Markets Navigate AI Doubts and Global Uncertainty

0:00 Speaker 1 Well, there’s a war going on. I ran the still the price of oil is up, but it looks like the markets are not getting hurt. John Terry is with us, John, give us a report. The markets are not feeling the pain of what’s going on, even though oil has gone up.

0:18 And uh, I guess the war’s still going.

0:20 Speaker 2 On, lolling, John, Well, three things dominated Wall Street last week. What was Kevin Walsh appearing on Capitol Hill. The other was the Iron War, which, as you say, it does appear to be escalating. And then AI investment worries. And there was a new Chinese bot that seemed to come out on Friday that rattled the markets as well, called Moonshot.

0:37 Let me deal with them individually. First of all, kevinsh saying inflation, the fight is not over. He was speaking after CPI and PPI came in much lower in June, after that memorandum of understanding between Tehran and Washington lowered gas prices. But unfortunately that was June and this is July, and we know that gas prices are going back up

0:55 again and crude oil prices too, though CPI was in fact down in June the greatest amount in six years. You’ve got to go back to twenty twenty before you see a declinent like that. The aararmed situation, of course, is ongoing. The straight of horn Moose seems to be escalating.

1:10 The AI woes, well, this comes every other day, literally every other day. Wolfreet warries about this and the amount of money that’s been spent on AI and whether they’ll ever see a proper return. There seems to be a chip route not pretty much every single day that comes.

1:24 As for the markets, well, they have of course been up and they haven’t been too rattled by what’s going on in the Middle East. But on Friday they were deeply in the red. Second losing week in a row, and that was caused by the things that I just set up. Company News, Netflix showing slow in growth again.

1:40 They did that in April. They were down ten percent, then they did it midweek, down another seven percent. On Friday.

1:45 Speaker 2 The banks had stellar earnings, of course, led by JP Morgan Chase, which turned in the biggest bank earnings for a quarter ever at twenty one point two billion dollars. That was helped by IPOs. Of course. Apple on Friday became the biggest company in the world by market capitalization overtaking in Vidia. They also are in talks with the DOJ to settle a twenty twenty four

2:06 antitrust case.

2:07 Speaker 3 Twelve states are.

2:09 Speaker 2 Suing Paramounts Guidance and Discovery Warner over an anti trust issue.

2:13 Speaker 3 The crypto story of the week.

2:14 Speaker 2 It’s one year since the Genius Act was signed by President Trump. This gives a framework to stable coins. Stable coins are a kind of cryptocurrency that are basically linked to tangible things.

2:25 Speaker 3 Like the dollar for example.

2:26 Speaker 2 And in the weak ahead, big earnings for second quarter, A big names, really big alphabet Tesla and Intel among them, John.

2:34 Speaker 1 SpaceX, what happened?

2:37 Speaker 3 Yes, SpaceX, good point.

2:38 Speaker 2 Well, Unfortunately regarding SpaceX, they had a tremendous start with the stock up well over two hundred dollars. On Friday, that stock was down significantly, sort of around the one hundred and twenty three dollar mark. And I think basically the problem is they have that bad launch midweek. And also I think, you know, you can’t go on the

3:00 excitement surrounding the IPO is dying off now and we will see the price come down. In other words, I think it’s a long term investment, not one you want to be looking at every day if you’re lucky enough to own them.

3:12 Speaker 1 Well, thank you for calling in this Sunday morning, like every Sunday morning, and thanks for the update.

3:18 Speaker 2 Thank you, John, See you next Sunday. Thank you,