Joel Elconin - Benzinga Pre-Market Prep Show – Tue 2 Jul, 2019

Things that matter to the markets… Jobs data, Fed expectations, and headlines

Joel Elconin, Co-Host of the Benzinga Pre-Market Prep Show said that today is crucial for the markets. We discuss why he thinks today is so important then move to the big picture view of global financial markets. We have jobs data at the end of the week that will play directly into Fed expectations for the meeting at the end of the month. WE wrap up the call with quick comment on gold.

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Comments:
  1. On July 2, 2019 at 10:57 am,
    OOTB Jerry says:

    Tell Joel……..we already broke out…… 🙂

    • On July 2, 2019 at 11:33 am,
      OOTB Jerry says:

      Gold going up still……should be interesting after hours…….jmo

      • On July 2, 2019 at 11:36 am,
        OOTB Jerry says:

        1408…..looking good……

        • On July 2, 2019 at 1:22 pm,
          OOTB Jerry says:

          1414……..better than 1410…..

          • On July 2, 2019 at 1:33 pm,
            OOTB Jerry says:

            $1416……nice swing today…..

          • On July 2, 2019 at 1:40 pm,
            OOTB Jerry says:

            $1418……hello…..

          • On July 2, 2019 at 4:23 pm,
            OOTB Jerry says:

            $1426…..back again……looking even better……..jmo

          • On July 2, 2019 at 4:25 pm,
            OOTB Jerry says:

            $1436 high….maybe not…..

          • On July 2, 2019 at 4:36 pm,
            OOTB Jerry says:
          • On July 3, 2019 at 6:48 am,
            OOTB Jerry says:

            “Gold was the enemy to me” Paul Volker

            “Then and now, the gold price is viewed as the inverse price of the confidence in the system.”

          • On July 3, 2019 at 6:49 am,
            OOTB Jerry says:

            Who got spooked ……..Gold down…….just had a round trip….

  2. On July 2, 2019 at 11:20 am,
    Ebolan says:

    BOYS!

    The DemoRats will do anything to increase their voter base!

    As if flooding the country with ‘migrants’ to get more votes is not enough look what the Demorats are doing now:

    ‘It just really ethically scares me’: Caution urged as scientists look to create human-monkey chimeras
    https://nationalpost.com/news/canada/it-just-really-ethically-scares-me-caution-urged-as-scientists-look-to-create-human-monkey-chimeras

    Now you know the DemoRats will demand that these monkey people be given the vote.

    • On July 2, 2019 at 11:23 am,
      OOTB Jerry says:

      Look out………these could be the new teachers they need, to teach the next generation.. 🙂

  3. On July 2, 2019 at 11:24 am,
    Ebolan says:
    • On July 2, 2019 at 2:22 pm,
      Matthew says:

      Speaking of DemoRats, here’s a (free) book that they should be forced to read:
      https://aociswrong.com/

    • On July 2, 2019 at 2:27 pm,
      Matthew says:

      While we’re at it, here’s a short video that everyone should watch (the info won’t be new to a few of you, like GH):

      Public Schools, the Fixation of Belief, and Social Control
      https://www.youtube.com/watch?v=kyWFpsAnVuI

      • On July 2, 2019 at 2:42 pm,
        Ebolan says:

        I tell you Matthew, the Demorats will stop at nothing. They’ve got people in Mexico and Central America doing all they can to get people into this country. And it’s not like they are trying to hide it. Hell Butto O’Dorke is campaigning there for crying out loud. And now there are Africans coming across the Mexican border. How the hell did they get to Mexico?

        And in Commiefornia Governor Gabby Nuisance is invoking the Obammy fine so those who refuse to be raped by the insurance mafia will be fined and the money used to fund free health care for illegal aliens. But you can bet every Commie Demonrat on those debate stages want the same thing.

        Trump is the last Republican President we will see in our lifetimes. The DemoNRats will turn the country into Commiefornia where every statewide office is held by a DemoNRat and both houses have super-majority DemoNRats. It is a one party state.

