Investors Flee Tech for IRL Stocks & Trump Touts Economy in SOTU Address
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What is the main topic discussed in this episode?
Good morning, Brew Daily Show. I'm Neil Freiman. And I'm Toby Howell. Today, President Trump went on and on and on and on about the economy at the State of the Union last night.
Then what is the halo trade and why are investors piling into it?
What were the highlights of Trump's State of the Union address?
It's Wednesday, February 25th. Let's ride.
Good morning. You got one more day of me in the studio and Toby in a bedroom on the West Coast. Toby, have you seen this new survey out about grocery stores? The American Consumer Satisfaction Index surveyed 31,000 shoppers to find out America's favorite grocery stores, ranking them in categories like freshness of meat and produce, quality of the selection, the layout, and speed of the checkout process. And what do you know?
What is the halo trade and why are investors interested?
Good old TJ's, Trader Joe's, came in first with a ranking of 86 out of 100. In second place is Publix, the pride of Florida, followed by H-E-B, Sam's Club, Aldi, Costco, and Whole Foods. Toby, what do you make of this ranking?
It actually does seem like grocery stores got worse in general last year because if you look at the national average of how each chain was ranked, it dropped 1% to 78%. Only three of the 19 grocery chains measured improved compared to the previous year. Here are some notable below average chains. Walmart received a score of just 75. Albertsons scored 74. And Giant Eagle ranked last in the entire report. So if any Giant Eagle shoppers are out there, you have a bone to pick with them. I am really trying to think of what makes a good chain. I was going to say affordable, but then you see Walmart pretty far down this list. I think the distinct vibe is the number one thing that shoppers are looking for. Trader Joe's, you know what you're going to get when you walk in.
Publix, shopping is a pleasure. Does Publix have a vibe? I've never been in one. Okay, that's the fascinating thing. I have such fealty to Publix because I just grew up in that region. I think it's their slogan where shopping is a pleasure. You just walk in there and it does feel like shopping is a pleasure. I think you can't just be a nameless, faceless entity like maybe something like an Albertsons or a Walmart. That's my reading of the grocery tea leaves.
Okay, and before we move on, I have to shout out Big Y, the pride of Western Mass. Everyone just has random field tea to their regional grocery stores. It can't be explained. We need to do research to see why we just care so much about this. Okay, let's hit the news. Ahead of last night's State of the Union address, President Trump said it's going to be a long speech because we have so much to talk about. And he delivered on that promise, recording the longest State of the Union speech in American history. Trump spoke for one hour and 48 minutes in front of a joint session of Congress and four of the Supreme Court justices who just a few days ago struck down his global tariffs. The president spent much of that time speaking about the economy because that's, well, all anyone wanted to hear about.
Nearly 60% of respondents to a CNN poll said they most wanted Trump to discuss the economy, by far and away the most of any subject. In this speech, Trump described the economy as roaring like never before, mentioning lower mortgage rates, cheaper gas, and a rising stock market. He did not float much in the way of new policies, as presidents typically do in their states of the union, instead recapping some of his greatest hits like last year's tax bill, and Trump accounts that seed newborns with $1,000 in the stock market. However, by saying the economy is hunky dory, Trump may seem out of touch with what Americans are actually feeling because they are nervous about the economy and don't think Trump is managing it very well.
57% of voters disapprove of his handling of the economy in a recent Washington Post Reuters Ipsos poll. This was Trump's opportunity to show he's got a plan to fix some of those anxieties, but he mostly dismissed the concept of affordability.
Yeah, he wanted to play the hits here. He likes pointing to indicators that are doing well.
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