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Alrighty guys so first thing i want to show you here if you go to the front page of cnbc here today right now howdy there folks welcome into today’s video stocks oh man uh that was a rough one out there that was a rough one today okay i want to talk about all the devastation that happened out in the market here today i want to talk about why this is going on we’re

Going to kind of get into this uh wall street plane a little games let’s call it that and then we’ll kind of go from there and also thank you ftx for sponsoring today’s video my official crypto partner if you want to check out ftx check out pin comment tell you a little bit more about them later on in the video so first off here looking at my i have a watch list

That’s retail trader investor stocks all right and you know whatever you use for whether it’s a desktop application like this or whether it’s hungrybull on your your app or whatever i always think it’s cool to add these sorts of stocks even if you don’t own any of these stocks because what you’re going to find is usually when one of these stocks is moving down the

Whole dang group is moving down and so you look at a day like today right you had gme down 10 game gamestop you had amc down nine percent there right the two brothers in in arms you had space virgin galactic which wow virgin black i didn’t even realize it was under uh ten dollars this was a very very hyped stock a few years ago so if you go back to early uh or

Excuse me uh kind of around mid 2021 it was 55 plus a share it was also it went crazy back in february of that year about 54. and then this was its first actual hype cycle which was prior to rona went all the way up to 33 and then obviously rona happened and that stock just you know kind of got just slammed okay because that’s a space related company right you know

It was kind of like a that’s just a tough business and whenever i’ve talked about that one before it’s it’s a it’s a really really tough space and the reason being is because just dealing with space okay i mean the amount of money you have to try to spend and then you know if they can ever get to profitability who knows when the heck that is uh that’s something

I try to explain you know to folks for years and years you look at a stock like skills here today down eight point four percent there that one’s a three dollar stock now uh coin seven and a half percent down wish stock down 7.2 percent here today dr draftkings down 6.6 percent all these are popular uh retail stocks so far down 6.6 percent fubo tv which is you

Know in the sixth range which is pretty interesting actually for fubox they got a really really nice growth that’s six dollar stock here now you’re down six percent right teledoc got hammered seeing teledoc down like that that makes me think arcs down oh yeah sure enough ark’s down five point seven percent c3 ai down big uh hims down about six percent the hood

Down five point seven percent and then arc in etf obviously kathy was etf there the main one down five point seven percent you had clove down five point two percent palantir down over five percent here a day tesla my esl down four point seven percent here today the chef down three point three percent okay the chef did i guess better than most of the retail stocks

But uh still a rough one for the chef and uh real real down 2.9 percent so those are my those are most of the the you know heavy retail stocks all right just absolute devastation out there here today right now if we pull up my stocks i’m watching but don’t own yet watch list uh a lot of devastation out there too not quite as bad but you know you look at a lot of

These stocks i’m watching that you know i might potentially own in the future like a sofi down six point six percent uh square down six percent here today purple down five point five percent that one’s back to flirting with the fives again uh cruisy doozy i’ve owned this one in the past i don’t know right now down four point eight percent there stitch fixed down

4.7 percent lemonade down 4.4 percent mu is under 75 now and uh yeah i mean just a lot a lot of stocks got hit today in stock like amazon down two and a half percent so rh freakishly was up seven percent today i don’t know you know it’s just like uh maybe a little dead cat bounce there travel stocks here today and it’s gonna be a hot travel summer that’s all i

Gotta say that uh uber down four percent hawaiian airlines down three and a half percent win and down three a point three percent airbnb down three percent so you know obviously just a lot of stocks are getting hammered across the board and then we look at big tech here you’re going to notice some pretty damaging things nvidia nvidia seems to whenever the market’s

Moving down huge or up huge it’s moving with the market and pretty heavily down five percent here today obviously we talked about tesla paypal down three point four percent amd down three point three percent shopify down three point three percent uh meadow is the one that held up decent today down point eight percent right so in terms of you know if we look at the

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Indexes here today right obviously the nasdaq down 2.2 percent any time the nasdaq’s down like that it’s going to pull down all these sorts of stocks like if i if you tell me from what i’ve been seeing like you tell me the nasdaq’s down two percent i’m gonna say well russell’s probably down two percent as well and what we’re finding is that that’s generally tends

To be true and here enough uh sure enough you know 2.2 percent rustled down 2.3 percent and then that sends a ton of stocks down essentially you know 5 7 9 okay and um i want to show you a few things now so so you know let’s shout out ftx here and then let’s jump into a few other things i want to show you oh last week i let you guys know that ftx us is now the

Official partner of me jeremy lafave and i am super thrilled about that ftx is the best crypto exchange in the world with no fixed fees but this week i actually want to tell you about sam sam’s the one that founded ftx his story is inspiring and i think he’s setting a great example for many future crypto millionaires and billionaires here today i was just reading

This on bloomberg and insane story about sam okay he’s the founder of ftx five years ago bankman free that’s sam okay he was working for a charitable organization that promoted the then fringe idea of effective altruism using scientific reasoning to figure out how to do the most good for the most people then he spotted a seemingly too good to be true praising mistake

