24 Burst results for "Fargo Investment Institute"
We need to change our economic indicators to keep up with the crisis
"Know once you get past the scale of the job losses with the latest numbers on first time claims for unemployment. They came out this morning putting the total at just under twenty seven million people who've lost their jobs once you get past that scale it is the speed. That's amazing. Twenty seven million jobs vaporized in five weeks which poses a challenge for those of us who observe analyze this economy accustomed as we are to quarterly and monthly data. Being good enough. So economists are getting creative. Marketplace's refinish war gets is going. The great recession played out gradually over eighteen months. What's happening today's instead of playing out of a months and years playing out of days and weeks. Justin Wolfer is a professor of economics at University of Michigan our friends. Gdp and the unemployment rate are reported once a month once a quarter but we need is economic indicators. To tell us what's happening today. Andrew Chamberlain is chief economist at glass door. He says luckily we live in an age of data. We have really different ways of measuring the economy today than we have a decade ago tech platform social media specialized firms have all kinds of useful real time. Data take for example would job search platforms can tell us you've got Twenty million unemployed Americans. You Might WanNa know whether they are all expecting to go back to work or not You might want to know if they're out there searching for jobs or not. The Federal Reserve looks at data from credit card processors to know how people are spending and payroll processing from. Adp to track jobs. Both of those come out. Weekly Ben Hur's on is an economist with IHS market the TSA started making available The public passenger traffic At airports on a daily basis in real time. And so we could see that passenger traffic at us. Airports had fallen like ninety five percent by the end of March. Weekly chain store sales. Tell us about spending electricity. Use can be a proxy for economic output. As for what exactly it's all telling US Gary Schlossberg is global market strategist with the wells. Fargo Investment Institute. They still show the economy continuing to decline. But there are a couple which are beginning to bottom out a little bit you know. There's some hope straws in that the economy is still weakening but approaching about whatever the indicator once you hit bottom. There's nowhere to go but up
What's causing volatility in the stock market?
"Here is what I would like you to do today as we get going unfocused your eyes if you would figuratively of course like you do when you drop something or your pattern rug and how that can help you find what you're looking for. Do the same for me now. With the admittedly nutty stock market gyrations the past couple of weeks ups and downs of three or four five percent or more focused not on the actual movements but on the underlying phenomenon the volatility marketplace's got tongue explains why it's happening and what it tells us by one. Measure stocks have not been this volatile since the financial crisis a decade ago. Surely it's the fear of Corona virus but for traders addicted data. There's not enough of it. How long will the outbreak last are the Chinese factories back? How was hit company? Earnings at Charles Schwab one of our underwriters. Strategist Liz end. Sandra says many companies have gone silence. They're just saying we're not even giving guidance because we have no idea what is going to happen so in terms of how Wall Street kind of prices stocks and markets analysts. You know have their hands in the air. Then there's election year uncertainty as the market swings based on which candidate is up the moment now when markets struggled to predict the future. Which is their job. They gyrate according to George Perks. Bespoke investment group. He says it can go like this. When investors sell and expect the worst a little ray of hope can change everything if every piece of news is bad for awhile. Expectations come down and so now that expectations are down. It doesn't take much good news for everything flip in reverse often. It's consumer stocks doing the Bungee up and down. That's because consumption is the big unknown now says Scott Wren at the Wells Fargo Investment Institute. What are it's apparel devices online? Entertainment streaming if consumers are more willing to spend money on that because they're less fearful of catching the virus Then those who tended to do better mud finding specific causes of volatility only gets a so far. The market's a big complicated place. Study suggests long periods of calm somehow lead to volatility in the markets bounce up and down the more. They get driven by emotion. I'm Scott Tong for
Worries of longer, costlier US-China trade war hits markets
"It could be another ten stay for investors as the US and China Diggin for what's looking like an extended trade war the stock market took a sharp dive yesterday after China allowed its currency to fall to its lowest levels in eleven years the trump administration responded last night by formally labeling China a currency manipulator here's NPR Scott Horsley Monday's selloff was the worst the Wall Street as seen all year the Dow Jones industrial average tumbled seven hundred sixty seven points or two point nine percent the S. and P. five hundred was also down about three percent and the nasdaq was down nearly three and a half percent by labeling China a currency manipulator treasury secretary Stephen the notion is vowing to work with the International Monetary Fund to combat what the administration calls China's unfair trading advantage Jack album of crescent capital says what really spooked investors more than China's currency move is the signal that both sides in the trade war are bracing for a long battle faster who had anticipated that president xi and president trump would shake hands and reach some kind of agreement by year Randy this probably scratching that scenario off there blackboard trade battles and the resulting uncertainty have already taken a toll on the U. S. manufacturing sector and there are signs the much larger services side of the economy is slowing down as well that's one reason the federal reserve cut interest rates last week but investors many of whom wanted a pledge of additional rate cuts were not reassured Monday's losses compounded last week stocks lied when the major indexes fell two and a half to three percent Paul Christopher who heads global market strategy for the Wells Fargo investment institute does not believe a recession is imminent consumer spending and corporate profits are still pretty healthy still Christopher says investors should buckle up for what could be a bumpy ride there's no reason to panic here earnings growth is still positive what you are going to have good days and bad days where the fed and greater concern yesterday was one of the bad days so investors are likely to be a little on edge when
US officially labels China a 'currency manipulator'
