 Following is a presentation of TFNN. Trade what you see with Larry Pezzavento. Call now toll free at 1-877-927-6648 or internationally at 727-873-7618. Now Larry Pezzavento. Welcome everyone, uh, not here, Jacob. I'm going to keep pulling in, maybe I need to get a short intro or something like that. We'll look into it. What do we got going on today? Well, we are sideways a little bit down in the market today. Yes, many down 3.7 percent, the Russell up about 0.17 percent. Dow futures up 0.18, gold contract down a 0.63 silver sideways copper. Coming back down a little bit from a minor uptick it had yesterday. Light sweet crude. So at 89, we are pretty high right now. I think the Brent is currently in 92-222. So, you know, with this, we have CPI coming out. CPI is going to be a little bit higher tomorrow because of this uptick in oil. The core CPI has been deflating just a little bit. So, you know, it all depends really what the headline is going to kind of be tomorrow and how people react to that. You know, I've even seen in the past, it doesn't seem like the market is too dependent on this. But I think we will have a higher CPI going into tomorrow and then also for September, it'll be exceptionally high as well. But if there is a, you know, there's a big enough focus on the core CPI coming down a little bit, maybe we'll remain unscathed. Regardless, it seems like the market kind of just does what it wants to do anyway. Take a look today. Well, first here, let's run into this. OK, the dollar 104.75. Just coming down from that 105 mark from a few days prior, I'm at it down almost 2 percent. Google down 0.83 percent and Disney covered a little bit at $84 almost. And then Apple as well. They're releasing the iPhone 15 soon and hopefully that'll get them a little bit back up from what they lost regarding the China news. Steel Dynamics, we hit that major level right here, that 100 mark. We've breezed low it again. That was one of the last days with volume was up at this 101.79 area. Tested it again, kind of shot through it on some light volume though. I'm looking at this. If we can get a rejection of this level on some volume, we might go back up and you see it kind of flirts, right? It hits down here at this 100, no 99 level comes back up and it first with that 1010 level and it's been doing that, you know, really since about June, beginning of June of this year. We'll take a look at Newcore as well. You can see a similar pattern basically with this consolidation coming back. Now, this started really in July. There was a ramp up in June where Steel Dynamics was already kind of trading in that pattern since then. We also have a pull down. So what's going on regarding Steel? Well, you have a lot of factors, right? First of all, let's talk before we get into that, we'll talk in Newcore, right? Regarding Steel, Newcore, it was looking at the short interest for them. And it's only about like, let me get this number exactly. Yeah, a short percent of float has risen to 5.73 percent. The company has recently imported that 5.51 million shares sold short and that's 2.95 percent of all regular shares that are available for trading. The industry standard for Steel is around, I think, 3.25. So there is less short interest open on Newcore. And they're a solid company, people like them. But looking at the fundamental of what's going on with Steel, too, you know, obviously there was a huge, huge price run up in 2021. That's where we saw Steel Dynamics go from around the $58 area busting up to 79 and now are trading in the hundreds. Newcore did equally as well. You have slowing demand worldwide because of inflation for these manufacturing outputs going down. Obviously, you have the global conflict in Ukraine and Russia and everyone's involved in that. And then China as well, which is a, you know, demand Steel. Their slowing economy also has kind of put a price dead. And that's going to be felt a little bit more in India, so not so much impacting us. But, you know, these markets move in somewhat some kind of relation, even if some of these companies aren't exporting on a global level. All right, other large news oracle got shredded. Let's take a look here. Oh, boy. Oh, it wasn't this bad this morning when I was taking a look. Wow. Yeah, trading at the open. Oh, man, what are we at right here? 114 down to 108. So today losing about 14.8 percent. So what the heck is going on with that? So they come up short on revenue. There's other competitors they have as well in this kind of AI field. However, their contracts are pretty good. So their kind of financial team is just trying to rely on that. This is quite a significant sell off. So some of the key points for this is Oracle fell short on license and hardware revenue in the fiscal first quarter. Quarterly revenue guidance was also weaker than expected. And the company announced new database hardware and artificial intelligence software features during the quarter. At the time of this kind of article, which is earlier today, they're down 9 percent, fall in an extra 6 percent since then. The earnings are one dollar 19 per share adjusted versus a one 15 per shares expected by analysts. Revenue 12.45 billion versus 12.47 billion is expected. Now, Oracle's revenue grew 9 percent year of year in the fiscal first quarter ending in August 31st. That income rose to 2.42 billion or 86 cents per share. Obviously, in June 2022, they closed a 28.2 billion acquisition of CERNR, which is an electronic health record software company. And according to them, they're now an accelerated transition of CERNR to the cloud. Oracle's cloud service and license support segment produced 9.5 billion in revenue up 13 percent. But the cloud license and on-premises license segment posted 809 million in revenue, which is off 10 percent and lower than the 892.7 million consensus that was there prior. Hardware revenue declined 6 percent and their cloud infrastructure