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Topics discussed in this podcast include Lyft's stock performance and a clerical error in their earnings report, the success of gig economy apps and executives admitting mistakes, challenges and mistakes in economic predictions, the increasing presence of Chinese suppliers in Mexico and the need for cyber preparedness, the recent market sell-off, CPI print, and jobs report, and the performance of the S&P index in 2023 and investment opportunities in various sectors.
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Quick takeaways
- Positive economic data has shifted market sentiment towards potential rate cuts aligning with the Fed's projections.
- The market cap weighted S&P 500 index continues to outperform the equal weighted index, with a small group of stocks driving the majority of the market gains.
Deep dives
Market sentiment affected by strong economic data
Strong economic data, such as the positive jobs report and higher than expected CPI, has led to a shift in market sentiment. Previously, there were expectations of several rate cuts, but now the focus is on potential rate cuts aligning with the Fed's projections. The CPI data, although noisy, shows that inflation is running at around 2%, in line with the Fed's PCE indicator. Market risk still seems to lean towards rate cuts rather than unexpected rate hikes.
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