The Jon Sanchez Show
09/11-How today’s CPI report impacted the market and your portfolio
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You fall into a different thing, evening versus afternoon, I don't know if I'll ever get there. Hey, if that's the worst thing that you do? This is true. This is true. Yeah. Forgive me. For I have sinned. How are you doing, my man? I'm doing okay. Do you know what today was? The 17th, I know, yeah. It's the 17th year in a row that the S&P has been green on 9/11. 17 years. No way. Yeah. I was down. That's something. That is a wicked reversal today, but whoever is in charge of the buy machines on 9/11 was napping. And then they came in later on. Wow. Yeah, crazy. That's something. That really is. I never tell you the next trading day, sorry. Yeah. Did I ever tell you the story of what I did on 9/11, or when we reopened, what was that? Four days later? I'll tell you the story when I did that. No, do tell. Yeah. It was, I was, you know, living in, working in Bakersfield at that time. And we, I had, I don't know, three or four guys working for me. And we put our heads together and said, "Okay, you know, what can we do to do our little, little, little, you know, tidbit of rallying this country and this market?" And so I went on the radio at that point, I was told in the radio then, and said, "You know what? Any stock transactions that we do, we are going to eat the commission for anybody that does it." And Jason was the most beautiful thing in the world. I can't tell you, I think we probably had a hundred new people call. And it wasn't much. I mean, people would buy, you know, one share of this, or two shares of this. Nothing significant. Sure. But just show the spirit and, and, you know, the patriotism that people would do whatever they needed to, to show this world that how strong we are here in the US. And I'll, I'll never forget that and how proud I was of, you know, the, the audience and the clients and stuff at that point to do that. So that was really cool. Yeah. That was really, really cool to do that. Where were you at that point? I was in Boston, sitting on the trading desk, watching, talking to people on the phone while folks who cover us at Canner Fits Gerald and everything, you know, were unfortunately passing away. So I was right in the thick of it. Oh, it was crazy. I had friends call me from downtown with cell phones telling me when the first plane just hit the building because they were right out in front. Worked at Merrill Lynch. Yeah. So I mean, it was pretty insane. Yeah. And there's a lot of people that covered us yet at Canner and a couple of other shops. Yeah. Terrible. Yeah. Can't forget it real hard. Yeah. Silly Tista, his name was. Yeah. Yeah. Yeah. Yeah. Yeah. It's, you know, I'm sure we all can reflect on our own, in our own way on this, on this day, but it's, it's amazing how, how fast time goes. First of all, I mean, here we are 23 years later and it'll never, never, never go away. Of course, I never wanted to go away and it's just a reminder again of, of the fortitude of this country and, you know, again, the, what families and friends like you and so on and so forth went through such a devastating day. And I, I always make it a point. I'm going to do it tonight to, to watch one of the specials using natural, a national geographic has really good specials on, you know, that whole day and everything that transpired. And you just, you have to watch it because you, you forget everything that, that we went through and the emotions that we were going through and you know, again, not knowing what the heck was going on. And then of course, when you, you know, the, the plane crashing into the Pentagon and then, you know, the one in what Pennsylvania and so on and so forth and it's just, you have to relive it. You really do to, to just get an appreciation for what an incredible country that we live in and, and you know, there's a reflect back on the thousands of people that lost their lives. So tough day for a lot of people, tough, tough day. All right, enough of that. Let's get down to something else, of course, our prayers and thoughts to, you know, all of you that are affected by the fire, as you heard, it's obviously getting very worse, very bad this afternoon. So prayers and thoughts to all of you. Be safe. Listen to the instructions of the first responders. They have your best interest at heart, even though I've been on that side, Jason, where I was going neighborhood to neighborhood when I was on search and rescue teams and then on the fire department side and it's a tough one when you tell someone they've got to leave their house and they fight you and, you know, don't want to do it, but please, folks, trust me. Like I said, I've done my fair share of that. It's, it's for the best those, those first responders aren't trying to make your life, you know, miserable. You're looking out for your best interests, you know, all the, all the material things, those can all be replaced. But if you get stuck in your house and they can't come get you, which is usually the case, especially the ones we're going to have this afternoon, then you're on your own and no life is worth it. You know, I was, I was kind of joking with my wife last night, we were watching the news and, you know, you always get this when there's