Transcript of Fed Predictions & Tech Expert Dan Ives on Bitcoin and Bull Markets

I love hosting on Airbnb. It's a great way to bring in some extra cash, but I totally get it that it might sound overwhelming to start or even too complicated if, say, you wanna put your summer home in Maine on Airbnb, but you live full time in San Francisco, and you can't go to Maine every time you need to change sheets for your guests or something like that. If thoughts like these have been holding you back, I have great news for you. Airbnb has launched a cohost network, which is a network of high quality local cohosts with Airbnb experience that can take care of your home and your guests. Cohosts can do what you don't have time for, like managing your reservations, messaging your guests, giving support at the property, or even create your listing for you.

I always wanna line up a reservation for my house when I'm traveling for work, but sometimes I just don't get around to it because getting ready to travel always feels like a scramble, so I don't end up making time to make my house look guest friendly. I guess that's the best way to put it. But I'm matching with a co host, so I can still make that extra cash while also making it easy on myself. Find a co host at airbnb.com/host. You know, there was this 1 time before I did my own money rehab when I checked my credit score and I realized I had no idea what it actually meant for my financial future.

That's when it hit me. It was time to get serious about my money. We've all had that moment. Right? Whether it's saving for something big or finally paying off debt, we all get to a point where we need to make some real money moves.

That's where Chime comes in. Chime offers a checking account designed to help you take control of your finances. With no monthly fees, no maintenance fees, and fee free overdraft up to $200 with Spot Me. Imagine overdrafting and not having to worry about fees piling up. Chime's got you covered.

Plus, Chime isn't just a financial tool. It's a community. You can get boosts from friends to temporarily increase your spot me limit, and when you help someone out with their own boost, they can return the favor. Friends helping friends make progress. It's that simple.

So why not make your fall finances a little greener? Open your Chime account in just 2 minutes at chime.com/mn. That's chime.com/mn, as in money news network. Chime feels like progress. Banking services and debit card provided by the Bancorp NA or Stride Bank NA, members FDIC.

Spot Me eligibility requirements and overdraft limits apply. Boosts are available to eligible Chime members enrolled in Spot Me and are subject to monthly limits. Terms and conditions apply. Go to chime.com/disclosures for details. I'm Nicole Lappin, the only financial expert you don't need a dictionary to understand.

It's time for some money rehab.

Hey, Money Rehabbers. It's Morgan, the producer of the show. And today is the last day of Peter Tuckman's week of guest hosting Money Rehab. Peter Tuckman is a broker on the New York Stock Exchange. He is also a host of 1 of M and N's podcasts called Trade Like Einstein.

He's a really sharp thinker in this space, and he also has more energy than anyone I've ever met. So if you don't subscribe to his show, please check it out. He's really wonderful. In today's episode, Peter starts by doing what he's done every day this week, which is giving a breakdown of what happened in the financial markets today. He has a really special point of view because he is there in the heart of it on the floor of the New York Stock Exchange.

So he explains what's moving and shaking in the market today and why he thinks a Santa Claus rally is about to happen, which is a typical sort of upswing in the market that we see around this time of year historically. And then in the second part of his conversation, instead of hearing 1 of his favorite interviews from the year, you're actually going to hear an interview that he taped today with Dan Ives. Dan is a managing director and senior equity research analyst at Wedbush, and he is 1 of the most sought after analysts and specialists on tech. He really has his finger on the pulse in this space. I pay very close attention when he talks, and Peter and Dan just have a really fun dynamic.

They tape together a lot for Peter's show, so if you love that, definitely subscribe. And then next week, I will be guest hosting the show. I'm really excited. I'll tell you more about that on Monday. But for now, here's Peter.

321. Hey, everybody. It's me, the Einstein of Wall Street. We are here with Trade Like Einstein. I am Peter Tucano 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 137 years. It is my responsibility to help teach you how to navigate this market successfully. Boom.

Everybody, it's me, the Einstein of Wall Street from the floor of the New York Stock Exchange. The ceiling, the floor, the greatest financial institution in the world. We're talking S and P 6000. What a great week. We are now, amazingly enough, I can't believe it.

I'm still back in July. But we are literally 2 weeks away from the end of 2024, a year that has given us 27% on the S and P. It has hit records in the Nasdaq of 20,000. I think we came super, super close, but surely broke through 6,000 on the S and P, the Russell trading at record highs, and the Dow at 45,000. Right?

