00:00 Seana Smith
US stocks register weekly losses as Trump's tariff threats wore back and as US deficit anxiety deepens. Yahoo finances Jared Blickre joins us now with the trading day takeaways. Jared.
00:15 Jared Blikre
Well, we had a little bit of a downdraft this week, and it was big enough to register as a worst week since liberation day week. And uh, it wasn't a disaster, but you know, you take a look at the Dow, you take a look at, uh, the S&P 500, not the Nasdaq, but some of these other markets, a bunch of the sectors that we talk about every day, Arc Innovation fund, value funds, uh, socks funds, you know, the basically chip indexes and software indices, all of these had the worst week since liberation day. And it's been interesting because this rally that we've seen since April 9th has been so rip roaring, a lot of traders have had trouble buying the dip. And this is something I talked to with Kenny Glick about over at the New York Stock Exchange on stocks in translation. Let's take a listen.
01:34 Kenny Polcari
12% candle, April 9th, the day, uh, the day that changed the market history. So at that moment, you know, what happened? The shorts got trapped again, and the longs who were thinking about buying the dip missed out. So, we've been spending this last month right now in that moment, because the shorts are now just they know we're going to get to these gaps. We're gapping up and they're not done covering their shorts and the bulls were not done yet gaining their confidence to buy the dip and we just keep going up and up and that's why it's becoming more increasingly difficult for this market to even pull back now.
02:50 Jared Blikre
So now we get to see if those bulls finally have the confidence to buy this dip, and we'll see that next week.
03:00 Seana Smith
All right, that's stocks. What about bonds?
03:03 Jared Blikre
You know, interestingly, bonds also had their worst week since uh, liberation day week. And we saw the 30-year yield punch north of 5%, at end of the day, I think at 5.02, 5.03%. Anyway, when the yields have spiked north of 5%, we've been talking a lot about this on the show, that's when stocks tend to roll over and I think it's no coincidence that we had some troubles this week. So I just wanted to show you that it's not the US alone. If you take a look at Japan, UK, and Germany, all of these, and this truck goes all the way back to the beginning of the century, where a lot of these countries, including the US, were four, five, 6%, not Japan, but the rest, we came down to almost zero some of these. And look, Germany went negative. Remember negative rates? Not anymore because look at this. We are back up to three, four, five, 6%, uh, well, 5% here and uh, the question is, where does it all end? And so I have one more chart. Well, I don't have one more chart there, but I will close with this. I think the yield picture is going to really paint the stock picture going forward. So if 5% in the 30 year in the US is a floor, uh, we're going to have some trouble with stocks, uh, reaching new, uh, record highs.
05:02 Seana Smith
Right. Heading till a long weekend. Let's end on a good note. Some good news for the people. Brief teaser before. Guess what I'm going to talk about? Gold. Now, it doesn't matter if you're in the digital or the physical, it is all good because we saw gold flows actually were negative, the most negative in a long time. Nevertheless, price just had its best week. Gold futures just had their best week in six weeks. So gold is nearing its all-time highs. Then you take a look at Bitcoin flows. These are cumulative Bitcoin flows since 2019. That just hit a record high. So did the Bitcoin price, 110, 111,000 depending on your exchange. We came back a little bit, but finally punched above those old 108,000 highs from January. So you put it all together, digital, physical gold, both looking good.
06:18 Seana Smith
All right, let's end right there. Seems right. Thank you, Jared. Appreciate it.
06:22 Jared Blikre
Yeah.