a fire, you know, people like, I know I'm staying behind and, or like I heard one interview, yeah, I left the garden hoses behind for the firefighters. Well, folks, let me tell you something, I have fought my share of forest fires and PILM fires and so on and so forth. A garden hose is not going to do anything, nor will the firefighters even pick it up. So don't even waste your time doing that, you know, just takes a, takes a lot of common sense. But again, you're, you're in our thoughts and prayers and everything. So all right, my friend, you hit it right on the head. What a turnaround snapback rally this market. Can I get a rip your face off from you? Did we qualify? For some folks, sure, you know, it, so Goldman Sachs, other communicopia conference today, which is usually a big technology love in. So I think that's part of some of the strength we saw. Remember, we've talked about how hedge funds, even, you know, probably active mutual fund managers have a very large underweight to technology given valuation and concerns of a pullback of some kind that it was just ripe for a rebound like we saw today, likes of Nvidia, semis in general, semis, three green, green days in a row, but Nvidia specifically had a big turnaround. I think it was trading like 104 this morning, what, a closer 112 or one something like that. 116 91. 116. Yeah. I mean, so that's a massive reversal intraday. So you know, it still feels to me like I would say short covering or a bit of a bare rally in a, you know, a bare trend here near turn, like I'm not calling like, burn some cyclical bear market, but near term, the market is very much in a bearish pullback and this felt more like a bounce than it did a oh my gosh, you really need to chase this thing. It could last for a couple more days. You got CPI. Those numbers were Goldilocks, I would say again to say, hey, now the Fed, they're going to do something. And now it's what? 18% odds of even a 50 basis point cut. So 25 then seems like the odds on favor, which sort of what we had talked about, you know, not to wanting to freak things out even though earlier this month, I would have been surprised to see them do a little bit more given the election and the cycle and so on and so forth. But 25 bips is probably the right answer. But yeah, I mean, tech tech was strong, consumer discretionary strong, but really everything else was meh, you know, no, no real big strength. I think tech did the bulk of the lifting today. That's where the Dow was only up what point 3% versus the NASDAQ up 2.2%. So I wouldn't get all excited, but it certainly was a massive turnaround. I think the S&P was down one and a half percent midday and closed up, you know, 1.1%. So those are your wings. Well, yeah, I mean, even though the Dow was only a point three, well, I got to defend my Dow to you. Okay. We only put a point three one, but, but I ran some numbers where we were at the worst point. So we actually had a eight, we were down over 700, our worst level, which was about, eh, about 730, I guess it was, but if you calculate that low to where we close, not even the high of the day, but where we close 868 point rebound. Yeah. That's significant. Yeah. Yeah. Yeah. But that on a percentage basis, coming from the lows of the highs, I know it was significant, but you know, all joking aside, it was a, like you said, it was a great turnaround, you know, already for the week, you know, we're up pretty substantially on the averages 1.3 to 4.2% for the three major averages. So, you know, this was a very much needed day. And like I said, or like you said, let's see if this is the beginning of the recovery because Lord knows there was a lot of apprehension going into this report today, the CPI report. We're going to, we're going to talk about this because you said it was a Goldilocks report, which I agree, but also I think this was a report that was very closely analyzed. And you know, matter of fact, let's just delve right into this and this is going to be our focus today, but we'll kind of hit a lot of different things since it was such a busy day to day. So if we go to the CPI numbers, folks, here's where we sit. So remember CPI, consumer price index, this is, you know, not the Fed's favorite measure of inflation, but it's the retail level of inflation month over month, up to 10th, ever percent. That was in line with expectations. So this was, again, August's data, of course. So up to 10th, ever percent, year over year, two and a half percent is what we're up. They were expecting 2.6 percent now, Jason, what's important about when we start talking twos in relation to the Fed's expectation? Oh, their target has a two handle. That's right. We're back in the normal range, which is, I would say, good. Right. Yep. There you go. Okay. Now, here's where, in my opinion, I may be wrong on this, but here's where the market got a little squirrely on things. When we get down to the core, so the core is where you strip out the food and energy. Okay. Month over month, up to three tenths, ever percent. So one tenth higher than the overall headline number. Expectation was up to 10th, ever percent. So that number came in a little bit hotter than expected. Again, we're splitting hairs here, but this is what Wall Street does. So one tenth of a percent higher on a month over month basis. Year over