Pulled back a little bit this week, but that's not that important. We actually had on the day that the market broke 20,000 on the, Nasdaq, The Nasdaq 100, I believe, broke 20,000. That was a day that we had a record high in Netflix, Amazon, Google, Apple, and Meta. Can you imagine that? Not not 52 week highs, but record highs.

So these are real numbers, real money being put to work. Really, you know, while while the valuations seem to be a bit frothy, people are paying them. Right? It feels like today's highest, tomorrow's low. I mean, that's the way it is.

If everybody's been sitting around not wanting to pay top dollar for these stocks and not being wanting to pay record highs, well, they've missed the boat. They've missed that whole year. That's why I always say there's no bad time to buy this market. Think about that. We've seen Nvidia.

We've seen Nvidia go, you know, go off the charts. Every 1 of these pullbacks we've seen in 2024 has been a screaming buying opportunity for tech for so many different sectors and stocks on the on the exchange. So, anyway, the last couple of weeks, obviously, we did a little bit of a flat line here. Okay? So, look, 8 times out of 8, now it's 9 times out of 9 when you've had a presidential election cycle.

Right? You've got a nice rally into the election, a bit of a follow through rally the couple days after the election. It sort of flatlined with a slight pullback until November 22nd. Then you see a nice rally into the Black Monday, Black Friday of Thanksgiving. This year, we had amazing Amazon, and nationally, we had the greatest Thanksgiving season of all time.

And then a little bit more of a bit of a flat line into middle middle, December, and then Santa Claus rally into the end of the year. That's happened 8 times out of 8 times within the presidential political cycle, and this time it happened at nighttime. So that was that little bit of a flat line we saw last week until Friday when we had those economic numbers, the payroll numbers that came in that were right in line, if not better than year over year, and the market loved it. And we closed on last Friday, a week ago at record highs across the board in every indices. Then we came in on Monday.

We came in on Monday, and the market pulled back a little bit because NVIDIA, the Chinese government attacked NVIDIA for monopoly practices. Right? And that took Nvidia down, and it took the baby out with the bathwater, and it knocked the whole market down. Look, the bears have been sitting in their caves dying and waiting to come out, and they've only been able to come out 7 times this year. They've been sitting there with their Pepsi slushies and their and then and their Doritos, dying to come out every time they came out.

They came out in April, came out in July, came out in August, came out. And for small bits of time, maybe a day or 2, a week, they've been rebuffed by way stronger bullish markets after the fact. And they kept saying, I told you so, I told you so, but that never came to fruition. Right? And once again, Monday, Tuesday this week, they were saying it 1 more time, Like, okay.

I told you this is gonna happen. Yet it didn't happen because Monday Wednesday's CPI number came in, and it was right in line, 3.33.3, just what the market expected. And the market rallied and once again closed at record highs, up 55 handles on Wednesday. Thursday, sort of anemic at best, probably a little bit of a sell off because the PPI number was disappointing. But what did that mean?

That was where bad news equals good news. That negative data that came out is what's gonna probably give that last bit of powder for the Fed to cut interest rates in next week's meeting. It's a beautiful thing. So that's probably what's probably gonna catalyze the Santa Claus rally that will bring us in at the end of this year over the next 2 weeks into a record close for 2024. That's how I see it.

And you know what? Look. I can I may be wrong? I've been wrong before. There could be something that throws completely dislocates this whole story in a big way, but I don't see it happening that way.

This week was extraordinary in so many ways. We did have the soon to be president of the United States come down on the floor of the exchange. 1st president since Bush won that came down, and the most notable was Ronald Reagan who came down on March 28, 1985, which is the first day that the Einstein and Wall Street were got a job on the floor of the exchange. That was the first day I got down here, and what a day it was. What an amazing time and amazing life it's been for me.

He came down to the floor. Security was absolutely insane. He gave a speech up in the boardroom. Apparently, there the US has these these reserves of petroleum. You know?

We owe most of the our oil partners there throughout the world are not our friends. Right? Venezuela, Iraq, Iran, Saudi Arabia, and Russia. So we have these petroleum reserves in the 100 of millions, perhaps 100 of 1,000,000,000 of barrels of oil that we need in gasoline, that we need in case of a confrontation. Well, now mister Trump announced down here on the floor of the exchange that we are gonna create a reserve in Bitcoin in the same mindset.

