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Our first guest says that this rally is all about jobs recent upside surprises in unemployment -- that had taken stocks in new 52 weeks highs so where does he think we're headed from here -- joining us now.
Is Jeremy parent managing director of Gilford securities and Jeremy it's great to have you want I'd like to -- notion that jobs is behind this rally.
Because three months of goods -- job that date dad does not a recovering make we still have unemployment at eight point 3% many believe that it will not be below 8% by the kind of presidential election rolls around so.
Give me give me here each year are gimme here for really.
Jobs being the steel behind this fire.
We actually think jobs are directly correlated to the market and were we've been the first three months.
Going into the third month this year.
You take a look at the markets the markets are directly correlated to the jobs in January we had a good jobs number and look at what the market did.
In February we had a good jobs number look at what the market did so we think that the market and the consumer confidence number of today is directly correlated to the jobs number.
But all this is look for consumer companies are -- consumer companies all of this is -- gas prices start tick -- start to creep up we do have an issue in Iran we do have questions of what will happen.
In Europe here and all of that plays a factor into what happens into the market so how does a push and pull with all of those factors.
Fold in to what EC -- strains and the jobs market.
We think that those factors very much -- for the coming year however when it's all said and done we're still very bullish and here we are price target.
And my price target is somewhere between fourteen.
Fifty and 15100 on the S and -- On we think that there's going to be some playing of the different items that you just brought up Europe the LTR we think that has some factors in there.
And we think though that.
As jobs continue to move -- you get more consumer confidence on that we're gonna have a better market yes I am.
-- carefully watching price of oil and gasoline and I actually heard stats that.
That every cent that gasoline moves it actually takes one billion dollars out of spending out of our economy.
Yet Jeremy you know you just mentioned the LTR we've got that big.
The next round of a coming tomorrow a lot of bulls in the market have said it's more about the printing.
Presses on both sides of the Atlantic more so than.
These jobs numbers which -- I would the superlative the best I can do is say that -- -- good but we've had a great stock market that would be set up.
For some sort of a pull back because.
Now the -- giving much higher.
Well if you take a look at what we do think that you could just some pullbacks in here.
Any healthy markets are gonna have some bold action just don't want to go straight up on a straight line basis however.
When that's said and done we still believe that we're gonna have these different items in the market and we're going to be up at the end of the year.
Are -- okay I'd like that but.
How many jobs in other words 200000 jobs when we've lost so many it's bad enough really to have to change -- tide.
I I look at these corporate numbers and in -- that the multinational.
Company like a -- line.
Were there overseas business is up 66%.
But a little ones I think driving the market but those companies relies on -- domestic economy.
I don't -- that we can create in their jobs Natalie dissipates we're going to just supply with a market is right now.
You said it right and actually president Obama's reelection is completely.
Going to be pegged to creating jobs and I believe that the US economy can create jobs it's really gonna have to happen in Washington and at the White House.
And in order for them to do that they really need to come up with some creative plans -- -- create jobs because again.
This market and the upside so far.
It's been about the jobs market in the upside going forward also going to be about the jobs market it's such a direct correlation and take a look at the market -- the first couple months.
It's directly -- latest.
Jeremy and knowing that you believe that there is a lot more room to grow on the S&P.
But how are you playing these markets sending.
How is it that you that you Latin factoring -- outside without making sure -- You are protected in some way shape or form.
Well I think that you make an excellent point and when you're in a portfolio you definitely should be protecting your portfolio.
And you could do that through stops each time the market goes up you can raise your stop look if you -- get stopped out in you have and you take a profit.
It's not the into the world's hands.
There was a good things to do.
Jeremy -- Gilford securities thank you very much.
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