DHUnplugged Podcast

TECH on fire - Bulls overjoyed! Hedge Funds - Making some moves - Surprising Year of Pharma? To The Moon - Crypto Style Valuations getting frothy? PLUS we are now on Spotify and Amazon Music/Podcasts! Click HERE for Show Notes and Links DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar. Love the Show? Then how about a Donation? Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter Warm Up - Pays to Follow Pelosi! - Landing on the Moon - then falling over - Japan - something not kosher - New See-through laptop screens Market Update - TECH on fire - Bulls overjoyed! - Hedge Funds - Making some moves - Surprising - Year of Pharma? - To The Moon - Crypto Style - Valuations getting frothy Froth-a-Bubble- Icous? - There is some concern at Apollo regarding a bubble in S&P 500 - The top 10 companies in the S&P 500 today are more overvalued than the top 10 companies were during the tech bubble in the mid-1990s, see chart below. - Different makeup back in 1999 - but still of interest asa the S&P500 reaches levels (P/E) at the high end of the ranges. - SEE LINK Smart Money? - Hedge funds piled into tech stocks in the weeks before Nvidia Corp. earnings. Now, they’re cashing out and selling at the fastest pace in seven months. - Professional managers offloaded their positions for four straight sessions last week, including Thursday, the day after Nvidia posted results, according to data from Goldman Sachs Group Inc.’s prime-brokerage unit. The intensity of the selling ranks in the 98th - he data suggests traders are booking profits on their tech wagers after a six-week buying streak and putting that extra cash into less volatile stocks, such as consumer staples. - SEE LINK Nancy! - NEWS MONDAY: PANW - Palo Alto Networks shares higher by 9% after Rep. Nancy Pelosi reported Friday afternoon the purchase of 70 call options (purchases made 2/12 and 2/21) - Stock moved down 27% after earnings last week - In fairness, the purchases on 2/12 are very underwater - AH picked this for the game right after post-earnings slump Earnings - Zoom - Zoom shares rose as much as 13% in extended trading on Monday after the video chat software vendor announced fiscal fourth-quarter results that topped analysts' expectations. - Here's how the company did, compared with consensus among analysts polled by LSEG: - -- - Earnings per share: $1.22, adjusted vs. $1.15 expected - - - -Revenue: $1.15 billion vs. $1.13 billion expected Disney -Walt Disneyshareholder Blackwells Capital is calling for it to come up with an artificial intelligence (AI) strategy, saying that this could lift the U.S. media and entertainment conglomerate's stock price by as much as 129%. Blackwells is one of two activist investors pushing for board seats What Goes Up... - Intuitive Machines Inc. shares sink Monday, after the spacecraft company said its lander, which successfully touched down on the moon last week, likely landed on its side. - The landing was touted as the first by a private-sector company to reach the moon intact, as well as the first US spacecraft to reach the moon’s surface since 1972. - In a Monday update, the company wrote that “flight controllers intend to collect data until the lander’s solar panels are no longer exposed to light,” and that “based on Earth and Moon positioning, we believe flight controllers will continue to communicate with Odysseus until Tuesday morning.” - Stock down 33% on this news Japan - Markets at new highs - Yen weak weak weak - Government keeps ultra-loose monetary policy - Recession official - Something is not right over there More Japan - Federal prosecutors in New York on Wednesday said they had charged a Japanese Yakuza leader with conspiring to traffic nuclear materials from Burma to other countries. - Prosecutors said the accused gangster Takeshi Ebisawa "and his confederates showed sa...

