The Jon Sanchez Show

11/1-The week on Wall Street

Tech earnings dominated the week on Wall Street. Then, we had a bizarre Non-Farm Payroll report this morning. And finally, bond yields surged. What is the market telling us? Are you ready for next week with the presidential election? We’ll explain it all

Duration:: 35m
Broadcast on:: 01 Nov 2024
Audio Format:: other

But there's only one feeling like knowing your banker personally, like growing up with a bank you can count on, like being sure what you've earned is safe, secure, and local. There's only one feeling like knowing you're supporting your community. You deserve more from a bank. You deserve an institution that stood strong for generations. Bank of Colorado, there's only one. Number FDIC. Good Friday afternoon to you. Welcome to the John Sanchez Show on his talk. 780 kwhchits. I'll pull a leisure to be with you and I'll pull a leisure to be with my co-host Jason gone to Sanchez. Wealth management. Big Jay. How are we doing? Happy Friday afternoon. My friend. Happy Friday afternoon. You have to be excited. You have to be excited about this new addition to your market. Oh my gosh. Right. I'm thrilled. I am thrilled. I'm thrilled. It's going to just add more volatility to you. Yeah. That's what you like. So that's good stuff. Yes, I do. My friend. Yes, I do. Well, let the cat out of the bag before we even get started. The big news that just happened 30 minutes or so ago, laid on us. The Dow Jones industrial average is seen in video become a part of the party and it's kicking out Intel who seems like the drunk at the party and I'd say semi for semi. That's overall probably a big win for the index in terms of the player, but yeah, it's exciting things. You got to kick out the old and bring it in new and booting the company Dow out and adding Sherwin Williams. Look at that. Sure. Williams. That's so nice. Yeah. That's interesting. Every once in a while, I always say Dow D.O.W kind, but I need to do the, the companies. Yeah. I might just get rid of them. Yeah, exactly. Yeah, it's good. That makes me happy. Yeah. Absolutely. Well, let's tell you the tell you folks what the reaction is. So in the video, let's hit that one, finished up $2.64 a 1.99 percent gain to 135.40. Once this news came out a little while ago, well, well after the stock market closed, the video is now moving up $4.04 in the after hours, 2.98 percent to now 190 or excuse me, 139.38. Let's go, Sherwin Williams here and see all those managers benchmarked to the Dow. Yes. Yes. Yes. There's none. Right. Right. Well, you got that one ETF. Right at the ETFs, I guess. Yeah. Yes. Exactly. Yeah. Four of Williams finished the day down 80 cents, 0.22 percent to 3.57, 97. Right now in the after hours, up $15.03, 4.2 percent gain to 3.73 a share. So yeah, I'm going to see that and that's going to be November the seventh, if I remember correctly. Okay. Cool. Awesome. Yeah. So a few days after the election. Yeah. They like sticking in those bigger price names, you know, so they can move a little bit. Yeah. Yeah, absolutely. Absolutely. You know, I'm glad to see the, you know, S&P Dow company, the owners of the Dow Jones Industrial Leverage, NDC, Licensing, et cetera. I'm glad to see that they're making changes periodically because it is needed. You know, I, you look at this thing and you study it and you go, I mean, maybe this, you know, in app, you know, here you are at Intel, you know, $2,122 stock. It's nice to see, again, a company that is doing much better and you also wonder, of course, Jason, you know, how much of it is, hey, we want to get this index moving higher, right? Sure. We want to get it, you know, again, when I got started in this business, it was a little over 2000. Here we are at 42,052 today, gosh, maybe some of those predictions of Dow 100,000 over the next, what, 10 years, I think it's the latest predictions is going to come true, you know, it's just within video. Never know. Yeah. Get the right stocks in there and, you know, anything is possible by me. So that's how excited it was when Apple got added and Amazon got added, right? Those were some of the latest ones. Amazon. Have a day today, huh? What a day today. What a day today. Well, before we get to that, let's kind of tell everybody what we're going to chat about this afternoon. It was a crazy day today. Excuse us. If we talk fast, we're both kind of hyped up. It was one of those days where there was so much information, really, it was no different than this week. I mean, this week was just absolutely crazy. I am so thrilled that the day is almost over and build it literally take a breather because it was every time you turn around, there was, you know, some good news, some bad news, throwing at you. But man, what a week of earnings and, you know, market sell-off yesterday with meta and Microsoft. And then, you know, those stocks come back a bit today and, and then, you