revenue increased 66 percent. But that was slowing from 76 percent in the prior quarter. So there's a slowdown in the company. Wow. I mean, is this warranted? I'm not really sure. Now, of course, they have a lot of other competitors. So we'll kind of see what goes on regarding that. So pretty pretty nuts shave off from Oracle earlier today. So this is another interesting article, too. And it's asking, you know, we're having kind of this slow it's low volume, but like a slow burn a little bit in some of these stocks. And I lost my headphone there for a second. Give me a moment. And I was mentioning this a little bit last week. But we have a lot of large amounts of wealth kind of exiting the stock market and moving into bonds, especially corporate bonds have seen a lot of interest recently and then private equity as well. More than half of some of the wealthiest families that were polled in America accounting for combined net worth of five hundred and sixty five billion. They increased their allocations and fixed income while 38 percent boosted their private equity holdings. And by contrast, 38 percent reduced their allocation in stocks. Guys, stay tuned. We'll talk a little bit more about this when we get back. Currencies, commodities and bond markets are as important as ever right now with how they're driving the volatility in equity markets across the globe, which is why it's a great time to try out Teddy Kegstad's Tiger Forex report. Teddy Kegstad breaks down the forex markets every Monday using his 30 plus years of experience as a trading veteran of futures, forex, stocks and options. Teddy releases his weekly Tiger Forex report every Monday morning with coverage of all the major currency pairs, including the dollar index, the euro dollar, pound dollar, dollar Swiss, dollar yen, as well as many more. And he also has weekly coverage of the crude oil market and the 30 year T bonds as they both influence forex markets tremendously. When you sign up for the Tiger Forex report, you also gain instant access to Teddy's 60 minute Webinar Archive. He just hosted forex strategies and fundamentals. What is behind the Tiger Forex report? For all the details and to start your 30 day Tiger Forex report subscription today, visit the front page of TFNN.com, TFNN Educating Investors. 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 US 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. The Gold Report. New subscribers get a 30 day money back guarantee, so you have nothing to risk. Subscribe to Tom O'Brien's Gold Report newsletter now at TFNN.com. Market Insights provides the edge you need to navigate the markets with confidence. Ready to join the ranks of successful traders? Head over to TFNN.com and subscribe to Market Insights today. Don't miss out on this opportunity to supercharge your trading results. Market Insights comes with a 30 day money back guarantee for all new subscribers, so you have nothing to risk. Don't miss out on this opportunity to revolutionize your trading game. Head over to TFNN.com right now to join the thousands of traders who have already experienced the power of Tom O'Brien's award winning newsletter Market Insights firsthand. TFNN Educating Investors. Call now toll free at 1-877-927-6648 internationally at 727-873-7618. Welcome back. Before we went to the break, we were talking a little bit about how some wealthier families and some firms are pulling some of their money out of stocks, going into fixed income instruments. So that number again was 38%. These are people with a combined net worth of $565 billion, a demographic with this. Increased allocations, fixed income, 38% boosting private equity holdings. By contrast, 38% reducing their allocations in stocks. This is having to do with some fears, something from U.S.-China tensions and inflation and market volatility and other geopolitical concerns. So there's that for you. Guys, how crazy is this? We talk about cybersecurity on this show all the time. You're talking a little bit about, oh, before I even go into this, talk about some kind of serendipitous moment after my show the other day when I was talking about United Airlines. We were amusing that there might actually be some kind of actually like cyber breach as opposed to just a glitch in their computer systems. I went to a cafe later in the day and actually ran into this guy who did project management in IT for not United Airlines, but another airline company. I brought this up to him and he was dubious too on it being a computer glitch because he says there's so much redundancy in communication between air traffic controllers and pilots and the computers that you could suffer a serious collapse in the network and still get things going and still keep them moving. So something to muse over and again these companies do not need to report if they've had a breach in its capacity. However, MGM resorts did decide to report on it. Slot machines go down in cyber attack on the firm. Certain systems were shut down due to cybersecurity issue the firm said. It added that its facilities remained operational. One customer at the MGM brand in Las Vegas said she had walked into the wrong room and the hotel's digital keys were malfunctioning and said the staff had to distribute physical keys. Staff offered her a complimentary stay as a compensation. She also posted a video on TikTok of slot machines and gambling machines that the resort switched off and a statement posted on the application formally known as Twitter. Oh, it even says that. I thought I was being clever. Anyways, MGM resorts said it has begun an investigation with assistance of leading external cybersecurity experts. Pretty nuts, we get it. This happens more often than you think, folks. I still think going forward this is going to be a massive industry. It already is, but commercially speaking it might get a little bit more, you know, gas as time goes on. So one second