Japan makes surprise crypto move. AI dating coaches are coming - Markets plunge - then rebound nicely - AI Buying AI stuff - Cure for Frostbite? PLUS we are now on Spotify and Amazon Music/Podcasts! Click HERE for Show Notes and Links DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar. Love the Show? Then how about a Donation? Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter Warm Up - AI dating coaches are coming - Markets plunge - then rebound nicely - AI Buying AI stuff - Cure for Frostbite? - AMAZING AMAZON Market Update - Japan - really pumping the risk assets - China government making $$ moves - China: Latest Problem: Lying Flat - Whoops - What is an extra ZERO anyway? Follow Up---- - USA CPI came out HOT! - January PPI increased by 0.3% (Briefing.com consensus 0.1%), with the previous figure revised to -0.1% from -0.2%. Meanwhile, January Core PPI rose by 0.5% (Briefing.com consensus 0.1%), and the prior number was revised to -0.1% from 0.0%. - The significant message from the report aligns with the conclusion drawn from the unexpectedly high January CPI report: whether the market opts to overlook this data due to seasonal adjustments, the Federal Reserve is unlikely to dismiss it. - The Fed is likely to perceive it as a reason to maintain a patient approach in terms of potential rate cuts. Market Hysteria - The Russell 2000, sank 4% on Tuesday, but ultimately settled 1.1% higher on the week. The market-cap weighted S&P 500 declined 0.4% this week, but the equal-weighted S&P 500 jumped 0.7%. - The Russell was DOWN 4% on Tuesday after the hotter than expected CPI report. - In addition to the hot CPI reading, market participants also digested a below-consensus Retail Sales report for January, an unexpected drop in jobless claims to 212,000, and a hotter-than-expected PPI report for January. -The 2-yr note yield settled 15 basis points higher this week to 4.65% in response to this week's data and the 10-yr note yield rose 11 basis points this week to 4.30%. (Briefing.com) Japan Crypto News - Japan inched closer to allowing venture capital firms and other investment funds to hold digital assets directly, after Prime Minister Fumio Kishida’s administration agreed to submit a revised bill to implement the change. - His cabinet approved the text of a bill on Feb. 16 that seeks to partially amend the country’s industrial competitiveness enhancement act, according to a statement published on the Ministry of Economy, Trade and Industry’s website. The bill states that “measures will be taken to add cryptoassets to the list of assets that can be acquired and held by investment limited partnerships,” referring to a vehicle used by venture capital firms to secure capital for investments. China - China’s southern province of Hainan moved to cut down-payment ratio for first-time homebuyers, the latest region in the country to ease mortgage policies to boost slumping home sales. - Minimum down payment for first homes was cut to 20% from 25%, according to a Monday report by Hainan Daily. The ratio for second homes remains unchanged at 30%, the outlet reported, citing a government notice without saying when the measure would go into effect. More China - China's market opened after the long Lunar New Year break with a thud. - China looks to be still buying directly into markets to prop up - Reports about pre-pandemic level spending on goods and travel, especially during the Lunar New Year did not lift the mood much China's Newest Concern: Lie Flat - "lie flat", a Chinese term used to describe people who work just enough to afford to spend their time on what they enjoy. ---- Not like Japan Inc of the 1980's - Although there is no data on how many young Chinese are opting out of corporate jobs that they traditionally would have taken, the youth jobless rate rose to a record high of 21.

