08/01- The week in review

It's been a wild ride this past week with jobs, tariffs, trade and interest rates dominating the news. Coming up on the Jon Sanchez Show, we'll help you digest today's job report and make sense of all the headlines from the week that was when it comes to your money. Plus, does the weak jobs report mean a rate cut is near? The week in review and more today at 3pm.

Episode Transcript

Speaker 1 (00:02):
Good Friday afternoon to you walking to the John Sanchez
Show on Newstalk seven eighty KO, which it's a pleasure
to be with you. Mister God has the afternoon off.
Feeling a little bit under the weather with that dog
gone cold. He's been fighting, so I will be flying solo, folks.
What a day it was? What a day it was?
What a week? It was the beginning of a new month,
not quite the way that we wanted, right we were

(00:23):
coming into the month hitting record highs, a little bit
choppy yesterday, you know, as I told you on the
show yesterday watch Amazon. Those earnings numbers were good, the
guidance was bad, but that was just one of the
many things that we dealt with today on Wall Street.
Haven't had a sell off like this in quite some time.
Matter of fact, the S and P five hundred posting
its worst day dating back to May the twenty first,

(00:46):
the Nasdaq it's worst day dating back to April the
twenty first. So what caused all this? Well, that's exactly
whe we're going to find out. Most importantly, what is
going to be the impact on your money after today's
we'll call it little bit of a market changing environment? Right,
that's pretty much what we're looking at here. A lot
of things change today. Are they going to stick? We

(01:08):
will see. But let me tell you what we dealt
with today. I've kind of broken it down into positives
and negatives, and here they are. Here are the negatives
of today. And I'll tell you the negative list is
significantly larger than the positive list. The negative list as follows.
We had yesterday's announcement after the show of President Trump's

(01:30):
increase in tariffs. We today had weakness and technology again,
a lot of that attributed to Microsoft or excuse me,
to Amazon, and then a few other things that happened today.
We had a terrible non farm payroll number that I'm
going to go into great detail with you on now.
The non farm payroll number. By the way, I'm gonna
give a little hint. This could have been a glass
half full or a glass half empty type of non

(01:51):
farm payroll number. If that wasn't enough. Mid session today,
President Trump decides to fire the commiss of Labor Statistics,
the BLS, doctor Erica mecintougher. I believes how you pronounce
her last name, that's right, The head of the BLS,
the group that puts together the non farm payroll numbers.

(02:14):
You talk about some controversy that's floating around the street. Today,
let's see bad numbers. And oh, by the ways, you're
gonna find out a massive revision. This was July's numbers
that we received today, a massive revision, massive revision of
the June and the May data showed just absolutely anemic

(02:34):
job growth, a little over thirty thousand a month average,
that's it. So they wiped out a significant numbers of
jobs in this report today. So what does Trump do.
He blames it all on her that she's essentially, if
you read between the lines, she's manipulating the numbers, she's
given false data. And oh, by the way, she was
a Biden appointee. So now you understand why he was

(02:57):
not too happy with doctor Erica. So that happened mid
session today. Then about the same time, President Trump decides
that he's going to again go after Jerome Powell for
keeping interest rates too high. Because remember, as we told
you this week when we had the Fed meeting on Wednesday,
remember what Jerome Palell said, folks, Remember what Jerome pal said.

(03:20):
He wants the labor market to soften before he gets
you know I'm going to paraphrase, get serious about cutting
interest rates. Well, let me tell you, mister Powell, you
got your wish. You got your wish with this terrible
non farm peril number today. So now the street is going, hmm,
glass half full, half empty. Jobs market slowing down due

(03:41):
to the revisions due to the data that we just
received for July. What does that equate to? Maybe the
Fed is going to give us our interest rate cut.
Matter of fact, bond yields tumbled today on that news.
And now there's an eighty six percent probability of a
September rate cut. But the street can get accept that, okay.

