Peter Tuchman
Appearances
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
Get your 20,000 NASDAQ hats out and there's gonna be a six in front of the S&P by the end of the year. And you have been boom, shaka laka, right on that, both of them, amazing. He's not just another pretty face, forget about it.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
Right, and didn't they just say they're putting ChatBGPT into the iPhone?
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
Right.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
Extraordinary. So the revolution that Dan has been talking about for months now is actually happening. We are in the midst of it. We started eight months ago in the second inning of this game. Now we're probably in the third inning.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
It's so extraordinary. So think about it. When Dan and I were talking a couple of weeks before the election, we were talking about what is the market? Look, that was everybody's question. How is the market going to respond to a Kamala presidency or a Trump presidency? And obviously, look, I believe that this administration, whether Kamala had anything to do with it or not,
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
has to take full credit for where the market is today, right? Mr. Trump cannot take any credit for where we are today, trading at record highs across every indice, some of the best four years, right? We know it. COVID, up 20%. 21, up 28%. 22, down double digits. We know that. It was a function of inflation and the interest rate story. 23 and 24, now up 27%.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
So this administration has obviously is responsible for that incredible market across absolutely every indices. But we were talking about what does it look like on either side, depending on who wins this election? Your question was that, you know, look, a continuation of the past four years. If that goes forward, if Kamala becomes president, then that's not a bad thing.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
Our fear was with Trump coming in was obviously tariffs in China. Right. And you said to me initially, we both agreed that that was the wild card that could cause a problem.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
That was probably the biggest limiting factor to maybe tackle the commonwealth. So just to break that down to somebody who doesn't know really what Dan is talking about, a couple of things. FTC, the people who are the regulators out here, are ousted by Mr. Trump, and you're going to have people more friendly to M&A, so we are going to see a lot more mergers and acquisitions.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
Number two is by bringing Elon Musk into the inner circle of the Trump family. You are sort of patting, you're patting, you're carving out any potential disaster. Look, you're not going to have Mr. Musk in the inner circle
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
representing Tesla and the other Mag 7 are going to now be protected and carve out around those companies because you know he's not going to raise himself up in Tesla and let everybody all fall by the wayside. By having him in there in the inner circle, that's going to carve out a protection mode for all the rest of the Mag 7 and tech and AI.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
Which has not been accepted that well. That's been the wild card.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
So think about it. What was the one thing that took Tesla down to $350 about four weeks ago was the meeting they had about the autonomous cars that was not received well. They knocked Tesla down $70 at that point. And it sat there for three or four weeks. Remember that? We talked about it. And I said to you, what's going on with Tesla? Is it going to come out of this doldrums?
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
And you said, don't worry. Earnings are next week. People are going to get on board with the autonomous vehicle story. And they did. Once again, Dan Ives. Number two, number three for Dan Ars, because earnings did come out. The stock went up $13 after hours, $50 the next day, and it's up $100 since then. But that's also because of the bears.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
Bears! Are there any bears here?
