 What's going on, folks? My name is Jacob. Let's read a little bit today. So the card for today says there are two halves in every relationship, but you are only responsible for your half of the relationship. It is not up to you to control the other half. Respect the other half, and there is always going to be peace in that relationship. Very beautiful. Can't say much more than that, right? So our number is 877-927-6648. You can email me at Jacob at TFNN.com. Also reading the Tiger's Den. If you're not in there, you got to get in there. And I'll also be checking the YouTube comments. So we got a lot of talk about today. Let's just go through the major indices first. We have the Dow Jones is down only 0.48%. Let's see here. The Nasdaq down about 1%. Another one I want to focus on a lot will be Dow Jones' transportation average, which is down 5.61%. And then getting into the SPX cash, S&P 500 is down about 0.74%. So to focus on that a little bit, one of the reasons I say you should get in the den is that we actually had a little contest going on, all right? And the contest was who could most closely approximate the close of the SPX on Friday. And the top three winners were going to get one of these nice mugs of TFNN.com on them, with a nice cool tiger. It's nice, it's not my mug though, I'm not gonna drink from it. So let's see here, I think, this is tentative right now. We still got another hour before it closes. But I think the closest we have currently is gonna be no more Gough, Rich for Life, and Dilly Dilly 94. So that is not the absolute winners yet. Like I said, we still have another hour, but you guys, you got to get in the den. It is so fun. These guys, I mean, I learned so much from everyone in the den every day. And I'd really recommend you coming in, chatting with everyone, contributing and learning more. So if you want you to go to TFNN.com and sign up, it's only $1 a year. We just do that to kind of keep the rabble out. We're never gonna raise it, so let's see here. All right, let's go through some of the other indices. DIA is down 0.7, everything is kind of within these bounds here, about 0.5 to 0.8. Spies down 1.08, Meta is down 2%, Tesla down 0.26%. Apple down almost a whole percent. Steel Dynamics down 1.5. So what I want to talk about today, kind of just jumping into it. The first thing that really caught my eye, forgive me because I can't remember who posted it into the den, but it's the yield curve. The US 10 year versus the two year government bond spread has essentially inverted. So the way you get that is you take the rate of one of them and subtract it from the other, and that gives you the product, rather the solution of that would be basic points. So obviously, since we're in negative basis points here, the two year is higher yield-wise. What happens with that, if you're not hip to it, is essentially when recessions come around, the short term kind of gets a little bit shaky. People want to kind of flee from the shorter term debt in favor of the longer term debt. The price of the bond is inversely related to the yield. So as the price goes down, the yield increases. So we can see here that about right before the crash in 2008, we had this kind of same pattern. Obviously the crash from COVID, and we're kind of seeing that here. It's interesting to see what the Fed will do because in these times, what they could do is essentially lower interest rates to create liquidity, but currently the Fed's trying to do things that do not result in that. So it'll be interesting to see how we kind of recover out of this. Let's see what else. FedEx, huge kind of, I guess, bomb from them. Raj Subramaniam, warrant of a worldwide recession due to inflation and central bank rate increases. Additionally, China is having a pretty intense quarantine to kind of stamp out COVID. This is causing further supply chain difficulties. Let's see here. So FedEx decided to pre-announce earnings while below estimates and pulled its financial guidance. This resulted in a 20% decrease. Let's see where we're at now, yes. Hover around 21% decrease here. This is on a one day. Let's check it out. One year to date, this is insane. Insaving movements. CEO said global volumes declined as macroeconomic trends significantly worsened. So there is some collateral with this. We have here, let's see. We have Packaging Corp of America, which is down about 9%, 9.8% is down 11 earlier. We have international paper down 10%. This is doing a little better from the 12% it was down earlier. West Rock Company down, let's see here, down 10%. And then Graphic Packaging Holding Company down 5.7%. And that's maintained throughout the day. I read an article kind of regarding this and the opinion of the author was that this was more of a FedEx issue. And they brought up some valid points for that. But I won't get into it now because we're about to go to the break in about two minutes here, but I do want to just do a quick look at some of the, just some of the financials of the companies, comparatively speaking, to see if this is, because if this is a FedEx issue, then I do kind of believe this might be like an oversell by the market, but that might warrant some shaving off of the price of FedEx. But if it is a major sector issue itself, then you know, I mean, UPS should, FedEx could probably increase a little bit more from its down, because UPS is only down, let's see here, only down 4.7%. From kind of what I'm seeing, I do think this is gonna be much more of a global issue. Obviously, both of these companies will have to kind of readjust based on kind of the new global outlook, but does FedEx need to be down 21%? Probably not. I think this is like a big shock. I think releasing the announcement before earnings was massive and then rescinding financial guidance was huge too. The CEO of companies need to be like the cheerleaders of it. So this is a pretty grim outlook. I mean, in a way, this is also positive. I mean, if the CEO and the board of FedEx really does see this as being kind of a global issue that's gonna impact on the long term, it's really awesome to get that bad news out of the way immediately. At least in my opinion, you can get this massive retraction, this massive sell off, and then things can build back to a proper level. When we get back, we have a best for calling in, excuse me. We'll see what we'll talk about there. I wanna talk on the mortgage rates and everything, and we'll see what he has to say. Again, send me an email at jiggabittfinan.com. You can message me in the den or YouTube, and we will be right back.