        • On July 2, 2019 at 2:43 pm,
          Ebolan says:

          This country is getting Merkelled. That commie b@tch destroyed Germany with her migrant flood. The same will happen to the USSA.

        • On July 2, 2019 at 4:00 pm,
          cfs says:

          I don’t understand why the ha-hockey sticks Trump doesn’t go after Soros and his “tax-free” organizations……the people that are funding the death of the US via Marxist greed.

          • On July 2, 2019 at 4:07 pm,
            Matthew says:

            It’s not part of the script, that’s why. Every republican president of the last 75 years (at least) has been controlled opposition.

          • On July 2, 2019 at 6:20 pm,
            Matthew says:

            Speaking of controlled opposition, I still have not come across a single good argument for the NRA’s endorsement of globalist (D) Bill Richardson instead of Ron Paul during the 2012 presidential campaign. And what’s one to make of the fact that all the other Rs weren’t good enough?

  4. On July 2, 2019 at 4:16 pm,
    b says:

    Tulsi Gabbard SMASHES HER CRITICS In Corporate News

    https://youtu.be/p6DbFUaY30I

    If I hadnt already decided to vote for Putin I’d vote for Tulsi.

  5. On July 2, 2019 at 4:59 pm,
    Chartster says:

    CFS,
    It takes time to unravel the tentacles that the swamp had a grip on the US. The events of 1860 to now are deep rooted. Soros is/was a big player, but also is going to loose, bigly.

    Mathew,
    The script has changed. You’ll see.

  6. On July 2, 2019 at 5:01 pm,
    OOTB Jerry says:

    Judy Shelton is author of the 1998 book Money Meltdown; and previously she had concluded that “Central bankers, and their defenders, have proven less than omniscient.”

    So why does Trump want Shelton on the board? Simple: she previously said that if appointed, she would lower interest rates to 0% in one to two years. That’s all markets had to known and following the news that Shelton is being nominated to the Fed board, gold spiked $10 from $1,425 to $1,435 in minutes, as Trump’s push for ZIRP (and soon after, NIRP) just took on an added urgency.

    • On July 2, 2019 at 6:17 pm,
      Ebolan says:

      Truly criminal. Financially rape the responsible people who save.

      No society can survive if this is what the rulers do to savers.

  7. On July 2, 2019 at 5:23 pm,
    Chartster says:

    OOTB,
    The fed rate is only the ‘overnight lending rate between banks’.
    The prime lending rate to consumers and business is actually what matters. Also, the treasury yeilds paying a decent return matters to the economic flow.

    Here’s a recent tweet from the Meistro.
    I am pleased to announce that it is my intention to nominate Judy Shelton, Ph. D., U.S. Executive Dir, European Bank of Reconstruction & Development to be on the board of the Federal Reserve….

  8. On July 2, 2019 at 5:34 pm,
    Chartster says:

    ZIRP works when there is QE, for the bankers.
    There won’t be anymore QE. guaranteed.

    • On July 3, 2019 at 6:14 am,
      OOTB Jerry says:
      • On July 3, 2019 at 6:41 am,
        OOTB Jerry says:

        Why does this matter? Because as David Rosenberg pointed out, “the small business sector leads the cycle and employment here has plunged 61k in the past two months.” Adding that he hasn’t “seen this in over 9 years”, the Gluskin-Sheff economist notes that he saw that “same decline in Feb-March of 2008 when the consensus was busy calling for a soft landing. This isn’t a repeat of 2016 by any stretch.”

  9. On July 3, 2019 at 6:26 am,
    OOTB Jerry says:

    Interesting……..Housing slow down….
    https://www.zerohedge.com/news/2019-07-02/curious-divergence-despite-ipo-bubble-tech-epicenter-housing-market-crumbling
    John Burns Real Estate Consulting, finds that a nationwide slowdown in residential housing markets has hit the Northern California tech epicenter particularly hard. San Jose, San Francisco and Seattle saw net resale deceleration (meaning the change in year-over-year price growth this year compared to last) in home prices of 26%, 15% and 13% respectively, in May.