SUPERBOWL Mania. Bitcoin Fever is back HUGE week for economic reports Altman looking for $ Winner for SAVE CTP announced PLUS we are now on Spotify and Amazon Music/Podcasts! Click HERE for Show Notes and Links DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar. Love the Show? Then how about a Donation? Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter Warm Up - SUPERBOWL Mania - Bitcoin Fever is back - HUGE week for economic reports - Altman looking for $ - Winner for SAVE CTP Market Update - 3-Day Rule (Buy after plunge) - Made up Nonsense - Get out your 5,000 Hats! - Disney Earnings - Good Stuff - ARM Blowout - CPI Report Meltdown S&P 500 Breaks 5,000! - All time high - The S&P 500 continues to hit fresh milestones with a first-ever break above the 5,000 level, its valuation is reaching new heights as well. - PE - forward price-to-earnings ratio -- a commonly used metric to value stocks -- this week rose to 20.4 times, a level last reached in February 2022, according to LSEG Datastream. - That puts it far above the index’s historic average of 15.7. - Expectations are for 9.7% earnings growth for 2024 - "The good news is that valuations, while stretched ... are nowhere near the 28x peak at the Y2K Bubble Top," Emanuel said. ???? Follow Up---- - CPI came out HOT! - YoY 3.1% for CPU and 3.9% for Core - The food index was up 0.4% month-over-month and up 2.6% year-over-year. - The energy index was down 0.9% month-over-month and down 4.6% year-over-year. - The used cars and trucks index decreased 3.4% month-over-month and was down 3.5% year-over-year. - The shelter index was up 0.6% month-over-month and up 6.0% year-over-year. - The all items index less shelter was up 1.5% year-over-year. ----- Markets hit after reports - gained a bit back toward end of the session - but overbought and hot CPI don't mix --- Small Caps down 4%, NAZ down 2% S&P down 1.4% What Does it Mean? - Fed funds futures push any cut until June - 4 cuts are expectations for 2024 (down 7 at the start of the year) Economics this week Economics NVDA - Up, Up, UP - Goldman Target = $800 - NVIDIA surpassed Amazon (AMZN) in market value for a brief period on Monday More NVDA - Company is building a new business unit focused on designing bespoke chips for cloud computing firms and others, including advanced artificial intelligence (AI) processors, nine sources familiar with its plans told Reuters. - The dominant global designer and supplier of AI chips aims to capture a portion of an exploding market for custom AI chips and shield itself from the growing number of companies pursuing alternatives to its products. Altman (ChatGPT) - OpenAI CEO Sam Altman is seeking trillions of dollars in investments to overhaul the global semiconductor industry - Altman has long talked of the supply and demand problem with AI chips - He's considering a project that would increase global chip-building capacity, - Altman could need to raise between $5 trillion and $7 trillion for the endeavor - Reportedly in talks with different investors, including the government of the United Arab Emirates. Waymo Cars Attacked - On Saturday night, a crowd surrounded a white sport utility vehicle that was moving along a street in the city's Chinatown district (San Fran) - A person jumped onto the hood of the Waymo vehicle and broke its windshield. Another person also jumped on the hood 30 seconds later as some in the crowd clapped in approval - Fireworks thrown in car and set on fire. - On previous occasions in San Francisco and Phoenix, Arizona, groups have disrupted the operations of self-driving vehicles, blocking their path, trying to enter the vehicles and jumping on their hoods Amazon - Bezos unloading shares - $2 billion last week - Plans to sell 50 million shares over the next year or so Israel - Downgraded by Moody's

Big Week - AND HOW! Big Caps BIG - Small Caps Small AAPL declined 3.4% on the week while AMZN jumped 8.0% and META gained 20.5%. Shakeup at Morgan Stanley Banking Sector Fears (NYCB) The latest Closest to The Pin. PLUS we are now on Spotify and Amazon Music/Podcasts! Click HERE for Show Notes and Links DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar. Love the Show? Then how about a Donation? Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter Warm Up - Big Week - AND HOW! - Big Caps BIG - Small Caps Small (Regional Bank woes) --- AAPL declined 3.4% on the week while AMZN jumped 8.0% and META gained 20.5%. - Shakeup at Morgan Stanley - Banking Sector Fears (NYCB) - AI induced euphoria - is that a thing? Market intoxicated on it. Market Update - Powell was Hawkish - Markets Didn't Care (past Wednesday) - HUGE Employment Surprise - Market Didn't Care (after 10 minutes) - META/Facebook Earning - Yes Markets cared - all day Friday - Undercurrent of something happening (Region Bank breakdown - NYCB) - China comes out strong with market supportive measures - market rallies 5% Employment Report - Much hotter than anticipated - Treasury Yields and the USD spiked - Unemployment rate at 3.7% (expected to tick up to 3.8% - Briefing.com: This report is not likely to persuade the FOMC to cut rates as soon, or as much, as the market had hoped. As a result, the fed funds futures market repriced the probability of a 25-basis points rate cut at the March FOMC meeting to 20.5% (from 38.0% yesterday and 47.6% one week ago) while the probability of a 25-basis points rate cut at the May FOMC meeting has been reduced to 74% (from 93.8% yesterday), according to the CME FedWatch Tool. - markets were a bit flushed on the initial report but tossed it aside and preferred to focus on META earnings Rate Cut Odd for MARCH - As a result of the Fed meeting and employment report, the fed funds futures market repriced the probability of a 25-basis points rate cut at the March FOMC meeting to 20.5% (from 38.0% yesterday and 47.6% one week ago) while the probability of a 25-basis points rate cut at the May FOMC meeting has been reduced to 74% (from 93.8% yesterday), SO REACHING - Chicago Fed President Austan Goolsbee said Friday that while the January job report was impressive on the surface, underlying details were not as strong. - “The headline number was almost breathtaking,” Goolsbee said in an interview on the “PBS NewsHour” program. - “If you peel back the onion a little bit, it’s not as strong as that headline number advertises … but it’s still very strong,” he said. - In particular, he noted that hours worked fell 0.2% last month despite the jump in net new jobs. Amazon - Blowout - Earnings per share: $1.00 vs. 80 cents expected by LSEG - Revenue: $170 billion vs. $166.2 billion expected - Amazon Web Services: $24.2 billion vs. $24.2 billion, according to StreetAccount - Advertising: $14.7 billion vs. $14.2 billion, according to StreetAccount - Amazon said first-quarter sales will be between $138 billion and $143.5 billion, representing growth of 8% to 13%. Analysts were expecting revenue of $142.1 billion, according to analysts. META - BLOW-OOOUUUUTTTT - MetaPlatforms beats by $0.51, beats on revs; guides Q1 revs above consensus; - FY24 total expense guidance unchanged at $94-$99 bln, - CapEx guidance of $30-$37 bln, up $2.0 bln at high end; - They stopped spending on META. - Initiates quarterly dividend of $0.50/share, also announces $50 bln increase to share repurchase program. - Stock up 21% Apple Earnings - headline: Apple beats by $0.08, beats on revs; iPhones and services beat; China revenue declines 13.1% - Magic words: CEO Tim Cook thinks there is a huge opportunity to for Apple on AI, but he does not want to get ahead of things. - Apple reports Q1 iPhone revenue of $69.

HUGE Earnings - Most impactful week of quarter. China continues to try to save markets Push Back? Powell Meets Markets Wednesday. PCE - FED FAV - The Latest. Announcing a new Closest to The Pin. PLUS we are now on Spotify and Amazon Music/Podcasts! Click HERE for Show Notes and Links DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar. Love the Show? Then how about a Donation? Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter Warm Up - Jury Duty? - Big Week for ECO - Jobs Report Friday - Penmanship - making a comeback? - Is this a Capitulation Moment - China? -- War Brewing - Dragging US into Mid-East Conflict? Market Update - HUGE Earnings - Most impactful week of quarter - China continues to try to save markets - Push Back? Powell Meets Markets Wednesday - PCE - FED FAV - The Latest PODCAST DEAL - Sirius XM Holdings Inc. has acquired certain exclusive rights to SmartLess, the hit podcast hosted by actors Will Arnett, Jason Bateman and Sean Hayes, as part of a larger deal between the satellite radio company and SmartLess Media. - The three-year accord is worth more than $100 million, according to people familiar with the matter who asked not to be identified. SUPER- Bowl - Tickets to attend the Super Bowl in Las Vegas — a rematch between the 2020 contenders — are the most expensive ever for the event, going for an average $9,815 each so far, according to reseller TickPick. - The price is 70% more than last year’s game, which was held in Arizona. The previous record of $7,046 was set in 2021 in Tampa, Florida, when the game was played at sharply reduced capacity Rate Hike Probabilities - First move for markets from Oct '23 was the HOPE and LOVE of Fed Rate Cuts to come - As soon as March - (The we got the AI 'rager' that helped support Bull markets) - - NOW, Rate CUT hopes fading - markets ignoring facts --- Rate Cut Chart Odds - Fading Rate Cut Odds Reporting