Have room to run we debate that but first i. C. E. Is that the Federal Reserve is that what its feeling right now . Under pressure it should be under pressure no its not it will come. Between the ecb relaunching open and monetary easing and the president tweets urging the bone heads of the fed to cut rates, does the fed have no choice but to move in that direction, guy. I hope thats not the case. I hope they back in october Jerome Powell when he first started in job he said we are going to do whats right for the United States and for the economy. And i really felt he was on the right track. He was going to raise rates in a systematic way and reduce the Balance Sheet. That was the right thing to do in my opinion. I still think that he did a complete 180. Are they under pressure to do this we talked about it tweeted about it, hottest number in 11 years i dont understand why with inflation rising without question, and with the greatest economy in the history of the republic the president
Procter gamble, at t. I cant help but notice whats happening in the financials, as well. Well get into the down graids. But the financials, pete, kbe down more than 2 right now. Some of these regional names. Im not going to run through every name with you. But if you look at the kbe, it tells the story. Yeah. A lot of these regional names today are down more than 3 . Some as much as 5. And even the big names arent jpmorgan and some are down 1 . If you really look at the xlf, the bigcap financials, you get a nice picture of whats going on. Were still in that same range, scott. For the last month and a half or so, weve been in this range, and now we are pushing towards the lower end of that range. You look at the xlf pushing towards 23. I understand, i think the market right now, the selloff being started with when you look at some of the metals, pushed to the down side. The financials, absolutely, because they have performed extremely well, so there is profittaking. We have earnings tom
Report and low in gasoline. One stock hitting a new low and that is retail. The xrt, that tracks retail, hit a 16 month low. So is the consumer in bigger trouble than we think. Lets get into the money and find out right now. Dan, what do you think . I dont think their in any more trouble than weve thought was going on. And i think this is a great example of fairy tales exposed for what they have been. This is a great point. The xrt was down 3 on a day we saw great jobs report and oil down and it should be great for retail and were not seeing to. So me, i think a lot of it has to do with unwind of goofy stories that have permeated the bull market thesis for a year. And a good job market would incorporate wage growth and we didnt see that. And that is not surprising. Because where we do have weakness in the job sector is areas with the higher wages, like energy, where the job growth in north america has seen and so you are trading off higherpaying jobs for lowerpaying ones and where ther
Lets get right to it on a day that saw a strong jobs report and another low in gasoline. One group of stocks hitting a new low and that is retail. The xrt, that tracks retail, hit a 16month low today. So is the consumer in bigger trouble than we think. Lets get into the money and find out right now. Dan, what do you think . I dont think theyre in any more trouble than weve thought was going on. The u. S. Consumer has not been particularly strong and i think whats going on, and i think this is a great example of fairy tales, bull market exposed for what they have been. This is a great point. The xrt was down 3 on a day we saw this great jobs report here and we saw oil down and it should be great for retailers and were not seeing it. So me, i think a lot of it has to do with the unwind of goofy stories that have permeated the bull market thesis for a year. I think i good jobs report would incorporate wage growth and we didnt see that. And that is not surprising. Because where we do have
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