Foreign to deliver us. Thank you thank you sir. you're a son dude yo sir. foreign.

Happy Inflation Day Soccer! Oh I'm late You think I Care you think I Cara was late seems like a you problem brother seems like a you problem. Uh well make sure you have on your proper safety equipment today folks because it is going to be a wild day. I Recommend the appropriate eyewear because in around five minutes five minutes time we will be receiving the next inflation report and things are going to get a little crazy. I Wouldn't want you guys to also suffer from some dry eyes so I would recommend any and all appropriate paraphernalia to protect yourselves.

Looks like IEP is cracking I don't know if any of you are doing the whole uh anti icon play but looks like it's cracking in pre-market right now. Went from 38 down to 35. Down to nice I don't know. Nine ten percent.

Um man oh man oh man I hope you guys are ready. it is Wednesday it is May 10th. This is Matt Core's live I'm Matt Cores you're the live and it is Inflation day We're talking about pal. We're talking about CPI tomorrow's PPI We're talking about the debt ceiling We're talking about Tucker making a big announcement.

We're talking about Trump's big legal debacles now. lots of earnings. We're talking about the Spy maybe going up, maybe going down. We're talking about potentially a banking crisis or a continued banking crisis.

We're all over. We're all over happy Inflation day, but hey, you know what a real positive of today's do you guys know what the real positive is? we're going to get to hear from Rick Santelli Rick Centelli will most likely be the man delivering the numbers and when obviously I know chat. We all get a little excited when Cintelli comes on. So I'm I'm pretty freaking stoked about that.

Pretty freaking stoked about that. 8 30. folks, we have about four minutes and what you need to know the CPI reports coming out. This is a very, very strange, strange timing because actually we're going to get the PPI report tomorrow.

we're going to get the Consumer Sentiment report on Friday. But here's can I blow your mind. Can I blow your mind Right now, we're actually going to get another CPI report before the next Fed meeting. So the next Fed meeting is in mid-june and literally the day that the Fomc meeting starts, we're going to be getting another CPI report.

So a strange situation here where even though the Fomc meeting the Fed rate hike or cut or whatever Hold Steady meetings. uh, they're going to be back to back here month over month basically. But we're going to get two CPI readings. Uh, so obviously they're gonna both be important.

but I mean CPI days Fomc days. They are both just absolutely chock-full A crazy volatility. Crazy. Insanity So I Want everyone to be prepared.

Generally, on these types of days, there's a lot of fake outs rips to the upside that get rugged or huge drops that then just bounce hard and go even higher. So be prepared. Um, I'm still holding my core positions I Don't have any short-term things right now I have things for mid-may and I have things from mid-june In terms of the options Market Uh, but I'm I don't have anything that expires today I don't have anything that expires Friday I'm giving myself a bit more time just because we've been in a very strange whips all scenario. Now what you need to know for this: CPI Report: Don't you guys worry? I Got the median expectations for you right here.

Foreign: CPI Year over year they're looking for five percent estimations are basically coming in at four point, nine, five, and five one with the median being five month over month, are looking for an increase of 0.1 percent in terms of core. CPI They're looking at 5.5 year over year with a month over month increase of 0.4 So CPI 5 and 0.1 year over year, month over month and then for Core 5.5 and then 0.4 Those are the expectations as of now. If we come in hot, if we come in like a hot tamale, if we come in as high as Snoop Dogg himself. look for the market to sell pretty freaking hard because it'll be interpreted as an increased in chance in the likelihood of the FED raising rates.

once again in June If we come in at expectation, it kind of depends on some other factors and then if we come in cool, like I'm talking arctic tundra cool. If we're coming in low, look for the market to pop High number most likely bearish, low number, most likely bullish. but obviously there are a couple of variables. A couple caveats to that, so we're gonna have to wait and see, but that's where we're at as of now.

We're about a minute out and I just want to quickly let you guys know, Even though things are going to change quite a bit between now and then, there's about an 80 chance right now. the bond market really yields our pricing in in 80 percent chance at that June meeting, which is Wednesday June 14th that there's going to be no rate change whatsoever right now. The odds are telling us no rate change in the June meaning, so keep that in mind. But I assume these numbers are going to change quite dramatically in a few moments, so let me switch it up for you folks.

All right, let's get going. Let's get going. It is all right. Let's just turn this on.

You're prepared for what they're not. Get ready. Get ready for this kind of stutter step in the disinflation process that we've been talking about. I Think brother, what's your best votes? We don't know what you guys vote.

Red or green seconds ago, seconds to go red or green before the next fed meeting. So I don't necessarily know the numbers for something a little less friendly. So if we get remember a lot of the times the first move is the wrong move. the fake out ahead of that number s p indicated off by about four points Dow futures off by four the NASDAQ up but just fractionally maybe about two points there.

Right now, it is time for that. CPA CPI number Rick Santelli has it Rick Rickson Chat yes sir April Reed On the Consumer Price Index headline number expected to be up four tenths is up 4 10. All right in the quarter Mark there was up 1.2 that was back in June of 22. 2.

if we look at X food and energy or core, it is also expected to be up four tenths and it is up before time. Okay there. Well that was up eight tenths in April of 21. And if we look at the year over year numbers 4.9 Oh, came in cool year over year came in pool it has gone down since 9.1 extreme in June of 22 which was the extreme since 1981.

And if we look at Corey over here, that's why we're up right now. I'm exactly as expected and a high water mark there I can't even load it. the Bureau of Labor Statistics website is busy. refresh the page and try again.

I can't even get on the website. There we go and that is where the stickiness is. There isn't stick. 4.9 year headline.

The stickiness is in the core if you just look at them. Three or four months we have came in a little cool today. That's why the Market's up right now. 5.5 Before that, 5.6 in Jan 5.7 in D's then in November you're at six percent.

That's where the drop-off started. So there's the congestion. but the markets are weighing in very quickly here. Piano rates are moving down.

Two-year rates are moving down. They're 3.95 they were at 405. They're down 10 bases. But points, We're down about five basis points in a ten year, and we've rallied nicely in the pre-opening Dow Futures Now up a hundred points.