(04:02):
So then we had Trump come out and I'll share
that with you some of the very harsh words that
he had again against Jerome Powell on true social As
I said earlier, here's the next negative. Amazon's gloomy guidance.
Good earnings report for the last quarter, bad guidance going
forward as far as the amount of revenue that they
anticipate to earn. We have the volatility index what we
call the VICS closing above twenty twenty point three to six.

(04:24):
Anytime you have a closing above twenty, that shows investors
are getting very nervous. And then also mid session, back
to President Trump, he said that he has moved two
nuclear submarines. Don't know where he moved him to. Of course,
after Russia warns the US, he got in a little
bit of a spit and match with one of the
Russian higher ups, and Trump is basically saying, you're messing

(04:49):
with the wrong guy. So he decides to move two
nuclear submarines. Again, where did he move them? Who knows?
We would anticipate moves them closer to Russia. So you see,
all of this was thrown together today, and this is
why we tumbled five hundred and forty two points on
the Dow one point two to three percent, while we
fell apart on the Nasdaq four hundred and seventy two

(05:10):
point lost two point two four percent, and the smp
gave up one hundred one points or one point six percent.
But it wasn't all negative, right, I've got to find
some positives for you. Positives. I got two of them,
number one, As I said, the bond yields tumbling today
down fourteen basis points on the ten year Treasury to
close a four point two two percent for the week.

(05:31):
Bond yields tumbling seventeen basis points. That was a huge decline. Sure,
Dwight Millard Highland's mortgage is very smiling today. I'm sure
we saw a nice pull back in mortgage rates. So
that was one positive. The other positive, Oh, I should
say this was announced also mid session, but I'm going
to throw this into my positive category. FD Governor Andrea

(05:54):
Kugler or Adreana excuse me, Adriana Kugler. Who is she?
She's a member of the Federal Reserve Board. She decides
to turn in her letter of resignation as a member
of the Federal Reserve Board, effective August the eighth. So
that came mid session today. Now what's the why did
I put this in my positive column? Very simple because

(06:14):
Trump now can nominate nominate her successor. And you see
that's of course what he wants. He wants to get
more control of the FOMC, the Federal Open Market Committee,
the Federal Reserve. He wants more of quote his people
on there, so he can start getting away from this
problem of interest rates not coming down regulated by Jerome Powell.

(06:36):
So to recap increase in tariffs, weakness and tech soft
economic data do the non figm payable numbers, a massive
revision that I'll share with you, the firing of the
Commissioner of Labor Statistics, the resignation of a governor of
the Federal Reserve Board, Trump's criticism of Jerome Powell, Amazon's
gloomy guidance, the Vics jumping up, and Trump saying he's

(06:57):
moved to nuclear submarines after Russia gives a warning. And
you wonder why this market's sold off today, But you know,
you never know, because sometimes, as we all know, you
can have some days where you get one bit of
bad news after another and the market just brushes it aside.
I think the other thing we got to look at is,
you know, as a portfolio manager, you look at, Okay,

(07:19):
we closed out the month of July. It wasn't the
best month. It was an okay month, nothing real significant
as far as the indsy returns. You're starting a brand
new month. Historically, of course, August and September not the
best months out of the year. So as a portfolio manager,
you're going, Okay, I've locked in some pretty good gains
so far this year. We're going into the two weekest

(07:39):
time two weekest months of the entire year. So you
know what, let's do a little bit of profit taking.
And so by no means by no means a body saying,
uh oh, the market is now reversed. We're heading south.
Too soon to tell. Could this be the beginning of
something absolutely or it could not be right. We can
come back on Monday and be back to the same thing,
setting records after records after records. But today that's all

(08:02):
we can deal with. It was a tough day. You know.
We went from a little over a nine percent gain
year to date on the NASDAC, but now we're only
up six point nine percent. SMP is up six percent,
right on the nose yere to date, Dal's hired by
two and a half percent. Russell two thousand went from
a very fractional over lost year to date, no down
two point eight percent year to date. So we're back

