 The following is a presentation of TFNN, the Morning Markets Kickoff with your host Tommy O'Brien. Good Friday morning everybody. I'm Tommy O'Brien, company alive from TFNN just after 9 a.m. Eastern time. We got about 24 minutes to go into the start of trading and you have markets. Where are they folks? They're in positive territory. Yet again, we have a revision and pretty much no revision, which the market like to the CPI as we hold on to the numbers that have been trending right in the right direction. Market was a little bit worried. It looked like at least on first glance that we were going to get some revisions that all the optimism that was in this market off those CPI numbers might not have been as rosy as first depicted, not the case. As those numbers come in pretty much in line, the market trades higher. We give back some of those gains. We're still trading at 5,027 in the S&P's, you're up by almost 210%. Right now we get the NASDAQ 100. We jump to a price point of within 28 points of 18,000 on the futures. We're trading up 53 right now. We give back basically that pop as well from 8.30. It's going to be interesting to see where we go today. You're up by 50 points, about 3.10%, 17,921 right now. We have yields up a bit from yesterday. We're going to do that in a moment though. You get the Dow giving back the gains as well, 38,979 as I mentioned. Just like that. 120, 130 points in the Dow. We're back to being up by 30 points, less than one-tenth percent in the Russell. As usual, particularly volatile, the Russell right now up by half a percent, 9 points, 1996. Bitcoin, it's on a tear, man. Look at this run. From Wednesday at $43,000, we just almost hit $48,000. Bitcoin up $2,115.47,865 this morning. Jump over to the crude contract, $76.59 for the price of crude, quite the acceleration yesterday from 73 up to 76, gold. Little volatility this morning as well. Gold negative by $6 almost at 2042. We jump over to the notes and bonds, and what have we been seeing? We've been seeing lower price and higher yield. We were just at 4.17, 4.17 on the 10-year. You got a little bit of a spike there to above 111, and just like that, you give it up to 110.23. We jump from yields to currencies. Here's your spike in the dollar. We're backing off a bit, $10405 in the dollar index down about 10 pennies, $10405. As I mentioned, you jump over to that gold contract I was talking about. You see gold trading at 2042. We jump over to the VIX this morning. Volatility index, $1274 yesterday, just off those lows at $1287. Not much to get in the way of this market. That was the conversation I was having with Kevin Hanks yesterday to a certain degree. We do get some economic data yesterday on the inflation front. Earnings continue, but in terms of the plethora of earnings, all the biggest stocks out there last week, in terms of the economic data we got, in terms of a Fed meeting, all of that kind of encompassed, not as much to get in the way, and now we've got past even one of those small hurdles. There's your headline this morning, US CPI revisions offer relief with little change of recent pace. All we got to do is keep up the pace that this market's been on, and that will take care of itself. Highly anticipated after large revisions last year, wiped out a lot of progress we had been making. Fed, looking for evidence, inflation is sustainably retreating now. Keep in mind, this is the CPI. The Fed's preferred inflation gauge is the PCE, but yeah, nonetheless, no surprises in the annual CPI revision, previously reported versus after the revision. OK, and you can see that we have come down, and those numbers are right in line with where the revisions are. So basically no revision. An uneventful revision will come as relief for Federal Reserve officials who are seeking more evidence to price pressures are sustainably receding before they begin cutting interest rates, inflation moderated swiftly in the second half of the year. And yeah, that's what they were worried about, that the revisions were somehow going to take that away. But nonetheless, that's not the case. Now, the Fed's preferred inflation gauge is the PCE, OK, personal consumption expenditure. And the way I like to remember the differential, the difference between these two, OK, and it makes sense why the Fed would prefer the PCE more or so is because CPI, OK, is your consumer prices. And one great example of that is the weighting of health care and the weighting of something like housing. So in CPI, the housing is something like 40%. And I forget where it is on the core versus the headline, OK, but it's a substantial portion of the consumer price index is housing. And that's because people spend almost one third of their pay on housing. OK, so you're going to get a massive weighting in there. But what the PCE does is it takes into account things that you consume, OK, that you're not necessarily paying for as a consumer. One of the best examples of that is health care, OK. Many people receive health care as part of an employee compensation plan that they are not directly consuming, paying for themselves. That plays in health care, a much bigger component of the PCE, the personal consumption expenditure, because you're consuming that health care, OK, and that stuff matters because it all feeds into inflation, the economy, right? If health care costs are going up, for example, what's that going to do? Well, that's going to drive up cost for your employer. It's going to drive up