So the market is speaking and it certainly doesn't seem to be bugged At All by the year-over-year core panel. About that, right? Rick Let's bring in some of the rest of our panel for some instant reaction to that number. Tyler What do you think that was not hotter than expected? in fact, in some cases, a little weaker, even the year over year. If you're looking at the headline I think the year over year was weaker and I suspect a lot of people like myself have been looking at the Cleveland Fed now casts which were suggesting a hotter than expected number.

So there's probably a bit of relief that it came in with consensus, You know, and in terms of causes for worry, a lot of this still looks like it's driven by energy. Disappointing the the shelter was still up 0.4 a month over month. A lot of those core Services seemed like they were still up. It was new cars.

It was energy that were really dragging things down. but yes, relief that it didn't come in hotter than expected. Betsy How about you? I mean this is got to hang your hat on something. And if this is something that we've been hoping for, you know, hey.

I I Think when when the data delivers at expectations, you know it's a pretty good day. Everybody sort of knew what to expect and that's what happened. I mean look, used cars exactly? Gold's going up interesting 4.4 for the month like we knew that was going to be hot hot and I think it's even. On the plus side, what we saw is shelter inflation coming down a tiny bit.

and I that's really cool. We're gonna do a pretty good job. Everyone's been looking at shelters and I think that we're going to see that shelter inflation continue to come down over the next few months. So I do think that this report says that we're on the path that we need to be on.

It's definitely slow, it definitely has some bumps it can hit along the way. But I think that the FED should continue to feel pretty bullish. that their plan is working inflation down rapidly overnight because of the damage that could do to the economy. Their plan is to try to slow in places we're not out of trouble yet, right? This is the idea that it's been moving a little bit sideways in in recent months, but I think there's a lot of signs on the horizon that it's going to come down further in the coming months.

and Mike that's certainly the Market's reaction. Whether you're looking at equities or the yields for the tenure, I mean that's what the reaction is. Okay, maybe the FED is is going to be able to say look at that. Yeah, and you know inflation has already been sort of moving down the lists of things we're most afraid of or that we spend most time worrying about.

I Think you know as we deal with credit contraction from the bank stress and wonder about these leading indicators of recession. So now big picture we have: the FED funds rate is now above the rate of headline CPI Okay, we're a bit above five percent on Fed funds. It seems to clear the way for at least to file the FED pause. Uh, you know in that that list of things that maybe so all that stuff works together and then because inflation is still at this level and this kind of helps explain why gold properties have done okay.

it's part of the reason. Anyway, you have nominal GDP growth I don't know, just call it six percent even if we have slow real GDP at this moment. So I think that sort of helps you on the top line for the overall economy, which is what companies are feeding off of. So yeah, it doesn't solve all the problems.

We know that the the credit contraction is a probably disinflationary process. If it really does start to kick in so it feels like we're we're on on the way to being able to get beyond the inflation fixation. In fact, the market reaction over the last few months to the CPI number and Pce numbers has been slightly more muted. It does not seem like that big spring-loaded number that we've got used to in 2022..

hey, Rick We didn't get a chance to see what's happening on on the shortage. what's happening right now. Everyone better be typing Rigs and chat. show a little bit of respect for the man I'm watching it I watched we're in the five years one month Bill All bills though are pretty much in an elevated Pace Once again.

Mike Said it's an interesting situation to finally have the FED fund future range above inflation and I would say Fed fund future range is what T-bills are paying most attention to. and I think the evidence of that could be that if this was one of the debt ceiling issues, believe me I'm sure death ceiling fingers into T Bills to some extent, but that number on the screen within the marketplace and I'll give you one step farther. How many guests? Becky For the last several weeks and last week especially were watching Treasury yields for flight to safety due to banking issues. We can't have it both ways.

You can't have one hand to have flight to safety and treasuries. and on the other hand, try pointing to treasuries as validation that the debt ceiling is keeping rates too high I Don't know I think the debt ceiling has to factor into it at some level. I Mean if you were looking at 5.8 plus that you could get last week for the one month I Mean that does make a team if it's expiring on June 3rd or June 6th that that happens, there's an effect. There's definitely an effect.

But if somebody came to another planet that these markets looked at fed funds looked at the fact we just raised rates on the third, another quarter point. I'm not sure that the one of the first two or three things they would come to is that there's an exogenous Force exerting pressure. Let's say what's the next thing that we need to watch the next day at a point? PPI Tomorrow I'm just gonna say no. The challenge was looking at Treasury Bills forces exerting pressure.

They're just exerting in opposing directions and that's why you're not seeing much, right? We have flight to safety. Um, and then actually flight away because of the debt ceiling and those two Market pushing strong against each other Exactly. And then of course we're going to be looking again at that jobs number. I Think the real question here is is what's really happening with wage inflation I'm starting to see that that's moderating and I think that's going to be really important for wage inflation to moderate in order reported year-over-year decreases in Q1 to EPS results right now.

Got some another big interview and Andrew has that so we want to send it right over to him. Andrew Good morning, good morning Max Thanks The Federal Trade Commission Uh. Calling forth scrutiny of companies that are developing artificial intelligence Technologies In an op-ed, uh, just last week at the FTC chair Lena Khan Warning about what she calls quote, the expanding adoption of a AI risks risks further locking in the dominant the market dominance of large incumbent technology firms. We want to talk about that and more joining us right now in an exclusive interview with deputies.

All right, we don't need that for now. We could come back to it. We could get a summary later, but uh. I Don't want to talk about AI right now.

All right. So the Tldr of this situation is this: the CPI highlighted on the screen? This top number right here came in at 4.9 percent. The expectation was five. inflation came in cool.

That is considered to be good. Obviously, inflation is coming down more than expected. The market is popping on that month. over month it hit expectation and then if you look at core CPI as in excluding food and energy, it came in at expectation.

So most of the report was at expectation. but we had one of the major numbers come in a bit cool and obviously the Market's popping on it and then some people refer to this as the I believe the super core CPI But basically also looking when you like kind of like exclude shelter shelter coming down as in not increasing as much so people liking. Finally, that's like one of the biggest drivers right now in inflation is shelter. Uh, so it's nice to see that be coming down as well.

So overall, pretty good numbers. Uh, people are obviously stoked about that. That's why you're seeing the market pop right now. The Spy up the dollar down, gold popping Bitcoin popping and then also East popping as well.

