Also in this playlist...
This transcript is automatically generated
From across the -- showing signs of recovery of the British services sector grew last month at its fastest pace in more than six years.
And business activity in the eurozone as a whole expanded.
For the first time in eighteen months on next guest says while we're in the early stages of a European revival joining us now David -- Chief market strategist at ameriprise financial David we'll get to Europe in a minute -- -- here in the US.
My saw the Piper Jaffray.
-- this -- get on S&P.
For the end of the year to 1850.
Is that little optimistic or not.
It it sounds it to me I have no doubt we net debt but I'm not sure by the end of the year.
In fact my view is.
We may end of the year a little bit lower than where we act today it just seems -- we've gone.
So long without any sort of correction here and it's time to see some signs.
Of a -- -- market.
I was my antenna got raised over the weekend when I was reading about how private equity -- saying what a great time it is.
To see -- seller -- What we also saw some record inflows into it equity mutual funds.
These are more hallmarks of -- market talk that a market that's.
A poised to celebrate does so I'm a little cautious in the short run CKP a cast on the sidelines for now but that -- -- -- off putting to work.
Where you -- what sectors do you like.
Well any US FI to subscribe to the notion that the economy should be getting better over the course of the next several quarters.
And so I think you need to be in these cyclical areas and I would start with consumer discretionary financials and somewhat of a laggard recently technology I think -- needs to be a big catch up and know spending on that.
On the corporate side so those -- the it if parts of the market I would be over -- but.
You alluded to it at the top that I think Europe looks more attractive at least right now.
Than the US does -- -- -- cheaper.
You know recovery story it's just getting under way.
If the financial.
Sector has -- -- -- don't Linares is opposed to Southern Europe.
Yes primarily in in the core and I would include you know -- the UK of course.
In this discussion after there -- service numbers this morning as well.
It's not across the board you still have to be a little bit selective but.
You can pick up a lot of -- class companies pretty cheaply in your -- more cheaply and you can't in the US.
You know it's funny you mention ISM I mean it was.
Not bad -- on this side of the pond and yet the market didn't really react was still negative on the -- Are we in the period do you think David where negative news has -- biggest thing to the market -- positive news has an upside.
Because I think the market understands.
Still we're getting very close to the beginning of tapering of Q -- and that the market's going to have to rest on its own laurels.
It needs stronger economic data the market does I think in order to number one.
Make it likely that will hit the earnings targets that have been set for the market over the second half of the year you're not gonna get that much you get stronger economic activity so.
Things are getting back to normal that's a good a good sign.
But it's still.
The not yet proven.
That that the economy is accelerating to the extent that Wall Street thinks it needs to get -- -- get those -- so.
David quickly I wanted to get your thoughts on tapering the did the jobs report pushed that back another month maybe two -- -- do we just get a mini taper.
You know I -- got mixed up mind here -- I think the Fed has done such.
Job of preparing a market for tapering.
In September October that it's going to happen I think October.
Very good thank you so much David joy of ameriprise -- -- it's time.
Filter by section