Main St Meets Wall St: Breaking News 📰 Politics 🇺🇸 Economics📈

I still back and forth about a housekeeping. That's all. Yeah. Yes, and that is true. And the bed will, you know, I won't be making the bed when I get out of it. Just kind of how it goes. Stock mom, you know the word. I feel like my whole day is off. I don't know why. I admire people who can do that honestly with the bed. Stock mom, you know the rule. The last person that gets up has to make the bed. That's just a rule. That's how it goes. Yeah, make the bed because I know what he's going to say. He's going to say there's too many pillows. And I don't know where they all go. Yeah, this is not normal. It's not a normal bed. The fancy pillows aren't even like on the bed anymore. They're like in the corner, like the, you know, the pretty ones. I just gave up, guys. I just gave up. Just this. I gave up too. It's all right. Just one of the things is you get old or you give up certain things. I mean, I really nobody's coming here and going in our bedroom. So it was more because I'm just neurotic and definitely OCD, A type personality, like things. But I'm getting better. So you're saying there's hope for me yet? Yes, I'm telling you there is. There is. Yes, definitely. And my kids' rooms, my girls, especially my older daughter, like literally, my cleaning lady still cleans their rooms. I know, right now, but she didn't use to, but she does now. And like my older one, like she comes on Friday by like Saturday, her room is trash. I'm like, what the frick happened? Like I just look close the door. I just don't even look. I don't bother looking anymore. It isn't how fast it goes to, to, to from clean to just tornado. You've only gone in there when you thought maybe a cat was in there and a cat was missing. That's it. He backs out and he's like, oh, it's like the woman pulled the guys. I don't go in there. And it's funny because the younger one was so much messier when she was little. And now it's the opposite. He's clean. And my older daughter is complete and utter slob. All right, so here guys, you can hear this, ready? You guys hear that? That's my cat, parloring. I don't know if you can hear it, but he's, he's now trying to force his way on my lap. I tank. All right. Um, well, we might as well get the song going here, right? Here. Oh my god. Can you hear it? Hear it. Why bring my phone? He's happy. He's trying to get on my lap. Um, all right. Well, let's get the song going. Let's get right into it. Um, please quote post the space. Get it out for me. I don't, you know, I don't host very often. So I would appreciate it. We're going to have a good space. And yeah, I've got some economic news for you guys today. Not too crazy this week. Like I told you, it's a quiet week economically. Market did pull back today. We're talking about treasure yields a little bit. Highest. There's highest they've been in decades. So tell you how they're going to impact the market and the economy. And then we will get to the news. Let's go. All right. So remember the quote post, repost rodents, not here, but listen, skill it is here. I have one. It's not like hers, but it works. It's a mini skill. It's for one egg or two eggs. It's not one egg. One egg? Yeah. Yeah, absolutely. You kind of fit two eggs in that thing. I mean, not a chance. All right, guys, please quote post, repost the space. Let's go. 30 minutes. I have come here to chew bubble gum and kick ass. And I'm all out of bubble gum. This is Main Street. Main wall street. With three voices. I'm sick of. Of course, hence the name. Movement. It moves a certain distance. Then it stops. You see, a revolution gets its name by always coming back around in your face. You tried to kill me. You son of a bitch. So welcome to the revolution. All right, stop, mom. And did we have fake news today from was it political again? Yep, political. I came out and they said that President Trump was considering pausing diesel exports for 90 days. And it was a lie. It wasn't true. Of course not. Yeah, political. My god, my cat is so loud, guys. He's literally. He's really loud. Sorry. Here. Yeah, no, they're just a, what a joke. What a just ridiculous day. You should know. You know, anything that they put out is probably fake, fake news crap. Yep, so, yep. So it's not true. The White House came out and said that it wasn't true. White House official says reports that US is considering diesel export ban is fake news. So there you have it. Fake news. Who was the reporter on that? Do you know by chance? Who was the one who broke the scooper, whatever they call it? Let me see if I can find out. Let me let's say that's a good question. Let's say, let's see if we can find out this news. Let's see if we can bring it up for miss. Searching. It's searching. Come on, search faster. Ben, left of your Meredith Lee Hill and Scott Waldman. I took three people to get that wrong. Nice. It was written by Ben, yeah, Ben, Ben, left of your, little, little, I think it's pronounced left of your Murray, Meredith Lee, Hill, Scott Waldman, James Becalus, sometimes called Rachel Shin, had written earlier political pieces that brought her debate over a possible ban, but the September 23rd, preparing a story is by those three reporters above. So it took three idiots to put out fake news. Crackling. Great. It was Ben, Ben, over. Yeah, exactly. Yes, seriously. So yeah, so there you have it, fake news. All right, so we got some economic data today that caused the market to think inflation is coming, getting it going to run even hotter and it also spiked, Treasury yields spiked today. So today we got the US global flash PMIs, manufacturing and services. So