Our Investment Committee here today. Pete, give me an idea of how the market has moved lately. 23 of the s p 500 at or within three percent of new 52week highs. Seven of 11 s p sectors within three percent of their high. We have made moves as we continue to kick around the question of whether we will have the breakout. And the negativity was pretty high. Going back to the time when we heard from the banks and then the technologies and semis, when you look at 70 that has reported, that says something about how negative everybody was and the surprise that this is. We were trading in ranges probably 17 to 19, somewhere in that range. Ever since the earnings have gotten better and people are getting more comfortable the deeper we get into this thing, look at where the volatility is. Its an amazing move that weve seen there. And we continue to see extremely. We talk about the at the end of the show, massive buying yesterday of all the different entities, the fxi, the qqqs. 250,000 yesterday
The dow has been up seven sessions in a row. S p is up six out of the last seven sessions you are talking the highest closes since late july overnight in asia, the sang high deposit was closed for a public holiday. The hang seng up almost 1 in europe, it looks like now most of those markets are in the green, one exception is the ftse down by about. 1 . If you check out treasury yields in the united states, another big story is what happens to the yields some of that movement started after treasury secretary told us that Treasury Department is looking seriously at the idea of a 50year bond for some time next year. Right now, the 30 year is yielding 2. 28 i saw him later in washington and he started talking about 100year bond for the next consideration. Did you prepare for seeing him by watching the interview we conducted . I did thats why i decided to take the 50 and up theante and ask him about 100. To beat the record, he would have to serve 13 years see, i knew it were you talking abo
Flat that really does obscure a lot of drama up at least 2 s that has been pretty dramatic. Also why the nasdaq has been down so a lot of those profits are coming out of there. The hang seng up by 1 3 4 mentioning those tariffs that china will be taking off those goods. We have more on that front in a moment also an American Chamber of commercesaut u. S. Chamber services have been getting hurt and many of them are moving away more quickly than anticipated redirecting businesses there in the meantime, lets look at what has been happening. For the most part, green arrows. The ftse is up the dax up about. 75 . And cac is up. The trezy market and yields, they have firmed up. The 30year trading almost 2. 2 . 10year at 1. 714 . Twoyear note at 1. 67 breaking deal news, Hong Kong Exchange proposing a 36. 6 billion cash and stock offer for the London Stock Exchange saying it approached the lse with a bid last year, they agreed to buy refinative in a deal peloton says it plans to price shares b
Right now. Welcome, good to have you with us on this thursday, our Investment Committee at the table, jorich sapper steen is here, high tower treasury partners, the cio, one of barons top 100 Financial Advisers s to ks higher once again led by tech, which has been on quite a tear this week the nasdaqs best week in ten. Powered by the semis, some of the fanangs is this something to build on or a oneweek phenomenon. It all comes back to trade, trade even trumps pardon the pun, trumps the inverted yield curve. Look, we got some positive news. I was talking to some people yesterday thinking that, look, trump really does want to go ahead with the september 1 increase of tariffs. Chine chinese probably dont want to go ahead i thought there was a 60 40 chance that he wouldnt. I think the chinese are sort of giving him cover in their comments this morning. You think the markets trying to sniff that out a little bit i think the markets assumed its going to happen, actually, and thats why the in
Both sides claiming progress joining us for the entire hour, Karen Finerman, ceo of metropolitan capital welcome. Thanks for having me. This looks like a strong way to end what has been a strong week for stocks. What stood out to you in the rally . To me its the volatility that stands out to me. Volatility both up and down. Im always long bias, no matter what, which is a blessing and a curse. To me this is a scary time i think im a little more in cash than i would be and desk y definitely more protected. I want to be more hedged. So youve been buying puts . Yes over the last week i think the volatility i think it doesnt fully reflect the volatility that is out there, the tweet that could come at any moment. Why do you say its a scary time to me trade is really the issue here, not the fed. I think what keeps cfos up at night is not are we going to get 25, are we going to get 50 its what does our supply chain need to look like, how much can we pass on, how much do we need to absorb. Thos