Money Rehab with Nicole Lapin
Why the "Santa Claus Rally" Happens & How To Build a Career in Finance with Peter's Intern!
11 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 "Santa Claus Rallies" happen, what The Fed is getting right and more. Plus, in the second part of the episode, you'll hear Peter's interview with Alishah Ishfaq, a TradeMas' intern, about how young people can take the road to success right to Wall Street. Subscribe to Peter's podcast Trade Like Einstein wherever you get your favorite podcasts. Follow Peter here. Recorded Tuesday, 12.10.24. 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 of Wall Street from the floor of the New York Stock Exchange. 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. 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 of you, 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!
Today is Tuesday. I believe it is December 10th. And, you know, look, now we've got two days in a row where the market's pulling back a little bit. I think it's been fueled by a couple of different things. First of all, the market's just a little bit exhausted, right? We know that yesterday's sell-off was probably prompted by a lot of that bad news about monopoly accusations against Nvidia.
And that's, look, once that happens, that really kind of pulled the market down. But look, guys and girls, net net, Friday, you know, due to the great economic numbers that came out, we did close at record highs across all indices. And we've been doing that every day, every week, every month for the last 12 virtually. So these record highs can probably exhaust the market to a certain extent.
People's focuses aren't right here right now. Everybody's out there. They got through their first shopping on Black Friday and Black Monday for Thanksgiving. And now we're sort of in that small, quiet time between now and Christmas, right? We are, all eyes are on the markets for the economic data, PPI, CPI coming out on Friday. That is significant.
That will either be the catalyst to take this market higher or pull the market back. Look, a couple of days of a sell-off or a pullback or slight consolidation when basically it's very sector-centric. is not any reason to really get concerned. Anybody who's been in the S&P this year is up 27%. And you know what?
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