(08:26):
to uh oh. We can wipe out these games pretty quickly,
especially with the volatility that we're there. So that is
what the table was set for today. Like I said,
s and P five hundred, worst day since May the
twenty first, Nasdaq, worst day since April the twenty first.
I'm going to hold off on the July Jobs report

(08:47):
till later in the program because I've got to share
with you all the details. There was a lot plus
again this massive revision. Let's talk about some of the
areas that were impacted today that may be in your portfolio.
First of all, bank stocks, Right, traders look at bank
stocks and say they're a barometer of the economy. If
bank stocks are doing well, that means you and I
as a consumer are doing well. We're wanting loans, We're
putting a bunch of money in the bank for them

(09:08):
to goldenland down at higher rates, on and on and on. Well,
with the fear of the slow down of the economy
to do the weak jobs report, guess what. Banks were
very much under pressure today. You saw the likes of
JP Morgan and then this also, you know again includes
a little bit of after hours down six dollars and
fifty four cents, a two point two one percent loss
to eighty nine to seventy. Even some of the Wall

(09:29):
Street banks got impacted. Goldman Sachs down thirteen dollars and
fifty nine cents one point eight eight percent loss, closing
at seven hundred and ten. Wells Fargo was down ge
Aerospace was down, Caterpillar it was lower also, why because
again tariff situations and so on and so forth. Because
you see now now that these tariffs again coming in

(09:50):
much higher than anticipated. Well it's what now the street's going, oh,
wait a minute here, these are pretty severe teriffs ranging
now between ten percent to forty one percent. And then oh,
by the way, if you try to circumvent the tariff situation,
if you're one of these countries, meaning you're gonna ship
your goods what's called transshipped, meaning you're gonna go from

(10:11):
your country to country B and then into the US.
Because country B has a lower tariff than your country does.
Guess what, You're gonna get caught and you're gonna face
a forty percent tariff. Forty percent. Well, it's actually called
a levey now, so that was also announced last night.
Now to some surprise, Canada again very close ally of ours.

(10:35):
We've had on again, off again negotiations with Canada. Evidently
the negotiators is fell apart. They're one of the biggest
US trading partners. They now face a thirty five percent tariff.
That is an increase of ten percent obviously from twenty
five percent. So we sum it all up. What are
we looking at? Number one, here's what's happening. Investors are
locking in their gains, as I said, because technology is

(10:56):
starting well. We're past the technology earning phase, right, all
the big boys have reported, so it's like, okay, let's
lock in profits, get rid of those macro risk back
to the non farm payroll number. Those risks are growing,
so that's another reason to sell. Seasonality turns negative. We're
seeing the breadth of the market. It is narrowing, meaning
fewer sectors are doing well. Valuations they're stretched. We're at

(11:18):
some very very rich numbers, and slowly but surely, and
I won't worry with the details, but we're seeing some
signs that defensive position is quietly building through options and
a few other areas of the market that portfolio managers
use to protect or hedge their portfolio from a downside.
So all of that weight on the market, All of
it weigh on the market. How do we do on

(11:38):
the weekly basis? Well, the S ANDP for the week
was down two point four percent. That was the worst
weekly performance dating back to May the twenty third. The
Dow tumble two point nine percent for its worst week
since April the fourth, and the NASDAK lost two point
two percent for the week. So, like I said, it
was not good. It was not good. All right, when
we come back, let's get into the first big headline
of the day. Well, actually the first was then on

(12:00):
farm I'll call it the second one, the firing of
the Bureau of Labor Statistics Commissioner by President. Turned over
to Christen Snow she's in the right now traffic center. Hello, Kristen,
Welcome back to the John Sanchez Show on News Talk
seven eighty k, which help be Friday to all of
you once again. Mister Gunt has the afternoon off. Here's
how we finished up one more time, a five forty
two decline on the down one point two three percent

(12:20):
to a close of forty three thousand and five eighty
eight NAS that lost four hundred and seventy two points
two point three four percent, SMP down one hundred and
one or one point six percent. Got a list of
the negatives that have packed it as today. So let's
go into the next one. Let's spend some time on
this President Trump today, lasting Jerome Powell one more time,

(12:41):
this true social post that I'm going out to share
with you. Came about after the President made the announcement
that he was firing the Commissioner of Labor Statistics, what
we call the BLS. Now, the BLS is the one
that puts out, Oh, by the way, that the non
farm payroll number that I'm going to share with you
when we come back from the bottom of the hour break,
the dismal numbers. Trump insinuating that these numbers are basically cooked.

