The show opens with a focus on rising global debt, as public debt reaches record levels worldwide. Yahoo Finance anchor) take center stage as the episode explores the impact of President Biden's decision to step down from reelection and the anticipation for upcoming tech earnings. Yahoo Finance reporterSan Jose State Professor Ahmed Banafa analyzes the outageWe're going to be breaking down the trends of today that will move stocks tomorrow.
But if Trump and Vance do take the White House or I think a lot of viewers are still trying to understand what exactly that that could mean. What is good for the nation, the, the old kind of free market obsessed Republican party that was so closely aligned with the Chamber of Commerce and thought, you know, whatever is good for profits, whatever is good for the stock market, that must be what's good for America.
And then you had Doug Berham and, and Glenn Yin, who would be sort of very conventional pro-business, republicans much, much more in the cut of, of Mike Pence and, and Trump chose Vance, right.Vance doesn't get up and, and give that speech on Wednesday night without, without Trump in the campaign knowing exactly what he's going to say.
I mean, when Trump got to the White House last time, he, he looked down Pennsylvania Avenue and, and at the other end, there was Paul Ryan sitting there with, with a big tax cut waiting. And, and we saw what we, we saw the result of that America became the in the industrial colossus with, with the middle class.It's really only in the past 20 or 30 years, especially since the end of the Cold War that you had the Republican Party taken over by these market fundamentalists who said more free trade is good.Uh You know, we're gonna bust unions.
Uh, it, it, it is not at all the conservative agenda and, and it's not one that, that really helps workers. You've got the Euro area, which is sort of flattening out China ticking up and emerging markets excluding China.If we drew that imaginary line off, the higher that you get above that level level, the worse that it is perceived to be.
I happen to be of the view that, uh you know, neither of our parties is particularly focused on this at the moment. So this is earnings growth for the S and P 504 96 and for four specific tech companies, you're looking at Amazon alphabet meta and NVIDIA, they're expected to grow earnings by over 56% this quarter.
That's people positioning into that report and then we'll sort of see what the reaction is coming out of it, right?And we have current President Biden announcing that he will not be running for the presidency over the weekend for the 2024 election.This was from a note from Rory Cavasso over R BC capital markets she was pointing out.Purple is the S and P 500.I think what was being priced in here is knowing who is gonna be in office.
Almost less than policy, just having some degree of confidence in who you think is going to actually be in the White House markets.So I want to take a look at the vics, the vics picked up at the end of last week as the S and P 500 pulled back. It is good to see you and you know, I thought it'd be interesting a and just to to frame the crowd strike event because I've heard it described as the most spectacular it failure ever.I mean, before you have some kind of uh uh breaches or some kind of an it outage, which is will be specific for a company specific for a certain sector.
Uh The other thing is that sending some kind of script, which is the, the programs to fix the, the the problem and phishing emails sent by millions and somebody will click on it and then we're going to have a ransom problem instead of dealing with this. So what happened is that went through all those 8.5 million devices and they are really in a very essential, you know, a point of our economy.
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