00:01:28 · Tim Stenovec, Kristine Aquino, Jess Menton
[00:01:28] S1: So even though we. [00:01:29] S0: Saw it spike around 24, 25 earlier today, we did see, we were talking about this earlier that volatility and some of it coming in toward the closing bell. [00:01:37] S1: So whenever you're speaking with your sources, whether they're watching. [00:01:39] S0: Price technicians, what do they think that means for the setup potentially? [00:01:42] S1: Does that bode well if you're going into Monday? [00:01:45] S2: Yeah. [00:01:46] S0: I mean, very interesting too, Jess, because again, even in volatility markets, there's so much going on beneath the surface that the index moves aren't necessarily reflecting. Those micro levels. Absolutely. And we're seeing a lot of hedging to one side or the other, beneath that surface. And so what that's telling me is there's not one kind of macro or catalyst, one big catalyst that's moving everything. There's a lot of kind of different little things that investors are responding to. And that's where we're not necessarily kind of seeing those big index moves apart from today that we've seen. And moving forward, that really, I think maybe creates a little bit more bifurcation in markets, right? And that's kind of the big question, the existential question that we're trying to get at is, what's going to separate the winners and losers now heading into next week? From the earnings perspective, was it cash? And then just on a broad markets perspective, is it, right?
00:01:46 · Kristine Aquino, Jess Menton, Tim Stenovec
[00:01:46] S0: I mean, very interesting too, Jess, because again, even in volatility markets, there's so much going on beneath the surface that the index moves aren't necessarily reflecting. Those micro levels. Absolutely. And we're seeing a lot of hedging to one side or the other, beneath that surface. And so what that's telling me is there's not one kind of macro or catalyst, one big catalyst that's moving everything. There's a lot of kind of different little things that investors are responding to. And that's where we're not necessarily kind of seeing those big index moves apart from today that we've seen. And moving forward, that really, I think maybe creates a little bit more bifurcation in markets, right? And that's kind of the big question, the existential question that we're trying to get at is, what's going to separate the winners and losers now heading into next week? From the earnings perspective, was it cash? And then just on a broad markets perspective, is it, right? [00:02:40] S2: I mean, we might have to have this conversation with you on Tuesday after we get from Apple. Because that could be one that shows us that, okay, maybe investors are continuing to, at least right now, award companies, their favorite companies that are not spending so much on CapEx. [00:02:57] S1: Yeah, absolutely.
00:02:57 · Tim Stenovec, Kristine Aquino, Jess Menton
[00:02:57] S1: Yeah, absolutely. [00:02:57] S0: I mean, that seems to have become the sticking point now in this earnings season, right? Because even though we've seen still kind of a healthy set of results from the big tech companies, but it really is all about that cash flow now, that CapEx figure, and whether they're showing enough to justify how much they're spending on AI. Now, Apple, though, I'm kind of interested in how their push toward hardware and products is going to fare when we're in this environment where affordability is also an issue. [00:03:27] S2: Yeah, but look at how quickly they sold out, and we don't know the exact inventory of the foldable phones. [00:03:33] S1: Because it's a $ 2, 000 phone. That's true. You have to be at a certain part of the K to drop 2K on a smartphone. That's right, yeah. [00:03:39] S0: I mean, yeah, perhaps the K-shaped economy is going to help them in this case, catering to Doza, the premium part of the K.