 A presentation of T.M. The Tom O'Brien Show is produced every business day. Tom takes your phone calls toll-free at 1-877-927-6648 internationally at 727-873-7618. This is awesome. Come on, Talay Vu. We're going over to Paris. What's happening? Hey, Tom. It's Adam from Paris. How are you, sir? I'm doing great, Adam, yourself. That's good. Long time no talk. I appreciate everything you've done for me and my family over the years, so. We appreciate you. Grab on problem with us. Yes, sir. I've done gold reports and all the softwares and all your books and read it generational. Thank you. You have. Thank you so much. Appreciate it. Yes, sir. Now, Tom O'Brien. Welcome to the show, folks. This is Jacob Schup filling in for Tom O'Brien. I will be with you for the rest of the week. Send me an email at jacobetffnn.com. The number is 877-927-6648. If you want to talk to me, that's all right with me. Take a look at the markets right now. We're kind of down a little bit. He has many down about 1.29%. Russell down about 2%. NQ down 1.39%. YM down about 0.89%. The gold contract, we're trading at 1960, really 1962. So some pretty fantastic movement for it today. It's a pretty substantial volume as well. So that's good for all the gold holders out there. I was reading an article that Costco, I guess they sell little gold bars. And they've been selling out of them pretty quickly. If you have, I guess, the more expensive Costco card, you get 2% back on purchases. So basically getting this gold with kind of a 2% discount, which is pretty neat. Silver trading at 22.96. Taking a look, not the same amount of, not the exact same amount of motion as gold has, but on some pretty significant volume on the upside anyway. Looking at a $25 price target for gold. Looking at Copper 358 contract. And of course, crude oil futures trading at 87.29. And this has really been what we've been seeing for the past month essentially, right? In between this 81 to 90 area. And everything is still moving along with the conflicts around the world. There is some talk that America might lift some of the embargoes on Venezuelan oil since they are promising to have a democratic election the next cycle. If that's true, that will alleviate some of the pressure in the gold market, excuse me, in the oil market. And that'll just be interesting from a geopolitical stance as well. Bonds trading down a little bit today. Tesla down about 5%. We can look a little bit more into that as we're going. I still, the people who love Tesla are so dedicated to it that I do think we'll see this as a buying opportunity. They are very well influenced online by all the other holders of Tesla and probably some more institutional investors online as well. Still dynamics for trading down pretty hard today at where 102.99 reaching that $100 target. We've been trading in, like I've said, 110, this range for quite a while, as you can see. Cracked down out of it with volume, came back up to test that high again at the 110 and then we're on the way back down to 100. So we'll take a look to see how that goes in the coming days. The dollar is staying pretty consistent here and consolidating about this 106.59 area. Obviously we have some traversal a little bit down but we're not even getting close to cracking 105 and really 104. We want it to move down so the rest of the market can do a bit better but again regarding gold and this kind of traditional kind of inverse relation these two have, gold's still doing pretty well today. QQQ's trading 363.55, Google 139.35 meta at 318.22, Disney back down at 84.83 and Apple at 176.19. We'll take a look, we were talking a little bit yesterday about Nvidia. Their stock was losing some ground because the US had essentially closed a loophole in selling some of their chips to China. What had happened is they essentially I guess rebranded the chips, were able to sell them to China. This was a loophole that they found last November when this kind of like quote unquote chip war started. That's now closing and that's a pretty large driver of revenue for Nvidia. The reason why the US government's doing that is because it might indirectly benefit the Chinese military. ASML is responsible for the lithography devices that make chips and they basically kind of like hold the key to all of this. Now it did beat expectations but their forecast was not so great. So they earned their equivalent of about 523 a share on sales of $7.26 billion in the September quarter. ASML reports financial results obviously in euros. The analysts polled ASML earnings about 492 a share on sales of 7.19 billion and the years prior obviously has gone up. It was 420 a share on sales, 5.66 billion. So essentially their CEO kind of came out and said that they might have flat sales next year. This is a quote from him as Peter Venink. The semiconductor industry is currently working through the bottom of the chip cycle and our customers expect the inflection point to be visible by the end