Rieder
  • Still like equities , but we have come a long way pretty quickly
  • Can evolve the portfolio and have a bit less equities at these multiples
  • You can get a lot of yield without going out on the yield curve
  • Thinks the Fed cuts rates at September meeting
  • Personally I think the fed funds rate is priced wrong
  • I would do 50 basis point cut sooner and I would have cut in July
  • I still like tech long-term, sector has terrific free cash flow generation
  • It's worth taking some chips off the table after this big rebound.
  • We're moving in the right direction on inflation

Looking at the US stock market

  • The S&P index is up 78.75 points or 1.47% at 5423.06. Its high price reached 5430.75.
  • The NASDAQ index is up 356.42.12 percent at 17135. Its high price reached 17174

Looking at the S&P sectors, the gains are led by information technology while the laggard and only negative sector is the energy sector.

  • Information Technology (SSINFT): +2.60%
  • Consumer Discretionary (SSCOND): +2.15%
  • Health Care (SSHITH): +1.13%
  • Utilities (SSUTIL): +1.09%
  • Industrials (SSINDU): +0.85%
  • Materials (SSMATR): +1.00%
  • Consumer Staples (SSCONS): +0.26%
  • Real Estate (SSREAS): +0.71%
  • Telecommunication Services (SSTELS): +1.35%
  • Financials (SPF): +0.62%
  • Energy (SPN): -0.94%