Joining us from sunny arizona. Your clients havent done too badly this year. Jeff its been a great year, and what a difference a year makes. Vonnie why is that, jeff . Jeff the reason for that is because this year, we had a lot of very supportive factors pushing the market higher. First and foremost, weve got a very strong and resilient consumer, and that is evidenced Online Retail sales. Next, weve got Central Banks. Central banks have been supportive and accommodative here in the u. S. And overseas. Next, weve got earnings. Earnings are looking like they are going to improve not only in the end of this year, but into next year. Finally, and probably most importantly, shortterm, weve had improvement on the trade front. It looks like we have that phase one trade deal ready in the nottoodistant future. Vonnie you say what a difference a year makes. Obviously, a lot could happen in the coming year as well. What are the greatest risks for 2020 . Jeff the greatest risks we see are policy r
Ready to go. Halftime report starts right now. Welcome. Good to have you with us on this monday our Investment Committee at the table today. Lets begin, where else, the markets. All three of the major averages are higher dow would be Even Stronger if not for the boeing drag. But with several major obstacles out of the way, is a melt up now in the cards thats how i look at this, josh. You go down the list and say, all right. You have this trade. Tens tensions are eased for the moment uk elections in the rear view and the fear of maybe missing out and performance chase over two weeks. Yeah. All is good in the market world. This is one of the interesting moments. They dont happen all the time where it almost doesnt matter what you own you could own value and growth and making money in either one theyre still below the old 18 highs but theyre on their way the banks have just broken above the 07 highs. All the mega cap banks look incredible tech is up 48 year to date and now you have europe
Concerns over production of the 737 max jet. And positive news on the housing front, as home builder confidence jumps to its highest level in two decades coming up next hour, former treasury secretary jack lew will join us to discuss trade and the economy. You do not want to miss that and with us for the whole first hour of theshow, dan nathan from risk reversal advisers. Dan, good afternoon. Thanks for joining us. Great to be here. More optimism on trade or whatever you want to put it down to is a lot of this news not already out there . Are you surprised to see ongoing rallies to new highs yet again at the end of the day, you like to see followthroughs. So friday, we had a muted react. A lot of investors expected some kind of surge, similar to what we had at the end of 2017 after the big tax cut. A lot of this was priced in. I think the continuation of last weeks rally into this week is obviously pretty establibullish. Also fairly seasonal as we are looking down the barrel of a week
Month. Corporate earnings and sharp moves from the likes of broadcom, origacle, and adobe. And the u. S. Is weighing new 100 tariffs on new european products, including whiskey and cognac plus, a big interview just minutes from now Morgan Stanley Ceo James Gorman, a live and exclusive interview right here at the exchange joining us for the hour is lindsay bell, chief investment strategist at ally invest. Good to see you today, lindsey were seeing the markets kind of shrug over these trade headlines, why i think the market has really priced in a phase i deal getting done the news in the Early Morning market got excited and that quickly got deflated the market is up 26 yeartodate its trading at an 18 times multiple which is pretty rich by historical standards this is really just the market kind of taking a breather and waiting for earnings and the Economic Data to really get caught up to those earnings multiple we are set for record alltime closes. Anything positive for the s p and nasda
Historic protest against global capitalism. We will speak to two of the leading critics of the wto Vandana Shiva and lori wallach who appeared together on democracy now 20 years ago in seattle. The wto constraints every country government about literally the level of food safety it can provide its public. The secrecy through which the wto was born and the fact that most parliaments had no idea what is the content of this treaty u until months after it d been ratified and signed. Amy plus, we look at the 20th anniversary of the birth of the indymedia move which grew out of the seattle wto protest. To find her own way to get our message out. We hope the information that has been presented you by the alalternative media is one that you will learn. Amy all that and more, coming up. Welcome to democracy now , democracynow. Org, the war and peace report. Im amy goodman. On capitol hill, the House Judiciary Committee will begin impeachment hearings next week into whether President Trump withh