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Welcome. This is your daily dose
of Delhi Market wisdom with mask Or Trader

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and Nick Santiago. I'm your host, Carry Lutz at six five twenty three

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Show four eight three. Well,
we had quite a rally on Friday.

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Huh, we did, Carry,
That was a big rally. Obviously,

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the debt ceiling getting approved by the
Senate night before, was passed by the

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House on Thursday, so the market
was rejoicing. And obviously President Biden signed

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it on Saturday, so market was
rejoicing over that. Plus there was a

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Goldilocks job number reported on Friday morning
before the opening bell. It's amazing how

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that happens. The unemployment number peaked
up, but the unemployment rate went down,

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and you know, couldn't ask for
any better scenario, I guess for

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a Friday going into a weekend.
All right, So the debt ceiling is

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raised and peace is restored. The
Republic has been saved, right, Yeah,

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the Republic has been saved. But
the Republicans are not looking so good

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on this one, right because it
just looks like they just created And it's

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amazing. But Kevin McCarthy might be
Joe Biden's right hand man after all.

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Well, We always knew he was
gonna do it. Oh we did,

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we did. It's it's it's like
pro wrestling out there. So again,

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these guys and when they go backstage
or all buddies deals have been cut.

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Just like we said, Kabuki theater
is what I think you called it.

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Yep. Yeah, well I think
it's like professional professional wrestling, except it's

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not as convincing. Yeah, I
think that's perfectly said. Hey, so

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what's going on with Saudi Arabia.
They say they're going to cut production,

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which sounds to me like what it
means is that the demand is down.

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Yeah. I think what we've seen
in the oil price really struggling a bit,

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so I think demand is down.
But they did say that they're gonna

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implement an additional volun terry cut.
I believe one million barrels a day OPEC

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plus, which is the country's outside
of the OPEC region. They are not

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going to cut. There's going to
leave everything status quo. But Saudi Arabia

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is the biggest producer of oil,
so they're gonna cut one million barrels a

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day. That caused a little spike
in oil. Today, oil is trading

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up about one percent right around that
seventy two forty seventy two fifty level right

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now today. It gave a little
bump to the energy stocks early than it

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it faded. But I will say
this um that gas is up pretty nicely

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today. So that's that's getting a
pretty good little bid. We'll see if

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that holds into the clothes. But
overall that that's the news out here.

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And I think you're right. I
think things are slowing down globally, and

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you know they probably will cut more
down the road I would, I would

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assume no doubt. So what's doing
with Apple here? They're having their Worldwide

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Developers Conference wd SEE as they call
it. And will we see a five

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thousand dollars I found this year,
Nick, I don't know. But the

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big product coming out of this developer
conference supposedly is like a mixed reality virtual

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reality headset. So the cost of
this headset from the details I saw earlier

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where that they're gonna it's gonna cost
about three thousand dollars For three thousand dollars

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for the headset, that's a high
price if you ask me. Apple stock,

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though, is up ahead of this
developer conference. We'll see if it's

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by the rumors sell the news type
event stock is making I believe a new

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all time high today. So again
it's up about one and a half percent

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as we speak, making a nominal
new high, but it isn't all time

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high. And this stock is very
lofty on the board, so maybe it

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has one more surge, but I
would I would almost think about feeding Apple

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on this on this news all right, And financial stocks are weak today,

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So we have JP Morgan, which
I'm watching closely. This stock is like

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a seesaw over the last month and
a half. Now, there's a lot

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of talk about rumors. We're not
rumors. There's actually reports that, you

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know, JP Morgan was the banker
for Jeffrey Epstein, so you're seeing this

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guy Jeff Staley who was a former
banker for JP Morgan. Maybe you know,

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putting Jamie Diamond in the corner that's
causing this stock to really be a

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seesaw on mover. I would just
avoid the name at this stage of the

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game. But the biggest story,
in my opinion, is really the regional

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bank ETF, the KR, and
we've talked about that numerous times here.

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It has firmed up a little bit
recently, but today it's down by three

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percent. And I would still be
careful with these regional banks. I've been

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saying that on the show. I
think they're going extinct, and I would

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be very very careful with all regional
bank stocks right now. They're gonna be

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bounces in there, but I just
don't think they're worth the news. This

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banking crisis, although the they have
a band aid on it now, the

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central banks obviously throwing at a lot
of liquidity at it to fix the problem,

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hence the rally we've seen. But
you know, this can't go on

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forever. There's a lot of problems
in the banking system, especially in the

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regionals, so I'd be careful there. Okay, So finally gold is up

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a bit today. It got blown
off on Friday. Yeah, gold got

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hammered on Friday. But remember that
level we talked about on a program a

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couple of weeks ago. I said
nine forty would be the support area for

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gold. That level held obviously on
the thirtieth of May, and then we

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got a good pop, and then
Friday gold came down quite a bit.

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But today it's rebounding a little bit. It's up about a quarter of one

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percent right now. Sitting in around
nineteen seventy five on the futures, so

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it's living to fight another day.
Silver, on the other hand, a

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little bit weaker today, trading down
about a half a percent. So all

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in all, we'll keep an eye
on the precious metals right now. But

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I don't love them. I don't
hate. I'm just more neutral than for

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the time being. Okay, So
all right, so they're kind of like

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a little lull, maybe a little
plateau at this point. Yeah, I

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would say so, yeah, I
would say so. Bitcoin. Where we

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are with bitcoin today, Yeah,
bitcoins have been on the weaker side.

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Bitcoin futures down by about two percent
right now, still trading it around twenty

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six thousand, eight hundred on the
futures. But the chart is just very,

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very choppy and sloppy. A lot
of sideways consolidation, but not tight

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consolidation. There's still a chance that
bitcoin can go either way. I would

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just avoid the name right now.
The daily chart, I think looks weak.

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Once come down to twenty five thousand, the weekly chart is still consolidation.

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Tells you you could go back up
towards a thirty thirty one thousand range,

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but that would be about it,
so I think you just kind of

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stay neutral with bitcoin right here.
I'd like to see a break one way

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or another and then we'll take it
from there. But really not a lot

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of strength out there today. All
right, Well that's it for today.

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Make sure you go over to nick
site in the moneystocks dot com. She

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always beaten the averages for decades.
Twitter feeds at ims at Nick Santiago zero

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one at carry Lutz. Your emails
are welcome kl at Kerry Lutts dot com,

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and don't forget write your comments below
on the YouTube channel Nick. We

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will talk to you Wednesday. I
will be home then and back to normal.

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Sounds good, Kerry,