Whetro Morning Market Update July 30

A dip on Wall Street Tuesday as investors wait for the Fred decisiion today on interest rates along with other economic reports and earnings.

Episode Transcript

Speaker 1 (00:00):
How are you, mister Wheetrow Fred?

Speaker 2 (00:02):
It's my day?

Speaker 1 (00:06):
How can you not be good on a day named
after you?

Speaker 3 (00:10):
I'm gonna have to work something out so that I
get Maybe maybe I'll start calling it Fred Day every
Friday as we head into the weekends.

Speaker 1 (00:18):
And you had a pretty good day actually.

Speaker 3 (00:20):
Now, stocks took a little bit of a dip, but
they had set records all right, like the last five
or six days in a row, so a little bit
of a dip is not unexpected. Let's take a look
at some of the numbers and stuff and what happened yesterday.

Speaker 2 (00:36):
Yeah, I'll give you some of the numbers, but we
also have the economic data coming out. We have a
lot of big news starting today coming out. We're gonna
have the Fed give their decision on interest rates. We're
gonna have the GDP coming out, the ADP report, So
that's your employment stuff. Thursday, we have initial jobless claims

(00:57):
and so much more coming on that we'll talk about
even tomorrow or later on today. So always keep your
eye on what's going on today, and that can those
things can move the market. And yes, we've been on
like a six day run of good things hitting new
records a little bit. But yesterday the Dow finished down
two hundred and four points, which is point four to
six of a percent, but the five day is up

(01:20):
point two nine. Yes, the p five hundred down almost
nineteen points, which is point three zero to the negative,
but it's five day is up point ninety seven, so
almost a percent. And the NADAC was down eighty points,
which is point three eight, and it's up almost a
percent on the five day. Now, a lot of news
coming out today, so we're going to see a bunch

(01:42):
of moving numbers, I think, and we all are looking
at the FED to keep keep rates the same, even
though they say there's a couple of them rumbling that say, hey,
you know, we think you might cut as Trump is promoting.
But are they just standing in line saying, hey, poll lease,
we might want to take that position, you know, and

(02:04):
be up for the nomination. So we'll see about that.
But we had yesterday the consumer confidence number, and it
beat on expectations, but there's also something rumbling underneath it,
the present situation index and the expectation index, and that
was up a little bit, but it's still below its

(02:24):
point where they say expectations ullane remained below the expectation
of eighty. It came into seventy four point four even
though it was up. That typically typically signals a recession.
I had the six consecutive months, so you know, here
they're rumbling again with oh, you know, that could be
a recession. And whether they tell you it's coming out

(02:45):
today the GDP what we talked about yesterday. If that
thing comes out negative, you're never going to hear the
end of it. But they're expecting it to be positive.
But I am very curious when we're going to see
that number today. And like I said, I'm holding that
piece of paper when we talked about it. Well, does
anything meet him with a baseball bat?

Speaker 3 (03:05):
Does anything else that we've heard already give investors a
hint as to what the GDP should look like? Any
of the sales or consumer price index, or consumer confidence
or any of the earnings persons, any of that stuff
give you an idea of where it should be.

Speaker 2 (03:24):
Well, you got to look at these earnings coming in,
and we've had decent earnings. But some of these companies
are still paying the price because they're they're talking about
where we're going. But we had ups that sank yesterday
ten point six percent, and I truly think and you know,
I'm not doing any analysis on the stock. I'm just
driving around and seeing more Amazon trucks and I see

(03:44):
UPS trucks. But you know, Ups still have resessed to
us a lot, So I don't know what's rumbling underneath.
But Mert dropped one point seven. But we did have
Sofi technologies that climbed six point six. We had Cadence
Design System which came in the day, which a gain
of eleven point one. I love a comment before that.
One way companies can camp down such criticism as to

(04:07):
driver solid growth in profits. Both it's not easy, Well
I do it? Who fights this stuff? Yeah, tim, if
you're gonna do better, you just gotta do it.

Speaker 1 (04:18):
Yeah, you just got to do it, that's all.

Speaker 2 (04:21):
Yeah, it's that easy. That that way we get as
good earnings and we just do it. Fred, again, it's
going back to feelings and how what you think, then
what you do, and again then we get back to
motions move the market.

Speaker 1 (04:36):
That's true. That's very very that's very very true. Now
Powell will make his announcement today. Do we know do
we have a timeline, Yes, we do it.

Speaker 2 (04:45):
Two o'clock, he comes uncertain talking two o'clock.

Speaker 3 (04:48):
All right, two o'clock, and there's been no indication other
than what people think is going to happen.

Speaker 1 (04:55):
But he hasn't whispered anything or any of that.

Speaker 2 (04:57):
Right, there's still us. Maybe he's going to keep at
the same. At two o'clock, two thirty, he'll start talking,
and that's going to be the important part. Okay, Yeah,
closation towards September.

Speaker 3 (05:07):
Will the market react in that final hour hour and
a half you think it was too late to do anything.

Speaker 2 (05:16):
That market moves a lot between three and four o'clock,
and it's going to be just based on what he says.
And again, we have more earnings coming out, the GDP
come out, there's personal superbees, pending home sales coming out.
A lot of things happening today.

Speaker 1 (05:31):
All right, well, we'll keeping on them.

Speaker 3 (05:33):
Hopefully the good luck of a whetro Wednesday will give
us some good numbers.

Speaker 1 (05:37):
We'll find out tomorrow morning.

Speaker 3 (05:38):
If you need to reach out to Tim before that
four one nine eight two four thirty three one hundred,
Tim w at wee Trolladvisors dot com. They're also on
Facebook and on LinkedIn and you can sign up for
their free weekly newsletter that week and keep track of
everything that's going on. Advisory services are offered through Capital

(06:03):
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