Doubt a very tense capitol hill, where Kayla Tausche is standing by ahead of the Health Care Vote. Kayla . Brian, House Republican leadership are rushing back and forth, scurrying about with a lot of prescheduled items on the calendar. But, just a few moments ago, the House Majority leader was shrined by reporters here in the hallway and asked three separate times if he was committed to bringing this Health Care Bill to the floor for a vote, regardless of whether it looked like there was enough support for it to pass. His answer was, why are you guys always so negative . He didnt answer the question straight on. Reporters kept asking and he just accused the press of being negative and only focusing on the negative. Thats important, because this vote is supposed to take place in a number of hours. Nonetheless, republicans are still trying to coalesce the support that is needed to actually have this passed. And one more thing that might be important to the market, is mccarthy was asked w
Are strarting to show signs of cracks. The materials, the financials. Some groups that had run a lot. I still like the financials. I still like the financials. I think the materials, yeah, they are way out in front of themselves. That doesnt mean that that means its the end. Maybe they pause for a while. You can see it happening in the steel stocks, for instance. Today there was also a down grade out there. If you look at the financials, the financials have been absolutely on fire, and ill tell you, the other thing is we talk about and we focus all the time on volatility, right . I talk about volatility. Here we are back underneath 13. Were in an extremely low volatility in terms of the measurement of the s p. Look at the ovx. Look at oil volatility. It went from 33 to 55 in a short period of time. One month. That just gives you a little idea how much volatility you have in that energy space right now, and obviously with opec in front of us, thats part of it. Theres been a lot of this
Had a significant change in sentiment. If you just go back to the tape six months ago, there was a really strong concern in the market, bond market, equity market around this growing sense of stagnation. We were skeptical of that. At the same time the clear focus on reflation and risk by many investors, i think the truth is somewhere in between, and thats what we mean by both views are too optimistic today. Yeah. Maybe we underestimated, though, where the economy actually was before the trump election and now we maybe, okay, were feeling pretty optimistic about where we think tax policy can go, a stimulus plan could go, but the fundamentals, though,ing are in some ways justifying a stock market rally, no . Well, i think part of it. I think we went into the u. S. Remains resilient. Pessimists were saying 2 growth at best. We were closer to about into 20173 . I would say the equity market particularly in the u. S. Is pricing closer to 4 . Thats what i think, again, we could get there, bu
We want to begin with bob who covers twitter. Bob, you with me . Its good to have you as always. You follow this as closely as anybody does. What do you make of the speculation around this company . The stock has had a pretty good run from 14 to 19 and change. Is a take out becoming more likely. We dont think theres any take out possibilities in 2016. I think they want to see those things they want to do resonate. Jack has only been there for a year almost and the board is new. I think they fully support jack. I think you have to get through those changes and if youre on current trend which have been getting worse in 2017 you could see a take out on the that point. That meshes with what im hearing today as i talk to people. Im told that jack and the board still think that they can unlock value, that theyre not ready to sell, but at the same time they would be realistic if they got an offer. The last thing they want is to pull a jerry yang and get an offer and turn it down and two years
Be why did you make it . You know, its really four trends that i talk about in the report. I dont hide it. The first one is how well consumers are monotizing. Mobile search has been monotized much better. Numbers are coming up beyond what people were expecting because you get in front of somebody when theyre indicating that theyre in the market, and you serve them more ads, which is the sign of what is happening buzz youre seeing an evidence that search traffic is shifting more towards paid than organic. The problem is that you are no longer a Search Engine as an advertising engine. Thats the first one. Second is youve seen a rise of technology that allows the consumer to control their viewing of advertising. Ad blocking being the most prominent of those, right . Two years ago no one understood what it meant to white list a site or allow advertising to come into their experience. Now they do. Is that habituates the consumer to taking more control. The third one is the threat. This mode