Confronting congress and the nation. The purpose of the program is not to provide or advocate for any particular political positi position. It is nonpartisan. It is intended to inform policymakers and the public about the sorts of issues they are dealing with. I want to first give a few thanks first to the Melon Foundation for providing the funding that makes these briefings possible. I also want to thank our assistant jeffrey who is outside this room for helping to make the arrangements. I want to thank the office of Jerry Connolly which booked the room. And i want to remind or explain why there were index cards on your seats and why i passed other index cards around. What we will do after the presentations by the speakers we will get questions, answer questions, but we would like you to write those questions on the index cards rather than ask them in front of the audience. Keep your index cards ready and jot down questions when they come to mind. And so now i will turn this over to m
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Of the retail trader, the little guy, could be causing more volatility in the market and talk about getting real. One top angel says the beaten down resale retailer, the real real, could be about to make a comeback. Hell be here to explain why hes so bullish. Power lunch starts right now stocks are selling off. Right now, the dow down b about 300 points nasdaq down nearly 2 . Major indices on track for their worst week in february take a look at gold. Lots of eyeballs on this one today. The precious metal is on a wild ride up 8 already this year and near ly 2 today. 16. 49. The defensive tone is evident in todays market. Those momentum names that trade is is unwind names like b facebook and amazon down around 2 the Semiconductor Stocks are also getting hurt today. New lows for a basket of Energy Stocks including exxon, marathon oil and noble energy a political unrest in libya easing there afore oil is given back some gains, plus energy estimates for the First Quarter continue to fall w
Going to me on the phone is chuck grom, Gordon Haskett retail analyst. Joining me in new york is Lauren Goodwin, new york life multiasset per folio strategist, and Brooke Sutherland of bloomberg opinion. Give us a rundown of where walmart fell short. Brooke it was not great all the way around. The fourthquarter came in weaker than expected, and they called out unexpected softness in the weeks leading up to christmas, which is not what you want to hear from a major retailer. That is in line with what weve heard from a number of Different Companies that are not named amazon, which raises a lot of interesting questions about what the Competitive Landscape actually looks like. Also weighing on investors is the 2021 fiscal outlook, which was also weaker than expected on sales and profits. Alix the stock rating is heavy here in premarket. The bad news baked in. Is that is why is that why you have a buy rating here . Chuck weve had a buy rating for a while, not just here on the fourthquarter.
Really hasnt changed from 2019. It is about technology, Communication Services the difficult decisions im trying to make when looking at my portfolio is how do i get alphabet into the port toportfo. Do i take out apple no. Which large name do i take out. Facebook is pushing right now towards its july 2018 alltime high id like to try and get involved in that in some capacity only thing potentially i could do is in the options market. So you are fully invested, you are watching it and understanding it is a technology story, Communication Services. That was the story of 19 and the story of 20 and all the talk about rotations and value, it is mega cap, big tech, it is faang and helping this run sure is we knew the consumer electronic show would provide a boost insights in to 5g and how important that will be that is clearly one of the big drivers for even from amd to apple to marvel. All of these stocks that are basically apple is not at ces, so being clear on that, but they are a benefici