- 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%