of this year. Customers continue to be uncertain about the shape of the demand recovery in the industry where for excuse me, we therefore expect 2024 to be a transition year. So we can take a look here losing about 5%. He added based on our current perspective, we take a more conservative view and expect a revenue number similar to 2023. But we also look at 2024 as an important year to prepare for the significant growth that we expect for 2025. So on the short term, you're seeing basically, like I said, a bit of a flattening but ASML really does just dominate in the lithography market which will be necessary for chip development going forward. Second here. We'll take a look too. I want to talk a little bit about Target because they've done, they've lost a lot this year and the question is kind of why, right? So we look at, Walmart has gone up quite a bit. I think that basically the consumer is getting tightened a little bit. Target also centers itself around a lot of discretionary spending and what that means is when you go in, there's a lot of excess stuff to buy. Target is really good when the middle class or whatever can be considered the middle class is doing well too. When it's not obviously these cheaper options such as Walmart, and Walmart's been really good about kind of consolidating its product lines and they've just been able to hold out a lot better. Of course, a lot of people are trying to say that Target going down had to do with some politics earlier on in the year. Now, probably that had maybe a small amount to do on it but this is kind of a larger issue overall with Target and the type of demographic that they seek to kind of cater to are getting tightened a little bit. So on the long term, I still think Target is gonna kind of be down here. I mean, we're coming up from like, no, this is a year to date. If we go to the yearly, let's see here. So I mean, we're trading at least in February 181 and we're down at 110 right now that's a pretty significant downward movement. Folks, stay tuned, we'll be right 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. 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Take a look at the video's chart right here. So we're gonna talk a little bit about what their plan is now after some of the restrictions have tightened. We're already trading with China. These guys are trading at 419 from the high of 507-66. You had to kind of sell off right here and then nice little creep back up. And I personally think it might settle around some of this area, maybe a little bit less as well. Essentially what's happening, well first, let's start off with Foxconn, right? So Foxconn is basically the chip supplier for Apple, okay? Foxconn's CEO came out and said that they're not really gonna be able to compete on the cutting edge chips, cutting edge chips. At this point, it would acquire way too much investment and there's no guarantee that they will be able to really compete at that kind of level. So what they're gonna do is kind of diversify out and create some more specialty chips, which I think is just kind of an interesting business pivot and I think it's very prudent as well. So the reason why I bring up NVIDIA with this as well, NVIDIA is now trying to expand with Foxconn in order to create what they're calling AI factories, okay? And so the whole idea behind this is really going to be to see if they can beat out Tesla on self-driving, okay? So it's teaming up with Foxconn, it's also known as Hanhai Precision Industry, that's in Taiwan. The expanded partnership is a sign of new markets where NVIDIA's chips can be used. This is obviously very positive. Foxconn, obviously known for manufacturing iPhones, but it's gonna broaden its business and then it's really focusing on the production of electrical vehicles with autonomous driving capabilities. The CEO, Jensen Huang, had previously said the automotive industry is about a $300 billion opportunity for the chip maker, which would be fantastic, obviously. Again, they're competing with Tesla and now I still get nervous because I think Tesla has so much more data compared to everyone else and I've said this before multiple times on the show that the way Tesla can really benefit from this, excuse me, it took out my earphone here, that Tesla can really benefit from this is kind of selling that data to where they don't even have to compete with other car companies. I think that might be something we see in the future and that would be the equivalent of striking oil or something like that. Anyways, I don't think that is in the cards yet for Tesla. Obviously NVIDIA was down about 3% and it closed about 4.7% yesterday. And so it'll be interesting to see how this expands out and to see if NVIDIA can really get a good grip hold in this. We're talking about the autonomous driving vehicles and this is some other woes kind of with GM. And so they have this plan, let's look here, this is what's called cruise, okay? And cruise is