Industrials, bitcoin & gold, Japanese yen: Market Takeaways
00:02 Josh The S&P 500 and the Nasdaq notching fresh record closes as AMD's OpenAI deal sparking a rally. Yahoo Finance's Jared Blikre joins us now with the trend takeaways. Jared. 00:15 Jared Josh, we got a number of records today. I'm going to start with industrials, and that's because we haven't seen a record in industrials since July 25th. And in fact, this is number 16 of 2025. That might sound like a lot, but it dwarfs in comparison to some other markets. We'll get to those in a second. Here is the year-to-date chart. So basically, it's been trading sideways since July, and now it is breaking to the upside. It's going to take a little bit more confirmation, but just kind of adds to the growing swath of uh strength and bullishness that we're seeing in the market because guess what, we also saw record highs from tech. That was the number one spot. That's up 1% and utilities, which was close behind today. 00:53 Josh All right, so that's industrials. What is what else was notching records? 00:57 Jared We got to talk about digital and physical gold, uniting to each notch their own separate records. Uh, we've been talking about Bitcoin a lot. I said I like the momentum that Bitcoin had as it's approaching its record high now. And guess what, we were able to finally crack that mark. I would caution, Bitcoin famous for its uh false breaks to the upside and the downside, so this might be a fake out, but I do like the momentum behind it. So odds are in my book that we kind of continue to rally here. If we do get a pullback, I want to see uh the low 120s hold and we'll have to see if that comes to fruition there. But uh according to my stats, we actually have nine record highs in Bitcoin. and I did mention uh actual gold, physical gold. So let's dial that up to 1.9% today, 3983. This is dangerously close to 4,000. That is a huge psychological number. That would be number 42 for gold this year alone. And I actually had a chance to sit down with uh Michele Gallina. She uh has her own shop now and she was on stocks in translation just talking about the gold trade. It drops tomorrow morning, but listen to what she had to say right now. 02:41 Michele Gallina I think there's been a perfect storm in a good way for gold to have a good year. The economic backdrop of geopolitical uncertainty of central banks around the world accumulating the asset and being in the inflationary environment that we've been in. More recently, we've seen the Fed have a dovish signal, and we know that they've indicated they're going to cut rates a couple times this year by a small amount, probably 25 basis points, and that is historically a tailwind for precious metals. So, we've seen a nice setup for gold. 03:22 Jared Love it. And again, that's Tuesday morning, 8:30 a.m. Check that out on the Yahoo Finance site. We got to move on, though. 03:31 Josh What about concerns? Worries in today's trade? 03:34 Jared Yes. 03:35 Josh Everybody remembers Yen Mcgeddon, right? 03:38 Josh Mhm. 03:39 Jared I I barely do. It was August of last year and that was when the Yen was kind of in the Japanese economy was in deflation mode for decades and then we've seen insur- uh inflation become a thing again. And over the weekend we had a surprise election and it looks like there's going to be a new prime minister. I'm not going to get into the details of that, but I just want to chart the US dollar versus the Japanese Yen. and you're going to see this higher now. Why is the Yen cratering? Because the US dollar's first, but this means a stronger dollar by 2%. That is a huge amount. And we haven't seen the Yen really be be a factor in a while. Let me put a two-year chart so we can maybe see when Yenmageddon was, maybe it was somewhere in here. Uh I'm just guessing here. Nevertheless, this is a yellow warning flag. Sometimes when the global bond markets get heated up, and this does affect interest rates. It spills over into stocks, not always for a long period of time, but definitely something to watch and keep on the back burner. 04:33 Josh So that's the Yen. How about a quick check on the dollar? 04:36 Jared Yes, sir. 04:37 Josh Yeah. 04:37 Jared So, the dollar because of the uh because of the overnight action in Japan, we actually saw a modestly higher dollar today. It was up as much as like 8/10th of a percent, gave a lot of that back, but if you look at the year-to-date trend, let's just take a look at that. Basically done nothing for several months. So, dollar is not too much of a concern for me right now. 05:01 Josh Alright, thank you, Jared. I appreciate it.
