
hour earlier in the show, we heard from Mayor Jean Stothart,
Javier Fernandez, who was the CEO of OPPD, and several
others who were talking about the impact of the storm
last Wednesday and what efforts are being made from these
various departments to try to make sure things are back
up and running across Omaha after the big storm. Now,

(01:58):
the first thing is if you do that's like me,
have tree debris that you don't have room for. You know,
sometimes I harvest it into firewood. I don't think I'm
going to do that here. There's just an awful lot
of it and it's just kind of a mess. There
are tree debris drop off sites if you have the
ability to transport it yourself. Here are the sites. These
two specifically are suggested because there's a lot of space

(02:20):
there to handle the tree debris. That's Alvays Park at
sixty five oh six South sixtieth Street, north of Harrison
Street Alvays Park, and also Levi Carter Park at forty
four oh five Carter Lakeshore Drive, and you can enter
there from Abbott Drive, So that's the spot that you
can take that on the north side of Omaha, in
near the downtown area as well. So Levi Carter Park

(02:42):
and Alves Park have plenty of space for you if
you're able to transport your own tree debris. Three other
spots little less capacity Heflinger Park, Greenbrier Park, and a
football field located at F Street in one hundred and
fifty six. According to a bunch of people emailed in,
you should be able to see that as you approach
from F Street or one one hundred and fifty six. Now,
those are the five spots that you can take that

(03:04):
if you can't transport your tree debris. The city says
they will pick it up for you. Picking that up
for you basically means you have to put your tree
debris on this city strip what I would call a
city strip, between the sidewalk and the street. Don't want
it over the sidewalk if you can help it. Don't
want it over the street if you can help it,
but along that city strip. They will start to pick

(03:24):
those things up on Thursday at seven am. They will
be doing this seven am to seven pm every single
day until it is done. They will go to every
neighborhood around Omaha until they have that taken care of.
They say it could take upwards of four weeks to
be able to get everybody's situation resolved. Now that being said,

(03:45):
if you want to monitor what neighborhoods are being taken
care of, there is a pretty sweet little site that
you can go to. Go to Cityofomaha dot org. Cityofomaha
dot org. On the homepage, there's a green square basically
right at the top of the page that says storm
Damage Cleanup. Click there. When you're the damage cleanup site,
you're going to be seeing all this information I'm telling you,

(04:06):
But there's also a thing that says for a detailed
map of storm Damage Cleanup. Click here. You click on that,
it gives you the map which shows you all of
the City of Omaha and the spots that are actively
being picked up when they do start picking things up.
The fact that they're picking up stuff on street still
there's a couple of zones there, but you can literally
zoom in and see your neighborhood, your street, whether or

(04:28):
not they're picking up your neighborhood at that moment. Pretty
handy stuff. So you can go onto Cityofomaha dot org,
click on storm Damage Cleanup and then it's a link
right there in the middle of the page. You can't
miss it. Highly recommend you put that in your bookmarks
for the next few weeks while you try to figure
out when your neighborhood is going to get your cleaned up.

(04:50):
But make sure, just in case they start on your
neighborhood or in your neighborhood, you're going to want to
have your tree debris on that city strip no later
than Wednesday nights, so early Thursday morning. It has the
ability to be picked up, even if it will take
days and possibly weeks for them to get around to you.
So that's that now. Oppd outages. They said, over two

(05:11):
hundred and twenty thousand meters essentially families, businesses, places that
have different accounts had power taken out On Wednesday. Ninety
percent or so of that has been restored, and today,
earlier today, at least when this press conference was going on,
they still had upwards of twenty two thousand accounts that
still needed to have their power restored. Matt, have you

(05:32):
gotten the OPPD power update if you will on what
is going on as far as that is concerned right
this moment.

Speaker 2 (05:41):
I do just refresh my screen and we're sitting at
eighteen nine hundred and seventy two still.