year, up 3.2 percent. That number was unchanged, so that, again, remained the same. But do you think that this one tenth of a percent increase on the month over month on the core was enough to spark this? Because as soon as the, let's say I'm looking at my notes right now, Jason, of the stock updates, as soon as that number came out, my first report at 5.23 just to give everybody perspective, Dow futures were down 120. When this number came out at 5.30, I didn't write it down, but when I did my 5.53 report, we were down about 201. So the market obviously sold off on the overall CPI number, but that's the only thing I can think is that headline number was, or excuse me, the core number. It's a little bit hotter on a month over month basis, but as I was telling a client, it's like, on the flip side, one tenth of a percent, but that's kind of what we do with split hairs. What's your opinion about it? I do. I think there could be some of it. I think you had a cross-current of a handful of things. You had the debate that took place last night, maybe some positioning there. You had-- Did you see the futures fall last night when the debate was over? It was quite an interesting debate. But the-- It was mad when I got done with it. I'm sure. But we saw, yeah, I think there was a little bit of that. But I think the other part too is, remember, we talk about that gamma effect, right? If something bad doesn't happen, there's a big bid to the market because of the Christmas effect. We're going to overuse that term. Sure. Once Christmas happens, no matter what you're disappointed afterwards, or the market goes, "All right, now what?" And you get a bleed in one direction or the other, well, given that we're in a bit of a boobare market right now, the fact that CPI was in line, now the election went off without someone doing something crazy, rather than the debate. It's now in the rearview mirror, and so those are now events that have occurred, and the fact that it took place just created, I think, is where that gamma effect sort of kicked in and created that bind through the both of the session because it's very straight. It's not like it's a V off the bottom, but just really sort of almost felt like program bind throughout the day. Yeah, it did. You know, some big natural buyer or some kind that came in, so. All right, perfect. All right, we'll come back to continue our discussion on the market and today's CPI report, but first let's turn over to the wonderful Kristin Snow in the right now, Traffic Center. Kristin, how are you? Welcome back to the John Sanchez Show on his stock 780K08s with Jason God of Sanchez wealth management. All right, and all of this volatility, how do we finish up? Man, not too bad. 125 point gain on the dial, 0.31% close of 40,861, like I said, not a, or as Jason said, not a huge percentage move, but again, look where we were and where we finished. Nasdaq, boy, really strong, 370 gain, 2.17%, close at 17,395, S&P up 59 points are 1.07%. All right, let's go over to the commodity side of things, a little bit of a rising oil prices today, 2.2% gain, 6770, a barrel, gold quiet, just a dollar loss at $2,542.40, and the 10-year treasury quiet, just a one basis point increase to finish out a yield of 3.65%. All right, Jason, let's talk a little bit about in a video, you touched on this earlier. Let's kind of come back to this since this stock is again, such a catalyst for the overall market and many investors' minds. This was again one that the snapback very nicely, as I said, finished up $8.81, 8.2% gain to $1.16.91, meta, up $6, now and after hours plus, it's up $7, so run on down the line. But NVIDIA, like you said, kind of the catalyst of this whole thing, what happened on that side of it? Yeah, they had the Goldman Sachs, other communicopia conference today where a lot of big CEOs come, tech-wise, communication services, et cetera, and NVIDIA, Jensen Huang, was out making a ton of big comments about, you know, that they're having no problem as far as sales are concerned, in fact, that they're unable to build as much inventory as demand, and that they expect Blackwell to still ship in Q4 this year, which is their new chip. And the whole halo around AI really got a lot of fluff. I said this Goldman communicopia conference oftentimes is a technology hug fest. So I think that's a big reason why a lot of these names got going. You had Brad Gerstner from a popular firm on TV. Actually, I think I can say altimeter because nobody can buy it. He was out positive, saying that NVIDIA is now his biggest holding. He tends to get a decent amount of following. Ironically, he used to be an airline guy, but now he's supposedly some big tech guy anyway. But his firm was like, they were like focused on airlines, that guy used to work with cover them, altimeter, like that was their whole big shtick, and now people are like the genius of technology. Anyway, so that was part of it. I just think, again, very, very, very oversold. It was more of a bare balance than a, oh my gosh, we're going back to the highs. We could, but it just felt more like people were trying to take advantage of some pretty oversold names near turn. Yeah, and it was nice to see, like I said, some of the other tech names, like I just mentioned Meta and so on and so forth. Now, one stock that was not thrown into the rally mix today was Trump Media and Technology. DJT is the symbol, of course, Donald Trump's company. Again, this started selling off a little bit in the after hour session after the, well, leading up to the debate and then a little, well, future overnight is pretty much closed by the time the debate got done, but this morning the pre-market, it was down pretty good. Finished down $2.13. 