know, to Jason's point, we had Apple and Amazon report after the close yesterday and watched those things trade like a crazy fashion today, especially on the Amazon side, not so much on the Apple side. But, yeah, it was an amazing, amazing week and when that I'm going to remember for quite some time. And then, you know, I think the bottom line, this is, this is everybody's way of just priming us and getting us in shape for what's going to happen next week, you know. What's going on next week? We had non-front payrolls today. Oh, yeah. A crazy non-front payroll number. Yeah. It was. I mean, a dud. A dud. A dud. The thing that, the thing that kind of geeks me out a bit is, is interest rates. I mean, the 10-year, up at 4.36. So I guess it doesn't matter whether economic data is good or bad rates just go up, huh? You know, I'm going to, I'm going to lift the cat out of bag a little bit here. So let's tell everybody this to jump to that one. So, Jason, talking about the 10-year yield, eight basis point increase today, 4.36% up 13 basis points for the week. Now this is on top of, you know, the month of October, it was up almost a half a percent, right? You attack on a few more points today, another eight basis points. And so I get a frantic phone call from Dwight today, Jason. I didn't get a chance to tell you and you could just hear it in the poor man's voice. He's like, can you please explain to me, he says, I am getting inundated with phone calls. Can you please explain to me exactly what happened, why this, you know, shot up like it did. So first of all, the 30-year mortgage actually finished unchanged, which is bizarre, according to mortgage news daily, 7.09%. So same as it was yesterday. And I think, you know, with that said, I'll explain and then Jason will explain, you know, what happened today? So we got to go back to 5.30 this morning. We had the non-farm payroll numbers come in and we're going to have time permitting. I can't promise we're going to get to the details because we got so many things to go over. Like Jason said, it was a dead, 12,000 jobs, that was all that was created in the month of October. Wall Street's expectation about 100,000 jobs. What I kept mentioning on the stock updates, Jay, when I was going through this this morning is, you know, if you go into the details, okay, so again, 12,000, 512,000 of those jobs, or excuse me, 512,000 people were not counted as employed that were affected by the two hurricanes. So you got to factor that in. And then secondly, you had 22,000 people that were not counted as employed because of the various, you know, strikes, the Boeing strikes and so on and so forth. And I don't think the Longman's or Longshoreman's strike got impact. No. But so, you know, so here you are, you know, sitting with what 534,000 people that really are counted as unemployed that really aren't. So when this report came out and, you know, my heart dropped on, I saw 12,000 and like, oh, wait a minute here. And then of course, you know, every kind of took a deep breath and started digging into the report. But the reaction to the bond market today, and this is, you know, I'm curious to get your take on it. I think it's going to be the same as mine. You know, what I told Dwight is, look at you've got, and we have said this so many times you and I on the show, you've got this bond market, Jason, that of course is such a, usually a fairly accurate predictor of what's coming down the pike. And as I think you and I discussed on Wednesday, you've got two candidates. One's going to win eventually, and both of them have, you know, programs and things that they want to implement that no matter how you slice or dice it, it's going to increase inflation, right? Whether it's Harris's give, give, give, give, give, or Trump territory of tariffs, but again, both of their programs and various aspects of their programs are going to increase inflation. So if you are a bond trader, you do not want to be holding bonds in a, you know, a foreseeable inflationary environment. And then we come back and we go back to the Fed. Now we have a Fed interest rate decision next week, again, street price and then a quarter percent for November, quarter percent for December, big deal. That's going to be like spitting in the wind. Look at the market reaction, how much higher we are, after a half a percent cut, what do you think it's going to do with a quarter percent? It's going to yawn and go, okay, now what? So you know, it's really folks about the bond traders thinking that inflation is going to be a problem coming up. You know, hopefully it will know, you know, by next Wednesday at the latest, what's going to happen? And I think Jason, I think what's going to be really interesting is what the bond market reaction is going to be again, once the candidate is, what's the new president is known? So China? Yeah, no, I think you're spot on. I also think, you