"It could be another ten stay for investors as the US and China Diggin for what's looking like an extended trade war the stock market took a sharp dive yesterday after China allowed its currency to fall to its lowest levels in eleven years the trump administration responded last night by formally labeling China a currency manipulator here's NPR Scott Horsley Monday's selloff was the worst the Wall Street is seen all year the Dow Jones industrial average tumbled seven hundred sixty seven points or two point nine percent the S. and P. five hundred was also down about three percent and the nasdaq was down nearly three and a half percent by labeling China a currency manipulator treasury secretary Stephen the notion is vowing to work with the International Monetary Fund to combat what the administration calls China's unfair trading advantage Jack album of crescent capital says what really spooked investors more than China's currency move is the signal that both sides in the trade war are bracing for a long battle faster who had anticipated that president xi and president trump would shake hands and reach some kind of agreement by year Randy this probably scratching that scenario off there blackboard trade battles and the resulting uncertainty have already taken a toll on the U. S. manufacturing sector and there are signs the much larger services side the economy is slowing down as well that's one reason the federal reserve cut interest rates last week but investors many of whom wanted a pledge of additional rate cuts were not reassured Monday's losses compounded last week stocks lied when the major indexes fell two and a half to three percent Paul Christopher who heads global market strategy for the Wells Fargo investment institute does not believe a recession is imminent consumer spending and corporate profits are still pretty healthy still Christopher says investors should buckle up for what could be a bumpy ride there's no reason to panic year earnings growth is still positive what you are going to have good days and bad days where the fed and greater concern yesterday was one of the bad days so investors are likely to be a little on edge when the market reopens this
Wells Fargo, Scott And Twenty Nine Hundred Dollars discussed on Bloomberg Finance
"Stock investors have been an -ticipant in a breakthrough in traits, as Scott. Senior global equity strategist at Wells Fargo investment institute. But don't think he'd be seeing the some five hundred trade up over twenty nine hundred dollars are twenty nine hundred if the market was not pricing in some trade negotiation positives. He s and p five hundred was last quoted at twenty nine forty one investors will be watching for any movement with the trade truce and stocks could decline. Some analysts say if investors who've been pressing in a trade truce sell on the
"fargo investment institute" Discussed on 10 10 WINS
"It's a free can't we'll serve about five hundred campers this summer and they're hoping to double that next year. These are kiddos whose. Parents couldn't quite afford to send them to a summer camp. The mission is, of course, create an alternative to joining gangs, as you know, junior was killed by gang members. Some of whom have already been convicted others yet. Waiting to go to trial, Cam, Jillian, we'll focus on social and emotional learning and provide fun out during gauge meant for the kids. Governor Cuomo authorized the use of forty seven acres of that par as for the fresh air fund to operate. Cam junior Cuomo, giving two million dollars to pay for the Cavs long-term needs and the state assembly put up another one million dollars per year for the next three years to help fund it. It's a good thing. Looking at accuweather's roll. Call now. Eighty four degrees right now in Allendale bay ridge. We see you eighty-five Secaucus showing Eighty-three outside Studio B here. We're hanging on Eighty-three as low going down to seventy four tonight. We'll have a complete AccuWeather forecast for you coming up in just a few minutes with us wins news time, eight twenty six and Bloomberg money. Watch on ten ten wins here is Jeff Bellinger. Stocks advanced in cautious trading ahead of President Trump's trade meeting with China. As president. She the key index has had advances ranging from three tenths to six tenths percent. The Dow Jones industrials rose seventy three points. The NASDAQ gained thirty eight the S and P five hundred closed seventeen points higher the SNP gained nearly seven percent for the month. June Scott ran of the Wells Fargo investment institute, says there is a lot of optimism about this weekend talks. I don't think he'd be seeing the S and P five hundred trade up over twenty nine hundred if the market was not pricing, and some trade negotiation positives, consumer sentiment ease this month after hitting an eight month high in may the university of Michigan sentiment index fell nearly two points in June. Bloomberg reports quest nutrition may put itself up for sale. Sources say the protein bar maker is working with financial advisers to seek offers. The crude.
"fargo investment institute" Discussed on Marketplace with Kai Ryssdal
"And in theory that will need special high-tech goods, the US is is targeting because China has these plans to specialize in these high tech goods, and and the US doesn't like that. The second bucket is on around two hundred billion dollars worth of imports from China that the tariffs are lower that ten percent. And it's this bucket that the president has just threatened to increase the tar. So to raise that tar from ten percent twenty five percent, and he's also talking. So this is about half of what we import from the Chinese. He's also talking about tariffing another three hundred billion dollars worth of stuff. In other words, almost everything that we import pretty much. Yeah. And I think that sounds alarming, and it is it's a lot of stuff. One thing to say is that it's it's unlikely that those types could happen overnight, and that there's some chance that maybe they'll reach a deal before that actually goes into effect ver- quick follow on question. And then. I'll let you go before we get to four down in the weeds on this stuff. And it goes like this the president has been unpredictable to be charitable with his trade policy. Pronouncements the market clearly after an early morning freak out about this has decided maybe it's not so bad. What do you believe based on your reporting? The odds are that this actually happens on Friday. The thing. I was really watching today was whether the Chinese delegation was going to to come on Wednesday. It now looks like they all going to come in which case that will be around round of negotiations. And it is I think still fairly likely that there is some agreement by the end of the week that said predicting what the president is going to do is is a fool's errand. And so I could well be wrong gains. She's the US economics editor at the economist. Thanks a lot. Really? Appreciate it. Thanks so much. Having me Wall Street as I alluded to pretty much took the president's threats in stride. At least by the close in China. There was no striding. The Shanghai composite index was off more than five percent day, the UN the Chinese currency got clobbered, and as a result as marketplace's Scott Tong reports of all of this Chinese tariffs stuff. Chinese leaders find themselves in a tough position in China. The terror threat from Washington came on the hundred. Anniversary of foreigners pushing China around the nineteen nineteen treaty of verse. I granted the Japanese control over a chunk of Chinese territory. Bad time for president Xi Jinping to look weak before a home crowd. Susan shirk has the twenty-first century China center at UC San Diego that trick for Xi Jinping is to make these bulbs. Structural changes. Without looking like, he's just caving in President Trump has made that very hard for him. It's a delicate moment for China. The economy has slowed in recent years, and trade war made it worse today. Central bankers in Beijing made it easier to borrow to offset the tariff threat analyst, Peter Doni, Sanni what the Wells Fargo investment institute says in this two way, trade war tariffs hurt, China more. So that does naturally make China more exposed to anything that would reduce the amount of trade or exports than the US economy. Still Chinese leaders have something going for them. A rising nationalism in anti-trump sentiment. Says Cheung Lee at the Brookings Institution. Cami some media in two thousand seventeen a quite positive about Donald Trump. But have now the public opinion's not to change the dollar think President Donald Trump is greedy or even cleaning a trending post in Chinese social media blends an image of Trump with Thanos the avengers movie super villain on a day. When trade news was censored and Chinese official media..
