Fox Business
Expand
Browse All Video
Watch Live

You're watching...

Kleintop: Wait for Buying Opportunities

Details

  • Description

    LPL Financial chief market strategist Jeff Kleintop on how to invest in today's market.

  • Duration 2:49
  • Date

Clips

Also in this playlist...

Latest Investing

Auto-advance: ON

Auto-advance
View All

Transcript

This transcript is automatically generated

The check the markets -- when they drive the markets have been talking a lot about this US manufacturing learned today grew at its fastest pace in ten months.

Bucking -- trend of negative economic data lately but are we gonna -- brings slowdown similar to the slowdowns we experienced last year any -- before.

LP a financial chief -- strategist Jeff Klein tot joins us.

To wait hey -- is great to see you again and -- you wrote.

Extensively about this this week but first let me ask if we -- get another spring slowdown for the markets what's the trade.

What military maybe cash sit on the sidelines -- don't think this is gonna be a big pullback remember -- 16%.

In 2010.

It was 19%.

Last year.

This failing F five to 10% move for a variety of reasons foreign.

Foreign central banks are easing there's a lot of -- less pressure this time around that they need just sit on cash wait for those buying opportunities to come to -- Now what I does buying opportunities at what point in the pullback he died in and what factors.

I think you -- -- look for technology and industrials to business spending oriented sectors also leverage to the emerging markets growth that'll do very well.

And media as well you know this is an Olympic year it's an ad spending ear for politics.

And you've got retailers fighting over a shrinking amount of gov consumer disposable income I think we'll see a pretty good pace of the media spend as well should benefit those -- OK so you wrote this week ten indicators that foreshadow the declines at.

2010 and 2011 let's try to -- through these as quickly as we can't starting with that stimulus we know the twist is gonna wrap up here.

Next month and there's no indication of further monetary easing so that could be a problem for the stock market.

Right well not yet we have we haven't seen any indication -- they're gonna do a QE3 remember when QE1 ended QE2 ended the market fell sharply until the next stimulus program was announced could we see the same thing here June 30.

Come Operation Twist that's the risk.

Red flag LC -- economic surprises but -- that ISM manufacturing number this morning surprise a lot of us it was almost a relief.

Considering the basket of poor economic news -- had the last couple of weeks do you agree.

Well it is a little bit but keep in mind the only guys that doesn't make the list of one of the reasons is that.

The -- in mid April of 2010 and 2011 was a solid number.

Well but it wasn't enough to stop the market from falling in May in each year wasn't until May and June that we actually started -- so weakened so.

I think the trend for most data is still to the softer side -- it was mixed it was a mixed read on a regional manufacturing and this again and again a bit of relief.

We got a couple seconds Jeff iPod -- All we are absolutely a little bit of relief was -- was good to see auto production schedules I think -- ripping up any more than even we had anticipated so that's a positive positive for lot of commodities out there which are up today but I think there is still some risk that economic data still could see a summer swoon come you know -- engine.

All right Jeff -- top were prepared for if that does happen just with -- --

Load More