Producer Prices Soar as Apple Loses 80 Billion Dollars In Market Cap

Real Vision: Finance & Investing

Real Vision

Investing, Business News, News, Business

4.1 • 1.1K Ratings

🗓️ 11 September 2021

⏱️ 34 minutes

🔗️ Recording | iTunes | RSS

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Summary

DB-Sep10,2021: On today’s Daily Briefing, Real Vision CEO and co-founder Raoul Pal talks with senior editor Ash Bennington about how his macro framework is evolving when it comes to the dollar, bonds, and crypto. Raoul and Ash cover today’s sharp rise in the U.S. producer price index and what impact this will have on the Federal Reserve. Ash reports on Apple Inc ($AAPL) shedding over $80 billion in market capitalization after an unfavorable court ruling threatens one of its most profitable businesses. And still to come on this busy half hour, Raoul gives viewers a behind-the-scenes preview of his new weekly show on Real Vision, "Raoul Pal's Adventures in Crypto," where Raoul sits down with the greatest minds to figure out just where this digital asset and crypto revolution will lead us all. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Welcome to the Real Vision Daily Briefing. It's Friday, September 10th, 2021. I'm Ash Bennington.
0:10.5	I'm joined today by our CEO and co-founder, Rao Pearl. Rao will be joining us in just a second.
0:16.8	But here's what we're looking at right now. PPI in that's producer price index. It's hot.
0:22.3	Final demand. PPI for final demand. It's up 0.7 percent month over month for August.
0:28.3	That's a smidge above consensus and at the top of the consensus range core PPI. This is core PPI
0:35.1	year over year 4.6 percent. This is X food and energy. Obviously base effects from a dismal
0:42.6	August 2020. Still something to watch as the Fed plans its taper. Apple ordered today by a court
0:51.0	to appear to allow developers to have them allow them to basically use their own payment
0:59.4	networks. This is a really interesting situation. So Apple has been able to have a monopoly
1:04.8	on payment methods in the App Store now for a very long time. Many years their profit margins.
1:11.4	There are 75 percent significant profit margins. Apple on the day off 3 plus percent. It looks like
1:20.4	it looks like 3.3 percent here at the close. Turning to U.S. equity markets across the board
1:26.8	indices down on the day. It looks like the big loser on the day is the NASDAQ off 0.87 percent,
1:35.6	just under 1 percent, to close at 15,115. S&P 500 also off on the day. Spot 7,7 percent closing
1:45.9	at 4,458. When we look across the week here, it's not been a great week for stocks. S&P down
1:54.1	1 is about 3 percent. The Dow Jones industrial average down 1.8 percent on the week. NASDAQ
2:01.6	off 1 percent on the week. Not a great week for crypto either we should say. Bitcoin looks like
2:08.1	trading here at 45,712. That's off about 1 percent on the day. About 9 percent on the week.
2:16.6	Still up. Fractually on the month about 0.15 percent. Your date up 57 percent. And for the year
2:24.0	up 340 percent obviously considerable gains if you got into the beginning of the year.
2:28.6	Same story actually when we look at Ethereum off on the day about 3 percent trading right now
2:35.3	at 3,320 a week to date. Not a good week off 15 percent. One month. Ethereum up 5 percent.
	...

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