Chunk of its most recent losses, thanksn part to todays nearly 400point gain on the dow. Concerns over Rising Interest Rates he taken a backseat, as investors refocus on Global Growth and corporate profits. Today the Dow Jones Industrial average advanced 399 points to l 25,7 by financial and technology shares. The nasdaq added 84 and the s p 500 was up 32. Bob pisani has more on the days rally on wall street. H the dow up over 200 points at the opening, closing up almost 400 points. Last week, stocks started strong atery day, but faded late in the day. Egan to reverse on friday, when stocks closed at their ed today. It conti this week was all about fed chairmans jay powells testimony o congressue onay and thursday, but the markets are telegraphing theyre not concerned hell be skroefrly aggressive about raising rates. The markets are very different in the lastrewo weeks com to the first two weeks, when stocks dropped about 10 in earlyebruary on concerns about higher Interest Rates, part
Seaberg, great to have you with us. Eric, riddle me this. What has changed and why today do we feel so great of a fed rate hike . I have no idea. I think, you know, were going to be in a cheap market here for the foreseeable future just because of all the uncertainty surrounding Interest Rates, Consumer Spending and Political Uncertainty here and in europe and while this frustrating sideways market may be difficult to navigate were still finding opportunities in the hodges small cap fund. Where . Were really looking at some areas such as some of the nonenergy companies that have been beat down over the last six months by oil prices, Something Like a Legacy Texas Bank share which is a bank that we think is very attractively valued here. The perception of Energy Exposure is not as great or the reality isnt as great as the perception in this stock and we think its created an opportunity for investors. Other areas that we like are areas tied to infrastructure spending, like Eagle Materials
Carlove. Can the economy afford a tax hike . Absolutely not. Hillary clinton talks about being the champion of the middle class, but the fact is, that she wants a trillion dollars in tax increases, many of them may not be paid directly by the middle class but will be paid by the middle class through a lack of job increases. Politically, this is why republicans have been beating their head against the wall for two weeks now because donald trump, according to polling this week, every indication was that hillary was ahead of him, except for in the area of the economy. He said hes had plans, coming out with a plan on monday, has to get refocused on the economic agenda. Gary smith, this plan looks exactly like what weve gotten over the last 7 1 2 years. It is tax hikes, a lot more spending and thats delivered Economic Growth that is the worst since at least 1949. Exactly, dagen. Look, i think voters need to ask themselves if they really think the last eight years were good for themselves an
Carlove. Can the economy afford a tax hike . Absolutely not. Hillary clinton talks about being the champion of the middle class, but the fact is, that she wants a trillion dollars in tax increases, many of them may not be paid directly by the middle class but will be paid by the middle class through a lack of job increases. Politically, this is why republicans have been beating their head against the wall for two weeks now because donald trump, according to polling this week, every indication was that hillary was ahead of him, except for in the area of the economy. He said hes had plans, coming out with a plan on monday, has to get refocused on the economic agenda. Gary smith, this plan looks exactly like what weve gotten over the last 7 1 2 years. It is tax hikes, a lot more spending and thats delivered Economic Growth that is the worst since at least 1949. Exactly, dagen. Look, i think voters need to ask themselves if they really think the last eight years were good for themselves an
Quietly. Pfizer and ge firing back in opeds, defending their companies and criticizing campaign language. Jpmorgan chase jamie diamond also out with big concerns about where america is headed right now. Will that fall on deaf ears or impact real change on the way these companies and others are viewed . Here now billionaire investor will ross joining us. Youre an investor in companies, right . You got your own business. Youre not a public company, what do you make of the campaign trail attacks on business and individual corporations specifically . Well, i think there is a terrible populous sentiment that is brewing and it is manifesting itself being antibusiness. But think about it. If you like employment, how can you hate employers. If you like tax revenues, how can you make life more difficult for the major taxpayers. So there is an illogic to the populism. And i think what is happening is middle class america and slightly below middle class have been left behind for a decade. Theyre