Right? Besides the fact that he announced that we are gonna be the kingdom of crypto, now we are going to have a prudent reserve of Bitcoin at in the US basis of the US economy. That's a cool idea. Right? So if you're in that name, then then that's probably gonna give it a little bit of boost.

I think it did. It probably took helped take it up to a 100,000, a coin, where we live right now. He then did come down to the floor. He did ring the bell. You know, he talked about a number of different things, tariffs in China, blah blah blah.

You know? But the people that showed up for him were as extraordinary. CEOs of all the biggest brokerage firms, Goldman Sachs and whatnot. You know? Bill Ackman, CEOs of some of the largest, hedge funds in the world.

Vice president was here. So, look, unfortunately, I thought it was gonna make the market pop, but it did not do that at all. The market kind of faded into the day and yesterday was that yesterday? That was yesterday. And then today, we had a little bit of green on the open because we had some economic data.

It was reasonable, nothing that exciting, and we closed out the week. Probably I don't know. Net net, I think we were up on the week. We closed down 6 handles. You know, the the Dow the Dow has been under a lot of pressure, probably just 1 or 2 individual stocks.

But where does that leave us? That leaves us with the Fed meeting next week. My gut is it's 88% chance we're gonna cut interest rates. Anyway, I'm out of breath. I gotta get out of here.

It's been, like, the longest month for a week week I've ever seen. I love you all. Bing bong. Shotzi, have a great weekend. Trade like Einstein, Money News Network.

Shout out to my beautiful friend, Nicole Lavin, who's on maternity leave. May she give birth to a beautiful healthy child, and we love you all. And that's all I gotta say about that.

Hold on to your wallets. Money Rehab will be right back. I love hosting on Airbnb. It's a great way to bring in some extra cash. But I totally get it that it might sound overwhelming to start or even too complicated if, say, you wanna put your summer home in Maine on Airbnb, but you live full time in San Francisco, and you can't go to Maine every time you need to change sheets for your guests or something like that.

If thoughts like these have been holding you back, I have great news for you. Airbnb has launched a co host network, which is a network of high quality local co hosts with Airbnb experience that can take care of your home and your guests. Cohosts can do what you don't have time for, like managing your reservations, messaging your guests, giving support at the property, or even create your listing for you. I always wanna line up a reservation for my house when I'm traveling for work, but sometimes I just don't get around to it because getting ready to travel always feels like a scramble, so I don't end up making time to make my house look guest friendly. I guess that's the best way to put it.

But I'm matching with a co host, so I can still make that extra cash while also making it easy on myself. Find a co host at airbnb.com/ host. You know, there was this 1 time before I did my own money rehab when I checked my credit score and I realized I had no idea what it actually meant for my financial future. That's when it hit me. It was time to get serious about my money.

We've all had that moment. Right? Whether it's saving for something big or finally paying off debt, we all get to a point where we need to make some real money moves. That's where Chime comes in. Chime offers a checking account designed to help you take control of your finances.

With no monthly fees, no maintenance fees, and fee free overdraft up to $200 with Spot Meet. Imagine overdrafting and not having to worry about fees piling up. Chime's got you covered. Plus, Chime isn't just a financial tool. It's a community.

You can get boosts from friends to temporarily increase your spot limit, and when you help someone out with their own boost, they can return the favor. Friends helping friends make progress. It's that simple. So why not make your fall finances a little greener? Open your Chime account in just 2 minutes at chime.com/mn.

That's chime.com/mn, as in money news network. Chime feels like progress. Banking services and debit card provided by the Banc NA or Stride Bank NA, members FDIC. Spot me eligibility requirements and overdraft limits apply. Boosts are available to eligible Chime members enrolled in Spot me and are subject to monthly limits.

Terms and conditions apply. Go to chime.com/disclosures for details. And now for some more money rehab.

Now here's Peter's conversation with Dan Ives.

Hey, Hey, everybody. It's me, Dion, on the wall street from the balcony at the New York Stock Exchange. We are sporting even though he is, as per the New York Post, the best dressed man on Wall Street, we are sporting the same kind of dust. We got cool sneaks. He's got some cool colors.

I got my little costume going on. We got a very cool hitty. You know why we do this? We want to be accessible to the general public so that we can share with you everything we know about tech, the volatility, earnings, the stock market, and the New York Stock Exchange. Thank you for joining me today, sir.

Great to be here. You are the man.

