Transcript of Behind the Scenes of Trump's Visit to the Stock Exchange

I'm Nicole Lappin, the only financial expert you don't need a dictionary to understand. It's time for some money rehab.

Hey, everybody. It's me, the Einstein on Wall Street from the floor of the New York Stock Exchange. Ladies and gentlemen, I'm going to be your temporary host sitting in for Nicole Lappin of Money Rehab as she is on maternity leave. We're gonna be doing episode after episode every day of what the heck's going on, giving you a forensic breakdown of what's happening into the market as we end 2024. We'll be seeing a lot of you, so stay tuned.

321. Hey, everybody. It's me, the Einstein of Wall Street. We are here with Trade Like Einstein. I am Peter Tuckmanou here on the floor of the New York Stock Exchange in the balcony.

History is made in this building every single day. Somebody with my long term experience, I've been here for a 130 7 years, it is my responsibility to help teach you how to navigate this market successfully. Boom.

Hey, everybody. It's me, the Einstein of Wall Street. Wow. What a day. This morning, I believe the PPI numbers came in, and they were not as good as we would want.

So that definitely set the stage for an interest rate cut, but that also dragged down on the market in some sectors more than others. Look, we came in this morning. Mister Trump, our soon to be president, was nominated person of the year by Time Magazine, and they, in cahoots with the New York Stock Exchange, decided that they would then ring the opening bell and make a party out of it, and they sure indeed do that. You know, I've been on the stock exchange for a 137 years. I've seen, you know, presidents come and presidents go.

The last president who I was there for was the last president who was there was Bush number 1. And he and his wife came to the floor, I believe. And no. Maybe just him. And then the younger Bush's wife came without him after 911.

But, yes, Bush 1 was there. We ended up powdering his shoes, which is a bit of a gag that we do on the floor of the exchange, but he was the last president to be there. Obama, Clinton, nor mister Biden, none of them had been down to the floor. So this was a big deal. And so this morning, we came in.

Security was off the charts, as rightly so. 2 attempted assassinations on mister Trump. So they basically really needed to set the stage so that there was no chance that, God forbid, anything could happen to, the next president. So we had, you know and also inside the floor of the exchange, it was just set up for, you know, a smooth entry in, a smooth entry out. We were sort of, you know our our maneuverability on the floor as brokers was a little bit restricted, but that's okay for an event like this.

That that so be it. So be it. So they honored him upstairs, and he came with an incredible entourage. I did send some pictures, hopefully, that, you know, you will be able to see them. But mister Vance, JD Vance, the vice president to be, was also there.

Mister Trump's wife and daughters were there. And all the CEOs of all the largest hedge brokerage firms were there. David Solomon, head of Goldman, and a number of others, Chiefs and Chiefs, were there. And then a couple of heads of major hedge funds were there. Steve Ackman, who I believe had been a Democrat and had switched parties, was there to support mister Trump.

He ended up going on CNBC. You know, the only thing that was slightly disappointing was that mister Musk was not there because he is a big, big added value to this organization, you know, in a way if you are at all, interested in what's going on with tech and AI and all that kind of stuff. So, anyway, the first thing they did was honor him in the boardroom, which was amazing. And we were not in for that. That was just super strict, the inner inner circle, and that was cool.

And then they came down to the floor, and they rang the opening bell. And then they did a little bit of a walk around with the restricted maneuvering on the floor, walking and seeing what's going on. But they they basically kept people in their spot. But what was disappointing was that I kind of anticipated that the market would respond favorably to mister Trump being there, and it did not. Right?

So whether the economic data was the market slightly fatigued or whatnot, but that was the case. We closed down an odd line. Really was an odd line. I think the market's trying to figure itself out. I believe we got some more economic data coming in.

Tomorrow, it's kind of getting its footing for Santa Claus to come. I mean, you've got to be able to hear the ring, ding, ding of the, sleigh bells and the reindeer. Because I feel that they're coming to town. I kind of got my gut is that the last couple look, we are on 12th. Right?