11.43% loss to $16.50. You know, I was thinking about that. Can you imagine having, I mean, he's got, would they say his stake is worth like a couple billion dollars or something and I think he was, yeah, yeah, lots of folks were wanted to buy it because they felt like they were giving him money for his campaign and so on and so on and so forth. Yes, exactly. So that was part of it as well. And, you know, he owns a big stake in it, but obviously if he doesn't win, I don't know, I was thinking about it last night, ironically, after watching the debate, you can see a case where people puke at it, but then, you know, even theoretically, if he didn't win, does it make him even stronger? You know what I mean? Like the whole, you know, the whole, so now that sort of gloves are off and can do all kinds of things with this brand, et cetera for the folks who, you know, obviously there's a litany of folks who think he's the man and, you know, will send him money and buy shares in stock and so on and so forth. So it's, it, it almost feels like a, a bit of a, you know, is he going to win or is he not types, you know, the direction of this stock, but who knows, it's, it certainly is a trading vehicle more than a true investment vehicle because I've asked lots of folks who even own the stock, do you have the app or do you have website access, I've never been on truth social or seen it. You haven't either. You haven't seen a lot of advertising around it other than I've heard you mention of it. So yeah, I know it's a, it's a pretty active one, certainly on the trading side. Yes, no doubt about it. All right, when we come back, we're going to delve into the CPI numbers in more detail again, somewhat of a driving force in today's market rally, or was it? We'll kind of answer that question for you and many more. So we break down the CPI report for the month of August when we return. Let us turn it over. Well, I'm sorry guys. I don't know who we have in the news tonight is it's you, great. You never, you never take a day off my friend. Good job. Hey, thanks. I don't either. Hey, by the way, great job to you and the team for the fire coverage. You guys doing an outstanding job, but I get a chance to tell you publicly. So thank you so much for all that. We really appreciate it. Great enough, everybody. Welcome back to the John Sanchez Show on News Talk 780KOH, with Jason on a Sanchez wealth management 125 gain on the Dow and as I grows 370, the S&P higher by 59. All right, it's time that we go into some intricate details of today's ever so important CPI report. Again, tomorrow we will get PPI at 530 our time that, of course, is the measure on the wholesale side. The CPI, as I said earlier, that is the measure of inflation on the retail side. So what we're going to do right now is kind of break down what happened. And once again, let's kind of give you the headline numbers and then we'll get into some of the key factors of the report. So the CPI, again, increasing two tenths of a percent month over month. That was in line with Wall Street's expectation. On a year over year basis, up two and a half percent expectation was that number should have risen 2.6 percent. On the core, again, where we start about food and energy, up three tenths of a percent month over month, that was expected, or excuse me, expected was two tenths of a percent, so a little bit hotter there. And then year over year, no change with a gain of 3.2 percent overall. So Jason, let's kind of break down, so everyone understands some of the components of this report and see how it impacts your life, see if you agree with some of these numbers. Again, this is one of the big criticisms we've heard over and over again that people are like, that doesn't feel like food prices are going down, it doesn't feel like, you know, shelter is coming down and so on and so forth, even though sometimes some of the data does show that. So there's always this disconnect, it seems like, from what the CPI number tells you, or PPI, or the PCE, the Fed's favorite measure of inflation, compared to real life, correct? Yeah, and remember, it's going up less. It's not going down, right? So a number that we're getting that shows, you know, a positive 2.5 for 2.7 percent year over year down from 6.3 percent or whatever a year ago, just means that a one up 6, whatever 0.3 percent a year ago, and now it's up another 2.5 percent, but that's normal growth. We were at abnormal growth, so that's the part of why it doesn't feel like prices. They aren't going down. They're just going up less, right? I'm not punching you in the face quite as hard as I was. It's not a hug. It's still getting punched in the face. It just isn't quite as aggressive. I like that. Yeah, I'm glad you mentioned that. I know you always throw that in there and that's always a great reminder, absolutely. All right, well, let's talk about one of the components that, speaking of which, that feels