So let's go back. Yesterday, obviously, we had mister Trump here on the floor, the first president since Bush won. And then, obviously, the most notable visit was mister Reagan. That was the first day I actually worked on Wall Street. It was March 28, 1985.

And it was wild and crazy here back then that we had 8,000 people on the floor then working here. So you can imagine when the president come, and then we had there wasn't as much security because you didn't need that much security back then. Bush won, though, we we did do. There was an old prank that used to happen always on the floor of the stock exchange when a celebrity or a dignitary would come down. Somebody, when they were engaged in a conversation and overwhelmed by the room, someone would come up behind them and douse their shoes with baby powder.

Right? And everyone in on the floor would start banging their feet saying it's snowing in New York. They would suddenly look down and see baby powder all over their shoes. We even did it to the president. And Really?

Yes. It was extraordinary. That was 1 of our greatest moves. The only 1 who actually got upset was I think he was an Italian, someone in the foreign service for Italy. He was wearing purple patent leather velvet shoes, and we doused him with the baby powder.

He was probably never able to wear those shoes again. Anyway, let's get down to business. Yesterday, mister Trump was here. He talked about a couple of things. He talked about setting up you know, that the US has a prudent reserve for petroleum, right, in case of war, in case of any any kind of a problem.

We've got 100 100 of I think 100 of 1,000,000,000 of barrels or millions of barrels of oil on reserve in case of a war, in case of a confrontation at some point. Because you you all know that a majority of the nations that are oil producing nations are not our friends. Venezuela, Iraq, Iran, and Saudi Arabia, the law and Russia, of course, the largest producers. So yesterday, he did say that he was going to set up a prudent reserve for Bitcoin, right, which is obviously extraordinary. And I think it's probably given a little bit of the boost to Bitcoin since he

left it. Same day that Microsoft tried to add to Nasdaq 1,000 more than that.

Isn't that extraordinary? That came this morning. Yeah. Right. And then yesterday, he announced the the approved reserve of Bitcoin.

What does that mean? That means that the US as a nation, near 25,000,000 Bitcoin, that he is going to start collecting Bitcoin, and we're gonna hold it on as a nation as part of our, economy. So that should be a cool

And I think now, do more this is gonna be the big question on the next shift. Do more public companies Right. Start to not as aggressively in MicroStrategy, but do they start to put at least a percentage of what they have in treasury Right. From the cash in Bitcoin? In Bitcoin.

So we know, like, Apple's got 100 of 1,000,000 of dollars in cash. Yeah. And a lot of public companies, obviously, how do they end up just just, displaying our earnings or whatever whatever the word is like, giving out earnings is by having cash on hand. Some hold cash. It was 1 of the problems back in the day that everyone was saying, why is why why is Apple holding so many so much cash?

Right? Why don't they give some back to the to the, the shareholders? Anyway, not what we're talking about today. So that's fascinating. So, yes, MicroStrategy, my Mike Sailor Yep.

Mike Sailor's company, obviously, is 1 of the largest holders. I think all their holdings are in Bitcoin.

I mean, all and and they continue to raise capital convertible

Right.

By Bitcoin. So their view is basically, this is really gonna be comes to full Bitcoin. Right? Right. Remember, my strategy is still data analytics.

Like, it's act it's a real company. Right. But the way that this company is now being valued is really the Bitcoin derivative. Okay.

So if you are looking for exposure to the Bitcoin game and you don't have a $100,000 to buy in a coin, there are other ETFs, I believe, BITO that trades here on the floor. Obviously, Mara is 1, and, obviously, MicroStrategy since it's expensive. It's trading for $104100, I think, at

your share. But if you believe believe Bitcoin, which we if you believe Bitcoin could be 253, we got to go to a1000000, whatever, over the then you'll see more and more bet on MicroStrategy as a derivative play. Derivative play. In terms of play now.

So that's exciting. Take heed of that. Right? That's coming from the man who knows everything about derivative play. We've heard about that as respect to AI and the derivative plays that are respected And

getting those Nasdaq 20,000 halves. Right? And the point is, like You've been let's let's think.

When we started having this Einstein and Ives conversation, you said 2 things to me. Get your 20,000 NASDAQ hats out, and there's gonna be a 6 in front of the S and P by the end of the year, and you have been boom, shot the locker right on that, both of them. Amazing.

Okay. And and I think

He's not just another pretty face. Forget about it.