the concept again of these kind of smaller self-driving cars. So let's take a look at this here, right? It hit two people. And so they're trying to take basically a look into basically what happened. Cruise is a subsidiary of General Motors so that that might have impact on them going forward. This news article reads that the federal auto safety regulators are investigating cruise following pedestrian injuries that involve the company's driverless vehicles. The investigation is to determine whether cruise automated driving systems exercise appropriate caution around pedestrians in the roadway. The National Highway Traffic Safety Administration opened up the probe into cruise. On Monday, the probe was prompted by two reports involving pedestrian injuries and cruise vehicles in recent months. The agency also cited two other incidents and identified through videos posted to public websites according to the filing. One incident on October 2nd involved a situation where a pedestrian was thrown by another vehicle and in the path of a driverless cruise vehicle. That incident, of course, I guess apparently matched a hit and run. And there was another one as well where essentially someone walked out in front of the car while the car had the right of way, hit them at a very slow pace, that person was hospitalized. Still, I think if we probably, this is what's gonna be so interesting going forward in how legislators try to kind of deal with this situation, right? So the idea essentially is, and really the numbers prove it, is that these autonomous vehicles are far more effective at avoiding crashes and hitting people than just normal people are. And so it gets to the point is like when you start adding these in, who takes liability for certain things? How has that dealt with? I'm sure there'll probably be some standardized insurance contract that keeps going on with them. But I've seen videos as well online of a lot of these self-autonomous, or excuse me, self-autonomous, these autonomous cars driving in cities and they actually are very safe. Even when they have the right of way and someone cuts them off or whatever, they're very good at stopping where you can watch some situations where you would see a piloted vehicle essentially actually ended up hitting them. So I do think that this might be a solution for really congested cities going forward. Obviously the idea of not necessarily owning your autonomous car in another company kind of renting it out to you isn't always kind of desirable. But I think we'll see more of these kind of come and it might be safer roads for kind of everyone involved, which I might be kind of interesting. So we'll take a look here. We're talking a little bit on Monday about some of these accounts being frozen in crypto, so some crypto wallets. Bitcoin's doing very well right now compared to the rest of the market. Obviously they're starting to release some of these kind of crypto ETFs. So that might be something to look into. We were talking about how a lot of these wallets can be linked to terrorist groups and how if any of these kind of coins and the blockchain algorithms want to maintain staying power, they're going to have to start doing this themselves. So taking a look at this is from CoinDesk. This is Israel has frozen about 100 Binance accounts over suspected Hamas links. Authorities have requested information on an additional 200 crypto accounts, most of which are held on Binance. Since Hamas stormed into Israel 10 days ago, triggering a war, okay, that's certain words. Binance confirmed to CoinDesk last week that it was working with Israeli authorities to block terror financing. And this is a thing too, and I say it all the time, but if you're getting into cryptocurrency because you don't like how the international financial institutions work, you don't go through a company like Binance. You don't go through these exchanges because these exchanges are controlled. You know, you don't have anonymity, which everyone thinks you do when you're kind of buying these cryptocurrencies and using them. If they're coming out of Binance or kind of any other exchange, it's very easily trackable. So, and of course, this has been a major issue in Ukraine as well. I think Bitcoin is trading at something like $28,000 right now for a single Bitcoin. I was actually talking with one of my buddies and he does tattoos. He's a tattoo artist. He does this for a living. And he was telling me, he's been tattooing I think for about 11 years now. And he was telling me when he first started out, this guy tried to pay him in like two Bitcoin. It must have been further than that as well when it was cheap. But he was like, nah man, like he's like I don't want to do anything with that. And obviously now if he had held it at the top, he would have had quite a nice bit of change right there. It's kind of funny stories. I think all young people have a story like this. I mean, I remember being like eighth grade and I had a friend who, I think he must have been a sophomore in high school or something like that, but we would play video games with each other. And he was always on this new kind of like tech stuff all the time, right? And he was like, you guys got to buy Bitcoin and I think it was something like $100 for a Bitcoin or something around there. And I asked my dad, I'm like, I had some money saved up and I'm like, can I buy that? And he's like, no, no. And I ended up investing in like a Vanguard ETF smart but not as smart as Bitcoin would have been. Of course, less risky to buy the ETF. Folks say it too and we'll be right back. 