The Confidence Bubble Has Popped – Ep. 415

The Confidence Bubble Has Popped – Ep. 415

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FAANG's Took a Big Bite Out of the Market
Another Monday, another big down day for the U.S. stock market, it is turning out to be one hell of a quarter; not all of the declines happening in October. But as I said earlier, it doesn't have to be in October for the market to crash. Today wasn't a Black Monday; certainly the percentage decline wasn't out of the ordinary. Although the FAANG stocks, in particular, there was a big bite taken out of those stocks, and it wasn't just the bite that was taken out of the Apple, which was some of the news that precipitated today's decline. A big down day nonetheless.
NASDAQ Having one of the Worst Quarters Ever
The Dow Jones down just shy of 400 points - 395, or 1.5%. On the lows, we were down better than 500 points. The Russell 2000 closed down just over 30 points - that's a 2% point drop. But the big drop was the NASDAQ - down 219 points, just over 3%, pretty close to the lows of the day. The NASDAQ is now down 12.5% so far this quarter - probably one of the worst quarters ever.

I think the only thing that may slow down the decline is if the Fed skips the December rate hike. Although, even that may not be enough. If the Fed doesn't hike in December, the markets might get worried that the Fed knows something and that the economy is much weaker and therefore earnings will be much weaker, so, to me, i think if the market's going to get a stay of execution from the Fed, it's actually going to have to be a rate cut.
Homebuilder Sentiment Lower Than Expected
There are plenty of other data points that are coming out, both corporate news and news about the overall economy, In particular, today, that I think weighed heavily on the markets. The first one being the Homebuilder Sentiment for November. That came out at 10am. So the markets were already trading based on another piece of news which I will get to. Last month, Homebuilder Sentiment's number was at 68. Now anything above 50 is supposedly O.K. It still means they're optimistic. And the consensus was for Homebuilder Sentiment to stay at 68. Instead, it plunged all the way down to 60. In fact, the range of forecasts went from a low of 66 to a high of 69. That drop, from what I've read, that is bigger than any drop we've had during any month of the last bust that led to the 2008 Financial Crisis. We've never seen a rate of decline like this. Obviously that scared the market. This is just one of the first sentiment indicators that is giving way. Obviously, home sales are imploding so you might expect builders to be a little bit nervous about this, even though they are still somewhat optimistic. But remember, this whole rally is built on confidence and the confidence is going to start going everywhere, In addition to the Homebuilders, you're going to see business confidence, particularly small business confidence, which was at a record high.
Apple Now in a Bear Market
But there was some other particularly bad news that came in before the opening bell, and that one was from Apple. They said they will be cutting production because of lower sales. That decision trickles down, effecting a lot of companies who count on those orders from Apple. The price of Apple is down by 4% on the day. But if you now look at the total drop - just over 20% - and that means the way Wall Street scores it, Apple is now in a bear market.
Facebook Led the Market Down
Of course, not just Apple, the FAANG's in general, the market took a bite out of those guys today. Facebook leading the market down - down another 5.5% on the day. That brings the total decline for this bear market to 40%. In second place is NETFLIX, that was down 5.5%, today so pretty much neck and neck with Facebook. But since its peak, NETFLIX is down 36%. Our Sponsors: * Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com * Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD * Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.com Privacy & Opt-Out: https://redcircle.com/privacy

Jaksot(1085)

Bitcoin Mania Creates Golden Opportunity - Ep 949

Bitcoin Mania Creates Golden Opportunity - Ep 949

Cut your wireless bill to 15 bucks a month at https://mintmobile.com/goldCheck out the exclusive discounts for my audience at https://neolightbed.comRegister for The 2024 MoneyShow in Miami, FL (April 10-12): https://www.miamisymposium.com/speakers/4532d84bf93311d3a5dd00104b96e7b5/peter-schiff/?scode=062042Join my Locals community to get The Pete Schiff Show ad-free! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investSIGN UP FOR MY FREE NEWSLETTER: https://www.europac.comSchiff Gold News: http://www.schiffgold.com/newsBook Store: https://schiffradio.com/booksFollow Peter Schiff on Twitter: http://www.twitter.com/peterschiffFollow Peter Schiff on Instagram: https://instagram.com/peterschiffFollow Peter Schiff on TikTok: https://www.tiktok.com/@peterschiffofficialFollow Peter Schiff on Facebook: http://www.facebook.com/peterschiff Our Sponsors:* Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

1 Maalis 202453min

A Tale of Two Stocks - Ep 948

A Tale of Two Stocks - Ep 948

One-of-a-kind financing program at https://netsuite.com/goldhttps://factormeal.com/goldpeter50 and use code goldpeter50 to get 50% offJoin my Locals community to get The Pete Schiff Show ad-free! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investSIGN UP FOR MY FREE NEWSLETTER: https://www.europac.comSchiff Gold News: http://www.schiffgold.com/newsBook Store: https://schiffradio.com/booksFollow Peter Schiff on Twitter: http://www.twitter.com/peterschiffFollow Peter Schiff on Instagram: https://instagram.com/peterschiffFollow Peter Schiff on TikTok: https://www.tiktok.com/@peterschiffofficialFollow Peter Schiff on Facebook: http://www.facebook.com/peterschiffOur Sponsors:* Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