know, you've got, remember, this is 10 years, right? So this is the market, remember, the Fed controls overnight rates. That's all they control. Yes, they can jawbone, you know, the next year or so, but ultimately they don't control the market's view of where inflation is going to be 10 years from now. And you know, we've got all the conspiracy theories of, you know, I mean, facts of US debt, but you know, global central bank selling currency, selling dollars. And I want to touch on things like that. Remember, just because a central bank is selling US treasuries, that doesn't mean they hate US economy or US debt, remember, the mechanism to support your currency, right? If my currency is falling, what am I doing? Right now I own dollars that I buy US treasuries with. Well, if I need to sell dollars to buy my currency to keep it supported like a Japan, for example, you need to sell US treasuries first, which you own on your balance sheet to then take delivery of US dollars in order to then sell those dollars to go buy yen. That supports your currency. So that's the mechanism. It doesn't necessarily mean we're bad. It could mean they're bad. We're just good money. China's great example. Great. China's exactly the same. And I was listening to an awesome podcast yesterday where they were talking about, you know, looking at the balance sheet of central banks and it going down in US treasuries over the last couple years, the thing that you don't that people don't pay attention to, what did US treasuries do over the last couple years? They got destroyed, right? Because interest rates went from 0 1% to 4 5%. In many cases, you're looking at the notional value of the bonds on their balance sheet that lost value over the last couple years, not necessarily them selling and that you go look at actual holdings and physical number of treasuries. It doesn't look anything like the charts look like, oh my gosh, China's dumping. China owns bonds that went down, right? We talked about 10 year, 20, 30 year bonds down 50% because interest rates went from 0 to 5 or 4. And that is another big, big part that people sort of see the chart and don't pay attention to the data that it is more just a function of prices of bonds that went down a lot. Yeah, whenever China's trying to support the yuan or Japan's trying to support the yen, they got to sell bonds to buy their own currency and that's a function of a lot of what you're seeing and maybe some of why rates keep going up because you've explained so well in the past, right? The rates up price down and that is really a bit of what we're seeing. Well, I think real quick before we go to break, I think the other big takeaway that deserves some discussion is it wasn't just the 10 year, which again, as we've discussed many times, so many different types of mortgage, not so much mortgages, they followed a little bit but a whole another discussion, but a lot of different lending institutions, we'll see what that 10 years do and to determine their rate, they're going to charge the consumers, just making things really simple. But my point is, this increase that we saw today or this week, excuse me, 13 basis point increase like I said on the 10 year, but Jason, it was across the board, the two year was up 10 basis points for the week, the three year was up 14, the five year up 16. So there's what you're saying as far as the Fed controlling the shorter into the curve, and then you've got the 30 year kind of a yonder of six basis points. So it's spread across the board of re of yields going up everywhere, which means rates are going to go up because again, these traders are concerned about inflation. And now everyone's going, whoa, why in the world did the Fed give us an interest rate cut of a half a percent? Did they not see this coming? So now there's all kinds of new criticism about the Fed and oh, it's just, it's just an ongoing, upward sloping is correct. This is what normal is we're getting to normal. It's been weird for two years. This is now getting back to normal way to put it. All right. Well, she is definitely normal and so great to have her back and that is Kristin Snow. She's in the right now traffic center. Happy Friday, my dear. You deserve it. You deserve it. Welcome back to the John Sanchez show on news talk 780 k oh it's what Jason got. We finished up to 89 on the Dow. You think that sounds pretty good? We're up over 500 at our best level. That was a 0.69% finish at 42,052 now as I gained 144, it was up well over 200 at its best level, 0.80% rise and the S&P higher by 23 points are 0.41%. Oil prices quiet, three tenths of a percent gained 69.52 Jason GC and in here over these last I'll call it 24 hours that oil traders, everybody's now, you know what I'm gonna say? Now concerned, retaliation from Iran back to Israel for the latest attacks, so ping pong match. It is a ping pong match for dad, I'd like to say goal prices, I'm