Bloomberg, Charlie Pellett, Wells Fargo Securities discussed on Bloomberg Businessweek
Force base. I'm Barbara Kusak. And I'm Charlie Pellett at Bloomberg world headquarters. Stocks dropped from early session. Highs to Kappa record-breaking week with something of a whimper declines in tech giants including apple Amazon and Facebook dragged on benchmarks as quarterly rebalancing spurred trading S and P five hundred index breaking its three day win streak. The Dow ending the week at a record. So where does this leave money managers? What are they looking ahead to Chris Harvey is head of equity strategy at Wells Fargo securities? If you're a mutual fund manager, you're looking Tober thirty I which is when you close your books looking at twelve thirty one which is when the year ends you're thinking about nineteen and you're thinking about what's going to happen in nineteen as far as central banks central banks are now tightening. What should you be doing? You should be going up and quality, and you should be reducing worse. No matter what happens as for the rise. In treasury yields this week Krishna Mamani is chief investment officer at Oppenheimer funds. I think it'd be end of the day. It's really about the US. Economic doing much better than what everyone was expecting that. That is the primary driver OPEC and its allies seemed poised for another contentious meeting in ALgeria this weekend as Iran wounded by American sanctions cries betrayal and threatens to veto decisions. Christopher sell covers oil for Bloomberg news. Not the debate over how the agreement in June should be basically the wording who can increase output. What to what extent it, basically? Does it matter not really because Saudi Arabia and Russia have already started increasing production? Pam west Texas intermediate crude ending the week close to seventy one dollars a barrel. As some five hundred index retreating from a record down a point at twenty nine twenty nine down less than one tenth of one percent. The Dow up Eighty-six up three tenths of one percent. Nasdaq down forty-one a drop of five tenths of one percent. Global news twenty four hours a day on air and tick tock on Twitter power by more than twenty seven hundred journalists and analysts in more than. One hundred twenty countries, I'm Charlie Pellett. This is Bloomberg..