E258: The Daily Peel | Chengpeng Zhao's Binance Scandal
Wall Street Oasis
Wall Street Oasis
4.9 • 534 Ratings
🗓️ 23 November 2023
⏱️ 22 minutes
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| 0:00.0 | All right. Well, good morning once again to all you beautiful apes out there. |
| 0:04.2 | Thank you guys so much again for joining us here on the live stream. If you are listening to us on the live, if you're listening to us afterwards, hope you're having a great day too as well. But you won't be able to see here what I got behind me. You know, as you guys can see, we prepared a lovely Thanksgiving meal. I was able to snap some turkey necks, feed the family for the year. we'll see what happens next year, but for now we're vibing with it and we definitely don't want things to change. Obviously, what we're doing here is getting into the Daily Peel from yesterday. That's going to be the addition for November 22nd, Wednesday, November 22nd, that is. It is currently 1030 a.m. Eastern Time right on the dot. We're going over all the best news of tomorrow that's impacting markets today. We got a bit of an uptake at the open here, but things are starting to get a little bit rocking now. Definitely going to want to stay tuned and see what's going on. Obviously, it's not a big news week, given that it's a holiday week and everything, but we'll still keep you updated, still keep you entertained on all the most important things going on. We did get some crazy action going on yesterday. Obviously, the most important stuff was some updates to Open AI, but there were some crazy stuff going on in the world of cryptocurrencies and digital assets and all that stuff as well. Trust me, it's even crazier than the usual stuff that goes on over there. We'll get into it in just a couple of minutes here. But before we do, obviously, we've got to move over into the meme of the day. Now, I thought this was just an absolute work of art from the people over the Wall Street Awaysis Instagram. These people really are meme artists over there. And as you can see, being on the cover of Forbes is basically a death witch for all kind of tech CEOs. |
| 1:44.9 | We got Elizabeth Holmes. We got Sandbankman Freed. Now we got CZ, the former hero of crypto who was thought to have brought down FtX. He's just as big of his scumbag himself now. Only thing is, he's probably not going to see jail time as much as many of us would like to see that. And then, of course, we invests invests with being named one of the best banks in the world in the United States, excuse me, in 2022 or 2023, the exact year |
| 1:51.4 | that they happened to go bankrupt. I mean, you couldn't write like a comedy novella or a comedy |
| 1:56.7 | play or anything that would sum this up. So it's just really poetic to see that. Fate really |
| 2:00.6 | does love irony. And Elon's definitely run on the sum this up. So it's just really poetic to see that. Fate really does |
| 2:00.9 | love irony. And Elon's definitely run on the money about that. So officially being on the cover of |
| 2:05.6 | Forbes is basically the equivalent to the Madden Curse, just for tech CEOs instead of NFL players here. |
| 2:11.4 | But now that we're past the meme of the day, we can go ahead and get into things. What are we talking |
| 2:15.3 | about today? So first informants is going to, some Fed meeting minutes. I'll try to make sure we don't all collectively fall asleep once we get into that, as it was really the most boring Fed minutes anybody's ever seen. We got a bunch of retail earnings today. It was a retail of two cities, if I don't mind myself. And then, of course, finally, we got some news with Binance, or as certain people like to call |
| 2:37.4 | it Benance as well, but we'll get into that. |
| 2:39.5 | Don't worry about it. |
| 2:40.8 | Now, yesterday was a rather sporadic day for markets. |
| 2:44.0 | It was a bit of a light red day. |
| 2:45.4 | Most indices were down here in the U.S. |
| 2:47.7 | The Russell took the hardest hit, losing 1.29%. |
| 2:50.4 | The Dow's 8.18% loss was basically the, it was the top performer of the day. |
| 2:57.3 | Did happen to beat out our analysts over at WSO Alpha. |
| 2:59.9 | No surprise there. |
| 3:00.8 | Those guys are something else, and they lost about 34 basis points on the day. |
| 3:06.0 | 10 years sitting right around 4.4%. Two years at 4.9. Still heavily inverted. We'll be following that until it stops being inverted, and we'll definitely keep you updated on when, and if that ever happens. And we did get some big earnings reports yesterday as well. There was a lot going on. We didn't necessarily get a chance to talk about it or get into it too much in yesterday's edition, but that's what's going to be coming out on Friday. Oh, which reminds me, no addition tomorrow as it is Thanksgiving Day here in the United States. So be on the look up for Friday's update. Will we go in live then as well? And definitely some good stuff to get into, probably in the video's earnings, which went exactly how you would expect it to. They absolutely knocked it out of the part, |
| 3:41.0 | tripled revenue from last year, but stock didn't really get much love for it, at least in the after hours of market, and especially this morning, just given that the expectations were so high behind this name. Now, speaking of Open AI and all that drama, The Wall Street Journal did go deep into the board members who made that happen. Really interesting story to cover there, but the most interesting piece was our boy Ilya Sutskiever. |
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