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
Okay, so where does that leave us? That leaves us in the midst of a revolution, the second, third inning of an amazing ballgame that's all about tech, AI, Jensen, best of breed. It's also, you're talking about... at 4 o'clock in a party that's going till 10 p.m. in a party that's going till 4 a.m.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
with yet a lot of the derivatives of the AI story, Microsoft, Google, Amazon, have yet to be let in through the Red Rocks.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
On the sidelines. Imagine that still on the sidelines.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
So look, how exciting is this? It's absolutely unbelievable to think about what Dan is talking about, this amazing revolution. And look, at the end of the day, I kind of lost my train of thought. But look, at the end of the day, now, come on, bring it back, V. Where are you? You know what? I'll just keep going.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
Okay, so what I wanted to remember, that's a great part of this story, but at the end of the day also, think about it. This market, if you had seven fingers on your hand, that is the amount of times, I'm a seven finger hand, like Bruce Almighty, remember that great scene in that funny movie? At the end of the day, we've had seven opportunities this year. Look, This market is up 27% for the year.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
We've had seven times this year where the mainstream media has called recession, depression, dogs and cats living together, all that craziness. We saw it in April, right after the best quarter since 2019. We saw it in July for about a 7% pullback for the first week there. We saw it on August 5th. right, which was that devastating day.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
We came in on a Monday after Black Monday in Japan with all that story, the carry-on trade. We've talked about it many times. Then September, the first week, the worst week for tech since COVID. The second week, the best week for tech since COVID, October 5th. So that is about six or seven times. Then this week,
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
We had two days where the market came off its highs last Friday, record highs across all indices. We came in on Monday and Tuesday and we pulled back. Nothing significant, but the mainstream media kept talking about, this is it, the story's over, the bubble's here, blah, blah, blah.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
When these were sell-offs or pullbacks or consolidations, whatever you want to call them, surely not crashes, were nothing more than an opportunity. We always say, if the story has not fundamentally changed at all, Take an opportunity. In April, when we were down 7% in this market, Nvidia went from 924 down to 700. It happened once again when the earnings came out in March, April, May, and June.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
We've seen this happen in every pullback. The baby gets thrown out with the bathwater. And if the story hasn't fundamentally changed, take this as an opportunity to buy stocks at a discount.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
Right.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
You have all... January profit taking. What do you think about this tax credit thing? Like, people are not going to be selling, right? They've got profits in their investments this year, most people, unless you've been trading blind and you're not making any... Even our man Niall here, right, our filmer here, has made a lot of good money this year. Don't tell the IRS. Anyway, yeah, go ahead.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
That's extraordinary. Look, those are amazing numbers. And look, if historic data tells us anything, Dan called these numbers in February 2024, and he's calling them here now. That's what 2025 looks like. Any fears of what could happen within the new administration coming into next year?
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
Okay, so think about it. Even though the bears do come out every once in a while, they're sitting in the cave with their Pepsi slushies and a bag of Doritos. Now there's new organic Doritos. I just found out about that the other day. Go check them out. Organic Doritos. Can you imagine? You think the bears are eating the door of organic Doritos?
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
No, it's counterintuitive. Doritos are Doritos. It is. Right, you just want to eat them and get nauseous. Exactly. Okay, so we're going to wrap this up. It's really a pleasure. We are going to have one more, I hope, before the end of the year. Dan Ives, Einstein & Ives, Trade Like Einstein, Money News Network. We are covering in for our friend Nicole Lappin, who's on maternity leave.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
Ladies and gentlemen, we are in the midst of a revolution. Put your money to work. We have explained this to you on any level. Get your feet in the water and get busy making money, not losing money. Invest in stocks, not stocks. Have a great holiday. That's it, my man. Dan Ives. Giddy up. Boom. That's all I got to say about that.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
Three, two, one. Hey everybody, it's me, the Einstein of Wall Street. We are here with Trade Like Einstein. I am Peter Tuchman and we're here on the floor of the New York Stock Exchange in the balcony. History is made in this building every single day.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
Somebody with my long-term experience, I've been here for 137 years, it is my responsibility to help teach you how to navigate this market successfully.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
Boom! Hey everybody, it's me, The Einstein of Wall Street from the floor of the New York Stock Exchange. The ceiling, the floor, the greatest financial institution in the world. We're talking S&P 6000. What a great week. We are now, amazingly enough, I can't believe it, I'm still back in July, but We are literally two weeks away from the end of 2024, a year that has given us 27% on the S&P.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
It has hit records in the Nasdaq of 20,000. I think we came super, super close, but surely broke through 6,000 on the S&P. The Russell trading at record highs and the Dow at 45,000, right? Pulled back a little bit this week, but that's not that important. We actually had, on the day that the market broke 20,000 on the Nasdaq, The NASDAQ 100, I believe, broke 20,000.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
That was a day that we had a record high in Netflix, Amazon, Google, Apple. And meta, can you imagine that? Not 52-week highs, but record highs. So these are real numbers, real money being put to work. Really, you know, while the valuations seem to be a bit frothy, people are paying them, right? It feels like today's high is tomorrow's low. I mean, that's the way it is.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
If everybody's been sitting around not wanting to pay top dollar for these stocks and not wanting to pay record highs, well, they've missed the boat. They've missed that whole year. That's why I always say there's no bad time to buy this market. Think about that. We've seen Nvidia, we've seen Nvidia go off the charts.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
Every one of these pullbacks we've seen in 2024 has been a screaming buying opportunity for tech, for so many different sectors and stocks on the exchange. So anyway, the last couple of weeks, obviously we did a little bit of a flat line here, okay? So look, eight times out of eight, now it's nine times out of nine when you've had a presidential election cycle, right?
