 What is going on Tigers this is Jacob filling in for Tom I'll be with you tomorrow as well So for the past week a little bit of change you've had all the major indices going down Quite a bit here look on the weekly With the Adele futures the S futures and Qs. I mean you guys have been trading you've seen what's going on with all this today We have Tim or to coming on and he'll be Discussing a little bit about the future outlook for the SPX Let's take a look. We have the NQ's down almost about 1% with the ES of the futures down about point six six Ym about the same as well Our bonds are going down the interest rates going up on them. This is getting into a really strange zone where we have a High growth high interest rate environment and we'll take a look at that too the Atlanta Fed is Suggesting there might be or at least projecting there might be a 6% GDP growth for the third quarter Gold on its way down to that 1900 Level down about half a percent today silver up a little bit and then copper as well copper has been doing somewhat decently especially with concepts of the Impending recession although those seem to be easing a little bit at least in the mind of larger profile wealth managers Qs obviously down Spy Tesla down 2.2 percent meta down 2.28 Google up Really about flat Disney. This has been such a shame Mainly because I was an investor in them But they've gotten slaughtered with everything going on. I know DeSantis was asking for them to kind of stop Pushing back Against his change on their what do they have? Basically the special privileges that they possess for such a long time. He said they're not coming back Furthermore they closed the Star Wars overnight kind of a Project that they had was very expensive a lot of the times when you see some of these larger companies, you know leaning out a little bit And they cut different features or experiences the market tends to really like that. We see that with meta as well It seems like I was just talking about this in the office. Maybe last week You know when they cut Plans for the metaverse their stock skyrocketed and they just cut something recently where they had some AI essentially With different medical compounds and they cut that as well and the stock skyrocketed again Because the idea is you know, you're freeing up cash to do more things and for whatever reason a lot of this might be political as well Disney even though they're cutting some of their expenditures kind of continue to go down a little bit So we'll see what kind of goes out there. They're nearing that March 2020 low Right around here So I mean that's pretty significant as well. I mean it's that's down from pre-covid levels that they're trading at currently We're looking at copper a bit southern copper has done quite well also let's get out of the five year We just take a look at this on a year to date. I Mean we're trading it, you know from the beginning of the year we're at that 72 level right around here Dip down on some pretty significant volume down to 64 And then we had some private equity groups buying copper and some other people as well. Remember Maybe a month ago when I was on the show Was talking about the potential for copper to go up to prices like this Or at least some certain companies as it's getting a little bit more difficult to find it and it's in greater demand as time goes on Of course we get a little bit of retest on the last day with volume here But it seems like it might be we'll see what happens today. Let's take a look on the daily Yeah, we're so we're down on you know trading sideways on some volume We'll see how southern copper pans out, but it was an interesting buy and if you got in around that time about a month ago Not a bad purchase steel dynamics. I've been watching this Very closely So what I want to look at It was constantly testing these levels. These were the high volume levels Obviously broke down a little bit and kind of traversed down to the 90 mark They came right back again on high volume Rejecting this area here and just trading into this bounds of 100 and 110 Usually when you have a stock that's testing these high volume kind of bottoms and it rejects it on low volume That might be setting up for a movement down We had some high volume on the up end here on the close So we'll see if it really wants to test this 110 if we can break through with some decent volume We might be kind of making a new little zone to be trading into Hawaiian electric So this company Supplies about 95% of power. Obviously Hawaii. I think it's Maui Experienced some pretty catastrophic fires And this is traded down pretty significantly, right? They almost have I mean I wouldn't say a monopoly right at 95% Supplying energy to Hawaii There's been some talk, you know, do we buy at these levels is this oversold right? There's some lawsuits coming out Against them. I'm not sure how well that stands up in court and I was trying to find other examples You know from California at least were there any lawsuits taken out against electric companies for not doing enough during fires I was not really able to find much data What I did find is some of the larger electric companies in California It took about 11 months for them to really reach the true bottom From, you know, the pre-fire kind of price and So, you know, this is obviously an insane sell-off just today. You have a 23% decrease Down from this massive gap And what I would say to that, you know is A new company going to come in and ever get a foothold when Hawaii electric had 95% dominance probably not, right? However, I am a bit concerned at buying at this level. We still might see again, you know In California you had about 11 month period when the largest electric supplier reached its bottom So buying at this point, you know, you might be still purchasing a falling knife here So waiting for some time to see kind of how this shakes out Seeing if they're going to get any financial help from the mainland It'll be interesting to see but keep your eye on this because, you know If the recovery efforts are effective and a bit quicker, and let's hope they are, right? This might see a pretty decent bounce back I Was talking with one of my people about Duke Energy, they have a pretty big monopoly around where I live and they're raising their prices Like I'm paying an inordinate amount for energy in my apartment, and I'm not really there often I just run the AC all day and Duke released it's just interesting to see how these guys kind of operate right and all electric companies do this They released a statement and if you call them, they'll say the same thing That natural gas prices were so high the past two years, so therefore we have to adjust our rates Which is an insane thing because yeah, you had volatility for a short amount of time But you know natural gas is at historic lows right now, and I mean they burn the stuff off Where they where they extract it and I promise you that Duke Energy will not decrease their rates And I'm sure other electric providers won't either so they might be it worth a look Especially if you're in the south as more people move here and it gets hotter folks. Stay tuned. We have Tim Ord on next