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Wall Street Oasis

Credit Card Crisis? ๐Ÿšจ Americans Drowning in Debt | The Daily Peel ๐ŸŒ

Wall Street Oasis

Wall Street Oasis

Business

4.9 โ€ข 534 Ratings

๐Ÿ—“๏ธ 11 September 2024

โฑ๏ธ 28 minutes

๐Ÿงพ๏ธ Download transcript

Summary

In this episode of The Daily Peel, we dive into the alarming rise in American credit card balances and delinquency rates. We also cover Apple's latest product releases, including their new AI features and health-focused innovations. Plus, we break down the day's biggest stock movers, including Oracle, Boot Barn, JP Morgan, and Taiwan Semiconductor. Join us for a comprehensive look at the day's most important financial news and market trends. ----------------------------------------------------------- ๐ŸŽฏ ๐—Ÿ๐—”๐—ก๐—— ๐—” ๐Ÿฒ-๐—™๐—œ๐—š๐—จ๐—ฅ๐—˜ ๐—›๐—œ๐—š๐—› ๐—™๐—œ๐—ก๐—”๐—ก๐—–๐—˜ ๐—ฅ๐—ข๐—Ÿ๐—˜ (๐—š๐—จ๐—”๐—ฅ๐—”๐—ก๐—ง๐—˜๐—˜๐——) Interested in landing a role that can pay you upward of $๐Ÿฎ๐Ÿฌ๐Ÿฌ,๐Ÿฌ๐Ÿฌ๐Ÿฌ right out of the gate? What if that was guaranteed? Come learn more about WSO Academy: https://www.wallstreetoasis.com/academy?affiliate=socialwinner-youtube ----------------------------------------------------------- ๐—ช๐—ฆ๐—ข ๐—ช๐—ฒ๐—ฒ๐—ธ๐—น๐˜† ๐—ช๐—ฟ๐—ฎ๐—ฝ๐˜‚๐—ฝ - โ โ ๐—ฆ๐—ถ๐—ด๐—ป ๐—จ๐—ฝ ๐—ณ๐—ผ๐—ฟ ๐˜๐—ต๐—ฒ ๐—ก๐—ฒ๐˜„๐˜€๐—น๐—ฒ๐˜๐˜๐—ฒ๐—ฟ ๐—›๐—ฒ๐—ฟ๐—ฒโ โ  https://www.wallstreetoasis.com/media/newsletters/wso-weekly-wrapup The Daily Peel - Sign Up Here https://www.wallstreetoasis.com/media/newsletters/the-daily-peel Join our Discord - Sign Up Here https://discord.gg/Dn3YJZTbsF ----------------------------------------------------------- ๐—ช๐—ฆ๐—ข ๐—ฃ๐—ผ๐—ฑ๐—ฐ๐—ฎ๐˜€๐˜: Apple: https://podcasts.apple.com/us/podcast/wall-street-oasis/id1463441793 Spotify: https://open.spotify.com/show/7nQxuApNXFkUSvojQGKyAQ?si=GrYh2zIHSsub8S8xIX0PjQ&nd=1 Stitcher: https://www.stitcher.com/show/wall-street-oasis-2 ----------------------------------------------------------- WSO Courses: https://bit.ly/2ESzrv2 WSO Resume Review: https://bit.ly/2Z0DFYq WSO Mentors: https://bit.ly/3lIHoUi WSO Events: https://bit.ly/350vMGd

Transcript

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0:00.0

We're also going to be talking about a huge spike in the total credit balances of Americans,

0:05.2

conveniently timed with another huge spike in the delinquency rate that Americans are facing on those credit card balances as well.

0:12.0

Kid you, it's got to be a coincidence, right?

0:14.0

It's not too bad of a sign or anything, huh?

0:16.2

You know, it seems like everything's fine under the hood there.

0:19.2

I'm sure there's no problems at all for us to worry about.

0:28.8

What's up, Apes?

0:29.6

Welcome back to another edition of the Daily Peel's Daily Podcast of the Day.

0:33.1

Thank you all for joining us here once again for another edition of the world's most popular influential podcast with the most handsome host, the most insightful guests, even though we've never had one on before, but still pretty cool stuff going on over here at WSO. And we got a lot to talk about because there's a lot going on in the world here today. First and foremost, we're going to start the day off with the regular fall activity. We are going to go Apple picking. And by then, of course, I mean we're going to be talking about Apple's latest product releases. Apple really is its own economy in and of itself. I mean, if Apple was a country, I think it would be either the fifth or sixth largest GDP in the entire world. It's just larger. It's market cap. It's just larger than that of the UK,

1:11.5

just under that of India. So it'd be somewhere in between that like fourth, fifth,

1:14.9

and sixth spot. So we're going to break down their new release, what that means for the company

1:18.3

going forward. We're also going to be talking about a huge spike in the total credit balances

1:23.2

of Americans, conveniently timed with another huge spike in the delinquency rate that Americans are facing on those credit card balances as well. Kid, it's got to be a coincidence, right? It's not too bad of a sign or anything, huh? You know, it seems like everything's fine under the hood there. I'm sure there's no problems at all for us to worry about. Speaking of which, J.P. Morgan was also plummeting on the session here today. The stock was down quite a bit. We'll break down exactly what was going on there. I thought the goddamn sky was falling when I saw how much the stock was down this morning at the open, but we'll break it down for you in just a quick minute. Before we get into all that, we got some more high-level things to discuss here. so let's go ahead and get into some of the

2:01.3

big movers for the session first and foremost w sow alt's portfolio of about 77 basis points for the

2:06.5

session not a bad day not a phenomenal day either compared to the indices was actually relatively good

2:12.1

so we had the nass stack of about 84 basis points on the session strong note performance from the

2:16.4

likes of amazon tes Tesla. It's

2:18.8

both the reason that you saw NASTEC outperformance as well as the alpha portfolio. Tesla carried us for the

2:23.5

session as it usually does when the stock has an update. The S&P 500 up about 45 basis points at the

2:29.1

same time. And the rest of 2000 shed eight basis points on the session, rough day for small caps.

2:35.0

Okay, moving on into some of our banana bits, the stories that we wanted to talk about here,

2:39.2

but didn't necessarily have enough time to allocate for an entire piece in the Daily Peel

...

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