The Practical Islamic Finance Podcast · Rakaan Kayali

Inflation is Higher, But Who Cares?

·24 min

He opens by saying the inflation numbers came in a bit hotter than he expected. The market reacts, but it does not spiral. The Russell falls close to 2%, the Dow slips about 1%, the S&P gives back roughly half a point, and the Nasdaq stays slightly green. From there he moves through the names he watches, including Tesla, Bitdeer, CleanSpark, Enphase, and CoreWeave, then checks gold, silver, Bitcoin, Solana, Doge, and Pudgy Penguins. Bitcoin sits around 117,000, and he says the move could come from the failed crypto bills, the hotter inflation print, or just the fact that the market has already climbed more than 20% in a short span. He keeps coming back to the idea that a pullback is normal after a strong run, and says he still expects the rebound to be fairly quick if this is only a reset. Inflation for June lands at 2.7% year over year. He then turns to Solana and notes that Solana's official account is posting about Pudgy Penguins, which he treats as a useful signal for people already in that corner of the market. He also points out that Pudgy Penguins has nearly tripled over the last month. Then he shifts into questions. A listener asks about NIO after its long collapse from the $50 area. He says he called the downside when it was still trading high and argues that the company no longer passes the smell test, focusing on balance sheet strength and the drop in cash and short-term investments from the annual figure to the quarterly figure. Lucid enters the same frame as another company where the numbers matter more than the story. The discussion stays on valuation, burn rate, and whether there is still enough cushion to justify attention. Near the end he broadens out to politics and policy. He contrasts Donald Trump's black-and-white way of seeing things with Jerome Powell's more nuanced style. He does not say he agrees with Powell, but he does say Powell can still make a respectable case for what he is doing. The episode closes with thanks, a push for likes and membership, and the usual direct signoff.

As heard by us

A brisk inflation-day market check that stays grounded when the tape gets noisy.

The episode opens on hotter-than-expected inflation and keeps its footing with a numbers-first look at how the market responds. It moves from indices to individual names, then into crypto and listener questions, so the pace stays immediate and tied to the day's trading.

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Why you'd press play

You want a quick read on higher-than-expected inflation and the market pullback it sparked.

Read the full recommendation in PlayNext →

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