(13:03):
Now let me tell you how significant this is, folks.
He's now planted the seed in regards to can we
trust any government numbers if those government numbers are produced
by Democrats? Because you see doctor Eric mcmcintarfer, the one
that he fired today. Guess what she was a Biden appointee,
as I mentioned earlier. So now Trump is insinuating that

(13:27):
the numbers are wrong. The economy is stronger, We didn't
lose all the jobs in the May and June revision
that we received. The numbers that we received today for
the month of July, numbers should be much better. So
now this is going to call in calling the issue
of credibility. Can we as investors trust the numbers from

(13:49):
all of the various government reports that we receive if
they are produced by a Democrat and a Biden appointee.
That's what this is all about today. So let me
share with you what he did. So it came about
in a truth social post that he has directed his
team to fire. I'm just going to call her doctor Erica,

(14:10):
he said, quote. I was just informed that our country's
job numbers are being produced by a Biden appointee, doctor Erica,
the commissioner of Labor Statistics, who faked the job's numbers
before the election to try and boose Kamala's chances of victory.
That's what he posted. He went on to say, we
need accurate job numbers. I have directed my team to

(14:33):
fire this Biden political appointee in capital letters immediately. She
will be replaced with someone much more competent and qualified. Now.
A spokesperson for the bureaus said, the BLS can confirm
Commissioner Erica mcintoffer was terminated today. Deputy Commissioner William we

(14:55):
have Trowski will serve as acting commissioner for the BLS.
Now here's the other thing that's interesting I found out.
So the BLS, of course we know this operates under
the Department of Labor. The commissioner of the department and
the laborer is a woman by the name of Lori
Chavez d Reamer, and she is a Trump appointee. So

(15:19):
let's kind of put the pieces of the puzzle together. Okay.
Trump is trying to get as many people as he
can that believe in him, and I think anybody that's
a president would do this, try to get as many
people in government cabinet positions that believe in his strategies,
that are die hard Republicans, that are Trump diehards. That's

(15:41):
the bottom line. And I think he will use any
type of an excuse to get rid of those that
were Biden appointees. I think we'll see more of the
same coming. And of course we know that he wants
to get rid of Jerome Pell. Matter of fact, let's
continue on to what mister Trump had to say about
mister Powell today. So again, this was just there moments
on the True Social platform after he made those comments

(16:03):
about firing doctor Erica, he said the following, the economy
is booming under Trump, despite a FED that also plays games,
this time with interest rates where they lowered them twice
and substantially just before the presidential election. I assume in
the hopes of getting Kamala elected. How did that work out?

(16:24):
Jerome quote too late? Powell should also listen to this
be put out to pasture. Now, he's called Powell a
lot of names, he's given a lot of criticism, but
I've never heard the president say put the chairman out
to pasture. So once again, this whole rhetoric begins to
heat up. Kick out people that again are not true

(16:47):
Trump followers in various cabinet positions, bring in his own people.
And then I think, and I've searched everywhere on the
internet today to try to find out, is this why
this woman the Federal Reserve governor? Is this why she
resigned today? I can't find out, you know, much background
about her, she's a Columbia president, so on and so forth.

(17:09):
But again, as I said, when she resigns on well,
she resigned now, But when she's gone on August the eighth,
her last day, that's when Trump can nominate whoever he
wants to for that position. Now, this is where it's
going to get interesting, folks. He can nominate, as I said,
whoever he wants to. But some of the chatter today.