In bitcoin and decided for him this would be the right path to making tons of money and give it away now bank ben freed is one of the richest people in the world with a fortune of more than 20 billion dollars think about how this man’s life has changed in just a short amount of time think about this now okay he is now spending time with folks like steph curry with

People like katy perry leonardo dicaprio the biggest of the biggest politicians want to have meetings with him hear from him and this man has decided to stay true to his roots and give away 99 of his fortune which is something i honestly think is a phenomenal thing and i think most billionaires and folks that get ultra ultra rich i think that’s the best decision

You can make right it’s one thing if you make a few hundred thousand dollars and you have that too and your your kids to inherit your grandchildren or something like that but when you have billions and billions of dollars the right move to make is to give that back to society and not just allow your entire family line to uh just ride around on yachts all day that

Doesn’t give them a purpose in life and i think what sam’s deciding there is a huge thing and i think there’s going to be a lot of people that get very very rich in crypto and i think sam’s decision with giving away his fortune over time i think that’s a great decision that’ll be a great example for other folks that become billionaires because of the crypto space

Which is something that’s obviously happening so i appreciate his story i appreciate the perspective he’s coming from and i’m i’m a proud partner of ftx so if you want to check out ftx go ahead and check out the pinned comment down there when you use my referral code holy smokes you get a free coin when you trade your first ten dollars of crypto so check that out

Below and thank you ftx for sponsoring today’s video as always back to the content alrighty guys so first thing i want to show you here if you go to the front page of cnbc here today right nasdaq drops two percent as investors fear fed hikes will slow the economy okay you know nothing nothing has happened uh there as far as fed fed rate hike said that no one doesn’t

Already expect right we all knew about this yesterday we knew about the day before uh you know and this is why i tell folks a lot of people a lot of times people want to see a day like today where a lot of stocks got absolutely devastating the market’s down two plus percent a lot of people are you know and we’re going to cover this in just a moment a lot of people

Are looking at this and they’re saying you know oh you want to try to pin it on something right you can’t sometimes you can’t pin these moves on something it’s just wall street’s doing what wall street wants to do and if they all want to cash on the same day they’re all going to cash on the same day if they want to get the algorithms going a certain way they’ll get

The algorithms going a certain way you can’t pin it on this or opinion on that because this is all there’s no earth shaking news today there was no like wow can you believe this happened today there was nothing like that but yet you just saw like how many stocks are down three percent five percent seven percent nine percent today there’s a massive list of those

Stocks and you know i mean there’s probably trillions of dollars were lost in in market cap between all the different stocks here today but it has nothing to do with that that’s just a thing to kind of you know i guess you can say to to kind of you know point it on okay now 30-year just crossed five percent i think this is a bigger deal and the thing is with


This i don’t know if this is slowing anytime soon the average rate on the popular 30-year fixed mortgage just crossed five percent now standing at five point zero two percent according to mortgage news daily this is the first time it’s crossed that threshold since 2011. say so you know mortgage rates going up and up and up guys this is definitely a worry for

The housing market i’ve been talking quite a bit about real estate on the channel recently i have and uh and the reason being is i’m looking at your mortgage rates continue to go up and up and up and up and up right and no more these mortgage rates go up obviously that’s going to end up slowing the housing market there’s no there’s no debating that’s so doubting

That right um i always give it to an example like let’s say that mortgage rate doubled tomorrow right to 10 housing would dry up immediately like immediately unless it’s like a super rich person or something like that it has way too much money like housing would be dead overnight essentially um so the more the mortgage rates continue to go up right the more of a

Situation we get in where for folks are going to just be a price out of the market right because prices are already extremely expensive then you add on mortgage rates going up on top of that and a lot of folks just can’t can’t afford that that next property right which puts a situation out there where the rich get richer in that sort of situation as always happens

Because the you know obviously if you’re somebody that’s very very very wealthy you have cash right you could just buy a house cash you don’t even need a 30 year if you don’t want a 30 year but most folks are not in that situation so if you’re talking about the health of the housing market you you have to have homes that people can afford and the more mortgage

Rates go up right and every one percentage point up you can do the math on that and what that changes a 500 000 mortgage for a 400 dollar mortgage for a six hundred thousand dollar mortgage which is what most people live in most people live in homes that are anywhere between three hundred and fifty thousand dollars and about six hundred thousand dollars right and

Obviously those numbers can change depending upon the market but that’s where most folks look and so if you talk about mortgage rates going up then folks that are looking to buy homes it’s just it’s not very very attractive right which then ends up likely leading housing to come down right leads the home builders to start to have their their sales start to dry up

Slowly but surely right where where folks are just you know they’re not as as uh yeah let me go buy a new house because one prices are extremely elevated and two mortgage rates going up that’s not a good thing right so that starts to happen then you can start getting uh more competition i would say in uh you know for for folks that are looking for a home because if

You don’t have as many people coming to look at your home right well then you’re in a situation where you know you need to start dropping price right let’s say there’s five homes for sale in a neighborhood right five homes for sale in the neighborhood somebody’s coming to look at at those homes well if if you know there’s not a lot of bids going then other folks

