Whetro Morning Market Update April 12

  An upday for the Street, Tim has all the details and what to expect for today

Episode Transcript

(00:00):
Time, six thirty six, Timefor a little conversation with Tim Wietrow from

(00:04):
Wietro Wealth Management about the stock market, which yesterday, according to the headline,
got a little bit of a reboundfollowing the slide that we saw earlier
in the week. Big Tech onceagain leading the way. Tim, How
you doing this morning, Bud.You're feeling back to one hundred percent yet
I would say ninety two percent.Well that's not bad. I'm almost there,

(00:26):
all right. Yeah, you sounda lot. You sound a lot
better than you did earlier in theweek. I'll give you that. Yeah,
it's that. It's that whiskey andhoney. Yeah. And the news
was good too, So that's gotto put you in a good mood.
Good news always makes you feel better. We took a big jump on Thursday,
mostly from Big Tech. Give ussome numbers and give us some details

(00:47):
on those reports that came out yesterday. Yeah, that's exactly right, Fred,
But the dal was basically flat.But it lost two point four three
points, just point zero one ofa percent, so it was well,
it's only thirty stocks, not motivefull of tech. Now we have the
S and P five hundred being druggedaround by the tech it was up thirty
eight points zero point seven four percent, and the big one was a NASAC

(01:11):
set a record again at two hundredand seventy one points. Wow, one
point six eight percent. And what'sdriving that. We keep saying it and
saying that. Navidia, you know, was up about four point one.
We had Apple coming back at fourpoint three percent yesterday, so you're right,
big tech led the way. Whenwe look at the different sectors of

(01:33):
the SMP, Yeah, Information technologieswas up two point three six percent,
Communication services was up one point onefour so yeah, they really really started
bouncing back. Yeah, but ifwe look at I want to bring us
back to the week this week thatwas off one point one four, Asks

(01:57):
up one point one nine. TheSMP is down point one zero. So
we'll see what's going to happen today. Earning season. We've already had black
Rock come out, they beat bothsides, so we're winning on some other
big banks coming out this morning tosee, you know, how it could
move the market. But again,it's all going to come back to interest
rates, yeah, and we're notgoing to have anything any big moves on

(02:22):
those for a while, probably noteven in June. If if what I'm
reading in the news is correct.Now, is there a report also coming
out today? Usually these inflation reportscome one right after the other. Yes,
today we have more information coming out. We have consumer sediment. So

(02:45):
nothing major major coming out after whatwe had yesterday, which was the PPI
and that's the wholesale level, andit ticked down just a little bit,
okay, so than what they expected. So it still goes back to where
the CPI came out and it wasup a little bit. So it puts
a little you know, they're notcontrolling inflation like they thought they would.

(03:07):
And it was interesting I saw thismorning on the news that President Biden comes
out, well, the interest rate'scoming just maybe a month or two behind.
I don't know how he can saythat he doesn't control the Fed,
right, trying to put pressure onhim. Yeah, yeah, it's very
interesting what he came out with.So, but I want to I want
I got apologize to everyone. Yeah, I'm reading an articlemquing rent the runway.

(03:31):
What Yeah, I know, andI'm going and I apologize. I
should know all this. You know, I don't know all the thousands of
companies in the in the stock market, but rent to own. I guess
you can go out and rent clothingdesigner you know, designer clothing that yesterday.

(03:53):
Yeah, this is a company thatdoes that. Now, yesterday it
was up one hundred and sixty one, almost one hundred and sixty two.
How does it go that high?That's crazy? Fred I looked. I
looked at a chart, and itcame out to the market around the end

(04:13):
of October. Okay, it waslike three hundred to four hundred, you
know, three hundred and some dollarsthis chare. Yeah, it's training to
get nineteen thirty eight. It's howit closed yesterday pre market it's down.
So I go, okay, what'sreally going on here? As far as
year to date, it's up eightythree. But let's really look, you
know, open the hood. Theone year's down sixty eight point two three.

(04:34):
Okay, so this one sixty oneisn't. Yeah, I don't even
know how I would order the designerclonings to where you know, yeah today
it works. Well, you knowwhat it probably is. It's probably these
you know, they call them influencers. And so you go in, you
rent some Blancia or you know,Armani or whatever you put it on.

(04:58):
You take a picture of yourself infront of the Eiffel Tower, you know,
make it look real, and thenyou post it. Oh, I'm
in France wearing Balancia. I'm havinga wonderful time. And the whole thing
is fake and there are people outthere who believe it, look at it
and think, Wow, their lifeis so much better than mine, and
it's not. They're renting their designerclothes, right, they have to turn

(05:20):
them back in. It's yeah,it's it's nuts. But Carmex came out,
they missed on their earnings and revenue. They slid nine point two.
Okay, words, what else iscoming out today? Which we had?
What is it? JP Morgan comingout earning season? Yeah, I get

(05:43):
them all here. So it soundslike you're going to be a busy man today