After 419 days of the highest interest rates we've seen in the last two decades, and 916 days after starting the fastest rate hiking cycle in American history, interest rates were just cut by 50 basis points on Wednesday, the higher end of expectations. Now, as of the end of the prior week, expectations did suddenly flip to, you know, an enhanced probability of 50 basis points odds.

Welcome back to another edition of the Daily Peelous Daily podcast of the day.

Thank you all for joining us here once again on this beautiful Wednesday, September 18th,

2024. My name is David. Great to have you guys here with us on this beautiful Wednesday, September 18th, 2024. My name is David.

Great to have you guys here with us because this was the big one. It was a big day today in

markets. And I think everybody here knows why the Federal Reserve has finally gone ahead with

their interest rate cuts. This is something that we've been looking forward to for basically

the last year we're shown now, and they finally done it.

So the big question in everybody's minds now becomes, well, what next? You know, this was the big thing that everybody was planning around, everybody was trading for. So what happens going forward? Well, stick around for the next couple of minutes and we will be sure to tell you in all the detail that you want. We're also going to be diving deep into some additional economic data that came out here today, specifically related to the housing market and how much supply is growing, what that means for housing affordability going forward. And of course, we got some big stock movers of the day, some more interesting names that we might be a little bit less familiar with, but definitely not less interesting stories going on. So before we go ahead and dive into all of that, let's take care of some of the high level stuff here today. The WSO Alpha portfolio, our proprietary investment portfolio, which you can all trade along with us at the Wall Street Oasis slash Alpha, I believe is what it is, maybe slash WSO Alpha, but if you Google WSO Alpha, you'll almost

definitely be able to find it. And I'm sure that you're going to want to after the insane outperformance that we've registered here today. So, on the day, the NASDAG portfolio, down her NASDAQ portfolio, the NASDAQ index, down 31 basis points for the session, the S&P 500, down 29 basis points.

Very strange, considering that a rent cut just came in,

but the W-Swath portfolio was down... session. The S&P 500 down 29 basis points. Very strange, considering that a rate cut just came in,

but the WSWF portfolio is down just a QA little four basis points, a relatively resilient day

compared to the indices. Meanwhile, small cap stocks, who, this makes sense, small cap stocks,

the Russell 2000 was up two basis points on the day. That's generally, you know, in line with what we'd expect on the day of a rate cut because small cap stocks tend to get worse credit rating. So when there is going to be a rate cut, it's going to have more of a kind of multiplicative effect on those because they're starting from a higher point, so they're going to be pulled down a little bit further. Their interest costs become a little bit more manageable. So it makes sense to see more of a reaction on the small cap side. Due to date, the alpha portfolio is up 11.48%. Still woefully underperforming basically every single important index that's out there. But trust me on this one, we just got to trust the process here. term our portfolio kills it if you take any kind of

like 10 month period besides the last 10 months we probably outperformed but you know that's the luck

of the draw they want to make it nice and difficult on us guess this is what they mean when they say

god gives his toughest battles to his strongest soldiers obviously this is what they were referring to

so rough day in markets are basically

an overall flat day despite the fact that the Fed was cutting. One of that was priced in already.

And that's what I mean when I say. Everybody is wondering what's next at this point. We'll get

into that in a second before we do some banana bits to go through first and foremost. Absolutely.

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