Stocks are falling in the first trading day of September. With just one hour to go until Tuesday's closing bell, Market Domination hostsVideo Transcript
A drum roll into that Friday morning print and really going to set the tone for the September rate cuts, whether that's 25 or 50 basis points.I don't think the market's going to welcome that news as it did not back in early August.I think, I actually think the jolts report is the more important report coming out tomorrow.That's a proxy for unemployment and it looks like unemployment could be moving higher.
Even with that big decline, it has seen to your point, other chip stocks also down today, by the way, we do get Broadcom reporting this week after the close on Thursday, it's one of the stocks that stand. And now there have been promising uh increases in production that are supposed to start next month and there's no indication that we're gonna back away from those.
But I do see, like I say, I see two kind of very important symbols of when this market might turn around. Get a little bit of the copper miners, get a little bit of the oil companies that are cheapest, get a little bit of lithium and Cobalt, some rare earths that have really gotten beaten up. So on the margins, it might matter if we were at a, at a place where the balance was really kind of paper thin.
Definitely the fed lowering interest rates has a big impact on that kind of investment into a new production that uh moves prices higher.It's a slow train, it's turning around, you know, an aircraft carrier in a canal, but when it turns around, it starts to move, you're best to be in it beforehand because you don't generally catch it on the way up.Uh let's end here with what you see with gas prices and then near to kind of intermediate term here, prices at the, at the pump.
Basically, for two years, the mag seven have outperformed the S and P 500 on a monthly basis that has changed the past two months where last month the S and P was up the mag seven total return index was down.Look at it again as of year to day performance. And basically saying that central banks buying gold uh gold, you'll recall that in Q one, central banks bought a record amount of gold for Q One.ETF S first you saw that in Europe.
Julie has done not much about 2% but despite that or maybe because of it, Street loves this thing line of love for a lot of love how many buyers we got over 90%. Perhaps more importantly here, the company said it's also going to double its authorized shares for issuance. Later this month, we're joined by city's chief US economist, discuss her outlook right on the other side.
Remember when we talked about transitory inflation and it was just used cars and every month there was a new story for why you shouldn't take it seriously.It's been moving up for the better part of six months or longer now and it's been consistently moving up in each of the last four employment reports.
We're at 4.25% and it rounds up to 4.3 we think we're gonna get another 4.3 and, but this is, it's, it's really gonna be pivotal for the fed where exactly that number comes in and, and just to be clear here, you're 125,000 is about 40,000 below where consensus sitss right now.There are some four point twos, there are some four point threes, but the consensus is for 4.
So, if there is a half point cut, does that sort of give the little jolt perhaps that the economy needs and, or conversely bring us down to a more normal rate quickly enough, you know, is, does that do the job and then they can kind of go quarter point from here?Unfortunately, the lesson of history is once you realize you need to the 50 basis point cut, usually you really should have been doing that 50 basis point cut earlier.
But he has like he has this sort of interactive screen that you can use, but there's a wide range of outcomes.So you're looking at the effects on earnings before interest and taxes between a 15% gain for Google's EBI to a 23% decline.So that puts a good sort of framework on the uncertainty or color to the uncertainty that he's describing.
What else were you gonna do when you were stuck inside uh, it's been, you know, four years since then, a lot of those devices are starting to age out smartphones, people hold on to them between, you know, three or four years now, same thing with laptops, especially if you got a lower end laptop or an entry level laptop, they're not gonna be running that well, four years on.
And so uh just to give you a little little uh rewind, they had the uh core eye line of chips like forever.Uh They didn't have enough of the firepower that they needed to be considered Microsoft Copilot plus P CS, which yet another naming fiasco.And so they say that these offer the kind of battery life uh and, and power that you would expect from a modern computer.
And you certainly see that in the performance even within technology, which is, you know, more my purview where you're looking at at, at the smaller and mid cap stocks. They've got a thesis as you guys were just discussing that there's gonna be a lot more semiconductor sales in some new arenas than we've seen recently.I, I hate to talk about the stock market in terms of play but w ways to, to, to apply that thesis to other stocks that aren't just uh seven names.
So, do you think we're seeing sort of a rotation in some case from some of the giants to some of the small?And, um, and I think that, you know, the other thing that you're seeing is you're seeing some, some things shake out and you're seeing investors try to figure out what it means right now. A lot of the internal metrics of this company look good and you have to see the, see the market and throwing out the baby in the bath water right now.
But generally speaking, growth, investors and tech investors are willing to wait a long time until they see a return on investment.I I wish that were true.But sometimes we we, we live in the in the crazy crazy buy, buy, buy, sell, sell, sell world of, of people who do crazy rapid trading based, not on fundamentals at all, but wiggly lines on the screen.
We wanna welcome in Sanjay Pin, the CEO and president of Cohesive and A I powered data security and management company backed by NVIDIA uh Sanjay.Um Curious to get your take Sanjay.We've wrapped it up as you look across the software landscape and you, you saw those reports, Sanjay.Well, uh thank you Josh for having me on your show.The wave of cloud multi cloud is there to stay pioneered by Amazon, but Microsoft Google oracle and there will be private cloud and sovereign clouds.
Um you know, given that outage historic truly, you know, unprecedented, really, what are some of the lessons learned there in your opinion?
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