this week: - Alphabet, Amazon, Apple, Meta, and Microsoft --- Huge components for NAZ100 and S&P500 Microsoft - Microsoft was expected to report a 15.8% jump in quarterly revenue, its best growth in nearly two years, as rising adoption of its products infused with generative AI fuels demand for its cloud services. -- ACTUAL: ---- Microsoft's Q2 revenue was $62.02 billion, a 16% increase, surpassing the estimate of $61.14 billion. ----- Earnings per share (EPS) were reported at $2.93, beating the consensus by $0.16. -- Stock even A/H Google/Alphabet - GOOGL company achieved a YoY revenue increase of 13.5%, reaching $86.31 billion, surpassing expectations. - Google Advertising reported $65.52 billion in revenue, showing an 11.0% YoY growth but falling short of expecations. -- Stock Down 4% AH More Earnings - TSLA - Horrible! - Earnings per share: 71 cents, adjusted vs. 74 cents expected. - Revenue:$25.17 billion vs. $25.6 billion expected. - Operating margin for the quarter came in at 8.2%, down from the year-ago quarter's figure of 16% - Tesla said in its investor presentation that vehicle volume growth in 2024 "may be notably lower" than last year's growth rate as the company works toward launching its "next-generation vehicle" in Texas. - Stock down 14% on the news ---- Stock market cap still down 40% since purchase of Twitter in 2022 AMD - - Met expectations but guided DOWN - So much for the big rise based on NOTHING! - Stocks DOWN 10% Tech Layoffs - Silicon Valley’s tech companies are slashing headcount at a rapid pace. - Since the start of January, some 23,670 workers have been laid off from 85 tech companies, according to the website Layoffs.fyi. - Some are laying off staff in parts of the business to invest more heavily in developing AI products. China - The China Securities Regulatory Commission has said that investors will no longer be able to lend out shares for trading purpose...

Those margins - not a pretty look. Trouble in Airlines Space while the love for Apple remains. More Stimulus but hidden in the details. Announcing a new Closest to The Pin. PLUS we are now on Spotify and Amazon Music/Podcasts! Click HERE for Show Notes and Links DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar. Love the Show? Then how about a Donation? Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter Warm Up - Trouble in Airlines Space - Apple Love Remains - More Stimulus - Hidden in the Details - BULL TAKE OFF - No Stopping Us Now - Right? (Overconfidence?) Market Update - Bitcoin - Sub $40k on Monday - Why? - Chatter IPO on the way (again) - New Highs for markets - Pulled by a few stocks - And on The Margin - A Margin Crunch - Rates moving up - VIX moving down DONATIONS - HEY it is 2024! NEW HIGHS - A New Bull Market has just been declared. Out of the BEAR as we eclipse the previous high set in 2022. Airlines - JetBlue Airways and Spirit Airlines on Friday said they are appealing a federal judge's ruling issued earlier this week that blocks the two carriers' planned merger on antitrust grounds. - JetBlue had planned to buy Spirit for $3.8 billion in a deal struck in the summer of 2022. A federal judge on Tuesday, however, barred that combination, saying it would eliminate the budget carrier and mean higher prices for cost-conscious consumers. - Spirit drop 62% last week - trying to recover a bit - BUT, if Sprint fails - doesn't that mean that the elimination of a budget carrier could mean higher prices for cost conscious consumers? ---- They will appeal, give concessions and win. ---- Spirit up 90% since low last week Bitcoin Sinking - Bitcoin sub $40,000 on Monday as the sell-off continues - Blaming it on selling of the GrayScale and beig bought in NEW Sppot ETFs - Thought question: If Selling Apple in Fidelity and Buying in Schwab - does that impact share price? Banks Suing The Fed? - Big banks have hired one of the country’s top trial lawyers and are preparing to sue the Federal Reserve — a nearly unthinkable challenge — if sweeping new industry regulations aren’t watered down. - Eugene Scalia, the son of the former Supreme Court justice and a well-known conservative litigator, is quietly drawing up a lawsuit seeking to block the proposed rules on behalf of the Bank Policy Institute, a trade group that represents JPMorgan, Citibank, Goldman Sachs, and others, people familiar with the matter said. - It would be the first time in recent memory that the industry has sued the Fed, and a departure from standard halls-of-power persuasion efforts that try to avoid antagonizing its chief regulator. More Airlines - The U.S. Federal Aviation Administration (FAA) has recommended that airlines operating Boeing 737-900ER jets inspect door plugs to ensure that they are properly secured after some