 The following is a presentation of TFNN. The morning markets kickoff with your host, Tommy O'Brien. Good Tuesday morning everybody. I'm Tommy O'Brien, company live from TFNN as we start a little bit of FedWatch today. Two-day meeting starts today. We have a decision tomorrow 2 p.m. Eastern time press conference to follow on Wednesday at 2.30. You got markets this morning picking up a bit to the downside. Markets. We were trading higher at about 6.45 a.m. this morning. It was up early about 5.6 in the morning this morning. Some markets holding up pretty well. We've got a little bit of slide in the last few minutes as we have the S&P is trading from 45.08. We're down to 45.91 right now. You're almost 20 points off of the highs we had just a couple hours ago. Markets not stopping the steam to the downside. NASDAQ 100. We're off by about 50 points pushing the lows of early yesterday at about 15,363. You get the Dow off 67 points right now. The Russell off by one Bitcoin trading up by $350 at $27,240 crude a lot of the focus as rightfully so. We talked about crude yesterday. Now you get a role in the contract overnight and relentless is the price of crude just in the last hour or so. You got crude accelerating a dollar higher. We're back above $92 on light sweet crude up a buck 52 on the session right now. So as I mentioned, right? You get a role. We're pushing the highs yesterday. But because of the role, you had a little bit of a recoil. And if you didn't get a role there, you would actually be much higher in that crude contract as we're up a buck 53 right now on the price of crude. You jump over to gold. You're pushing up about $3 in gold at 1956, the all important notes and bonds man coming into Fed Day. What do we got? We got lower price and higher yield right now. You're talking about a 10-year yield 4.36%. The yield on the 10-year right now, talking about the yield in terms of the curve. You're talking about a two-year of 5.09%. A lot of conversation when we get Chairman Powell, 2 p.m. eastern time, as I said the announcement tomorrow, 2.30, the press conference to follow, we're going to get some economic projections. It's going to be very interesting to see where they think this economy is going with the natural rate should be in terms of this economy for growth. They're in a restrictive rate policy. That's for sure. It's going to be interesting to see a lot of eyes going to be on whether they talk about where the term R star, which is basically the natural rate of growth in the economy. The reason why the Fed likes to know what the R star is, and it's a hypothetical number that nobody can solve for that number. People estimate what that number is. It's going to be interesting to see potentially where the Fed thinks that number will be. I mentioned that because if you have a Federal Reserve interest rate policy that is exactly at the natural growth rate of the economy, you are neither restrictive or you're not even allowing it to grow. That would be where you want to be in the long term. Figuring out where that number is, that's been a lot of the conversation saying, hey, that number might be a little bit higher than everybody has been anticipating in the past. We might be at a number that we might have to accept an inflation number near 2.5 or 3%. I don't imagine the Fed's going to go there, but boy, you better be careful if they do. We have the interest rate right now at 5.09 on the two-year. We get the 10-year at 4.36% right now. The 30-year, 4.43% on the 30-year mortgage rates. Watch out. You jump over to the dollar index. I was just over in Europe. Helped out by the strong dollar last week in Europe. That's for sure. We get the dollar pulling back a bit. We catch a little bit of a bid in the last hour or so. You get the dollar pushing 105 right now. We jump over to that euro, US dollar. We were just above 107. We're just under that number. As I mentioned, you're back things off, right? We were up to 112, man, July 17th. You talk about a slide. We're pushing the lows of May in the dollar right now at 106.89. Let's jump to the story of the day. FedWatch. That's it. There's the chairman. He'll be speaking tomorrow at 2 p.m. Eastern time. I got a bunch of articles we'll be talking about here as we go through. Let's see what we got. Yeah, we're going to start it off with the New York Times. Here's the projections. Investors are going to focus. You're going to get probably a pause. But what's he going to say? What's he going to talk about? Where are they going to go in November? Is he going to give us any heads up in terms of where the market goes in November? In June, it's the last time that the Fed released their forecast. The central bank held open the possibility of an autumn increase amid a