Slate Money | Markets Will Be Markets

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🗓️ 5 July 2025

⏱️ 56 minutes

🔗️ Recording | iTunes | RSS

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Summary

This week: The US stock market has reached a new all time high. Felix Salmon, Emily Peck and Elizabeth Spiers are joined once again by investments expert Barry Ritholtz who talked us through the market turmoil of Trump’s tariff spree back in April. Barry helps the hosts break down the behavior of the markets right now, examine the historical context of record breaking highs, and theorize why the price of the US dollar is still falling. In the Slate Plus episode: Should we just let kids have the summer to rot? Want to hear that discussion and hear more Slate Money? Join Slate Plus to unlock weekly bonus episodes. Plus, you’ll access ad-free listening across all your favorite Slate podcasts. You can subscribe directly from the Slate Money show page on Apple Podcasts and Spotify. Or, visit slate.com/moneyplus to get access wherever you listen. Podcast production by Jessamine Molli and Cheyna Roth. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Hello!
0:11.8	Welcome to Slate Money, your guide to the business and finance news of the week.
0:17.9	I'm Felix Salmon.
0:19.0	I'm here with Elizabeth Spires at the New York Times. Hello. I'm here with Emily Peck of Ax week. I'm Felix Salmon. I'm here with Elizabeth Spires. It's in New York Times.
0:21.5	Hello. I'm here with Emily Peck of Axios. Hello.
0:25.8	Happy 4th of July weekend. We are out rotting in the backyard. We have a whole slate plus
0:31.6	segment about whether kids should just rot away during the summer or whether we need to find
0:35.6	things for them to do. But also, happy
0:38.7	4th of July, because the stock market is at record highs. And so because the stock market is at
0:43.4	record highs, we have invited back the one and only Barry Rittles. Hi, Barry. Hey, Felix. Barry,
0:49.3	you were on a few months ago when things look very bad, stock market wise. Things now look much better
0:55.4	stock market wise. We're going to ask what has changed. We're going to ask whether all-time
1:00.5	highs are a bullish signal or a bearish signal. We're going to talk about the dollar. We're
1:05.0	going to talk about investment philosophies. And we are going to have a much happier time of things this time than last time,
1:12.8	because when the stock market is up, that just makes people for cheerful.
1:16.3	So stay tuned for a cheerful episode of Slate Money. It's all coming up.
1:31.9	When it comes to investing, we tell ourselves all kinds of stories.
1:34.2	One is that you have to dive in head first.
1:41.1	But when you invest with HSBC UK, you'll find a ready-made portfolio to match level of risk you're comfortable with. So instead of taking the plunge, you can test the water.
1:44.6	Hmm.
1:45.8	Search HSBC Invest to dip your toe in today.
1:48.7	HSBC UK, opening up a world of opportunity.
	...

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