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It's time for Young Finance's market minute. Stocks wavering after the House passed its budget bill. Investors weighing what it could mean for America's growing deficit. Checking in on Snowflake shares, they're jumping after the cloud storage company reported quarterly revenue over a billion dollars for the first time. Snowflake also issuing upbeat guidance as it benefits from enterprise spending on artificial intelligence. Shares of chipmaker Navita soaring today, up around 130%. After after Nvidia tapped the company to.Elaborate on its next generation data centers Nvidia shares are also higher on the day, just under 1%, and telehealth company Hims and hers under pressure as analysts expressed caution around the company's growth outlook. City flagging that Cigna's drug benefit unit capping out of pocket costs for weight loss drugs to $200 a month could pressurehys and hers. The A also expressing concerns about slowing sales at the company, and that's your Yahoo Finance Marin. For more on what's trending on Yahoo Finance, scan the QR code below.

Welcome to Wealth brought to you by Synchrony. I'm Brad Smith, and this is Yahoo Finance's guide to building your financial footprint. Our community of experts will give you the resources, tools, tips, and the tricks that you need to grow your money. On today's show, it's an IPO day. A tech firm Mountain set to begin trading on the New York Stock Exchange after raising $187 million. We'll break down the big day with the company's CEO.And the House passed President Trump's tax bill. The legislation now heads to the Senate. We'll discuss what the bill could mean for your money. Plus Bitcoin hitting an all-time high. We'll discuss how the ultra wealthy are investing and dig into some of the lessons that everyday investors can benefit from all that much more coming up during this hour. But first, let's take a look at some of the market action. We're 90 minutes into the trading day.Major averages are mixed right now. This is after the House approved the president's Trump backed tax bill. Many investors expecting volatility to continue and adjusting their portfolios accordingly. So joining me now, we've got Sandra Cho, who is the Point Wealth capital management founder and president. Good to have you here with us. We're we're watching different sectors in the short term and long term. What are your short term picks? Let's start there.

Thanks for having me, Brad. Yes, with all the recent volatility, you're exactly right. We are definitely more defensive. We've increased our exposure to alternatives, like, for example, structured notes, um, and other liquid alternatives, and, um, you know, as far as what we're really looking at, we're looking at mid-cap growth, which is really outperformed year to date, and we're cherry picking across the board, whether that be, you know, mid-cap or large cap.Um, companies like, for example, Core Weave and Duke Energy. Energy has been hit very hard, and um for Core Weave, it's really, um, it's an interesting company. Uh, they focus on AI and GPU computing. They've had huge investment by Nvidia and they have a strong partnership with them. Uh they have performance, scalability, and flexible pricing and cost savings. So we're looking at core weave and um manual Life is also interesting.Um, they have a resilient balance sheet and consistent profitability, and that is something that's so important right now with all this all thisvolatility.

And, and just to kind of put some clarity on it, how are you assessing the time range or the horizon rather for some of those short term plays versus some of the long term that we'll get into in a second.

Yes, as you can see, we don't have any control over the short term, and all we can really look at is kind of drill down into what the valuations of these companies are and um the revenue and then how you know how susceptible they are to say, for example, the tariffs. So you know, like your previous guest was saying, there is this 10:30, this you know.Range that we might have in tariffs across the board depending on the country and that is going to affect different companies differently so we're really looking at that that's just um you know just one of the focuses that we're looking on when we're assessing which companies we're cherry picking.

OK, so let's get to the long term. Where are those opportunities in your, in your view?

Yeah, so, you know, we really do like, um, um, you know, large caps, strong stocks, but like I said, we like the midcap, midcap, we feel that there is, um, potential for continued outperformance. And, um, you know, once again, if you look at year to date, mid-cap growth has been the strongest performer. Of course, now we also look at international, like you've seen strong inflows into international developed markets.And we think that that is going to continue for, you know, until the end of the year and um and really, I would say, uh, into 2026, and emerging markets. So, you know, we all know that there's no love lost with Trump and China, butBut uh it's just a fact that emerging markets have outperformed the US market. Likewise, there's been tremendous outperformance. I think last time I checked something like 13% outperformance by um uh by international develop markets compared to the US S&P.

You know, I was taking a look at a few charts out from uh Thorsten Slack, chief economist at Apollo, talking about the negative impact on tariffs of tariffs on earnings here, and most notably here as we're thinking about, you know, of course the decline that we've seen or the move back off the most high levels of the 145% tariffs on China now to 30%.There's still a headwind to corporate earnings that could remain significant. How are you assessing that risk across some of even the long term and short term plays that you were just identifying?