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
You've got a nice rally into the election, a bit of a follow-through rally the couple days after the election, a sort of flat line with a slight pullback until November 22nd. Then you see a nice rally into the Black Monday, Black Friday of Thanksgiving. This year we had amazing Amazon, and nationally we had the greatest Thanksgiving season of all time.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
And then a little bit more of a bit of a flatline into middle December, and then Santa Claus rally into the end of the year. That's happened eight times out of eight times within the presidential political cycle, and this time it happened a ninth time.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
So that was that little bit of a flat line we saw last week, until Friday, when we had those economic numbers, the payroll numbers that came in that were right in line, if not better than year over year, and the market loved it, and we closed on last Friday, a week ago, at record highs across the board in every indices.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
Then we came in on Monday, we came in on Monday and the market pulled back a little bit because Nvidia, the Chinese government attacked Nvidia for monopoly practices, right? And that took Nvidia down and it took the baby out with the bathwater and it knocked the whole market down. Look,
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
The bears have been sitting in their caves, dying and waiting to come out, and they've only been able to come out seven times this year. They've been sitting there with their Pepsi slushies and their Doritos, dying to come out. Every time they came out, they came out in April, came out in July, came out in August, came out for small bits of time, maybe a day or two, a week.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
They've been rebuffed by way stronger bullish markets after the fact. And they kept saying, I told you so, I told you so, but that never came to fruition. Right? And once again, Monday, Tuesday this week, they were saying it one more time, like, okay, I told you this is going to happen.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
Yet it didn't happen because Wednesday's CPI number came in and it was right in line, 3.3, 3.3, just what the market expected. And the market rallied and once again closed at record highs, up 55 handles on Wednesday. Thursday, sort of anemic at best, probably a little bit of a sell-off because the PPI number was disappointing. But what did that mean? That was where bad news equals good news.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
That negative data that came out is what's going to probably give that last bit of powder for the Fed to cut interest rates in next week's meeting. It's a beautiful thing. So that's probably what's probably going to catalyze the Santa Claus rally that will bring us in at the end of this year over the next two weeks into a record close for 2024. That's how I see it. And you know what?
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
Look, I can I may be wrong. I've been wrong before. There could be something that throws completely dislocates this whole story in a big way, but I don't see it happening that way. This week was extraordinary in so many ways. We did have the soon to be president of the United States come down to the floor of the exchange.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
First president since Bush I that came down, and the most notable was Ronald Reagan, who came down on March 28th, 1985, which is the first day that the Einstein of Wall Street got a job on the floor of the exchange. That was the first day I got down here, and what a day it was. What an amazing time, an amazing life it's been for me. He came down to the floor, security was absolutely insane.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
He gave a speech up in the boardroom. Apparently, the US has these reserves of petroleum. Most of our oil partners throughout the world are not our friends, right? Venezuela, Iraq, Iran, Saudi Arabia, and Russia. So we have these petroleum reserves in the hundreds of millions, perhaps hundreds of billions of barrels of oil that we need and gasoline that we need in case of a confrontation.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
Well, now Mr. Trump announced down here on the floor of the exchange that we are going to create a reserve in Bitcoin in the same mindset. Right? Besides the fact that he announced that we are going to be the kingdom of crypto, now we are going to have a prudent reserve of Bitcoin in the U.S. basis of the U.S. economy. That's a cool idea. Right?
