Saying it was on hopes for a rate cut on friday we talked a lot on friday about just whether and i made a joke that the market shows pricing the quickest sell off. Maybe the one individual that said, i got it and felt sicker it just seemed to subside a bit. Thats right. Human bee haflor is weird. Going into a twoday weekend except the good ones where you could have gotten 1,000 new cases. Up another 1,300 showing a bit of change. I love this graphic friday doesnt really sum it up it came back that was the end of the month. Some of that extra pressure was in the systematictype trading and there is an upside air pocket i think that the fed statement on friday sent the message we are here and probably dont have a very high threshold. It wasnt needed same as december of 2018 it was words that did the job for months until we got a rate cut. The bond market was very interesting. Instead of the bond market leading the stock. Take a look at treasuries. The 10year yield hit an alltime low yeste
Welcome, good to have you with us on this new years eve tuesday. Our Investment Committee here today, joe, josh, jim and amy is back the chief Investment Officer of Chevy Chase Trust and one of barrons top 50 registered Investment Advisers for 2019 we begin with the markets. Stocks are trying to end a great year with another day in the green. Bouncing from the worst day in four weeks we do have big news today from one of our very own, hes making a move on a stock that hes been a big believer in for a big part of this decade. Josh brown, selling twitter. Im out feels good. First time out since the ipo in 2013. Tell us the reasoning. First of all, happy new year and thank you for ending your no, im telling the viewers, happy new year by the way, this is completely filled with gray goose, so take everything i have to say with a grain of salt. I got out of twitter today with a very small profit. I had been adding in the 20s, i owned some as high as 40 around the ipo. It has not worked out.
We have a huge lineup this morning. Steven mnuchin will join us. That is at 7 45 a. M. Eastern at 8 00, well get reaction from political strategist hes been out all over the place what is there to talk about . A few things what did we say . President trump is ripping apple . Ive said all along, apple has to get on board. Switching sides no. Im not. It is not apples responsibility to keep us safe the issue is how much theyve been cooperating it does sound like the company has been pretty responsive they dont want to create an encryption key to allow any government to get any phone. They should cooperate in cases like this. I hope they are cooperating behind the scenes. I do want to see them cooperate on some of these but i can under the broader issue. The journals point is that in the meantime, apple shouldnt be seen as a public enemy no. So barr wants cooperation. Right but not just on this issue. He wants to create a larger issue. He wants to establish and create law for life that wou
Strategy right now, less is more i dont think you want to be aggressively making adjustments to your portfolio. Myself, personally, i look at my Energy Exposure and look that i have a high correlation to the price of Oil Moving Higher i also have one oak. I suggested in the last couple days exposure to refiners. If the price of oil is going to move higher, im wrong in that suggestion what i have done is i have added sun corps. Why did i do that . Because if there is a need to tap production outside the middle east or United States, we look up north. The canadians have that. A canadian oil play. The chinese can access that, as well i think thats the right strategy i sold out of capital one. Why . I dont like where were sitting right now in terms of yield and the ism manufacturing, that was not a good number. So, too much exposure to financials gave up capital one. Took that cash and put it into suncor but less is more. Lets focus the impact of what we had overnight in the middle east. J
Ready to go. Halftime report starts now. Welcome good to have you with us on this monday our Investment Committee is here with us. Chief Investment Officer at boston private wealth. Begin with stocks battling back heightened tensions in the middle east continue to drive trading. Watching gold, oil hit highest level. Weis, happy new year, havent heard from you in a few weeks. The question we have today, are the risks becoming too big to overcome this rally . I dont think so. I dont regard happening in iran as geopolitical risk a factor. Weve seen it so many times before markets have gone through it if oil has a sustained rally and moves higher, that will impact the economic picture particularly in europe i dont see that happening either were the large zest producer. We can measure demand to meet prices to me a bigger risk that just came out is bolton testifying in congress in the impeachment hearing. Youre reading news its literally just crossing the tape we might as well tell everybody