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But right now is really still all about well the economy here at home and abroad and between the two of them Wall Street is totally -- -- in the stock market right now.
Down Eugene profit as with this though portfolio manager profit investment man is man DC.
Eugene it seems that we can't get out of our own way as far as -- closing and we're sitting around waiting for them to make a decision.
Yes Tracy I think your intro was was -- -- you hit the know around my head there is a whole lot of confusion and and it it seems like I guess miracles walked away for promote addressed the parliament.
And so I think on -- it's the weekend traders for the most part will be flat so He said were down 41 points now I suspect we'll continue down.
And tomorrow probably down as well as as.
Investors take -- golf with to wait for some understanding what's gonna happen with -- Europe.
Right and so we are seeing is traders abruptly sell.
Take the cash tone for the weekend and week to see what happens no one is really anticipating anything monumental -- that's kind of the scary part about this whole thing you know.
We've had meeting after meeting -- -- after someone over there and it it just says it it almost seems hope.
Well the summits that I mean there are some folks that that does that do expect there needs to be a bankruptcy or default.
On to resolve in all of this is hard to discount that though in the stock valuations right so on the market goes higher when -- -- Type football that there would be some kind of resolution but then you get to a point again where they're looking for more money there's more -- measures all on on the table.
And you see more protests and investors basically don't know what to do but go to the sidelines because on that when there is a default on certainly in the future that might.
Make for better situation.
But immediate near term on that makes for -- you know a bad time for investors.
Yeah so let's -- background now what do you think.
Earning season thus far are you surprised disappointed -- stand as far as that goes.
I think it's certainly been a mixed bag I think when you look at the banks across the board it's been all about.
Foam debt valuation adjustments and so.
Earnings that banks are basically down 35% from a revenue standpoint which is not good which goes into Blackstone comment.
-- Intel actually head.
I'm pretty good earnings but it seems to be a little bit of a conundrum -- when you look at Dell and Hewlett-Packard.
On their earnings on commentary was not that good and then a we're waiting for Microsoft certainly this afternoon I actually hope that the revenue number comes then.
On the you know OK there we are holder of Microsoft but on the doesn't look like that they are strong PC demand we all know that.
The jobless numbers are still feel not good so.
A lot economic data has been mixed at best and earnings have been all about.
On Mars and expansion as a result of lower commodity calls than lower headcount than actual revenue growth.
-- exactly which is why earnings you know.
Earnings are up revenues down so then you know are you in the camp that we're gonna -- -- double Alicea doubled dip recession again.
Well I don't told that all we get all the way to a recession I think that that the deck a stack more towards that the Knot with.
All -- -- European contagion you know fears that are out their -- with on the that it.
Actual jobless growth on being somewhat non existent.
But I do think on that -- with.
Individuals that do have jobs on the economy seems you know to be fine prices are not.
On going up old you know too much so.
I think net net this equal either which way all -- market goes higher or lower based on.
On some of these ads on the socks that are -- went out there like with respect to -- as you mentioned.
-- -- -- clients feeling these days and they feeling better or -- -- mean.
You know do you feel like it's that bill murder Murray movie Groundhog Day the comes is -- -- out on the phone with them every day.
Well I can rotate so we that we most of our clients -- institutional investors so they certainly understand you know what's going on but -- the fact of the matter is.
-- certainly investors feel better.
When the market's going higher a few long only -- -- right so.
All to the extent that you -- confusion out there different talents have different approaches to you know to it people or certainly.
Paying a little bit more tents and how much risk is in their portfolio.
-- home it's been quite a while.
Of since there's been clarity around what return expectations should be so there's a little bit more tempers flaring you know here and -- but.
You -- that -- that Europe is the same issue we had on last summer but in between the market went up 40%.
And then as you know has come back down.
So when you you know day by day yeah up or down you know it depends on the mood investor.
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