Money Rehab with Nicole Lapin
Why Nvidia Dragged The Market Down & Jade Shenker (Owning Manhattan on Netflix)
10 Dec 2024
This week Money Rehab is being guest-hosted by Peter Tuchman, trader on the floor of the New York Stock Exchange and host of the MNN podcast Trade Like Einstein. Today, he breaks down the latest news from the markets: why Nvidia fell and took the market with it and what events this week will affect the market. Plus, in the second part of the episode, you'll hear Peter's interview with Jade Shenker, commercial real estate agent and star of Owning Manhattan on Netflix. In their conversation, Jade talks about how she's disrupting commercial real estate, why reality TV and real estate go together and how The Village Voice kickstarted her career. Subscribe to Peter's podcast Trade Like Einstein wherever you get your favorite podcasts. Follow Peter here. Learn more about Jade Shenker here. Recorded Monday, 12.09.24. All investment strategies involve risk of loss. The content you hear on this podcast is for entertainment purposes only and does not constitute financial advice by our hosts or by Money News Network.
Full Episode
I'm Nicole Lappin, the only financial expert you don't need a dictionary to understand. It's time for some money rehab.
Hey everybody, it's me, the Einstein Wall Street from the floor of the New York Stock Exchange. What a great day to be alive and to be in this market. Ladies and gentlemen, I'm going to be your temporary host sitting in for Nicole Lappin of Money Rehab as she is on maternity leave. Let's all wish her health and happiness for her and her family. It's a beautiful thing. So stay tuned.
We're going to be doing episode after episode every day of what the heck's going on, giving you a forensic breakdown of what's happening into the market as we end 2024. And stay tuned for some of the best interviews I've done since the beginning of this show in 2024 in food, in fashion, in finance, and fun. We'll be seeing a lot here, so stay tuned. Three, two, one.
Hey everybody, it's me, the Einstein of Wall Street. We are here with Trade Like Einstein. I am Peter Tuchman, and we're here on the floor of the New York Stock Exchange in the balcony. History is made in this building every single day. Somebody with my long-term experience, I've been here for 137 years, it is my responsibility to help teach you how to navigate this market successfully. Boom!
Hey everybody, it's me, the Einstein of Wall Street from the floor of the New York Stock Exchange, right under the podium. Forget about it. So look, where are we? You know, at the end of today, because we did have a little bit of a reversal, the market got taken down by Nvidia. Stuff out of China, there was some accusations about an antitrust thing, a monopoly story.
And so there was some major accusations against Nvidia, which has been best of breed, Jensen, best of breed for the whole year. It's carried the whole market. It was the first time there was really any kind of bad news on it. And you know how one stock can really drag down a sector, and that's what it did. It took the Nasdaq down. We broke a winning streak in the Nasdaq. But it's a day.
A day doesn't make a market. A week doesn't make a market. So the market was all red throughout the day. I think we closed down around 25 handles on the S&P. Friday we traded and closed at record highs. We had the economic data we were looking for. Unemployment did tick up a little bit, and that was majorly a function of the hurricane and some strikes.
That was up from 4.1 to 4.2, but still, the trajectory's been great with employment, and the numbers have been good. Payroll numbers, 277 versus whatever. Last month, we only had 12 to 14,000. This month, we're back into the hundreds on jobs created, non-farm payroll jobs.
I'm trying to get the psychology and the mental state, because you know when you go home after listening to me, you're going to hear everybody in the mainstream media talk about, oh my God, it's over, the selling off, it's the beginning of the end, blah, blah, blah. But that's not necessarily the case. When we see markets roll over, it's a lot different than what we saw today.
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