manufacturing came in at 57, up from 53.9 in August, and services, which makes up over 70% of our GDP, came in at 58.7, up from 56.5. So they combined composite rows to 58.4 from 56. Both came in much higher than forecast. Manufacturing was expected at 53.6, services around 55.8. So they both came in at multi-year highs. Manufacturing has reached its strongest level since May of 2022. Services, it's strong at nearly five, it's strongest level in nearly five years, guys. So growth accelerated for a fourth, straight month. This is positive, right? Over 50 is expansion. We want expansion. But you know, jump like this means factories and factories and service businesses, you know, restaurants, banks, healthcare, reported stronger new orders, more production output, more hiring, bigger backlogs of work, demand was mainly domestic. And employment in these sectors rose at its fastest pace in more than four years. President Trump promised to make manufacturing great again. He promised to make our economy great again. And this points to exactly that. You know, manufacturing had been cooling a little bit. We were seeing a little bit of a cool, still expansive. But this is a sharp rebound and output grew at the fastest rate since April of 2022. So, you know, higher energy and transport costs also did show up pushing input prices higher though. So this, what it, these, why these numbers matter, they give an early real-time snapshot of the snapshot of the economy before the official GDP numbers come out. So a reading this strong suggests the economy is growing at a solid rate. As in, you know, the S&P global estimate, estimate points to roughly 4% GDP growth for this quarter and around 5% annualized. The Atlanta Fed came out and said the G, they're expecting over 5%. That's their estimate. I don't know if it's going to be this high, but, you know, they give an early real-time snapshot. So, you know, it's good for jobs and businesses, but it also raises inflation because companies are busier supply change, supply change, or stretching again costs, especially energy arising. So, policymakers will watch this closely when deciding interest rates. The Fed pays close attention to this. Stronger than expected activity with rising prices can make further rate cuts, less, any rate cuts less likely, and raise the chance of a rate hike. With this number today, the CME Fed watch tool, what is all the way up to 68.6% that we're getting another rate hike in October at the end of October meeting. So these are flash though. So their preliminary figures based on surveys from the first few weeks of the month. Some numbers come out later and can be revised. So this is why treasuries are up today. Treasuries jumped today because of the strong PMI numbers that we just talked about. It made investors think the economy is running hotter. Inflation risks are rising, so the Fed may need to keep rates higher for longer or do another rate hike. So if bond investors are worried about inflation eroding their dollar, they're going to demand a higher yield to put their money into our bonds to buy our debt. So that's why the yields go up. It's an inverse relationship of people don't want bonds. They have to offer a higher yield to attract investors. So the Treasury yield is the interest rate that the government pays tomorrow. So like I just said, when investors sell bonds or demand higher returns to buy them, bond prices fall, the yields rise. So today's trigger definitely was this S&P flash the PMI. Bigger picture we know yields have been up also because we have energy supply shock from high oil prices and high diesel prices. Oil's back up today, oil bounced back today after falling for about five sessions. The rebound is mostly the same middle east supply risk that kept the prices elevated all year. This is not a new demand shock. That had dropped towards the high 90s on hopes it might reopen. But let me get to this one other thing that I just want to share with you guys. But today the, so today the Iranian president, Masoud, I can't even say his name, Pessa Shikian, he told the UN that Iran will never bow its head or bend the knee. They're ready for diplomacy, he said, but they're not the language of force. So that line also impacted the markets pretty quickly today. Stocks pulled back after he said that and oil did jump because that's again saying they're not going to bow their head or bend the knee and they're holding on as long as they possibly can, even though they don't have much of a structure left. So the market is still treating the conflict in Iran or the war in Iran, whichever one you want to call it as unfinished business. The president Trump said US and Iranian officials had productive talks at the UN, but he also threatened to annihilate Iran if there's no deal. So Iran's president said, you know, again, they're open to diplomacy, but they're not going to negotiate under pressure. So bottom line hire you oil feeds directly into the story of today's PMI as well. Companies report faster rising input costs, especially fuel and transport. This is not one of the reasons the Treasury yields jumped. Investors worry energy inflation is going to stay sticky. They'll keep the Fed hawkish and they'll raise their rates again at the end of October, sorry. And stocks sold off on the same news. Treasury yields oil up. That's it from hot PMI data. So basically I guess just to summarize it, the simple way to think about it, the stock market wants good growth and cooling inflation and lower rates are good for growth stocks. Higher rates are bad because companies have to borrow money to expand, right? So today it got even stronger growth and stickier.