Stock market goes up right now, i’m, still not afraid of the inflation. Despite all the talk about it, take a look at the sectors here: bank’s doing okay, today, that’s nice to see we’ve had titanic numbers, but not a lot of price movements. Recently in the banks tech’s new high there, energy, okay industrial – is also up fractionally nice little mix in terms of the markets uh, i don’t normally put up the earnings beats, but remember the market is expecting titanic earnings expectations right now and on average companies have been Beating about 20, the last two or three quarters and they’ve got to keep that up and so far they are. I mean look at this: is the percentage they’re beating we’ve had analysts not even come close to some of these estimates today for bank of america, pnc and citigroup, the most bullish analysts were not as high as the actual numbers came in. This is really quite amazing. If you look at these numbers and there’s a variety of reasons for it, but the important thing is the market believes it. If you look at the board here, what we’re doing here most of these stocks are holding up fairly well today, citigroup! Remember if you look at the chart of citigroup, uh city group member was 80 a few weeks ago, so these stocks are well off of their highs. In fact, they hit their highs really in the earlier part of the year in february and march, but at least they’re holding up okay.
If you look at the bank, uh kbe, the bank etf here, these stocks all had 50 run. Ups 50, in the last quarter of last year, in the first quarter of this year on expectations of higher interest rates there. It is, and they topped when the 10 year top in february and march, and they haven’t been able to get above that really since then. So there’s your primary mover for the for the overall market uh at terms of blackrock larry fink terrific this morning, as he always is, and can i just point out, i know we obsessed about robin hood all of the time here. Who really has the money? Blackrock manages nine trillion dollars in assets? Vanguard manages seven trillion dollars in assets. Charles schwab manages 3.8 trillion. Robin hood manages 80 billion. One percent of what blackrock and vanguard manage now. Robinhood has a lot of wonderful investors that have a lot of small amounts of money. Blackrock and vanguard and schwab have a lot of investors that have much larger accounts that are there i’m, just pointing out where the actual money is and perhaps where we sort of focus some of our observations. Uh overall here meantime, the ipos keep coming kenny victor’s behind me. Just rang. The bell for his company went public a little while ago, but we’ve got 15 ipos trying to raise almost 4 billion dollars. People said it’s got to slow down from the first quarter: it’s, not here’s.
What i don’t like year. To date, the average ipo is up 18, but aftermarket aftermarket means what happens on the day after the first trading it’s down the average ipo is actually trading down. After its first day about nine percent that’s very disappointing, why? Because it means the average guy who gets in on the first day is not making any money. Only if you get in before and start trading on the first day do you make money and only 53 percent are actually above their ipo price right now. Is that good or bad and it should be above 60 percent, so a little bit of disappointment? Yes, lots of ipos. Yes, first day, pricing fabulous after that. Not so great you want to keep an eye on that. We’Ve got some big ones. This week, though, we’ve got for by the way, take a look at krispy kreme. I just want to point out: krispy kreme is a good example. 17 prices closes at 21 on the first day: okay, it’s 17. Again you see it’s still not a lot. It’S, better it’s made some money, it’s, not losing money, but you see what happens. All the money is made on the first day uh there meantime this week, a lot of them. I mentioned 15 of them i’ll just point out, one of them: f45 training, uh, big global tech, franchise, 20.3 million 15 to 17 ship price tonight, and maybe we’ll see mark wahlberg, who knows tomorrow, carl that would be a lot of fun, bring some celebrities back on The floor remember when that happened all the time every day movie stars were coming down here.
You know the marvel universe, people i miss that bring them back. Uh i’d, like that very much uh bob yeah we’ll, see if wahlberg will maybe come to the mic.