costs for them. It's going to be built into that economy and the prices that are in there, even though that's not actually reflected as much on the CPI. Anyway, for the difference, it does make more sense, I think, that they go for the PCE because everything you're consuming matters whether you're the person actually paying for that or not. It's pretty cool, either way. We've learned a lot as we get into this inflation data today. OK, let's jump around to see what we have going on in these markets and some of the equities. NASDAQ catching a bit up 64 right now, even with yields up a bit from where we were yesterday. We jump over to the biggest equity in the world out there, Microsoft shares continuing to climb. We're going to see an all-time high of 4.1675 from Microsoft on the open. You jump over to Apple shares. Is that an all-time high? Let me make sure. Seems like it's going to be with the NASDAQ approaching 18,000. Yeah, 18,000. Yeah, that's going to be an all-time high for sure. Microsoft, going to open with a 4.16 handle for the first time ever. You jump over to Apple shares this morning. Apple, basically flat, 188.78 for Apple. Metashares, backing off from their highs just a bit, but you're positive by another almost $4 this morning. That's going to be almost an 8.10% pop on the open to 474 from Metashares. You jump over to Tesla. It's my new catchphrase when I pull up Tesla. Be careful with Tesla, folks. OK, you want a volatile stock? Well, yeah, you might be able to make 50% in the next two or three months. Tesla's that equity. You want a volatile stock where you might be able to lose 50% to 75% of your money over the next two to three months? Tesla is that equity. That's what I'm talking about when I say be careful. OK, the volatility in this equity right now is substantial when there are some tails out there for risks that are laying out there. We got Tesla trading at 190. Remember, folks, you have markets at all-time highs. Tesla at all-time highs was at 414 twice, three times almost. OK, he started selling Twitter when it was at 385. You're still cut in half. They got some problems going on at Tesla, man. To put it lightly, layoffs are going to be coming, but nonetheless. We jump over to Google shares this morning. Back to a short-term timeframe. It's trending higher, man. Pretty remarkable this market. Google, 148.22. We jump over to Nvidia shares. Nvidia, just comfortable at above 700 this morning, 707 for Nvidia shares. All right, folks, stay tuned. We got a lot to talk about. We got yields up this morning. We'll be back in three minutes. If you're looking for potential trading setups in the stock market, then Rocket Equities & Options Report is a newsletter you should try. Tommy O'Brien delivers options and equity trades when the markets present them using a combination of fundamentals and technicals. Sign up for Rocket Equities & Options Report today with a 30-day money-back guarantee so you have nothing to risk. For all the details and to start your subscription today, visit the front page of TFNN.com. TFNN, educating investors. Everything in the universe is governed by the Fibonacci sequence. This mathematical principle is responsible for everything from the most aesthetically pleasing artwork to patterns in the stock market. To stay on top of stock patterns you can take advantage of, sign up for the Fibonacci 24-7 newsletter at TFNN.com. 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 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 tigers 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. Steve Rhodes started his trading career as a student almost 20 years ago and the student has now become the master. Steve won the prestigious Timer of the Year award in 2018 and barely missed that mark again in 2019, finishing at number two for the year, an amazing accomplishment. Steve Rhodes is committed to sharing his techniques and knowledge with anyone who wants to learn and he shares his vast amount of trading knowledge every day in his Mastering Probability Newsletter. Steve's award-winning newsletter, Mastering Probability, is delivered every trading day with updates throughout the afternoon. Sign up for Steve's Market Newsletter, Mastering Probability and you'll receive access to seven of Steve's educational webinars absolutely free. At TFNN, all our newsletters come with a 30-day money-back guarantee so you have absolutely nothing to worry about. Visit TFNN.com and try Mastering Probability 30 days risk-free today. TFNN, educating investors. Hi folks, we got markets S&Ps up by 11 right now, trading at 5,028. We are just above where we came into that CPI revision or lack of a revision as markets were already in the positive barely, which is above that level, but you do pull back a bit from that spike high of 5,043. Taking a little bit of a longer-term picture real quick, okay? You back things up on a weekly on these indices, you zoom in and I've been talking about this and boy, we're right there, man. This has been a one-way trip from October. We got one red bar on a weekly basis. It's we're approaching four months now, right? Yeah, we're approaching four months, man. It was three months. Now we're approaching four months of one red bar. That's not how markets go forever. Four straight months of one red bar, folks, just by pure probability statistics and mean revision type variants runs that you think about. At some point, we're gonna see a little bit of a pullback, man. We just traded