The KE Report Joel Elconin - Inflation Data, and the Relentless Big Tech Rally, When Will The Market Top?
Aug 14, 2025
Joel Elconin, co-host of the PreMarket Prep Show and founder of the Stock Trader Network, dives into the latest inflation data and its surprising impact on market dynamics. He discusses the resilience of big tech stocks despite rising rates and the struggles of small caps. The conversation highlights a booming IPO market and Bitcoin's surge, revealing insights into investor sentiment. Elconin also addresses gold's stability amid uncertainty and the psychology behind current market momentum—raising the question of when this rally might hit its peak.
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Big Tech Insulates The Market
- Big tech is driving the market because those companies are cash-rich and not interest-rate sensitive.
- Joel Elconin says big tech leadership makes it hard for the overall market to fall despite rate-driven weakness in small caps.
Hot PPI Didn't Shift Fed Expectations
- Markets shrugged off a hot PPI print because CPI was more important and in line.
- Joel notes the market still prices a high probability of Fed cuts in coming months despite the PPI surprise.
Teflon Market Keeps Buying Dips
- The current market is 'Teflon' where many negative events fail to stick and dips are consistently bought.
- Joel warns only a major unexpected shock or big tech turning down would likely derail the rally.