What's up apes? Welcome back to the Daily Peels video stream of the day. You know, they say an apple a day keeps the doctor away. But yesterday, the story was an apple equal weight keeps the losses away. But unfortunately, we missed the memo on that one over here at the WSO Alpha portfolio. We did underperform for the day. We were down about 11 basis points for the session while the NASDAQ and the S&P were both up between 20 and 30

basis points for the session. I believe the S&P led the way up about 27 basis points because we are underweight Apple. It is one of our largest positions, but Jesus Christ, it's like 7% on the index. I think it's about 5% for us. So some of our losses to the downside pulled us down a little bit more because we didn't have that hot air balloon of an Apple overweight position keeping us afloat. So you went to me to lose some. We got a lot more to talk about here today. We're going to kick things off talking about the J-Pow solstice, the macro eclipse, whatever you want to call it. It's one of those magical days in financial markets where we're getting both an inflation report and a federal reserve meeting at the exact same time. So at 8.30 a.m. we're going to get the latest CPI report for the month of May. And then between 2.30 and 3.30 p.m. the Federal Reserve is going to be hosting its press conference. They're going to release what they're doing to rate the 2 p.m. spoiler alert. It's absolutely nothing. Everybody's going to be paying attention to the summary of economic projections. So we'll break that all down in just a quick second. And then of course, we will finish things up speculating wildly about what the next Nvidia could possibly be. So make sure to stay tuned for all of that. My name is David. It is currently 8.03 p.m. I know I look extra homeless today. I have been up since 3.45 this morning. I was going to say not to brag, but in absolutely no way at all is that a brag. So let's just go ahead and get right into it. Shout out to the Boston Celtics up 2 and 0 heading into game three. I was going to say tomorrow, but later today. Game three is in Dallas. So shout out to the boys in green. All right, anyway, let's move on to some of the banana bits for the session. So we own on the Paramount, or really Paramount's owner, Paramount's parent company, National Amusementments owned by Sherry Redstone, has been in talks to sell Paramount and all of national amusement potentially for quite a while.

Their number one bidder with Skydance Media, and we just found out today that the talks have

officially ceased between those two parties. So it's probably going to be that consortium led by

Apollo or maybe even some other investors that haven't come into play yet. But RIP to Sherry

Redstone and her possibility of getting a fat premium over shareholders.

So moving on to Oracle's earnings reports that just dropped here this afternoon.

Our responsibility today is completely ignore the earnings and make your intelligence artificial.

So not artificial intelligence, but just completely remove all intelligence from the equation.

Pretend like it's a good thing because they signed a few deals with Open AI and Google and they said AI a bunch of times during the earnings report. So obviously, the stock is up after hours. Meanwhile, Affirm shares were up during the day because they actually struck an actually good deal with Apple. It's basically embed their buy now pay later tech in Apple Pay. So it's going to get a lot more

volume there. I'm sure they're hoping for a lot more loan default so that they can actually make

money and create that ever so sweet shareholder value. Nothing more American than making shareholder value

or making money for yourself based on the mistakes, faults, financial calamities of other people. I mean, we absolutely love to see it.

Speaking of which, the refi wall, this is basically the idea that isn't be 500 companies are going to

have to refinance at the highest interest rates they've seen in more than two, maybe even three decades

for a lot of these companies as well. That is starting to approach according to Morgan Stanley. So definitely check out that stuff to stay in the loop. But okay, let's go ahead on to the J-POW eclipse. So what we're talking about here is, of course, the release of both the Fed's latest, well, really all three. It's a release of the May inflation report. It's the FOMC's update to interest I'm not going to do anything. It's not going to be a cut or a hike. But we're also going to get a summary of economic projections. So it's those three things. Inflation, interest rates and summary of economic projections. Let's go ahead and talk about how it's all going right now. So the most important thing to check out, at least, you know, to get us kind of in the right mindset here, because this is all going to be released by the end of the day today.

But what's important to understand because there is going to be a reaction regardless of what happened.

So in order to understand that reaction when it happens later today, we want to understand the context going into the session.

So if we take a look at this chart right here, this is the future interest rate

futures market implied probabilities of a rate cut or a series of rate cuts happening by a certain

date. Now, this particular chart that I've chosen to show today is for the September 18th,

2024 meeting of the FOMC. So what you're seeing right here in these blue bars is the probabilities

...