No. But I think it also speaks to, like, the market now just starting to realize that AI, it's just starting to multiply. Because because we were still about for every dollar spent on video trip, 8 to $10 multiplier across the rest of tech. Right. Now you're starting to see some of that in terms of software infrastructure and build outs.

And that's gonna be in the 2nd, 3rd derivative of a like, other companies.

Give us a look. Look. If someone said to you Avago, brought if you give Avago Avago. Right. Look look what that stock's done today.

Okay. So it's showing you that, you know, this second, 3rd, 4th derivative, it's not just about Mag 7 infrastructure, about and in terms of the chip echo system, in terms of software, names like Salesforce Right. Of course, Palantir and others. Right. And then the consumer AI revolution that goes to Apple Right.

Which I believe Apple

is Right. And didn't they just say they're putting Chatby GPT into the iPhone?

Exactly. So that that's the first step to ultimately what's gonna be hundreds of apps Right. That are built on Apple device that are gonna be AI driven.

Stronger. So the revolution that Dan has been talking about for months now is actually happening. We are in the midst of it. We started 8 months ago in the 2nd inning of this game. Now we're probably in the 3rd inning.

In terms of the party, it started off at 9 PM in that party, and now it's 10 PM 10 PM. In a party that goes at 4 AM.

Okay. And and and Who's invited to this party?

They were going you know, Software, Benioff, they were waiting. Their name wasn't on the list. Right. 2 weeks ago without earnings, Velvet Roofs, they got and now they're on the floor with Jensen. They're on the lead, Musk, and others.

Right. Software starting to get invited. So now we are gonna see more and more tech players get invited to that party, and that's how this broader rally continues to spread. And, again, with Trump in the White House, deregulation, finally early Christmas or Hanukkah present beyond out of the FTC. That means more and more deal making is gonna happen.

That's why it just continues to be what I view it. We're in the 2nd year of what I

extraordinary. So think about it. When Dan and I were talking a couple of weeks before the election, we were talking about what is the market? How is the look. That was everybody's question.

How is the market going to respond to a Kamala, presidency or a Trump presidency? And, obviously, look, the I I believe that this administration, whether Kamala had anything to do with it or not, has to take full credit for where the market is today. Right? Mister Trump cannot take any credit for where we are today, trading at record highs across every embassy, some of the best 4 years. Right?

We know it. COVID, up 20%. 21, up 28%. 22, down double digits. We know that.

It was a function of inflation and the interest rate story. 23 24, now up 27%. So this administration has obviously, is responsible for that incredible market across absolutely every indices. But we were talking about what does it look like on either side depending on who wins this election? Your question was that yeah.

Look. A continuation of the past 4 years, if that goes forward, if Cuomo becomes president, then that's not a bad thing. Our fear was with Trump coming in was obviously tariffs in China. Right? And you said to me, initially, we both agreed that that was the wild card that could cause a problem.

Go ahead. But And I think to that point, he right away and, again, having Musk at his side is very important too because some of that rhetoric now has been toned down to where you'll have tariffs. Right. But in terms of impacting the chip trade, AI revolution, Apple, Tesla, it's not gonna happen. And the deregulation is a huge problem.

That's because now you look at, like, from FTC to what we're seeing in terms of, you know, I think across the beltway. Right? That was probably the biggest limiting factor to maybe tackle the coming years.

So just to break that down to somebody who's doesn't know really what Dan is talking about, a couple of things. FTC, the people who are the regulators out here are ousted by mister Trump, and you're gonna have people more friendly to m and a. So we are gonna see us a lot more mergers and acquisitions. Number 2 is by bringing Elon, Musk into the inner circle of the Trump family, you are you are sort of padding. You are you are you're padding.

You're carving out any potential disaster. Look.

You're not gonna have mister mister Musk in the inner circle representing Tesla, and the other Mag 7 are going to now be protected and carve out around those companies, because you know he's not gonna raise himself up in Tesla and let everybody all fall by the wayside. By having him in there in the inner circle, that's gonna carve out a protection mode for all the rest of the Mag 7 and tech and, AI.

And, autonomous. As we always autonomous.

Right. Which has not been not been, accepted that well. That's been that's been the wild time today.

Like, I think, like, in Switzerland, like, they just actually, like, said, like, you they actually proved autonomous right now. So so we're we're gonna and I'll be in Norway and Scandinavia in a few weeks. Like, the point is, like, you're now gonna see around the world autonomous. That's something that's and I could argue that that can be probably the best use case of AI for Tesla. I think autonomous is worth a $1,000,000,000,000 a little.

