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RBS Securities Managing Director Michelle Girard, S&P Indices Senior Index Analyst Howard Silverblatt and Stutland Volatility Group Partner Luke R...
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We go back to be -- -- say because I think we're burying the lead Erie which is a connection between Las Vegas Sands and apple.
Both of these companies depends so heavily right now on China and -- China is doing what we saw that with the iphones in China.
This market here in the US is saturated with -- not so -- China.
This market may be saturated with gambling casinos not so -- -- the rest of -- so it is the Chinese growth for both Las Vegas Sands.
And apple which is causing their their increase in a bottom line.
And hey you know I argued here is that China is actually OK there's so much concern about a hard landing in China.
The numbers held up better I think than people had feared and I you not you really is that they -- they have the room with some inflation coming down in China because prices.
Are not you know pushing upward like they were a year ago that this will actually -- policy makers in China to provide more supply.
-- -- I'm just wondering I know you don't pick stocks but I I'm thinking that stocks that do have exposure to China.
May indeed do well based on what happened first -- apple yes they would Las Vegas Sands today.
Yeah.
Muppets -- this focus on the year Arizona and what that might mean and global growth but the truth this is that emerging markets.
Are actually holding up well with the US continuing to benefit from that I think there's sometimes too much focus on.
You know the negative not impact of the -- global growth -- -- does that pose a what's possibly still going on.
In in most of the emerging market well let's take a look and we can go back to Luke because we've got some numbers on how the US Las Vegas Sands consumer is doing.
Los Vegas operations revenue 384.
Point six million and then the sands Bethlehem which is in Pennsylvania.
About a 115.
Point six million that compares of course to what they had at the four seasons hotel Macau.
299 point six million does that give any clarity -- -- -- -- says the Chinese consumers doing better but those numbers don't seem real bad to me it's not a huge debt.
And as on the overseeing about where we are in the US and picking up slowly remember were projected growth Richard 3% and it looks OK to me.
But the China story for that definitely.
I don't think of China and some of these other brick countries -- emerging -- -- growing not they're definitely there and if you think about GM if you didn't about Yum! Brands.
GM is selling more -- in China that it is in the US.
Right these are not emerging countries anymore -- growing companies are establish.
How.
-- let's pull back for -- look at what's happened so far -- earnings -- -- some of the earnings by the way have been great.
Not just good but great historically by historical perspectives.
But still we have problems with production with growth with the overall GDP growth.
When does that change when does the growth of the economy catch up with what we've seen -- earnings.
Well and again yes the -- -- coming in very good fourth best -- on decade.
However what we're not seeing right now is confidence and faith in what is going for the numbers are good at this point in time but what we need is more Cochran's going forward in the -- and it is too much unknown out there.
You don't know what's gonna happen to healthy you know it's gonna have with taxing -- not -- no idea repatriation of that as we get at this point one.
Companies can't produce oil and made plans on -- -- the need to know what it is what's the political makeup and having you know work together.
When we get that invest -- will be willing to go they current PE is a fourteen a very small he -- its nineteenth.
Meaning that would sell at that 1980 S&P would've been closer -- 19100 today we will be having champagne.
So it's an unclear picture we have going forward which is not under control.
-- companies.
Howard silver -- Michelle Girard and of course look for part thank you all.
