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On The Tape

RiskReversal Media

News, Business, Investing, Business News

4.6 • 757 Ratings

🗓️ 9 September 2024

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

Guy Adami and Liz Young Thomas of SoFi analyze the recent performance of stock market, noting it was the worst week since March 2023's regional bank crisis. They debate whether this signals a market correction or an emerging larger issue, with Guy cautioning about potential underlying problems. Elizabeth attributes some stock volatility to the labor market and AI hype. The conversation covers various economic indicators including the unemployment rate, CPI, and shifts in market areas such as utilities and commodities. They also discuss the global implications of Japan’s monetary policy changes and speculate about future market directions. Subscribe to our newsletter: https://riskreversalmedia.beehiiv.com/subscribe — About the Show: On The Tape is a weekly podcast with CNBC Fast Money’s Guy Adami, Dan Nathan and Danny Moses. They’re offering takes on the biggest market-moving headlines of the week, trade ideas, in-depth analysis, tips and advice. Each episode, they are joined by prominent Wall Street participants to help viewers make smarter investment decisions. Bear market, bull market, recession, inflation or deflation… we’re here to help guide your portfolio into the green. Risk Reversal brings you years of experience from former Wall Street insiders trading stocks to experts in the commodity market. — Check out our show notes here See what adding futures can do for you at cmegroup.com/onthetape. — Shoot us an email at [email protected] with any feedback, suggestions, or questions for us to answer on the pod and follow us @OnTheTapePod on Twitter or @riskreversalmedia on Threads — We’re on social: Follow @GuyAdami on Twitter Follow Danny Moses @DMoses34 on Twitter Follow Liz Thomas @LizThomasStrat on Twitter Follow us on Instagram @RiskReversalMedia Subscribe to our YouTube page The financial opinions expressed in Risk Reversal content are for information purposes only. The opinions expressed by the hosts and participants are not an attempt to influence specific trading behavior, investments, or strategies. Past performance does not necessarily predict future outcomes. No specific results or profits are assured when relying on Risk Reversal. Before making any investment or trade, evaluate its suitability for your circumstances and consider consulting your own financial or investment advisor. The financial products discussed in Risk Reversal carry a high level of risk and may not be appropriate for many investors. If you have uncertainties, it's advisable to seek professional advice. Remember that trading involves a risk to your capital, so only invest money that you can afford to lose. Derivatives are not suitable for all investors and involve the risk of losing more than the amount originally deposited and any profit you might have made. This communication is not a recommendation or offer to buy, sell or retain any specific investment or service.

Transcript

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0:00.0	Welcome to the Monday version of the On the Tape podcast. I'm Guy Adami, joined today by Elizabeth Young Thomas of SoFi. I have not figured out a good rhyme yet, but here she is. Hi, EYT.
0:14.9	Good morning. Good morning. Just the two of us today. Just the two of us. I believe Dan, Nathan, is en route to California.
0:23.1	And I believe you are headed there as well later this week.
0:26.2	I am.
0:26.8	I am headed there tomorrow for some very important leadership stuff.
0:31.0	I will be with all the SOFI crew.
0:33.5	Well, it's perfect then because we need your leadership today.
0:37.1	By the way, you should check out the On Atape podcast this Friday as well because Mike Wilson will be joining us. It's always great when Mike sits down with Danny Moses, Dan, Nathan, and myself. So tune into your favorite podcast or whatever Dan says for that. Let's get into it.
0:54.9	Last week apparently was the worst week for stocks in terms of performance since March of
1:00.8	2023. That's going back a bit. And I didn't realize that because if you looked at the week,
1:06.2	it seemed, yeah, it was bad, but it didn't seem really all that catastrophic to me. But that just goes to
1:13.1	show, I guess, how well the market's been doing for the last 15 or 16 months. Well, and as a refresher,
1:18.6	what happened in March of 2023 was the regional bank crisis. So if we had the worst week
1:23.0	since the regional bank crisis, that's saying something. Now, this can still be taken, I think, one of two ways.
1:29.0	It can be a correction in a bull market or it can be the beginning of something bigger.
1:32.8	We're starting to hear a lot of chatter about this is a growth scare.
1:36.1	People are starting to get worried about growth.
1:38.3	I want to push back a little bit on that and just be really specific.
1:41.6	As somebody who follows all of the macro stuff so closely,
1:45.3	there is really not a growth concern right now. The consumer has still been spending.
1:50.8	GDP is still tracking strong. Retail sales that will feed through so far from July into
1:56.3	third quarter GDP are promising. So I wouldn't call this necessarily a growth scare in the correction
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