And it just got a hunl buy call. Well debate in our call of the day. Halftime report starts right now. All right, welcome. Good to have you on this wednesday. Our Investment Committee, jon and pete, anastasia is the global strategist at jpmorgans private bank rich, one of barrens top 100 Financial Advisers we begin with the late e on the markets. Stocks are higher again hour the dow is barely holding on to a gain as are the major averages the nasdaq did a new record even as the house stands to impeach a sitting president for the third time in the history of this country. Well get to d. C. In a moment, but lets begin with the surge rick, you want to take a stab at the sector that keeps marching higher 70 is a new Record Facebook tops 200. Adobe. Nvidia, lamb research, all hitting new highs. Every investment portfolio has to have tech stocks its a part of the market and its important to have them for a lot of characteristics number one, theyre generating large amounts of Free Cash Flow.
Anna good morning. This is bloomberg daybreak europe. This year is tapering out a little bit. As we get into the penultimate week of trading. The msci index up by 0. 1 . The republicans seem to be ok in the senate. Susan collins, the senator from maine, pushing that one through we think. The houseboats later today. Voteseek the house later today. We have a few things on the agenda. And u. S. Gdp updates. Lets talk about what is happening in South African currency. The u. S. Dollar is gaining a little bit against the african round. The trajectory of travel has been strengthening in the rand. Tribes in the anc vote. Deliver onable to the promises. Will there be risks around that . That is something we will be picking up with our guests in the next hour. In terms of the broader story, you are looking at matt i am looking at that was up 20 . Pix it is up to 826 year high it is up to a 26 year high. Returns wouldnt be so great. Ine you can see the topix blue. In yellow you see how it has re
Stocks giving up early gains ahead of the tax vote. The dow transports did manage in an intraday record high before turning lower. Energy and Consumer Staples the best performing sectors. Real estate utilitys the biggest laggards as we are seeing the biggest rise in the ten dayyearold darden restaurant rallying, beating earnings estimates navistar is soaring to 10 the truck maker comfortably beating profit estimates revenues also beat navistar calling 2017 a breakthrough year of the company. Shares of chicago iron tanking, being bought by Mcdermott International for 6 billion in stock. The two companies provide construction and Engineering Services for the oil and Gas Industries that stock down almost 7 . Thank you very much, melissa. Welcome everybody, im tyler mathis mathisen we begin with breaking news. The house all set to vote on the big tax bill in the next half hour the biggest change to the u. S. Tax code since 1986 or thereabouts. It will affect every business and every househ
Goes on every day among professional Money Managers who are trying to figure out where next to invest their cash. And we saw it play out huge today, dow surges 165 points. S p vaulted up, and nasdaq 1. 45 . So a sure sign that the big boys are liking what they see and willing to pay more for it than just last week. I know that many individual investors like you at home now think their money should be put strictly in the index funds or of etfs and im in very in favor of index funds. Remember, you should put your first 10,000 in an index fund so you can get the benefit of diversification. I prefer the s p 500 index fund. It doesnt have to lower your reward and once you saved enough money of individual stocks i have to say im not a big sector oriented etf man. I say many of the etfs arent being created for the benefit of you, the investor. s its so the issuers can make money off them. Frankly, theyre pickoffs. Products created to take advantage of whats hot, like the restaurant stocks. Cy
Oriented etf man. I say many of the etfs arent being created for the benefit of you, the investor. s its so the issuers can make money off them. Frankly, theyre pickoffs. Products created to take advantage of whats hot, like the restaurant stocks. Cyber security. I have seen tons that are only meant for day trading like the commodity etfs and never lets us confuse regular people by giving a miss leading sense. I think the daytiming etfs should be labeled like cigarettes because prolonged exposure can be hazardous to your health, especially the one and two times of your buying power. I would never bargain hunt with etfs. And instead, like the vast majority of the pros i like to look for misvaluations. Stocks that are trading out of whack, with what we call the fundamentals that you often ask typically, that means stocks are trading either too cheap versus the sector or too cheap compared to the market as a whole or vice versa. But it can also mean stocks that are trading in the discount