up basically 25% folks, even more than that, right? Yeah, pretty close from where you were in October for the entire S&P this is we're talking about and it's been a one-way trip wait till we get to the NASAC 100. But the A to B, C to D, you're looking at about a hundred points higher. We just traded a 5,043. We were talking about it, put it on your charts, man. What happens at 5,122 in that area or so, folks, okay? That would be a run of 1,000 points off your C point, okay? And the reason why you got 1,000 point run is because you had 1,000 point run off of the lows of October. Now I chose to take kind of the area that this thing chopped around at lows for the bars of the candle. Some people like the tails, some people like the bars. I just find an area of kind of the visual pivot point, maybe a little bit of linear regression, tying together those lows, just kind of the general area of where that market pivoted. And in my opinion, that was about 3,600. We got to run to 3,500 if I recall correctly. Think that might have even been pre-market thinking back? Right, was that a pre-market? Was it an intermarket? It was a short one. I think it was even just one day, right? My chart doesn't bring it back. I can put it on a daily going back nonetheless, okay? We are right within that price range. 1,000 point run, 3,600 to 4,600. Then what do you do? You back off to the 50% and you take off for another 1,000 point run, okay? So even off of the market lows folks, 1,000 point run gave us a pullback of 50% of that run, which would be a 500 point pullback. So be careful once we get, you know, we got a hundred points left, maybe if that completes, you jump over to the NASDAQ 100, they're all gonna line up pretty similar. And the big reason why is they're driven by pretty much just a few equities. And the NASDAQ 100, you got about 1,400 points left. Well, what's that? 1,400 points on an 1,800, 1,800 point index, you're talking about 8%, gets you to an all-time, not an all-time, gets you to the completion. Now this one is a 5,000 point A to B leg. You pull back to a 3A2, remember S&Ps pull back 50%, okay? And you are right near completing. You've made a 4,000 point run almost right now. You got about a little bit longer left to go, but about a 5,000 point A to B leg, you're just above, and that's where the 19-4 comes from, because you're low there, it's about 14-1 maybe, so you're gonna be in that range of 14, excuse me, 19,000 to 19-4 basically. But you start hitting 19,000, pay attention, because that's about a 5,000 point run that's the same thing you happened at the beginning of the year. And the way you jumped above the B point too, you gotta remember that one, right? Look at how this comes up to that B point, and then boom, you pop on December 11th, you pull back, and then you just jet away from that area on January 8th, and we had similar action. Going on in this, look at you gap above the B point, you pull back a bit, and we accelerate higher, that's what you wanna see out of those B points. Now, where does that action come from? Not Apple, excuse me, that's the only one yet, that's a little bit of a different anomaly, right? Because look, this was our A to B run in the markets, Apple's not even at the B point right now. Talk about a laggard, didn't think that would happen. If people were telling you that Apple would not be above where it was trading at last July, and the market would be crushing all-time highs, I think people would say, how is that happening, right? Well, it's happening, because we got a few other players, Microsoft notably one of them, crushing higher. Microsoft, that A to B, C to D, puts it about 457, okay, we're trading at 414. So you see, maybe a few of these equities got a little bit longer to go, that's gonna drive the indices a little bit higher as well to complete those A to B, C to Ds. Similar action around the B point though, right? You got your B point up here at 364, okay? Now, again, it's an art, not a science folks, okay? And you could very reasonably make the case that maybe you accelerated up to about 350, right? Maybe you take off that tail. If that's the case, you're looking at an A point that's gonna line yet up at about 220, that's gonna bring you about 350, what's that, 130 points. Your C point is about 310, and that puts you at 440. So 440, 450, 460, you start getting into that area. They're reachable areas, which is remarkable when you think about the context of where we were, man. If I told you in September that Microsoft's gonna complete an A to B, C to D leg with a hundred and, what did I just say? Yeah, 130 point A to B run. So you're gonna trade up to 440 from where you're trading at a 310. Remarkable action on that, and it goes deeper than that. I think Google's one of them, yeah. Google's one of them. Not quite there. Google's gotta run to about 170. Nvidia's gotta be at like 900, I think, right? 