operators reported unspecified issues with bolts upon inspections. - Regulators have stepped up scrutiny on Boeing after a Jan. 5 mid-air panel blowout on an eight-week-old Alaska Airlines MAX 9 jet that left a gaping hole in the aircraft. Boeing has sought to contain the damage, appointing an independent advisor to examine quality control in its manufacturing processes while numerous planes remain grounded. - In its new "Safety Alert for Operators," the FAA said that some airlines had conducted additional inspections on the 737-900ER mid-exit door plugs and had noted "findings with bolts during the maintenance inspections." Apple - - Apple (AAPL.O), opens new tab ended Samsung Electronics' 12-year run as the largest seller of smartphones in the world, after commanding a 20% market share in 2023, according to a report from International Data Corp. - Samsung ended the year with a 19.4% share, followed by China's Xiaomi, Oppo and Transsion,

- BIG News - Apple loses to.... - World Economic Forum Davos Happening - Picking on Rich Peeps AGAIN - let them eat stimulus! - Best of CES? - EVs getting some shade thrown - Bitcoin ETF approved PLUS we are now on Spotify and Amazon Music/Podcasts! Click HERE for Show Notes and Links DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar. Love the Show? Then how about a Donation? Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter Warm Up - BIG News - Apple Loses to.... - World Economic Forum Davos Happening - Picking on Rich Peeps again - Best of CES? - EVs getting some shade thrown - Bitcoin ETF approved Market Update - Natural Gas price on the move - huge jump - 3 downgrades for Apple last week - Bank earnings - mixed, but could say disappoint - Another Stop-gap bill to AVERT a government shutdown Can You Believe this? - Microsoft ended Friday's U.S. trading session as the most valuable publicly traded company, surpassing Apple after briefly topping the iPhone maker during intraday trading on Thursday. - Shares of Microsoft climbed more than 3% for the week, bringing the company's market cap to $2.89 trillion, while Apple's stock dropped by over 3%, lowering its valuation to $2.87 trillion. More Apple - Apple said on Thursday that former Vice President Al Gore will retire from the company's board next month after serving as a director since 2003. - Other: 3 Downgrades last week! (Stock still up 2.5% for the week although down 3.5% for the year 2024 More Wealth News - Just in time for Davos - pick on the rich - LET THEM EAT STIMULUS! - The world's five richest men have more than doubled their vast wealth since 2020, according to an Oxfam report, as the charity calls for curbs on "corporate power." - The report found that the combined fortune of the world's wealthiest people — Tesla CEO Elon Musk, LVMH boss Bernard Arnault and family, Amazon founder Jeff Bezos, Oracle founder Larry Ellison, and veteran investor Warren Buffett — has jumped from $405 billion in March 2020 to $869 billion in November 2023. - Seven of the world's ten biggest companies have a billionaire as their CEO or main shareholder, the report found. Meanwhile, the world's richest 1% of people own 43% of global financial assets, according to the research, such as publicly listed instruments like stocks and bonds, along with stakes in privately-held businesses. - "If current trends continue, the world will have its first trillionaire within a decade but poverty won't be eradicated for another 229 years," Oxfam said. Even MORE Davos - The global economy faces a year of subdued growth prospects and uncertainty stemming from geopolitical strife, tight financing conditions and the disruptive impact of artificial intelligence, a survey of top economists released on Monday found. - Conducted each year ahead of the World Economic Forum's (WEF) annual meeting in the Swiss resort of Davos, the survey of 60-plus chief economists drawn globally from the private and public sectors attempts to sketch priorities for policymakers and business leaders. (meaningless) - Some 56% of those surveyed expect overall global economic conditions to weaken this year, with a high degree of regional divergence. While majorities saw moderate or stronger growth in China and the United States, there was broad consensus that Europe would muster only weak or very weak growth. - The outlook for South Asia and East Asia and Pacific was more positive, with very high majorities expecting at least moderate growth in 2024. - 70% see financial conditions loosening (rate cuts and stimulus) as inflation slows Speaking of Rate Cuts (NOT) - The European Central Bank may defy market expectations and hold off on starting interest rate cuts during the whole of 2024, the institution's Governing Council member Robert Holzmann said Monday.