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. 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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. Welcome back, folks. I give you a second to pull up this article. I got distracted on the break. I don't know what happened. I was just reading stuff in the den. I wanted to share this with you, but I'm trying to find it now. We'll get there. Ah, okay, here we are. This is just some standard news. We talked a little bit about, you know, general stuff that goes on and like government, international kind of thing. This is gonna apply a little bit, essentially to kind of corporate defaults and the way that the U.S. debt situation kind of looks. And this is kind of a look at it from the IMF, right? The International Monetary Fund, okay? So take a look at some of these key facts here. The U.S.'s $33 trillion debt pile is reflecting a quote unsustainable fiscal policy, the IMF said. The government has already racked about 1.5 trillion deficit in the first 11 months of 2023. And this is a quote from the IMF under, excuse me, under unchanged policies. Debt dynamics in the U.S. are very unfavorable. Now, of course, the U.S. does something called monetizing the debt, which has been very powerful for them. And U.S. debt is used kind of as a, kind of vehicle of exchange nearly for a lot of other countries. So the U.S. debt situation is looking increasingly precarious. This is coming from the International Monetary Fund. The U.S. fiscal situation is most worrying among all the world countries. The IMF's research director, Pierre Alaver, Gorincha said in a press briefing on Tuesday, that's largely due to the rapid pace of government spending, with the U.S. already having racked about 1.5 trillion deficit in the first 11 months of the fiscal year, according to a recent Brookings Institute estimate. An interview with Bloomberg on Wednesday, IMF fiscal affairs directors of the U.S. deficits are elevated and look to be persistent under unchanged policies. Debt dynamics in the U.S. are very unfavorable. The perpetuation of current policies entails an unsustainable fiscal path. But I just, I think everyone has said this for so long, right? And the question is like, what really would be like the breaking point to where the U.S. can't pay that? And obviously they can consistently be funded and everything. And this is the idea of this kind of like mixed market kind of deal that they run in this new kind of monetary theory. But it's interesting seeing it on such a large level from the IMF. And so I thought it was interesting to talk about. I know some of the guys in the den also kind of talk about U.S. debt and that kind of pretends for the future as well. Some news from Microsoft. So I was talking a little bit of how they got blocked. It was probably a few months ago, maybe in June or something. And the UK had blocked them from essentially buying Activision. And Activision develops a lot of video games, they're very well known for call of duty. I think Activision Blizzard makes the world of Warcraft and all these kind of other games. Obviously the big money maker for Activision Blizzard is really gonna be call of duty. They have these micro transactions in them. So you just buy the game for a premium anyways, probably about like 80 bucks I think it is now. I haven't played that game a very long time but it's still very popular. And then you buy items in the game sometimes for pretty insane prices, honestly. So this merge has completed, excuse me, at least they finalized it. It's a $69 billion purchase of Activision Blizzard, which is massive. And again, whenever you, Microsoft isn't in the business of trying to make video games. They don't really care about that. It's just the immense cash flow from a lot of these kind of game companies. I mean, we look at games also like Roblox, right? Which Roblox has almost developed its own economic system, right? I think they call them Robux or something like this. And that's how you buy stuff in the game as well. This is more stuff for your characters, different games within the game as a whole. Roblox can best be kind of viewed, I would suppose, as something like the Metaverse. And you can go in and kind of make different worlds in it and people can interact. And I mean, my little cousin plays it. My