goes cablooey. i ve been saying the dow will peak somewhere near 17,000 and then it will crash like everyone before to lower lows because this is an artificial recovery. and i have chart that shows the dow peaking at higher highs and lower lows. it s an ominous pattern. no one is paying taken. i say this is the riskiest period in your lifetime to be buying stock. we are near a top between now and maybe august at the latest. jonathan, that seems to indicate we have a summer swoon later on. what do you think? harry says it s the riskiest time. it kind of depends on how old the investors are. yes, i agree. this market has traded to all-time highs. up 30% last year. s&p up 5%. we are going to get a pull back. are we going to get a crash? i don t think so. we will get a natural
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a summer swoon. this year we saw back to back days of triple digit losses in stocks, and what is troubling them? it s getting close to september, and they are saying septaper, and the fed has room to taper. we have weak consumer spending signals, like wall street and macy s, and add to that like cisco, the number one s internet router maker, and that speaks to business spending. all of this hitting confidence at a time when markets are up big for the year. i want to start with you. this market pull back, bond yields at two-year highs, and what should my viewers, what should they make of what happened this week? they should put it in the
welcome back to new day, everyone. it is money time. investors licking their wounds after the worst day on wall street in two months. the dow shedding 225 points after two huge firms released gloomy sales forecasts so who do we go to? christine romans, what is going on, summer slump? a little summer swoon. we ve had one earlier and now getting another one. the bull stumbled. 339 points for the dow in two days. in perspective, you ve got stocks still up big time this year. the dow is up 15% still this year. nasdaq, look at that, and tech stocks have had a stealth run since march that has been very, very good. the s&p 500 up 16 so is this bull market still over? so many are worried about the fed. is the ged going to pull back that historic stimulus, is that going to drive up interest rates and hurt things? yesterday we got newspapers the