just gonna say flat. They're just fractionally lower 274920 and as we send an eight basis point increase on the 10 year finishing out a yield of 4.36%. Let's go over Amazon. Obviously, one of the big winners of today, finished up the day, $11.53 higher, 6.2%, $197.93. I think that was a little short cover rally, do you think that was legit? I think it was legit, I mean, again, I think if you're trying to go after areas of the market that are sexy, you've got someone who can control price, right, look to bring down prices to consumers on the normal standard Amazon side, but you've got the back door play of all things AI, cloud, and you know, Jassy, I think, said everything that people wanted to hear as far as the call was concerned, again, they talked about focusing on much like meta and others said that we're gonna have to spend a fair amount of money because the downside of not is far, far greater than, you know, I mean, the number of CEOs I've heard talk about this being a generational opportunity, both on the business side, but also just on what this technology is gonna provide is, you know, they certainly are gonna be one of the handful of companies that'll be in the catbird seat and, you know, Amazon isn't incredibly expensive relative to some of the others. So I think Google and Amazon are probably the standouts as far as saying the right things and at least getting investors excited coming out of earnings season. So yeah, it was a good number and you probably see more chasing, I would expect of that stock over the next couple weeks. Isn't it bizarre, though, that Amazon had such strong cloud numbers, but Microsoft didn't? Yeah, I mean, I think they sell to different businesses, right? Amazon's gonna face more probably small businesses, or rather, Microsoft's gonna face more small businesses like ours, right? Or retail single consumers where Amazon, people aren't using AWS for their day-to-day usage, right? So they are charging more into the corporate level. They can get these three to five-year contract-type setups, right, where, you know, I mean, we're Microsoft users, we use teams, we use OneDrive Cloud, et cetera, but we could walk away tomorrow, right? We're not sticky. If someone else was there, whereas Amazon, I think, on the AWS side, it's a much, you know, sort of more, I'd say, a stickier offering, so. Mm-hmm. Exactly. Yeah, I don't know. I don't know if I agree with you as much as I want to. I don't, I just have this gut feeling that today was a lot of chase on Amazon. I just don't know if they've got the confidence of everybody yet, you know what I mean? We've seen this, we've seen this play out many times on Amazon where, you know, they, Meta's earnings were very similar to Amazon's, right? Meta, you know, reported good numbers, but bad guidance because they're going to be spending a lot of money. We've seen that happen with Amazon. Bad, good numbers and like, "Hey, ARCap expending is going to go through the roof," and then they sell the stock up. I, I just, I don't know, I just got a strange feeling that, that this was a lot of chase today. I'm hoping I'm wrong because we own it. Yeah. You know, I love this being on this thing, but, but it's, it's a stock that just seems like it just gets attention and then everybody kind of just brushes it aside. And it's a pretty decent breakout too, right? It is. I mean, if you wanted to go to the technical side, that, that was a big level, that, you know, sort of that it held the 175, 180 level, and if it can break higher, that's why I figured, you know, again, we got a ways to go, but, you know, north of 200 bucks and you got pretty thin air afterwards for a name that is going to be a player for the next five years, right? It's, I don't see them slowing down, maybe I'll eat my words, but I don't see them slowing down in their business, right, with folks sending stuff to their house for shopping and, or, you know, I mean, it is, is much of a, a, a drip on every single person, probably listening to the show, you know, how often are you clicking on Amazon? I mean, heck, you probably click on it as much as you click on your Facebook or LinkedIn, right? Right. And you buy dumb, stupid, exactly, right? And think of the, think of that part, right? And finally, I feel like it's getting a little better because it was terrible at the beginning. But, you know, seeing Aaron Rodgers lose is always fun. But the, you know, the, the, the, the halo of those eyeballs is, I mean, look how much people are clamoring after that. I'm going on there after the show. I have to buy some, some things and, yeah, you can't, you can't not. I mean, honestly, I have a, an easier time, you know, watching my calorie intake than I do buying stuff. Nope. I'm not going to do it today. I'm not in bang. Do you hear from our clients like I do in, in, in, I hear from friends too. It's like, oh, yeah. Yeah. You know, I'm really going