Speaker 1 (05:48):
So they were hoping that they would get that down
to roughly ten thousand OPPD customers before the end of today,
and that still may happen. They wanted to make sure also,
and you can go back and find the audio. I'm
sure the video is going to be out there. We'll
probably have it on the podcast page, don't we. We
sure do, so you can go back and listen to
the podcast. As we were trying to decipher this, but

(06:10):
Javier Fernandez specifically, as mentioned the CEO of OPPD, said
it was also some old neighborhoods that are having the
biggest issues because of the old trees that not just
took out power lines, but also took down the poles
or the transformers as well. That all of that needs
to be repaired before they can even think about restoring
power in that regard, So they're working on it. They're

(06:30):
doing the best they can. He also said that there
are roughly fifteen hundred people on the ground to help
restore power, which is five times more than a general
regular day in Omaha. Something to keep in mind. I understand,
not ideal, but they're doing the best that they can
for what has quite literally the most historic damaging storm
that occurred in Omaha. There's never been an outage even

(06:54):
close to this impactful ever, so certainly something to pay
attention to, and we will continue to keep you updated
over the next few days as this continues to develop.
Speaking of developing, the stock market has some very interesting
things happen over the last several days, mostly today though,
when many people recognize that the stock market exchanges were

(07:16):
very very low after soaring high. I don't know how
accurate a depiction this is of our economy, but this
is certainly something we were afraid of that a recession
is on tap? Well, is that going to happen for sure?
And how much did you notice when you were looking
through your stock holdings or even if you could log in.

(07:38):
Some people even told me they couldn't even log in
to their holdings on their stock market apps. I'd love
to hear that from you if you've had any issues
logging in or with your holdings or anything specifically that
is down that you were paying attention to, or what
your strategies are. If you're somebody that likes to play
this game personally, you like to invest in the stock marks,

(07:58):
you like to find stuff that you like to day
trade on, please call us at four oh two five
five eight eleven ten four h two five five eight
eleven ten. You also email Emory at kfab dot com.
We'll talk stock markets next on news radio eleven ten KFAB.
Emory's songer on news radio eleven ten KFAB. I'll give
you a couple of indicators as to why this may
have happened. But before that, I got a phone call.

(08:21):
I'd love you to talk to me about this, especially
if you like to trade and you're familiar with trading
and what you saw in the stock market and what
you're looking at now. Christopher's on our line at four
oh two, five to five, eight to eleven ten. Christopher, thanks
for the call. What's on your mind today?

Speaker 4 (08:35):
Yeah? Hi, I am Marie. Well I was. You were
talking about the market and what people should do or
what people's advice was, and it reminded me. I just
a few weeks ago read a Fidelity study from a
while back where they analyzed the best performing group of
retirement accounts for their people to Fidelity customers, and the
number one group of folks performance live was for where

(08:58):
the account holder was deceased over a ten year period.
Those statistically were the best. The number two group of
performing returns was for people who never logged in or
did not know how to log in. So that just
kind of goes to the old adage, don't try to
time the market, don't react because if you're reacting, the
event you're acting to has already happened.

Speaker 1 (09:20):
Yeah.

Speaker 4 (09:21):
You need to have a you need to have a
strategy you believe in, and you need to stick with it.
And those are the accounts that do the best over time.

Speaker 1 (09:28):
I tell you this, Christopher, I think the I think
the point of this is really strong because you see
the people who really know this stuff, they were pulling
stuff out before Monday, and then when Monday, when everything
opened up, that's when we saw the hit on Wall Street.
But do you are you quite active in what you're seeing, because,
like you said, the accounts of people who aren't even

(09:50):
paying attention are the ones that are doing the best.
Do you pay attention with regularity to kind of the
different stock options or different sectors that are performing well
or poorly in any one time.

Speaker 4 (10:04):
I am an index investor. I buy the indexes. For years,
I played around with sectors and individual stocks, and I
never consistently made me money. And for the last thirty years,
I've bought broad market indexes, set it and forget it,
and I've had amazing performance. And you know, have well
well over a seven figure portfolio at this point.