So you've got 12 days to Christmas. You've got 20 days, until, the end of the year. And, you know, often you will see window dressing in years where the markets are down. That's surely not this year. We are up 27% for the year.

You know, what we did have, which was so exciting about yesterday, was that Nasdaq closed at a record high above 20,000. Right? Today, there's a little bit of a pullback, so we gave a little bit of it back. But that's amazing. You're talking about stocks, the highest flyers on Wall Street.

The Google and Amazon and Netflix and these stocks and a couple more and, Apple closing at record highs, like all time highs, not 52 week highs. Like, the the top of the top, the cream of the crop, unbelievable. And that's big. That's that's quite a year. That's an incredible show.

So that should should signify to everybody that this is not a bubble. This is not just window dressing. These are real numbers, real money being put to work, real support, real loyalism as far as those companies go because they are those are loyalist companies. Right? Amazon.

If you're an Amazon buyer, you that's what you do. Right? If you're a Netflix watcher, that's what you do. If you're an Apple user, that's what you do. Right?

And so and that's how we are. We are the greatest consumer loyal consumer generation, I believe, of all time. Right? When we when we like a burger, we like Shake Shack. When we like an Uber, that's who we drive with.

If we like an Apple, we've got the phone. We've got the computer. You know? It's like what we do in our spare time, what social media we're on. If we're an Instagram person, that's where we put our our our loyalty.

And so that's an unbelievable thing. When young people ask me what stocks to invest in, I will often say to them, go to school, high school, college, wherever you are. Go to school and ask, you know, 10 people that you see in class, you know, what sneakers they wear, what computers they use, what they do in their spare time, what social media they're on, you know, and they really get a sense of their loyalism and where they stand, you know. And you will end up finding that you're gonna and then this is no endorsement of any of these companies, but you're gonna, you know, and what hamburgers they eat and what coffee do they drink. So you're gonna hear a Starbucks.

You're gonna hear a, a Shake Shack. You're gonna hear an Apple. You know, maybe not Nike because it's having a bad batch, but for a while there, it was a Nike thing. But, you know, these are the companies that have have taken this market higher and higher. They're part of the Magnificent 7, which is unbelievable.

So that's what's brought 2024 to where it is, up 27% for the year. In the eyes of so much potential, it's troublesome times. This year could have gone a whole another way. Right? But it didn't.

Right? We forged forward. There were pebbles in our shoes. We took them out of our shoes. There were bumps in the road.

We went around those bumps. There were wars on the path, you know, and we moved on through those. So, I mean, you know, the markets are resilient. People are resilient. Humans are resilient.

Right? We know that from our own lives. So anyway, today was an extraordinary day from the market's perspective globally. Whether you like mister Trump or not, it was an event that will be remembered forever, person of the year. And obviously, person of the year is not necessarily somebody who you may think is a good person or a bad person or whatever, but somebody who's definitely is forging a new space, as forging a new path, and is changing the world in many ways.

Some for the good, some for the bad. But, you know, what an amazing day, what an amazing year, what an amazing life, what an amazing market, volatility, liquidity. Talking markets, talking you know, it's it's a beautiful day to be alive. You know, I try to wake up with some gratitude in my attitude. I try and go trade the market.

I try and like to share and educate, motivate, and inspire as many people as I can along this journey, you know, and surround myself with people who are really good at what they do and have and are inspired and motivated to do great things and learn and teach and and share their stories with other anybody. So I love you all. Have a wonderful night. I'm signing off for the night. Bing bong.

Shotzi, I'm out of here.

Money Rehab is a production of Money News Network. I'm your host, Nicole Lappin. Money Rehab's executive producer is Morgan Lavoie. Our researcher is Emily Holmes. Do you need some money rehab?

And let's be honest, we all do. So email us your money questions, money rehab at money news network dot com to potentially have your questions answered on the show or even have a 1 on 1 intervention with me. And follow us on Instagram at money news and TikTok at money news network for exclusive video content. And lastly, thank you. No, seriously.

Thank you. Thank you for listening and for investing in yourself, which is the most important investment you can make.