23 Helmi 202459min

Inflation Threat Is Graver Than Investors Realize - Ep 947

Inflation Threat Is Graver Than Investors Realize - Ep 947

Visit https://indeed.com/peter to start hiring nowCheck out the exclusive discounts for my audience at https://neolightbed.comRegister for The 2024 MoneyShow in Miami, FL (April 10-12): https://www.miamisymposium.com/speakers/4532d84bf93311d3a5dd00104b96e7b5/peter-schiff/?scode=062042Join my Locals community to get The Pete Schiff Show ad-free! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investSIGN UP FOR MY FREE NEWSLETTER: https://www.europac.comSchiff Gold News: http://www.schiffgold.com/newsBook Store: https://schiffradio.com/booksFollow Peter Schiff on Twitter: http://www.twitter.com/peterschiffFollow Peter Schiff on Instagram: https://instagram.com/peterschiffFollow Peter Schiff on TikTok: https://www.tiktok.com/@peterschiffofficialFollow Peter Schiff on Facebook: http://www.facebook.com/peterschiffOur Sponsors:* Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

14 Helmi 202454min

When Jerome Powell Talks, People Shouldn't Listen - Ep 946

When Jerome Powell Talks, People Shouldn't Listen - Ep 946

Visit https://indeed.com/peter to start hiring nowOne-of-a-kind financing program at https://netsuite.com/goldJoin my Locals community to get The Pete Schiff Show ad-free! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investSIGN UP FOR MY FREE NEWSLETTER: https://www.europac.comSchiff Gold News: http://www.schiffgold.com/newsBook Store: https://schiffradio.com/booksFollow Peter Schiff on Twitter: http://www.twitter.com/peterschiffFollow Peter Schiff on Instagram: https://instagram.com/peterschiffFollow Peter Schiff on TikTok: https://www.tiktok.com/@peterschiffofficialFollow Peter Schiff on Facebook: http://www.facebook.com/peterschiffOur Sponsors:* Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

7 Helmi 202456min

Another BS Jobs Report From the Gov't - Ep 945

Another BS Jobs Report From the Gov't - Ep 945

Check out the exclusive discounts for my audience at https://neolightbed.comJoin my Locals community to get The Pete Schiff Show ad-free! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investSIGN UP FOR MY FREE NEWSLETTER: https://www.europac.comSchiff Gold News: http://www.schiffgold.com/newsBook Store: https://schiffradio.com/booksFollow Peter Schiff on Twitter: http://www.twitter.com/peterschiffFollow Peter Schiff on Instagram: https://instagram.com/peterschiffFollow Peter Schiff on TikTok: https://www.tiktok.com/@peterschiffofficialFollow Peter Schiff on Facebook: http://www.facebook.com/peterschiffOur Sponsors:* Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

3 Helmi 202450min

Powell Rains on March Rate Cut Parade - Ep 944

Powell Rains on March Rate Cut Parade - Ep 944

Cut your wireless bill to 15 bucks a month at https://mintmobile.com/goldJoin my Locals community to get The Pete Schiff Show ad-free! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investSIGN UP FOR MY FREE NEWSLETTER: https://www.europac.comSchiff Gold News: http://www.schiffgold.com/newsBook Store: https://schiffradio.com/booksFollow Peter Schiff on Twitter: http://www.twitter.com/peterschiffFollow Peter Schiff on Instagram: https://instagram.com/peterschiffFollow Peter Schiff on TikTok: https://www.tiktok.com/@peterschiffofficialFollow Peter Schiff on Facebook: http://www.facebook.com/peterschiffOur Sponsors:* Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

1 Helmi 202450min

Despite the Data, Economy May Already Be in Recession - Ep 943

Despite the Data, Economy May Already Be in Recession - Ep 943

One-of-a-kind financing program at https://netsuite.com/goldhttps://factormeals.com/goldpeter50 and use code goldpeter50 to get 50% offJoin my Locals community to get The Pete Schiff Show ad-free! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investSIGN UP FOR MY FREE NEWSLETTER: https://www.europac.comSchiff Gold News: http://www.schiffgold.com/newsBook Store: https://schiffradio.com/booksFollow Peter Schiff on Twitter: http://www.twitter.com/peterschiffFollow Peter Schiff on Instagram: https://instagram.com/peterschiffFollow Peter Schiff on TikTok: https://www.tiktok.com/@peterschiffofficOur Sponsors:* Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

27 Tammi 202454min

Markets Are Poised to Confound Investors - Ep 942

Markets Are Poised to Confound Investors - Ep 942

Sign up for a $1/month trial period at https://shopify.com/goldRegister for The Microcap Conference at https://themicrocapconference.comJoin my Locals community to get The Pete Schiff Show ad-free! Plus get access to special live reports and Q&As. Visit https://schiffradio.com/premium to become a member.Invest like me: https://schiffradio.com/investSIGN UP FOR MY FREE NEWSLETTER: https://www.europac.comSchiff Gold News: http://www.schiffgold.com/newsBook Store: https://schiffradio.com/booksFollow Peter Schiff on Twitter: http://www.twitter.com/peterschiffFollow Peter Schiff on Instagram: https://instagram.com/peterschiffFollow Peter Schiff on TikTok: https://www.tiktok.com/@peterschiffofficialFollow Peter Schiff on Facebook: http://www.facebook.com/peterschiffOur Sponsors:* Check out FRE and use my code LISTEN20 for a great deal: https://frepouch.com* Check out Infinite Epigenetics: https://infiniteepigenetics.com/GOLD* Check out Justin Wine and use my code SCHIFF20 for a great deal: https://www.justinwine.comPrivacy & Opt-Out: https://redcircle.com/privacy

20 Tammi 202454min

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