Speaker 1 (10:27):
That's exciting.

Speaker 4 (10:27):
I mean, I look at it, but don't I don't
mess with it.

Speaker 1 (10:30):
Well now, that was that was my next question. That
was my next question was how often are you just
checking on it? And how much do you change if
you change anything?

Speaker 4 (10:38):
I check it probably more when the market's doing well,
like it has in the last three years. I probably
might look at it tomorrow. I also might not I
check it last when the market's down, But regardless, I'm
I may be lucky that way, because the statistics will
show you that ninety percent of people are selling when
the market's down and buying when the market's up. And
that's exactly the opposite of what you should be doing.

(11:00):
You're a long term investor.

Speaker 1 (11:02):
So what are you doing after watching today or what
would you suggest problem do?

Speaker 4 (11:06):
I may look at my cash reserves and I might
dollar cost average some money in as the market fall,
because you're never going to get it right at the bottom.
But it's definitely lower than it was, you know, a
week ago.

Speaker 1 (11:19):
Right.

Speaker 4 (11:20):
Also, it's not it's you know what is it? A
few percentage points five point six points lower?

Speaker 1 (11:24):
Yeah, it's what. I don't think any of the experts
are calling it a crash by any means, right, I mean.

Speaker 4 (11:31):
The correction would be ten percent down. I don't even
think we're there yet. We might easily get there in
the next couple of weeks, right, but ten percent down,
you know, six months from now, we could be back
in all time hunts.

Speaker 1 (11:43):
It's interesting, Christopher, I really appreciate you calling in. This
is good stuff. Thanks for listening to us.

Speaker 4 (11:48):
Thanks amen.

Speaker 1 (11:49):
Yeah, if you got thoughts or anything. Again, I just
want to reiterate we're not trying to give you any
financial advice here. I think it's pretty common knowledge that
the point of the stock market is to buy when
it's low and sell when it's high. That's how you're
going to make the most money now, strategically learning how
to read the markets in a way. To do that,
usually you need somebody who's got a lot more information

(12:11):
than I can provide. We talked about this. You carrying
stocks around? You got some stocks? Do you even know
what you got?

Speaker 2 (12:20):
I got stock ings. I put candy in various streets
in those in the wintertime. I don't I have stocks
I'm doing okay. I think it's just I don't even
know what they are. Like, I just let the people
who know that I pay money to do that for me.
I'm the same way. I don't even look at it.
You just trust the people that.

Speaker 1 (12:40):
Like, when I get old enough to care and it
becomes like a factor and I have to start thinking about,
you know, like what it would look like for me
to pull that money out for like retirement or whatever.
That's what I'll think about that. You know, fairly aggressive
right now, Bye bye bye bye bye. Sit on it.
I know I got the time for it all to
rebound and become awesome, right That's kind of where I'm

(13:01):
at on it. We did talk about it. It is
certainly a big story, and you've been hearing in our
newscasts and everything. I do think that there is something
to be said for a group of people who probably
are licking their chops that there's something else. There's something
else going on here with the markets and what is happening.

(13:24):
I don't want anybody to think though that I know
what I'm doing here or exactly what I'm talking about,
but I did see somebody try to explain it like this,
There is this thing. This PSALM rule and the PM
rule has been at least for the last fifty plus
years or so, a historically accurate recession indicator, because there

(13:48):
have been multiple recessions that have happened in the last
fifty years. And a week jobs report was kind of
how that occurs. According to Bill Adams, who's the chief
economists that's the Dallas based Kamerica Bank, the July jobs
report was viewed as a recession warning, and these are
just the markets reacting according accordingly, that jobless rate was

(14:12):
not expected to go up, and that kind of put
this thing in play as we see it right now.
So is this a sign of things to come? Is
this a harbinger of things to come? It is quite possible.
This is not just a United States issue. Japanese stocks
did a nose dive. The n K two to twenty

