On today's episode of Catalysts, anchors Seana Smith and Madison Mills cover everything from AI to banks to Wrangler jeans. Ahead of the highly...
amid high inflation, which is straining household wallets. Baxter explains that their success stems from the fact that"the consumer right now is gonna go ahead and buy the things that they need."The big catalyst for the week and video earnings coming out on Wednesday, those shares are up over 86% year to date here.
But the backdrop here is that we're seeing a lot of major indices over the the entire globe here hitting all time highs, 14 of the 20 major indices hitting all time highs as of Friday's close So it's possible that the market momentum is no longer relying completely on NVIDIA, even though, of course, those expectations are quite lofty.If it is a massive miss, you think that the street naturally would take a huge issue with that, given the pace that NVIDIA has set here for the markets.
Well, I certainly think that's a big component and it's gonna play an important role here in the short term with the market.This is an election year.If you look back, going back to 1928 it uh markets are positive in an election year, over 83% of the time versus uh 69% of the time non election years. Um I believe that a lot of that's already been priced in and looking forward the market is looking at rate cuts.And I think the opportunity of getting ahead of the first rate cut is very important with the small cap index, right, within small caps.
So when we talk about fed cuts in the different cycles, I like to break it down in, in a couple of different areas.And there are some that where the fed cuts really quick.The reason why they cut quick is because they've, they've made a mistake, essentially, they missed it.Um, the other other historical errors where there's a big crash and they're reacting to it.We believe we're in a slow cycle and that is the ideal environment for the stock market.
The CFO also earlier today on that buyback statistic that I mentioned saying right now, we've got quite a bit of excess capital. But also what you just said about A I I think is so interesting with time saving and the revenue growth and allowing the company to get rid of that.
Yeah, this is a stock and you can see on the screen right now over the last six months, up 65% in the last month alone, I believe it's up just around 20%. I think obviously goes into this uh re rating that we are seeing the up that we are seeing here for Mike.When we talk about the results that we have on top on Wednesday, ultimately, what this means for so many other smaller players within this space, clearly not a massive rival here to a committee up until this point.
And you've seen some announcements over the last 60 days for companies like Intel, TS MC M that was mentioned before, as well as Samsung. And they also don't specialize in some of the chips that we had an issue with in the US during the shortage. So what you see from the Chis program is a diversified theft, the way the American taxpayer would want it rather than just betting on one firm you mentioned national security.
And you saw so many things during the COVID pandemic that weren't showing up where they were supposed to and chips were part of that. Do you think there's more restrictions that are necessary or how do you think the Biden administration is evaluating that landscape today?You got to have people inside government with technological expertise who understand markets and I think you do have that but they also have to keep an open channel with the government.
So I think it comes to the Chips Act, look for the investments that occur over the next several years. Estimates and we keep this, but that came at a time when global smartphone shipments increased 8% year on year.When you think about Apple's market share slipping specifically in China, which could have led to these steep price cuts.
And for that reason, I expect mostly to see continuity going forward certainly in the foreseeable future. Well, what's interesting too is that the Iranian people had moved to not exist in a monarchy and now there are, there's this question about whether or not the voting process is going to involve much of a choice for the Iranian people.Uh You don't have to be cynical to believe what I'm about to tell you.These are always highly regulated engineered elections.
I I mean, look again, I I would just be careful and not putting too much emphasis on the role the centrality of Ibrahim Raisi because when you hear the title of president, you assume automatically based on Western standards, that that means a lot of power.So he had to find ways to go around the sanctions that the US has imposed on him on Iran.
He would push back on the supreme leader and say, maybe we should find some compromises with the United States and so forth. You know, we like how we position our brands and where we position them and the specific channels that we're in and our consumers gotten used to our brands at the right price point in the right channels.So that's been really important to us, you know, during a tough time gaining share.I'm curious, what do you be that too?
If you're going to bring up country music and jeans, I got to bring up the new queen in the space which is Beyonce.I mean, you got to be a little bit concerned, right?We've been, we've been the premier country Music Gene in the Western Gene since 1947. So, from a pure department store standpoint, it hasn't been a strength of ours, so it hasn't impacted us in that respect.That's where they're shopping and they continue to do well, continue to get stronger and they're running really good businesses So it's a really strong partnership for us.
We know that they have had a couple of promotional events that haven't necessarily resulted in a boost to their business here. So again, the the future here very uncertain when it comes to Red Lobster and how this is all going to play out, Shana.We're gonna have Priceline Ceo right here on Yahoo Finance to discuss.So what we see a shift in how people travel, whether that's vacationing closer by opting for all inclusives or just taking short vacations overall for what we're going to bring in.
And that's really helping I think to spur more airline uh traffic, the airlines have opened up more capacity as a result. And so I think what's happened is really, people are falling into a more normal state of travel and doing a little more work to really find what fits their budget for them. Um, I think what will happen is you'll see suppliers start to pull their prices back which will open up more travel opportunities, more deals for consumers that they'll be spending less to take the same kinds of trips.
So the demand is still there today, Mattie, I think the question though is what that demand is going to look like kind of what we're just talking to the CEO of Priceline about there minutes ago, just if we do see any sort of waning demand because of very sticky inflation because of the fact that consumers are still under pressure later on this year into 2025 how quickly maybe that could potentially erode or really weigh on some of these larger travel names.
Uh So uh potentially a bet that consumers are gonna continue traveling, not just overall but on cruises which fascinates me because I, I would never go on a cruise ever.But I think it has been remarkable, right, this unprecedented surge that we have seen within the cruise industry because it wasn't too long ago, four years ago when people, unfortunately, because of COVID, people have been getting sick on shifts.
NEW YORK — Former Donald Trump attorney Michael Cohen admitted Monday to jurors in the Republican's hush money trial that he stole tens of thousands of dollars from Trump's company as defense lawyers seized on the star witness' misdeeds to attack his credibility. The landmark trial kicked back off with defense cross-examination of Cohen, whose pivotal testimony last week directly tied Trump to the alleged hush money scheme.
Seana Smith Madison Mills Micron Technology Biden Administration Nvidia White House Red Lobster Jpmorgan Chase & Co. Scott Baxter
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