Biden. Last ditch support efforts for both candidates moving at breakneck speeds. And digital gold. Cryptocurrency on demand with rising prices for bitcoin. You can crypto a lot of things, but dont call it currency yet. Rising aftertocks resuscitated hopes for a spending package. The nasdaq had a modest game game. Abigail doolittle is in new york. Abigail another choppy day. We have not had one day this week when we have not had stocks up and down throughout the day. There has not been when they were that has been the case. We have seen a lot of intraday whipsaw. Investors are pretty nervous. Some uncertainty. The s p 500 is up after spending most of the day down. Up about 0. 3 . Two down Sectors Energy and tech. Not surprisingly, tech being weighed on by intel. The stock one of the only indexes on the date of fall. Day to fall. Data center sales missing down 10 year over year. The guidance tepid as well. At the end of the day, it was a choppy week. Investors dealing with lots of uncer
Caroline lets take account to City Private Bank chief economist, stephen whiting. How are you looking across assets at the moment in terms of where you allocate . Not only stocks falling but bonds falling on the same day. Optimism that perhaps yields have fallen too far, too fast. Well, we are a bit underweight global fist income global fixed income. A think this will still be volatile environment. No substitute except for u. S. Hedges,es, some literal not terribly well in the full economic recovery we expect. Underweight fixed income portfolio. There is really no substitute for the safe haven assets. The strategic return estimates have come down. Fortunately, u. S. Yields, when you look at missable bonds coastal eddy good premium to municipal bonds, still at a good premium to the world. They were already priced for crisis. With those, we want to really take them out of portfolios because of valuation issues. Romaine i was looking through your midyear outlook. Because, interesting am w
We are halfway through the trading day from one of the final trading days of the year. Abigail doolittle is with us. We got a huge tax overhaul today, but the market already knew that. Abigail yes indeed. Small declines. We do have the news of the taxcut bill being signed today, put into the law of the land. On this, very small declines. Atestors are looking past it this point, having priced it into some degree already. At gains, not huge gains, but were looking at gains. This is where we are seeing bigger action, some of the alternatives, fiat currencies. Bitcoin, we cannot get away from the bitcoin story. Down 17 . Earlier today at one point come down 30 . Bear market in one day. Tremendous volatility, the worst day since 2013. Bitcoin did come into existence in 2009 as an alternative to Financial Institutions after the financial crisis. Other alternatives to be fiat currencies, gold and silver. Even though the dollar is higher typically you dont see that. Interesting to see all of t
Noticed that you are lying. Every story weve been told for the past three months has been at its core a lie, all of them, from the first day. George floyd was executed by racist cops on the street. Yet when the autopsy became public it showed that George Floyd George floyd had lethal levels of fentanyl in his system among other drugs. Floyd said he couldnt breathe long before police landed on him as he was in fact sitting untouched in the back of a patrol car but the mob wasnt interested in hearing those details, they torched minneapolis. In kenosha, the media told us that bloodthirsty cops walked up and shot jacob blake up as he was breaking up a fight between two women. But thats not what happened. A woman called 91 to say blake was at her home in violation of a restraining order. Blake fought with the responding officers and first cops triton on the full force to subdue him. They tased blake and that didnt work. When they saw him reach for a knife, they shot him. What else were they
Prosecutors have instead charge the gunman with a endangerment and assault. Endangerment and assault for trying to assassinate police officers. Thats a very light charge, even nonlawyers can tell that, why . T why did they charge him with that . You know why. Authorities weree afraid of provoking more arson and destruction if they gave him what he deserved so they didnt give him what he deservedby because they were intimidated by the mob. They let blm control the Justice System. What are the consequences of allowing that, the consequences are profound and they will last far longer than the writing itself. Normal people dont want to live in places where blm is an charged, streets are blocked of angry nihilists dressed in black, families are threatened for eating at restaurants, wouldbe assassins who shoot the police arent really punished for it. Normal people flee cities like that. When they leave, they take the tax base with them. The effects of a few days of rioting can last for decad