"fargo investment institute" Discussed on Bloomberg Radio New York
"The census. Global news twenty four hours a day on air and tick tock on Twitter. I'm Bob moon. Thank you. Bob CBS has suspended its search for a new CEO. It says acting CEO Joseph has agreed to stay on through the end of the US. Stocks closed at records. Thanks to better than forecast, earnings Donner strengthened treasury yields dipped George Rusnak is co head of global fixed income at Wells Fargo investment institute at that. We've seen a fair amount going to fixed income going to the equity markets. We like them here. We just think you've had a great run pull back just a little bit, right? Both in the equity market from an asset allocation perspective, just slightly. Well, I think there's some pretty good opportunities actually get a little bit more neutral on yield curve, right here and Jose Rasco is senior investment strategist at HSBC investments USA and improving Konami after one is going to be week. We think one point six percent for average about two and a quarter of the rest of the year. And then earnings have to improve as for the broader market backdrop, Barry James is CEO of James capital lines. He was our guest on daybreak Asia. Tax cuts of the magnitude that we had last year the last four years and years and years it from an earning standpoint, it may not seem so this year. But generally speaking the economy does very well for the following three to five years and break Asia kicks off twenty nine minutes from now Texas Instruments delivered an upbeat forecast for second quarter sales and profit bolstering optimism that the electronics industry is starting to emerge from a slide in demand snap reported first-quarter results that exceeded already high expectations. The Dow higher s&p NASDAQ also advancing both at records S and P five hundred index up twenty five points a gain of nine tenths of one percent. Nasdaq one hundred five up one point three percent also a record Dow Jones industrial average of one hundred forty five points up six tenths of one percent. I'm Charlie Pellett. That's a Bloomberg business flash. Bloomberg best with June Grasso. And Ed Baxter continues. Broadcasting.
"fargo investment institute" Discussed on Bloomberg Radio New York
"I'm Evan Haning. I'm susanna. Palmer from Bloomberg world headquarters. Investors have been heading for safety in the bond market after speculation. The next move by the Federal Reserve might be an interest rate cut and this month's version of the three month and ten year yield curves. Too far too fast says George Rusnak with the Wells Fargo investment institute right now, it's fifty percent expectation that they're going to do to cut by your end think that's far for us. So yes, long-term rates are coming down. But short term they might have gone down a little bit too far. The buying has driven. The yield on the ten year note down to two point four zero percent, Bloomberg has learned a PSA group and Chrysler automobiles are exploring a partnership to share investments to build cars in Europe. The to have been holding preliminary discussions to collaborate on a super platform, the basic beginnings of a car model this reduce their investment costs in the super competitive region. This week in the UK the house of Commons failed yet again to agree on how to leave the European Union on Monday, UK's, parliament takes up votes on Brexit proposals. As members seek a compromise to break the impasse conservative member of parliament. Andrea let's end believes in both the divorce from the EU and in British Prime Minister Theresa May's ability to come up with a workable solution. I think what we have to do is to make sure that we deliver on the will of the people at the referendum. We have to keep trying. That's what people voted for. And I'm quite sure that that's what the prime minister continues to be determined to deliver. Make is sick. And so the Rolling Stones have postponed their upcoming tour of the US and Canada. His after Mick Jagger was advised by doctors that he requires treatment for a medical issue and can't hit the road. Just now the medical issue was not named global news twenty four hours a day on air and at ticked tock on Twitter, powered by more than twenty seven hundred journalists and analysts in more than one hundred twenty countries. I'm Susanna Palmer. This is Bloomberg..
"fargo investment institute" Discussed on WBBM Newsradio
"Revenue expectations. We'll cover that in our next segment. But right now, a key report on American manufacturing. Lease today's data while concern over trade with China isn't going away joining us on the international autos Orland park. Business line is Paul Christopher head of global market strategy. Wells Fargo investment institute based in Saint Louis. Paul welcome back to the program. It's kind of a one two punch for the markets today. We'll talk about the woes at apple in our next segment. But let's go in-depth now on this report. What's today? Yeah. Thanks, rob. So this it was as as you put it a one two punch with apple slowing its earnings estimates revenue estimates going forward. And then the overall US manufacturing surveys is a monthly survey of purchasing managers at US manufacturing firms. It's still showing expansion in the economy. Six months ahead but much slower than previously on it's the third straight decline in that or slow down. I should say in that particular index and interesting to note fifty percent of the purchasing managers who responded to the survey indicated the US tariffs are concerned for them. So that's that's a priestly an issue for the economy as a manufacturing firms find themselves in difficulties because of the tariffs not just here. But also the tariffs in China. So we think that puts more pressure on the US on the president and on the Chinese to really get something out of these negotiations that are going to be. Starting up this month, pending either a change in the White House or a change of mind on the part of President Trump. It doesn't sound like he would back off of his promise to renegotiate. Tariff in trade agreements with other countries because that's what got him into the White House. So is there some way for the manufacturing sector to navigate its way through these rocky waters or are they accepting? The fact that tariffs are here and tariffs could potentially harm their business. Well, not really the the manufacturing firms are kind of hamstrung right now because it's very important for them to find out. And no one really knows yet. Whether these terrorists will be long-term on for a long time or wilder negotiations allow the tariffs come off relatively quickly. If quickly are relatively quickly, then those disruptions can be dealt with by using work around you go to another firm, you go to another country. Are you make do with existing inventory, those sorts of adjustments? But if it's going to be more permanent, then it's a real disruption to US manufacturing. And that's what everyone is waiting to find out in these negotiations upcoming the stock market's verdict is that serious and they want both countries to do. So. Something about it. She'd companies that do business in China be worried right now. They've been worried for the last seven or eight months, Chris what what probably is cheering them. A little bit is is the idea that gee, the market doesn't stock market doesn't like these tariffs and what what's happening with the economy because of them and the economy itself is slowing down just because organically inherently the economy has is going to have a slower year that in two thousand eighteen after that the big hike or the big the big benefit from the tax reform twenty seventeen. So you got a little bit of slowing going on. You've got the worries about the tariffs that puts more pressure in the manufacturers minds. It puts more pressure on the governments our respective governments to come to some kind of a deal and to do relatively soon. Is there a place where investors can go right now? We're hearing about oh, you'll be a recession in a year. And then we got these problems with China. Is there some place that you could trade on? Yeah. Yeah. I wouldn't want to be a traitor here because of the markets are just too unstable. They're very volatile. You could make a bet on on a particular sector company one day, and then the next day, it'll it'll undercut you'll be a disappointment to you. If you're going to be an investor here. The best thing to do is to be take a longer term view. We do expect the trade will come to a deal relatively soon the more pressure. Now, the more likely a deal, and we do think the economy will continue to grow here and overseas throughout this year. So if people can be patient in other words, take the cash that you have to work in the market in in sectors that we like we like tech. We like industrials we like financials we like healthcare pick and choose among those four and put a little bit of money to work each quarter. And we think that over time you'll be rewarded because the prices are quite attractive at this point in time. And as long as the economy continues to grow we think you'll eventually be rewarded. Thank you very much fall. Christopher ahead of global market strategy. Wells Fargo investment institute based in Saint Louis coming up apple is our story stock of the day..