computers doing that fun freeze up thing. All right, we got to go in now. I'm talking a little bit about steel and just kind of a global slowdown in manufacturing. This happened in America as well, not as much. This is from my financial times, looking what's going over, you know, on the continent out there. This is the German builders are warning of a crisis as they scrap record number of projects. The proportion of construction groups reporting lack of new orders surged to 44.2% in August. So, you know, Germany itself is fixing to have a pretty tough financial year and their economy might contract a little bit. You know, obviously America is far more resilient, but you know, when something is going wrong here, an industry, if the Germans have something similar, it is going pretty negative for them. And we can get a little insight of just what's going on globally with all this kind of stuff. You know, canceled building projects of financial distress among landlords and builders in Germany have hit their highest levels since reunification three decades ago. Intensifying the construction crisis in the EU's biggest economy. Hit by rising interest rates, soaring costs, a weaker demand, 20.7% of construction companies have been forced to scrap a project in August from 18.9% in the previous month according to a survey of 500 businesses by researchers at the Eiffel Institute in Munich. This is a pretty intense kind of situation here. Obviously, there's still some buildings going on in America. It's still relatively strong. And Germany is in a far, far, far worse situation. But just looking on a global level of kind of what's going on and how this new, you know, global interest rate increase is kind of affecting different places, I think is interesting nonetheless. Moving forward, staying with Techbit, I would recommend checking this out. Elon Musk and Zuckerberg are in talks, are going to be in talk within the Senate forum on Wednesday about AI ruling. That'll be interesting to see. Senate Majority Leader Chuck Schumer of New York, a Democrat, is convening an inaugural AI Insight forum on Capitol Hill Wednesday, bringing together some of the biggest names in tech to help lawmakers understand the technology and how to regulate it. Attendees include Tesla, Elon Musk, Bill Gates, Zuckerberg, and Google's CEO, Sundar Pekai, and Schumer Hopes and Meeting will provide a foundation for future legislation. This will be super interesting to listen to and I recommend when you have time and TFNN isn't having their programming that you check this out. Chief Executive of C3.AI said, AI execs are playing a rope-a-dope with lawmakers asking them to please regulate us, but there's not enough money and intellectual capital to ensure millions of algorithms are safe and they know this is impossible. Wednesday's forum is the latest stab by lawmakers and companies to get ahead of potential disruptions wrought by generative AI to jobs and society as a whole. They fear a repeat of being absent after they largely ignored the harmful aspects of social media years earlier, which regulators recall with dread and guilt and even furthermore with what happened with some of the labor drain out of the U.S. around the 80s and stuff like that. I know this is a natural thing when society progresses but it doesn't mean that we can't figure out better ways of progressing forward. So I will definitely be tuning into that. I'll probably watch some of the highlights after work tomorrow, but it seems pretty cool to check that out. I've already spoken about this as well, but there's some more information going on number-wise in particular is the credit card usage is jumping as consumers in July at 10.4 billion in debt. The American consumer really is about to have a hard time right here and then defaults are increasing as well. Revolving credit grew at 9.6 billion, mostly in credit card debt, while consumers also added another 773 million for auto loans and other non-revolving debts. The Federal Reserve report on consumer credit showed a total outstanding credit of nearly $5 trillion. And delinquencies at retailers like Nordstrom and Macy show more credit strain could be coming. And you know, this is so nuts too, but I think about this sometimes and what really led to everyone being able to purchase so much during the past two years. Obviously you had stimulus, but is that really enough? And I think back to a friend I had, and he was an EMT, and he had been an EMT, I think maybe six months or something like that before quarantine really hit. And EMTs do not make a lot of money, which is a shame, so integral to society. I think he was making something like $15 an hour or something like that in the area. And then all these government contracts started coming in regarding COVID. And I'll talk a little bit more when we get back from it. Anyways, these guys were making an insane amount of money. And I'll talk a little bit more when we get back. Folks, stay tuned. We've been trading traders for more than 20 years, with live programming hosted by a variety of professional traders during market hours. And now they are expanding their reach with the Tigers Den, available to all Tigers and Tigresses for just $1 for the year. There's no cash or added costs when you join our community of traders. 