So think about it. What was the 1 thing that took Tesla down to $350 about 4 weeks ago was the meeting they had about the autonomous cars that was not received well. They knocked Tesla down $70 at that point, and it sat there for 3 or 4 weeks. Remember that? We talked about it.

And I said to you, what's going on with Tesla? Is it gonna come out come come out of this this this doldrums? And you said, don't worry. Earnings are next week. The people are gonna get on board with the autonomous vehicle story, and they did.

Once again, Dan Ives. Number 2, number 3 for Dan Ives because earnings did come out. The stock went up $13 after hours, $50 the next day, and it's up a $100 since then.

But that's also because of the bears. Just because the because the bear the bear. Because no. Bears?

Are there any bears here?

The the problem is because the bears wearing their fleece, their sleeves. Right.

They can't Full body suits.

They can't find AI in the spreadsheet. Right. And I think it just comes down to, like, what's gonna happen more and more in tech, you're gonna see across all different subsectors, street still massively underestimating Right. What I believe, you know, AI is gonna do the fundamentals.

Okay. So where does that leave us? That leaves us in the midst of a revolution, the second, 3rd inning of an amazing ballgame that's all about tech, AI, gents and best of breed. It's also you're talking about at 4 o'clock and a party that's going till 10 PM and a party that's going till 4 AM with yet a lot of the derivatives of the AI story, Microsoft, Google, Amazon have yet to be let in through the red rubs. And there,

I don't expect that 4 AM is a pass through the party. I like, it'd be just just now, it's like, you're not the leverage is not in the system. You have 6,000,000,000,000 Right. Of money still in money. On the sidelines.

Imagine that.

Still in the sidelines.

I'm not a believer.

If you go back

to dotcom, Bob, okay, you had the average tech company trading about 30 times revenue. Okay. Today, it's 30 times earnings. Right. I'm just trying to explain, like, this is what I believe this I'm not we're we're gonna definitely have some dips.

Right. As we knew As we've seen. Like Tokyo Black Flag. Right? Like Black Monday, you have a 5 or 6 time.

But the opportunities will be there again. I think we sit here a year from now being, like, another market year in terms of tech. Because it's a 4th industrial revolution. You're building you just got back from Dubai. You're building Dubai, Vegas, from the ground up, from a technology perspective.

So look, how exciting is this? It's absolutely unbelievable to think about what Dan is talking about, this amazing revolution. And, look, at the end of the day I kind of lost my train of thought. But, look, at at the end of the day now come on. Bring it back, Pete.

Where are you? You know what? I'll just keep going. No. But but

it does speak to, like, as as you were saying, like, where we are. Like, when we're talking about things like Dubai or Vegas, the ground up Right. Choose the amount of infrastructure, energy, derivative place, And now Khan, going to the FTC, if you'll make him work, so I'll

make him smile. Okay. So what I wanted to remember, that's that's a great part of this story. But at the end of the day, also, think about it. This market, if you had 7 fingers on your hand, that is the amount of times on December 7 finger hand, like like Bruce Almighty.

Remember that great scene in in in that funny movie? At the end of the day, we've had 7 opportunities this year. Look. This market is up 27% for the year. We've had 7 times this year where you've had where the the the major the mainstream media has called recession, depression, dogs and cats living together, all that craziness.

Right? We saw it in in April, right after the best quarter since 2019. We saw it in July for about a 7% pullback for the 1st week there. We saw it on August 5th, right, which was that devastating day. We came in on a Monday after a Black Monday in Japan with all that story, the carry on trade.

We've talked about it many times. Then September, the 1st week, the worst week for tech since COVID. The 2nd week, the best week for, tech since COVID. October 5th. So that is about 6 or 7 times.

Then this week, we had 2 days where the market came off its highs last Friday, record highs across all indices. We came in on Monday Tuesday, and we pulled back. Nothing significant, but the mainstream media kept talking about this is it. The story's over. The bubble's here.

Blah blah blah. When these were sell offs or pullbacks or consolidations, whatever you wanna call them, surely not crashes. We're nothing more than an opportunity. We always say it. If the story has not fundamentally changed at all, take an opportunity.

