To become unsafe. It is tuesday, july 23rd. Fbn a. M. Starts right now. Good day, sunshine. Good day, sunshine. Good day, sunshine. I need to laugh and when the sun is out. Ive got lauren welcome to the fbn a. M. Good morning. Im lauren simonetti. Cheryl im chery cheryl cason. Lauren do yo dow futures area quarter percent, nasdaq gaining 21. Cheryl as we move closer to the feds decision on the Interest Rates next week, were keeping an eye on the 10 year treasury. Theres a gain of a basis point. Lauren more than a quarter of the s p a 500 report this week. Well hear from united technologies, cocacola, Harley Davidson and hasbro this morning. Cheryl as the u. S. And its allies try to figure out a plan to deal with an aggressive iran, we are seeing a gain for oil. A slight gain on wti, brent is slightly lower. Lauren asian stocks closing in the green across the board. Cheryl and moving over to europe, all eyes on 10 downing street, two hours from now well find out who is going to replace
And out industrials, which youll be getting more for months. Since then, weve seen honey well, United Technologies reports, along with a usually disappointing preannouncement. Yet after an initial dip, they all went higher. Only ppg proved to be better than expected and that just kept them from flying. Today, though, we got excellent numbers from boeing and General Motors and that reinforced the group that this group is too important to ignore. My job is to explain whats happening in the stock market. Because of worries about World Economic weakness, worries to keep Interest Rates lows, Portfolio Managers underweighted this group dramatically or sold far more than what they should have against what had been the benchmark in the s p. They owned 8 . This underweight situation coupled with the fact that many Money Managers are just now warm ug up to the notion that theyre improving, the Chinese Consumer is start to go buy goods again. All these sign ves made the Portfolio Managers frantic
Thmarket hated themm so mumu that the they became incredibly oversold. Meaning they kept going down and down and down to the point where it seemed to be sunk. Then out of nowhere, a couple of things h hpened and the big Portfolio Managers, something changed their view from bear stocks to bullish in the blink of an eye. For starters, General Electric had a onetwo punch. Got the endndsement ofelson pells and the only one of his kind who, if you consistently followed him, you beat the market even if you bought the position after it was announced and aftete it spiked and he got involved buying a ton of stock. True to form gd stock has been roaring ever since. Last friday, ge stellar quarter, no fly. Thatas theignal that thehes w an appetite for these down and out industrials, which youll be getting more for months. Since then, weve seen honey reports, along with a usually disappointinin preannouncement. Yet after an initial dip, they all went higher. Only ppg proved to be better than expec
But only for a few days before the market loses interest and moves on to some in you theme. Consider stocks like United Technologies, honey well and boeing and ppg been they were loathed. The market hated them so much that the they became incredibly oversold. Meaning they kept going down and down and down to the point where it seemed to be sunk. Then out of nowhere, a couple of things happened and the big Portfolio Managers, something changed their view from bear stocks to bullish in the blink of an eye. For starters, General Electric had a onetwo punch. Got the endorsement of nelson pells and the only one of his kind who, if you consistently followed him, you beat the market even if you bought the position after it was announced and after it spiked and he got involved buying a ton of stock. True to form gd stock has been roaring ever since. Last friday, ge stellar quarter, that was the signal that theres now an appetite for these down and out industrials, which youll be getting more f
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