"fargo investment institute" Discussed on Marketplace with Kai Ryssdal
"Two thousand nineteen the dollar the greenback did pretty well against most other major currencies last year, but a lot of foreign exchange. Analysts are predicting a weaker dollar is on the way. Marketplace's Tracey Samuelson explains why the dollar might weaken, and what that might mean for American companies and consumers before we forget our old acquaintance twenty eighteen a quick look back. US economic growth was strong. Investors knew the Federal Reserve would continue raising interest rates widening the gap between interest rates in the US and the rest of the world. Scott ran is an equity strategist at the Wells Fargo investment institute, he says in two thousand nineteen the Fed's going to be not doing much Warren terms of of rate hikes while the rest of the world hasn't really started. Yet. Those higher rates money tends to flow to a higher rate type of an environment. As says, it's like that hockey metaphor investors want to go where the puck is heading not where it is now, which means the US dollar will that's much sink, but drift l-. Lower in two thousand nineteen not everyone agrees Seve Hanky is a professor of applied economics at Johns Hopkins. He thinks the dollar will hold steady maybe even climb and that's because. Game. When you look at exchange rates and relative to Europe, the United States will look strong, relative to other countries to like, China, Brian Nick investment strategist at Nubian says the strong dollar has been good for US consumers who buy things with their dollars on the flip side of your business. And you're trying to sell overseas is stronger dollar is not your friend because when you're counting those profits back into dollars from whatever currency, you earn them in. They're worth less to you. So those companies will benefit from a slightly weaker US dollar Nick says on net. So we'll global economy a weaker dollar also benefits foreign countries and companies that have borrowed in dollars. I'm Tracey Samuelson for marketplace approach. We didn't plan it this way. Oh that we had. But after the close on Wall Street this afternoon apple announced it's cutting its earnings forecast for its most recent quarter, the one that ended in December. And here is what I'm telling you this first of all in line with Tracy story about the strong dollar apple. Said this. We knew the strong dollar would create foreign exchange headwinds and forecasted this would reduce our revenue growth, and of quote, which it has also to Scott story about China and its slowdown. Apple said this most of our revenue shortfall to our guidance and over one hundred percent of our year over year worldwide revenue decline occurred in greater China across iphone MAC and ipad end of quote, it's kind of wild right? We tell you about stuff, and there it is happening in real life on Wall Street today as I said, my favorite five syllable word vol till it t-. We'll have the details when we do the numbers. Lest you thought we've forgotten there is number five on the economic watchlist for this year. And it's spelled B R E X I T Prime Minister Theresa may has until January the fourteenth convinced parliament it should approve the deal. She made to take her country out of the European Union. The problem for MS as the most parliament hates that deal. But she does have not so secret weapon, which is that of parliament doesn't approve her plan. The default position is the Britain might leave the EU come the end of March without any deal at all. And as marketplace's Stephen beard reports that is unsettling a whole lot of Brits. The pulse of Dover on the southeast coast of Britain ten thousand trucks a day pass through hit to and from continental Europe without a trade deal by March the twenty ninth. Most of this traffic would have to be checked and nightmares as John James who runs the polls largest freight handling company stock cargo having a no Brexit in stopping on the twenty twenty ninth will be omega frost ham, opponents of Brexit of long wound of gridlock at the ports with massive delays. And Brexit is of long dismissed that as project fear is not project fit. It will become reality on that frightens all of us, including the UK government. It's put.