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
So if you're in that name, then that's probably going to give it a little bit of boost. I think it did. It probably helped take it up to 100,000 a coin where we live right now. He then did come down to the floor. He did ring the bell. You know, he talked about a number of different things. Tariffs in China, blah, blah, blah. The only... The people that showed up for him were extraordinary.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
CEOs of all the biggest brokerage firms, Goldman Sachs and whatnot. You know, Bill Ackman, CEOs of some of the largest hedge funds in the world. Vice president was here. So look, unfortunately, I thought it was going to make the market pop, but it did not do that at all. The market kind of faded into the day and yesterday. Was that yesterday? That was yesterday.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
And then today we had a little bit of green on the open because we had some economic data. It was reasonable, nothing that exciting. And we closed out the week probably, I don't know, net I think we were up on the week. We closed down six handles. You know, the Dow has been under a lot of pressure, probably just one or two individual stocks. But where does that leave us?
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
That leaves us with the Fed meeting next week. My gut is it's 88% chance we're going to cut interest rates. Anyway, I'm out of breath. I got to get out of here. It's been like the longest month for a week I've ever seen. I love you all.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
bing bong shotzi have a great weekend i trade like einstein money news network shout out to my beautiful friend nicole lappen who's on maternity leave may she give birth to a beautiful healthy child and we love you all and that's all i got to say about that hold on to your wallets money rehab will be right back and now for some more money rehab
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
now here's peter's conversation with dan ives hey everybody it's me the onset of wall street from the balcony at the new york stock exchange we are sporting even though he is as per the new york post the best dressed man on wall street we are sporting the same kind of duds we got cool sneaks he's got some cool colors i got my lacoste thing going on we got a very cool hoodie
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
You know why we do this? We want to be accessible to the general public so that we can share with you everything we know about tech, the volatility, earnings, the stock market, and the New York Stock Exchange. Thank you for joining me today, sir. Great to be here. You are the man. So let's go back. Yesterday, obviously, we had Mr. Trump here on the floor, the first president since Bush won.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
And then, obviously, the most notable visit was Mr. Reagan. The first day I actually worked on Wall Street, it was March 28th, 1985, and it was wild and crazy here back then that we had 8,000 people on the floor then working here. So you can imagine when the president come and then we had, there wasn't as much security because you didn't need that much security back then. Bush won, though.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
We did do. There was an old prank that used to happen always on the floor of the stock exchange when a celebrity or a dignitary would come down. Somebody, when they were engaged in a conversation and overwhelmed by the room, someone would come up behind them and dance their shoes with baby powder. Right. And everyone on the floor would start banging their feet, saying it's snowing in New York.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
They would suddenly look down and see baby powder all over their shoes. We even did it to the president. And yes, it was extraordinary. That was one of our greatest clues. The only one who actually got upset was, I think he was an Italian, someone in the Foreign Service for Italy. He was wearing purple, patent leather, velvet shoes. And we doused him with baby powder.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
He was probably never able to wear those shoes again. Anyway, let's get down to business. Yesterday, Mr. Trump was here. He talked about a couple of things. He talked about setting up, you know that the U.S. has a prudent reserve for petroleum, right, in case of war, in case of any kind of a problem. We've got hundreds of
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
I think hundreds of billions of barrels or millions of barrels of oil on reserve in case of a war, in case of a confrontation at some point, because you all know that a majority of the nations that are oil producing nations are not our friends. Venezuela, Iraq, Iran and Saudi Arabia and Russia, of course, the largest producers. So yesterday he did say
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
that he was going to set up a prudent reserve for Bitcoin, right? Which is obviously extraordinary. And I think it's probably given a little bit of the boost to Bitcoin since the election.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
Exactly. Isn't that extraordinary? That came this morning. Yeah. Right. And then yesterday, he announced the prudent reserve of Bitcoin.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
So we know like Apple's got hundreds of millions of dollars in cash. And a lot of public companies, obviously, how do they end up displaying earnings or whatever the word is, giving out earnings is by having cash on hand. Some hold cash. It was one of the problems back in the day that everyone was saying, why is Apple holding so much cash? Why don't they give some back to the shareholders?
