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-- -- That's -- and a lot of things especially the markets and since that market -- back in 2009 isn't it 500 rally has been let.
Bicycle -- groups like the consumer discretionary -- in financials.
Staples has kind of been relative under -- -- -- next -- actually says that is about sheen's.
-- and chief investment strategist Appleton securities joins us now let's first talk about the Fed.
Money -- keep comments so markets really.
Feed jobs numbers getting better though -- waiting for Friday's big number tomorrow how you feel about everything right now.
I gotta tell -- still feel pretty good Tracy and I'm sure some of your viewers are probably saying my -- 17100 on the S&P 500 we've we've never been there before stocks getting expensive.
But if you look at it on -- -- basis.
You know this is about in line with -- with historic averages also to earnings estimates are continuing to expand.
Technically the S&P 500 looks good and probably most importantly.
You know the retail investor is -- really getting started rotating back in the stocks we saw we saw some heavy -- the beginning of the year.
But but lately.
That that is trickled off so that the retail investors still skeptical about this route and you know well -- warriors into it.
-- so I feel that's probably the thing I feel best about Tracy.
But you're right it's taken them so long you feel terrible that people have missed out on this run.
I ask you about the small -- mark because I know you're a big fan Russell 2000 has been on air does it still had more room to go -- I think senator you know these -- he's the -- said take take a war lasts for a long time I've really got on the big cap but growth train coming into this year but I shifted over to small caps beginning of the year for a couple of reasons number one minute.
I thought the dollar was gonna -- -- -- which it has done and I it's gonna continue to do and that takes some wind out of the sails of the big cap multinationals that hurts it hurts their earnings.
That's number one number two we had -- -- -- the dividend tax increase earlier in the year which also hurts the large cap dividend payers and finally.
You know as as a bull market broadens shouted it goes into the riskier spaces and of course small cap but as -- is perceived to be one of those so why that's that's just history tells us that so why I do think it has some room to run yes let's.
A little about these big caps -- Exxon.
Big disappointment at the numbers refining profits down 94% I know that's a big margin story how -- -- that Exxon.
Well -- -- -- the energy group in general Tracy because we think that the the PE multiples are pretty pretty hot iron in relation to the visible earnings growth data and for.
Probably Exxon reporting today but Chevron as well one of the reasons at the end of the visible -- extremists is weak.
This is because it's just getting harder to get the oil on the ground there having to use these more expensive methods that -- that we hear so much about.
And so as you said this is this cause for refining.
-- can't come traction today but this isn't this isn't new for that for today MS has got a problem is gone for eight quarters.
And I think I think it's gonna continue so why I think this is going to be a tough this part of the energy space anyway it's going to be and continue to be top.
It is that you get -- like to speak energy that totally blew it out of park is an -- gas prices let's talk about the consumer staples -- you think this sector is gonna turn -- right Procter & Gamble.
They actually had great numbers today I mean.
No matter what raise the price is on typing class people are still buying my and I am.
Them off the volumes at Tracy continue to be really good their revenue growth was really good awning on the other side of the equation for PNG they do it's they did see some sluggish margins themselves -- -- -- But as you say and people people are buying and then yeah I I do even though the -- -- under perform night I continue to work.
To like consumer staples.
So let's talk about -- going into earnings tonight -- what -- you looking for I presume it's got to be some kind of sales growth right.
Yeah I'd I'd say sell and we were more neutral wanna stocks so so subtly as as they -- don't necessarily have a dog in that -- one way or the other but the -- -- -- sixty cents cents a share and I would I would presume.
That a -- is a company specific problem that they'll see probably somewhere report to PNG -- good good sales growth Indiana as as a minimum I would suspect.
And cook macaroni cheese -- -- in my house I say that number's going to be after the race is rob -- in a falcons securities thank you very much nature and I gave -- -- class -- cannot tell you.
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