Investors, whether u. S. Stocks are really still the place to be and lets waek in jeremy with us once again live from philadelphia. Professor, welcome back. Good afternoon, scott. Professor schiller at the beginning of the week saying stocks could go up another 50 from here. What do you say . I said are you bullish . It could go up 50 . It could go down 50 . The word could does not really mean that thats what he expects. But you know, the momentum is there. The earnings momentum is is there. I think actually its very, the dollar being down is very positive. Especially for the s p 500. Thats why you see the strength in those stocks. Yields, two and a quarter for the ten year. Can you do any better than that . No competition. And we talk about overheating, we talk b about the tech sector. The, i just looked up the pe ratio of the tech sector. On estimated 2017 earnings. Of the s p 500. Its still under 20. 19. 3. We have amazon, netflix, we have a few of those that are really you know, in
Riding a bicycle. If you told me two weeks ago that apple was going to rally 7 , crude woul see losses of 13 and biotech stocks would rally 13 , id say youre crazy. What is going on here, tim . Lets talk about apple quickly. I dont think anything changed with their business, a although we got an earnings print, if you lins to the community, one of the things theyre saying is they can they think trade at a higher multiple. Anywhere from 13 to 14 depending on what the e prk s outlook is. Because the growth is better. Were getting into a period where you have this refresh cycle and inn some of the risks around the business are out of the way. I think thats what the market has gone through. And i think the decorlation of oil to the s p is something were quoing to talk about here, be we have a place where really nothing haze changed. Were still many this melt up mode and then the absence of the fed and any major macro event, thats whats happened to this market. Nothing is changing yet. Seem
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