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So we're talking about increasing credit card usage and then delinquencies that are following, and we were kind of using on why people were spending so much over quarantine and how I got to it. I was talking about a guy that I knew whose EMT was making about 15 bucks an hour, then he started going on these government contracts and obviously, you know, especially with nurses, they get hazard pay, which is even more, but then he started making about 38 bucks an hour working at the border and then some nurses that I knew were making unbelievable money. I knew one who was making like 78 bucks an hour as a travel nurse and hazard pay and there's like, at least for RNs, there's something around like 5 million in the U.S. and plenty more healthcare workers and other workers who received hazard pay and were on contracts they're making so much money. I personally think at least in the area that we were in here in St. Pete where headquarters is, that was a major driver for a lot of price increases and so, you know, one could think as well, I mean, we'll talk too about being depressed and things getting a little bit harder for people, especially with price increases which absolutely adds to people using more consumer credit but I think too, some people sort of living within a certain level of means and in some ways haven't really downsized on it. To this article the total consumer credit increased about 10.4 billion and that includes an increase of 773 million for non-revolving credit and that's auto and school loans and that brings the U.S. outstanding consumer credit to about 5 trillion of that 1.27 trillion is in revolving credit and that's credit cards lines of equity and then other lines of credit. Yeah, pretty insane. This is in what they're saying here is inflation pushes the debt higher, which we all know. Furthermore on this, you have a lot of businesses kind of indicating the Federal Reserve that the wage gains are subsiding is over the 12 months ending in June and the wages were increasing by more than 4.5% and we're having a slight decrease and of course also you're getting not as many people hired and job market is getting a little tighter and stuff like that and you might see an increase in default as more people for the short term are moving into using different lines of credit. So this is something to be pretty cognizant of going forward it does show some kind of shaky situation for the U.S. consumer economy. You know it's important to not always look at how the stocks are doing and how the market is doing and how fixed income is doing and all of that. I mean you have to look at what the consumer is going through as well. You know these are two different lines of the economy but they're both equally important. So let's see here, pull it up. Right. Here we are. In further news there's some regulations going on NYC. This is happening in St. Pete too. This is surrounding Airbnb and Verbo regulations. So I can say north of where we live is a city called Largo and I have some family members who live up there and you know these traditional neighborhoods with whatever kind of names like Shady Oak or something like that which are just single family ranch style homes. And he doesn't have a single neighbor in his immediate proximity. So I mean two houses down to the left to the right behind him or in front that have actual families living in them. These are all Airbnb's or Verbo's and I mean obviously he hates it because you get all these young guys moving in for some times and they just want to party and they're coming to the area for a short amount of time and don't really care and I mean this one it increases the price of housing you know because all these are getting like eaten up by people who want to rent them out and it decreases the quality of life for families who actually live in these areas. Now this is a little bit different in New York City just the living style in general but short-term rentals in New York City recently became subject to new restrictions in New York City the mayor's office of special enforcement's administration of the new rules have been underway for just a week with the OSC's initial phase kicking off September 5th under the law anyone who offers short-term rentals has to become registered with the OSC and has to follow rules like ones that bar them from renting an entire registered dwelling unit for less than 30 days according to the regulation local law 18 also prohibits booking platforms from processing transactions for unregistered short-term rentals this creates a clear path for hosts who follow these long-standing laws and protects travelers from illegal and unsafe accommodations you know I still think going on to as there's already laws especially like in New Orleans and Atlanta and stuff like that they're pushing some laws on how many Airbnbs can be in one area, how long you can rent it out for so on and so forth these are still pretty strong companies fundamentally speaking but I think it's important to keep in mind what different local governments are doing regarding because Airbnbs in particular are a massive, massive company so Peloton is in some tough water yet again with their product just being extraordinarily dangerous let me see here we're going to monthly you took a big loss right here furthermore they're under a lawsuit now claiming that the Peloton had instantly killed someone by severing an artery and we've heard this before and this was like a big big kind of mud on their face these were dangerous for children and they just weren't safe kind of devices but this one the man fell and it hit an artery of his so now they're being sued and that opens them up to even more kind of regulation and maybe they have to pull products off which are already in a tough spot because they had such an oversupply product and that really tanked their stock price when they weren't able to move it out according to the lawsuit this individual was completing a core workout which required him to dismount from his Peloton bike and do some exercise on the floor when he attempted to rise again he used his bike to help him get up and the equipment allegedly spun around and impacted him in his neck and it just so some pretty nuts kind of news with that and it's just some more bad news on going forward we were talking about some scams yesterday about some people using AI to mimic loved ones in distress and they would basically extract money from the target and with student loan forgiveness and one of