Is this in any way a guarantee that today is going to be a phenomenally bullish day? No, it does increase the chances of it because we did get legitimately good news. But I wouldn't stand here and tell you like, Oh, definitively, we have to go rip city. Like the amount of times that we've seen a really good report and it gaps up and then sells off all day. Or sometimes it's a bad report, we're down and then it rallies all day.

So there's no guarantee that this has to be good. but I would say Obviously The odds are kind of pointing to that because this is a legitimately good report. so that's what's going on with inflation. Happy Inflation day! Uh, if you guys have calls, I mean the opening is going to be looking pretty nice for you.

For me, one of the major things I'm watching right now actually is IEP the icon. So Carl Icon: Uh, recently fighting with all the people at Hittenberg Research Uh, closed out yesterday at 37.97 currently trading at 33.71 it is down 11 in pre-market IEP Getting crushed and it most likely relates to this right here. Icon Enterprises Reported quarterly loss of 75 cents per share. That is 171 decrease over earnings of 1.06 per share from the same period last year.

Icon Enterprises Shares are trading lower after the company reported a year-over-year decrease in Q1 EPS Result: Their earnings report is out, but their earnings call is at 10 A.M today if you guys want to listen to it, obviously we can, but the earnings call is at 10 am, but the reports obviously already out and that's why you're seeing IEP get crushed right now. Um, I have two different Lotto positions going on on IEP and obviously I'm going to be very happy with them at Open. but in reality What I'm Looking forward just to cover this in case you're playing IEP I'm looking forward to get below and stay below 34. once again, right now, in pre-market action, it is trading at 33.50 So I want it to be below and stay below 34 and then after that, uh, the same argument to be made at 30.

I wanted to get below and stay below 30 and if it does that, I think there's going to be a waterfall effect, a capitulation effect down to 20. I might be right. I might be wrong. I'm just letting you know what I personally think as I have some 30 strike yellows and some 20 strike yellows.

the main play on IEP I already did on this day and I collected profits and then I just took some of my profits and rolled it into a YOLO position. Uh, some 20 strike puts some thirty dollar strike puts all expiring on May 19th. whatever the the main monthly is I think it's May 19th. Let me just double check that all for you.

Uh, May 19th. So basically in a week and a half so if things get crushed today, I'll probably take all the lotto like profits really. Uh, but I I bought a bunch of cheap cheap puts that I hope. Um, I mean obviously I had some on this day.

Thursday then I got a couple more on Monday so the Monday one should be up. Nice. I'm hoping the Thursday ones are back to break even, but we can check on that when the Market opens. So I just wanted to cover that.

Uh, just now. The other major news. Wow. the Spy is still going.

Look at that. the Spy going and from 4 10, 50 up to 4 13 almost 4 14. Wow if this keeps going just so you know, a break. Above This high on Friday I Covered this in my update video yesterday.

Not that many of you watched it and it doesn't make me mad. it just makes me really, really sad. and it's part of the reason why I cry myself to sleep every night. But whatever if you don't watch the update videos, it's just a lot of emotional turmoil and baggage for me.

but we don't have to get into that. I'll talk about my that with my therapist later. But anyway, if you can get above and hold above this Friday High 413.72 Once again, 4 13 72 pretty much the level we're at right now on the Spy the S P 500 if it can get above and hold above I mean I'd just be looking at this: Gap though there's a gap from Monday to Tuesday May 1st to May 2nd Upside: Gap fill to 4 15 27. once again, an upside Gap filled to 4 15 27 In my book, That becomes a very real play if we get above and hold above 413.72 in Easy Upside Gap Fill Play And right now I do want to remind everyone just because things are great right now.

That's not a guarantee that they have to remain great, but based on the news we got I Do think today is going to end up favoring the Bulls That's obviously my opinion. We've seen crazier things happen. But my opinion on the day now is that the Bulls are going to have a pretty pretty good day. But let's pay attention.

Uh, we know that there are some other speeches and stuff going to be had later on today, so we can Circle Back to that. but I just want to cover this in real time with you Gold Ripping Bitcoin Ripping Spy ripping Dollar, dying things are looking good. wait I guess now I Have a question for all of you, how many of you in here? Let's give a round of applause to all the people who crush the calls. how many of you swung calls in today on the overall Market uh I personally didn't but I would still love to, uh, acknowledge and applaud.

uh. all the people who are absolutely crushing it right now. Who who in here I know there has to be some Djends that get got calls Nick did witness me, did uh uh, saw John I'm probably butchering your name. My huge apologies lip sir, you're getting crushed like me Justin Congrats I Did however wish I could have big sigh of relief I Did Meta calls calls? Congrats Seriously.

Uh folks, this is why we do it to see if we can learn a little bit off of each other, share ideas. This isn't meant to just like perfectly be copying. but hey, I even though I I mean I'm crushing it on IEP I'm not crushing it on this buy. So I'm hoping the IEP gains are better than the Spy losses.

Uh, but seriously, uh. massive congrats I I Mean it. Uh, you took a risk and it paid off. You deserve an Applause I mean even Bitcoin bouncing is Pepe bouncing back Now Is this given some life to Pepe Even Pepe's starting to make some movements to the upside.

So even the Pepe d-gens are having a good day. Man, everyone's having a good day this morning. Well here let's talk about everything else that you need to know. We have to talk about some earnings.

We have to talk about the debt ceiling and all that good jazz. Dow Futures jump after better than feared April Inflation report came in at 4.9 CPI Year-over-year expectations were five. Now the Market's going up because inflation is coming down better than expected as of now. I Guess Yellow? no Dow SMP NASDAQ when I saw a little Reddit like that doesn't make sense um I'm actually surprised oil is not going up a little bit more right now it is at 73.56 Oils had a nice bounce recently.

but anyway, green green oil trending back upwards and yields coming down ever so slightly. Now, even though we're seeing a crazy push to the upside in the markets right now. I Do want you to know that for the longest time, this particular day may be slightly favorables like nice Equity Trend To the upside. but over the past couple years it has been a pretty serious sell-off.

so I would say it's slightly leaning bearish. The Bulls have won 56 percent of the time, but the times that the Bears have won, they've won pretty handedly, especially over the past two to three years. So that's the seasonality of today. Slightly bearish, but nothing nothing too insanely wild.

