That the banksle were the focus point. They seem to miss in terms of overall trade. In terms of miss overall trade. The laststeven, over couple of days, it has been middling, hovering your record highs. When you look over the next few months, do you think we still have sort of enough of a catalyst year to kind of keep this momentum going, pushing equities higher, and how do you think that fits in with, i guess, regards to the earning picture earnings picture that we have . Is no i think that worry. A good deal of this has been momentum. Overall, we are not bearish. We think we have a record high level of eps in the United States this year, and, probably, we can go on to another one in 2020. The problem is it cannot be everything that everyone wants, which is a rapid gain in eps with ever rising asset prices, getting it altogether. Inflation low, profits high, markets high. Broadly speaking again, i do not think we have come to a point where we are just wildly irrational on equities pri
With aerial investments. Good morning to you both charles, ill start with you tech stocks have had a very strong start to the year can that continue . Well, full disclosure, ive been skeptical of these stocks for a long time and ive been wrong. And i think there are a couple of reasons that i cam concerned the first is theyve been drive higher the s p is dominated by these large companies. As more money goes into the s p and index funds, these funds buy these stocks for no fundamental reason i do worry if theres a reversal in those flows, these stocks will be hit hard the second thing i worry about is regulation. Theres almost nothing that republicans and democrats agree on the one thing they do agree on is that Big Tech Companies have too much power i think theres a real risk of regulatory pressure. Were going to dig into that a little bit more, im sure. Walter, if you look at whats been the best performer in the dow so far to start this week, its been apple. How much of that is relat
Vice president of the americas Vice President at cisco. [applause] i was wondering if you would applaud so thank you for that. Good afternoon. Our purpose is to power and inclusive future for all. A Technology Based Solutions Drive the ability to address critical challenges and communities, power hybrid work, transform infrastructure and cities you to secure the networks that run it all to ensure they can be deployed it takes forward thinking policies that foster innovation and emerging digital technologies. No matter how remote with the networks that bind to the the se channels of communications openness and competition or a world where ai propels us forward and does so responsibly they emerge as foundational pillars shaping our society, economy and governance. To fulfill the potential of this moment right to size investments in government policy and Research Innovation security and procurement should lead the way. At the heart of this critical discourse is the federal Communications
Joseph. Were happy to have you here. Always. People have things. Its summer. If they asked me next week, i would say no, im on vacation. Even to spend time with you, i would turn that down. You know what, i take everything you say seriously, because it just makes me, right, i believe you. Yeah. Theres no reason to not believe me. Its not necessarily sarcasm. Not necessarily. Lets take a check on u. S. Equity futures. Joe mentioned towards the end of the session, we came off in the middle with the higher beyond yields, take a look at how were set to open. Look looking to lose 8 at the open, the dow looking to lose 49. After a day of declines. The dow fell 291 points on track for the worst week since march. The dow, s p and nasdaq are down more than 2 of the week. For the dow, its the first time it closed below its 50day moving average since june. Check out the pullback in technology. We have been talking about this for some time. The declines are stark. Apple, meta, microsoft, each more
Vice president of the americas Vice President at cisco. [applause] i was wondering if you would applaud so thank you for that. Good afternoon. Our purpose is to power and inclusive future for all. A Technology Based Solutions Drive the ability to address critical challenges and communities, power hybrid work, transform infrastructure and cities you to secure the networks that run it all to ensure they can be deployed it takes forward thinking policies that foster innovation and emerging digital technologies. No matter how remote with the networks that bind to the the se channels of communications openness and competition or a world where ai propels us forward and does so responsibly they emerge as foundational pillars shaping our society, economy and governance. To fulfill the potential of this moment right to size investments in government policy and Research Innovation security and procurement should lead the way. At the heart of this critical discourse is the federal Communications