lot of uncertainty. There is still so much uncertainty in this market. Imagine that. It's going to be a pervasive theme in terms of what Chairman Powell will be talking about. Inflation, still above the Fed's 2% target, though it's begun to cool recently. I was listening to Bloomberg earlier this morning, and I had to chuckle the guests they were talking to chuckled as well, because I believe it was Jonathan Farrow that said, is the cooling of inflation transitory? You got to love that one, right? You have crude rising, but what they're talking about here is, number one, what are they going to be looking at for later rates? The market seems to be thinking that they're going to talk about the potential for an additional 25 basis point hike. All streets sees the Fed cutting rates next year as inflation gradually recedes against so much up in the air right now. Economists believe the prime lending rate will remain close to 5% at the end of next year. That is quite a number, man. That is a risk-free rate of return. CD rates are going to remain high for some time. Remember, CD rates, compared to something like the 10-year, banks need capital. Banks need capital. They need capital for some time right now. That is going to stay consistent. That's going to be a headwind for the market. Absolutely remarkable how well this market's held up when you consider the fact that there is a risk-free rate of return out there that's pushing about 5% that we haven't seen for some time. Now, the flip side of that is, boy, you've had a lot of cash on the side of this market right now that's just waiting. If you ever see that pullback, the risk-free rate of return potentially pulls back. Where's that money going to go? Maybe you see people looking for equities, to some degree, when you have a decline in the risk-free rate of return. You got President Biden speaking to the UN today. That's going to be on top of things as well. Yeah, we get to find out tomorrow. We're going to go from there. It's going to be an interesting one, to say the least. We jump over to CNBC. Why the Fed's interest rate move may hinge on inflation expectations. I mean, CNBC is clickbait, to say the least. Of course, it's going to hinge on inflation expectations. But the key here is, there's so much data to come down the line. Nobody's sure where they're going to go. University of Michigan's Consumer Sentiment August survey indicated consumers' one-year inflation expectations were at 3.3%. That is three consecutive months of stability. The survey findings for the five-year inflation outlook came in at 2.9%. Consumers still believe that long-run inflation is between 2.9% and 3.1%. That's a 3% number. The Fed wants it at 2%. I'd be interested to see what the chairman has to say about what consumers think the inflation number is going to be at versus what the Fed thinks the inflation is going to be at. You think they're going to get it back down to 2% man? That is a tough task ahead when things are so lofty and boy, you add in the crude situation to things, and this is where things get so interesting. I talked about this in the program yesterday, man. You've got an A to B, C to D formation here. You're pushing about $95 in the price of crude. That would be the A to B, C to D completion of that formation. Your A point back in June 28th of about $67. The B point of about $85, you're talking about almost a $1750 or $18 move. You add that $18 to the C point of $77, and you are pushing $95. We might get there today. Stay tuned. We'll be back. Thanks Schwab Network Fast Market. We'll be right back, folks. 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Visit TFNN.com and try Mastering Probability 30 days risk-free today. TFNN, Educating Investors. TFNN has launched the Tiger's Den. Hosted at Discord, TFNN has been educating traders for more than 20 years, with live programming hosted by a variety of professional traders during market hours, the Tiger's Den. Available to all Tigers and Tigresses for just $1 for the year. There's no catch or added costs when you join our community of traders. Sign up today and become a part of this educational community of traders. Just visit the front page of TFNN.com. Welcome back, folks. We've got the S&P Futures, negative by about 12 right now. All the markets in the red. You have crude trading higher yet again. To talk about some of the market action, let's jump over to our man, Kevin Hinks from the program Fast Market from the Schwab Network aired every day. Folks here on Tiger TV at 12 noon Eastern time. Kevin Hinks, I've been away for a little while, man, and I'm going to jump right into it with the price of crude. I listened to the program Fast Market yesterday, and you guys were talking about it. I love the