(14:33):
five index closed lower than twelve like lower by more
than twelve percent, the worst day that they've had on
the n K since nineteen eighty seven, and cryptocurrencies were
slammed as well. Bitcoin fell seventeen point five percent. Seventeen
point five percent for bitcoin. Now, I'm sure you bitcoin
guys who we've had many of you talk to us

(14:55):
try to explain what the investment of bitcoin even looks like.
You're still sitting pretty based on when you probably bought
and invested into it. But it's still there's something to
be said. I think for the fact that cryptocurrency took
a bigger nose dive than the Dow actually did, or
you know, any of the American markets, this is going
to be a story that it's going to be watched,

(15:16):
I think for a while, like not just today, but
I think throughout this week and probably in the next
couple of weeks to really see if there's anything up
or down. But there were a couple of things that
got me noticing this even before I woke up this morning,
and I'll explain what those look like next. And by
the way, if you have any thoughts or any observations
about the current stock market situation, feel free to call

(15:37):
in four oh two five five eight eleven ten four
h two five five eight eleven ten News Radio eleven
ten kfab Eh Marie on news Radio eleven ten kfab.
There's a way that we can look at what our
holdings are. But I think the less we know, the
more comfortable we are and not having to like smash
our head against the wall when the stock market goes

(15:59):
down like it did. But we're taking your phone calls
on it. Four Beth is on the line. Beth, Welcome
to the show. What are you thinking about?

Speaker 3 (16:08):
Well, Amory, I'm going to try to just give me
a minute to articulate what I'm going to try to
say the best way that I can and how perspective,
what I've gotten to this point now, and I'm not
saying it's right or wrong, but I try to look
at the stock market as people. It's people and companies

(16:28):
that are producing a product. And there are institutional investors
and there's retail investors, but the consumer. You know, when
you think about this, you know some of these big
companies that made it big, and there's lots of them,
and they started it out small, and at some point
the consumer had to drive that market because that's how

(16:52):
they got big. Because the product that they wanted, everybody
wanted it right, and it became very you know, you
can lots of companies out there like that. Okay, so
then the institutional investors say, oh, you know this is good,
so they get on board too, but the consumer kind
of has to drive that. This is how I look

(17:13):
at it, and I don't know that I'm right. I'm
just saying that's how I look at it. It's kind
of like the gazelle and the bird, where the bird
sits on the gazelle and he, you know, kind of
feasts like that or gets his ride or whatever. Well,
I think, which then it can switch. So then when
they get big, then what happens is the institutional investors.

(17:35):
They drive a lot of you know, they invest in
a lot of the companies, so they move their money.
And I have gotten to the point where I try
to look at what I'm investing in. I think, do
I like that product? Do I like or if I
think something's up and coming, do I think, oh, is
that a good idea? And I don't have to be

(17:58):
an institutional investor, can be a retail investor, and I
don't have to take a big risk, but I can
feel maybe good that that's kind of my way of
voting with my dollar and supporting products or innovation that
I think is good or it may be good maybe

(18:21):
or maybe you know whatever, But I.

Speaker 4 (18:24):
I don't want to take a huge.

Speaker 3 (18:25):
Risk with things. But that's you know, of course, my
father always said, you don't want to lose more than
what you can to lose, right. I look at it
our people and their companies and their businesses, and we're everything.
We're all using a lot of these things. So we

(18:46):
have that choice. And you can invest in a product
that you like, Yeah, you know, that's the and and
that's what it is too. So there's all different ways
to look at things. But We're glad you're back.

Speaker 1 (19:00):
Thanks, Beth, this is great. Thanks so much for giving
us your perspective on this, and we'll talk to you
again soon. Uh yeah, So, I mean what she said
is interesting. I kind of look at that in a
lot of ways of you know, like, if you want
to potentially increase how much money that you are making,
investing is a good option, and there are many different
approaches or strategies that you can take for this mat

(19:21):
If there was ever a time to think about getting
in a little bit more, isn't now kind of the
time for you guys like you and me because things
are down. Yeah, but I'm gonna I'm gonna wait for
them to you know, I'm gonna, I'm gonna, I'm gonna,
I'm gonna, I'm Gonna'm Gonna'm.