If you want this type of information for free, I'll put it in your email box. just get on the email list or go to email Matt Cores.locals.com it is in the description of the video Druckenmiller says U.S is on the brink of recessions. he's hard Landing Drunken Miller is a pretty respected guy so I just want to give this a quick, quick listen before we get into all the earnings that came out last night and this morning now. Stanley Drucken Miller says the U.S debt crisis is worse than he imagined and that the FED is fueling.

Reckless Behavior In a speech Monday at USC's Marshall School of Business the hedge fund investor said quote the fiscal recklessness of the last decade has been like watching a horror movie unfold. Joining us now is Dana Al Baltagi Bloomberg Managing Editor for Credit and Dana I Thought it was also interesting that he said, you know, watching the debt ceiling debate, it is like worrying about a 30-foot wave when there's a 200 foot tsunami coming in 10 miles behind it. I Think he's absolutely right in describing it that way, because at the end of the day, will the U.S default? No, it's not going to default, But you do have a fiscal problem here. Of course you've got a massive debt pile and you have to start to worry about income.

That is what he is talking about. And of course, as we know, a lot of governments within the G10 are not very efficient. Efficiency is a huge issue across the board. They do have to look at how they can cut costs.

That's going to be extremely painful, especially since we are looking at the possibility of an economic recession globally. All right. so that's a fair point of what we should and shouldn't be paying attention to. And just because they were talking about some of it.

First of all, mortgage demand surged after Fed signaled potential pause in rate hiked. Now with that inflation report, most likely the chance of a pause at the next meeting, the odds are increasing the fact that inflation is still successfully coming down. There's I mean the odds I Don't know if they've updated them yet, but I would expect the the number on the left 80 to increase. Let's see if they actually even updated it.

Yep, up to 81 I Think it's actually going to end up going even higher, especially if the PPI report comes in a little cool and then if the next CPI report also comes in cool. I Mean there's no real reason they would have to hike up rates so just wanted to share that uh, mortgage and demand coming back because we might be at the official end of this rate hike cycle. But one thing that a lot of people are paying attention to is exactly this: debt ceiling deal appeals appears to be no close. uh, no closer after high stakes meeting.

but leaders will huddle again. Friday So at I think it was either four I think it was at 4 pm yesterday. The four main lawmakers uh, the Top Dog and the second Top Dog in both the Senate and also the house met with Biden and apparently they didn't really make much Headway whatsoever. And this is all about the debt ceiling.

Basically, the Republicans will give an increase in the debt limit if they also within that bill have contingencies on cutting spending. On the other side Biden and his colleagues, they want just a what's referred to as a clean debt ceiling increase as in nothing else associated with it that has happened in the past. There have been clean raises in the past. but that's more of a rarity.

Uh, we were looking into it. out of the last 11 rate or excuse me, debt limit hikes to the ceiling push going up and up and up. Uh, eight of them have had some sort of other aspects like included in it. mainly really regarding spending.

So that's the big fight right now. And allegedly, if you believe the Treasury Secretary, we're going to run out of money on. June 1st that's why it's a big issue. the U.S has never defaulted before.

If this isn't figured out by June 1st there's a good chance it'll be the first time in U.S history that we default. and if you want to know what that means, that's exactly what I covered in the update video yesterday, so feel free to check that out later on. Uh, we'll come back to that. I do want to cover this body McCarthy Val More debt limit talks as U.S default Looms Today here they are: Jeffries McCarthy Folks, what's he say? I'm sure that um, my colleagues and I and I was saying things to do after this is all over, but in the meantime, just you need to up the audio.

how can we let you know we're doing? We're not going to take any questions now, we're going to get started. We're going to solve all the world's problems. Mr President This is so awkwardly standing there is anyone surprised that they didn't invite me. I Feel like I should be sitting in that other chair.

Really help facilitate the debate and argument. Thank you thank you thank you thank you. We're taking no questions at this time. The first thing they all do is just shout questions so that's where it was at as of yesterday.

Apparently they're not anywhere close to where they need to be, but they will be meeting once again this Friday and then also on Friday. That's the day we get the consumer Sentiment report and on top of that, there's going to be a panel of two different fed speakers. So a couple things going down on Friday And even though it doesn't necessarily relate to the market I Feel like I should use my platform to inform you that don't forget Sunday is Mother's Day and maybe your degenerate training of zero DTE options is. You might think of that as the major problem in your life.

But if you forget Mother's Day that will become the major problem in your life. This Sunday is Mother's Day Don't forget, you're gonna have big probs if you figure that way bigger than your trading. So like let's just put that out there this: Sunday Mother's Day Do Not forget. All right so we know about the debt ceiling.

We're going to come back to that. We have some a big update on Tucker Carlson apparently launching a show on Twitter We will be coming back there. But first, let's rip through some of these earnings. So yesterday after the market closed, Airbnb drops 10 after earnings report offers cautious outlook for the second quarter.

not so good for Airbnb Rivian actually did pretty well. Rib Roon reports a narrower than expected quarterly loss reaffirms EV production Target So Rivian, right now up in pre-market Twilio stock falls on weaker than expected revenue forecast. A little bit of weakness in a Tech play, which is kind of odd because recently Tech plays have been absolutely crushing it. Wind Resorts delivers the quarter we've been waiting for bolstered by China So when gambling, crushing it.

Now after if this loads after the market closes today, we will be hearing from Walt Disney Disney World as CNBC refers to it the Mouse House. So Disney is going to be the last major Mega cap report of this particular earnings season. Obviously there are other reports like Krispy Kreme Donuts Always like to know what's going on in the world of donuts I Love donuts. Huge fan, but there are obviously more coming.

but this is going to be the last major Mega cap report so that's one to pay attention to. Today it will be interesting to see what they do or don't say about what's going on with the santis and also now what's going on with the writer strike so they have some extra things that might just be interesting to listen in on. So I want you to know about that? There is one more major earning this earning season Then tomorrow we have the PPI report the producer price index report on Friday We have the consumer sentiment. Then there's obviously things going on on the political sphere, what's going on with the debt ceiling, and we also have a handful of different Fed speakers speaking.

Monday and Tuesday of this week were a little boring. Obviously the volatility was there intraday. There was some whipsaw, but on the daily chart Kelly Ripa would never drop her pen. This is why I don't get invited on any of these morning shows because they all look at me and they're like Matt the pen dropper.