like it's still not subsiding by any means, even though, like Jason said, it's just growing less than expected. The food index, up 1/10 of a percent month over month, up 2.1 percent year over year. Yeah, I mean, that's the part that we talk with clients all the time. I don't think food is going to come down for a couple of reasons, right? A, minimum wage changes, right? You've got folks that are potentially making more on that side that we all talk about, you know, debate specifically, right? We had last night talking about, you know, a $25,000, you know, whatever deposit or give down payment on a new home, we'll get, what's that going to do? That's just going to make new home prices go higher, right? That's the thing with all sorts of these minimum wage changes that we've talked about. All that does is make aggregate prices go higher because companies aren't stupid. They know that consumers have more money there, before they raise prices. And that's the thing, you know, so you've got that part where food costs, the folks who are working their tails off to produce that food for us, you know, those costs are going up everywhere, water costs, human costs, you name it. And then we've also got other buyers, right? Japan, certainly China, certainly India, right? You talk here all the time about this rising middle class. Well they want grain and they want phones and they want cars and, you know, so those types of things and certainly on the protein side, I think it's just going to continue to be something that those prices are just going to, you know, continue to be pressured higher. I can't think of what would change that outside of new technology, which certainly could happen that creates more efficient ways to produce foods, not necessarily GMO-wise, but, you know, factories, you know, that can make lettuce and who knows which there are companies that do it and are getting better and better at it. They never have an impact in our life. Yeah, right. You never know, right? And that's the toughest part, right? Maybe starting some long ways. It's going to come down. Yeah. The only way it's going to come down is if people lose their jobs and they're not going to the supermarket and, or they're going into buying a fraction of, kind of what we started to see, right? People are like, I can't buy premium brands anymore. I have to buy, you know, the store is brand brands, exactly. That's right, or Kirkland, or something like that, and that's what happens. But, no, there is no way these prices are going to come down just because, you know, other factors that you said, you know, you're mentioning proteins, I'm so proud of you for using that term. That's a farmer in Ranger's terms, good job on that one. Thank you. Yeah. Yeah. I remember you coming out and feeding it. I remember you coming out and feeding my cattle and that little blizzard star. I did. You fed me Crown Royal. So, that's probably warm. Hey, you know, I know how to, I know how to make my hard to help, but, you know, exactly. For a period of time, and then I fall asleep. That's right, you fall asleep on the couch at night. But, you know, seriously, you look at, you know, cattle prices, the greens, et cetera, other than corn, you know, prices are up for commodities, and every time those prices are up, it just finds its way right through the food chain, you know, all the way to the slaughterhouses, to the grocery stores, and then ultimately to you, the consumer. So, yeah, I want to mention one other thing on this, you know, so up 2.1% year over year but, you know, if I look at the food and beverage, I'm going to throw a beverage into this. Let me take everybody kind of back to April, and you kind of see this trend out to exactly the adjacent 100% correct point. Not huge gains, but they are gains. Now, April, there was no change from March, but you go to May, up 1/10th, June, you're up 2/10th, July, you're up 2/10th, and then August, what we just received, up 1/10th of a percent. So, you know, you're talking what, 4, 5, 6, 6/10th of a percent, you're up just since April. Right? Sure. So, you wonder why it's not feeling relief at the grocery store? There it is right there. All right, let's move on to the next one. It's something near and dear to your heart, you love oil, energy in X, down 8/10th of a percent month over month, but down 4% year over year. Yeah, tactical buyer today. I think that, you know, that space, you know, that should help, right, a little counterbalance, that is going down, should help on the pump side, should help in many different ways, other inputs into industrial commodities, et cetera. But, you know, the, is that signaling some sort of slowdown of some kind, right? That's the question. Do we have too much production relative to consumption? That's an area that consumers will slow on, right, before they stop eating, right? They'll probably drive less or do that, you know, let's go for a, you know, take the motor home on this type of a trip, we'll maybe wait a bit, right? That could happen to certainly some areas, so that's part that I think we start to see if, you know, that demand continues to at least decelerate or we show builds like we had today on the gasoline side, but crude had a draw. So, you know, the production is there, right? We, again, came up on the debates last night that, you