Tom Vaughan:
Everybody welcome to Monday, the S&P 500 was down point seven 4%. Today, in the aftermarket before the market opened a futures were actually up. But then it was announced that there was a city in China called Shenzhen, which is a big tech supply chain center was closed down after 86 cases of COVID virus were discovered on Sunday. And they have a zero COVID lockdown policy. So there was some fears, then, of course, that there’ll be some supply chain disruptions that are possible Apple with Foxconn has, you know, a plant there that was shut down. And what might transpire in terms of slowing the overall economy down as they continue to implement this zero COVID tolerance policy, we’ll have to wait and see how that happens. On the on the bright side, we did see a drop in the price of oil has some of the different metals and materials that have been skyrocketing recently came down. So we’ll see how that ends up playing out as far as that goes.
We’ve also had some other interesting pieces, I have a friend who’s also an advisor. And we were talking this morning, and he mentioned that the NASDAQ 100. This is the top 100 stocks in size that are on the NASDAQ Stock Exchange. Most the big tech companies, you know certainly are on that list has had more than a 1% range each day. So in other words, from the highest point during the day to lowest point has been more than 1%. It’s had that every single day this year. So it just kind of shows a little bit of the volatility of what’s going on out there. But the last time that happened at the beginning of the year was 2009. And it was in March 9 of 2009 When we reached the bottom of the 2008 downturn. And so, you know, that was one of the interesting things here. We’re in this period of time where there’s kind of a battle going on. And we’re seeing that right now, you know, if you look at the market over the last three weeks, you know, it’s more or less been a sideways motion slightly down, but more or less a sideways motion, and you got this battle between people that think it’s a great opportunity to come in and buy. And then people that are selling every time it jumps back up. And so you know, this, that is a portion of a bottoming action as far as that goes. So I’d hang in there here and just keep your hopes up. The market will eventually find some stability here. Be very interesting to see how the market responds to the Federal Reserve comments on Wednesday, and what the Federal Reserve does in terms of raising rates and what that does for the market one way or another. So looking forward to talking to you tomorrow, and we will see you then thank you very much.