friends I have who have daughters or sons about that age, they play this game religiously. And I think the currency Ripple is about to make a deal with Roblox in order to supply an algorithm for their currency in the game. So this is really huge, you know? And I think the, as these kids grow up, I think they're calling them Gen Alpha, right? I don't think they're gonna stop playing these games, kind of like my generation stopped playing them, right? Like I haven't played video games in a long time. I still have some friends who still do it, but it's less and then you get down to Gen X or, excuse me, Gen Z. And a higher percentage of them still plays video games into adulthood. And then I think what we'll see with Gen Alpha, a higher percentage still. And these kind of, you know, interactive and virtual environments persist for so long. And I think that'll become like a greater, I suppose kind of part of the world. And I say, I think Meta and Facebook and Zuckerberg were a little bit ahead of their time with everything that they were doing. I had a friend who works for the Essential Lives Autonomous Organization and his company has a pretty big NFT and some cryptocurrency as well. And he wrote this white paper, essentially about, and this was years ago he had written this to some investors and they were trying to do something very similar to what the Metaverse was trying to do from Facebook. And the idea is what he was likening it to is like, imagine our parents and grandparents went out with their bosses and colleagues to a golfing game. He's like, well, the generations and the future will meet up on some kind of Metaverse concept like Roblox or Minecraft or whatever, right? Obviously it's not gonna be those exact games but the concept's still there. And I think that's what Zuckerberg was trying to get at as well. Meta had also just released, there's a, how do you call them? Podcast with a very famous podcaster. I can't remember his name right now but Zuckerberg and this guy had the entire podcast inside of the Metaverse with these new AI models that Zuckerberg and his team have created and they are, I mean impeccable, right? And they have somehow kind of beat that on Candy Valley that a lot of humans enter, excuse me, that a lot of humans experience when robots or kind of AI try to look too much like humans. They've beaten that. Flex Freedman is the podcaster's name. You guys gotta look that up. I'll try to put it in the den but it's pretty fascinating. Anyways, let's take a step back here. Let's go back to Microsoft. Turning about 330 right now. They've just finalized a $69 billion purchase of Call of Duty. The new deal will stop Microsoft from locking up competition and cloud gaming as the market takes off, preserving competitive prices and services for UK cloud gaming customers, which is a big issue they were having with the UK's competition and markets authority. Under the renegotiated terms, French gaming company Ubisoft, which is another massive company that is pretty infamous for their microtransactions but they just make so much money from it. They will acquire the rights to Activision's cloud gaming content for 15 years, ensuring that it will remain available on non-windows operating systems. So obviously that's pretty big in, the EU has always had, obviously it's through the UK but they've always had decent anti-trust laws going on there. The deal makes Microsoft the largest video game company in the world by revenue behind Sony and Tencent. Tencent, of course, being China's massive video game company. Tencent is so weird because they basically put root kits on your computer for anti-cheat and that gets down to the lowest operating level. Well, it's the lowest operating level. It's called level zero, but it has the most authority in the entire computer system. They basically download anti-virus into that. It's very dangerous but this is on so many computers throughout the world. So anyways, folks, stay tuned, we'll be right back. 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Let's take a look here. What about mortgages? Mortgage demand has fallen to the lowest level since 1995, its interest rates near 8%. That's a pretty intense number. Applications for a mortgage to purchase a home dropped 6% week to week, and were 21% lower than the same week one year ago. Total application volume fell about 6.9%. Compared with the previous week, according to the Mortgage Bankers Association, seasonally adjusted index, the average contract interest rate for 30-year fixed rate mortgages with conforming loan balances, which is 726,200 or less, increased to 7.7%, from 7.67%, and points decreased from 0.71 to 0.75, including the origination fee for loans with a 20% down payment. That is the highest rate since November 2000. The rate was 6.94% during the same week one year ago. Applications for a mortgage to purchase a home dropped 6% week to week, and were 21% lower than the same week one year ago. And applications