Market takeaways: Stock rebound, tariff threats, silver vs. gold

Yahoo Finance Markets and Data Editor Jared Blikre joins Asking for a Trend host Josh Lipton to take a look at the biggest takeaways of Monday's trading session: the stock market (^DJI, ^GSPC, ^IXIC) rebounding while the bond market (^FVX, ^TNX, ^TYX) takes the day off, renewed tariff threats, and silver (SI=F) beating gold (GC=F) on a few different metrics.

To watch more expert insights and analysis on the latest market action, check out more Asking for a Trend.

Video Transcript

00:03 Speaker A

Stocks soar as Wall Street rebounds from a tariff-fueled rout. The S&P 500, the Nasdaq coming off their worst day since April. Yahoo Finance's Jared Blikre, joining us now with the Trading Day Takeaways. Jared.

00:13 Speaker B

Thank you, Josh. We got to talk about this comeback. Stocks were surging, bonds took a nap because it was the Bond's Day off. That's the nature of the beast when we have a bond market holiday. But I was really fixated on some of this outsized price action. You look at you take a look at this. This is very impressive. Tech is up 2.4%.

00:41 Speaker B

You take a look at the Nasdaq 100, Tesla's up 5%, Broadcom almost 10, uh Alphabet 3%. But I will say when you take into consideration the losses that we saw from Friday and this is a two-day view, you see a much different picture. So, I'm not saying that this isn't this may be over, it may may not be. And it all had comes down to whatever headlines we get out on the uh tariff front that really kind of complete that picture for us.

01:13 Speaker B

Only utilities, which by the way, XLU hit a record high today. Only that is in the green. Tech is still looking at losses of 1.7%. Here's the semiconductor space. You do see some green here, especially Taiwan Semi and Broadcom. Even China kind of the heart of the action here, a lot more red, really not a lot of green at all. So, things were this was an important day, but I would also stress that on a bond market holiday, you're not going to have a lot of traders at their desk, and it's easy for things to go up. And so, it's going to be key to see this week if we get some follow through to the upside or if we roll back over, Turnaround Tuesday could easily be Turn Down Tuesday.

01:41 Speaker A

Let me ask you that, I mean do you look at do you look at Friday's tariff news and think, okay, maybe not such a big threat?

01:48 Speaker B

Well, I asked that very question to Brian Levitt today on Stocks in Translation. He's a friend of the show and we were talking about CPI too, because we do get CPI for the month of September. It's going to be October 24th, so a bit later than we expected, but that's coming around the corner. But he kind of broke things down with respect to inflation and had this to say.

02:08 Speaker C

So it's no surprise to expect to see headline Consumer Price Index back up above 3%. Our expectation is that it'll continue to climb over the next 12 months. That's the base effect of a tariff. If your washing machine used to cost you 100 and there's a 25% tariff on it, it's now going to cost you 125. That's your one-time price increase. The bigger question for the market is over the next three years, does that price of the washing machine keep going up? And that's where the bond market is telling us, no. That is not the expectation.

02:51 Speaker B

So Brian basically telling us that the bond market, its fears over inflation are pretty muted right now. We'll have to see if they uh we see some kind of divergence in the future.

03:00 Speaker A

Any other records to call out?

03:01 Speaker B

Silver is now greater than gold. On a couple different metrics, finally today, at least uh on my futures data and Yahoo Finance data, you can measure uh the rollover in in futures contracts a little bit differently, but silver finally exceeded its 2011 high. Let's just put a max chart on here. goes back to the beginning of the century and boom, finally took that out. It only took what? 14 years. So it's been an incredible run. And I'll tell you what, you take a look at the year-to-day performance in these uh futures here, and guess who takes the gold here? Platinum takes the gold up 85%. Silver takes the silver. Uh Palladium takes uh the bronze, I guess. And then look at gold in fourth place, 55%, but I think you get a ribbon for fourth place, right? There's no medal.

03:53 Speaker A

It's Monday. Yes. Let's talk Bitcoin. Let's do that.

03:56 Speaker B

Um, Friday did some damage to Bitcoin. This is year-to-date. I'm going to dial this down. Let me actually just show you a five day so we can see incorporate what happened Friday as well. So Bitcoin net down about 5%. However, if I look at the year-to-date here, we are still still in this trading range. Remember how I was saying, well, Bitcoin kind of famous for its breaks, false breaks to the upside and the down. This was a false break to the upside with perfect hindsight. So was this. Uh so as Tom was, Tom Bruni was just saying, 108, 109,000, that's really my line in the sand here and we'll just have to see. As long as we bounce around in the middle there, probably just more range-bound stuff.

04:36 Speaker A

All right, thank you, buddy. Appreciate it.

View Comments