Services and luxury retail. Love them or hate them, etfs are here to stay, and etf nerds get a read on the Broader Market trends. Eric balchunas is very comfortable being known as bloombergs head etf nerd. Eric every week we talk about flows going into etfs. And we talk about flows into active. If you add them together you get a negative number, 150 to 180 billion has flown out of the whole enchilada this year. Thats what this shows, the cumulative flows into u. S. Stock funds have been drifting down, and this year it has been 150 billion. That seems counterintuitive given the market is going up. People are wondering, are investors bailing on the stock market . The answer is no, heres why, lets look at the assets. This is the law of large numbers. 10 trillion are in ets, index funds that mutually invest in stocks. The market is up 25 thats a 2. 5 trillion asset gain. Thats a good year. Heres the outflow. 150 billion is put into scale by looking at this. Essentially investors have sold
It did pass overwhelmingly yesterday 227203. Were expect probably a similar outcome today. Well keep our eye on everything happening in washington, d. C oh, by the way, the president is expected to speak later this afternoon. We may actually hear from him momentarily as well. Our Mission Today is dwight simple, to figure out what all of this means to your money and what may happen in the months ahead. At least one key person weighing in on that question today, council of economics chair gary cohn who said this earlier if you look and what the tax plan is going to do, i dont think thats factored in you can take an interesting basket of hightech stocks and lowtech stocks, and they are not doing what you think they are doing. You would think that the high tax stocks would be outperforming the low tax stocks its not happening, so i think theres a lot more momentum in the stock market. Doc, gary cohn said its not priced in. A lot more momentum. The question i posed yesterday, right, that to
Conversation between Diana Henriques and joe nocera. It is my pleasure to introduce our author tonight. The first some housekeeping we arent independent bookstore celebrating the tenyear anniversary last march and coming up four years in the jersey location. The cspan cameras are here there is a period of question and answer and then to help with the signing. Tonight we are here to discuss a first class catastrophe. October 19, 1987, the 87, the worst day of wall street history. The worst day of 1929. So to shut the foundation of our Financial System we had not heeded those lessons at the same time so tonights authors are uncovering this omission from previous books from the New York Times bestseller and a Pulitzer Prize finalist. And for investigative reporting. And we are honored to know she is in new jersey. In conversation with joe nocera from bloombergs career spans the New York Times. It is about black monday 1987 when the Dow Jones Industrial average dropping 508point enduring t
Schumer calling it, quote, an agreement that is very good for the american people, and a, quote, genuine breakthrough. Mcconnell and schumer coming together, putting together this deal, which by the way, pours money into the military and into domestic programs like opioid addiction and support, but wait till you hear whats not even mentioned. It is possible the markets are back to business as usual after three sessions of intense gyrations, stomach churning falls and dramatic climbs . The s p is calm as a cucumber, nasdaq down 41. We here at the claman countdown, its not over. Today has endured a 500 point pluspoint swing. You cant say all quiet on the western front. There is zero guarantee at the moment. As we thought things are settling down, we start swinging like a pendulum. Whats going on . We point to this. With the dow up 94. Volatility woke up from month long hibernation last friday when Rising Interest Rates sounded the alarm and the dow plummeted 665 friday. Down 1175 monday,
Requirements. With more on this, greg mcbride, chief financial analyst of bankrate. Com. Great to have you here, greg. Lets start with how these accounts would work because the last thing i checked out, walmart is not allowed to be a bank and here they are offering Checking Accounts. Explain. Well, gerri, youre right, they have wanted to get into banking for a long time. They actually pursued a bank charter at one point and kind of gave up the fight on that but what they are in this arrangement, theyre basically retail outthrough which this is offered this is product that belongs to Green Dot Bank which is fdic insured bank. So the money that you have is federally protected but walmart is just going to be the Retail Outlet through which this offered. I think primary appeal being no overdraft. That is a selling point to anybody. Gerri no overdraft fees. Overdrafts are a habit. Gerri go right ahead, sorry. I think anybody that, you know, had a history of overdrafts, you know, which is, a