the things I was saying is anytime there's something new going on that's going to involve some kind of financial transaction and I brought up for instance like aid to the Ukraine or something like that right? there's going to be a scam and it's getting very complex this one since student loans are resuming pretty soon is basically a forgiveness scam and it's quoting the full discharge of all your federal student loans and you click this link here so scammers are trying to prey on some of the 44 million Americans who start making their first payments in more than three years more than 350,000 student loan related robo calls have been placed in two weeks roughly as many as in the nine prior weeks and this is from an organization that analyzes calls jumping student debt related scams has come as the first payments in college loans are set to resume in October following a pandemic era pause that began in 2020 and yeah essentially what this is going to do is try to give them sensitive information and you'll forgive the loans and they'll be helped out that's obviously not true if you get this call you'll be very wary folks stay tuned we'll be right back sharpening your skills as an investor is like getting better at playing a musical instrument you have to practice sure but you also need excellent 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the prospectus or summary prospectus should be read carefully before investing an investment in the funds is subject to risk including possible loss of principle the funds are designed to be utilized only by risk-kitted investors such as traders and active investors distributor four-side fund services LLC this program is brought to you by Vista Gold traded on the NYSE American and TSX under the symbol VGZ welcome back folks alright so we have a kind of sideways market right now the N and Q down almost a full percentage point Dow futures up point 12 percent and the ES kind of moving down here let's get on the daily yes so retesting its lows here almost we'll see where we close with that again it's so hard to tell especially with you know we can we're gonna you know it's probably gonna be safe to say that the CPI will be higher than had been originally anticipated tomorrow due to the increase in oil prices we'll see really what the what the core CPI is gonna look like and that in my opinion will be the major mover if it's not good we you know I think in the past people hadn't really fully gathered that these interest rate hikes were gonna increase and I just remember like I think like in May or something like that when pal was talking I mean he said like these interest rate hikes weren't over yet and the resounding response by a lot of the market at least you know online was gay right on the economy is doing okay and it's you know there's just a disconnect there with what leadership is saying and what people are wanting to do and maybe the reality of the situation is really coming through so you know we're seeing you know a flocking out from stocks again into these fixed incomes and you know securities so this particularly corporate bonds but you know if core CPI isn't good tomorrow we might see an even larger drop as well when in the past it was kind of a shake up of what was gonna happen with the market depending on inflation numbers take a look still dynamics are pretty flat Tesla selling off just a little bit at 2.27% I think it was just profit taking honestly they had such a significant run up the past few days the dollar still staying pretty steady at 104 meta down 1.87% not much has changed since the beginning of the show draft kings got into some hot water yesterday I don't know if it really meant anything for them they are down 2.66% right now what had happened is you know they had the Jets game yesterday and the Mets and the Yankees they had like a New York kinda this is rough man yeah the promotion that required three New York based teams which are the Yankees Mets and the Jets to win their games Monday and the header above that was in memory of September 11th obviously a little bit tone depth so they got a little bit of hot water on that say if this price decrease really has anything to do with that hard to say but regardless that's what they've been up to not a good not a good look some more social kind of developments going on California fast food and health care workers poised to win major salary increases nearly one million California workers are poised to win major salary increases after labor unions flexed their collective muscle and the state's democratic led legislature and it really is insane to see kind of almost a major resurgence of some of the unions you know there's been a lot of especially this year especially with inflation going up you know in an attempt to kind of depress wage growth by the Fed and even employment by the Fed so one could probably assume that you would hear more noise from unions going forward most of the state's 500,000 fast food workers would be paid at least $20 per hour next year under a new bill aimed at ending a standoff between the industry and labor unions over wages and working conditions about 455,000 health care workers not doctors nurses but people who do everything else at hospitals which diocese clinics and other facilities will see their salaries rise to at least $25 per hour over the next 10 years in a separate bill and how you could be making that much in California and surviving I'm not really privy to because that seems like it I mean that's rough to live even in this area on that kind of salary. Both proposals must first pass the state legislator and be signed into law by new some proposal been blessed by both labor unions and industry groups and that would be a huge win for unions going forward the minimum wage is already high excuse me among the highest in the country at 1550 but still I feel like that's just that would be a rough time working with