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Chapter 1: What message did Trump send to big tech?
Markets stumble as Wall Street sells off Bitcoin. big tech. Perhaps big tech's realized with all of its stock buybacks and all of its kind of gimmicks that it is going to be exposed. So perhaps it's cozying up to Donald Trump because it wants itself to have a bailout. Perhaps that's one of the things that's going on. I mean, look, take a look at the stock market again on Friday.
The Dow Jones was down almost a percent. It was down 333 points. The NASDAQ was down almost 1.5%. It was down nearly 300 points. The S&P 500 was down 1.11%, down 66.75 points. And as CNN reports, markets stumble as Wall Street sells off big tech. I did a report earlier this week about how all of these companies have valuations that far exceed expectations.
Chapter 2: How did the stock market react to Trump's statements?
what they actually should be based upon their earnings, based upon their revenue, and based upon their EBITDA or profits. Here's the headline from CNN. Markets stumble as Wall Street sells off big tech. US stocks ended Friday in the red, closing out a lackluster week despite a year of historic highs.
Under what was happening earlier in the year with those historic highs, who was in power at that point when we would be doing these reports and we would be hearing another record closed, the Dow, the Nasdaq, the S&P is setting another record.
Chapter 3: What were Trump's predictions about the stock market?
By the way, y'all remember, what was it, two weeks ago or three weeks ago at this point when Donald Trump went to the New York Stock Exchange and all three of the indexes, the Dow, the S&P, and the Nasdaq went down when Donald Trump was there and brought out all of his kind of propaganda stuff. And then Donald Trump was asked by Jim Cramer, the CNBC business host, or he's masquerading as that.
So Donald Trump. Should American workers invest in the stock market? Y'all remember what Trump said? Trump said, I don't know. It was a softball question. Should American workers invest in the stock market? You are Mr. Accordion Hands. You've made all of these promises. Trump goes, I don't know. I'd be worried. If there's a dip, they're going to get hurt.
If there's a dip, they're going to be hurt. That's the message you're sending to the markets? Seriously? Donald Trump had also said he can't control the prices. It's going to be too hard to bring down the price of goods. And look... Since the election, egg prices are up, up, up. Mortgage rates are up, up, up. That's not a good thing. You want that to be down.
Donald Trump already lying about his promises and we gotta hold him accountable. Let's just take a look at this article. The Dow was lower by 333 points. Shares of Tesla closed lower by around 5%, while Amazon, Alphabet, which is Google, Microsoft, and Nvidia lost about 2%. Most of those people have their CEOs kiss the ring at Mar-a-Lago.
Chapter 4: What happened to major tech stocks recently?
The magnificent seven group of high-performing tech stocks, Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla, has accounted for more than half of the gains so far this year as they benefit from intense investor focus on ways to play the artificial intelligence boom, according to S&P Dow Jones indices.
Analysts have long cautioned that the market's reliance on a handful of names exposes the stock market to potential trouble should the group stumble. If few of these companies fail to beat an elevated bar for positive surprises, there is a risk they would also fall together, said Keith Lerner, chief market strategist for Truist Wealth.
Chapter 5: Why should investors be cautious about the current market?
I would prefer a broader market where mega cap growth stocks do well.
and other segments are doing well so if one area falters another segment picks up the baton bitcoins tremendous late year rally also fizzled as traders look to profit taking the cryptocurrency had dropped to around 94 000 by late afternoon on friday after topping 106 000 earlier this month on hopes that trump would usher in a crypto friendly administration but
Chapter 6: What does Trump's crypto-friendly stance mean?
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Chapter 7: How are grocery prices related to Trump's promises?
Go to selectquote.com slash Midas today to get started. That's selectquote.com slash Midas. For Trump, crypto-friendly meant he did that deal with the Chinese crypto company, that guy who ate that banana for $6 million, who invested in Trump crypto, basically giving Donald Trump a profit of about $15 million while that dude was under investigation by the SEC.
Remember this headline from a week ago or so? Trump now says bringing down grocery prices as he promised won't will be very, very hard. Really? Seriously? I mean, again, how MAGA people can look at this while Donald Trump is in Mar-a-Lago bragging about Bill Gates showing up and Elon Musk is calling the MAGA base the R-word.
Over and over again, he's saying that they're dumb and they're stupid and they're the R word and that they shouldn't have a voice and that they should just listen to him and his views that he needs immigrants from India to fill these jobs because Americans are not smart enough. Elon and Vivek Ramaswamy are saying. all the while that Donald Trump is doing this.
By the way, a bunch of you at the Midas Mighty shared your own personal experiences with me in one of the last videos I did. I thought I'd share it. Lee writes, milk a month ago at Walmart was $2.89 a gallon. I purchased milk last night and bread. The milk was $4.09 a gallon and the bread was $4 a loaf. My point is Trump hasn't even taken office yet and they're already raising prices.
Make that make sense. Hashtag greed. It makes Trump sense because this is what happened during the first Trump administration. It was obvious what was happening. It was price gouging. It's corporations run wild right now and they got the green light from Donald Trump. That's why Trump's saying he can't control the prices, it's too hard.
His buddies, his cabinet worth nearly a trillion dollars, they're the price gougers. They're the private equity that's buying up the homes and stopping the supply so that the prices go up. They're the problem. They're the CEOs and venture capitalists in private equity who are screwing the country. That's what's going on.
Another commenter said to me, Ben, I don't see eggs for any less than $4 a dozen. Grocery prices are only rising in my area. I will be making changes to my 401k this week into ultra conservative low risk investments. Trump decimated my 401k his last term because I didn't act proactively but reactively. It was too late. The damage was done and I lost 30% of my retirement savings.
Thanks to Joe Biden for bringing it back. But since Trump got elected, one small little bump during the first couple of days following, but now it's back down and stagnating like the last time he was in office. I like this one from Lars. This is so true. Remember just a few weeks ago, Trump didn't even know what the word groceries meant.
And when he found out, he tried to implicate that he himself had come up with it. He tried to say he made up the word groceries. So do you think he's going to lower the price of something that he thinks he just invented if he doesn't know what the word groceries meant?
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