Well, so, you know, um, like I said, different companies are going to be affected differently and so we also know that, um, you know, this was gonna happen, right? We could see this happening, um, in his first administration, he did it. So we're just looking at diversification, focusing on um international and especially because the US dollar is declining, you know, there's that additional potential alpha just with the currency.Exchange. So we're looking at that, but looking at individual companies, you know, um, like you said, the tariffs are going to be affecting it, and that's why we're looking at companies that are going to be, you know, that have more resiliency, that are strong, that have good balance sheets and companies that pay a dividend because those are companies that um are going to be bellwether companies that you can rely on and basically be paid to wait through this volatility.

Central, great to see you here this morning appreciate the time.Thank you.TV ad tech company Mountain is set to begin trading on the New York Stock Exchange Thursday. The company, which provides ad services and software for TV campaigns, saw revenue grow 47% on an annual basis in its most recent quarter, though it's still reported a net loss for the period. Joining us now we've got Mark Douglas.The founder and CEO of Mountain alongside market domination, co-host Julie Hyman, Mark, great to see you here. Congratulations on this milestone day for the company. Why was now the right time and ultimately that pathway to profitability that the street is going to be grading the company on going forward.

Yeah, so I mean in terms of the market window now is a really good time. We've been prepared to go public for quite a while. We think it was something important. We drive revenue for our customers, small and mid-size businesses that entirely use digital marketing to drive their revenue. We enable them to do that on streaming TV and so they are dependent on us and we want it to be transparent.Parent in terms of the growth of the business financials for the business in terms of profitability on adjusted IBEA basis we did $39 million in profit last year. We had record Q1 for the company and so, you know, adjusted Ibida is kind of the metric that I think a lot of investors use and we're really confident in our growth and and Ibida also as as some of the stock based comp burns off.

Hey Mark, it's Julie here. So, um, what are you going to use the proceeds from the IPO for? What are you focusing on sort of as your next phase of growth?

Yeah, so we intend by the end of the year, half of the people at Mountain of our team are engineers, so we think it's to be in this market to compete to give our customers a path where they can use paid search from Google, paid social from meta, and use Mountain performance TV on streaming TV. That takes a lot of engineering technology and a lot of engineering talent to do that and so we're.Focused on that a third of our headcount right now is engineering. We plan to end the year at half the headcount. The company is engineering.

And so as you think about what this would rely on, it sounds like it would rely on there being more ad tears that come forward. What are your anticipations? What are kind of the rumblings of the ground that you're hearing from some of those major streaming companies who are trying to figure out their own plays for the next 5 to 10 years?

Yeah, so Mountain, we have partnerships with virtually every streaming network in America, like all of them, and the and the all the smart TV manufacturers Samsung, LG partnerships with NBC Universal, um Warner Brothers with HBO Max, Paramount with CBS and so we partner with these companies and we essentially bring the SMB market, um, channel, I should say, and advertises into this market again.By giving them a performance marketing platform, I think increasingly those companies see that as their source of growth, just like, you know, people say in the US economy, small mid-sized businesses are account for most of the growth in headcount.In this industry, most of the growth is gonna become from small mid-size businesses, and we're partnered with the entire industry to make that happen so that's what we're focused on and when we talk to these companies, so that's a big part of what they're focused on also.

Mark, um, how are those companies doing? I mean, there's been a whole lot of questions.Around advertising spend from enterprises large and small in this current environment there's also been a lot of talk that even the diminished tariffs are going to hit small businesses harder than they do large ones. So what does that look like for you guys in terms of advertising demand?

Yeah, I mean in terms of performance marketing where we play digital performance marketing, I think most people actually say it's pretty recession proof that, you know, even in the worst of times Google and Med have done well, um, we obviously are doing well in terms of the numbers we posted.And so we're not seeing any drop off really at all, um, you know, when in in times where maybe companies are a little challenged they don't really compromise their ambition they still wanna grow and the first thing they invest in is any marketing activity that's going to be directly measurable and directly connected to.That growth and that's literally exactly what we do for streaming television and we're not seeing um any issues there in terms of large global brands that may be a little different from what I'm hearing even there there hasn't been any kind of downturn or anything like that but we the companies building their brand and finding the next customer they're.They're not planning to compromise that we're partnering with them to make it happen.

And Mark, lastly, I got to say most of the headlines that mention Mountain, it's IPO, other news, they mention your chief creative officer Ryan Reynolds, who's brought a lot of attention to the company. I know his title is Chief Creative Officer. What does he do for you guys? What does he do there? What role does he play?