conversation, man, talking about crude, and whether that it's actually inflationary or deflationary, and I love it if you could start off there, man. Good morning, Kevin. Good morning, Tommy. Yeah, you know, by definition, higher crude oil prices is measured in the headline for inflation, right, food and energy as part of inflation. You can make a counterintuitive argument in a month, right, in the disposable that you were spending 30 dollars on gas. Now you're spending $10 on gas by discretionary products, and therefore, there must be disinflationary pressure by it doesn't feel disinflationary because you are spending higher prices like raw and energy often does. They're part of the economy favorably, and every other part of the U.S. needs to be negatively. I love the conversation because I was trying to wrap my head around it yesterday morning, and I'm going to use that as kind of a jump and off point to, of course, Chairman Powell and the Fed meeting that starts today, the decision tomorrow at 2 p.m. Eastern time. We've been focusing a lot on the core numbers, Kevin, and what do you think as a segue to that, because I completely agree. You know, we're going to see some headline numbers that might be pretty lofty that we have not seen recently in terms of energy prices, the comps, as we approach maybe some year-over-year numbers. How do you think the Chairman is potentially going to approach this as we potentially get headline inflation numbers that, again, begin to creep up? But as you made the case, man, maybe that actually is going to be helpful for the Fed's policy goals to actually bring down the core inflation numbers. I mean, how do you wrap your head around that one, Kevin, if you can jump from the crude conversation to what we're going to be dealing with with the Chairman tomorrow? I believe that what the Fed really pays attention to in many ways is core influence over OPEC Plus, cutting question. He has influence over whether or not the Chinese economy recovers, and that helps the demand part of that conversation. Jerome Powell handles what he can handle, which is interest rates that really work on the core aspect of inflation. And that's, I think, that's why he looks at core CPI, core PCE, he looks at job openings. You know, that's another one that he looks at, but that services, ex-housing, is something that he really helps out. So I expect at tomorrow's Wednesday's press conference, he's going to be asked a lot about the relationship between oil and core inflation and the relationship there. And he's basically, I expect he would say, there's nothing I can do about the price of oil and nothing I can do about the price of oil. That is why these core numbers. It's remarkable how many moving parts are in this economy and now we have higher crude prices pushing just at the moment that maybe we get a little bit of easing on the core side of things as we've been talking about. Just so many variables in this economy. We march forward, of course. We got tomorrow those numbers, but I know you guys love talking about specific equities on fast market on the Schwab network every day at 12. Do you guys have any equities coming up at 12 today, Kevin? Yeah, we're going to look at three good names today. We're going to look at NVIDIA in the first segment. We're going to look at the actual plateau or coming off some of its high levels. We'll look, aren't coming out this week. Remember, we are very late. The names are very thin. So we work, but we will do general mills that consumer staple stock. And then we'll look at arm holdings. We're going to look hard at arm and see if we can trade arm. If it's day three in arm holdings, yep, they're getting options today, Tommy. So let's not wait. Let's get right in there and trade arm holdings. I like it, man. IPO season. One last question because you talked about arm. I was thinking about Instacart going IPO today. Do you have any feelings on the Instacart? IPO, Kevin, just as a blank question, but I have my own biases there. What do you think of Instacart? Once valued at $40 billion, seems like they're going to go public at about a $10 billion valuation today when they start trading. Their price up now is here. The biggest problem here, Tommy, is no one discounts delivery in terms of groceries. But there's competition, right? If you think of what Instacart, who they service right now is Kroger, Costco, Wegmans. Those are the three main customers. But if you think about competition in this space, Tommy, right, we have to get a little done. Just like we know DoorDash and Uber Eats are competition. Amazon, Walmart, Target have their own in-house delivery services. Remember, Target bought shit in 2015 for about $550 million. I'm worried about competition. That's really