Finance with em and Lucas very well, gentlemen, how are you yes?
Going very very well?
Indeed, now the bromance blow up par between is this Donald Trump and Elon Musk?
Is that what you're talking about?
It is? Indeed, I mean, last night was probably one of the most fascinating political slash market movements I've seen in a long long time. So the blow up between Elon Musk and the President started the night before, but the escalation now is incredible. So Tesla has lost fourteen percent off the back of what's happened in the last sort of twelve hours. First and foremost, the President took away the subsidies for EV vehicles over in the US that was already what set him off, and then accused Elon Musk of being crazy that he didn't achieve what he needed to do. And then Elon Musk has gone back with basically accusing the President of a bastardizing the economy with this new tax bill, but also has said some pretty extraordinary lines that I'm not going to repeat because I don't think I should, but has accused the President of needing to be impeached. And so it's going to get worse and worse the big take from me. Musk is also threatening to take away NASA's access to SpaceX. That would cost billions and billions of dollars to the US government because NASA at the moment can't afford to send its astronauts up to the International Space sit or it's using SpaceX and is now also threatening starlink to be cut to certain parts of the government as well.
Right, Who could break her at peace deal here?
I don't think it's going to happen anytime soon. I would argue that the broker of the deal would probably be somebody like probably Scott Basnett, who's the Treasury Secretary. He's the only one I think that could actually broker a deal between the two of them. But I mean the viciousness of what's been said in last one, it's pretty horrid.
Yeah, moving on to local affairs, the Commonwealth Bank or the CBO is worth three hundred and three billion dollars. Have I got that figure right?
Yep?
You have three billion.
First Australian company to cross the three billion dollar mark in market capitalization, made a record all time high yesterday, eased off at the end, but yes, it's three point three two billion dollars in valuation. Three more, okay, three hundred and three point two billion dollars, that was my fault.
Three billion dollars. They're worth three hundred and three billions of a solid bank. That's more than a solid bank. That's an incredibly healthy bank. The question that everyone's asking are they worth that? I mean, they are worth more than JP Morgan Chase over in the US. They're worth more than Lloyd's Bank over in the UK combined. So that needs to be put into the consideration about just how big CBA is on market capitalization. It's the ninth largest bank.
On the right.
Wow, that's amazing, Yeah it is.
It's it's very, very, very expensive though, I need to point that out. At one hundred and eighty three dollars ten a.
Share, Yeah, GOI I remember there were a lot cheaper than that. Now the market this week will finish on a.
High, not anymore. The Bromance has blown right up. So we are pointing down about forty points and as I said, Tesla down fourteen points, draz the Nasdaq with it. So we are pointing down now.
All right, economic future, if you have a great weekend. Thanks for input this week. We'll talk again on Monday.
Cheers guys.
Actually it's a public holiday. The market's shut on Monday, isn't it. We talk about lots of other things, all right, Thanks ev Good on you, Evan. Lucas there