This is why I don't get my own syndicated show on all platforms on all the worlds Because the people who get those kind of jobs, they have their life together. They don't drop pens. They can so confidently hold their pen the entire time they're talking and here I am just looking at my pen all the way down there on the ground. Well folks, a part of me just thinks we should end the show today.

like just completely. We'll cut it off now and that could be the last. That could be the last you've ever hear of. Old Mac Cores The guy who called it how he saw it.

What a weird way to end. Like imagine if I actually did that. They're like, yeah, he dropped his pen and he turned the show off and we've never heard from him again. We just that just disappeared.

He rolled off into the sunset. What was the CPI report? Uh, it came in a little cool and that's exactly why the market is ripping to the High Heavens Oh that pen. that pen. that pen that pen.

Five things to know before the Stock Market opens today: Wednesday May 10th Let me give it a Reload I bet they put some stuff into it. Where do we go from here? Well, apparently the quick answer to that is to the upside: the spies at 414 Bitcoin holding above 28k gold at 2050. not at an all-time high, but gold is definitely getting there and the dollar is absolutely vomiting. So things apparently Where Do We Go From Here North push it to the Limit debt limit debt ceiling.

No real progress yesterday. they will be having another discussion Friday of this week the 12th Disney On Deck As I alluded to the last major Mega cap report after the market closes today, decent report for Rivian, kind of bucking the trend recently. Ev's not been looking so hot. plug missed loose and missed.

uh Tesla's even been coming down a little bit after a gap up. but now Rivin actually looking pretty good. So riving once again, bucking the trend uh up in pre-market right now and E Gene Carroll triumphs in court. We have a little bit of an update there: Trump Liable for sex abuse must pay 5 million to Carol So this was decided yesterday I think the result came out at 3 pm ET that Trump um I guess now has to pay a five million dollar fine? Uh to Carol Here's the quick: Bloomberg update on that, but we do want to give you an update here on the former President Donald Trump and the trial the Civil Trial brought by Eugene Carroll Uh, an allegation of a rape Several decades ago.

we have now learned that there has been a verdict in that lawsuit and that former president Donald Trump has been found liable for sexual assault in the E Gene Curl suit that is the main headline crossing the ryer wire right now, our legal reporter Greg Farrell joining us right now for a little bit more insight as to what exactly is happening Greg and more importantly, what the consequences might actually be. Well, it's um, the juries just ruled as you said, and they're awarding two million dollars uh as a basis. Uh, point to Eugene Carroll in her suit and she accused Trump of raping her, an assault um, and uh and harm. He was found not guilty on the rape part, but on the assault he was or not guilty is the wrong term.

It's a civil suit liable if I'm liable for that. And it was just for the sexual assault. Yes, exactly. So with with Trump it's been priced into it for years that he has a history with women.

but an actual finding you know in a court against him I think has has more of an effect than just talk. And just to be clear, this was not a criminal case. Correct. So his life, it's a civilization.

Absolutely Okay, so this doesn't get in the way of his political Ambitions in the least because it's a civil case for the moment, right? Yes, although it's not something you want to advertise when you're on the The Campaign Trail you know it's a bad fact. Sure, sure. We also have other headlines that indicate the jury has awarded Carol damages of over 2 million as Romaine was just telling us. but the jury also finds Trump liable for defaming Carol So explain what that means.

Uh, in so far as some kind of compensatory damage. So three Milli She wrote an article confessing this or bringing this out in public for the first time in 2019 and he calls her a liar and a bunch of other things. So she sued him for defamation as well. So she wins on that point as well.

And that could very well add to punitive damages. And it did. It totaled at five Milli So two Milli for I believe battery and then three Milli for defamation. Um, so I assume that they're not the most happy with that if I was a part of like the Trump campaign I would assume that they uh, are not enjoying that news at the moment very quickly.

Let's check in to see how things are going. Bitcoins still going the Spy holding strong at 414 Remember Upside: Gap fill to 4 15 27 I Could add this alert but is it already just going to Auto ding on me like it's been? Nope. I Guess not all right. so that would be the upside Gap that was 4 15 27 If you are paying attention to the spy uh Bitcoin continuing to go GC coming down a little bit gold, this is gold right here.

uh, 2050 looking strong I'm gonna throw up IEP just because it's getting cracked uh IEP Having a real rough morning as high as 38 actually got above 38 yesterday 38 17 so 38 some change selling all the way down to 33.48 this is down 12 in pre-market The farther it comes down the more I like it I particularly want it below 34. in my mind, the way I do technical analysis: 34 is a key key level if it trades and holds below 34. I think that opens up the gate to 30 and then obviously if it gets below and holds below 30, I will then be looking for all the way down to 20, potentially even sub 20. I Do have a position on this.

I'm going to be completely forthcoming if you watch these streams. you know I've been carrying many puts on IEP Most of the gains have already been locked in, but I have some Lotto plays left over some 30 strikes, some 20 strike. So I'm expecting them to be up pretty handed. lead this morning.

the dollar continuing to die. Let's see how the regional banking sector is doing. It is popping which is the last thing I want to see it is up. uh, looks like 89 cents up 2.4 percent.

Uh, obviously the regional banking sector really catching a second wind if you will off the upward movement in the overall Market Obviously calming some fears down, but let's see if it holds. Actually, that's a fair question for you. That's a very fair question. Uh, do you folks believe that this push will hold? I mean if you had asked me I Do think we are looking at this upside: Gap Bill to 4, 15, 27 but maybe I'm wrong.

Maybe I'm completely wrong. Do you think that this push right here will hold? Or do you think that there's going to be some swing? Traders Some profit takers right at the gate and then we end up getting crash or crushed I'm leaning a little bit more towards the bullish side, but hey, we've seen crazier things. We've seen massive pushes not hold whatsoever. So I Kind of want to know where all of your mindset is at.

No. no moon day? Absolutely not. Oh, we have some negative Nancy's in here today. We definitely have uh, some negative nancies in here.

Last time we dropped throughout the day. Short term? Yes, long term? no inter. What's Kramer saying Kramer was actually been bullish on the market which makes me feel like the Market's gonna get cracked. Uh, Kramer has been a little bit more bullish sounding recently which uh, would have me a little bit worried here.

