Buy the cyclical stocks. On a day the market got hammered, nasdaq declining just. 06 lets remember what actually took us to these record levels in the first place because those stocks are still the best in jump you know what i am talking about. Talking about a termite coin i am talking about faang yeah, faang, facebook, apple, netflix and google these stocks gone out of style on the wall street fashion show. Smart money keeps telling me to get out of these small stocks and into the russell 2,000 they want you to forget faang and big on everything better with the vaccine there is some stocks that become a lot less attractive when the world goes back to normal. Oh, but not faang. These companies are living and breathing organisms. They are so powerful theyre not connecting to the economic win theyre in charge of their domestici desti destiny. They dont care whos in the white house. It put a target back while zuckerberg fights the government, it would be better if he didnt have to so they
Biden hop bidenharris ticket. Are also speaking with the General Mills ceo. We will be delving into all those angles in the next hour. We start on the market with sarah malic, cio of global equities. She oversees 1 trillion in assets. The backdrop, are we seeing real inflation and rotation in Asset Classes . We dont think it is a permanent rotation in Asset Classes, because cyclicals are so cheap. Markets have been very optimistic over hopes of a vaccine and earnings that stimulus is being pushed out a little bit, and that is becoming concerning and as we look at the rest of the year, between high valuation, issues over trade costs and concerns over the election, we are more focused on quality in the u. S. , but what we do like is expectations for a weaker dollar. We are looking at international markets. They have a bigger they have a better handle on the covid crisis. What do you think about the outlook for inflation . It is still relatively muted. Areou think markets underpricing or
Were going to talk more about the tech sector. Is this a market moving event . We will get a take on whether the market should be paying attention to this. The banks are having a big day in europe. It is been a tough day. Barclays traders had a blockbuster Second Quarter. The lender is anticipating that the crisis gets worse. The ceo had this to say. Clearly there has been an extraordinary Economic Contraction globally. Particularly in the United States and in the u. K. A sizable reserve. The vast majority of that are derived by our risk models where we put economic forecasts into the models. Future unemployment rates, gdp rates etc. Those models produced impairment numbers. We think we have been conservative to build proper reserves. Economye how the particularly in the u. K. And u. S. Unfold in the next couple of quarters. We like the comfort of having strong impairment numbers. At the same time maintaining profitability for the bank. Youram looking at Investment Banking business. Fi
Earlier today before turning negative were just off the lows of the day. Rates are in focus the tenyear is pushing past two six. Pete, whats happening we erase a 280point gain the other day. Then we go up more than 300. Then today we find ourselves falling as we speak. A little slipping welcome to the new world of the market welcome to the new world, and you talk about 1,500 points, thats why were seeing the volatility rise the way were seeing it. This is significant. These moves are huge they have volume behind them i was talking about the volumes the other day in the options world. 24 million, 37 million contracts over the last three sessions so volatility is here, scott i wouldnt be surprised if we start to see a new range for volatility everybody has been expecting it. But we get these kind of moves, and we still have plenty of different political reasons for the stock market to move, along with where i know, steve, in a note earlier today, was talking about what hes seen in the te
Vonnie the bloomberg Commodity Index is lower than it was during the hanging meltdown. New york oil is hovering around the 50 per barrel mark which is the lowest its been since april with speculation the Global Oil Glut is not going away. The greek exit from the euro may be back on the table next year. Almost 0. 75 percent of the euro says they will be out of the euro in 2016. The bailout package should be too small. A newspaper and i will his race for the residential nomination. The Des Moines Register calls him names. He commented on immigrants and make comments about john mccain. He has surged into the lead for the republican nomination. A new poll shows he is the favorite of 24 of republicans and those leaning that way. Nike has given Ceo Mark Parker a stock or that is 10 times higher than what usually gets. He has restricted stock with a target of 30 million but he gets it if he stays with nike another five years. The cofounder has endorsed parker to succeed him as chairman next y