Financial, energy stocks weigh on the US market

Financial, energy stocks weigh on the US market


CHARLES: FOR THOSE WHO FRETTED MARKET PARTICIPANTS HAVE BECOME TOO SANGUIN. THERE WERE MORE DECLINERS THAN ADVANCERS TO MANY SESSIONS. THEN THERE IS MY FAIIVET AND FASTEST WAY OF TAKING A POLL. THE NEW YORK STOCK EXCHANGE SAW 9 STOCKS MAKE NEW HIGHS. NASDAQ 13 NEW HIGHS AGAINST 401 NEW LOWS. AFTER AN INITIAL TIDE LIGHTS MOST OF SHIPS, THE SUBSEQUENT PART OF THIS RALLY COULD PROBABLY BE EVEN MORE SELECTIVE THAN WE HAD FOR MOST OF OF THE YEAR COMING IN THIS WEEK. HERE TO DISCUSS, MELISSA ARMO AND JACKIE CLEVELAND. 200 OF THE S. & P.500 STOCKS WERE DOWN. IT’S BEEN A SELECTIVE MARKET TO BEGIN WITH.>>TECH HAS LED THE MARKET, BUT FACEBOOK HASN’T LOOKED THAT GOOD SINCE JULY. AMAZON AND APPLE WERE LEADING THE WAY. OVERALL WE ARE GETTING INTO EARNINGS SEASON. I WILL SAY ONE THING. REMEMBER WHEN WE SOLD OFF QUICKLY EARLIER IN THE YEAR THEN WE RALLIED AND WENT NOWHERESVILLE. WERE THE BUYING DOES COME BACK IN, I WANT TO SEE IT CONTINUE, GO BACK UP AND OVER THE HIGHS. CHARLES: WHAT WOULD MAKE THAT HAPPEN?>>THE DOW NEED TO GO BACK UP OVER 26,000, AND THEN 27,000. RIGHT THERE. CHARLES: JEFFREY, EVEN WITH THE RALLY AND WE HIT THE ALL-TIME HIGH, IT WASN’T BROAD PARTICIPATION. SO THE THOUGHT WAS, WHAT WOULD HAPPEN WITH THESE RALLIES IF THE TECHS FALTER. I DON’T THINK INVESTORS CAN JUST THROW DARTS.>>AS AN ECONOMIST I HAVE NO IDEA WHY STOCKS ARE DOWN. ONE OF THE BIG CULPRITS WE HEARD IS INTEREST RATES. INTEREST RATES HAVE BEEN BACKING UP SINCE EARLY TO MID AUGUST. YOU CAN BLAME THE FED FOR THAT PERHAPS. BUT IN MY MIND THAT’S NOT A GOOD REASON FOR EQUITIES TO BE DOWN. INVESTORS ARE SAYING THAT’S THE TIME TO SELL STOCKS. THE ECONOMY IS STRONG ENOUGH TO WITHSTAND HIGHER TREASURY YIELDS. CHARLES: ARE YOU CONFIDENT IN THE FED NOT TO OVERDO IT?>>I APPRECIATE HIS HUMILITY AND PRACTICAL APPROACH? HE’S VERY OPEN ABOUT THEY DON’T KNOW WHERE THEY WILL END UP AS A CYCLE. THE WON MARKET GOING INTO THE LAST COUPLE WEEKS WAS CERTAIN WHERE THEY WOULD END UP. HE JUST SAID NO, WE DON’T KNOW EXACTLY WHERE. WE’LL GO SLOWLY. I THINK THEY ARE GOING SLOWLY. AND THEY ARE GOING TO WAIT AND SEE IF THEY BREAK ANYTHING, THEN CONTINUE ON. I THINK THAT 6% PULLBACK AGAINST BROAD INDICES IS NOT BREAKING THINGS.>>PEOPLE ARE SAYING WE ARE CLOSE TO A DOWN TREND.>>WE ARE NOT EBB CLOSE. WE ARE NOWHERE NEAR DOWN TREND BECAUSE THEY RALLIED SO MUCH IN THE LAST 24 MONTHS SINCE TRUMP GOT ELECTED. THE DOW WOULD HAVE TO BREAK 23,000. THAT’S THE NUMBER FOR US TO BE TECHNICALLY IN A DOWNTURN. AS FAR AS WHY, SOMETIMES THERE ISN’T A REASON WHY. SOMETIMES –>>SOMETIMES IT’S MORE SELLERS THAN BUYERS.

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About the Author: Oren Garnes

17 Comments

  1. And Trump ain't to blame for the stocks crashing the democrats are crashing the stocks because they don't want to go into the military Tribunals.

  2. Chill the stock market will be find it a big down but it will be okay the stock market is evening out that what happen now

  3. Nothing is going to crash.
    This is just the elites taking away your tax cut while they scare you into voting against republicans/Trump.
    Big tech is holding their breath until after the election.
    Market will be back up to 25,5/26K by first week of December.

  4. That woman is an absolute joke🤦🏻‍♂️ these people are absolute morons! Peter Schiff made her look like a preschooler several times. I’m an average guy and I understand why the Shit is about to hit the fan and these morons don’t know why things are imploding 🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️🤦🏻‍♂️ if I could upload a gif it would be a stick figure banging his head against the wall.

  5. The non-governmental Federal Reserve (private bank) is doing exactly
    what the globalists want. Raising interest rates, as the old maxim goes,
    "When interest is high , stocks will die." The little faggot Bill Maher
    said it when he said that the only way to get rid of Trump was to wreck
    the economy. “Because I think one way you get rid of Trump is a
    crashing economy. So please, bring on the recession,” he said. “Sorry if
    that hurts people, but it’s either root for a recession or you lose
    your democracy.” The Mid Terms are here so here's a little basterd who
    would for no other reason that because Hillary lost would rather throw
    people out of work, destroy families and cause a nation wide economic
    calamity. This is your Democrats. **************** VOTE REPUBLICAN
    ****************

  6. Basically they’re saying don’t panic which means if you have half of a brain cell get out tomorrow thankfully I saw this coming and got out months ago

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