BROADCASTS.com

b'VISIT PETER AT THE LAS VEGAS MONEY SHOW
\\nMay 13 - 15, 2019
\\nhttps://conferences.moneyshow.com/moneyshow-las-vegas/speakers/4532d84bf93311d3a5dd00104b96e7b5/peter-schiff/
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\\nRecorded April 2, 2019
\\nFebruary Durable Goods Order Declined Slightly Less Than Expected
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\\nWe had a quiet day in the U.S. stock market today.\\xa0 Not much reaction from a slightly weaker than expected February Durable Goods Orders number that came out before the market opened.\\xa0 They were looking for a weak number; the consensus was for a decline of 1.8% - we got a decline of slightly less than that: 1.6%. They revised the prior month down from +.4% to +.1%, so we declined less, but from a lower number. Overall, slightly weaker.\\xa0 In fact, the Core Capital Goods number was also slightly weaker.\\xa0 They were looking for a rise of .2%; instead, we had a drop of .1% - although they revised the prior month up from .8% to .9%.\\xa0 Still a little weaker on the day.
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\\nLyft Hitting Lows
\\nBut the market still seems to be oblivious to the weak data, in fact later in the day we did get the auto sales numbers that were disappointing, as well. A lot of bad news is being routinely overlooked by Wall Street.\\xa0 Lyft, the company that went public on Friday: I discussed the lackluster performance of that IPO on Friday.\\xa0 In fact, most of the commentary that I listened to or saw was positive.\\xa0 They were describing the Lyft IPO as a big success\\u2026 everything went great\\u2026 the stock went up\\u2026 But what concerned me about the stock was not how it went up, but how weakly it closed. It pretty much closed on the low of the day.\\xa0 It had sold off pretty much all day, following the pop on the open.
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\\nLyft Sank into Bear Market on Day 2
\\nThe stock came public at $72 and it immediately traded as high as $88.6, but closed the first day of trading at $78.29. Still above the $72 opening, but anybody who bought the opening print was down.\\xa0 Then it got clobbered on Monday and it fell again today.\\xa0 It only closed down slightly.\\xa0 It closed relatively near the highs of the day, but the low was $66.10.\\xa0 That\'s 25% below the peak price on Friday. So that\'s a bear market.\\xa0 In fact, officially Lyft sank into a bear market on its second day as a public company.\\xa0 So that bear market got even worse today.\\xa0 The stock is now better than 8% below its IPO price.
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