Consumer companies try price hikes as U.S. wages climb
"And a half years. Not a huge surprise, right? Unemployment is crazy. Low companies are complaining to anybody. Who will listen about how hard it is to find qualified workers and tight labor markets can lead to higher wages, but you know, what higher wages can lead to higher prices. And you know, who might have something to say about that. Well, the fed that's marketplace's Mitchell Hartman has promised has that one anything that raises employer's costs to make things or provide services can push up the prices. They charge consumers, for instance, higher fuel prices or tariffs or workers wages and Josh Gibbons at the Economic Policy Institute says today's jobs report shows that employers are grappling with higher labor costs were starting to finally see. The flywheel engage for wage increases. I've been surprised like everyone else that it's taken such a low unemployment rate to get there. Now, keep in mind. The Federal Reserve has a dual mandate to keep unemployment low and inflation in check the fed has already raised interest rates three times this year in part to prevent inflation from getting out of hand as the economy runs. Hot Gary Hoover at the university of Oklahoma worries that rising wages could lead the fed to raise rates higher. Sooner. Why be so quick to hit the button to cool things down that's not necessarily appropriate. At this point given is more catching up as opposed to searching ahead, but there are pitfalls if the fed waits too long to act says Samir Simona at the Wells Fargo investment institute, you risk letting me inflation genie out of the bottle in which case, then we need rate hikes at a much faster pace, which would likely slow the job market and squelch wage gains before. Workers have caught up after years of mediocre raises. I'm Mitchell Hartman for marketplace. It is a fact of
"fargo investment institute" Discussed on Bloomberg Radio New York
"And for more on how the markets are shaping up. Let's turn it over to Brian Cowen looks like another ugly day here. Steve there are a couple of markets that are suggesting gains in the cash markets, but he's really just a modest rebound in this after the huge sell off yesterday the aggressive selling we saw in Shanghai, Hong Kong and Tokyo was a big part of the sell off overnight on Wall Street. If you missed it US stocks down for a fifth day at one point the Dow is off nearly five hundred and fifty points. It ended with a loss of one twenty five that was just a half a percent down S and P five hundred tumbled below the earlier October lows and then rebounded as well. Traders said that they didn't see a lot of selling pressure further selling pressure down there at those levels. And then investors came in and bought NASDAQ got into correction territory of minus ten percent from a recent peak. But then also bounced sharply off the low, the culprits earnings in one part in China any other Caterpillar three m and TI all selling getting sold off on disappointing earnings, in many cases, the results were fine. But the forecasts were week. We'll get you details on those in a moment brazen and McDonald's advanced on pretty strong, earnings safe-haven bids. Gold yen treasuries all rallying yield on the tenure fell more than six basis points at one point. But then eased up now at three point one six percent Steve over here. Okay. Brian. Well, as you just mentioned the downward spiral swept through Wall Street with Caterpillar weighing on US equities. But Scott Wren, senior global equity strategist at Wells Fargo investment institute says US growth will be steady China won't fall apart. Will avoid an all out trade war and the fed. Well, it won't make a mistake. You have to do some research make some assumptions make some calls on those basic concepts to have the confidence to step in here on these pullbacks. And Ryan says now is not the time to be hiding in utilities and consumer Staples. And crude oil slid more than four percent after Saudi Arabia's energy minister said that OPEC and its allies are going to produce as much as they can in that mode, but Andrew sheets chief cross asset strategist at Morgan Stanley says long-term oil is still going higher eve already had a large increase in Saudi production. That's reduced the amount of spare capacity in the market to historically low degree. I think eventually will push oil price up towards ninety five by the middle of next year still sheets and others say that short term demand concerns may continue to weigh on oil prices. Well, she has a Texas Instruments getting slammed right now in late trade. Down about six percent. That's after coming out with a weak earnings outlook, but David Kirkpatrick CEO at take a NAMI says he expects to see strength from tech this quarter. There is nothing holding them back from an economic performance point of view. So I.
"fargo investment institute" Discussed on Bloomberg Radio New York
"Attack on the east of the island. More people are reported missing. President Trump has ruled out any relaxing of sanctions on North Korea. After Seoul said it's considering easing some of its restrictions. The presence said that won't happen without a USA K, adding they do nothing without our approval. So have said it was discussing lifting sanctions imposed on the north after the sinking of a South Korean warship in two thousand and ten and the world's longest flight is black even with oil prices near the highest in four years. Singapore Airlines is reading it. So nonstop service to New York today just pipping Qatar Airways Doha Auckland route. The New York flight will take any eighteen hours and forty five minutes made viable by plane that drink less fuel global news twenty four hours a day on a talk on Twitter, powered by more than twenty seven hundred journalists and analysts in more than one hundred and twenty countries. I'm Leon guarantee. This is Bloomberg markets. Thanks very much. Indeed, leeann now still shudder at the thought of spending was nineteen hours on board a plane. But anyway, let's get on to other matters. The sell off that began in the US yesterday is rippling through Europe, sending Italy, for instance. To a bear market. That said Wall Street traders are reporting little in the way of panic. Daryl cronk is the Wells Fargo investment institute. President and has this take. I would say there's some encouraging signs today. The fact that the euchre steepened is actually a bullish trend on a bearish trend, and the fact that we're heading seasonally into a good period of time for equity returns, both of those probably have some element of maybe creating a by the dip mentality of this latest up. So that was Daryl cronk from Wells Fargo for more on the markets. Let's welcome Bloomberg markets ethics and rates strategist, Richard Jones. Who's with us out of Berlin this morning, Richard? So a lot of folks are heading the sell button, but just like Darrow cronk. You're kind of trying to provide a little bit of perspective. Here you saying that the Swiss franc, for instance, suggests that there's no panic. Good morning, Markus. Yeah. I I think if I look at it sort of the typical havens that we'd see on a big move in Europe. We're seeing German boons are rallying French OAT's around. But it's actually been quite a really orderly move. It's not been a massive move higher and those prices lower in those yields and even the short and the your eyeball strip. I mean, we're getting a little bit of bull flattening. But it's not a massive move. We've seen bigger moves on on when we've seen Marcus locations in the past. And we're not seeing that today. And I think as you say in the FX world, I would think if investors were really worried if there was a real panic underway. We'd see this was Frank rallying sharply, and it's really not moving very much this morning. It's all taking it's taking all of this equity turbulence in stride. So I'd say in my world and in the interest rate in foreign exchange world. This is really not a big deal, so far it's more of an equity story, and that's the market that again and get more than an FX. And right. There's no doubt about Richard. Give mornings malice. It's interesting that Goldman Sachs having no tight this morning where they said on season equity market, you need see interest rates at four percent. I had one guest this morning and Dubai love this. He said the federal hell bent on raising rates. Do you agree with that? I'm not sure. So sure I'd go that far. I mean, I was I'm moderated a central Bank panel at at a Bloomberg that we had in Zurich last week. And there is a lot of skepticism amongst the investor community about how far the feds gonna go. I mean, we've seen we've seen the probability of fed interest rate rises sort of recede with all this turbulence over the past twenty four hours. But even last week I mean about three and four of the respondents. I was speaking to that answered. Our polling question said that by the end of next year, the FOMC will at most hike three times. So that I think that includes a hike in December and only two next year and those probabilities have actually come lower the we're gonna. See less hiking. Now, according to what the fed funds stripper saying than we were when this was done last week. So there is skepticism there, I'm not sure that the fed is hell bent on the fed will look at financial conditions. Let's see what this equity selloff. What happened to the sexy sell off of if it deepens than you know, I think the fed might actually start to change turn a little bit. Now earlier this week we've been building up to today's CPI figures out of the United States. I'm just kinda wondering whether this market selloff is going to overshadow any potential effect of those figures. Well, I think you know, the one thing that has been that has been lacking in the in the fed rate hike. Great hiking narrative has been a really strong surge in inflation. I think the the growth numbers are there. I think financial conditions are doing very well equities until this recent Safra, absolutely flying. But we haven't really seen a massive uptick inflation. Now, maybe it's coming, but investors are very skeptical about this. And that's what I think was informing the skepticism that I was talking about earlier is that inflation isn't running away. And so therefore the fed can afford to be a little bit more patient. Okay, richard. Thank you very much ten year government bond yields in the United States of America trade at three point one seven three. We have all the compensations on Bloomberg. We're going to be talking to Standard Chartered the chairman there. Shut his thoughts from Bali with almond weeping that engine.