to refinance a home loan fell 10% for the week, and were 12% lower than a year ago. Both purchase and refinance applications declined, driven by larger drops for conventional applications. Okay, also it's just so expensive to begin with, and I think they're doing, where is this? I gotta find this. It's like a extraordinarily long loan, like a 47-year mortgage. Oh yeah, here we go. Now this is from Canada, okay, but those will come out too. We'll get some weird stuff like this in the US. 47-year mortgages are out. Even longer ones can be coming. Again, this is coming out of Canada, so keep this in mind. But it's just showing how everything's going kind of in North America. Banking regulators said about 250 billion worth of home loans, or either currently or soon to be negatively amortized. Excuse me, amortized. Canada's top banking regulator will soon implement new guidelines for new mortgage. Okay, anyways, you don't need to go through it because it's the Canadians. But the point is, is that things are getting expensive and now, obviously, stuff is a lot more expensive in Canada, homes being one of those things. But this is what I've been just so nervous of going forward. I think that the cost to build is higher. I think the cost to manufacture is gonna be higher going forward, right? We spoke about a little while ago when the Toyota CEO said that he could see new cars being a baseline of about $50,000. And we're essentially just gonna kind of be in these long-term, I mean, decades-long loans. Obviously, the mortgages are already there, but I'm even talking car loans and other things as well. To where you're effectively not even really gonna ever pay off this car, you're gonna be paying so much, and in the home as well, you're paying so much in interest that you're not paying towards the principal at all. And I think it just gets pretty sketchy, right? The White House is doing something about this. They've put money into, let's see if I can find it here, okay. Yeah, so the White House has announced new actions in home ownership, and this is from WhiteHouse.gov. Essentially talking about how it's very difficult right now for Americans to get home, especially younger Americans. Of course, it's a massive foundation for moving forward in life, primary source of wealth. So the Treasury Department released data demonstrating how the current president's investing in America agenda is supporting existing homeowners and helping more Americans access affordable home ownership through over 12 billion in support. The American Rescue Plan's Homeowner Assistance Fund has assisted nearly 400,000 homeowners at risk. Okay, of course, a lot of this is also just kind of an advertisement for the current administration, but the idea is that there is a lot of, there is some effort at least on the part of our government to kind of ameliorate some of these issues. I don't see a time in the future where a lot of people younger than me are ever gonna get a house. I don't think one people make enough money, especially the younger people, like I'm talking like early 20s and stuff like that. I don't think credit is on a lot of people's minds, which is a shame, but that's just the case. And I just, I don't, I think it's gonna be, if nothing's done is what I'm saying, I think it'll be a lot harder for people to compete, one, with larger private equity groups who are buying some of these homes, and two, just kind of people moving out from out of the state or out of the country coming in here and buying those. I think these are all things that contribute to a very kind of brutal situation for young people in buying a home. And it is important, right? I mean, it isn't like, when I think about it, right, as a young guy, I feel like that's a big step for me, going forward, and then all the other things follow, like family and stuff like that. And that's what we were sold when we were younger. We're always told, like, you know, you go to college, you do these things, you get a good degree, and you're good to go, but it's just, it's not as clean cut as that was kind of made out to be. And that is particularly hard for a lot of younger people as well. However, the Mortgage Banker Association did say that they do expect an increase. I'm trying to pull that up for you right now. Expect an increase in mortgage originations next year. I wanna get those exact numbers for you because I think it's interesting. Give me a moment. Here we go. Yeah, so they're suggesting that mortgage originations will surge about 20%, says 19% here in 2024. And they say as a recession will force down rates, okay, like, but the recession thing is, what's getting at me too, we'll read this and I won't put so much of my input in on it. But, you know, I think we're already in October of this year, you had so many analysts last year saying, oh, we're gonna 100% be in a recession in October of 2023. We're not necessarily here yet. Now, I think some people might be feeling