Announcing the Winner of the CTP Cup 2024! SECURE Act Benefits for 529 Plans China - turn around in gaming rule discussion Boeing Under Pressure - Loose Nuts? PLUS we are now on Spotify and Amazon Music/Podcasts! Click HERE for Show Notes and Links DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar. Love the Show? Then how about a Donation? Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter Warm Up - And we are back - Happy New year - Welcome to 2024 - Announcing the Winner of the CTP Cup 2024! - SECURE Act Benefits for 529 Plans - China - turn around in gaming rule discussion - Boeing Under Pressure - Loose Nuts? Market Update - Worst start to the year since ... 2015 (Whatever that means) - Market continues to have little muscle memory (Still down for the YTD) - CES getting those AI juices flowing again - BITCOIN ETF - News OUT! WELL- HACKED - Changed - WOW!!! ** Start of year 2024 - Looking for you to write dome reviews on Spotify , Apple Podcasts, Amazon Podcasts - Wherever - spread the word people! Start with this!!!!!!! -Bitcoin on the move - 13 companies filed for a spot Bitcoin ETF - Rumors that some decision will be made early this week - Bitcoin tops $47,000 on the news - May be sell the news moment.. ---- 4:15PM TODAY - UPDATE: Today the SEC grants approval for #Bitcoin ETFs for listing on all registered national securities exchanges. The approved Bitcoin ETFs will be subject to ongoing surveillance and compliance measures to ensure continued investor protection. (SEC Titter) --- 4:27PM Bitcoin down - explained as sell the news BUT- Gary Gensler private account: @SECGov twitter account was compromised, and an unauthorized tweet was posted. The SEC has not approved the listing and trading of spot bitcoin exchange-traded products. ---- SO, was this a not approved or a not approved YET???? Podcasts Rule - Killing the Competition (or??) - Radio giant Audacy has filed for bankruptcy protection amid a slump in advertising revenue. - The Philadelphia-based company, which oversees major podcast and radio operations and has acquired CBS Radio, said it has filed a Chapter 11 petition in the U.S. Bankruptcy Court for the Southern District of Texas after a restructuring agreement with a majority of its debtholders. - The agreement will see the company cut roughly 80% of its nearly $2 billion in debt. No Ceiling - The U.S. federal government's total public debt has reached $34 trillion for the first time, the U.S. Treasury Department reported last week. - Each party is blaming the other - Biden plans to reduce U.S. deficits by $2.5 trillion over 10 years by increasing taxes on large corporations and wealthy Americans and cutting spending on pharmaceuticals and tax breaks for oil companies. - Trump wants the tax cuts to be permanent. Bad Start - Traders hoping that a pan-markets year-end rally would pick up where it left off got the opposite on 2024’s first trading day, a session that featured one of the worst-ever concerted drops in stocks and bonds to start a year.| - The SPDR S&P 500 ETF Trust (ticker SPY) and iShares 20+ Year Treasury Bond ETF (TLT) each fell 0.6% Tuesday, the first time they’ve both slumped so much to start the year since the bond gauge began trading in 2002. --- First week was not plesant for most areas of the market - Looks like people were holding on to avoid paying taxes in 2023 (April 2024) ----- Then dumped Starbucks - Starbucks app: Coffee giant accused of rigging payments to the tune of nearly $900 million over 5 years - This is the probelm with gift cards and these plans - so much is forgotten about - “Starbucks rigs its payment platform so consumers are encouraged to leave unspent money on their cards and apps,” said Chris Carter, campaign manager for the group in a statement.