"fargo investment institute" Discussed on Bloomberg Radio New York
"Yeah. So it's a little of everything you've got some syncretic going on right now. If you look at Turkey or Argentina for broad-based has had such a massive selloff that from some an entry point leading the valuation is really good. And so you contagion we're not seeing. So we do not think the issues there are going to spread to other EM markets, but we do like opportunities. And if you're looking at the areas like Brazil or India or several other merging markets, we do think that the opportunity is good. And the entry point is is very good to come in at right now you're talking about buying stocks of companies in those countries. That's correct. You know, we were talking about hedge funds, and stocks does you that you know, hedge funds really just haven't compared to the performance on the SNP. But I get the sense that you you have a different view. Why do agree it has not compared to the performance of the S and P five hundred but what we like to make sure clients understand if they're not designed to compete with. Yes. And P five hundred and so it's hard to move move clients lens off of that. But when you compare how hedge funds have performed to the rest of equities around the world it held up just fine. And if you look at global equities, for example, and you look year to date global equities are up about three point seven percent S and P five hundred is up about ten point three percent. And then as you look at hedge funds you're talking almost two percent returns. So if he took the the US out of out of that that world equity number you're talking about a flat to negative almost two percent negative or turn out of non US equities that for hedge funds compares very favorable to their return. Which are up almost two percent. So, you know, our message there is understand that hedge funds are global allocations. They're not meant to be specifically competing against the S and P five hundred and if you had them in your portfolio, they would have added value likely over everything else you had in your portfolio except for US equities. What's the what's the number one issue for clients? What's the thing? They always. Pick up on and call you about. Yeah. So there's a lot of things call about. But I'd say the number one thing is the headline of the day. And so as as they're seeing, you know, either tweets or headlines clients one and a half to react. And, you know, our our message is to be patient. Don't react to every headline markets are for long term investors. That's usually how they are thinking about their portfolios. So don't trade on short-term headlines. Let's keep your portfolio allocated to your long term goals. Played Adam thanks so much for joining us to talk about investing and opportunities. That's Adam taback, head of global alternative investments at Wells Fargo investment institute. Well, thanks for having me. I enjoyed being on your show. And that's this week's edition of Bloomberg finance tune it again next week at the same time when we get together for looking funds and.
"fargo investment institute" Discussed on CNBC's Fast Money
"And p. five hundred anyway is is the fed going to make a mistake, which I think's a low probability and then also is global growth going to slow down. Now, our macro economists think we obviously had a stumble here earlier in the year in terms of some global growth, but they're confident that we're going to see a better news as we move into the into the end of the year. So for me, that is a risk. Some of the data has looked pretty dicey in. Here, but based on the research that were doing, I think the market's a little more worried about that than what the actual results going to be. It's got nobody seems to be making a big deal. Emerging-market currencies get crushed, emerging markets down nobody. That's David just said he didn't think it systemic, and that's what makes markets. But what point do emerging market weakness and currency that moves percentage points in a daily basis? When do they matter for US equities? Well, I tell you, I, you know, I think that there's less chance of contagion this time. But I mean, you look at a chart of any emerging market currency index, and it is totally catch the falling knife situation. I mean, it's it's cannot get up. So I think that there's going to continue to be fears about that. We feel pretty good that we're gonna see six and a half percent growth out of China. I think some of this is overdone, but clearly I think that the market is worried about contagion, although we think there's less chance of that this time around. Last time. All right. Thanks for joining us. Get to see what goes. Have good evening Stott ran Wells Fargo investment institute. I read it every dip every dip. Dan, I think the point is you've covered this throughout the year. We have the Dixie where the dollar index at ninety five. Okay. Lot of people didn't think it was going to be here, but if you go back and you look eighteen months ago, it was one hundred, right? But then if you go back eight months ago, it was at ninety, right? So here we are with this dollar that's kind of moved around. It's kind of move higher. It's caused what we've seen some of the trepidation in emerging markets clearly in emerging markets, and that's the issue that people are kind of considering whether it's going to be contagion or not. I look around in the equity world and I see US equities the only major indices that are up on the year. Okay. So this is massive flight to quality. We see it in the dollar right at what point is that? Is that divergence something that's so extrordinary that first of all, you're at a very rare event from probability perspective, and that means either you have to have a correction or the US is next to go. I don't think that the rest of the world can trade straight down and again, European stocks. If you look at the fez which is the of the euro stocks fifty, that's at a Twenty-one relative strength and to get oversold as we've been in months. And again, we're back to these Lowe's from almost two thousand sixteen. So at some point that concerns me Dan and again, I go to the data points because a lot of them are competence in zero competence out there in the worst baking one quick point though, what we saw today is mild guidance out of some semi's if we were to see this, especially when you have FANG pulling back for good reasons because the spending you're going to see twenty five percent of the SNP or excuse me. The tech sector we're going to go flat, really? Gonna kinda just slow down here. So what's the other things celebrate them? If you don't have global growth, expanding to me, that's where you're gonna. Pull back in this coming up since Tesla's CEO. Elon Musk sent this, his faithful funding secure tweet that got the company and how water he hasn't stopped tweeting or blogging or talking is his own worst enemy. Plus it's mall madness. I'm retail names are soaring while others are getting crushed, but don't worry guy here grabbing his favor tote bag sort. Now, those losers in this place. Later, a big point is thinking that's got the whole universe in the frenzy praise about to come to a screeching halt. You're live and the NASDAQ market site in Times Square much more fast money right after this..