So unfortunately, Rum had a great day yesterday. Rum got above 10. 18 is where we closed at Great Day for rum getting above that 10 resistance. but then it fell off and a lot of people know why this fell off and it related to Tucker Carlson Tucker Carlson says he's launching a new show on Twitter Many people assume Tucker would be coming to rumble, but I guess it's not going that way or not going that way.

I may be the best way to say it is at this moment in time Tucker's new show will be on Twitter Arguably a big big win for Elon Musk and Twitter as a whole, here's what he had to say about it: I mean look, this has already been watched 19 million times. That's fascinating. Those are huge numbers. Hey, it's Tucker Carlson You often hear people say the news is full of lies, but most of the time that's not exactly right.

Much of what you see on television or read the New York Times is in fact true in the literal sense. It could pass one of the media's own fact checks. Lawyers would be willing to sign off on it. In fact, they may have, but that doesn't make it true.

It's not true. At the most basic level. the news you consume is a lie. A lie of the stealthiest and most Insidious kind facts have been withheld on purpose.

Along with proportion and perspective. You are being manipulated. How does that work? Let's see if I tell you that a man has been unjustly arrested for armed robbery. That is not strictly speaking a lie.

He may have been framed. At this point. There's been no trial, so no one can really say. But if I don't mention the fact that the same man has been arrested for the same crime six times before, Am I really informing you? No.

I'm not I'm misleading you and that's what the news media are doing in every story that matters. every day of the week, every week of the year. What's it like to work in a system like that? After more than 30 years in the middle of it, we could tell you Stories The best you can hope for in the news business at this point is the freedom to tell the fullest truth that you can. But there are always limits and you know that if you bump up against those limits often enough you will be fired for it.

That's not a guess. It's guaranteed. Every person who works in English language media understands that the rule of what you can't say defines everything. It's filthy really, and it's utterly corrupting.

You can't have a free Society If people aren't allowed to say what they think is true, speech is the fundamental prerequisite for democracy, That's why it's enshrined in the first of our constitutional amendments. Amazingly, as of tonight, there aren't many platforms left that allow Free Speech The last big one remaining in the world. The only one is Twitter Where we are now. Twitter has long served as the place where our national conversation incubates and develops.

Twitter is not a partisan site. Everybody's allowed here and we think that's a good thing. And yet for the most part, the news that you see analyzed on Twitter comes from media organizations that are themselves thinly disguised propaganda. Outlets You see it on cable news.

you talk about it on Twitter The result may feel like a debate, but actually The Gatekeepers are still in charge. We think that's a bad system. We know exactly how it works and we're sick of it. Starting soon, we'll be bringing a new version of the show we've been doing for the last six and a half years to Twitter.

We bring some other things too, which we'll tell you about, but for now, we're just grateful to be here. Free speech is the main right that you have. Without it, you have. no others.

See you soon! So that's the big announcement from Twitter and from Tucker Carlson uh new show being brought to Twitter and then I think the main quote should be Elon uh Elon had a follow-up on this Elon Elon Elon Where are you? Where are you Elon All right, Wait, what is this? CBC News I wish I knew how to quit you All right? Uh, what did he say on this platform? Unlike the one-way Street of broadcast, people are able to interact, critique, and refute whatever is said. and of course anything misleading will get community notes. I Also want to be clear we have not signed a deal of any kind whatsoever. Tucker is subject to the same rules and rewards of all content creators.

Rewards means subscriptions and advertising Revenue sharing coming soon, which is a function of how many people subscribe and advertise views associated with the content. I Hope that many others, particularly from the left, also choose to be content creators on this platform. So that's the big announcement. from Tucker Carlson Twitter Elon Musk Actually pretty wild now from a business standpoint.

whether you like Tucker or whether you don't I think this for multiple reasons will lead to a huge increase in his money. Whatever the money Fox was offering I Think this move right here. The views are going to be huge. I Think the advertising is going to be huge.

The subscriptions are going to be huge I Think he will have multiple. There will be multiples on his previous pay compared to what he's doing now. I Think this is a massive massive Financial win for obviously Tucker and his team. That's my prediction on it.

I Think he's gonna end up crushing it here, but we'll we'll end up seeing how it all really plays out at the end of the day. So that's a major update with I guess Twitter Tucker The media landscape I Just I Just see so many moves going on with media right now. and I think the way we all in our minds perceive mainstream E to be: I Think if you give it five to ten years, it's pretty much going to be done. I Think people are no longer believing in trusting in really care about mainstream media I Think these brands of whatever Fox CNN MSNBC All of those I think they're done I Think people care about individual content creators, journalists, things of that nature I Think people are more so inclined to care about individuals and Trust in individuals than they are corporate Brands and I think we are in the middle of a very seismic shift in the world of media and I mean if you even look at what's been going on with Fox recently, Um, I know I mean it depends on how far you want to go back, but the really the tldr of it is like a lot of their big people are just now gone.

Um, you can see that with CNN like it's this is not to pick on like one I guess media organization over another. but this is now the going. Trend This is clearly the going Trend that major people are just kind of doing their own thing, especially with the expansive technology. It makes it far far far easier to do it far far easier to pull it all off.

So uh, I don't think that these types of stories are going to slow down. In fact, I think they're just going to continue to pick up and up and up because I truly believe I mean whether it's anecdotally or just my own preferences, my friend's preferences. but even in here there is a strong, strong quantitative I Guess reasoning that people care much more about what individuals have to say now than just like what mainstream media is like telling I guess the anchor to say um, and I think it's across the entire board. So that's my I guess in the next five 10, 15 years, I think media and the way we think of media now is going to be, uh, permanently warped and I I think this is going to be I don't know if it's functionally the start of the end of mainstream media I think there's Fair arguments to be made that there's We've already seen the start of the end like a couple years ago and I don't think the political turmoil the polarization has helped at all.