400 A to B leg, no, it's 800. Not as bad as you think. Look at you go from 100 to 500. You don't even make a 3A to retracement. And now this thing is a hundred points away. And look at the way you break away from the B point again on a weekly basis, okay? Nothing's for sure, man, but the way that these things jump out and the way that you have broken away from the recent highs, accelerated past that B point, that B point was 500 folks and we were there a month ago in Nvidia. We're at 700, remarkable. Now, that's the perfect segue to the next tour we're gonna be talking about, which is about open AI, Sam Altman, chips, and $7 trillion, how about that, right? $7 trillion. Now they just call it trillions, but that's the number they got up here, man. I'm gonna post this one in the Tiger's Den folks and let's see, I don't know how this, yeah. You know, I gotta look at doing this. Gifted articles, right? Gift unlocked article. And I think that's, I think, you know, as a subscriber, I think and some friends do this with the times and I'm subscribed to, you know, I have Bloomberg, I have the Journal, and I have the New York Times right now. And those are the ones that I really enjoy. Bloomberg, I enjoy the most. Journal's got some great reporting as well. New York Times, great reporting as well. Globally versus business, but when it comes to business, man, Bloomberg is tops, in my opinion. Journal probably a close second if not right up there at the top as well. And I talked about this also before. Go out and hunt those deals, man. You wanna make money as a trader? The Journal, I just talked about it. $38 a month is what they charge you for the digital. Something like 10 bucks a week is how they try and market it to you, right? But they sign you up for $1 a week and then it transfers to $9.95 a week or something like that. When your year is up, folks, just cancel your month for $38, cancel your membership for $38 a month, give it a few days, sign back up and they'll sign you right back up for $4 a month, okay? You're paying $48 for a year of the Journal. That's one of the best deals out there for information. And yeah, why not? No matter how much money you got, man, there's no reason to be paying $500 for that subscription when they'll give it to you for $48 over and over. And as an aside, you know what? We're gonna hang this, we're gonna come back for the open and we're gonna talk the market. But do that in more things, folks. I subscribe to Sirius XM Radio from my car, from leases, from all that stuff. If you're paying full price for that product, call them up, they will bring you down immediately to like 10, 12 bucks a month versus like 38. There are many products out there, so be aware of that stuff. There's your public service announcement for the day. We're coming back, we're talking chips, we're talking market. Stay tuned, folks. In charge of your financial future, TFNN is your gateway to the world of trading and investing. Whether you're starting out or scaling up, TFNN empowers traders and investors of all skill levels with top-notch investing systems, strategies, and techniques. It's time to protect and grow your money with insight you can trust. Join us live Monday through Friday during market hours for exclusive content that moves with the markets. At TFNN, we bring the trading floor to you. Our seasoned hosts are here to answer your calls and questions live on the air. Check out the Tiger's Den for just $1 and follow us on YouTube and become part of our vibrant community. And remember, at TFNN, we're so confident in the value we provide that we offer a 30-day money-back guarantee on all new premium newsletter subscriptions and services. You have absolutely nothing to risk. So why wait? Tune in live to Tiger TV and transform your trading journey because when you know better, you invest better. Join us and experience the difference today. TFNN, educating investors. 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. Are you ready to take your trading to the next level? Introducing Tom O'Brien's award-winning newsletter, Market Insights, your key to successful active trading. Tom O'Brien, renowned for his expertise in the financial markets, has designed Market Insights to be your daily guide to profitable trades. Tom publishes his daily Market Insights newsletter every market day before the market open, along with updates when warranted. Stay ahead of the game with Tom's real-time analysis and trade recommendations delivered straight to your inbox. Whether you're a seasoned trader or just starting out, 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 thousands of traders who have already experienced the power of Tom O'Brien's award-winning newsletter, Market Insights firsthand. 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. Folks, in kind of a case, what have you done for me lately? So much for that spike on pretty encouraging news. When you think about the fact that the risks seem to be, at least from that initial spike, that the revisions, we're going to reveal what they revealed last year for the CPI, that some of the successes that we had made were not quite as material as they once appeared, and the market trades lower, and we dip lower on the open, the S&Ps, give back those gains. We're flat right now, still sitting at a pretty comfortable level of $5,000. NASDAQ 100, we're still in the positive, but you've given up some of those gains as well. We're just positive by 23 right now. That's about a 10th of a percent in the positive. We get the Dow, dip in the negative territory, off by 57, you get the Russell, up by six. We jump over to Disney shares, giving back some of those gains of yesterday, but quite the acceleration yesterday. I think you had Disney up by 12% at one point. Today, you give back some of that negative by a percent. Let's jump around to some of the Magnificent Seven before we jump back to the next slide. To some of the Magnificent Seven before we jump back to that Sam Altman article, because boy, you're talking about some numbers, man. Apple slightly