"fargo investment institute" Discussed on Marketplace All-in-One
"It's with the world Resources Institute. He says the administration is considering requiring some coal plants to keep running for national security reasons. They're making. A number of different moves to actually attempt to override market forces in order to slow down the phase out of coal fired power in the United States, the as proposals still face a long process before they're approved. Environmental groups have already promised to sue to keep them from taking effect. I'm jed Kim for marketplace. We're going to double back to the end of the program yesterday here for a second that thing I mentioned about President Trump saying he is not thrilled with fed chairman, Jay Powell and raising interest rates. This incumbent like most other presidents, perhaps more actually given his real estate background likes money to be cheap. The wheels for businesses getting greased and all that. And that's the way it's been in this economy for a very long time, low interest rates, but as marketplace's Mitchell Hartman reports, there are some costly downsides to keeping interest rates too low for too long, no matter what the president believes the economy's growth over the last decade has been fueled in large part by cheap money. Thanks to the feds, super low interest. Straight policy. That's just the kind of a Konami. The president as businessman has thrived in says, swarthmore college economist, Mark kuperberg, Donald Trump has the mindset of a real estate developer that you can't have too big a boom, but standard macroeconomics says, no, you could have too big a boom. And that's the risk posed by low interest rates. Going forward says George Rusnak. The Wells Fargo investment institute, the economy running too hot, and that would be negative for everybody, negative consequence. Number one, inflation can pick up. It doesn't matter how fast growing the cost of things grow faster, too easy money allows people to invest more aggressively. It could lead to investment speculation in bubbles like the housing bubble that bursts and brought on the great recession, low interest rates have another downside savings accounts. Don't pay a very good return that hurts retirees, especially and cheap money has also encouraged risky behavior in an entire. Tire generation of working age. Consumers says Bernie bowel mall at the economic outlook group, they don't really mind borrowing money using up their credit card. And in fact, household debt, it's at a record high level I merely because the cost of borrowing has been so cheap almost says, we have to break the cheap money habit so we can be prepared for tougher economic times to come. And he says, the fed needs to raise interest rates now, so it can be ready to lower them. Again, when the next recession rolls around, I'm Mitchell Hartman for marketplace on Wall Street. Today on the eve of marking the longest bull market ever. Traders were bullish, we'll have the details when we do the numbers..
Trump's Chinese tariff announcement leads to huge stock market plunge
"Minute a different kind of march madness in the stock market triggered by tariffs the stock averages lost almost two and a half to three percent with the dow falling seven hundred twenty four points to just short of twenty three nine fifty eight the nasdaq dropped one hundred seventy nine the s and p six thirty eight the dow's big drop has the average on track for its worst march in seventeen years the snp saw its gains for the year disappear investor anxiety about a trade war took off as the trump administration announced fifty billion dollars worth of tariffs on chinese imports investors see a trade war ahead scott wren of the wells fargo investment institute is more optimistic hookers only very low probability of a trade war nike prophets stumbled last quarter on the us corporate tax cut but sales swooshed higher than targets investors like those results nike shares moved higher in post market trading i'm joan doniger bedford is talking about updated all day and all night wbz sm dot com.
"fargo investment institute" Discussed on Bloomberg Radio New York
"Not see an accelerated measure of inflation and i don't understand why that is necessarily bad for individuals or for indeed for businesses that are trying to not go into debt and be able to be sovereign debt in response to this deepening deficit which is expected to expand by one and a half trillion dollars of the next decade do you believe that there's kind of a mis alignment of interest here whereby inflation is judged to be the mover of interest rates when really what it is is that interest rates and the government borrowing is the mover of inflation we're gonna ask that question of somebody who will know better than i torch rusnak co head of global fixed income strategy at wells fargo investment institute really raising the issue of the deepening us deficit and how this factors into borrowing costs and the fed's decision so can you just connect the dots from georgia and thank you very much for.
"fargo investment institute" Discussed on BizTalk Radio
"And none of them will be sensitive to interest rate hikes now there may be a substantial penalty for early withdrawal they there may be some other drawbacks that you need to discuss with your advisor but i do think it makes sense to have alternative safe money investments in a rising interest rate environment okay moving awhile why do i bring this up well the headline today from ryan glass delica on market watch number of fund managers who see the economy in its late cycle was at a 10year high here's what ryan had to say about this the recent turbulence on wall street which pushed the us stock market into its first correction in about two years seems to have soured fund managers on where the economy may be headed i should point out not all fund managers are soured i am not soured but then again i'm not a fund manager however i am someone who watches this stuff pretty carefully and my opinion is if the market goes down so what i get to buy at a discount member we went through the whole buffet routine yesterday buffet loves it he loves when the market goes down because he gets to invest at a discount but remember you must be a longterm investor for that to pay off we move on according to the bfa merrill lynch fund managers survey for february seventy percent of those polled believed the global economy is in its late cycle the highest such reading since check this out january two thousand eight right as the financial crisis began to gather steam the laid part of an economic cycle typically coincides with the market's peak and precedes a decline in jewelry session according to the wells fargo investment institute which an early january suggests that the us economy was poised between the mid and late parts of the business cycle this stages marked by moderate growth tightening credit a peak in confidence higher inflation and an acceleration in the rate of interest rates rising some of these factors appear in the current cycle now i should point out eight not all of the factors and be who cares if you're a long term investor in particular if you have taken some caution in the maturity and the.
