Kaplanter kaplan dr. Joining us on the fed, the economics, and how it folds into policy. Joins us, james acey from aberdeen standard. We love having him on for a more holistic view of what is going on. How alone is technology here in its ascent . James i think it looks incredibly alone. If you look at the u. S. Equity market without scratching beneath the surface, the messages that youve had an amazing recovery. The equity market is not just priced return to normality, but it has gone beyond. When you scratch a little beneath that surface. They really are the only things pushing higher, almost regardless of incoming data, regardless of the economic environment we face. That trend is global as well. Youou take the msci world, get a very different picture. If you take tech out of u. S. Equities, you get a very different picture again. It does seem that the market is saying that virus were no virus, whatever the world we are about to face, it is not a bad thing for tech. Quite the opposit
Michael mckee is here to help us break it down. Michael good news for those who hope the economy is recovering quickly. Atufacturing pmi comes in 54. 2, and the ism forecast of 53. 6. Take a look at the manufacturing new orders index, up to 61. 5 from 56. 4. At 62. 1,ction number from 57. 3. So a big increase in new orders and production that hopefully will keep the economy going. We heard Robert Kaplan this morning saying he thought things had turned around and slowed down. Manufacturers at least through part of july sam some good news part of july seeing some good news. The one thing we dont have is payroll friday, the ism employment number still comes in pretty weak. From 42. 1. If you incorporate that into your models, it might weaken a little bit what people are expecting for friday. Alix i am glad you said that because in europe, part of the conversation after the positive pmi was the employment and jobs picture doesnt look so good, but we are not quite there yet. I am wondering
Natural gas. A good have to do with some of the hot weather we have in the u. S. One Economic Data point that is important the ism manufacturing number came in this morning at 10 00 a. M. It shows us the manufacturing part of the economy is expanding. It is not just strong earnings reports from last week but we have a positive piece of data. It will be interesting to see what the payrolls report rings on friday. David brings on friday. Are they . Confident what does that tell us . The vx end, i am so glad you are bringing it up. Indexes,he volatility both are higher, telling you some folks are thinking volatility could spike. The vix curve points to a big spike of volatility before the election. Levelsic index is at seen last december and the summer of the 2018 ahead of those big selloffs. There are reasons to think that some storing clouds could be ahead. The dollar is climbing for the there are reasons to think that some storm clouds could be ahead. The dollar is climbing for the sec
Workhorse, variant medical. Nikola was up. Update. , we will get an a lot going on today. The x fl. Uying taylor i wanted to talk about what was moving higher. Romaine tiktok . Did we use to own tiktok . Caroline different tictoc. Ralor carolines downloads buy signal. I want to get more thoughts hear from kristin bitterly. Curious how you are thinking about volatility. I have heard some different comments today. That we will get out and then maybe get back in the market on a relief rally after the election. Others are saying they are going to stick through it. How are you thinking about volatility, particularly around some of the election risks. Thesejust goes back to anchoring biases that we have. The 20s. In we think of the average historical norm, it is probably between like 1518. Over the past couple of years, obviously, we have seen historic low levels. Then historic alltime in the 1980s. In the 80s. Tohink the opportunity is hedge your shortterm risk. We want people to remain inv
Even about it. I have seen that today just a little while ago and i said what is this all abo it is just a continuation of the witchhunt. It didnt work out for congress, didnt work out for mueller. It did not work out for anybody so they are sending them out around of the country. It is a typical terrible thing they are doing. The witchhunt has gone on long enough. You mentioned Vaccine Developments. Can you ensure the American People that Politics Around the election will not interfere play a role in determining the vaccine will be distributed . Pres. Trump it wont have anything to do. We want to make people better. We want to send them to the areas that most need it. I think we will have something very soon. You said today in a tweet that dr. Birx from Speaker Pelosi for what did you mean by that . Describing the case of the pandemic right now. Pres. Trump i think we are doing very well. As well ashave done any nation if you really look, if you take a look its what going on especiall