what could work either. Remember, in the height of the pandemic, when all this was so hot, this was priced so much higher than it is now. So competition in any space, it's a cautionary tale. It was for crypto. It was for streaming. It's going to be now for AI. And you're going to learn about that for delivery as well. I appreciate the perspective, man. And from Florida, the southeast of the country, man, Publix is in there as well. And boy, I was ordering everything on Instacart and Publix, Kevin, right at the beginning of the pandemic. And I probably contributed to that $40 billion valuation. I have not used Instacart for probably a year or two as prices skyrocketed. Couldn't quite rationalization, as you mentioned, paying the premium for that service. Interesting to see how they do today as they try and push that out to the public at about a quarter of the valuation, which is pretty remarkable. Kevin, I appreciate the time, man. Great to talk to you. I know a bit out for a week. And it's Fed Week, man. We look forward to the program, Fast Market at 12 today. And I look forward to talking to you tomorrow, man. Have a great day, Tommy. Folks, check it out. Every day, 12 noon Eastern time, they got some great equities in the video, right? Pairing things a bit. General Mills out there, arm. And as we mentioned, Instacart, they're going to be going IPO under the symbol cart, C-A-R-T. And just from an interesting perspective, I can't wait to see how that goes. Not often do you have private equity pushing a company up to $40 billion valuation and then waiting until it hits $10 billion and then maybe pushing it out to the market. But it's not out of surprise, folks. There are many people like myself that were pushing the growth of that company, in particular, among many others, and that has waned to put it lightly. And in the back of my head, you know, if private equity thought that was going back to $40 billion, folks, they wouldn't be pushing it out to the public right now at $10 billion. Okay, so be very careful. There's not a lot of instances, excuse me, where you get equities that are not public, go up to $40 billion, they come back to $10, and then the investors say, we better push that up to the public right now. Anyway, we'll see where they go. Markets, negative by 12 right now as we come back for the open, folks. Stay tuned. We'll be back in three minutes. 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From the moment the market opens until the closing bell sounds, Tiger TV has eight different shows with expert hosts to help you make the right moves with your money. Watch online at TFNN.com or on TFNN's YouTube channel and become the investor you were born to be. TFNN Educating Investors. Don't forget, you can listen to TFNN live on your mobile device 24 hours per day. Go to TFNN.com and hit Watch Tiger TV. That's TFNN.com and hit Watch Tiger TV. We get the S&Ps off by about 12 points right now and NASDAQ 100 kicks off the trading session down by 69. Dow off by 55. You get the Russell positive by two and check in on that crew contract. We're up a buck 23. You pull back a bit as I mentioned that A to B C to D seems like we're gonna test that double high we had back in November and October. Those highs pushing almost $94. 93.64 was the high in October and you got 93.74. So 10 pennies away, right? And we just got up to a high of 92.43. So only about a buck away from those highs. And boy, you talk about it, man, from $67 almost coming into July folks. That's two and a half months. You trade from 67 to 92. That's $25 and to get it exactly, $25 divided by 67 is a 37.31% acceleration the price accrued in just two and a half months. And that is gonna weigh on consumer discretionary income. It's not even discretion as Kevin put it so well and that's part of the conversation that I asked him about that I enjoyed on fast market yesterday. As I mentioned folks, we talk to Kevin every Tuesday, Wednesday, Thursday. I know we had a few cell phone problems this morning. They don't have those problems on fast market at 12. Check out the program at 12 noon Eastern Time. Outstanding program. I've learned so much from Kevin and the team at the Schwab network over the years. And it's a great way to think of things. He's absolutely correct that the Fed focuses on core. They cannot control the price accrued when you're talking about a commodity that is controlled heavily by supply of basically OPEC. To put it like OPEC plus US produces a lot but boy, the supply matters. And that is gonna weigh on the amount of money that consumers have, man. You cannot decide to drive your car less. Maybe you can to a certain degree but many times those purchases are necessary, not discretionary. And what's gonna happen is you're