(17:30):
Is he is going to put someone in her position
or I shouldn't say that, he's going to nominate someone
in that for that position that could potentially be the
next Federal Reserve chairman. I e. Replaced Jerome Powell when
Palell's term is up in May of next year. So

(17:50):
you see, he wants to insert his own people. You
know what, It kind of reminds me of as I'm
saying this, it almost reminds me of a corporate takeover. Right.
You've got Company A, it's been operating for a long time,
i e. Washington Company B. Who is you know, the

(18:10):
aggressive company on Wall Street. They make their living taking
over other companies. That's the Trump administration. They're the new
kids on the game or the new kids on the block.
They come into Washington, and now what do they want
to do? What do takeover companies do? They try to
insert as many people from their company onto the board
of the acquiring company to influence the board's decision. And

(18:34):
that's really, folks, this is a playbook. You got to
hand it to Trump. This is a corporate playbook to
its finest. Bring in your own people i e. The
board members, insert them into the existing company, i e.
The US government, and then of course they have influence
over the acquiring company and this example, the Trumpe administration.

(18:54):
So no one has said that. That's just my conclusion
on that, but I think it's very interesting, something we
need to watch. I promise you, in my heart of hearts,
I am firmly believing this is just my personal opinion.
I firmly believe that you will see more and more
of this as time goes on. I think Trump is
now finally starting to realize this is a new strategy.
Let's continue to blast the chairman of the Federal Reserve,

(19:15):
Jerome pal Let's try to get rid of people as
quickly as we can for whatever reason. I mean, did
this woman you know, did she did she doctor the numbers?
Who knows? Right? I shares heck quit hope not. I mean,
like you have to remember this position, these BLS numbers,
that's not these non farm payroll numbers. Corporations and governments

(19:37):
around the world make decisions based upon this data. That
data is flawed. Wow, and it could be proven that
it's flawed. Wow. Are we going to be in for
a roller coaster of a ride. So, now, speaking of
that data, how about when we come back from this break,
let's delve into the numbers. You're gonna be shocked at
with these numbers. Show sturn over to Jack Saban He's
got news traffic on weather. Hey, Jack, welcome back to

(20:01):
the John Sanchez Show on News Talk seven eighty k
which Happy Friday to all of you. Hope you have
a great weekend. All right, it's time we get down
to the big story of the day, the non farm
payroll numbers. Bad numbers across the board, terrible, terrible revisions
for the month of May and June. All that sparked
a pretty good self on the street today. Five hundred
and forty two point losses, I said, on the doubt
one point two three percent, NASTAC lost four hundred and

(20:23):
seventy two a two point twenty four percent of decline,
and the S and P five hundred lower by one
hundred and one points or one point six percent. All right,
before I get to the BLS report, I do want
to indicate just a few more social true social posts
by the President today in regards to Jerome Powell. How
about this one Jerome quote? Too late, Pal, a stubborn

(20:45):
in capital letters, Moron must substantially lower interest rates now
in capitals, all in capitals. Now again, if he continues
to refuse, the board should assume control and do whatever
everyone know has to be done. Now, what's significant about that?
The board should assume control? Now, I didn't see this

(21:09):
post before I made that comment to you when I
went to break a second ago in regards to my
analogy of a corporate takeover. There it is right there.
The board should should assume control. How do you like that? Now,
let's go to another true social post. Too late, too late, Jerome,

(21:30):
too late, pal is a disaster, he wrote today. He said, quote,
drop the rate. The good news is that tariffs are
bringing billions of dollars into the United States. Oh boy
are they ever? And especially after yesterday's announcement, there's going
to be even more billions and billions of dollars coming in.
But all of that didn't have much to do for

(21:50):
the nonfarm perile numbers this morning, again a very very
important number. Why is non farm peril numbers so important?
Because again, this is what everybody looks at if you
just joined us. The resident today fired the head of
the BLS, the organization, the government group that puts together
these numbers, saying, essentially, in a roundabout way, she's cooking
the books. These numbers can't be right. That is what
the takeaway is. Let you be the judge. Here's what