I think people are starting to realize that they've been lied to a lot. so I would argue that it already started, but it feels like the velocity is very much picking up. Very very very much picking up so it'll be interesting to see how it all plays out. and I don't know I'm excited I'm excited I hope you're excited! So huge update from Tucker Huge update from what's going on on: Twitter I Do have to admit I'm a little bummed out.

uh I think not like I guess I'm bummed out on a selfish reason because if it was announced he's going to rumble I Know my rum investment would have exploded like there probably would have gapped up a dollar or two like a huge percentage gain. So I'm a little bummed out from my investment. but I don't really view this as to be like a negative for rumble because it's not like Rumble had them and then they lost them. they were I would assume uh, trying to get them like why would they not try to get them but so I'm a little bummed out there.

but who knows. like uh I think it's common, especially the way Twitter is Twitter's not set up for like Evergreen content or for Clips Obviously they have the capability to pull off streams and you can watch it in real time and that's really how I think of Twitter of like real-time events, but still, you're gonna have to go to other platforms for Evergreen content. Uh, especially like when you want some sort of serving mechanism and not just the most recent. So even that I think there is still opportunity for maybe Tucker and rumbled to have some sort of deal of if they do a bunch of clips and maybe if that ends up in Rumble I don't know I guess I'm just thinking out loud, but uh, really, what I'm attempting to say is just because the show's going on Twitter That doesn't necessarily mean all of the content will live on Twitter Uh, unless they add quite a bit to the platform.

which if that does happen, that would be quite an overhaul and it would take quite a bit of time. and there's obviously various other companies that already have a technical lead on that. So obviously this narrative is still developing. There's a lot that could and might happen might not happen.

so we'll say we'll pay attention to it. I mean I have to pay attention to it just for literally the aspect of running my own business here. But I think all this just to be a little bit more informed of seeing how like the world is or isn't going. those are Matt's glaucoma glasses.

No, it's just because I think we're gonna see so much freaking volatility today. I Don't wanna I Don't want my eyes to dry out Team: Uh, dry eyes are probably one of the worst things you can get as a streamer. you know, don't want to risk the those dry eyes IEP is getting cracked right now. Down: 11 they are having their earnings report came out the earnings call is going to be at 10 A.M So in about 45 minutes which means in about 15 minutes, the market Bell will go dingity ding ding ding.

Which brings up a fair point. Tesla should be up right now because Rivian B Yeah Tesla at 173. if you are a Tesla player I do want to bring up to you Well, we could go through a lot of these major charts do some quick technical breakdowns. so Tesla's now gapping up.

Which means you should probably watch the upside capital and the downside Gap they'll simultaneously, but today looks like it might be a pretty freaking good day in the market. So there is an upside Gap Bill to 177.65 on Tesla And since we're gapping up right now, that means there's a new downside. Gap though to yesterday's high of 169.82 um, Tesla's been trending upward came down a little bit I Do like this I think we are heading to 177.65 um I'm not personally playing it but I just want to let you know that technical call out Apple's been crushing it I Think it's going to have a very tough time getting Above This 175 176 Resistance I Think just because we've been moving so much I think it could get up there I would expect a rejection. Uh, so I wouldn't be playing for that breakout right now.

Of course it could happen, but we're in the game of odds. I think the odds of it getting up here, breaking and holding are relatively low. if it does get up there. I think the odds of a rejection are higher and I think it needs to build up a bit more momentum just because it's already run so much.

Not long ago Apple was at 124. we're now trading at 173. uh, that's a huge gain. In fact, how much of a gain is that? We are now up 39.5 You have to appreciate how much of a game that is for the U.S Stock market's biggest company.

It's not at 3 trillion right now, but it's almost at 3 trillion. I think 183 and some change. So it's ten dollars away from being at a three trillion dollar company. Uh, so that like, think about how much money was generated in such a short time.

I think I mean things are looking good right now, but I see it battling very, very hard to get above 176. we have trend line resistance. We have previous resistance I mean multiple previous resistance right here. 176 179.

I Think it's going to have a hell of a fight to get above and stay above 180. Microsoft It gapped up and it's just been kind of coast and holding holding very strong. It's up in pre-market right now about point five percent. Uh, if it keeps going I would be watching 316.

Similar to Apple though it's at a lot of resistance, it's been moving a lot. So unless something really functionally changes in the overall market right now. uh, I don't know. I View this as if you're going long.

you have to. Con Well, if you're doing anything, you have to consider your risk, reward, and the risk of going long right now. look how much everything's already moved. If I were to go long I would want things to sell off a bit and then start to turn back around.

Uh, always consider your risk to reward right now because of what is going on in the overall. Market You do have the regional banking sector moving up. It's up 2.24 right now. You can track that with Kre.

That sucks for my position, but let's see if it holds. Throughout the day, the Bell hasn't even gone dignity ding ding ding yet, so there's still quite a bit of time left in today. If you're looking at the tech sector: Tech Sector gapping up above a major breakout, major breakout at 324. we're apparently gapping up above that if the party keeps going today.

man. I Mean we might be talking 330 next. Yeah, there could be a little bit of a hiccup at 326 on an intraday basis. Next major magnet level.

Previous resist since at 3 30 if you are watching the tech sector obviously, Bitcoin's been absolutely doing well this year. I Mean how much of a percentage are we up right now up? 79 Crazy. At a point people were calling out shoulder head, shoulder looking like it was going to fall over and it's been battling. It's been staying above 27k, so if it can continue to a whole 27k, you're looking for that breakout of 30 and then obviously 31 and we might be back.

Off To the Races Just because we're talking about Crypto Pepe It has a huge percentage salt like sell-off recently. it might not be done. this might just be a low and if it starts to bend back around, especially if it gets back above 30, I Mean this might just be a like a breather after such an ungodly rip. I Have a very small position on Pepe This is such a degenerate play.

it's a meme coin. Given enough time, it'll most likely get seriously, seriously, seriously rugged. So if you're playing around this, understand: you're being a gender degenerate. Understand: you need to be very, very careful.

Like as in pay attention your wrist. Don't let this position like blow you out and by any means all right. So with that being said, let me drop this all to the one minute. and then IEP coming up a little bit it's above 34 on IEP I'm very closely watching 34.

a couple questions for all of you beautiful folks today. Question number one is what do you want on the screen Uh, we have the overall Market We have the regional banking sector we have IEP which remember the earnings calls at 10 A.M We have Tesla up there. What are the main ones you guys want up here? What are the main ones you guys want up here? Let me know that and then on top of it. What tickers do you want to do a chart review of? uh, call out your favorite tickers, especially ones that you think might be about to break out ones that you think might be about to break down.