to keep my credit card down, except for my wife or, you know, then the wife will say, or when my husband goes on an Amazon buying spree. It's like, it's our mainstay, right? Honestly. Yeah. Right. I started, I mean, I use quick. And as you know, I, I start, I used to track like what each Amazon spend was. And then it became such a nuisance that I just call it Amazon now. Like, what was the bill? Just Amazon. It's just a thing. It's like utility bill. Right. It's exactly what it is. Right. My uncle just put like drugs, tab it. Yeah. Yeah. Right. Right. Because I needed nine dollars with batteries. Yeah. It's amazing. Yeah. Real life. My, my weakness is, is Costco and online. It's Amazon. There's no doubt, but you know, trying to, trying to watch it, but it is tough. All right. When we come back, we've got some somewhat breaking news for you. It came out just a few hours ago. I think it was still during the market activity, if I remember correctly, but the IRS has announced new 401(k) contributions for next year. You're going to be shocked at these numbers. We'll share those with you and continue our discussion on today's market and the week on Wall Street. When we come back. First great enough has news traffic and weather. Hey, great. Welcome back to the John Sanchez Show, a new stock, 780k, which happy Friday to all of you joined, of course, by Jason gun of Sanchez, wealth management, 289 gain on the Dow, 145 on the NASDAQ up, 24, or excuse me, 23 on the S&P 500. All right, before we get to the breaking news that happened a few hours ago, say that breaking news chung in cheek. It feels like it was just a few moments ago, it's days gone so fast. Jason, I want to remind you, we are putting together our next webinar, probably one more after this one that we will be doing, mark your calendar November the 13th, 630 p.m. It's all about how the election results may impact your investment portfolio. My Guinness folks, if you don't recall what happens to the markets, good and bad, depending upon the final results, come join us. We will share with you. We have a lot of data. I've been working on a ton too. Yeah, it's crazy. Yes. Exactly. You want to hit some of the high points we're going to be discussing? Yeah. I mean, just how again, Trump, Paris, hopefully by the time we do our webinar, it will have an answer, but just, you know, positioning portfolios given different agendas, what parts the market can work, what parts of the market probably are going to underperform, some of the traps out there that people tend to fall into, but yeah, a lot of good data for sure on the webinar, it's going to be fun. You betcha. Yeah, we'll be. I mentioned that yesterday. Definitely going to be fun. And we're going to give you actionable steps, obviously, to protect, to grow the portfolio. It's going to be uncertain times, folks, no matter what you think, whatever candidate you're voting for, it's going to be uncertain times. You've got to have a game plan. We've stressed this again, going back to January of this year, Jason, and I gave you this warning that this year was going to be unprecedented as far as market volatility. But it ain't over till it's over. And again, what we've dealt with is really three quarters out of a four quarter game. We've got the fourth quarter, meaning now we know who the president is going to be. Then we've got to start dealing with that. And let me tell you, you're going to get Wall Street strategists and economists and everybody. Right, Jason. Maybe like my prediction is, assuming we get results on November the 5th, so let's just go with that. Or whatever the day it is going to be, literally hours, literally, folks, hours, this is how Wall Street works. Hours afterward, it's finally known who the president is going to be. You will start getting strategists, predictions, economists, everybody and their uncle saying, this is what needs to change. And Jason and I have lived this so many times in our combined 50 plus years of experience, you will see what could be the greatest sector today, the greatest sector changing a heartbeat when there's going to be a new president, right? We saw that happen when Trump got elected. We knew that he didn't like the pharmaceuticals. Things went down. Again, we could go on and on and on. I can't stress to you enough how important this webinar is going to be for all of you to join us and get that game plan ready for the rest of November, December. And then before we know we're going to blink of an eye, it's going to be January. So he may even change his mind by then as to what's, he may even change his mind by then as to, right? Yeah, yeah. Absolutely. No, there's no doubt. There's no doubt about that. You don't know which I had. Sorry. I don't know what I wish I had. A radical agenda. The amount of times I've heard that, like it sounds so cool. Right? Yeah. I wish I had a radical agenda. A-G. It used to be