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-- the major averages as we've been reporting following all day long in the green after pulling back yesterday.
Why else fears the -- will start slowing down its bond buying stimulus.
David -- in their -- -- chief market strategist and he says stay invested US equity markets are the place to be.
OK a lot of people I think -- financing engagement -- -- you weren't there are some cautionary signals to be wary of I'd like to start -- -- Yeah first of all I think it is awfully difficult to fight the Fed -- I think it's fair to say they've been valuations are still reasonable but.
A couple of warning signs one.
You know that first quarter earnings season pretty good but revenue growth was flat.
Guidance was very downbeat for the second quarter.
In addition we came out of the first quarter was a little bit of softness in the economy we may be able to get through that but at the same time.
We've had some weak data out of Europe and China in terms of industrial production so.
At this general expectation that -- going to re accelerate globally in the second half I think is the right call.
But we haven't seen a lot of tangible evidence of it yet so why I like that stuff.
-- and that is David started coming here but I know.
And you've got a keen eye on this rotation into cyclicals so what -- Satisfy.
You in believing that this rotation out of the offensive names into cyclicals a sustainable.
Well I'd like to see a little bit more improvement number one in Europe.
Is that it but it's my expectation that you'll see some of the -- -- from austerity begin to slow down.
Leading indicators that suggest of that but we haven't seen any -- tangible improvement that's number one.
Number -- in May be even more importantly I'd like to see some firmness out of China.
They slowed down.
In the first quarter expectations they'll slow down again in the second quarter.
And -- the marginal consumer of a lot of the cyclical.
Materials and industrial goods and so forth in the world.
So I'd like to see a little more tangible evidence summit before I think that this is sustainable does it.
-- -- -- US markets even as some of the overseas markets in Europe.
-- people are starting to find options in your calling it at least cheaper this -- And I think that's right and so what I would say is have some exposure to Europe have some exposure to emerging markets.
But still -- -- in the US because first of all we are growing -- a lot of these other places on not okay.
And I think -- the Fed is is still going to be aggressive for at least a few more quarters.
Okay David thank you for joining us obviously busy news day we'll have more time next time.
I promise -- think.
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