Are gonna say man i’m trying to sell this house so what do they do drop price what’s the real estate agent say hey we’re getting a drop price and so you start having a drop price situation which then actually would be a more favorable uh market for folks that are looking to buy homes right which is a huge huge issue not just for the economy but this is a huge issue

For folks that are in office right now especially with midterms coming around with how much rents have skyrocketed up with the way mortgages have just uh you know ballooned if you’re trying to buy a new home that is between mortgage rates and and you know how expensive properties have gotten that’s a situation that is catastrophic to folks that are in office now

I take a little bit of issue with this here key people from the fed just spooked the markets here’s what they said fed governor uh brainard uh at san francisco fed president uh mary daley spoke tuesday emphasizing the central bank’s commitment to fighting inflation through higher interest rates they said quote is paramount importance to get inflation down raising

Rates is what is necessary to ensure that again you go to bed at night and you’re not worried about whether prices will be higher considerably higher tomorrow okay so i take a little issue with this um this notion that magically inflation is fixed uh by by raising interest rates right obviously with the something we just talked about like housing that can be very

Very true if you just skyrocket interest rates and mortgage rates skyrocket obviously it’s going to hurt the housing market so that’s true when it comes to housing 100 right which is a big deal it can also be true with something like let’s say buying a car because if interest rates are are much more expensive people aren’t as likely to buy cars so it couldn’t hurt

A market like the car market automobile market okay now when you dig a layer deeper than that does the price of a tomato is that really affected by interest rates in my opinion not at all okay um gas prices not very affected by interest rates at all gas prices can be very dictated on uh supply and demand right and in that sort of situation you know with the

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Whole look at the russia example right with the russia ukraine situation there if interest rates were magically two times higher they wouldn’t magically have fixed the russia ukraine situation would have been like oh you know gas prices never went up now oil never went up no if you get a some sort of situation like that that’s what happens right if uh if all of

A sudden the saudis announced they’re going to cut oil production it doesn’t matter what the interest rate is oil is going to go up on that news right and so you you have all these different situations that play out there’s a lot that obviously goes into the inflation calculations and inflation in general right and just because you raise interest rates does not

Mean that magically everything is fixed in the world right also it is important to remember that if the fed wants to get very very aggressive with raising interest rates there always is the flip side which is do you want to set the economy into recession which is then you get a whole other scenario right now let’s imagine the fed goes crazy with raising interest

Rates and they actually send the entire economy into recession let’s just say that happens hypothetically right well then you’re in a really really bad situation and the reason being is we just printed our way out of this last situation from a couple years ago in a massive massive way right if all of a sudden we were to end up in an actual if they raised rates

So much and they ended up putting the economy into an actual recession right guess what they’re going to have to do again print like up crazy again then you’re going to get into this inflation cycle again right or you’re going to be in a situation where unemployment rates at let’s say 10 or something like that no one wants that no one wants a 10 interest rate and

Especially on the political side no one wants that there’s a lot of pressure they would be getting if if the fed sent us into literally recession we’re not we’re not built like that nowadays in the united states of america many many years ago it was a different situation but we’re not built for that to accept that sort of short-term pain we’re not willing there’s

No way you could tell the american people hey the fed’s going to raise rates like crazy send the entire economy into a recession for the next three years you’re going to probably lose your job or somebody you know is probably going to lose their job right and there’s going to be a lot of of economic hardship out there i think most folks would say no i’m okay with

That let’s not do that okay and uh like i’ll deal with these elevated prices i think that’s a better outcome than not having a job or be on uh government food stamps or something like that right and so when you think about this for for a moment you know the fed’s got to the fed’s kind of walking a tightrope here right where they really need to not push things too

Far to one side because if they push too far they’re going to end up they could end up sending the whole economy into a recession in that scenario that’s just you know i i think i think jay powell and and the folks that are running the fed are are more intelligent than that uh let’s hope i think there’s ways you can bring the housing market down through interest

Rates but if they think that’s going to magically fix everything inflation-wise if they want to just go crazy with the interest rates and then you know then you set up the entire economy for a potential recession in a major one and that that just be a whole other ugly scenario and the fed would need to come to the rescue again but then also print money like crazy

Again okay and so they need to definitely kind of watch themselves but at the end of the day i think a lot of this is just wall street playing games doing whatever they want to do if they want to if they want to send the whole market down for a given moment uh you know they’re going to do that they’ll blame it on whatever they want to blame it on because there’s

Always something you could pull out of thin air every single day oh let’s send the market down for this and it’s like do these companies really deserve to go down four percent eight percent six percent things like that usually no but that’s just the way it works and then if all of a sudden there’s a little uh excitement in the market tomorrow those stocks can go

Up four six eight percent and whatever the nasdaq is a lot of these stocks are doubling up tripling up quadrupling up on the upside and the downside whatever is happening there and that’s just kind of the market we’re living in right now so yeah i hope you guys enjoyed today’s video as always uh don’t forget to smash i appreciate you guys joining me also make sure

You check out ftx the official crypto partner of me and uh get so use my uh referral code there holy smokers all right and uh basically when you trade ten dollars with crypto you get a free coin which is pretty darn awesome you never know what free coin you get much love as always and have a great day

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