Month the markets falling when investor thought a rate hike would come in june, and recently big rallies when sentiment shifted accepting the possible rate hike. Keith banks is the president of u. S. Trust bank america wealth management. Rick szelc the managing director of neuberger berman. Eight years later, is it all about the fed . All about the fed. More about earnings. We view it right now the p e multiples about 17 time, not going to expand much from here. To make a case for higher levels in the market, you have to make a case for stronger earnings. But 17 historically is a high number for s p earnings. Isnt typically 15, 16 the higher valuation. The high end of a range and, in fact, we just actually at u. S. Trust went more neutral on equities in a tactical allocation shift, and the reason we feel that way is with multiples at full levels, number one, and with the summer coming, with possible rate hike fears, u. S. President ial election, you got the u. K. Referendum, a lot of s
Anthony its true, and this month the markets falling when investor thought a rate hike would come in june, and recently big rallies when sentiment shifted accepting the possible rate hike. Keith banks is the president of u. S. Trust bank america wealth management. Rick szelc the managing director of neuberger berman. Eight years later, is it all about the fed . All about the fed. More about earnings. We view it right now the p e multiples about 17 time, not going to expand much from here. To make a case for higher levels in the market, you have to make a case for stronger earnings. But 17 historically is a high number for s p earnings. Isnt typically 15, 16 the higher valuation. The high end of a range and, in fact, we just actually at u. S. Trust went more neutral on equities in a tactical allocation shift, and the reason we feel that way is with multiples at full levels, number one, and with the summer coming, with possible rate hike fears, u. S. President ial election, you got the u
Job growth last month ground to a near halt, surprising just about everyone from wall street to main street to washington. Especially because the labor market had been a pillar of strength for the economy. Just 38,000 jobs were created last month, well below the estimate of 158,000. The Unemployment Rate dropped to 4. 7 , but that was because nearly 500,000 people stopped looking for work. The one bright spot may be the slight, and i do mean slight, increase in average Hourly Earnings. Hampton pearson has more on mays big jobs miss. Reporter the slowest monthly job growth in nearly six years shocked the markets and market watchers. Im still looking for a digit here. Were missing a digit. This is crazy. I thought wed get 165,000. And they still wouldnt do it. They cant hike in june. Imagine if they did and then the economy got worse people would be like, how dumb were you . Reporter the month of may turns out was the tip of a jobs iceberg. Hide be a dramatic slowdown in job growth over
A near halt, surprising just about everyone from wall street to main street to washington. Especially because the labor market had been a pillar of strength for the economy. Just 38,000 jobs were created last month, well below the estimate of 158,000. The Unemployment Rate dropped to 4. 7 , but that was because nearly 500,000 people stopped looking for work. The one bright spot may be the slight, and i do mean slight, increase in average Hourly Earnings. Hampton pearson has more on mays big jobs miss. Reporter the slowest monthly job growth in nearly six years shocked the markets and market watchers. Im still looking for a digit here. Were missing a digit. This is crazy. I thought wed get 165,000. And they still wouldnt do it. They cant hike in june. Imagine if they did and then the economy got worse people would be like, how dumb were you . Reporter the month of may turns out was the tip of a jobs iceberg. Hide be a dramatic slowdown in job growth over the last three months. Employers
A near halt, surprising just about everyone from wall street to main street to washington. Especially because the labor market had been a pillar of strength for the economy. Just 38,000 jobs were created last month, well below the estimate of 158,000. The Unemployment Rate dropped to 4. 7 , but that was because nearly 500,000 people stopped looking for work. The one bright spot may be the slight, and i do mean slight, increase in average Hourly Earnings. Hampton pearson has more on mays big jobs miss. Reporter the slowest monthly job growth in nearly six years shocked the markets and market watchers. Im still looking for a digit here. Were missing a digit. This is crazy. I thought wed get 165,000. And they still wouldnt do it. They cant hike in june. Imagine if they did and then the economy got worse people would be like, how dumb were you . Reporter the month of may turns out was the tip of a jobs iceberg. Hide be a dramatic slowdown in job growth over the last three months. Employers