good. Never. Radical. Now it's, yeah. Sorry. I just had to get that out there. I give him. So can't wait to not hear that line anymore. They both have a radical agenda. You have to hear and watch commercials anymore. That's what I'm waiting for. It's going to, I don't know. What do they put? I forget. What, what actually is on the television or YouTube when those aren't on? You know, Viagra commercials. Yeah. Yeah. Weight loss drugs. Yeah. Like, yeah. There'll be a lot for pharmaceuticals of people on, you know, lose weight. My friend, yeah. My friend count on text is going to go to a ton. I'm going to have to start hanging out my cell phone number to just random and ask them if they'll text me because I'm going to feel, you know, kind of alone. Yeah. No more text coming in there. I'll text you. You text me. Yeah. There you go. There you go. Are you up? All right. So how do you sign up for our webinar on November the 13th? How the election results may impact your portfolio? It's pretty simple. Just go to our website. Click on the upcoming events, put in your info and you are in. You are in like Flynn. So we look forward to seeing all of you there. Again, I know it's a ways away, but hey, hi-five to us, Jason. We're getting a head start on this one set just a couple of days before, but yes. We have a Bailey R. Marketing Manager to thank for this. You did an excellent job putting this together and you had so much to do with this. So thank you, my friend. And yeah, this is going to be a great time really looking forward to. Okay. Now, on to the next agenda item, the 2025 401k contribution limits. I like it. I like it because I fall into the age gap that I really get a nice. You do. Wow. Congratulations. Thank you. Like for three years, you get to enjoy it right or two or three years. That's right. Yeah. So in the IRS is released today, the agency increased the employee deferral limit of your under age 50 401k contribution from the current $23,000 to $23,500. Okay. So again, from $23,000 to $23,000 if you're under age 50. Now, of course, this goes to all of you 401ks, 403bs, 457 plans, and the TSPs are the federal thrift savings plans for you government workers. But that's just the beginning in 25. The 401k contribution limits going to remain at $7,500 for savers 50 and older. But now we only go from age 50 to age 60. Why? Because now there is a new provision. If you are age 60 to age 63, you now get to save an additional $11,250. Think about that. I did the math for you folks. Here you go. If you're 60 plus, you can save $34,750. Take that time too, if you're spouse falls into that talking over 70 grand a year, age 50 to 60, you get to put in about 36,000 50 below or below 50, I should say, 23,005. Jason and I, we took when this news broke, we're communicating back and forth and we're like, how did they come up with just three years of it? You know, this is part of the secure 2.0 act, right? So, yeah, it is bizarre, but man, I fell out of my chair when I saw this, it's like, that is a nice chunk of extra catch up. It is. And you, remember, like, those are, if you're able to contribute, right, you can take that out of a taxable account if you have one and move it from taxable account to IRA, right? So you can look to, or, you know, I mean, obviously, 401k contribution wise, you can reduce your, you know, if you're able to take that hit and you can potentially even pull it out of a, an account to live on for, you know, a period of time, that's assets that you could, you know, compound for 10, 20 years before having to really touch for tax reasons. So yeah, it's, there's lots of good strategies that make sense to use that three-year gap to try to fill as much as you can. You're right, right, absolutely. And folks, there's not enough of you saving, at least that's according to Vanguard's latest report. This is kind of interesting, they call it the How America Says Report. It's data that they've acquired from 1,500 plans like 401k, what we call qualified plans and nearly 5 million participants. Listen to this, last year, only 14% of employees deferred the maximum amount into their 401k. That's it. Across the plans, the average 401k deferral rate was estimated at 7.4% last year. And the combined savings rate including, including employer contributions was at 11.7%. So what's that stat again, dude? Yeah. Here we go. Okay. Here we go. So only 14% of employees defer the maximum amount. This is also last year. That surprises me. That's out of 5 million people they pulled. Okay. Then the 401k deferral rate was at an estimated 7.4% according to the same report. So if you take the combined savings rate, you know, that a person does, plus the employer side of it, it was 11.7%. Wow. It's pretty low numbers. Yeah. Yep. They're not listening to the John Sanchez show. No, they're not. Well, I mean, obviously it's a lot of money for folks to be put in a way, right? It depends