gonna have to make those choices in other aspects of your life. And at the same time, we now have student loan payments kicking back in October 1st. That's gonna matter as well folks. People are already preparing for those payments starting October 1st. They haven't been paying for three plus years and I think we can all embrace and understand. When you live for three years without a payment, you adjust your living. When that payment comes back, you have to actually start making choices to take away other areas of your spending just to be able to afford the payments that you need to make for your student loan payments. At the same time, you're gonna have crude prices rising. It's gonna be an interesting press conference tomorrow at 2.30 p.m. Eastern time. All right, what else we got going on? We're jumping around. Let's talk a little bit of Disney. We talked Disney, Disney man. It's been a rough go around and they're gonna spend some more money on parks and cruises. Probably in the long run, a good venture in terms of, boy, those are gonna be money makers forever in terms of Disney. Haven't made it to Disney with Tommy yet. He's pretty much almost at the age that maybe we gotta make that trip. I've made it to Europe, right? Might be time to make it to Disney. Disney, this morning, planning to nearly double its investment in parks and cruise business, $60 billion, $60 billion with a B. Deem parks have been the relative bright spot while the company struggles to make a profit on streaming. Listen, streaming's gonna be a tough go around for the considerable future. Domestic parks, Disney World in Florida have seen a slowdown in attendance and hotel room purchases. But that's gonna be a money maker forever. And that number's over 10 years, folks. Okay, so it's $60 billion, that's over 10 years. And Disney getting hit today, though, as you'd expect when they're spending that type of moolah, spending that type of cash. The market says, oh boy, here we go. You jump over to Disney shares, you're down 1.7% chopping around to $83.52, from a price tag of about $85 prior to that news number. Let's jump around to some of the other streamers as we kick it off. Netflix shares, $395 is the price tag right now for Netflix. You jump over to Warner Brothers Discovery, chopping around to about $11.82. Let's put that on a daily. You see Warner Brothers, basically, where it was a year ago, right? Pretty interesting, as opposed to Netflix, quite the acceleration for Netflix over that time, but pulling back from the 485. Be careful chasing some of these equities, folks. Netflix just gave up $100. We'll call it 90, I guess, to be exact, but almost $100 for Netflix. And Disney, I mean, boy, you were at some doldrums here. You back up the five-year weekly. Absolutely remarkable that Disney is trading at a price tag when the world ceased to exist in terms of travel and hotels, right? Think about what was priced into the share prices of Disney when the whole world shut down. Well, that's where you're trading that right now. You give it all up, right? Give it all up from 203 to 83. Now, you're looking at that chart, you can make the case that that might be a nice position if you're looking for a longer-term position for Disney, okay? This might be an area that you could begin scaling into this equity. Doesn't mean it can't go lower, man. You're trading at 4,500 in the equities, okay? This S&P trades lower. Disney's going to trade lower. You have to be aware of that. But you're at a price tag that you're buying it at the pandemic lows. Three years later, the only thing I'm going to give you is a little bit of context, which is that in the year 2011, so you're only talking about 12 years ago, this equity was trading at $31, okay? So what did you do? You accelerated from $31 up to 120. You chopped around for a bit and basically we're just trading at the lower range of that consolidation of about $83, let alone, right? When you were in the 2008 crisis, $16 for Disney shares. But a tough go-around, longer-term though, streaming's going to be a battle. There are many streamers in the world, folks. There's only one Disney world in Florida and that's going nowhere and they get to charge a premium for that, for sure. All right, what else we got going on? We'll go back to a short-term chart. We'll pull up the markets, S&Ps down about 10. Let's jump around to some of the fang stocks. A lot of talk of Apple coming out with the new phones. Apple shares up today again, up by about two-tenths, quite an acceleration yesterday for Apple from 175 to 179. We jump over to Microsoft shares, down a bit, down about nine-tenths percent. You get the Nasdaq 100 off 65 points. You jump over to Google shares, down about half a percent as well. Kevin