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Well thank you let's stay on the markets topic here for just a moment joining me announce that is Tobias Levkovich chief US equity strategist at Citigroup investment research.
So opening it and what we're saying this again this call from Goldman I related to competing -- RAF well I have not -- -- but at the same time there's -- is the US economy.
Short the S&P.
What do you think that.
I'm not surprised that there -- -- they've been bearish for awhile you know we've we've had a 1425 targets since the end of last year for the S&P -- the end of this year when -- look.
Still have that view I think the market did -- little bit too.
Sharply here on the Greece news on.
Can we Operation Twist again kind of thing.
And this bounce off kind of -- -- -- on the lows in the US and 213 fifty was probably overdone as well.
So I don't necessarily disagree with.
The David -- critical when -- that markets global back a bit I do disagree with his year end target which is below thirteen.
I would like to think you also are on New York Sunday's over dinner in coming well they're not hello.
-- that where he's a great guy okay.
Is it can different in our minds that obviously company earnings and mean July is coming up as fast and furious now we're gonna be getting new reports coming out what do you perceive.
I think we're gonna see companies guiding down the second half hollow for earnings expectations right now and -- I would really focus on the fourth quarter.
Fourth quarter is looking at bottom up consensus earnings estimates up 16% year over year after -- -- middle mid single digit type numbers.
For the first part of the year so unless you have some great great expectations for.
Economic -- so rationed in an environment in Europe as weak or China's slower in the US has the fiscal cliff that a bit and election uncertainty hard to get I.
I don't know it to myself I would think that you would be a little more about bullish frankly I'm surprised -- -- you artist David -- net written and our earlier.
Note this week saying that look they're still four point three trillion dollars in US stocks right now yes there's been a lot of fund outflows but it's not the panic that we would have seen in there has been a decent rally for.
Three this does more to think piece that we're talking about after all -- bad news is everybody running away from stocks now I am bullish I think the markets will rally here by year end of 1425 in the -- -- take.
What I do think gives you -- -- figure your timing right if you buy today in the market pulls back to 3% do you -- Wieting coming by today so we're kind of look at what.
What's gonna -- give back earnings expectations -- to arrive they'll cut them and then.
You wanna step in because sentiments in the right place valuation is this is wonderful in terms of probabilities of outcomes all those things are pretty very that are pretty supportive.
I'd love to see a couple of kind of technical things -- in the right way and they're just not there.
-- is an economic reports -- around supplies they -- them -- our economic surprise index and I doubt that and that's still falling we'd like to see that turned out.
-- absolutely Tobias Levkovich good to have you on the show good to see you.
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