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
Anyway, not what we're talking about today. So that's fascinating. So yes, MicroStrategy, Mike Saylor, Mike Saylor's company, obviously is one of the largest holders. I think all their holdings are in Bitcoin.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
So if you are looking for exposure to the Bitcoin game and you don't have $100,000 to buy in a coin, there are other ETFs, I believe, Beto that trades here on the floor. Obviously, Mara is one. And obviously, MicroStrategy. It's expensive. It's trading for hundreds and 400 bucks, I think, at your share.
Money Rehab with Nicole Lapin
Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets
So that's exciting. Take heed of that, right? That's coming from the man who knows everything about derivative play. We've heard about that as respect to AI and the derivative plays that are respective to... Again, there was Nasdaq 20,000 ads, right? And the point is like... Let's think. When we started having this Einstein and Ives conversation, you said two things to me.
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
Hey everybody, it's me, the Einstein of Wall Street from the floor of the New York Stock Exchange. Ladies and gentlemen, I'm going to be your temporary host sitting in for Nicole Lappin of Money Rehab as she is on maternity leave. We're gonna be doing episode after episode every day of what the heck's going on, giving you a forensic breakdown of what's happening into the market as we end 2024.
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
We'll be seeing a lot of you, so stay tuned.
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
Three, two, one. Hey everybody, it's me, the Einstein of Wall Street. We are here with Trade Like Einstein. I am Peter Tuchman, and we're here on the floor of the New York Stock Exchange in the balcony. History is made in this building every single day.
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
Somebody with my long-term experience, I've been here for 137 years, it is my responsibility to help teach you how to navigate this market successfully. Boom!
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
Hey everybody, it's me, the Einstein of Wall Street. Wow, what a day. This morning, I believe the PPI numbers came in, and they were not as good as we would want. So that definitely set the stage for an interest rate cut, but that also dragged down on the market in some sectors more than others.
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
Look, we came in this morning, Mr. Trump, our soon-to-be president, was nominated Person of the Year by Time magazine, and they, in cahoots with the New York Stock Exchange, decided that they would then ring the opening bell
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
and make a party out of it and they sure indeed do that uh you know i've been on the stock exchange for 137 years i've seen you know presidents come and presidents go the last president who i was there for was the last president who was there was bush number one And he and his wife came to the floor, I believe. And no, maybe just him. And then the younger Bush's wife came without him after 9-11.
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
But yes, Bush one was there. We ended up powdering his shoes, which is a bit of a gag that we do on the floor of the exchange. But he was the last president to be there. Obama, Clinton, or Mr. Biden, none of them had been down to the floor. So this was a big deal. And so this morning we came in, security was off the charts, as rightly so, two attempted assassinations on Mr. Trump.
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
So they basically really needed to set the stage so that there was no chance that, God forbid, anything could happen to the next president. So we had, you know, and also inside the floor of the exchange, it was just set up for, you know, a smooth entry in, a smooth entry out.
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
We were sort of, you know, our maneuverability on the floor as brokers was a little bit restricted, but that's okay for an event like this. So be it, so be it. So they honored him upstairs and he came with an incredible entourage. I did send some pictures, hopefully that you will be able to see them. But Mr. Vance, J.D. Vance, the vice president to be, was also there.
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
Mr. Trump's wife and daughters were there. And all the CEOs of all the largest hedge brokerage firms were there. David Solomon, head of Goldman, and a number of others, chiefs and chiefs were there. And then a couple of heads of major hedge funds were there. Steve Ackman, who I believe had been a Democrat and had switched parties, was there to support Mr. Trump. He ended up going on CNBC.
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
You know, the only thing that was slightly disappointing was that Mr. Musk was not there because he is a big, big added value to this organization. You know, in a way, if you are at all interested in what's going on with tech and AI and all that kind of stuff. So anyway, the first thing they did was honor him in the boardroom, which was amazing. And we were not in for that.
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
That was just super strict, the inner, inner circle. And that was cool. And then they came down to the floor and they rang the opening bell. And then they did a little bit of a walk around with restricted maneuvering on the floor, walking and seeing what's going on. but they basically kept people in their spot.
