06-05-2020: Analyst Opinion: GDP Now Projected To Fall Nearly 53% In The Second Quarter
InvestTalk
Hosts Justin Klein & Luke Guerrero, CFA | Wealth Managers and Investment Advisors
4.4 • 1.5K Ratings
🗓️ 5 June 2020
⏱️ 46 minutes
🧾️ Download transcript
Summary
A continued contraction in manufacturing has been holding back consumption and private investment, two cornerstones of the economy.
Today's Stocks & Topics: Mortgage Rates, Stores Closings, ITW - Illinois Tool Works Inc., GLD - SPDR Gold Shares, GDX - VanEck Vectors Gold Miners ETF, Retirement Portfolio, GMGI - Golden Matrix Group Inc., Over-the-Counter Stocks, UNFI - United Natural Foods Inc., The Economy, COTY - Coty Inc. Cl A, CARR - Carrier Global Corp.
TRIVIA QUESTION: "Can you NAME 3 of the 6 so-called 'basic life principles' that, if practiced, might help you achieve a sound financial future?"
Plus: Key Benchmark Numbers and Market Comments for: Oil, Gasoline, Gold and Treasury Yields.
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Transcript
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| 0:00.0 | This podcast is produced by KPP Financial, Steve Peasley President, |
| 0:10.4 | KPP Financial, Independent Thinking, shared success. |
| 0:15.0 | And now today's podcast. |
| 0:17.0 | Good afternoon everybody and welcome to Invest Talk. It is Friday, June 5th, 2020. |
| 0:27.0 | Well, we've just finished the first trading week of June. You've seen how the market is reacting to the broad |
| 0:35.0 | scope of events. Yes, the civil unrest is a problem, but it looks like jobs are |
| 0:41.4 | coming back. Well, at least some least some jobs I mean it was a huge |
| 0:45.3 | surprise on the jobs report this morning huge surprise they expected to lose |
| 0:49.8 | over 7 million jobs and what happened? We gained 2 million. How can it get I don't |
| 0:55.8 | understand how the experts can get that so wrong because the experts were you |
| 1:00.0 | know they're supposed to be studying this stuff I realize I were in very unprecedented |
| 1:04.2 | times as you know it's kind of crazy out there as far as trying to figure out what things are really happening |
| 1:10.4 | but man that's pretty far off but it was a big surprise on the upside. Big surprise. |
| 1:15.0 | So, and there's still a lot of uncertainty. |
| 1:20.0 | You know, Marcus is going to be very volatile and you as an investor you need |
| 1:23.9 | but prepared for that and we've had a ton of up volatility today broke above all |
| 1:29.2 | kind today that broke this week I mean and today it broke above all resistance |
| 1:34.0 | remember we had a big day Wednesday and I thought that like like a blow-off top to me |
| 1:39.3 | blow-off top means you know everybody gets in because they finally all the bears give up and say, let's get in. |
| 1:46.0 | And so then it followed yesterday with a kind of a mixed down market, which was kind of, you know, usually if it's a blow up top, it would go down. |
| 1:56.5 | And here we had this huge run up again today. |
| 2:00.4 | So should we just give up and be bullish? |
... |
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