Welcome to squawk alley. Jon fortt with mike kantoly at post 9. Kayla has the morning off. Jop jo jon . Lucky number 13 for the markets. The blue chips marching towards 20,000. In case you were counting, 42 days till donald trump becomes president. Will this trump bump lift all or hiding future risks . Joining us are Brian Jacobson and here at post nine john stoltz, oppenheimer asset managements chief investment strategist. Good friday morning. Good morning, jon. If im not mistaken, john, your projection a year ago for where the s p would be right now is right about where we are. What do you make of this trump rally . Was it going to happen anyway or is it worse off than you had expect smd. Our expectations had been that the s p 500 would cross 2,300 in 2016. But weve certainly gotten help from the election of donald trump. Theres nothing like projections of lower taxes, of reduction of regulation as well as prospects that were going see some significant infrastructure spent to get the
Lets begin with the markets today. The dow marching closer to that 20,000 level as everything from the transports to small caps, nasdaq hitting record highs today. Josh, what, if anything, is still cheap is the question i pose . You have 40 new stocks hitting 52week highs in the s p today. You had 112 yesterday. Is anything cheap enough to buy anymore . Let me start by saying this is a great environment for people who didnt panic during all of the big bad event that is we had this year starting from the things that went on in january and february related to china, continuing through, you know, the brexit drama this summer, italian referendum. The election here. If you stuck to your guns skpurks owned cheap stocks, you are doing very well. Value is outperforming substantially. Small caps that couldnt get love for two years are also doing well. I dont understand why we would say that thats going to stop. The its important to point out the four best sectors in the s p were all negative in
The next morning. News from bolton next morning when we had to go back to school we saw broken glass everywhere in the woods it sounds like thats why we call it started out because it was glittering everywhere its up to. The state must act decisively and consistently against any gratian exclusion anti semitism racism and right wing radicalism. And of course at the end of World War Two we said never again. But look at whats happening again in the world not just in germany but in france holland everyone. Doesnt. Work every day with todays understanding that Something Like eighty years ago will never happen again it. Also on the day Central America is having towards the United States fall victim to mexican criminal gangs as many as thirty thousand have disappeared. Gathered that its very dangerous travelling between mexico city and the us border we need to be well organized and able to look after each other we have to know about each other every individual every child in. Germany has reme
And the state must act decisively and consistently against any gratian exclusion anti semitism racism and right wing radicalism. And of course at the end of World War Two we said never again. Look at whats happening again in the world not just in germany but in france holland everywhere. Doesnt. Work every day with todays understanding that Something Like eighty years ago will never happen again it. Also on the day Central Americans heading towards the United States fall victim to mexican criminal gangs as many as thirty thousand have disappeared. Gathered that its very dangerous travelling between mexico city and the us border we need to be well organized and able to look after each other we have to know about each other every individual every child in. Germany has remembered crystal to honoring the victims of a night of violence against jews that swept the country eighty years ago the name translates as crystal night a reference to the shots of broken glass that litter the streets af
Semitism racism and right wing radicalism. And of course at the end of World War Two we said never again. But look at whats happening again in the world not just in germany but in france holland everyone. Doesnt. Just all work every day with todays understanding that Something Like eighty years ago will never happen again it. Also on the day Central Americans heading towards the United States fall victim to mexican criminal gangs as many as thirty thousand have disappeared. Gathered that its very dangerous traveling between mexico city and the u. S. Border we need to be well organized and able to look after each other we have to know about each other every individual every child in. Germany has remembered crystal to all during the victims of a night of violence against jews that swept the country eighteen years ago the name translates as crystal night a reference to the shots of broken glass that litter the streets after mobs smashed the windows of synagogues and Jewish Stores and buil