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
But what was disappointing was that I kind of anticipated that the market would respond favorably to Mr. Trump being there, and it did not, right? So whether it's the economic data, was the market slightly fatigued or whatnot, but that was the case. We closed down an odd lot. really was an odd line. I think the market's trying to figure itself out.
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
I believe we got some more economic data coming in tomorrow. It's kind of getting its footing for Santa Claus to come. I mean, you've got to be able to hear the ring-ding-ding of the sleigh bells and the reindeer, because I feel that they're coming to town. I kind of got, my gut is that the last couple, look, we are on the 12th. Right. So you've got 12 days to Christmas.
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
You've got 20 days until the end of the year. And, you know, often you will see window dressing in years where the markets are down. That's surely not this year. We are up 27 percent for the year. You know, what we did have, which was so exciting about yesterday, was that Nasdaq closed at a record high above 20,000. Right. Today, there's a little bit of a pullback.
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
So we gave a little bit of it back. But that's amazing. You're talking about stocks, the highest flyers on Wall Street, the Google and Amazon and Netflix and these stocks and a couple more and Apple. closing at record highs, like all-time highs, not 52-week highs, like the top of the top, the cream of the crop, unbelievable. And that's big, that's quite a year, that's an incredible show.
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
So that should signify to everybody that this is not a bubble, this is not just window dressing. These are real numbers, real money being put to work, real support, real loyalism as far as those companies go, because those are loyalist companies, right? Amazon, if you're an Amazon buyer, that's what you do. If you're a Netflix watcher, that's what you do.
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
If you're an Apple user, that's what you do. And that's how we are. We are the greatest loyal consumer generation, I believe, of all time. When we like a burger, we like Shake Shack. When we like an Uber, that's who we drive with. If we like an Apple, we've got the phone. Computer, it's like what we do in our spare time, what social media we're on.
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
If we're an Instagram person, that's where we put our loyalty. And so that's an unbelievable thing. When young people ask me what stocks to invest in, I will often say to them, go to school, high school, college, wherever you are, go to school and ask 10 people that you see in class what sneakers they wear, what computers they use, what they do in their spare time, what social media they're on.
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
You know, and really get a sense of their loyalism and where they stand, you know, and you will end up finding that you're going to, and this is no endorsement of any of these companies, but you're going to, you know, and what hamburgers they eat and what coffee do they drink.
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
So you're going to hear a Starbucks, you're going to hear a Shake Shack, you're going to hear an Apple, you know, maybe not Nike because it's having a bad patch, but for a while there it was a Nike thing. But, you know, these are the companies that have taken this market higher and higher. They're part of the Magnificent Seven, which is unbelievable.
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
So that's what's brought 2024 to where it is, up 27% for the year. In the eyes of so much potential, it's troublesome times. This year could have gone a whole other way, right? But it didn't.
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
right we forged forward there were pebbles in our shoes we took them out of our shoes there were bumps in the road we went around those bumps there were wars on the path you know and we moved on through those so i mean you know the markets are resilient people are resilient humans are resilient right we know that from our own lives so anyway today was an extraordinary day from the market's perspective globally whether you like mr trump or not it was an event that will be remembered
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
forever person of the year obviously person of the year is not necessarily somebody who you may think is a good person or a bad person or whatever but somebody who's definitely is forging a new space as forging a new path and is changing the world in many ways some for the good some for the bad but
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
You know, what an amazing day, what an amazing year, what an amazing life, what an amazing market, volatility, liquidity, talking markets, talking, you know, it's a beautiful day to be alive. You know, I try to wake up with some gratitude in my attitude. I try and go trade the market. I try and like to share and educate, motivate and inspire as many people as I can along this journey.
Money Rehab with Nicole Lapin
Behind the Scenes of Trump's Visit to the Stock Exchange
and surround myself with people who are really good at what they do and are inspired and motivated to do great things and learn and teach and share their stories with anybody. So I love you all. Have a wonderful night. I'm signing off for the night. Bing bong, shotzi, I'm out of here.