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Done to stop China.
What's expected these markets what a day for the major indices US global markets continuing to hit new highs.
The Dow the S&P 500 hitting new intraday highs today.
Another -- this not to have just a thousand looking good as well joining us Wells Fargo advisors senior equity strategist Scott ran.
That is good to see another day like today I mean if you want do what institutional investors have been buying.
For the first time in his six month rally since -- risk -- out there.
Has Sheryl I think I I am glad to see it because really.
After the first quarter.
All defensive from you know top 22.
-- at the bottom this last month that -- particularly since the middle of last month it's been all cyclicals and that's what we have been expecting I think cyclicals are gonna lead the charge.
And it is more of a risk on type of type of market and you know the momentum.
You know we may be a have a little -- momentum right now but it's grind and higher and I think it's probably gonna continue to do that at least in the short term.
I know that you say that the US -- markets really are the only game in town right now but we're also seeing new highs around the world today.
Whether it's Japan whether it's year 2008.
Levels what do you say the US focused investors is -- time to -- look overseas as well do you think you kind of get into some of the momentum that's happening on the world.
Well I think that that -- you know some of these emerging markets and commodities overall we're still a little cautious on and I would've expected.
The emerging markets to maybe come on.
A little bit stronger growth wise and things like that by now I think that's going to be pushed out toward.
The latter part of the year and into 2014.
But you know we've been a little light on commodities we've been a little light on emerging market exposure over the last six -- so we're definitely looking for.
Places to pick up.
To pick up some more exposure there are so we like those areas clearly that's where the gross going to be if you look out over the next 51020.
But we've been focused lately on on large cap.
US stocks it's worked out well as I said our our sector orientation has been a little lost but.
But as far as magnitude direction what the economy's doing.
I feel pretty good about what our projections have been there and and I think really we are going to see these cyclical sectors performed better through the end of the year.
And I -- -- to 2004 and now you've got 1625.
As -- S&P target but I -- -- -- let our viewers that you're telling your clients at this point.
That's where you might want to sell a little bit take a little bit off the table.
You mentioned sectors of the wanna get a couple of sectors with you every sector right now is hired only one -- saying it's negative at this point.
Is technology which actually was higher this morning.
But you lacked a -- -- say that that's where really we can make some new money some big money why technology in your opinion Scott.
Set so that technology has really -- year to date except for that last month and I mean we've really had a big surge over the course of the last stuff for weeks or so but I think that capital spending is going to kick and a lot of companies globally really.
Have cut back on -- IT spending.
I think that's going to change as we move into 2014.
And as this global recovery continues you know I think you'll see better growth in the second half the year better growth and -- -- fourteen.
I think same way here with the State's slow growth.
Modest dependable two and a half percent GDP for this year so I think technology is going to benefit from that it's not like there's a lot of new products out there.
It's just -- companies are a bit behind and in capital spending on technology to save your previous guests talk about cyber.
That's -- cyber security that is going to be huge.
For years to come.
Technology in general.
What we we're gonna see some more of investment there from companies who have just just really not spent much on technology over the last few years.
Paris got -- Wells Fargo senior equity strategist Scott thank you all it's good that is special -- it like today.
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