on where they're at. But, you know, some people who can and don't, I would stress do because, you know, these are things that, you know, assets that you're putting away tax deferred, even if your taxes are 10% or 20%, right? That's 20% more that's compounding at, you know, four, five, six, seven, eight percent a year for 10, 20, exactly, right? You're compounding on money that normally would go to taxes. Yeah. Oh, I'm going to stick it in my savings account and earn 4%. Well, if you can stick it in a money market account inside of your 401k and still earn 4%, and guess what? You got 20% more of it, right? So that's why trying to take advantage of this as much as you possibly can. I assure you, if you forego the third coffee or the, you know, extra trip to -- I mean, not Amazon, nobody can do that. But, you know, if you skip the drive-through, you know, and put away just any amount that you possibly can now, you'll be much happier later when it's compounded and you get -- you can go to the drive-through twice. You know. There you go. And, you know, go to our website, sancheswealthmanager.com and download our risk program, the retirement income savings calculator. This is, you know, it's a budgetary type of program. You can see exactly -- you put in the data, you'll see exactly where your money's going. And again, we run almost all of our clients through this, and it's amazing how we can pinpoint -- not because we're geniuses, but we -- just to announce our advice going, hey, look at, you know, you can cut back here, you can cut back there, and then that savings that you find, then you put that into the 401k on top of what you're already doing. And last point I want to mention, if you didn't know this week, IRS also released new federal income tax brackets, as well as capital gains brackets, estate and gift tax exemption amounts and earned income tax credits. So there's a lot of things coming out of the IRS this week. Let's wrap it up with Kristen Snow in the right now at Traffic Center. Welcome back to the John Sanchez Show and his talk, 780KOH. All right. We'll run it out of time very quickly here, but I want to just kind of wrap things up with two points, Jason. First one I want to do a little trivia with, and the second one, let's do our -- what's the street telling us? First one, a little fun to be here. Take a guess at the amount of money that has been spent, spent, spent by political groups to influence the 2024 election. Influence, to find influence. Yes. Like sending out texts, radical agenda. Yeah, I mean, we'll just call it the funders, the go-knockers, everything. How much? $300 billion. Oh, gosh. No, no, no. All right. Just a 10.6 number. All right. Yeah. 14. But probably $300 billion if you count all the stuff that's not known about that they are doing them. These are just the political groups. Yeah. $14.7 billion. And it just gives me a chance, one more time, to say, if you really want to know how good someone is going to be in Congress, I just wish and hope and pray, but it's not going to happen in my lifetime, that some federal law comes out and says, "Guess what? You cannot spend any money on a campaign. You cannot accept donations. You do it on your own and you're limited to, oh, maybe spending $10,000. Get out there, meet with the people, look them straight in the eye, not TV commercials, not radio commercials. Blah, blah, blah, the budget. When are you going to run? I'm not. I can see it. I'm not going to be an asset and I am not going to do it. I have two thinnest-- I'd vote for you. Without you on. I'd vote for you too. Yeah, I appreciate that. No way. Not in my lifetime. No way. But yeah, it's disgusting. You politicians, you want to solve housing problems and all the crisis facing America and not everything else? Quit wasting money on elections. That's my opinion. $14.7 billion. Think of the problems that could be solved in this country if that money wasn't wasted. My goodness. Drop us up, my friend. What have we got going? I don't know. That was good. I like-- Next Tuesday, we get ISM. The services PMI is going to be a big number, right? That's the part of the-- you know, that's where the Fed struggles with is wages going higher. Job has claims next week, Fed decision on Thursday after the election. Maybe we'll have a president at that point. Tom will tell. But those are the two big items. Obviously, I think there's an election next week as well. Word of advice. 30, 10 seconds. Do not sell if your person doesn't win. That's my word of advice. That can't be any better advice than that one. It's going to be a hell of a week next week, folks. Please be sure to join us each and every day. Don't forget to pick up our podcast, your favorite distributors. Have a great weekend, Jason. Tell us all of you. We'll see you on Monday. 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. 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