Stocks continue flirting with new highs, even as many say the economy continues to slow.
 | THU, SEP 19, 2019 | | | | DOW | | NAME | LAST | CHG | %CHG | | MSFT | 141.07 | +2.55 | +1.84% | | AAPL | 220.96 | -1.81 | -0.81% | | PFE | 36.51 | +0.13 | +0.36% | |
| | S&P 500 | | NAME | LAST | CHG | %CHG | | BAC | 29.82 | -0.18 | -0.60% | | AMD | 30.29 | -0.13 | -0.43% | | MSFT | 141.07 | +2.55 | +1.84% | |
| | NASDAQ | | NAME | LAST | CHG | %CHG | | AMD | 30.29 | -0.13 | -0.43% | | MSFT | 141.07 | +2.55 | +1.84% | | AAPL | 220.96 | -1.81 | -0.81% | |
| |
Hold these two seemingly contradictory ideas in your head: 1) The stock market is mere points away from hitting new highs. 2) The economy is slowing and could even be headed for a recession before the 2020 election.
"The big elephant in the room is the trade war with China and how it will resolve itself, " said Pimco CEO Emmanuel Roman.
Speaking at the Delivering Alpha conference presented by CNBC and Institutional Investor on Thursday, Emmanuel said Pimco expects the economy will slow to just a little over 1% in the first half of next year. A similar chorus has hung over the market for much of the year, yet the stock market has reached ever higher.
On Thursday, the stocks reached again for new highs, but fell short as the trading day wore on.  A shifting political climate could end the bull run, according to legendary hedge fund manager Leon Cooperman, who was also featured at the conference "There's unquestionably a shift to the left in this country," he said. "They won't open the stock market if Elizabeth Warren is the next president." He was being prosaic when he said this, but he was serious later in the day in predicting a bear market if Warren wins. Nevertheless, Cooperman also took aim at President Donald Trump. "The weakness in the economy, in my opinion, is directly attributable to the president's dialogue on tariffs," he said. "What we do with China, I understand makes sense. But threatening Mexico, threatening Canada, threatening Europe makes no sense."
Enjoying the CNBC Evening Brief newsletter? Tell us how we're doing and what we can do better by filling out this simple survey. |
Tidak ada komentar:
Posting Komentar