Yeah, so he is literally our chief creative officer from everything like um the hardest working software and television to we use our own platform to make small mid-size businesses aware of Mountain. He creates a lot of those commercial.Our own commercials. He's in, you know, a number of them social media posts. He also does sales calls. I mean, Ryan honestly works harder than anyone I've ever seen. I mean he is committed. He likes to win.And you know he's not afraid to to basically make it happen, so he's essentially leads our own brand marketing efforts, partners with our performance marketing team, and as a result, the vast majority of our revenue comes from inbound leads companies discovering us through those efforts and so we're continuing to partner with him. He was at the start of the road show for the IPO and so he, we're excited and I think he's excited too.

Yeah,you kind of indirectly.Reference him within the S1 filing talking about the global influencer with millions of social media followers to the company's benefit here, you know, I, I, I wonder, especially as we think about influencer marketing and where that sits in the broader kind of pie where those marketing dollars are going to go. Some of them will go towards traditional advertising for which Mountain's gonna be looking to see where it can make sure that it's getting that. Some of that's gonna go increasingly to influencer marketing as well into platforms where they know that there's shoppability.How are you, uh, really assessing that mix in the way that other companies are thinking about this?

Well, the, the, it, it actually seems like those two things are starting to merge. I think one of the biggest ads at the Super Bowl was Poppy. It might be called the ad that sold the not just the product but sold the company itself, and it was just filled with some of the biggest.Social media influencers in the ad, um, we're seeing a lot of that happen with our customers where they're increasingly wanting to put social media influences in their their streaming television advertising commercials um someone that's very close to me is runs an influencer agency.And has been, you know, kind of that's been, she's been showing me a lot of that happening so we we actually think those two markets are potentially converging in some way and we're like actually really excited to be partnering with influencers and kind of, you know, they're obviously doing a lot of work on social but now you know starting to do that same kind of work but doing it on streaming

TV right, might be the next acquisition target. we'll we'll have to follow up on that one. Mark, thanks so much for taking the time and Julie.

Thank you.

The House passed President Trump's big beautiful tax bill by just one vote, 215 to 214. The bill now heads to the Senate following a week of last minute changes and all night debates. House Speaker Mike Johnson says he wants to get the bill signed into law by July 4th. So what's in it for you? First, the bill extends individual rates in the 2017 Tax cuts and Jobs Act signed by the President, President Trump, in his first term.That means the top tax rate for the highest earnings stays at 37% while the lowest rate remains at 10%, a major change for taxpayers, the salt deduction, that's the amount that you can deduct for state and local taxes on your federal return.The cap would increase to $40,000 from $10,000 for joint filers, but only for households making under $500,000. This is a big deal for taxpayers in high tax states like New York, New Jersey, and California, where local taxes can really add up. Critics say this benefits wealthier households and will add further to the national debt, but supporters say it brings back a level of fairness.The tax bill will also fulfill Trump's campaign promises to eliminate taxes on tips overtime and loan interest on American made cars, although those provisions would expire in 2029, and there's some benefits for parents in the bill. The child tax credit would increase to $2500 per kid. That's up from the current $2000.And parents of some newborns could get a $1000 account invested in the market in the child's behalf. Seniors would also get a boost, including a new $4000 bonus deduction for Americans 65 and up, but it phases out for individuals who earn more than $75,000 or couples making over $150,000.On the spending side, the bill tightens the rules for government benefits. Staring at the end of 2026, childless, able-bodied adults need to work 80 hours per month to qualify for Medicaid benefits. The Congressional Budget Office estimates these changes could lead to 7.6 million Americans losing health insurance over the next 10 years.Additionally, the bill's changes to the Affordable Care Act are expected to cut coverage from several million additional adults. The legislation also cuts billions in federal funding for SNAP, the supplemental Nutrition Assistance program, putting the onus on states to cover more of the costs. More than 40 million Americans rely on this food assistance program.We've got all your markets action ahead. Stay tuned. You're watching Nale Finance.Existing home sales edging lower in April, down 0.5% compared to the month prior, according to the National Association of Realtors. For more on what this signals about the health of the housing market, I'm joined by Lawrence Yon who is the National Association of Realtors chief economists here. So let's just start there, Lawrence, and, and great to check in with you as always here. What exactly does this signal right now about the health of the housing market?

