Whetro Morning Market Update Dec 17

Two of the three indexes saw losses. Big oil was the weight on the market. Tim has details.

Episode Transcript

Speaker 1 (00:01):
How are you, mister Wheetrow fantastic Uto Wednesday, love you.

Speaker 2 (00:08):
Of course I've got I've got a whole month, I've
got Frebuary. You've got fifty two weeks out of the year.
And now we trolly. I'd say we're doing those calendars.

Speaker 1 (00:20):
I think we're doing okay well.

Speaker 2 (00:23):
Slips. According to the headline, oil prices keep dropping. And
there's good news and bad news in the fact that
oil prices keep dropping. So let's get into it. Let's
get what the numbers are yesterday, and especially the reports
that came out yesterday.

Speaker 1 (00:41):
Yeah, the reports came out yesterday kind of left us huh, okay,
you have good news, you have bad news. You have
a US employment rate going up from four point four.
They were expecting four point five percent. It came in
at four point six. Now, remember what the Fed told
us two years ago, we need employe or we need
employment and you know we need that number to go

(01:01):
up more pain for us before they cut rates. Well
they've started cutting rates, so hopefully this will help us.
Hourly wages went down a little bit. Was a point
four last month. They were expecting point three. It came
in at point one and we need higher income because
the affordabook ability is what we're all talking about. Income
is going to help offset those rising prices. Retail sales

(01:25):
came in a little flat or sales minus autos, I
should say that one came in a little higher, so
it was point one expecting point two came in at
point four. So bad news unemployment. Retail sales in October
and we were a little bit better. So here we
go into market. That Dow was down three hundred and

(01:45):
two points point sixty two of a percent. That's the
p five hundred down sixteen point twenty five, which is
point twenty four of a percent, and the Nasdaq up
fifty four points, which is point two three percent. So
that tells us, okay, what was really driving the market? Well,
tech bounce back a little bit, Oracle rose two percent,

(02:07):
Broadcom added point four, Coal weave it fell three point nine.
But what was hit you mentioned earlier? Oil companies with
APA stock down five point two, they sound like uh
tech companies Bred Marathon sank four point seven, Halliburton off
four point three. I know, I understand, but I do

(02:34):
like I know those prices are going down. We talk
about almost every day. I love where the gas prices are,
so you know that helps us afford dit to drive
around and get our Christmas presents if you're not done,
which is I'm not. So I'll be driving around supporting
the economy absolutely next couple of days.

Speaker 2 (02:52):
And I'm and I'm even with gas prices just low,
with the Heiden, with the Nero, I'm still I'm still
yanking about forty six miles per gallon, which is just
it's nuts, man, it's just nuts.

Speaker 1 (03:10):
You were smart going with that hybrid. I like that
concept because you got to gas. You just can't plug
in for whatever time it takes down to charge. And
I've lost the track of what we're doing. Every one
while I do hear battery news that, oh hey we
can do this in ten minutes. You know, you hear
a little drips on it. So I don't know where
they're headed with that now. I just saw something about
tiny cars coming out. Don't know much about what they're

(03:33):
talking about, but they said they'll run an electricity gas,
but they're more affordable, smaller. I'm I'm not sure where
we're headed with that.

Speaker 2 (03:43):
I know what you're talking about. I read an article
actually odd that you mentioned that yesterday. It might be
one of the things the President mentioned tonight. But they're
very small cars, and right now it's like a Mini
Cooper be a little bit bigger. But the problem is,

(04:03):
while they're very popular in Europe and especially Asia, where
the roads aren't nearly as well kept out as the
storys are, it's not big. And we like big, we
like s u vs, we like big pickup trucks. These
things are not going to go over well here.

Speaker 1 (04:22):
It has to be huge. I mean, I don't know
if that's on your card, but I bet tiny cars
you should put it on your show. Thanks for the suggestion.

Speaker 2 (04:31):
What else are we looking at from yesterday?

Speaker 1 (04:35):
Well, yesterday, If I look at today, we have zero
government reports coming out, but we do have some mornings
still coming out. You know, here we're towards the end
of the last quarter, but we have Micron coming out
after the bell. We have General Mills coming out this morning.

Speaker 2 (04:50):
All right, well, and then tomorrow we pardon me, tomorrow
we do have a government report though right thursday I thought, oh.

Speaker 1 (04:58):
Yeah, we do tomorrow. We have the CPI coming out,
and I like, how I read some of these articles
that these people put out to see how bad inflation is.
I mean, be a little positive, you know, not nine,
So we'll see.

Speaker 2 (05:16):
It could be worse, right, it could be a lot worse.
It could be a lot worse. All right, Thanks man,
I have a great retro Wednesday. We'll talk to you
tomorrow morning. If you need to reach out to Tim
before that four one nine eight two four thirty three
hundred timw at retroadvisors dot com. You can also find

(05:37):
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