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September retail sales, nice beat there, the srt up 102 from march lows, thats a new high, Dick Sporting goods, best buy, dollar general, costcos and lowes, bed, bath and beyond on its best pace ever is it time to buy retail there are still select names you can buy at retail and some names that have absolutely exploded the up side you just went through a list some of these are at alltime highs. The consumer is strong, the consumer return, the consumer has gotten out there the september numbers were well above what the expectations were these numbers are very, very impressive it does go to show you just how strong these guys are in terms of everybody getting out and about and getting into different retail its not just about the essentials anymore you just went through the laundry list the reality is, it is about people going out and getting clothing, shoes, yoga material whatever it is we might be, we are seeing an absolute run towa ....
Now. Thats a gain of better than 800 points, 2950 a key level for the s p, were slightly above that with a gain of 3 . And the nasdaq, where so much strength has been of late, 2. 3 higher, 9230, russell 2,000 having a big day as well kevin oleary, 2950, key level on the s p were all the way back to where we were in early march and you, my friend, you say youre growing more bullish. Yes, i am i listened to what the fed says and they have an unlimited pocketbook they made it clear they are going to overcompensate, scott, and youre starting to see it happen right now. The beneficiary of this will be issues of credit, we issued a trillion dollars worth of investment rate credit so far this year. Spreads have tightened you know i watch the etf market like a hawk. The fed has only done a few hundred Million Dollars of purchasing it is job owning that is getting it going this is an extraordinary time. If youre an investor and missed day ....
Here to discuss all that is adam parker, Research Founder and ceo, and a cnbc contributor. Adam, there were all kinds of reasons it made sense to anticipate a little bit of chop coming into august seasonals, sentiment, technicals, valuation, arguably, yields are doing what theyre doing, but Corporate America has kind of shown its hand on earnings for the most part this earnings season. Better than anticipated. The consensus is holding up on a forward basis. Where does that leave you in terms of whether, in fact, you know, the market can skate without much more of a correction i mean, if youre reacting week over week or, say, over the last month, i dont think the data make you more negative. No. I think if you were starting july 1, saying, im 50 , were up ten, down ten, im like 60 40 up now because i think the Big Compani ....
Depending on what the print is. Im usually the guy that comes on and says ignore the Economic Data. Its already priced in. I think in this case if we get a hot jobs report that contradicts the little bit of relief we got from adp in the middle of this week, i think that youre going to make new year lows in all the major indices. I really dont think theres any way around it. I really think if this, then that, and its as simple as that. I wish it werent so. I wish people werent reacting that furiously to a monthly look at whether or not we add 80,000 or 90,000 jobs, but absolutely the markets will be quick on the trigger. A lot of this stuff is algorithmic anyway, it doesnt require human beings until later on. I think that probably dictates the next thousand points in the dow, and what it does beyond there, i dont know. The good news is economists are looking for about 170,000 jobs. If, in fact, we come anywhere near that number, tha ....
Yields we continue to grow lower in stocks. And everything about the q4 playbook begins in the direction for yields. I do not see any fundamental catalyst in front of us for yields to fall. The last several days and certainly in the previous quarter, the equity market is telling you what the playbook should look like, and you think about utilities and in q3, they bolted down 10 , and its not about a safe haven. Utilities are down today alone, and high yielding sectors are not advantageous. The only area of the market i believe you could have a degree of confidence that while rates could stay higher for a sustainable amount of time is the mega caps. We go through the reasoning behind it, whether its the strength of the Balance Sheets or whatever it might be, and i believe a lot of it has to do with positioning. You have seen the nasdaq is slightly higher while the s p is down. Its not coming from financials. Look at financials and ....