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Wells Fargo Managing Director Bryan Piskorowski discusses factors including the fiscal cliff and election that weigh on U.S. markets.
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Stay where you are want to bring in Brian crisscross he is Wells Fargo managing director and it I gotta say it was it was a surprising.
Three digit gain on the Dow and the S&P.
Brian -- were you surprised and specifically were leading into that huge jobs report this coming tomorrow that's how we're gonna affect the election.
But it may affect the markets as well how was all -- -- shake out how to we prepare for.
I think what you have -- this afternoon here is a little bit of a melt up in some short covering going in the big picture here though is remember we spent the month of October consolidating.
The unit thirteen 14% -- we had off -- the June and lows and now that we're setting up for the election.
I think you're seeing position squaring at this point time you know I think the fiscal Clinton is really going to be the big focal point but he did get a little -- with a group the new way ADP report -- is -- -- -- data that now at the way to calculate that some some positives to going into those numbers.
For the the employment data tomorrow big picture here -- -- don't think anybody's gonna be a hero right now you know you're looking at the earnings reports which have -- -- little bit more negative than we've seen over the last few quarters not to come as much surprise -- just given where we are in the cycle.
The big picture that was I think a lot of corporate -- there just are willing to go out of a -- right here given the fact that we still have Election Day and that is gonna have a huge impact.
Given what we're going to be dealing with with fiscal -- -- Starbucks.
