KG on SPCX Acquiring 80,000 Cell Towers, Crude’s Rally & Key SPX Levels

just a smidge up here 81,000 and change. So a lot of moving parts going into this weekend. out this week. So let's get out to Kevin Green who joins me now. y October S&P global PMIs.e don't give much credence as we know to these numbers. But we've been paying a lot more attention because of the sensitivity of these markets over the lastple of months. I did see manufacturing 56 services 57.9, but I see the selling prices the most in four years. How important is that? really importa actually. It's not only the selling prices but also the input prices. Both actually saw the largest increase to the upside in over four years here. So that's to put pressure on inflation to the upside. And that could makharder for the fed to really hold where they are right now when it comes to their int rate policy. But this has not been a really big headliner in the pas the last month or last month and a half or so, people have been looki it a little bit more because of the inflation picture. But I think we did not. Nothing that was provided in this report kind of signaled anything that was different from the trends that we've seen in CPI, as well as PCE here. So unfortunately, we are seeing that number kind of hit tape. We ave consumer sentiment numbers that also came out as well. We actually had the consumer sentiment revision actually reading revised back to the upside here at 48 Street was looking for 46.3. That was pretty me previous print And the consumer expectations came in at 48.8 as w And consumer of the current conditions came in at 47, previously sitting at around 44.7 here. So a little bit of a slight improvement. Now the one year inflation expectations did come in at 4.7%. That did not change from the preliminary report. Noteeing a very big market reaction. I think there's other headlines obviously geopolitical risk that's really kind of pushing the tape this morning. And then this kind of rotation that we have seen within the tech trade. Let's see if that's going to be able to hold. But we're seeing a lot of movement this morning within communicationervices as well as technology stocks and semiconductors. And I think that's probably going to be the thing that's going to try to hold this market up from these losses that we have early on in the session. Yeah. Let's talk about some of the real estate, the tower stocks versus some of the telcos this morning heading in opposite directions off these reportsround space X. What are we seeing there? Yeah.s are moving aggressively higher. I mean American Tower is up t Wen Castle also moving to the Upside up about 11.3%. And this is after a report from Bloomberg that spa is seeking to secure at least 80,000 cell sites across the US. h Crown Castle here. So that istue have seen a lot of these real es you know, cellular infrastructure stocks actually catching a strong bid over thelf the activity that space has taken. And this could actually createhe fourth largest wireless carrier here in the United States. continue to see this deal kind of go through here. space X i trying to diversify their business. It's not only just going to beocketry. You are now seeing more on the cellular and mobility front. They'll probably start in the rur areas first because it's easier to to ramp up those oons. And then they'll probably start to get into the urban areas. And that's where it becomes a little bit more of a challenge for a company like AT&T or Verizon toable to mai their market share. Okay. A soiously, we did hear some of this news in recent weeks, a imilar move to what we'd seen very much off the back of those developments last time around. So a similar picture here. I mean, what levels are you watching this Friday as tech to find its footing right now? KG we're close to the first one of support that we want to be able to hold. 7622 the downside your first area of support, if we break below that 7585 and then t upside 7720, so a very wide range for this market, obviously a little bit more bullish or bearish up than it is pulle up at this point. And unfortunately, what we have seen even yesterday, we kind of had a little bit of a consolidation. And then that's when we sawhe flush within the market. So you're going to need to have technology stocks asl as communication services kind of lead the way here as we are seeing some of the other broad bas sectors, if you will, really kind of giving back a lot of the gains that we've seen over the last couple of weeks as well. So a little bit of weakness under the surface, but we have a long way to go for the session and just talk to us about the price of oil right now. What is driving things higher? Because it was interesting that I was reading the Wall Street Journal, which had a report out from Kepler saying there seems to bee Persian Gulf than previously. I'm just wondering, obviously through the Strait of Hormuz, but by othereans as well, you know, how much of that is being factoro the price? Is a little bit more clarity on that? And obviously, what is driv the price action today as we head into the weekend, given we're back in triple digits? Yeah, the Kepler data, you know, we'll still see if it's valid. It's going to take a couple of months in order to really confirm those oil flows. Right now, a lot of these institutional companies are actually looking satellite data. So if they see a vlcc that's out or transiting the strait,re making the assumption that there's 2 million barrels of crude that's on that vlcc. And that's just something that we just cannot verify, at least for now But there has been transiting throughout the Strait. And yes, we continue to see ment at are that that Saudi Arabia is obviously really focusing on. I think the price of crude is moving higher for several different reasons. Obviously, we have weekend risk. We have heard lot of newstories about buildup in forces, pretty much on all fronts here.e continue to see an escalation when it comes to Saudi Arabia an their infrastructure potentially being at risk. I think that's the reason why we are seeing prices moving a little bit higher here, at least for today. On the back of that, you're not really seeing that much movement when it comes to the byproducts likegasr diesel. And the diesel story is actually very interes We do have a tanker that is leaving or has left the port, a port in Russia, headed towards New York to bring ome of that diesel that President Trump announced about a week or two ago. that transiting that that transaction is kind of going through. And I think that's also dampening some of the enthusiasm for the byproducts right now. Okay. to t diesel right now on that chart. Thanks so much for