"fargo investment institute" Discussed on Bloomberg Radio New York
"You may have heard a couple of long pauses that was the president pausing for a couple of long swings of water run johnson has become the first republican senator to say he opposes the gop tax bill johnson spokesman confirms it after this senator wall street journal the measure helps corporations more than other businesses at least three other republicans have expressed concerns about the bill including the fact that it now includes a repeal of obamacare is individual mandate gop to lose ali free senators and still pass the tax cut measure six house democrats have introduced articles of impeachment against president jean one for firing fbi director james comey others for violating the emoluments clause an underminding and uh jerry illinois luis gutierrez says the president's already neocon ally thea crime and i have a responsibility to down nine one one immediately while i don't call a dry to reach consensus of with all my neighbors fellow democrat steve cohen says more how stem support the impeachment measure but want wanna see trump himself without their how elp global news powered by more than twenty seven hundred journalists and analysts in more than 120 countries nobody can use word from three cynic million for the wells fargo investment institute on how women approaching differently ferry conducted a study how men and women in the front row women are more conservative likely to stick to a longterm investment plan and less likely to make frequent trades hints him here that tell us in a hammer web for them and they think i can do this at you have the qualities that make me echoed investor and his late like this confusion wealth in investment options we called on the wells fargo we deliver on locks for our coins stober yours dot com slash unlock wells foreign investments two wickets registered investment adviser who of wells fargo uncovered twice investment advice to.
"fargo investment institute" Discussed on CNBC's Fast Money
"Is really the type of information you would say gee the fed they might not give us three interest rate hikes in 2018 i think the market's going to be paying to paying attention to what the feds gonna do in 2018 not the rest of the 2017 so i think those two factors a fed that is likely to be easier rather than tighter and a weaker dollar i think that's given us this push here to crawl to these new highs all right scott kelly leave it there had a great weekend do same guys thanks got ran wells fargo investment institute you're not in your head enters the because i mean exactly what scott said unless there's another alternative out there and you think about what the global environment is if you get this slow growth environment and the fed that wants to normalize despite leaked news then you could see a pullback in these bank stocks because they are dependent on a weak dollar lowgrowth environment because they're the only ones with growth so to me that's always been the rest of this market is you see something like rising rates in an environment that rates should not rise that's going to be a problem for these art what other stocks weighed looking after next week obviously huge thirteen dow stocks are reporting a whole host of mcdonald's mcdonald's on a jumped the gun because there's another show on in nineteen mitani a countdown clock we're going to talk about a little mcdonald's but i will say again we've set for quite some time mcdonald's as a 160 hand lauded i think it does the next week in earnings twitter for me is really interesting the pierre begin the fact that stocks ryan i did ties where it's run.
"fargo investment institute" Discussed on USA Today
"Took a usa today for leninist come into your home this conversation you're reckoned can the stock market is one percent shy of last month record high but main street investors are not chasing this market and that might actually be a good thing hi i'm adam shell and this is america's markets totalled new building the unemployment blueprint of despite talk of the nasdaq parting like it's ninety ninety nine and the down s p five hundred hitting fresh highs and bull market well into its seventh year the fact is investors aren't overly bullish they're not behaving or investing in an irrationally exuberant way and they are most certainly not parting like ninety ninety nine that's the take away from scott ran senior global equity strategist at wells fargo investment institute ren says this fall market is different very different normally this lane a bull run and given that the market has tripled since two thousand nine mainstream investors are not not piling into stocks green is gone and many momandpop investors are still under invested in the stock market data from the investment company institute a mutual fund trade group backs up rents claims in the six weeks ended may twenty seven main street investors have been gagging tons of cash out of us funds domestic stock funds have suffered outflows every week in that six weeks ban totalling twenty six billion dollars in contrast bond financing inflows a fourteen billion despite the fact that rate hikes are coming from the federal reserve which will her bond returns maybe investors are too a worried about rising interest rates were term while from europe with china or simply getting burned again so what's next rain says history shows that at the end of bull runs investors always come in and chased the marketing search of gains the fact in investors remain cautious could provide fuel for further stock market gains he said dez hey guys it's came home good for usa today here and i'm in dublin.
"fargo investment institute" Discussed on Bloomberg Radio New York
"Change ranked no they decided against your baby change doug dave officially resigned arson vangere their boss to a two year contract this state end speculation on his future vendors that down the gunners since ninety ninety six he's one three league titles though hasn't won once it's two thousand and four second round results for the french open the to see novak djokovic foresee rafael nadal fifthseeded throughout edge and sixty dominic team all moving on to the third round the twelve see joe will feed sanga ousted in four sets in the women's draw fourthseeded garbey reuss intensive venus williams both advanced the succeed dominica civil cova is eliminated game to the stanley cup finals tonight in pittsburgh defending champion penguins taken on the nashville predators a game to lead after five two three win in game one on monday major league baseball reducing nationals outfielder brice harper's suspension from four games to three games for his role in a benchclearing brawl on sunday harper will begin serving a suspension tonight at the san francisco giants local teams in action a major league baseball bottom of the sixth sitting in cleveland the as leading the needs three two one top of the second in baltimore yankees and orioles are scoreless top the second at city field in new york gets milwaukee three the new york mets nothing other games coming up later tonight boston is at the chicago white sox and as i mentioned earlier washington visits the san francisco giants on dan schwartzman at your bloomberg nbc world sports update david dan thinking coming up here on bloomberg daybreak asia when you look at financial markets in the us they've been well kicking a page out at the teflon don if he will nothing seems to be taking pulling the market down to will be asking tracy mcmillan of wells fargo investment institute why is it whether you pick trades randomly to break even or follow a strategy to beat the market your return will be dragged down by transaction costs the lower your transaction costs the better your results that's why transaction costs are so important when choosing your broker or prime broker trade up to interactive brokers and improve your return today visit b k r dot com slash save more for more information burden elke sympathisers celebrates one hundred years taking a look.