mentioned they'll be talking about NVIDIA shares on Fast Market on the Schwab Network at 12 today. NVIDIA, down about eight-tenths percent for them. General Mills as well, not in there, but up about eight-tenths. They got everything, man, General Mills. All right, what articles, what other news we got coming up? Let's take a look. Where are we? We talked about the Fed. Well, this one's interesting in terms of strikes. We've talked a lot about the auto workers on strike. You get the Hollywood writers on strike as well. That one not getting as much attention as you have the three big automakers striking for the first time ever simultaneously. Now, Bill Maher, who I enjoy his show on HBO, and last week, he came out. He said, we're coming back, man. I'm not going to give up a whole year for the screenwriters. And his case, okay, and listen, everybody's biased, okay? He's got a program. He's a producer of that program, okay? So he's basically on the other side of the writers, okay? But what he's arguing, and I give you the context, that he's got a bias, okay? He's got a piece of the action in terms of that show getting produced, is that there are so many other people that are part of the production of programs that are getting hurt that are not part of the screen actors, grills, or the writers, right? You're talking about the technical staff. Just the staff of the programs. They're all out of work. Nothing's getting produced, okay? Well, guess what? So a lot of my friends were talking about, at first, that, number one, he usually has a bunch of people from Hollywood on his program. You're not going to have anybody from Hollywood on the program when you're coming back while all of Hollywood is on strike. So it would be a completely revamped program. One of my friends was talking about, you're going to see a lot of Neil deGrasse Tyson on that program, which is sad. And I love Neil deGrasse Tyson, a science man. You've got to enjoy science. We'll finish this conversation up, but guess what? He says, you know what? We're not coming back just yet. Negotiations are going on. We'll see if they go on. We'll talk a little bit more about this when we get back. Stay tuned, folks. We've got a lot to talk about. It's Fed Week. We'll be back in three minutes. You might think that if you want to be successful at trading in the stock market, you're going to need a crystal ball. After all, it's impossible to predict the future, right? 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Nasdaq off 51, Dow off 87, Russell barely in the positive. We were talking about the writers on strike and just one example of how this is playing out. So you had Bill Maier, real time with Bill Maier on HBO. He had come back, said he's coming back on now. There was no end in sight, so he wasn't willing to give up a full year for that with no end in sight. One of the reasons that he's saying that he's not bringing the program back yet, and I say one of the reasons that he says that, we don't know the real motives, because everybody has their own personal biases and their own personal stake in everything going on, and he is a producer of that program. So yes, he might be a writer, but he is a producer, man. He's on the other side of the writers on this one, was that they have negotiations resuming. So when there was no end in sight, it wasn't happening, but you have some other talk show hosts, including Drew Barrymore, I guess, Jennifer Hudson over the weekend, reversed their ideas to bring the programs back. But guess what? The other factor here is they faced a barrage of criticism, including being dropped as the host of the National Book Awards. What I don't understand is, you gotta know what's coming, right? You come out and you say, guess what? We're going with the show. We're doing it anyway. You gotta be ready for all of that. So as usual, folks, the truth probably lies somewhere in between. If they think there's a potential for some maybe progress to be made, yeah, maybe you put it on hold for a little bit. Maybe the criticism was a little bit more than you had anticipated, and that's what Mr. Mayor said. I'm not prepared to lose an entire year and see so many below-the-line people suffer so much, and that is one real aspect of things, right? They're not members of the writer's guilt, okay? They're not members of the screen actor's guilt. The people who are some of the technical staff that man that program are out of work waiting for the writers to come back, for the shows to come back. So you're going to see this play out, but negotiations are back on, and that is, so they're set to resume this week. Is the negotiations are set to resume this week? So we'll see if they make any progress, and that, of course, is going to weigh on things in terms of Netflix, Disney with Disney Plus, Warner Bros. Discovery, et cetera, as some of those movies getting pushed back. Now, Netflix has a lot of programs in the queue, but eventually it's going to hit everybody in terms of pushing back the production timelines of everything going on. All right, what else we got going on here? Yeah, let's talk about yields, man. I had a Fed Day tomorrow. The five-year yield rising to the highest level since 2007. We talked about it. What are we at right now? Let's pull it up. We are at a yield of 5.08 percent, folks. 