that kind of especially in California it's just so expensive and you know this is one of the positive things with unions you know it helps people get together and maybe argue for higher pay so regardless moving forward with that sales force has some more developments they've launched an AI assistant across its apps that's slack ant blue tableau okay enterprise software maker sales force on Tuesday launched a generative AI tool that be available across its suite of apps from instant messaging services slack and data visualization tool tableau and can be tailored by its clients to meet their needs again this is the major thing that generative AI will do is act as your own kind of personal assistant the assistant called the Einstein co-pilot can summarize video calls deliver personalized answers to customer questions and generate emails for marketing campaigns among others the company said ahead of its dream force conference I'm laughing at that because there's been this like meme going on online people who are in arguments with their significant others and they're using AI to kind of write apologies or argue for them which you know kind of sketchy but regardless the San Francisco based company had launched the Einstein GPT gen AI product in March the company doubled its venture capital fund for generative AI startups to 500 million in June so that's pretty good look out for sales force they've been doing pretty okay this year as well let's see crypto big sell-off the past few days we get the exact number on it's 185 million liquidated in crypto sell-offs as Bitcoin Ethereum and Dogecoin plummet amid a volatile market I also think you know Elon Musk can kind of influence these things as well especially Dogecoin that's been his pump and dump thing and he came out recently saying but he doesn't see the blockchain as such a positive thing and that had some ripples at least within the Dogecoin community but over the past 24 hours it would have been 48 by this point the cryptocurrency market experience significant liquidations totally over 185.97 million these liquidations included long and short positions with longs accounting for over 144 million and shorts totaling 41 million blockchain data reveals most prominent firms such as Jump Trading Winter Mute in Abraxas Capital made substantial deposits of cryptocurrency to various exchanges during Monday's market sell-off these deposits were made in Bitcoin Ethereum and Arbitrum's Arb Token an asset manager at Abraxas Capital transferred 14,000 ETH worth about 22.5 million so there's a big exodus out of this and so he goes again I still think the relationship between upper market beyond interest rates the relationship between the dollar, cryptocurrency other assets and stuff like bonds and bills and stuff like that I don't know if it's so set out right now but there's obviously a movement taking quite a bit really what's happening is there is talk in the G20 about doing some kind of global regulation on crypto which would be a huge L for all holders and especially for those that have some kind of ideological attachment to things like Bitcoin and Ethereum as a way to kind of extricate themselves from the traditional financial system I think that was a hard drive to sell anyway I personally believe this is why they're moving it out just to get some extra cash and protect themselves if anything happens in the near future folks stay tuned we'll be right back for a short segment 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 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and tiger's for just $1 for the year there's no cash 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 the Tom O'Brien show next on tfnn welcome back folks we're taking a look here the ESMIDI down about 5.5 6% Russell sideways the NQ still down just cracked over 1% right now on some lower volume this crack down here at least in the ESMIDI was at as high as what we've had earlier especially during the open on that uptick some quicker news and this is regarding Tesla they're about to invest 15 billion in the Mexican factories that they have a state governor in Mexico said on Monday that Tesla and its suppliers would invest 15 billion over the next two years in a factory that is still under construction an amount that is triple what the Mexican officials previously previously announced Musk said his company would open a gigafactory in northern Nuevo León state part of electric car makers push to expand its global footprint at the time Musk did not detail the investment but Mexican officials said the factory would involve a 5 billion investment at the time of it being initially disclosed on some interesting news for the day kind of along the lines of some of the science information I like to bring at the end it turns out that FDA says Sudafed doesn't work which is wild to me the leading decongestant used by millions of Americans looking for relief from a stuffy nose is likely no better than a dummy according to the government experts who review the latest research on the long question drug ingredient advisors to the Food and Drug Administration voted unanimously on Tuesday against the effectiveness of the ingredient found in popular versions of Sudafed, Allegra, Dayquil and other medications bottom studies when well conducted are not showing any improvement and congestion with phenolephrine that's one of the doctors we're looking at and he's an allergy specialist which is just nuts FDA assembled its outside advisors take a look at phenolephrine which became the main drug in the over-the-counter decongestants when medicines with an older ingredient Pseudoephedrine were moved behind pharmacy counters how about that guys anyways thank you so much for joining me we have Tom O'Brien up next the man himself I will be with you tomorrow and throughout the rest of the week and then we'll have Tommy back the week following have a great rest of your day