Hello and welcome to ask you for a trend.We're going to be breaking down the trends today that will move stocks tomorrow.We're going to be diving into stocks pulled back today, losing a bit of ground after a recent positive run, both the NASDAQ and the S and P saw their worst since the August 5th, sell off investors.
It, it's mostly technicians, it's chartists and they're interested in, in looking at Gold and Bitcoin here and it is, it is true.Bitcoin is down roughly about the same.I think technical analysis of that sort is basically astrology for men. But ultimately, we're talking about a risk on asset and that's quite different from, from gold, which has been a store of value for so long.I wanna get your take on this though spot, Bitcoin each PS Matthew.
And so I think the volumes can be a little bit misleading if you're trying to use those volumes to assess money inflows into Bitcoin themselves. Um I don't think we can necessarily assume that a Harris administration would be a continuation of the Biden administration policies and there have been some comments and even some overtures to indicate that there is at least some possibility of a reset.Thanks tech leading the losses in today's trade as investors turn their focus to, of course, the Fed.So we've got takes on the Fed and we've got takes on tech, but I wanna start first with the labor market.
I mean, I think economists have reasoned that if you take the trend, right, if we were at 240,000 jobs added per month, and then you look at the revision that comes down to 175 still largely.And economists feel good about that number and they think the fed probably would have felt similarly. It, there are some smart folks who wanna see the super size 50 because they, and they just, they just think the feds behind the ball, they gotta get less restrictive.It is interesting about, let's see, even if they did 50 what the reaction of the market would actually be.Right.
The company unveiled 18 new locations this quarter and a new menu innovation, grilled steak really performed well for and that gave the company the ability or the opportunity rather to uh to raise their 2024 outlook.That's up from 4.5 to 6.5% that they had set in Q one.And how does this fall into sort of the broader trends?
Boston has a large number, a couple of the large uh west coast gateways and Chicago in the midwest would lead that list.Well, they have a density of office, working jobs but also if you look there's a lot of universities that are uh very proximate that feed into those. But Dallas Fort Worth has been a massive winner, Austin uh Texas creates a, a very large number of high quality graduates.And so cities like that have been major winners as well and we see a a tertiary effect, I guess even in some of the the smaller cities in the Midwest are starting to have in migration from graduates as Cincinnati as an example.
You now need to live in the city where your job is and where your, your seat in your office building is much different than two years ago.Thank you very much and coming up, we're taking a bite into shares of Apple as the tech giant gears up for its next iphone launch. And, and this has to do with what we have seen before from Apple in the times that it has come out with transformative products.
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