(22:13):
the data showed. So we had seventy three thousand jobs
created in the month of July. Now that's an eh
okay number. Wall Street did are he dropped the expectation.
They were only looking for one hundred thousand jobs, and
it missed that lower expectation. Unemployment rate jump from I
should say jump, how about moved from four point one

(22:33):
to four point two percent. So there's two negatives right there.
Let's get down to the number of unemployed people seven
point two million people. Little change in the month of July.
Unemployment rate, as I said, has barely budge. But I
want to give you a little bit of a range.
If we go back till May of twenty twenty four,
unemployment's been between four percent to four point two percent,

(22:55):
not a bad number. Now, what major work groups contributed
to the figures? Well, the unemployment rate for adult men
four percent, adult women three point seven percent, teenagers fifteen
point two percent, unemployed whites three point seven Black seven
point two Asians, three point nine percent renemployed, in Hispanics

(23:16):
five percent unemployed. All those numbers put together didn't really
change all that much Among the unemployed. The number of
new entrants, now this is a new figure, folks, Listen closely.
These are people that are new to filing the state
or new to filing the unemployment benefit. Okay, two hundred
and seventy five thousand in the month of July. Excuse me,

(23:38):
increase by two hundred and seventy five thousand in the
month of July, bringing the number to almost a million people.
So these are people brand new to the unemployment line,
so nine hundred and eighty five thousand total. Now, these
new entrants are unemployed people who are looking for their
first job. So do we call those probably college graduates,
high school graduates who are entering the work, so on

(24:00):
and so forth. But you got almost a million people
looking for work. The number of long term unemployed that's
defined as those jobless for twenty seven weeks or more.
That increased by one hundred and seventy nine thousand people
to one point eight million. Not a good number. Increased
by one hundred and seventy nine thousand long term unemployed
account for twenty four point nine percent of all unemployed people.

(24:23):
It's almost twenty five percent. Labor force participation sixty two
point two percent. Little change in July, but has declined
by about a half a percent over the year. Number
of people employed part time for economic reasons four point
seven million. That changed little. These individuals would have preferred
full time employment, but we're working part time because their

(24:44):
hours have been cut or they were unable to find
full time work. The number of people not in the
labor force, they've given up, they've thrown up their hands
six point two million people. That was up five hundred
and sixty eight thousand over the year. Think about that
for a second. This one never catches the press. That's

(25:04):
why I like to read to you and share with
you this BLS report. You got it again, peel the
layers of the onion back. Think about that for a second.
Six point two million people are not counted as unemployed.
These individuals, again, were not counted because they were either
not actively looking for work during the four weeks preceding
the survey, or they were enabled to take a job.

(25:26):
Among those not in the labor force who wanted a job,
these are what we call marginally attached an they're one
point seven million. These individuals wanted and were available for
work and had looked for a job sometime in the
prior twelve months. That did not look for work in
the past four weeks preceding the servey that never decreased
by two hundred and twelve thousand people, bringing the total
of four hundred and twenty five thousand, largely offsetting an

(25:48):
increase in the prior month. These discouraged workers are a
subset of the marginally attached who believe that no jobs
were available for them. Go figure, All right, Let's get
into the various areas of the economy where job creation
or job loss occurred. Healthcare added fifty five thousand jobs,
above the monthly average gain of forty two thousand. Ambulatory

(26:10):
health care services up thirty four thousand jobs. Hospitals gained
sixteen thousand jobs. Social assistance employment continue to trend up
eighteen thousand, reflecting continued job growth in individual and family
services total of twenty one thousand. There, how about the
dose impact is the government adding or subtracting employees? Well,
listen to these numbers. Federal government continue to decline as

(26:32):
far as it's employment numbers, in June they lost twelve
thousand employees and has down eighty four thousand since reaching
the peak in January. Now, employees on paid leave or
receiving ongoing severance pay are counted as employed for this report.
So I think last count that I remember that was

(26:53):
north of two hundred thousand people, So you got to
really add that to that that number, So theoretically, what
are we looking at? Probably north of three hundred thousand
people that the government has shed. That was their goal.
Let's see here major industries. We didn't see much change