Well, we are just getting started in the spring home buying season, uh, critical months, uh, for the, uh, home sales activity, uh, which happens, you know, from spring all the way to late summer, uh, and the current activity at 4 million. This is 75% level of normal, you know, pre-COVID we had home sales running at above 5 million, but now we are running at 4 million.And this is due to the fact that not that people do not want to buy a home but affordability challenges we know that jobs have been constantly being added to the economy. Job growth always accumulates potential home buyers, but they are unable to get into the market because of elevated mortgage rates.So that's where we are currently.

So, so what's the treatment then after such a diagnosis as the, the health right now of the housing market versus what needs to take place to get mortgage rates down? I mean, President Trump campaigned on 3% mortgage rates. It doesn't seem like we're gonna get down to that anytime soon.

Now, the, uh, during the first term of President Trump, mortgage rates averaged 4% to 5%. That was under first term President Trump right now mortgage rates are 7%, uh, clearly much, much higher, uh, and it's not going to go back to 3%, 4%, 5%. It may get to 6% if we can get the budget deficit under control. Furthermore, we need to get the overall.Consumer price inflation under control. We know that the Federal Reserve is constantly mentioning about tear up concerns, but I think the Federal Reserve should look at the shelter cost component of the consumer price inflation which has been strongly decelerating. So with the decelerating trend, I think the Fed could be in a mood to say cut interest rate much sooner than anticipated, so they should look into those uh condition, uh, but we need to have lower mortgage rate to truly get the home.Buyers into the market now home sales are sluggish, but let's remember we have an all-time high in home prices, so homeowners are doing very, verywell.

And so do you think 6% is that sweet spot that would bring current home owners perhaps back to the table to list their own real estate and then for some potential buyers to feel like, OK, this is at least close enough to where where I should be comfortable entering the market.

Uh, it's about buyers. We are seeing more, uh, more inventory coming onto the market. The latest data actually shows 5 year high in inventory. We are still below pre-COVID. We are still in a tight market condition, but inventory is beginning to show up because of life changing events, people having new jobs at different places, marriages, divorces, additional child retirement, all these factors.Leading people to say look I want to get into a different house so we are seeing more inventory but not a pick up in home sales to get a pick up in home sales we need better affordability and that is the magical power of lower mortgage rates.

We've also seen a slump in single family bills. What what does that hold for existing home buyers and sellers right now?

Uh, you know, the builders are back up to the pre-COVID sales activity. I think the builders were spooked somewhat because of the tariff issue, uh, the cost of construction, uh, but the demand is clearly there, you know, the builders were able to do some incentives such as mortgage rate buy down. So rather than doing a price cut they were essentially using the money.I could have done with a price cut, but did a mortgage rate buy down and therefore induced people to come into the market. So again, mortgage rate is critical, but since I'm in a wealth program with you, I also wanna mention on the tax bill that is not being discussed which is child savings savings account. It's not about a children saving money into the account, but it's about parents grand.Parents other people able to donate money into the child savings account which later when they grow up they can use to buy a home so we know that home ownership brings tremendous amount of wealth so I'm really excited about that component of the taxbill.

Alright, we'll see exactly how that holds up as it gets through and works its way through the Senate as well. Lawrence, thanks so much for taking the time. Good to see you.Thank you.A new study reveals only 5% of respondents who have an escrow account with their mortgage completely understand how the account works, so we're gonna break it down with senior housing reporter Claire Boston. Claire, let's just demystify.What this is, what is an escrow account and who needs to have one? Hi

Brad. So an escrow account is a special account that is set up um for you to set aside payments for your taxes and insurance associated with owning a home. escrow accounts are very, very common. Around 80% of people have them. Anyone who did not put 20% down and has.A conventional mortgage has an escrow account and even some of those people who did put that big money down, they like the escrow account because it allows them to set aside a little bit every month for those, you know, big tax bills that we see, you know, typically year end or often at the beginningof the year.

Now, I can't lie on headline alone sounds kind of concerning that half of these survey respondents who have this account say they, they don't really know.How to use it or completely understand it in entirety.