Speaker 2 (19:36):
Gonna, I'm gona, I'm an I'm gonna. I'm gonna do
that more, just just for you. I'm gonna wait for
it to fully crash, That's what I'm gonna do. I'm
gonna wait for it to bottom out, and then I'm
gonna buy some rocks because that'll be the exchange rate
after it's fully crashed. Oh, come on, I'll be trading rocks.
Come on, we'll be living in John Lennon's dystopian world

(19:56):
that he painted for that song, basically because if you
look at it, just to grab a topic from Last
Hour for no reason that's to talk about. But if
we really embraced what he wants in his song, imagine, Yeah,
I imagine if we were all cave men and women again,
to go back without government or rules or laws.

Speaker 1 (20:15):
Or religion or any true identifiers. Yeah, yeah, I get
the premise of the song, and that's not really the point.
It's kind of dystopian when you think about it. It's
also kind of interesting too that a stock market crash
is not going to have us trading rocks. Weird. You
know what one bitcoin still costs. It's down almost twenty
percent today. Yeah, it's still like fifty thousand dollars.

Speaker 2 (20:36):
It's still a lot. Yeah, you know, I uh, one bitcoin. Yeah,
you just got to sit on it, you know.

Speaker 1 (20:43):
Well, that's the play, like if you are holding now,
you don't sell now.

Speaker 4 (20:48):
You know.

Speaker 1 (20:48):
There were a couple of things over the week and
when I was like, oh, this probably isn't good. First
thing was Berkshire Hathaway Warren Buffett pulls out a ton
of his stocks, like just sells a ton of them,
like normal amount over the last like decade or so.
It's like, hmm, that's interesting. Sure enough, the markets reacted.
It wasn't just him, it was many people getting out

(21:09):
ahead of what was going to happen. They felt like
with this recession and the uncertainty of what's going on
with Israel and Iran, which is something we'll by paying
more attention to throughout the rest of the week. Trust me,
I can't wait to talk more about that situation. But
here's the other thing here. Okay, I saw that Lockheed
Martin stock was way up. Okay, like that's a military

(21:30):
weapon kind of stock. Now, I don't know who's who's
buying that stuff, but they seem to know more about
what's going on than what we probably do. And this
is why the game of stock markets I kind of
just don't I don't want to know. I know I
need to know, but I just kind of don't want
to know. You see that much growth in Lockheed Martin, Like,

(21:51):
I don't know if in the last twenty four hours
that's continued to go up. Let's let's see here, it's
down a little bit today, so it really bumped up.
Let me look at the five day. Yeah, the five day,
it really took a jump on. It looks like Friday,
but it is not like ultra abnormal. It's been like

(22:12):
over the last six months with all this stuff that's
happened in Israel and stuff. This a single stock June
the twelfth, Are you hearing me here? Yeah, like June
twelfth ish. It's it would have luck keied Martin would
have been four hundred and fifty eight bucks or so
for one share. You know what, it is now five

(22:33):
forty eight Over the last six months, it's up twenty
nine point three three percent over the last year. It's
up nineteen point five percent. In the last month, it's
up eighteen percent. In the last five days, it's up
three point three percent. So it's kind of like, why
is this going up and everything else has gone down? Now,
it did kind of rebound downward a little bit. It's

(22:53):
down less than one percent, but it's still down a
little bit today, and a lot of people are saying
the best saying that you need to be investing in.
And again, this isn't financial advice, because I don't know
what I'm talking about, but I'm just seeing because of
the uncertainty that's happening in the Middle East, the threats
are on has been making the fact that, you know,
if there was ever a time to be you know,
getting more active as while the United States is kind

(23:16):
of in this limbo of what's going to happen in
the election in a couple months or a few months.
Uh's defense defense sector. I don't know, man, it's just weird.
It's a little red flaggy to me. It's not something
I'm super excited to hear, but that's what's going on.
Just keep your eyes open, keep your eyes open all
it's all you can say. Okay, and we'll keep our

(23:37):
eyes open to and we'll wrap up the show. Eyes
wide open, Ears wide open mostly Next on news Radio
eleven ten Kfab Matt Case. Where can people find all
of the conversations that we have had today?