(27:13):
here locally, mining, coreing, oil and gas extraction, construction, et cetera.
Really didn't budge much. I'm not going to bore you
with those. Let's go to the average hourly earnings for
the private sector up twelve cents, bringing the hourly wages
about thirty six dollars and forty four cents. Over the
prior twelve months, average average hourly earnings have increased about
three point nine percent, so kind of holding in there

(27:35):
with inflation. Average work week for all employees edging up
by one tenth of an hour to thirty four point
three hours. That's not good. Manufacturing. The average work week
is at forty point one hours overtime edging down two
point eight hours. That's not good. And now the biggie,
when we come back, let me tell you what their
revision numbers were. Again, I've been saying this for the
month of May, the month of June. This, folks, is

(27:57):
what sparked one of the main sparks of today's market selloff.
Wall Street did not like these revision numbers. I'll tell
you what they are when we come back. Let us
turn it over to Kristen Snow. She's in the right
now traffic center. Thanks Kristin. Welcome back to the John
Sanchez Show on News Talk seven to eighty koh All right, folks,
quick reminder. You know I'm gonna wrap up the show

(28:18):
here in a moment talking about what you need to
be doing with your money at this point. But I
want to take the opportunity before I forget. Two things
I want you to do over the weekend. Give our
office a call at seven seven five eight hundred and
eighteen oh one seven seven five eight hundred eighteen oh one,
or you can go online and make an appointment with
Jason myself. Our team Sanchez Gaunt Gaunt dot com. If

(28:38):
you're concerned about your allocation, and now, why am I
bringing this up? If this market is starting to roll
over a bit and starting to, as I said, narrow
in on the very few sectors like we started to
see today, your traditional portfolio that you probably are in
right now may pose a bit of problems for you.
Right if you're heavy in tech, this may be the

(28:59):
time you want to get an evaluation and take a
look at it and say, okay, what areas of the market.
I want to go into one of the biggest takeaways
of all the reviews that we have done when we
made that offer to all of you that thank you
for all of you that took advantage of it. It
was just amazing. Was a lot of concentration, right, a
lot of concentration. And again from what I've seen, if

(29:21):
many of you that are sitting out there going, man,
my portfolio is kind of floundering right now. I got
hit pretty hard today in the market. I don't have
enough diversification. This is the time you want to get
a portfolio review. And again, we do not charge for this,
or we're still going to kind of extend this offer
a bit. We're not going to charge for it. Again.
Just reach out to the office, and you know the
steps are you reach out, set an appointment, get on
my calendar, get on Jason's calendar. You'll securely email in

(29:44):
your statements. We'll take a look at it and put
it into our software and we'll do a full analysis
and then have a zoom call with you to review
our findings. And some of the people I'm like, you
know what, your broker's doing, A great job, stay with them. Others, hey,
not such a great job. You know, they have become clients.
So just again, I'm just saying this because it's a
great time to take a look when we start getting

(30:04):
into these soft spots in the market. Again, it's too
soon to tell, but if we start to roll over,
please make sure your allocation is where it needs to be,
because if not, I don't want to see you give
up all these games that you so fought hard for
this year. It's so easy to give them up, just
like today, just out of the bloop. You know, Nasdaq's
down two point two four percent just to one day.

(30:25):
That's what can happen. This is what I've been warning about.
So again, Office Number seven, seven, five, eight hundred and
eighteen oh one, or go online to our website Sanchez
Gaunt Gaunt dot com and you can set an appointment
with my staff will call you back and get the
process rolling for you. Okay, in the last bit of homework,
this is going to be a great weekend. Sit back,
go take a look at some of our podcasts. I

(30:46):
look the other day. We have a little over one
thousand podcasts available for you. Yeah, go to iTunes, go
to Spotify, any of those places they have our podcast
and take a listen to some of the shows that
we've done. If you want to check our advice, if
we know what we're talking about, go back to some
of the previous shows and listen to our advice, and
I think you'll find that we're pretty dialed in on
what's going on in these days. All right, let's wrap