in the positive, Microsoft, up by about half a percent. We jump over to Nvidia right now, up by 1.2%, 704, not bad. Let's check in on Tesla. How's Elon doing this morning? Up by half a percent. Okay, check out this article. All right, let's scroll back to the top here. Nope, that's dividends. We're gonna talk dividends next. I was reading a little bit of that on the break, which is interesting as well. Sam Altman seeks trillions of dollars to reshape business of chips and AI. He's going for it. Why not, man? Open AI chief pursues investors, including the United Arab Emirates for a project possibly requiring up to $7 trillion. Now, how this thing plays out. Nobody really knows, which is what they comment on to a certain degree in this article. He has another great ambition, raising trillions of dollars to reshape the global semiconductor industry. He's in talks with investors, including the UAE government to raise funds for a wildly ambitious tech initiative that would boost the world's chip building capacity, expand its ability to power AI, among other things, and cost several trillion people. The project could require raising as much as five to $7 trillion. Now I'm gonna put that in context in terms of just how many chips are out there right now, how much companies borrow if they wanna borrow five to seven because this is mostly gonna be funded by debt, okay? This is pretty cool. This is the future. He's trying to bring it here now. That's a lot of money, okay? And he's just shooting the moon. But when you think about it, big picture, the only thing that those large language models behind AI systems are constrained by right now is processing power. Imagine, he's the one running it. And I'm sure he envisions that if he could just have more chips and just have more processing power, right? Those AI systems would be learning faster, be capable of more, and the future would come quicker. And it's as simple as that and it makes sense. Now, you could use that same logic to argue why not go for 17 trillion? Then Sam, why just go for seven? Because in theory, the more chips you get, the more you stack them, right? The more processing power those models are gonna have and they're gonna learn more, be faster, be more of an artificial intelligence presence. Now, Altman has complained that there are not enough of these kinds of chips talking about NVIDIA's chips, right? The scarcity of pricey AI chips, graphic processing units, GPUs to power AI's quest for artificial general intelligence, which it defines as systems that are broadly smarter than humans. Now, check this out. They want five to seven trillion, right? Global sales of all chips were 527 billion last year, every single chip, okay? They're expected to rise to about a trillion by 2030. I'm gonna be honest with you and I don't have that much of a fundamental grasp of the chip industry right now. Kinda surprised that they're not even gonna double by 2030, right? That seems like an underestimate in terms of everything going on. But again, nonetheless, you're still gonna grow by 500 billion over the next six years, but it seems like an underestimate, especially when you hear the numbers that Sam's throwing around here, okay? Global sales of semiconductor manufacturing equipment, okay? The costly machinery needed to run the chip factories was only 100 billion last year. Again, he wants five to seven trillion, just putting this in context of how large he's going for, okay? The amounts discussed would be outlandishly large by standards of corporate financing. Total U.S. corporate debt issuance last year, all of it. Every single corporation in the entire company, country, 1.44 trillion, and they're trying to go to market with five to seven. They're trying to go to market, but you get the point, right? When you put it to, so every chip sold 500 billion, every piece of manufacturing equipment, only 100 billion spent, all U.S. corporate debt, this is talking about Apple, Microsoft, Tesla, NVIDIA, every single company out there, okay? 1.44 trillion, still quite a number when you think about debt issuance over the course of the year, but in compared to five to seven trillion. Now, who is he talking to though? It's a real deal, man, in terms of who he's talking to, okay? He's pitching a partnership between open AI, various investors, chip makers, and power providers, power as well, electricity, which together would put up money to build chip foundries that would then be run by existing chip makers, so he's not going full scale that he's gonna take over the industry. He's bringing capital into the industry for the players that are already there, right? These chip factories are gonna be run by existing chip makers. They're just gonna do more of it, right? It's pretty remarkable, man. Much of the effort could be funded by debt. The discussions are in the early stages. I mean, think about it though. If you intertwined somehow all of these companies talking about Microsoft, NVIDIA, Taiwan Semiconductor, right? The debt would probably have some backing to a certain degree when you put it in that context. Now, who are they talking to? Yeah, he has met with the UAE, okay? He has also met with Masayoshi Sun, okay? He's also met with the execs of Taiwan Semiconductor out there. Now, where this really gets difficult, he's talked to Microsoft, of course, too, is the details of where this goes, right? Where are these plants gonna be built? He prefers them in the US. The Biden administration, they're