In April, when we were down 7% in this market, NVIDIA went from 924 down to 700. It happened once again when the earnings came out in March, April, in in in May June. We've seen this happen in every pullback. The baby gets thrown out with the bathwater. And if the story hasn't fundamentally changed, take this as an opportunity to buy stocks at a discount.

And you'll see it fed next week. They'll cut. Then the street will, like, try to, you know, parse out in terms of how's words. Right. Are they gonna continue to cut into next year?

Look. The reality is Fed's gonna cut 100 bps next 12 to 18 months regardless of when that happens. That is a soft landing engineer, but in those periods, you get opportunities.

And you get opportunities. I love that. Do you think Santa Claus is coming to town?

I do. Look. I think Santa Claus is coming down and, ultimately, like, there's a rally to the next 2 weeks. Right. Then you probably go into early next year with a bit of a pullback.

Right. You have all

January profit taking. What do you think about this tax credit credit thing? Like, people are not gonna be selling. Right? They've got profits in their in their investments this year, most people, unless you've been trading blind and you're not you're not making any even our man, Nile here, right, our filmer here has made a lot of good money this year.

Don't tell the IRS anyway. Yeah. Go ahead.

But to that point, I don't I mean, I don't think you have massive tax because also you have 1 where, like, tax cuts are coming. Right. Salt's gonna come back. Right. And the the fundamentals of this market are accelerating, not deep.

So the point is, like, this is gonna be 1 of those periods where I think it's actually gonna be, like, a very strong first half of the year. Okay. As full and then maybe you have some sort of sell offs during the summer. But I think, overall, you're looking at the S and P 7, 75100 You heard it here first. And then Nasdaq, we believe, sort of 23, 5, 24,000.

That's extraordinary.

Look. Those are amazing numbers. And now look. If Dan if historic data tells us anything, Dan called these numbers in February 2024, and he's calling them here now. That's what 2025 looks like.

Any fears of what could happen within the new administration coming into next year?

I think you'll have fears around China tariffs, Hawkes, Rubio, some others, Navarro. But then the reality is is that this is they're gonna get to a better spot. Right. In in other words, like You're

gonna take down that

aggressive narrative. Now as you go through it, you'll have some game of high stakes poker. Right. It's what happens in negotiation. I believe Barb will be worse than Biden.

I don't think that that most importantly, that doesn't negatively impact AI trend.

Okay. So think about it. Even though the Bears do come out every once in a while, they're sitting in the cave with their Pepsi slushies and a bag of Doritos, now there's new organic Doritos. I just found out about that the other day. Go check them out.

Okay. Organic Doritos. Can you imagine? It's Do you think the Bears are eating the door? Organic Doritos?

I'm not. Or they're straight out old school. Or I look.

I'm more old school. I'm not sure I'm sold on an organic Doritos.

No. I it's counterintuitive. It it is. Doritos are Doritos. It is.

Right. You just wanna eat them and get nauseous. It's all Exactly. Exactly. Okay.

So we're gonna wrap this up. It's really a pleasure. We are gonna have 1 more, I hope, before the end of the year. Dan Ives, Einstein and Ives, Trade Life, Einstein, Money News Network. We are covering in for our friend, Nicole Lappin, who's on maternity leave.

Ladies and gentlemen, we are in

the midst of a revolution. Put your money to work. We have explained this to

you on any a revolution. Put your money to work. We have explained this to you on any level. Get your feet in the water and get busy making money, not losing money, invest in stocks, not stop. Have a great holiday.

That's it, my man. Awesome. Dan Ives. Giddy up. Boom.

That's all I gotta say about that.

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. I love hosting on Airbnb. It's a great way to bring in some extra cash, but I totally get it that it might sound overwhelming to start or even too complicated if, say, you want to put your summer home in Maine on Airbnb, but you live full time in San Francisco and you can't go to Maine every time you need to change sheets for your guests or something like that. If thoughts like these have been holding you back, I have great news for you.

Airbnb has launched a cohost network, which is a network of high quality local cohosts with Airbnb experience that can take care of your home and your guests. Cohosts can do what you don't have time for, like managing your reservations, messaging your guests, giving support at the property, or even create your listing for you. I always wanna line up a reservation for my house when I'm traveling for work, but sometimes I just don't get around to it because getting ready to travel always feels like a scramble, so I don't end up making time to make my house look guest friendly. I guess that's the best way to put it. But I'm matching with a cohost, so I can still make that extra cash while also making it easy on myself.

Find a cohost@airbnb.com/host.