Yeah, it is a little concerning um you know one thing that I've heard is kind of people, when you're buying a home, you just are signing so much paperwork you may not be looking at it all, um, but the concerning thing about not knowing what your escrow is doing is your escrow payment can go up and that will happen if your insurance goes up if your taxes go up, and that can really catch people by surprise, especially in an environment like this where a lot of people are really stretched.The monthly payment they're making on their home can be a lot of money. Uh, so if you get the surprise bill that, you know, suddenly your escrow is gonna go up every month by say $100 that can be really difficult for like a normal consumer

relative to perhaps historical averages, are a lot of people seeing their escrow payments go up right now? Yes,

it has become a bigger problem in recent years, and that is just a reflection of home prices in recent years. We have seen so much home price appreciation.That is causing local tax assessors to assess at that higher rate, so your taxes are gonna be higher. And then we're also seeing just in terms of insurance, insurance costs are really rising in much of this country as we see more natural disasters. And so, you know, not understanding escrow can be a really big issue for how people plan things monthly doesn't mean your mortgage went up. You're still paying the same principal and interest, but it is for those taxes and that insurance.

Claire, thanks so much for breaking this down for us.

Thank you.

Coming up, the US Treasury Department says it will stop producing new pennies, but that might actually save the US some serious doubt.Now time for some of today's trending tickers. We are watching Target and Urban Outfitters. Joining me now, we've got my morning brief co-host Madison Mills. First up, Mattie, we got to set the stage here. Target, Target cut to neutral from buy at Bank of America. This is following a sluggish first quarter. The retailer says partly due to consumers protests around its diversity, equity and inclusion policies in the reverse course there. BFA writing in a research note that they're unsure when sales will bounce back and expect.Profits to be squeezed. Shares they are higher today by about 2% here. We were watching this one closely when they did report earnings though.

Yeah, one of the things that stands out to me from this note here is that they talk about how the gap between Target and their peers has continued to widen. They do continue to see strong trends in digital and seasonal events and merchandizing initiatives could help, but they're underperforming their peers like a Walmart, for example, when it comes to things like foot traffic.And comp sales, they also obviously talk about the company's gross margin and EPS miss and the lowering of their guidance here off the back of concerns about their digital fulfillment and supply chain costs, uncertainty on the top line as well, and softer sales driving higher markdowns and thus incremental margin pressure for the company longer term. They also think that growth and high margin businesses like marketplace and digital advertising could support stability, but I think.It points to the question mark in the room for now for a company like Target that has said they're going to maintain prices. Do analysts necessarily want to hear that from a company that is definitely going to be impacted from from tariff policy, that there's not going to be that cushion on profits that comes from raising prices on

consumers. Yeah, former vice chairman Jerry Storch telling us earlier today that they're operating in a way that is off strategy and they're not who they're supposed to be right now if.Will and who they always have been, so, uh, not executing well was his kind of net takeaway from that. Yeah, also here in retail land, if you will, Urban Outfitters soaring after beating on the top and bottom line in the first quarter. analysts highlighting the performance of its namesake brand, which also beat on net sales here, taking a look at shares, they're up by 22% here today, uh, ripping to the upside, one might even say like those ripped jeans. Hey,

nice, good job, good job, yeah.Capital markets saying that it is a broad-based beat for urban Outfitters here. Strong momentum believe that barring a slip up or macro pressure emerging later this year, they continue to see that momentum going forward and it's interesting. Remember, Urban is the parent company of the likes of Anthropology, Free people, and that namesake brand Urban Outfitters. They also have the clothing rental line through newly here, but we did see sales beats really across the board here, obviously a bigger beat when it came.To urban outfitters on estimates but also a beat for free people we came in just shy actually for free people, but it was a beat on anthropology, uh, newly net sales also coming in above the streets estimates and the retail net sales coming in above estimates as well. And what's interesting about that mix is that it hits a lot of different income streams as well. So Urban Outfitters perhaps a little bit more accessible brand for consumers versus the free people and there is a little bit pricier.

