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-- -- all eyes of course are on Europe this week but our next guest says you ought to be worried about another part of the world.
And one country in particular and here's a net oil is now back to about a 102 dollars a barrel.
Yes and we're gonna bring in David joy chief market strategist at ameriprise.
A financial he's with us here -- studio good to see David.
You talking about Iran and indeed the oil crisis take it says a shot up Iran claims to have shot down an American drone United States as -- -- -- from that there's drawn missing whatever happened how big -- concern is Iran right now for the markets.
Well it's a potential concern because of obviously the markets need flow of oil coming out of the straits of Hormuz uninterrupted -- And of course is Sabre rattling that took place over the weekend where they threaten it double the price of vote oil that's really what they're talking about they've been building up the military capability to blockade that straight.
And I would this to happen it wouldn't take much to push us into another.
Global recession with prices already -- what.
And they've been the -- country has been increasingly defiant in the protesters at the British embassy last week and we're so focused investors are so focused on Europe.
And that always bothers me when everyone is fixated on one concerned and then they might be missing something that is much grave.
-- -- in the other thing -- -- but from a from an investment perspective.
I think energy stocks are attractive here because I think the global economy is getting a little bit better are starting to see.
Monetary policy in the emerging world -- to become more accommodative.
And I think Europe is on the verge of this -- markets about its concerns -- not sure they'll solve -- this week but they're getting closer.
So that means -- all likelihood more demand for energy to Begin with so I think you wanna be invested there.
This is a real wildcard coming out of a random in -- could drive prices even -- -- so if you want to streamline their beach man and a -- and some you know Forrester absorb.
Economically you said it wouldn't take much to push -- back into a global recession how much would take.
Well if you look at the price of brand dollars a barrel -- things less -- -- up to -- -- 130 or so.
I think that might be enough to provide tipping point here so we much of -- cushion.
To go duration.
All of these tensions and -- the drone you know could be started forty dollars about him.
-- gave gas prices and head back in the other direction and had higher as we move into next year.
That's certainly guarantees that congress is gonna extend -- payroll tax cut doesn't non.
I think that's going to happen anyway I think probably -- -- extended unemployment benefits happen as well.
But the other thing is what we -- a little bit better than expected economic news in the US recently a lot of it attributable to consumer spending if we all of a sudden now start to get gasoline prices rising.
That's gonna put a dent in in you know Bunning consumer confidence and we need all the help we can get and wanted to keep.
The economy moving -- a decent pace China before we let you go all these concerns on the table.
You're relatively optimistic or no yes.
Number -- think the economy in the US is getting better.
EM turning to focus on growth.
And I think Europe's on the verge of doing something that will make the market's a little bit of -- -- you -- that's longer well we're not all yet but we're dealing with politicians here.
-- never announced a 70% gain in a way cats is that is the most optimism that you.
Did you got your back on a little well I think I think Stoxx is still.
-- cheap here.
Despite the rally that we fed because our corporate earnings have been very very good announcing -- to kept pace with the growth Davis tried to save David -- -- in the world literally -- thanks David potential.
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