The Practical Islamic Finance Podcast

Liberation Day 🌎

• Rakaan Kayali

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Liberation Day 🌎

In this episode, we will cover:

  • Eid Mubarak & Market Overview
  • Trump’s 'Liberation Day' Tariffs Explained
  • Stock Market Performance Today
  • Bitcoin Hits $85K, Dogecoin at 17.5c
  • OpenAI’s $40B Raise & AI Market Reaction

CONTACT US

salam@practicalislamicfinance.com

ABOUT OUR PODCAST
Our podcast is about helping people ethically build wealth. We cover a broad range of topics, including stock and crypto investing, product reviews, and general financial well-being.

DISCLAIMER
Anything you hear in this video is an opinion. It is not personalized financial advice. Make sure you do your due diligence before making any investment decisions.

As-salamu alaykum everyone. I hope you are doing well. Eid Mubarak. I hope you're enjoying Eid with your friends and family and having a good time. Today, the market ended on a positive note ahead of the big day tomorrow. coined by trump as liberation day this is the day when the much feared anticipated tariffs will go into effect and these are reciprocal tariffs that are primarily going to impact well they should impact basically all trading partners with the united states uh But primarily, it's going to have an outsized impact on fifteen percent of countries that do business with the United States. And we'll talk about those countries in a second, which ones they are. the market actually ended in the green today the s p was up point three eight percent nasdaq was up close to one full percentage point which is sort of indicative that maybe you know absent major surprises maybe the events of tomorrow have already been priced in we'll have to see if you look at you know the list of stocks that we'd like to look at we've talked about on this channel tesla is up three and a half percent bit theory is up one and a half percent iris energy I talked about is energy yesterday and how I thought their move was a good one alhamdulillah this morning we bought it for our portfolio it's up nine percent today And we'll talk about an AOS Energy sort of comparable and how well it did today as well. Enphase is up half a percentage point. Bitcoin is up to eighty five thousand. Dogecoin is at seventeen and a half, basically. Seventeen and a half cents, that is. So very quickly, let's talk about where we stand today. So tomorrow's Liberation Day, as I mentioned, market was green today. The worries about the economy still persist in a big way. The Atlanta Fed actually revised this GDP estimate for Q one twenty twenty five again. And now we're expecting close to negative four percent growth in GDP, which will be the first negative quarter that we've gotten since twenty twenty two. Now, this was not necessarily bad for markets considering, you know, twenty, twenty three, twenty, twenty four was were excellent years for markets. We're also seeing the economy is flowing. There's no two ways about this. If you look at the jobs report that came out today, We were expecting seven point six three million. What we got was seven point five six eight. So we're actually missed expectations even with the slowdown. So, you know, expect more of this to come unless we get a some stimulus in the form of either monetary or fiscal policy. But I do think that tomorrow we unless we get something out of the blue from Trump, that it will be good for the market. I think market sentiment will improve if we can kind of put these headlines behind us. Okay, we know what's going to happen. There's nothing... that is causing nervousness. We're just going to have to digest the new world that we live in, and then we can look forward to the fundamentals, what this means for the market, the winners and losers, and so on. So I do think that fundamentally, if we don't get surprises tomorrow, that it will be good to put this behind us, this Liberation Day, quote-unquote, behind us. Salamat Amin, Salamat Rashad, nice to see you both. All right. So Liberation Day or the announcements of the tariffs and the details and whether or not there are some deals that were cut, whether or not there are some exceptions, you know, which countries are going to be impacted the most. That's all going to come tomorrow. Rose Garden at the White House. Trump will have a meeting. press conference, and that is coming at market close. So definitely tune in for that. That will be very important. Now it's going to, at least word on the street, is that it's going to impact the dirty fifteen, as the administration is calling them. So this includes Argentina, Australia, Brazil, Canada, China, European Union, India, Indonesia, Japan, Korea, Malaysia, Mexico, Russia, Saudi Arabia, South Africa, Switzerland, Taiwan, Thailand. Turkey, the United Kingdom and Vietnam. Basically, everyone who makes anything or the major countries, the major economies of the world will all be impacted. So this will have an impact on a lot of things. And so understandably, the market has been nervous about this. Hopefully, we get some reduction in nervousness after tomorrow. Now, something that was positive that came out today, at least for those who are in this play, OpenAI was able to raise forty billion and that kind of calmed the markets and re-energized the cloud AI, high performance computing markets and the plays that are associated with that. And one of those plays, which we actually talked about yesterday on this live CoreWeave and how iris energy was now switching to something that was similar to core core even in terms of like the business model and what the implications of that will be on the valuation for iris energy and perhaps it will support a more generous valuation considering the better margins that the new business that it plans on intends on uh focusing on will provide um CoreWeave was up and AI token generally were up on the news of OpenAI's new raise. They really can't keep up with the demand, especially now with their photo effects and how popular they've become. They can't keep up with the demand that they've had for their inference services. And so CoreWeave was up forty one percent. It's up four percent after hours as well. I may do a comparison between Iris Energy and CoreWeave and see, you know, which one is the better play here. But I did look at the CoreWeave financials and they're kind of a mess. My first glance at them were, man, this company is kind of a mess. I like Iris Energy a lot more than that. That being said, if you'd like to follow my PIF portfolio, move for move, trade for trade, name for name, then you can do that by becoming a PIF member. There's only one day left. Tomorrow, Wednesday is the day that the promotion ends. And this promotion is quite a generous one, thirty five percent off of our annual subscriptions, premium and elite. So make sure to take advantage of that. And very quickly, we'll take some questions. Eid Mubarak. Niznaz, nice to see you. Assalamu alaikum, Zuhair. Assalamu alaikum, Ali. Nice to see you both. All right, guys. Short one today. Leave a like if you enjoyed this live. Until next time, make sure to take care of yourself. Assalamu alaikum and peace be upon you all.