 Welcome folks. This is Jacob Schup filling in for Tom O'Brien. He will be back Tuesday. Everything is going alright. Just having me fill in for this week, so no worries there. Looking at ES Mini trading down about 0.05%. We're kind of flat right now. The Russell down 0.26%. NQ's off about 0.07. Dow futures trading down 0.41%. Gold really had a nice pop-up today. 2,051.90. Up about 1.62%. We'll talk a little bit about gold. Kind of as it stays as a hedge against inflation. We'll talk a little bit about what Larry Fink said about Bitcoin. Kind of in the same vein. Silver really have it a good day as well. Trading up about 2.75%. Sadly our boy copper is off a little bit. Almost by one full percentage point. We're seeing massive tick up for crude oil futures. We got a lot of stuff going on regarding that. Kind of a confluence of, I guess, a good environment for increasing gas prices. You have issues going on in the Red Sea. You have issues going on, excuse me, now in the mainland of Yemen. Supply issues still persist in Libya with one of the major fields they have under strike. And then of course our listeners out in the Midwest are getting insane amount of snow. So much so I believe that the Iowa caucus was kind of put on stand still because of how bad that storm was. So we have a lot of stuff going on. That's kind of a perfect storm for seeing crude oil kind of pump up going forward. Really energy costs going up as well. Brent crude up about 1.23%. Let's take a look at Tesla. Now we'll speak about Tesla a little bit. Yesterday when I was on the show, you know we were talking about CPI a little bit and how that was a bit higher in December. Now based on some of the polls from larger finance firms and business, they're saying that some of those components within CPI were a bit inaccurate. Namely one of the big drivers in December was increasing housing costs. And a lot of polls from like as I said big financial firms are saying that's not actually entirely accurate and we are seeing reduction nationally in the cost of rent and homes. Both wait to see. One of the things I was also talking about that could lead to a less than stellar CPI report for this month is going to be these kind of supply chain disruptions that we're seeing caused by the conflict in the Red Sea and then also caused by some issues regarding water in the Panama Canal. So we have Tesla down right now about 4.17%. They said starting January 29th that I believe that goes to February 11th, they are going to cease momentarily construction development at their German plant. And that's just till everything kind of gets ironed out. Now a lot of companies are saying that this might be the case as well. This is leading to a pretty significant, you know, I mean 5% down, 4.18% down is, you know, that's somewhat significant. It's on usual volume, not always a great sign with it. What I would say to that is this, again, is definitely a reaction to news. The past few days, ever since December 27th, we have seen Tesla selling off a little bit and that can be due to a lot of reasons. But I can say pretty positively that this major sell off today is, well, I can't say positively, but these are the moments that I like getting into stocks. When people sell off on major news, that's a very short term, right? And that's what I see going on with Tesla. And that's a personal preference on my end with it. We'll talk a little bit more about that going forward. Steel Dynamics had a, you know, big sell off again from that $1.21 area trading about $1.1293, the dollar up about 0.21%, so a minor divergence at least with the dollar and the precious metals. Looking at the Q's, going to $408.94, Google, $144.26, Meta at $373.71, Disney trading back up into that $90 area. Apple, dethroned as the most valuable company. Obviously Microsoft took over there briefly yesterday and I think again today it established itself. Lucid, we were talking about a little bit yesterday. That's a sad stock. We'll see how much staying power they can have long term with that, especially in a very pricey and kind of competitive EV market. The banks, all right, let's talk a little bit about this, okay? The profits mostly fall in the fourth quarter. The banks are looking that it's going to be okay going forward economically speaking. Of course they've had to pay a lot regarding everything that happened with Silicon Valley Bank. Citigroup actually not doing too poorly right now. They had pretty abysmal earnings, but what they came out and said was that they're going to slash an inordinate amount of jobs. That's obviously positive for a lot of shareholders. Let's talk a little bit about this. Three of the nation's biggest banks said Friday that their profits fell last quarter. As JPMorgan Chase, Bank of America and Citigroup deal with the lingering effects of higher interest rates and the industry costs of last year's banking crisis that caused the collapse of Silicon Valley and Signature Bank. Also First Republic Bank and some bagpipes for all the guys who got in there thinking it was going to pop back up. There's a learning experience for everyone. All the banks had one-time charges and their quarterly results. Many of them specifically related to their own businesses making this quarter particularly messy. But setting aside the turbulence of the banking panic and the charges, the banks had mostly a strong 2023 driven by resilient job market, a U.S. consumer who continues to spend and not fall behind on their debts despite the impact of inflation and higher interest rates that have boosted revenue across the industry. Banks always love higher rates like that because they get higher returns on their loans. JPMorgan Chase said Friday that its profits dropped 15% in the first quarter despite the bank reporting record quarterly revenue. JPMorgan's profits fell because it was required to pay $2.9 billion. Let's take a look on here in JPMorgan's charts. It had paid $2.9 billion to the Federal Deposit Insurance Corp. That's the FDIC as part of an industry-wide one-time special assessment by the regulator to cover these $16.7 billion in cost to cover the uninsured depositors caught up in the collapse of SVB. Other banks like Citi and Bank of America are paying that assessment as well. Kind of interesting. We'll talk a little bit about Citi Group. Mostly international bank cities announced plans to wind down. Restructure or sell off its businesses in the last couple of years. The bank is selling Benamex, its Mexico affiliate. It is effectively liquidating its Russian operations since the war in Ukraine broke out. Citi posted a net loss of $1.8 billion in the fourth quarter compared to $2.5 billion profit a year earlier. Along with the FDIC assessment and some other one-time chargers, the profits of Bank of America fell 50%. And then Wells Fargo had some issues as well that we can talk a little bit about as we're going forward. Take a look at Boeing. There's a lot of stuff coming out with Boeing. Obviously they had the door fly off their airplane. Not great coverage for them. The FAA is going to start looking at them a lot more closely. We'll talk a little bit about that when we get back from the break.