All sorts of good stuff in this episode. From M&A to the quick banking crisis of 2023. Some good laughs and fun throughout the year. Thanks to Ryan Rediske for all the help in putting this together! DHUnplugged is streaming live - with listener chat. Click on link on the right sidebar for access. Love the Show? Then how about a Donation? Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter Follow Ryan on Twitter

Apple watch ban - stock unaffected. A surprise with housing prices. A grab-bag bull phrase being dusted off. PLUS we are now on Spotify and Amazon Music/Podcasts! Click HERE for Show Notes and Links DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar. Love the Show? Then how about a Donation? Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter Warm Up - Slow volume - boring market (you know what they say) - China is testing some market moving ideas - New Year Coming - markets Closed Monday - Another GRAB-BAG Phase - Dusted off.... Market Update - The real Santa Claus rally - the final days - House prices - what? - Boosting Buybacks - One Company - China wrecks markets - for a day Home Price Index - October S&P Case-Shiller Home Price Index 4.9% vs 5.0% consensus - Prior reading was +3.9% Grab-Bag - Bull Phrase - Cash on The Sidelines - The stock market is set to see a significant boost next year, thanks to a record $6 trillion and a growing cash pile in money market funds - according to FundStrat -- (UBERBULL Shop) - - Fundstat's logic: If the Federal Reserve starts cutting interest rates next year, this would hold more true as the risk-free interest rate on money market funds will also fall. This would make holding cash in money market funds less appealing as compared to putting it in the stock market. China - Gamming - Latest: -- China approved 105 domestic games on Monday, the latest indication that Beijing is softening its stance after its move to tighten industry restrictions led to a $80 billion rout last week. --- The titles included those operated by Tencent Holdings Ltd. and NetEase Inc., China’s two leading game publishers that have been pummeled by Beijing’s new rules. Monday’s approvals show the Chinese authorities support the development of online gaming, an industry association said in a post on WeChat republished by the official Xinhua news agency. - What happened a few days earlier - - On Friday, Chinese officials announced new draft rules aimed at limiting how much gamers could spend and restricting rewards that encourage them to spend more time online. - The announcement was a surprise and ended up spooking investors and sending markets into a tailspin. - Games giant Tencent saw its share price drop as much as 16% while the stock of its rival NetEase tumbled a record 28%. Shares of the social-media service Bilibili, which is popular with gamers, tanked 14%. Consumer Sentiment! - December Consumer Confidence 110.7 vs. 104.0 Briefing.com consensus; prior revised to 101.0 from 102.0 - Look at this chart and look at a chart of equity markets - pretty much identical. Wealth Effect is real and will play a significant role in how inflation/disinflation/deflation plays out. Spending Report - Mastercard Spending Pulse reports sales increased 3.1% YoY during the holiday season (Nov 1 trhu Dec 24); NRF predicted spending would increase 3-4% in 2023 - Restaurants (+7.8%), Grocery (+2.1%), and Apparel (+2.4%) had the best performance. - Jewelry (-2.0%) and Electronics (-0.4%) were laggards. China Car Announcement - Nio launched the ET9 EV - The company also confirmed the launch of a low-priced brand called Alps. - Nio will focus on the European market in 2024. - High end is supposedly in competion with the Porche Panarama and the Maybach - The ET9 executive sedan, positioned in the same class as Mercedes Benz’s Maybach and Porsche’s Panamera series, is expected to start delivery in the first quarter of 2025 at an estimated price of 800,000 yuan (S$152,355), Apple Stops Selling Watch - Stock barley budges - Apple on Tuesday appealed a decision to ban imports of its watches based on a complaint from medical monitoring technology company Masimo, after President Joe Biden's administration declined to veto a government tribunal.