 Good afternoon folks, this is Jacob Schup, filling in for Tom O'Brien. He will be back tomorrow. Take a look at what we've got going on today. We have the ES mini about flat today, the Russell up about 0.15 percent, NQ's again just down slightly 0.22 percent in the Dow futures of about 0.29. We kind of have a flat market today. Some of the bonds kind of going down in price. We'll talk a little bit about that and what that kind of means for rates going forward. We have Tesla, it kind of got eviscerated the other day up about 0.6 percent currently, but trading from about a monthly high of $265 down to $239. Steel Dynamics, down we were looking yesterday at about $120, kind of volatile right now at least for the price, down about 1.69 percent today. Take a look at some of the more base metals here. We have gold. That was actually trading up a bit, we're at 2,051 on the contract, and then silver really gave up a lot of its gains up from that peak of about $26.35. Trading right now at $23.22, copper staying pretty strong like that contract at $3.84. Crude oil, so there's a lot of stuff going on that's going to impact I think energy prices here. There's a lot of tension in the Red Sea. A lot of oil kind of moves through this area. We had the shipping giant Maersk resume shipping through there now, I mean a lot of supplies go through the Red Sea, so this tension's impact a lot of things, but oil will be number one in here. I think we're going to see a jump. We'll talk a bit about that. I get concerned with seeing this oil jump. Prices have actually been pretty low recently even at the pump for a lot of consumers, which is awesome. If there's anything that kind of gets impacted on the oil end here and prices go up, that's obviously going to skew the total CPI. That might cause some kind of reaction in a way that we don't all like, especially for holders. Let's take a little more of the dollar trading flat right now, we're at 102.43, looking probably to retest around the 103 area, a higher dollar, that gets a more depressed market, and we haven't seen a lot of movement in the way that we would like to see the dollar move. QQQ sideways, Google, down about 1.09%, Meta, pretty low, pretty sideways at least rather, about 347.28 Disney, down at 90, so we're trading down about a buck from yesterday, Apple at 182.47 in the spy, we're trading at 468.96. Let's take a look at the global market as a whole. The eurozone is anticipating pretty intense inflation. Inflation is still rising in the eurozone even though they believed that things were going to kind of pull back like we're seeing here. Now this is bringing some doubts over rate cuts. Of course, we're not the eurozone, but this does impact us in some capacity. Essentially, the French released their figures earlier this morning, was rising about 4.1%, which is okay, but that's up from 3.9% from November, so we are seeing an increase there. Germany is getting really hammered with it. It's about to be released here. It's going to be a jump, basically 3.8% from 2.3 in November. If we see this kind of spread out, we might have a more prolonged kind of stage of seeing rates going to get pulled back. We spoke about yesterday how the Fed is kind of thinking about we're going to reduce some rates. They didn't release kind of a roadmap for that. They said probably by the end of the year we'll have three-quarter point reductions, but still if you get something like we were talking about with oil comes in and prices get kind of skewed. Again, I know that's not the core CPI, but I think one of the things that bothers me about all of that is if core CPI is bad, but energy is lower for that reporting cycle, then it's a good thing. Obviously, if CPI in general is just high, but core CPI down, that's a good thing. There's this spin that exists that kind of just persists in the media, especially when CPI is released. I have a feeling that if, again, if energy gets a lot higher, this next kind of cycle, we might see some of that kind of euphoria coming from the talk about a pullback in rates kind of dissipate. We might see some sell-off. I'm not sure we'll have to wait to see on that. We'll take a look a little bit more about this. The oil contracts really are surging. Let's take a look here. Sideways right now, $7,223 in the Brent. Again, we just have a little bit of this tick up here. Yesterday, they were surging around 3%. There's obviously protests over high fuel prices, at least in Libya. This affects oil fuel production in Libya. That completely halted it entirely. There's ongoing concerns over Yemen's, the Houthis, which are backed by Iran. Of course, there are some issues with Iranian drones hitting some big shipments, essentially. This whole area is under a lot of intensity. And again, if this gets impacted, these trade routes get impacted, we might see a bad total CPI going forward. Take a look here. We're going to look at Ford, just for some other news during the day, up about 7.1% in the U.S., vehicle sales rather. Best year since 2019 for Ford. The sales increased about 7% last year, marking the automakers' best sales since 2020, coming in lower than the overall industry's growth. Ford on Thursday reported sales of nearly 2 million vehicles in 2023, which is a 7.1% increase from the previous year. The company finished third in overall U.S. sales. That is trailing Toyota and General Motors. Ford's overall 2023 sales are lower than the industries, which Autodata firms topped about 15.6 million total of last year. Of course, we've been seeing Ford try to get into the electric vehicle area. Again, I think some of these old kind of traditional vehicle makers are going to have a hard time pivoting away, because their infrastructure isn't really focused on that. Volkswagen has been doing a good job. We'll talk a little bit about them in the coming segments. They're a deal with quantum scope, and these guys make a solid-state lithium battery. We'll talk a little bit about that, but it was actually majorly successful. This was positive for Volkswagen. Quantum escape went up, like, let me see here. Yeah, almost 50% today. So we'll talk a little bit about why that is and what that kind of technology, how that plays a role, and how it may impact other companies like Tesla and so on. So folks, stay tuned. We'll be right back.