something very akin to that, and maybe not the entire population is feeling the effects of a recession. But, you know, consumer spending is still kind of strong, employment still is pretty strong. So anyways, we'll take a look at this a little more. Mortgage makers association is saying that the housing demand will rebound from this year's strained level after mild recession pulls down today's high mortgage rates. Mortgage originations or the process leading to a home buyer loan are estimated to reach 5.2 million by loan count next year in the MBA's housing market forecast release on Sunday. Obviously, there's a 90% jump from the 4.4 million loans predicted for the entirety of 2023. By another measure, 2024 origination volume is predicted to surge, again, 19%, to 1.94 trillion against a 1.64 trillion expected for this year. I don't know what they're seeing the mortgage rates going down to. I still think we're in an environment where the Fed may still raise rates. I think we're seeing that kind of sentiment also reflected in, you know, like the TLT and some of the other kind of indexes for bonds. You know, obviously they're selling off pretty hard. I don't know. I don't know where they're kind of getting that from. And, you know, if a recession doesn't come around and rates stay high for a while, I mean, yeah, they might lower the mortgage by some percentage just to get, you know, a few more people in there, but I don't think it'll be substantial. And, you know, 8%, I mean, a 7% mortgage is still high. 6%, I feel like it's still kind of high, right? So, I don't know. Anyways, this says lower rates obviously should help boost home buyer demand and increase the inventory of existing homes because people sell them out. They're by supporting purchase origination volume in 2024. Not only would that incentivize home buyers to return, but it would also help add housing supplies. Current owners will be more willing to sell their house, of course, basic economics. So anyways, that's kind of my little kind of reading on what's going on with the mortgage rates. And obviously that impacts a lot of younger folks as well. So I think it's important to talk about. Folks, stay tuned. We'll be right back for a short segment and then we'll send you off. 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. 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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. Welcome back folks, this is Jacob Schup, filming for Tom O'Brien with the ESMini down about 1.43%, RTY down about 2.24%, NQs down about 1.52%, YM down 1.03%, and the gold contract is staying steady at 1964, which is fantastic for all the gold people. So, one little story here. We talked a little bit about the student loans in the past, that payments are kind of resuming now. So apparently more than 400,000 student loan borrowers had wrong monthly payments and it was payments higher than they probably should have been, so let's take a look here. And again, the context for all this is more than 28 million federal student loan borrowers returned to repayment this month at the pandemic related relief program, put their monthly bills on pause for nearly four years. Now that the federal loan machinery has been set back into motion, hundreds of thousands of borrowers are discovering that their monthly payments had been miscalculated, often for higher amounts than they actually owed. The mistakes have come to light, as more than 28 million federal student loan people started paying again to miscalculations of affected borrowers being transferred into the Biden administration's new income driven repayment plan, which is SAVE, which bases borrowers monthly payment amount on their income and family size. The Missouri Higher Education Loan Authority used the 2022 poverty guidelines of 2023 to calculate the payments, which caused roughly 1% or 280,000 borrowers to be given modestly higher payment amounts than they should have under the new SAVE program. Pretty interesting. It would be worth taking a look if you haven't already and you're paying student loans. Take a look here. GM, we speak a lot about the electric vehicles and all the different companies who are trying to get into it. GM is down about 2.72% today. They said on Tuesday it's delaying production of all electric vehicle trucks at the Orion Assembly, which is in Detroit, and that will be done until about 2025. GM now plans to begin construction of its next generation EVs in Detroit in, like I said, 2025. So, you know, that's kind of a big halt on some of these big plans that they were having. Folks, thank you so much for tuning in today with me on this Wednesday. I'll be with you again Thursday and then Friday. Yet again, Tom will be back Monday. Remember, always email me when there's questions you just want to say hi, go right ahead. Folks, have a great rest of your evening and I'll see you tomorrow. Tommy's on at 9 a.m. Eastern time tomorrow morning. Take care.