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Zacks.com Senior Equity Strategist Jared Levy on the impact on the markets of recent positive economic data and fiscal cliff concerns.
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On seventeen days -- seventeen days left you believe.
It's until the end of the year and of course the fiscal clip our next guest says the market's expecting a solution.
But who knows with the details will be and he says we should be focusing on recent good economic trends.
And of course as we -- -- the trend is our friend joining us now Jared Levy senior economics data equity strategist with Zacks dot com.
Jerry and let's get right into -- say you think that the market is a little overzealous right that we think we're gonna get a deal we're gonna get a good deal that's why we've been up.
Remember the mark.
-- digest what information it has it doesn't have any information other than the fact that there's propagated.
-- -- -- -- deal Tracy was the deal is made and we know the specifics at that point the analysts they adjust their regression models.
And then they change their projections you know you saw even -- even Allen's analysts made some changes the stock got 10% so.
If the deal is bad we could do -- sort of a correction right now you go -- -- and right now the economy is moving.
Higher -- this -- us Citi economic data that we -- getting it is actually inching up bit by bit any consumer confidence fluctuates here -- -- but for the most part right.
Sort of -- up yeah yeah.
Meanwhile the biggest thing -- -- -- you know housing is the one thing that most Americans have to hedge against inflation.
And housing numbers have been improving next week -- of the things I'm watching Wednesday and Thursday we've building permits and we of existing home sales building permits expect point.
88 million he -- he had ever for that for the market to go up.
On Thursday those existing home sales four point 88 million dollars -- -- annual numbers.
Those numbers I just gave you or what the markets are expecting if you're gonna see continued rally that's -- we need.
-- in terms of housing.
At bare minimum are you worried about that all the liquidity it being pumped into the market is the reason for this -- for these good data points.
I think.
If there is certain -- there's a lot of contributing factors -- -- remember.
Fund managers a lot of them underperformed this year you know towards the end of the year they -- feel confident they all jumped -- they're not gonna jump back out right away at it at least until January want because now they're being measured upon performance.
They're bonuses they're these are all take it upon that sell a lot of that money has -- to the markets if there is a changed.
In the way our economy trajectories gonna go what they believe there will be come January 1 -- whatever decision is made I think all of that.
You know it's up for grabs a right now -- market to continue move higher watch also next week durable goods numbers and the Philly Fed very big big numbers there by the way Philly Fed to look -- for a drop of only one point 6% that's the -- you wanna focus in on.
I want to let you take a victory lap quickly on apple you said apple was gonna fall you would have the opportunity to get in when it's down it is down now since you -- -- here a month ago.
Are you buying it here.
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Always with -- -- have a great weekend deadly -- -- the.