(31:09):
things up with this big revision. This is again what
really sparked a lot of concern for Wall Street. So
we always get revisions, right, whenever we get these BLS reports,
they always tell us, Okay, well, here's what happened this
last month, I e. July, where again we only gained
seventy three thousand jobs. Expectation was one hundred thousand, and
then we begin to look at the revision side of things,

(31:30):
because the revision side is really where you have to look,
and this was not a good number. May and June's
revisions were significantly larger than normal. The change in total
non farm payroll employment for the month of May was
revised from one hundred and forty four thousand, which is
what they told us, down one hundred and twenty five thousand,

(31:53):
So we didn't create one hundred and forty four thousand
jobs in the month of May, only nineteen thousand jobs.
Think about that for a second, folks, nineteen thousand jobs.
That's it. When we were told there was one hundred
and forty four thousand. June almost just as bad. They
told us one hundred and forty seven thousand jobs were created.
They revised that number today down by one hundred and

(32:15):
thirty three thousand. Only fourteen thousand jobs were created in
the month of June. And you wonder why Trump said,
wait a minute, here, there's something not right. There's something
not right with these numbers, and you really have to
take a look at them. Go you know, is the
blis cooking the books? Lord, I hope not. Lord, I
hope not. But that's what Trump is insinuating with the

(32:37):
firing of the BLS leader today. So we put all
those numbers together, we add them up for the month
of May and the month of June, job loss two
hundred and fifty eight thousand lower than previously reported. Think
about that, two hundred and fifty eight thousand jobs less

(32:58):
than what previously was reported. And this, remember is not
even what is it the month of September when we
get the annual revision. Remember that shock that we got
last year that hasn't even happened yet, But of course
that's going to happen here in another month. So we
have to really look at these numbers closely and say,

(33:19):
is the jobs market softening? If it is, what do
we need to do? Where do we need to go
in our portfolios? What allocation do we need? Do we
need to be one hundred percent invested in the market,
Maybe it's time to be our only eighty percent. That's
what a review is going to do, is take a
look at that based upon your goals and your risk,
your holding, your allocation, what is going on in your life,

(33:40):
Because once again we can find ourselves in a situation
where this market can roll over very fast. I'm not saying,
as I said at the beginning of the show, I
am not saying that's what's going to happen. All I'm
saying is it's causing Jason and I to set up
on our chair a little bit. We've been talking about
being cautious for a while. Now, now we get a
bad day to day, we have a bad week. We're
no longer saying, hey, the NAZAC and esme we closed

(34:00):
out a record again. Remember we had fifteen consecutive days
of the SMP closed in at a record. Now, obviously
we snapped that this week. So just be cautious, take
advantage of the review. I'm more than happy to do
it for you once again. It's called the office seven
seven five eight hundred eighteen o one on Monday, and
they'll get you on my calendar, ad Jason's calendar. And
now we weren't happy to take a look at it,

(34:20):
run thro our software and see how things look. All right,
With that said, folks, please enjoy your weekend. I'm going
to try to get some rest. I hope you do
the same. God bless you, Thank you, for letting us
be a part of your life. This has been the
John Sanchez Show, Newstalk seven to eighty KHCH. I'll see
you on Monday. This program was sponsored by Sanchez Gune
To Capital Management LLC. The material in this program was
intended as general information only and should not be taken

(34:43):
as specific, investment, tax, or legal advice. None of the
information on this broadcast was intended to be a solicitation
for the purchase or sale of any security. Further information
is available by contacting John at Sanchezgaune dot com or
seven seven five eight hundred and one. Eighth one offers
securities and advisory services through Independent Financial Group LLC, a

(35:04):
registered broker, dealer and Investment Advisor member FINRA SIPC. Securities
offered only in States. John Sanchez is registered in Sanchez
Gaunt Capital Management LLC. In Independent Financial Group LLC are
unaffiliated entities.