Yeah, good Philadelphia-based company there and no doubt they're probably celebrating, uh, the passage of the Tush push continuing to be able to be used. Anyway, all that considered, you can scan the QR code below to track the best and worst performing stocks with Yahoo Finance's trending tickers page. Mattie, thank you.The US Treasury Department is officially phasing out the penny. The Treasury made its final order of penny blanks and will cease production once those blanks have been used. Back in February, President Trump announced his intentions to remove the penny from circulation.Writing this is so wasteful on Truth Social. Americans can still use any pennies that they already have in their possession, but according to the Treasury spokesperson, demand for the coins is shrinking, and there are already 114 billion in circulation.The number of new pennies has been on the decline for the past several years, with 3.2 billion new pennies produced in 2024. Businesses will soon need to adjust prices to the nearest 5 cents as fewer pennies become available. According to a US Treasury spokesperson, the move is expected to save at least $56 million per year with more savings to come. It.Just under 4 cents to produce each penny to the tune of $85 million in losses for the government last year, and according to waste management company ReWorld, Americans throw away $68 million in coins each year. The penny dates back to the founding of the US Mint in 1792. It was originally made of pure copper but was mixed with nickel starting in 1857.President Abraham Lincoln's profile became the first real person to be featured on a US coin starting in 1909 and now the coin's tenure is coming to an end after over 230 years.We've got all your markets action straight ahead. Stay tuned. You're watching Yahoo Finance.We are so excited to partner with Synchrony Bank, our premier sponsor for Wealth. Synchrony Bank is working with Yahoo Finance and Wealth to bring you the insights for your personal finance playbook and help you make your money work for you. Let's get a check of the markets here as we're taking a look at the major averages. We'll start with the Dow Jones Industrial Average as we're seeing that kind of hyper waffling here on the day, touching both sides of the trade as of right now flat just barely to the upside. We'll continue to keep close tabs on that. The Nasdaq composite here in.that's holding on to some gains that we've seen as we start off the day basically in negative territory. We've now spent most of the session here in positive territory in the green. We're up by about 0.5% there and the S&P 500 right now again hyper waffling, oscillating in and out of gains and losses here right now up 0.0%. We'll see if we can hold on to that. Taking a look at some of the, we'll come back to this cryptocurrency deal here, but taking a look at the 11.S&P 500 sectors. This is a one month view. I'm glad you got a gander of that because take a look at the intraday view here if I may, on your screen here XLU, that's pulling up the caboose. That's down 1.7%. Consumer discretionary though that is catching a little bit of a bid here on the day. That's up by about 40% more laggards than gainers as of right now here looks like just about 3 gainers on the 11 S&P 500 sectors and taking a look at the Nasdaq.100 inch a day, uh, this looks like a lot of red and it's being pulled right now weighed on by analog devices that's down by about 4.5%, 4.4% here. You're also seeing on semiconductor moving lower by about 3.25%. However, let's get to some good news. Why don't we here? Everybody wants something to clap and cheer about, uh, and I'm trying to pull up Pallanter's chart for you. There we go. PLTR right now you're seeing that move higher.It's up by about 4.25%. Let's put this on a year to date view because it's been interesting to see how we've bounced off of some of those April lows and essentially gotten back to some of the ballpark highs here for the stock and PLTR right now still holding on to gains year to date of about 66%. And lastly, let's just ride out with a look of crypto because this is gonna segue us into our next conversation very well here BTCSD up more than 2.5% here on the day.Bitcoin hitting a record high, rocketing over $111,000 per coin on Thursday. The cryptocurrency is soaring on growing optimism around US regulations, and we want to talk about how crypto might fit into your portfolio and lessons that everyday investors might learn from the ultra wealthy. Here with more we've got Michael Sonnenfeld who's.Founder and chairman of Tiger 21, an exclusive peer network of wealth creators who are navigating, managing, growing their money. Michael, great to speak with you once again. Thanks for taking some time here with us on wealth. Just talk to us about what you're seeing in some of the thought process among the ultra wealthy thinking about adding and maintaining crypto in their portfolio right now.

So, you know, our members uh are wealth creators who are now trying to preserve capital. They've had a liquidity event, they've sold their business and they want to hold on to what they have.And across the board it's about 28% private equity and about 28% real estate and then 24% public equity, but the cryptocurrency is a lot of excitement in the aggregate because our members manage about $200 billion of their own wealth across our 1600 members.The cryptocurrency might only be in the 1 to 3% range. So across our group, 56 billion in crypto assets, but we have some diehards who have huge allocations within their own portfolios. And just look at Bitcoin. We've, you know, Bitcoin not only is doingSomething amazing now with an all-time high. It's been the top performing asset across the board for, I think, the last decade. And so you have believers who are being validated not only by crypto's extraordinary performance in Bitcoin, but now Coinbase being added.Uh, to the index and that's, that's really going to propel some more conservative institutions to give it a better look.

Certainly, and I just want to come back to the numbers that you just mentioned a moment ago. You said about 28% private equity, 28% real estate, 24% public equity, which gets us to 80% of their portfolio. So is that last 20% just holding cash plus

crypto last 20, last 20% is half in cash, 10%.That's uh pretty typical over the last decade. Hedge funds have been decimated over the last decade, down to 1%. It's, it's unbelievable. And then there's commodities like currencies and gold, um.Bitcoin right now is sort of neck and neck with gold within our members. It's a storehouse of value of all the cryptocurrencies. Some of the cryptocurrencies are focused on transactions, other on storehouses of value, and the general consensus is that Bitcoin, while not as flexible,In transactions is a better storehouse of value, and they're looking at it as a superior gold substitute. Some people like gold, some people like all of the digital aspects, uh, of blockchain and so forth, uh, in Bitcoin.

