Complete Breakdown: What’s Happening with the Stock Market?
The Rich Zeoli Show
Audacy
4.9 • 1.6K Ratings
🗓️ 7 August 2024
⏱️ 43 minutes
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Summary
The Rich Zeoli Show- Hour 4:
6:05pm- Dr. EJ Antoni—Research Fellow in The Heritage Foundation’s Grover M. Hermann Center for the Federal Budget—joins The Rich Zeoli Show to discuss the recent stock market slump. On Monday, the Dow Jones Industrial Average fell over 1,000 points. Meanwhile, Japan’s Nikkei plunged 12% —the largest drop since the Black Monday crash in 1987. Rich wonders if the global market is reacting to the wide-spread perception that Kamala Harris could win the 2024 presidential race?
6:25pm- According to reports, New Jersey officials are actively seeking to ban gas powered leaf blowers state-wide—with the ambition of enacting the new law before trees shed their leaves this fall.
6:35pm- A Philadelphia resident named Dave bought a billboard to help him find a date—emphasizing his ability to cook and his cat named Peach. According to Dave, he has already received thousands of direct messages on Instagram.
6:45pm- David Gelman—Criminal Defense Attorney & Surrogate for Donald Trump’s Legal Team—joins The Rich Zeoli Show. Will Donald Trump have his sentencing trial in the New York City “hush money” case prior to election day on November 5th?
Transcript
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| 0:00.0 | All right, we had a bad economic day on Monday. |
| 0:03.0 | What was the reason? |
| 0:03.8 | What was the cause? |
| 0:04.8 | And how are things looking for us going forward? |
| 0:07.6 | Well, we're lucky we have the expert we can ask. |
| 0:10.2 | And that, of course, is our great friend, Dr. E.J. Antoni economist and research fellow at the Heritage Foundation. |
| 0:17.0 | Hello, Doc, how you doing on this Wednesday? |
| 0:20.0 | Rich, I'm hanging in. How are you doing? |
| 0:23.0 | Well, better today than I was Monday. I think everybody Monday was having just tremendous |
| 0:27.1 | anxiety. You know, everyone always has their theories about why the markets react a certain way. |
| 0:32.6 | My own personal theory at the time was because the media all last week was saying, |
| 0:37.1 | it's a jund deal, Kamala Harris is going to win, and they freaked out about her economic |
| 0:40.8 | policies, and that's why we saw what we saw. Now I don't know if that's |
| 0:44.4 | true or not but everybody's allowed to have their own opinions right? |
| 0:48.4 | Well rich I think there's there's a lot of data that supports that opinion of yours I mean if you look at the times over the |
| 0:54.3 | last year, year and a half, when Trump has been ahead in the polls, the stock market has actually |
| 0:59.8 | done pretty darn well, but then you contrast that with how the market has done when |
| 1:04.8 | Biden or now Harris were ahead in the polls and you can also track the betting |
| 1:08.9 | markets you see the exact same thing when the Democrats are ahead in the betting markets you find that |
| 1:13.8 | stocks have done nowhere near as well in fact it's an order of magnitude |
| 1:17.8 | difference so it's not it's not insignificant here. This is considerable. The business climate is predicted to be much much better under President Trump than it would be under President Harris |
| 1:31.1 | Yeah, and now with Tim Walshz joining the ticket, who seems by all accounts to be a progressive Kook himself, |
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