Why Nvidia Dragged The Market Down & Jade Shenker (Owning Manhattan on Netflix)
Money Rehab with Nicole Lapin
Deep Dive
Why did Nvidia's stock drag down the market?
Nvidia's stock fell due to accusations of antitrust issues and monopolistic practices in China, which impacted its reputation as a 'best of breed' stock. This led to a sector-wide sell-off, dragging down the NASDAQ and breaking a winning streak.
What was the impact of Nvidia's fall on the broader market?
Nvidia's fall caused the NASDAQ to decline, breaking a winning streak. The S&P 500 closed down by around 25 handles, but the sell-off was described as minor and not indicative of a broader market collapse.
What was the significance of the recent economic data released?
The unemployment rate ticked up from 4.1% to 4.2%, partly due to the impact of a hurricane and strikes. However, the overall trajectory of employment remains positive, with non-farm payroll jobs increasing significantly from 12-14,000 to 277,000.
How has the market performed in 2024?
The market has seen 57 record closes this year, with the S&P 500 up 27%. Despite global events like wars and economic uncertainty, the market has continued to perform strongly, driven by significant amounts of money on the sidelines being put to work.
What advice does Peter Tuchman give for investing during market pullbacks?
Peter advises having a shopping list of stocks ready to buy during pullbacks, as these moments present opportunities to buy stocks at a discount. He emphasizes the importance of doing homework on companies and only averaging into a stock if it continues to rise.
What is Jade Shenker's approach to commercial real estate?
Jade Shenker is disrupting commercial real estate by applying residential marketing strategies to commercial spaces. She uses social media, events, and YouTube to market properties globally, which has allowed her to sell spaces at record prices, such as a commercial condo for nearly $1,300 per square foot.
How did Jade Shenker's family background influence her career?
Jade comes from a family of real estate developers, and her father taught her the business from a young age, including how to negotiate deals by cold-calling through the Village Voice. Despite being an only child, she was encouraged to enter the male-dominated industry, which shaped her competitive and risk-taking approach.
What is Jade Shenker's show 'Owning Manhattan' about?
Owning Manhattan is a Netflix show featuring Jade Shenker and other real estate agents, focusing on both the business of selling properties and the personal lives of the agents. It highlights the challenges and successes of the real estate industry, including Jade's unique approach to commercial real estate.
What is Jade Shenker's vision for the future in real estate?
Jade hopes to focus on trophy assets, such as properties valued in the hundreds of millions. She is motivated by the legacy she is building and the pride it brings to her father, who has dementia but remains proud of her achievements in the industry.
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