gonna reward billions of dollars to TS, Taiwan Semiconductor, and other chip makers in the coming weeks trying to get those factories. But it's already a problem. Taiwan Semi, for example, pointed to delays talking about a shortage of skilled workers at a high cost at a projected build in Arizona that they were doing, 40 billion versus five to seven trillion, right? And where you go to next is, the US government has been wary of allowing certain foreign governments to control the strategically important supply of microchips, the power, the digital economy. And I imagine that that is like almost burying the lead of this entire article because as somebody with a son who just turned three years old, you wanna make sure that you protect the future. And it seems like the battle for everything is on, for AI. And I'm not sure how. I mean, whoever controls AI, let's see where we are here. Okay, we got a few seconds. I thought we were coming into the break. Whoever controls AI is gonna control the future and control technology when it comes to defense. And so I feel like that race is gonna be on. So I feel like the goals that Altman has in here are gonna be particularly difficult. And they get into Abu Dhabi, getting a large foothold in the AI market. That's not what you want, folks. That's not what I want for my son's future. Abu Dhabi and Saudi Arabia, United Arab Emirates controlling AI. So we'll see how that plays out. That's gonna be a bigger concern. You see it with China happening already with the video chips. And I think it's gonna continue. Stay tuned, folks. We're coming back with talking equity. So we'll be back in three minutes. Are you ready to take charge of your financial future? TFNN is your gateway to the world of trading and investing. Whether you're starting out or scaling up, TFNN empowers traders and investors of all skill levels with top-notch investing systems, strategies, and techniques. It's time to protect and grow your money with insight you can trust. Join us live Monday through Friday during market hours for exclusive content that moves with the markets. At TFNN, we bring the trading floor to you. Our seasoned hosts are here to answer your calls and questions live on the air. Check out the Tiger's Den for just $1 and follow us on YouTube and become part of our vibrant community. And remember, at TFNN, we're so confident in the value we provide that we offer a 30-day money-back guarantee on all new premium newsletter subscriptions and services. You have absolutely nothing to risk. So why wait? Tune in live to Tiger TV and transform your trading journey because when you know better, you invest better. Join us and experience the difference today. TFNN, educating investors. 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? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all. For daily market overviews that give you direction on the key indices, selective stocks and commodities, subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman and your inbox every day. 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. TFNN.com, educating investors. Will the S&P 500 continue to climb for bold trades on U.S. large-cap stocks in either direction, trade SPXL, SPUU or SPXS, directions daily, S&P 500, bull and bear, leveraged ETFs, direction leveraged ETFs? An investor should carefully consider a fund's investment objective, risks, charges, and expenses before investing. A fund's prospectus and summary prospectus contain this and other information about direction shares. To obtain a fund's prospectus and summary prospectus, call 866-476-7523 or visit Direction Investments.com. A fund's prospectus and summary prospectus should be read carefully before investing. An investment in the funds is subject to risk, including the possible loss of principal. The funds are designed to be utilized only by sophisticated investors such as traders and active investors. Distributor, foresight 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. We jump around this market. We got S&Ps holding onto the gains up by about five points right now. You drive down to a low just below 5,020. We're sitting at 5,022. We get the NASDAQ 100, barely in the green, by about 20 points right now, 17,890. And we jump around again to some of those equities here. We're doing Microsoft holding onto about half a percent. You jump over to Apple, basically flat right now. So jumping back to a couple of articles before we get to this one, because that's one is an interesting one. This is an interesting one as well. Talking about dividends. Can dividend investing rise from the dead? The once blockbuster strategy of picking big players has been battered by growth-focused tech titans. Now, if we are coming into a different new version of normal, which I hope we are, as in I don't wanna go back to 0% interest rates, okay, that is not healthy for the economy longer term. It does not make sense that you can get that type of capital at such a low interest rate going forward. And we all see the risks associated with that, okay? When you look at the S&P Comp average dividend yields, okay, dramatically lower, but why is it? Well, you got all these mammoth companies, okay, that are growth companies, the biggest companies in the world, they take their money and plow it into growth instead of plowing it into dividends and you get a capital, right? You get a capital appreciation of the value of those shares versus a dividend yield in the form