know, production is back to highs. I mean, it's, you know, the, will that moderate with the geopolitical, if you have some more concerns in them, at least that could change prices too. Hopefully that stays calm. So that's an area that's always tough to say, you know, what's going to happen next week, next month, next year. Well, yeah, and you got, obviously, one thing you didn't mention, the geopolitical side, right? I mean, that's the wild card there. Middle East, et cetera. And you can't, you can't, you know, tough to forecast that one. You can forecast supply and demand, but that thing can have V shaped on the upside and whatever is an upside down V, I don't know, an A without the middle. It can have those types of declines too. Yeah. Okay. Let's move on to something else that, boy, you hear the consumer talk a lot about. And again, we saw like a broken record mentioned last night on the debates while we're going through these numbers in detail, this shelter index up a half a percent month over a month and up 5.2% year over year, that is pretty significant up 5.2% year over year. Yeah. And that's Homer, Homer, Homer, home equivalent rents, right, where people are, you know, to some extent getting a sense of what their replacement value for their house is on the rental side. And that number still is expected to come down at some point interest rates will bring that number down, right, because it's part of the input that goes into the cost to be a renter or lease or renter or rentee. So that should technically come down, but we'll see with interest rates, right? Yeah. It's not going to affect it. The cost. I don't think it's going to affect it. No, I don't. Yeah. Economically, it should. But then we come down to supply and demand, right? We're starting to get a little bit of it, but Corey brings us up on the show a lot. We're starting to get a little bit of a glut of, you know, apartments and things like that here locally. Come on. I see more and more and more stuff get listed on to the market, right? Exactly. But I don't think we've reached that equilibrium in the marketplace yet. I still think there's more demand than there is supply and therefore I think, yeah, and who knows how long that's going to take. Yeah. Yeah. I mean, we talk about all the time. You know, one of the bull cases that we have here is demographics, right? If you believe that the stock market's a Ponzi scheme and it's more, you know, money in makes it go up and money out, makes it go down. You know, there's more buyers than sellers. The average age in the U.S. is 38 years old. I was so proud of myself. I had sort of approximated that number based on demographics of millennials versus baby boomers and I looked it up to their day and it's literally 37.8 years old. I'm like, nice. But right, that shows you, if you took the boomers and back them up 30 years, I think we're in the mid 90s. We've got technology. We've got consumption, you know, again, hopefully we're not so shadowing 2000 exactly. But who knows? It may, right? I think at the same time, near term, there's just a lot of demand for things because the economy, ironically, is healthy despite people telling us that it's terrible, right? So it's, you know, certain pockets are tough, but overall, the economy is still doing pretty well. Well, you know, you bring up a great point and this is great time to remind everybody. We can, you know, come on off of last night. We can sit here and talk and once I can say the economy is great, once I can say the economy stings, whatever, it's all political mumbo jumbo. Don't believe any of it because they were both wrong last night in many of their statistics and things that they, that they stated. So, but that's politics, right? They don't expect you to be smart enough to know if they're telling the truth or not. Look at the data or listen to us when we go through the non-farm payroll numbers, when we go through all the data that we share with you almost every single night on the show. And the bottom line, folks, if you don't want to, you know, really get up to your elbows and the market and trying to predict where things are going, so and so forth, I'll give you one of the most basic fundamental things that you can do to determine if the stock market's going to go up or not. And that is, if people have jobs, the stock market's going to go up and real estate's going to go up and so on and so forth. It's very simple, right? If you have jobs, you're going to be investing, you're going to be putting money in your 401k, you're going to go out, you're going to buy a house, you're going to go buy a car, you're going to charge a bunch of stuff on your credit card, the economy just keeps going. And that's why jobs are so very, very important to this economy. And then, of course, if, you know, as Jason just said, if there's more buyers than there are sellers on the stock, guess what? The company's going to be making more money, right? The earnings per share will go up and that's really the predominant driver of a stock prices. Are they making money or are they losing it? So it all feeds into that. So throw out again, all the mumbo jumbo, you hear from the politicians, I don't care what side you want to listen to, but just remember, as long as people have jobs and inflation now starting to be, you know, relatively