What were some of the propensities to, to stillRisk on that you saw from the ultra wealthy who you engage with even when we saw massive pullbacks during the month of April as we were looking across some of the most risky parts of the investment thesis, Bitcoin continues to be one of those. How are they picking and choosing what those entry points look like within Bitcoin?

Yeah. So,UmIf you're a Bitcoin fan, every timeIt's a dip. You think it's a buying opportunity if you have a long term thesis. If you're sort of a day trader, which very few of our members are, you might be nervous when the, when the price falls, and that's what makes a market. The people who have a fundamental view might see a dip as an opportunity.And the people who are more reacting to momentum or the curves that are going on, the ups and downs, they might get a little more nervous, but we have within our 600 members, a very small minority but growing and more vocal feeling like the thesis they've been talking about in our groups with our members. Our members get together every month for a full day, 12 to 15 people, and learn from some of the top.Experts in the world, what they're thinking and how they're processing it and we have some pockets of Bitcoin expertise that are at the top of the world and they've just been singing the praises for a decade now.

And so how can everyday investors who might not beYou know, ultra wealthy in bank account, but ultra wealthy in spirit perhaps and trying to get to some of those aspirational goals, where are you seeing them kind of average into and make sure that they are getting into better positions for their portfolio looking at what the ultra wealthy aredoing?

You know, all of economic analysis says that market timing generally does not work if you're a believer in Bitcoin.You could either make a one time allocation that brings it right up. If you say I want 3% of my assets, whatever your asset base is, or 5%, you can do that. Some people like averaging in, so they say I'm going to average in over a year with 1 12th of my allocation every month, but reacting to intraday trades.Has very little effect on the long term return. If you're right, wherever you're getting in now doesn't matter whether it's at a high or low for the week or the day. If you're wrong, it won't matter either, but the history shows that trying to time the market is much less effective than setting a long term allocation and legging into it.

Great to see you, Michael. Thanks so much for taking the time as always.Workplace burnout a growing problem among American workers. We've got steps to help mitigate it next on wealth.Workplace stress and burnout is rising among American employees. According to a report from Aflac. Nearly 3 in 5 Americans struggled with burnout last year.Joining me now is Aman Alta, who is the executive coach and the ambition trap author. Congratulations on the book. Let's just start with the basics. What causes burnout?

So burnout is multifactorial, but I really think that it's a systemic and economic problem, and there are some things that we can own on our side of the street too. So for example, invisible labor is on the rise, so invisible labor is the work that we do that's unseen and unpaid for, and we can absolutely rein that in.And in my new book The Ambition Trap, I also talk about us really sourcing our ambition from a place of wholeness versus a place of pain because when we're deriving our ambition from that pain that can burn us out too.

So according to a new study from the CUNY Graduate School of Public Health and Health Policy, burnout can cost employers up to $5 million per year in lost productivity. So what can employers do to minimize the business impact as well?

Yeah, absolutely. I think it's really important that we check in on our employees that we.Define success with them because we all have different versions of success and I also think it's really interesting that we think that you know working harder is gonna get us to the goal but burnout actually you know performance really suffers and so does the bottom line so if we're healthier we're supporting our employees to be healthier, there's an impact on the bottom line as well.

You mentionedsome steps that employees can take to mitigate burn out on an individual level. The first is identifying that invisible invisible labor here. So once you've identified it, how can you then.And of course correct on the other side

too setting some boundaries around it so identifying where you're over indexing with that invisible labor setting some boundaries with your employers if you can at home as well because we do invisible labor there too.And I also talk about how we want to adjust our tolerations so the tolerations are the things in our lives that we're tolerating that we need to raise the standard on. So where do you need to raise the standard for yourself so you can take better care ofyourself?

How do you communicate that with your your boss or your team say, Hey, you know what, actually I'm not taking this this week.

Yeah, one of my favorite formats to use is the SBIS model. It stands for Situation Behavior Impact Solution.And so sharing that with your manager, what's the situation? What's the behavior, the behaviors I'm overworking the impact of that actually the work product is suffering. So my suggestion or request moving forward is maybe we can manage our trade offs a little bit betterhere.