Speaker 2 (23:49):
All you gotta do is log down onto your computer,
open up your browser of choice, and find the Emery
Songer podcast page on kfab dot com.

Speaker 1 (23:59):
M M hmm. Interesting, interesting that that's where you can
find that. Is there anything like I'm still watching a
lot of the Olympic Games I'm not going to be
scared off of doing any of that stuff, because that's
just I don't know. I'm fully entertained by it. I
don't have to agree with the way the opening ceremony

(24:19):
went or about how they're officiating their boxing tournament, but
I do find it too Like did you watch the
one hundred meter dash yesterday?

Speaker 2 (24:28):
Honestly I have not, even I don't think I've caught
any event in the Olympics so far.

Speaker 1 (24:34):
All right, well, Noah Lyles won the one hundred meter
dash the American and it was a photo finish, the
closest one hundred meter dash ever. It's heart pounding stuff.
I even like, you can go on peacock and rewatch
anything in full, which is really awesome, like any event,
like from trampoline to archery to skeet shooting. Watched the
skeet shooting yesterday. Those women are incredible. It's men and women.

(24:55):
But I watched the women's tournament, and I don't know
if you know what skeet shooting is, but you know,
like in trap shooting, they say poll and there's a
clay pigeon and you shoot the clay pigeon. Yeah, ski
shooting is like that, except there's two of them. Oh
like one going one way, the other one going the
other way. You get two shots in like a second
basically to get both of them. I was not very
good at that in duck Hunt. Oh yeah, no, it's

(25:16):
it's like it's way harder than that. Yeah, these they were.
It was so fun to watch. It's really cool. And
then the meme of the Turkish guy that was in
the pistol and got silver in the pistol and the
fact that he's got no like eyewear or no earplugs
or anything. He's just it's just him and his gun
and he's got his hand in his pocket as he's
like lining himself up. He got the silver doing that.

(25:37):
Who needs technology? Just give the man his pistol. What
a shot, right, mm hmm. Yeah. Closing ceremonies are at
the end of next weekend, so there's still like six
or seven days of stuff. And like I said, if
you like, like you know when, I'm looking forward to
watching the break Dancing, which is I think in a
couple a day or two maybe the Breakdancing makes his debut.

(25:58):
It's like dance battles. There's wind Kite or kite surfing
or something like. It's people on like a surfboard with
a kite that's like polling them. That's a new event
to the Olympics this year and the sailing disciplines. How
awesome is that? Yeah, so I'm gonna check check that out.
I just enjoy stuff like that. It's a great way
to stay entertained. We will have plenty more on a

(26:21):
variety of levels that We're going to give you as
much information as we can on the Iran Israel stuff
as that develops throughout the rest of the week. Certainly
we're going to keep you posting on OPPD and the
power situation and more information as we get further into
the week as well. And I'm just glad to be back,
happy to be talking with you. I will be heading

(26:41):
to central Iowa for the Iowa State Fair as well,
so I know a lot of people from this neck
of the woods head over there for the duration of
the fair. I can't wait to see you. I'd love
to see you and say hey to you. Follow me
on social media Amory Songer across Facebook, x, Instagram. Those
are the best ways to find me, and you never
know what we might be up to so until tomorrow
at two o'clock. Thanks so much for listening to us.

(27:02):
This has been Emory songer with my buddy Matt Case
on news Radio eleven ten KFAB