Also in this playlist...
This transcript is automatically generated
Doing extremely well.
Let's -- -- Randy -- about what's happening with the markets toward financial service -- chief investment officer there he says the best way to play the market is in equities and he's got three topics also -- show work.
Our standard bearer from the bits of the CMA Larry I wanna start with the UN I call it a relief rally because.
Of of the news on Syria by the way we should mention we just got this is breaking news.
John Kerry is going to be meeting on Thursday with Russia's foreign minister again to talk about this plant.
That started as as something that accidentally came out of about the drug carry.
Then it turned into reality is the Russians in the Syrians turned it over now it looks like it might become policy but -- is all this our relief rally what we're seeing on the market.
Yeah I -- another way to plan is that it's a painful rally it's something that started the end of August.
People or downsizing their exposure to the stock market.
With a minefield of things around nasseria.
-- what have you people who are very worried and as things go we see as a tremendous impressive rally.
Eight of the nine last days off six days a -- opt.
Right now people are marked covering her -- they're still very very negative so for me I think the -- trade.
Continues to be on the outside that people have not bought into this -- at least the traders behind me now Randy you are and Apple's stock fan didn't you recommended you've got an.
Your portfolio what happened today with a stop why was it that investors words were totally unimpressed by the new products.
Well I think on unlike says the situation where with the Federal Reserve taper.
I think in the apple case.
And they did sell the news they bought the murmur and push the stock up ahead of the announcement.
And then sold the news when there wasn't anything unexpected in the announcement.
But you'll you'll say by the news right are you still -- on this news.
Yeah I think today's today's -- is is an opportunity for you to get into a very very inexpensive stock there's still a lot of innovation left inside of apple.
Lots of employees that are they're working hard every day to make that stock go up.
And yeah they're going to be coming out with with more exciting things today's announcement was pretty good actually the the -- -- they're including in the new phone are pretty exciting.
Well I I gotta tell you I'm I'm a stockholders well of apple iPad apple for quite some time now I was a little disappointed by today's news -- -- Was nothing in there that we didn't already know right so why not.
Sell on the news itself.
Yeah after the short term that makes sense but I no longer term -- the coming out with.
This the new phone has not only -- -- -- but and also has.
The ability to measure movement so for exercise that's going to be really nice feature for people.
Who take their phones with them when when they go to exercise or go to the -- or just -- -- keep track of you know how many steps they -- -- -- Now Larry I don't wanna focus on a bad news on this today what we have triple digit gains in the Dow there was a lot of good news around.
But we did see your rise in interest rates again for a couple of days we had a slowdown in interest rates they're picking back up again I think was two point 94 it ended the day right edging closer to that 3% mark on the ten year yield.
And of course housing everybody is worried and two point 96.
By the way is where it ended today.
It has -- had to -- an effect on housing there's been a slump in housing demand and a lot of people say it's because of increased mortgage rates right.
Yeah I think so but let's look at the bigger picture mean interest rates are still so profoundly low.
And it is -- heard news of Bank of America Wells Fargo.
Might lay off employees because lack of mortgage interest right now.
Then this scheme of things looking -- history -- are still really low and we have to keep in mind that rates are going up for the right reasons that are economic data around the world.
It's crawling up a little -- better at a time the last not this -- have rates jumped at three and a half that's going to be good for the market but right here 3%.
What's the big deal I mean it's gonna cut some people out of market that's a tragic situation.
But I still think we're at in the baby steps and a big recovery and the housing market right let's remember.
Okay why I was gonna say some people say it's tragic that a lot of savers.
Are not able to get any kind of return and a -- because rates have been artificially held so low for so long that by the Fed and Randi that's gonna change.
Soon when it does what happens to the market.
Yes it that they keep point -- that rates are going up for the right reason the economy is improving.
We'd all like to improve faster I'd like to see -- GDP print over 3% sometime in the next six months we might get there we might not.
But what's going on China's exciting he Europe look like it may be bottoming at this point.
So life that economy's getting stronger than housing is gonna do okay people are gonna get jobs that don't have jobs now and they're going to be able to come into the market.
By the way let's talk about a couple your pics I've mentioned apple of course.
These say it's a new entry into the Dow Jones Industrial Average we saw Bob today is it too late to get in on -- Randy.
Now -- had a nice run but I'm what a fantastic company they don't take a tremendous amount of credit risk.
They don't loan the money the banks are behind them loaning the money they're just taken a piece -- every transaction that happens electronically.
Which you know by the way apple may be able to get into that business as well with the new biometrics what do you could do near transactions more easily on your phone.
Yeah Baghdad fingerprint Martha good might be followed it's going to be -- -- also by the way retailers getting hit bad.
We had a lot of bad news a couple of weeks ago retailer's stock went down today Urban Outfitters down.
10% you're going with a retail under -- why do you like them.
Under -- is fantastic they continue to innovate they continue to -- the tip come out with new products they then they continue to expand their global footprint.
They're trying to move back out to from just being a US kind of centric company.
Into more of a global company moving into things like that Tottenham Hotspur is you know English premiere league soccer.
You know sponsoring this sort Randy I got a guy Terry my parents -- battery life it is such a thick gold market.
That is one reason why retail was so hard to get ahold of why isn't under armour part of that fickle -- of the consumer.
Yeah it is yeah I mean if if we're going to -- recession.
Then you wouldn't want to be in under -- but we're not going into recession the economy's getting better so more and more people are able to afford.
The DO little luxury of an under armour type of product that.
Well on a day when the market is up -- 127 points on the Dow lets keep it with a positive tone clearly investors feel that way today good to see Randy thank you very much Randy ward.
Appreciate and -- show -- we're gonna check in with you -- a couple of minutes.
Filter by section