of a dividend. Now, ever since 2008, 2009 financial crisis, we're talking about 16 years ago now, investors have sneered at getting cash back. US equities with dividend yields above 5% have returned roughly 450%, below the 640% gain of the wider S&P Comp 500. Companies that did not pay dividends have returned 1200%, do you see that? Okay, dividend yields, 450% is what you've got since the crisis. S&P Comp 1500, 640% gain, no dividend, 1200% gain. Now, meta just started their quarterly dividend, 50 cents, okay, this one's a really interesting one as well. And that's what we're talking about here in terms of where you are on the spectrum, low dividend, high dividend, medium dividend, you see, and no dividend. This market has been driven by no dividend equities, not surprising. Again, when you look at the players in that, now, Apple gives a dividend, okay? Hasn't always been the case though, and you get into the sectors that this is in. And where this goes, of course, is that we are in a different time, okay? And we are in a different time that dividends, when you're in an environment of 0% interest rates, okay? Yeah, here's where the part I wanted to get to, okay? Through the 50s, and I'm not saying we're going back to the 50s, man, but at some degree, dividend and total returns were 80% from the 1870s to the 1950s with the rest made up of capital gains. This past decade, it was 30%. The average dividend yield has been stuck below 2% for most of the past 25 years with the historical average of 4.3% and then you look at the performances over that time. Now, I'm going to present this, and it was interesting reading this article early this morning and reading the Sam Altman piece as well. There's a reason why the best companies in the world aren't plowing money into dividends because the biggest growth area in our generation, right now, the person leading that is coming to market for five to $7 trillion. So why are you going to be giving money back in the form of a dividend if the biggest growth opportunity out there has the leader of that company and the face of that industry right now, whether he deserves it or not, after the battle he had with the board, is asking for $5 to $7 trillion. And I laid out total corporate issuance, $1.4 trillion, right? All ship sales for the year, $500 billion. All manufacturing, about $100 billion is what they put into it. Numbers that dwarf, anything going on. So yes, it's changing to a certain degree. I think you saw Zuckerberg display some great executive qualities. I do have a little bit of Facebook and retirement, but no matter what, the way he turned around that company, he's happy with leaner for longer, right? As you go forward, he's giving a dividend. They're still going to plow plenty of money into research and development folks. Don't think that that money is going to get plowed into dividends on those companies. And I think that those companies are going to be the companies that bring us forward into the future as well. Whether that's a good thing or not, for humanity is a tough one because boy, they're going to control everything. And I encourage you, this is what I'm thinking about myself, to stay open to how we as humanity, not to tie it into politics, taxes, but boy, when you got companies that are plowing $7 trillion into artificial intelligence, how is that going to translate down the line in terms of livable wages for the first time in a while as this conversation shifts and you see that type of money? Because once you reach that type of processing power, how does one compete when you have armies of artificial intelligence, bots, humanoids, whatever it is, functioning under a corporate capacity? You might need some universal wages at some degree folks because I don't know how things are going to function to a certain degree when Bezos has his army and Tesla has their army of humanoid bots that are smarter than any human out there. $5 to $7 trillion, it's coming. It's going to be quite a wild future to put it lightly. All right, what else we got? Yeah, my dad was talking about this article on his program last night, I thought it was interesting. Yeah, this one was out yesterday, didn't get to talk about it yesterday. David Einhorn, green light capital. This guy plays from poker as well. He's played some high level poker in his time out in the World Series occasionally. Einhorn, usually in some big, either massive tournaments or charity tournaments as well. Some of those big massive tournaments also opt as charity when you're playing with that type of money out there. Fundamentally broken is what, excuse me, something stuck. Swallowed the wrong way. Green light capital. So he says the markets are fundamentally broken by passive quant investing. And what he talks in here, now this is on a masters of business podcast, which is with Barry Ritholes. And so that's Bloomberg. So they're talking up their own podcast here. Passive investors have no opinion about value. They're going to assume everybody else has done the work. Okay. And this is talking about that we are all passive investors right now. And we assume somebody else has done the work. Investors increasingly look beyond active money managers instead opting for passive strategies, lower fees. Yeah, coming into COVID, passive vehicles such as index funds, more than half of publicly traded assets in US equity funds. Quants based their trades on short-term price moves rather than the company's actual worth. We know they're