You also say that some employees should examine their ambition.What does that entail in practice? Yeah,

so sort of the essence of the book. I believe that ambition is neutral and natural, and it simply is a desire for growth or a desire for more life, but we have a tendency to make it right for some people and wrong for others, but also a lot of us are coming from a place of pain with our ambition. We're coming from a core wound right when our desire for success is coming from pressure, pain, or external validation and so we want to look at those core wounds and instead pivot into more purposeful ambition.

How can employers also make sure that they're identifying ambition.Building success tracks correctly or or correctly and ensuring that they're also helping some of their employees, their teammates and colleagues kind of reach some of those goals that they're collectively setting.

I think we need to level the playing field a little bit because a lot of people experience an ambition penalty. So for example, ambitious women are often seen as aggressive or too much. That's the data and then we enter the workforce with the same levels of ambition, ambitious men are often rewarded for theirs. Ambitious women see it as a a detractor. And so I think we need to level the plane.around it,

howis virtual and remote work changed all of this?

I think it's changed it significantly, right? So many people really value and benefit from FaceTime, um, certain communication I think is read differently over, uh, through our screens versus in person so we have to adjust for all of that plus we have 5 different generations in the workforce all at once and we all communicate differently and so we have to adjust for that too,

yeah, some with uh punctuation and some with, you know, all lower case and emojis. Yes, I'm great to have you here with us. Thank you so much for having me.Universal Studios. Epic Universe Park is officially open for business. The first guests entered the park this morning. The 750 acre expansion costs an estimated $7 billion and adds 5 theme worlds to the company's Orlando park. Here to break down everything you need to know, we've got Yahoo Finance senior reporter Ali Canal and uh resident Amusement

Park. Yeah, I wish I got to go to the opening.

Why are you here? No,

come on, Yahoo Finance. Send me to the opening.But no, this is the most aggressive and ambitious theme park expansion for Universal to date. You mentioned those five immersive worlds or lands that include Super Nintendo World, Dark Universe, How to Train Your Dragon, Ministry of Magic, which is a Harry Potter themed world, along with Celestial Park, and that'll be the central hub, and this really positions Universal as a direct competitor to Disney here instead of it just being a two day add on for.Disney vacation. This can now be a weeklong vacation destination because the park now includes 3 new hotels that adds 2000 rooms here in Orlando, and that brings Universal's total to around 11,000 compared to Disney's roughly 30,000, so still very small on a relative basis, but it is expected to attract over 5 million visitors in 2025 and nearly 10 million by 2026. So this is a big deal.For Comcast, we are seeing shares off a bit down around 1% at this point, but it's going to be interesting to hear the commentary over the coming months and see how people really respond to this. Is

Disney shaking in their big ears right now?

That's the big question, and it's been a question for a few months, and the biggest risk would be cannibalization right between the two parks on the Disney front, Parks chairman Josh Shamaro, he really shrugged that off, saying that they actually think Epic universe is going to expand the Orlando.not take away from Disney's share. He emphasized the fact that the parks business and the studio side of the company, they're very linked, so people go to the parks to see the characters, to be reminded of the stories, and that's a competitive advantage for Disney. And then overall they have ambitious plans on their park side as well. They plan to invest $60 billion in experiences over the next decade. They say there's significant land opportunity. They have cited strong return on investment.There new technologies along with some operational flexibility as well and we talk a lot about the consumer and the potential squeeze back there when it comes to discretionary spending, but so far for bookings, especially in Florida, they've remained very strong. And then for on the ticket price front, Epic starts at around $139. That's very comparable to Disney, so shows that premium positioning there. So we'll learn more in the coming months and really into the fall how.These parks are performing, but analysts seem to be bullish on both opportunities, right, that the live experience, those types of events going to these theme parks, that's what consumers want right now. A big risk to that though, of course, is that there's any, you know, further I guess deterioration on the economic front.

Yeah, 15 seconds or less pricing front, how do we see this kind of competing long term knowing consumers are kind of pulling back a little bit? Yeah,

there's multi-day ticket pricing, 140 bucks.To enter the park, I mean, it's not cheap to do these types of experiences, but even if you look on the cruise side of the business for Disney, that's sold out considerably every single time. So, uh, people are still spending at least on these experiences. We'll see if that changes. Alright,

soundslike I'll be heading back to Pigeon Forge, Tennessee. Allie, thanks so much for taking

the

time. Appreciate it. That's it for wealth, everyone. I'm Brad Smith. Thank you so much for watching. You could stay tuned for market domination that comes your way 3 p.m. Eastern time. They'll count you down to and through the market close. You don't wanna miss it.