5.08 percent. That is quite a number. As I talk about that, I'm going to pull up those CD rates at the same time right now, because boy, you are pushing some numbers on the CD rates. I've talked about it before. If you're looking for a risk-free rate return, if you got money in the market at 4,500 and you're not willing to hold out for a potential pullback, if we get one, yeah, you put yourself in some CDs, man. You can ladder things pretty efficiently right now. And I'm pulling them up. Just give me one moment, because I really want to see where that number sits, because they are at right now. Look at this number, man. So a five-year ladder is yielding you 5.07 percent over five years, folks. And what that is doing is that is pushing. The one-year is yielding you 5.5. The two-year is yielding you 5.3. The three-year is yielding you 5.05. The four-year is yielding you 4.85. And a five-year CD, non-callable, okay? So bank can't call it back. You're locking that in for five years. A five-year CD right now pushing 4.65, 4.65 for the five-year. You ladder that out. Your average percentage yield over five years is 5.07 percent. Now I bring it up because we just talked about, right? The two-year yield for the Treasury is 5.07 percent. But that's not the number that you can get right now for an FDIC-insured CD, which is 5.3 percent non-callable. Pretty remarkable numbers, man. And that's not going away anytime soon. The Fed's going to stay where it is for some considerable period of time. All the conversation is about potentially our star getting pushed a little bit higher. The natural rate of growth in this economy is probably above 2 percent right now with where we are. We'll see if the Fed is going to acknowledge that at any point. But it would make sense that you got the five-year, the Treasury five-year yield pushing 5 percent right now. What's the number that's at? 4.50 percent, we'll call it. Exceeding the 2022 high, you can see, and you're talking about going back all the way to 2007. Now this ain't going to last forever, okay? There will be a recoil to some degree. And Chairman Powell is going to have to answer for a lot of it. Tomorrow, boy, he's going to have quite the lineup of questions with everything in tow. All right, jumping around to a little bit of Vegas. I was enjoying this article Wednesday night yesterday, but reading it this morning on Bloomberg. Interesting to see where Vegas goes. Now this one is the Fountain Blue, okay? Interesting article. I'll post this in the den, because just an interesting article in general about Vegas. I bring this up because I used to play a lot of poker, still enjoy the game, haven't played in a while. Time is quite a commodity right now with a two-year-old. Vegas' newest resort, a $3.7 billion palace, 23 years in the making. The Fountain Blue brand, familiar with Miami, I believe, is where they have their other big resort, right? Where are they? Let's see. Yeah, Miami Beach, okay? They're trying to bring it now to Las Vegas, and it is interesting. They talk about this. So this is Jeffrey Soffer, okay? So his dad started this business who's 90 now. He runs it now, acquired the land in 2000. That's what they're talking about. Almost a quarter century. Imagine that for this deal to get done. You got a couple crises in the process of there. They almost had it built out at 1.70% done. You had ICON come in and buy it for pennies on the dollar. I'm going to jump around here because, boy, there are some cool parts of the story here. Where's the number? Come on. Here we go. With over $2.2 billion invested, and the resort about 70% finished. In 2009, their bank pulled financing. 