Markets Push Back the Powell Pivot – Ep 835

The Peter Schiff Show Podcast

Peter Schiff

Business, Politics, Business News, Investing, News

4.7 • 5.8K Ratings

🗓️ 21 August 2022

⏱️ 57 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

· 4-week winning streak for S&P comes to an end.
· Investors chasing momentum.
· Not-as-weak is the new strong.
· Mortgage applications at their lowest since aftermath of dot com bubble.

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Transcript

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0:00.0	Today's podcast was recorded yesterday.
0:02.9	If you want to listen to my podcast, commercial free, the day that I record them, go to
0:07.8	shifradio.com slash premium.
0:10.4	It only costs $5 a month.
0:15.3	The Peter Shif Show.
0:21.4	Today's podcast is sponsored by Raycon.
0:23.8	With Raycon, you get the same high quality audio as other premium brands, but for half
0:28.5	the price.
0:29.5	The buyratecon.com slash goal to get 15% off your order.
0:34.2	Today's podcast is also sponsored by Shopify.
0:37.2	Shopify is a platform designed for anyone to sell anywhere, giving small entrepreneurs
0:42.2	the resources once reserved for just big businesses.
0:45.4	To get a free 14 day trial and full access to Shopify's entire suite of features, go to
0:50.5	shopify.com slash goal.
0:53.2	A four week winning streak in the S&P 500 finally came to an end this week.
0:59.7	As a matter of fact, going into the last trading day of the week, the S&P 500 and the Dow
1:05.0	Jones were still positive on the week.
1:08.1	But a big sell off on Friday reversed the gains earlier in the week.
1:13.4	The Dow actually was the strongest of the indexes.
1:17.0	It was only down about 55 points on the week following in the year 300 point fall on Friday.
1:24.6	S&P down a bit more, down 1.2% on the week.
1:28.8	But again, all of that loss happened on Friday.
	...

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