Whetro Morning Market Update June 24

Oil prices drop, stocks rise, and a possible cease fire is in place for Iran-Israel conflict. Tim takes a look at what that did to the Market and rails against the move from cash to card. 

Episode Transcript

Speaker 1 (00:01):
Fred, I'm fantastic, but you've just poked the tiger. Oh
you're talking about the tiger. You are talking about making
us use cards instead of cash, my pet, Peeve, I
am so disgusted by we're being let around by the nose.

Speaker 2 (00:18):
Isn't that crazy?

Speaker 3 (00:19):
And then if you charge, if you show up at
this place, you have to take your cash, put it
in the machine, get a card back, and they're gonna
make you pay three.

Speaker 2 (00:32):
Dollars and fifty cents.

Speaker 1 (00:34):
Somebody's making I need to buy off things.

Speaker 2 (00:36):
Can you please get me invested in ATMs before the
day is.

Speaker 1 (00:40):
Up with Fred? I do not know why our government
isn't going at these companies Visa Massa card. They all
I go to the restaurant, Well, we're gonna put an
extra two to three percent on there if you use
your card. They're forcing us to do it. Now they're
billing us and we're giving money, they're charging us to
use it. Yes, I carry tom Lance. I carry cash
every day, all money in my pocket always. I've been

(01:02):
into a restaurant, restaurant, I've been in a place the
machine didn't work. I had to use cash. Thank goodness,
I had it.

Speaker 2 (01:07):
Yeah, yeah, I just start doing that it cause this
is just nuts. And especially I don't mind, you know,
fifty cents to get my money out of the machine
sometimes because it's a different machine from the bank. You know,
it's not my bank if I'm someplace out of town.
But three dollars and fifty cents to change my own
money into a card of my own money, I don't.

Speaker 1 (01:30):
Yeah, it just it burned me beyond belief. But this
is what they want. Now. Remember over a year ago
they came out and said the I wrested, Well, if
you move five hundred dollars in your bank, the bank's
gonna have to know. We all went nuts. Yeah, we're saying,
oh my gosh, they're going to track us that much
if we go cashless, every penny you spend they'll know. Yeah,

(01:54):
every penny they'll track it. Anyway, I'm done.

Speaker 2 (01:58):
Take a deep brown breath. All right, Now, let's talk
about let's talk about the stocks rally. Oil tumbled all right,
which is good stocks rally because again emotion. The emotion
this time around was hope. They're hoping that things are
not going to be as bad as they thought. And
with the announcement last night that there was a ceasefire

(02:20):
coming all right, within the next twelve hours or so,
things are probably going.

Speaker 1 (02:25):
To settle down.

Speaker 2 (02:25):
Today it sounds like what happened yesterday.

Speaker 1 (02:28):
Yeah, you bet you. The barre of oil of tumbled
seven point two percent, so it's sitting right now the
regular bear voice sitting sixty six fifty one, So that's good.
They're they're thinking this this. You know, ceasefire is going
to help with things. Everything that has happened isn't as
bad as what everyone thought it could do to the

(02:49):
market or the oil, so things are moving the right direction.
The DAVE was up three hundred and seventy four points,
which is point eight nine percent, s and p F
fifty seven points, which is point nine six percent, and
then NAS a couple one hundred and eighty three, which
is zero point nine to four of a percent. So
we had a pretty good day yesterday. But remember we've
come off of two weeks of being negative, so you know,

(03:10):
it's just rebounding up. That puts our five day to
the positive, so you know things are going okay. If
we look at one of the Fed governor's Michelle Bowen,
she was out making a speech and she says, Hey,
you know, if inflature just stays where it's or drops
a little bit more, you know, we could cut rates
in the next meeting. Yeah, it's bad. So I thought

(03:32):
I was excited to see that. The next FED meeting
is July twenty ninth and thirtieth. So all right, so
that's now that are going or not.

Speaker 2 (03:40):
That's two now, two governors I guess they're called or whatever,
who have weighed in on the side of getting these
rates cut. If it gets to be a couple of more,
his Powell's hands is going to be forced.

Speaker 1 (03:54):
It sounds like, well he's getting pressure, pressure from President Trump.
And now it's some of the governors are going kind
of inch in that way too, So you're right, put
a little more pressure on them. But if you look
at the tenures, it's coming down a little bit. It's
four point three four. The two year, which is more
of what the FED talks about. The short term rate
is sitting at three point eight three. And if they

(04:15):
cut that could stimulate because again, if I go out
and borrow money for short term, I can get a
little less, give me more money less that I have
to spend unless I go to put my money into
a card. Then they'll charge me three dollars. But anyway, sorry.

Speaker 2 (04:30):
Let it go.

Speaker 1 (04:33):
I can't, Brad, I can't. It drives me crazy. But
if we look at the economic calendar today, we have
another well, we have the Cleveland Fed President Beth hammocked.
She's going to speak today at nine fifteen. But at
ten o'clock we're going to have consumer confidence number coming.
Ah be interesting and yeah, and Powell's going to speak

(04:57):
today Tess Spice to the House Financials Service Committee at
ten yeap go talk today.

Speaker 2 (05:03):
All right, so by four o'clock this afternoon, things could
look very very different.

Speaker 1 (05:09):
Well, right now, our futures are pushing up and looking
good right now. One of our big stock movies yesterday
was Tesla. Okay, jumped eight point two percent, so it
had a good day. That's pretty nice.

Speaker 2 (05:20):
Well, let's hope for a good wetro Wednesday, which is tomorrow.
And if you need to get a hold of Tim
before then four one nine eight two four thirty three
hundred timw at wetroadvisors dot com or on Facebook. Advisory
services are offered through Capital Investment Advisory Services. LLC Securities

(05:42):
are offered through Capital Investment Group, a member of Fenra
SIPC