everywhere in this algorithmic trading environment, right? He is a value trader. He was. Few people are paying attention to individual stocks posing a problem for funds looking to invest in undervalued companies. Value strategies pay off when others notice a company's potential driving up its stock. And that's what I thought was cool. I heard my dad talking about it, right? The strategy doesn't work unless other people notice the same thing you notice. Right? Yeah. It was up 37% in 2022, 22% last year. He's still got some decent concerns, man. He's not happy with the SEC. And I think a lot of us could empathize with that. We can't count on other long-only investors to buy our things after us. We're gonna have to get paid by the company. That's not the business you wanna be in. Isn't that remarkable, though? That that's where it goes? And yeah, it does make sense to a certain degree. And then the SEC, he gets into as well. Which I think we can all share those. This boy. It's a wild, wild West. It seems like on Wall Street sometimes in terms of the SEC constantly playing catch up. S&Ps this morning. It's Friday trading. We're up by four. And we'll come back to finish up the show, folks. Don't go away. 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. 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? Like any endeavor in life, before you decide it's impossible, get some advice from the experts. You might find that it's not so impossible after all for daily market overviews that give you direction on the key indices, selective stocks, and commodities. Subscribe to the opening call newsletter at TFNN.com. The opening call newsletter is written by Basil Chapman, creator of the trading methodology known as the Chapman Wave. The Chapman Wave up-down sequence gives you an edge in identifying price turns, finding the peaks and valleys in stock prices. Get the opening call newsletter by Basil Chapman in your inbox every day. 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. TFNN.com, educating investors. The reality is that navigating financial markets can be risky. Markets can be chaotic and difficult to understand. Having the latest market advice can help you turn this chaos into a key for creating winning trades. At TFNN, we understand that it can be hard to find reliable market news. That's why each of our market experts offers their very own market newsletter. A must-have tool for every trader out there striving to find an edge in today's markets, TFNN newsletters cover every aspect of the markets so you can analyze the market before you trade. Try any of our great newsletters risk-free with our 30-day money-back guarantee. Just visit the newsletters tab on the front page of TFNN.com. 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. Got a Pepsi out up here, Pepsi. They had almost $7 right now. Quite the move for them. It's talking to our man Kevin Hinks yesterday and he was in the pit. He was a specialist for PepsiCo for a while. And you talk about experience and this equity is not often move, man. And look at the rip-roaring movement we got going on, man. They come out with the numbers this morning, you dip lower, you catch a little bit of a bid. We come into the opening bell and the market gives it all back. We're down $7 just from where we opened, man. And the reason why? Net sales, revenue, dropping, first quarter since 2020 that the company's quarterly revenue has declined compared with a year ago period. We still have inflation going, okay? You can make the case that it's a two to 3%. I would say it's probably higher, but there is inflation in this economy for sure. So to dip lower on your quarterly revenue when you have at least some period, right? Currency exchange rates, drag net sales down by 1.5, still not to the 2% number. Organic revenue, which excludes acquisitions and divestitures rising helped by higher prices, okay? But those same raised prices have hurt demand for the company's food and drinks. The volume, which strips out pricing, slid again this quarter. So the only reason they're doing it is pricing and even with pricing, they still can't keep up. And so they're paying the price this morning, man. They got high borrowing costs, lower personal savings are impacting budgets, particularly in North America. Boy, if we can't buy, now Pepsi owns everything. I was gonna say soda, right? They're really Frito-Lay as they got so much going on in there as well. One thing he says, consumers are shifting their behavior from eating and drinking at home to picking up more of their snacks and Gatorade from convenience stores. Yeah, nonetheless, that's quite a pullback for Pepsi. You don't get those types of moves. So pay attention to PepsiCo as you are right back to kind of the lower range that you've been in. And look at this equity, man. Yeah, not encouraging. You're trading at 167 right now. 160 is probably in the writing for Pepsi shares as that was the area you chopped around 2022. It's the lows of last year as well. That was also an area of resistance back in 2021. All right, folks, thanks so much for tuning in. Stay tuned. We got our man, Basil Chapman. He's coming up next with the Tiger Technicians Hour. He's in that den growling and prowling. Have a great weekend. Have a safe weekend, folks. Always say it, no drunk driving. Have a fantastic weekend. We look forward to seeing you back here in Monday morning. Stay tuned for Basil coming up now. Thanks so much, folks. Have a great one.