What are the main opportunities you are looking for this morning? All right. So we have Tesla we have coin, we have Amazon All right we have Disney we have Capital One cof Meta Let's check out Meta. probably doing better now that we know Mark Zuckerberg can win uh upst uh that I think was up 50 Upst crushed its earnings I think it's uh, how much is it up right now? 38 after gaining five percent I mean it closed the day out at 14 trading at 19 right now Upsd annihilating. it's been bleeding, bleeding bleeding.

Uh, but their earnings were good. it went up I'm not going to chase this if you already have a position. Massive. Congrats to you.

The way I would play this is if they are starts to show weakness I would maybe play it back down to this Gap fill at 14 13. uh, but I wouldn't do that until like clearly solid weakness which it might not show in the near future. Um so I would definitely be watching that one. What else do we have Coco that one's been crushing it.

Cocoa some water Mullen Mullen Uh. Rivium R-i-v-n What else do you guys have? What else? What else? What else? What else? AMD uh. Bior Kind of just sucks but we can still look at it AMD B-i-o-r All right, that's A LMNOP we could do that. We could look at the dollar we can look at Bitcoin Uh Square SQ PAC Wfsr Hack w F S r BlackRock Does that be okay? I forget to take off the top one.

All right, that's a good start. That's a good start. We can go from there if there's more, but that's a good list to go off of. um, very quickly while you guys are in here.

I Know it's annoying to remind you folks if you're watching right now I ask you to help me out. Please help me out. I could use your help destroy the like button. Uh, there's 16 of 100 of you in here on YouTube Uh, we could easily get the likes up to over 500 and then on Rumble same thing.

Hang on, Let me see how many of you folks are in here early this morning with me. There's 800 of you in here so we could easily get like a thousand likes, destroy the like. And don't forget to subscribe. If you like talking about stocks options Futures Crypto Breaking news, this is the place for you to be.

Uh, we obviously on top of it have really cool sunglasses. uh so hit the like button, don't forget to subscribe. And also just while we're talking about, let's give a shout out to today's stream Sponsor Shout out to Streepy! We've been partnered with them for about three months now. It's been nothing but absolutely awesome.

This is a Robo advisor so yes, you can do your own normal buying and selling of stock. If you want to buy and sell, feel free to do it on street beat. They do not accept payment for order flow Kickback from many of these market makers or other related firms. But what's so cool about Street Beef that no one else offers is they are not only with their own proprietary data, but they're also using Chat Gbt.

You can create your own trading strategies where you're like hey, like through AI it's really cool I have a couple videos on it. we could do a couple more but you talked into AI be like hey, um create me a trading strategy that I don't know takes advantage of, the regional banking sector failing and also we're in a high inflationary environment and it'll do that for you. It takes like about two minutes to load and you can look at what it is. it's reasoning and as things progress every single week, it reevaluates for you based on once again, three beats proprietary data and also just what's going on in the world.

And then if there needs to be a change, whether they want to switch out a stock or if they want to change your percentage holdership, then you just accept it. But beyond that, if you're like I don't know if I want to make my mind my own. They already have some pre-built ones. Uh, Bond ladder one and earnings call one a top US Government one um, top government contract one U.S Congressional Holdings Like just tracking politicians.

All of that can be done through Street It is pinned to the top of chat. It's in the description of the video, but all you have to do is really download it. You don't necessarily have to click on the link if you're on your iPhone if you're on your Android just Download treaty and on the very first page, put in the code Matt M-a-t-t Those four letters will allow you to get anywhere from five to five thousand dollars when you sign up and deposit. Obviously, you'll get more money the more money you deposit into the account.

Clearly, it's a marketing tactic because they're that confident in their company that they want people to use it because they think they're really going to like it. And that's how they can afford to give away the money they're giving away when everyone signs up and uses it. So once again, it is pinned to the top of chat. You could also just download it and put in the code matte.

It'll be the very first page and that code mat is how you unlock the bonus. Anywhere from five to five thousand dollars. Check it out! I Really, really, really think you're gonna like it. In fact, while we're talking about it I should look at how mine are doing street beat the one that's been crushing it I have two that have really been crushing it.

Um, the Bond Ladder one. Hang on, let me look at it for them. Uh, how do I see all the Bond ladder one is up 1.12 Oh now. so value Value 200 The value Hunter that's the one that I said like hey, create me a training strategy that got herself will invest in that's up three percent and then Honey Badger is up 1.7 So Honey Badger And that was all as of the close of yesterday.

So I Think we're looking good. We're looking good. We're looking good. We're looking good I Like it I like it I Like it I Like it.

Um, obviously this isn't like you can trade stock and you could be a bit more active. but the way I View this is just like strong strategies but it's meant to be like over time because uh, it's different investment like portfolio strategy. So really like it I Wholeheartedly believe it is worthwhile for all of you to check out. Looks like the Market's taking a bit of a dip as we get closer and closer to the Bell open.

I mean things did get a little hot there for a second I Mean look at the market. Here's the Futures Market Let me throw it on the 15 minute chart. Look at that rip. Just huge pop-up So obviously pay attention to this pre-market High I Know more of you are trading the Spy so pay attention to basically 415.

Remember, there is an upside Gap fill to 4 15 27 but depending on where we open, there actually might be a quick downside. Gap filled to 413.72 So pay attention to this. Uh, we might. I Mean there is actually a theoretical chance that we have two Gap fills today.

Downside: Gap fill to 413 72 which is 12 cents away and then an upside Gap filled to 415 27 which is about a dollar 35 roughly give or take depending on where we open today. so we might be filling one Gap Today, two gaps today. Um, it looks like finally we're gonna have a bit of craziness. a bit of volatility.

I Hope we have some big swings today. And more importantly than that, I hope we have some big swings obviously in my favor. so spy looking good if you missed it if you did not get up early today I Know we have some people watching all the way from Alaska The major reporter this morning was the CPI report, the Consumer Price Index report and the tldr of that is inflation came in even lower than expected, just by a hair. but that was good enough to get the market to essentially go rip City.

And that's exactly why the Spy exploded from 4 10, 50 all the way up to 414 right now, getting as high as 415. Will it hold? I Think the odds of it are pretty good today. I Think people like this hopium I Think they like the enthusiasm I Think they like the momentum, but that's also no guaranteed. Not long ago we've seen CPI reports open up very poorly or very good, and we've actually watched it live of the complete inverse happening throughout the day.

So there's no guarantee in the market that what happens in pre-market is how things are