in line with the, getting close to in line with with the Fed once, that 2% mandate, things are actually pretty good. And that's why, you know, you take opportunities like we experienced last week and, you know, today was a, you know, nice little recovery, hopefully it's the beginning of a turnaround. But that's why you take those opportunities and take advantage of them and always have that by list, right? Yes, we always recommend because there's some great values out there that have been beaten up for really no reason. Let us wrap it up. We go to the right now, Truffix Center, Kristin Snow will do such a great job. Thanks, Kristin. Welcome back to the John Sanchez Show on News Talk 780-KOH with Jason Gotten. If you missed any of our broadcasts, hey, pick up the podcast, it's your favorite podcast distributor. They're everywhere, iTunes and Spotify and so on and so forth. So we'd love for you to do that. Hundreds of shows out there, all kinds of great topics that we've discussed over the years literally have built up an incredible library that we're very proud of. All right, once again, we finished up 125 on the dial, a 370 gain on the NASDAQ and a 59 point rise on the S&P. Again, the big report of the day was the CPI data. One more time, up 2/10 of a percent month over month. And of course, if we look at the year over year side of things, up 2 and a half percent, that was a little bit better than estimates of 2.6 percent. So we're breaking down some of the components. So food and beverage, as we said, up 1/10 of a percent housing, again, the shelter side, it was up 1/2 of a percent month over month, up 5.2 percent year over year. Now, Jason, I always like to look at the next components, the new vehicles and the used vehicles. Again, as another great barometer of what's going on with the consumer. So new vehicle index, a flat month over month, down 1.2 percent year over year. Well, again, you've got some very high interest rates. You've seen a lot of lenders push out the terms of a loan, so people can somewhat afford their new $500, $700 car payment. I can't believe what some of those payments are. I don't know how people do it, but they do. But prices, again, kind of flattened down 1.2 percent year over year. This was actually projected, and before you comment, I want to go to the used car and trucks down 1 percent month over month down, 10.4 percent year over year. Most of those numbers were projected by economists to come down as the economy kind of cooled and obviously supply issues no longer a problem like it was during COVID. Yeah. I mean, the used side, I think that's what you meant, is what, down 10 percent, what was it to? Yeah, 10.4 year over year, 1 percent month over month. And it's tough, right? I mean, a year ago, right? Where were we with supply chain shortages and used car prices through the roof? So it's tough comps, right? But yeah, those things are coming down, you're seeing, driving around town, you see more used cars on lots now, whereas you fire a cannon through the driveway and not hit any. So more of that, there's been some concerns about folks walking back and handing back the keys to their $800 a month car payments, even though I would still say that those delinquency rates are back just slightly above what normal was. So it looks like, oh my gosh, they're really going up a lot. It's because they were down at like nothing. So more back to normal, we'll feel like it's a big move. But yeah, no, it's good to see some of those areas come back to reality. You know what, I got a recommendation for you. I think you ought to run for a political office. It's a little late for the presidency, but we'll fit you in somewhere, send it or something like that. Sure. And come out like the Democrats and say, you know what, they did billions of dollars of student loan forgiveness. Why don't you do autolone forgiveness? There you go. Yeah. That's the vote you get on that one. The drinking game for any time trillions or millions, you'd be like, we got to run cold. Thanks, buddy. We'll see everybody tomorrow. God bless. This program was sponsored by Sanchez Wealth Management. The material in this program was intended as general information only and should not be taken as specific investment tax or legal advice. None of the information on this broadcast was intended to be a solicitation for the purchase or sale of any security. Another information is available by contacting john@sansheswealthmanagement.com or 775-800-1801. John Sanchez offers securities and advisory services through independent financial group LLC, a registered broker, dealer and investment advisor. Member FINRA SIPC securities offered only in states, John Sanchez is registered in Sanchez Wealth Management LLC and independent financial group LLC are unaffiliated entities. Did I hear you're shopping for a car because I've been at it for ages. Such a time-suck, right? Not really. I bought it on Carvana. Super convenient. Oh. Then comes all the financing, research, am I right? Well, you can, but I got pre-qualified for a Carvana autolone in like two minutes. Yeah, but then all the number crunching in terms, right? Nope. I saw real numbers as I shopped, found my dream car, and got it in a couple of days. Wait, like you already have it? Yep. Go to Carvana.com to finance your car the convenient way.