The Ripple Effects in the Market with Stuart Sopp

RiskReversal Pod

RiskReversal Media

News, Investing, Business, Business News

4.6 • 757 Ratings

🗓️ 13 October 2023

⏱️ 48 minutes

🔗️ Recording | iTunes | RSS

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Summary

Guy, Dan, and Danny are joined by Stuart Sopp of Current as a special co-host for the full episode. The guys discuss mega-moves in the bond market (4:00), Bank of America’s Wrong-Way Rate Bet Hurts Moynihan’s Growth Pledge (7:00), hot inflation numbers from the PPI/CPI reports (11:00), Steve Eisman’s Fast Money appearance (11:15), the S&P 500 forward P/E below its 5-year average but above 10-year average (12:00), geopolitical risks (13:20), the hosts disagree on gold (15:30), why Stu is so worried about food inflation (24:30), Goldman Sachs sells GreenSky BNPL business (26:15), new SEC short-selling rules (32:30), mega-cap tech getting back on the horse (35:30), the IPO market (38:30), M&A (42:00), what Stuart is watching (46:00), and Danny’s NFL picks (48:00). Read more about Danny’s family history here About the Show: On The Tape is a weekly podcast with CNBC Fast Money’s Guy Adami, Dan Nathan and Danny Moses. They’re offering takes on the biggest market-moving headlines of the week, trade ideas, in-depth analysis, tips and advice. Each episode, they are joined by prominent Wall Street participants to help viewers make smarter investment decisions. Bear market, bull market, recession, inflation or deflation… we’re here to help guide your portfolio into the green. Risk Reversal brings you years of experience from former Wall Street insiders trading stocks to experts in the commodity market. -- Check out our show notes here Learn more about Ro body: ro.co/tape See what adding futures can do for you at cmegroup.com/onthetape. -- Shoot us an email at [email protected] with any feedback, suggestions, or questions for us to answer on the pod and follow us @OnTheTapePod on Twitter or @riskreversalmedia on Threads -- We’re on social: Follow @GuyAdami on Twitter Follow Danny Moses @DMoses34 on Twitter Follow Liz Young @LizYoungStrat on Twitter Follow us on Instagram @RiskReversalMedia Subscribe to our YouTube page

Transcript

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0:00.0	I drove in this morning, oddly enough, and I heard The Grateful Dead.
0:05.6	By the way, I'm going to start right off the bat.
0:07.6	This is the On the Tape podcast.
0:09.5	I'm Guy Adami, always joined by Danny Moses and Dan Nathan.
0:13.6	But today, Dan, we're joined by Stuart Sop, the co-founder of Current.
0:19.4	And we're thrilled to have him.
0:20.6	What better time to have him than now
0:23.3	with all the things that are going on. Yeah, no doubt. I mean, you are our landlord, so you
0:27.1	are the CEO of Current here. Now, but we're really interested in getting your take. We often do
0:32.2	this, you know, when it's inflation. We had Fed Minutes this week. We had obviously a lot of data
0:36.5	with that jobs data last week. We also had some consumer data from some higher-end consumer. So that is going
0:42.0	to be front and center for a lot of what we talk about. We've got a ton of single-stock stuff.
0:46.0	Danny's got some procedural stuff on the short. It's short rule is changing, Danny. This feels
0:51.1	like, you know, what, deck, September, deck 2008 a little bit for you?
0:56.0	It's not, it's a short reporting rule. Not so much the tick rule, but I'll get into it when you, you know.
1:00.5	We have a lot to get into. And it's interesting. I mentioned the Grateful Dead. Not that I'm a fan.
1:04.7	And on my 845 song Spotify playlist, I don't have any Grateful Dead songs. But oddly enough, and it made me think,
1:12.9	you know, it's interesting. I'm sure Jerry Garcia and his crew wore Birkenstocks back in the day.
1:17.6	That was a big IPO this week, not a particularly good one. I'm sure Danny has some thoughts on that.
1:23.5	But the song that I heard, Dan, was ripple. And here's a lyric, ripple in still water where there is no pebble tossed nor wind to blow.
1:33.8	And I'm thinking to myself, holy cow, Jerry Garcia way back when in 1970 on the American Beauty album, he knew, he understood markets because the ripple effect of what we're
1:46.0	seeing in a myriad of different things is playing itself out, Danny Moses, right before our
	...

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