2009, the crisis was there. They declared bankruptcy. ICON came in. He lives three doors down from Soffer in Florida and bought it for $156 million. Sold off the furnishings. At one point, the empty building was used to train firefighters. Nonetheless, they got it back. They're pushing it out right now. Now what's so interesting here is, okay? This is in a different part of the strip, and the gamble that he's making, because it's a gamble, folks, and a lot of business is gambling, is that people don't need to walk around. Because where this casino is, is the location on the north end of the city's famous strip. Very far from properties like Bellagio and Caesars. And I love that area of the strip. Bellagio, Caesars, Venetian, not far from there. The good old Flamingo, is it still called the Flamingo? Maybe somebody can help me out in the den. I think it's still called the Flamingo, right? Haven't been to Vegas in a little while. Used to stay at the Flamingo in my 20s, man. Great hotel, right in the mix, affordable. A little bit outdated, I should say. So what he's making the case is, is that people come, and his particular customers are not as interested in walking around. But guess what, man? There is another casino out there. Resorts World. Sits across the street from Fountain Blue. That thing is a disaster. When it comes to how much money they're taking in, they spent $4.3 billion. You gotta be in the action. See where it plays out. Stay tuned, folks. One more segment. We'll be right back to finish up the show. The Gold Report. As a precious metal, Gold is still king. It continues to hold the most effective safe haven and hedging properties across the global major trading hubs of the London OTC market. The U.S. futures market. And the Shanghai Gold Exchange. The Gold Report. Tom O'Brien publishes his weekly Gold Report every Monday morning for subscribers, consisting of coverage of the XAU, HUI, GDX, The Dollar, Bonds, the South African Rand, as well as 25 different mining equities with specific buy-sell recommendations. 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When you subscribe, you'll get a weekly report from Veteran Day Trader Larry Pezzavento on stocks you need to pay attention to, and you can trust Larry's analysis. After all, he's got 45 years experience as a day trader. Larry will also provide daily charts, videos, and data on the key markets that he's tracking. Expect notifications from Larry on market movement you need to act on at any time. First-time subscribers also get a 30-day money-back guarantee. If you're not satisfied, let us know, and you'll get a full refund within 30 days of signing up. Subscribe to the Fibonacci 24-7 newsletter today. TFNN.com. Educating investors. We kicked off the program with the S&Ps down about 12 points at 44.88. You see we came into this number just prior to the market. A little bit of volatility up to 44.96. Back to 44.89. Not sure what kind of market action we'll get today as we basically anticipate Fed Day tomorrow. All eyes on the chairman at 2.30 p.m. Eastern time, of course. Economic number we did get this morning was housing starts and quite a decline. New U.S. home construction dropped in August to the lowest level since June of 2020, highlighting the toll of declining housing affordability. Residential starts decreased 11.3% last month to 1.28 million annualized. This is basically the last data we get before the Fed. Applications to build, which would be a proxy for future construction, picked up to 1.54 million. That's the most in nearly a year. Permits to build one family home is accelerated to the fastest pace since May 2022, indicating optimism about future demand. So maybe right now is where things are pairing a bit. But nonetheless, future demand potentially, but housing starts on the lower number, to say the least. And the last article we'll finish up with found it interesting. We've talked about it here before in the program many times. Zero days to expiration options. The most popular options trade turns a dollar investment into a $1,000 stock bet. They just talk about a lot of the same stuff, man. This one out there from Bloomberg talking about the low price tag makes zero DTEs, a popular tool to speculate on shares, calls it the fantasy football of option trading, but keep it on your radar, folks, okay? Because you jump over the spy, it's not hard to understand. You jump over the spy, you jump into the trade, okay? You pull up the options that are expiring today, and it doesn't take a mathematician to understand that if you wanna buy a call, let's call it a 443 call, your 50 cents out of the money, you're paying 59 cents to control an equity share that trades at $443. That's it. That's the simple math of the article, folks. You're paying about a dollar to pay for about a $900 equity. So zero day to expiration options. They are the vogue. They're affecting this market. But guess what? The Fed is gonna be affecting this market come tomorrow. We got the markets at session lows right now, 44.87. We finish it off with yields, up on a bit, the 10-year right now. They feel folks, we got everyone back. We got our man fast. We got Larry, Kevin Hicks coming up at 12. We got our man Steve Rhodes back as well and coming back this afternoon. Thanks so much, folks.