Lets bring in our guests today, arguing that stocks might not be so close to new highs for very long mike wilson, Morgan Stanley, back with us good to see you. Glad to be back. 10 correction is the most likely outcome why is that . Its a continuation from the call we made in september where we got a 10 correction. We walrallied back all this comes back to our framework. We look at the valuation its pretty full volatility has picked up because of the events they know are out there, whether its the virus, the second wave, or the election the premium we believe is a bit understated from where it should be thats all were saying. Its full here these risks are not going away for the next 30 days theyll be with us so, look, the range we put out in august, 3,100 to 3,550 holds. Were still bullish on the vshaped recovery, the call we made a while ago we think its a new bull market. But its risk reward and the risk reward for the upper end of the rage is not that good. If the facts change, could
For their good morning its searchings day the 7th of july youre watching r. T. International where its just gone 10 oclock here in moscow now with most countries in the world easing back to normality following months of locks and scientists are warning the virus is no longer being treated seriously enough more than 200. 00 researchers and doctors have sent a collective letter to the w. H. O. Saying the risks of airborne transmission are being ignored were concerned that the lack of recognition of the risk of airborne transmission of coded 19 and a lack of clear recommendations on the control measures against the airborne virus will have significant consequences well that warning there does come as people around the globe have been flooding back to shops bars restaurants and beaches Saskia Taylor now her says is the risk of mass contagion. Its restrictions on lockdown was lifted people wasted no time in pounding the pavement no moss gloves just some good old pretend to 20 close crowds a
2 2. Its 8 years since that Ethiopian Airlines jet crashed killing all on board family members gathered for a Memorial Service at the site of the crash a tragedy compounded by war take some relatives described as being way too little compensation. Digital lenders take on the Traditional Banks to cash in on south africas growing popularity online payments. And take me to electronic heaven one does said stop a nationwide recycling system for waste. If you bring their computers facts of life. I made for us all and lets do Business Today marks the 1st anniversary of the crash of Ethiopian Airlines flight 302 a year ago 157 passengers on a boeing 737 max plane bound for nairobi had lost their lives after a Flight Control system proof fatally flawed monday the o. P. s Aircraft Accident Investigation bureau released a report saying that not the airlines or the pilots but the boeing planes software caused the crash leading to a grounding of the boeing 737 max that is still in effect. Still in
Culture. You are not a visitor not a guest you want to become a citizen. In for migrants your platform for reliable information. Its a year since that Ethiopian Airlines jet crashed killing all on board family members gathered for a Memorial Service at the site of the crash a tragedy compounded by what victims relatives describe as being way too little compensation. Digital lenders take on the traditional banks to cash in on south africas growing popularity for online payments and taking to live a trying to heaven the wonder said something a nationwide recycling system for any waste. If you bring the dead computers back to what. I mean 1st of all and lets do Business Today marks the 1st anniversary of the crash of Ethiopian Airlines flight 302 a year ago 157 passengers on a boeing 737 max plane bound for nairobi had lost their lives after a Flight Control system proof fatally flawed monday the o. P. s Aircraft Accident Investigation bureau released a report saying that not the airlines
Energy stocks and financials are leading the overall market, while safe havens outperform well discuss the impact on the coyne vines. Dr. Anthony fauci will join us he is part of President Trumps task force on fighting the virus. Steve weiss is join joinin for the hour. What do you. I think the market should take it in stride. Weve had other Companies Come out and talk about the virus they make chips that go into handsets in china and primarily asia, also tmobile here they had they were lowering their forecast youve had other come out. And ive talked about it on the Halftime Report but we all spoke to micro, but in it continues, invariably it would continue in my view you take opportunities to get further invested if youre underinvested in certain names, because its a one or twoquarter phenomenon. It wont impact what i view as the supercycle in invests particularly in semis. So what the market is pretty much ignoring today are what a lot of people ignoring, the test it is companies, su