08-05-2020: Dallas Fed President: U.S. Labor Market Is Weakening
InvestTalk
Hosts Justin Klein & Luke Guerrero, CFA | Wealth Managers and Investment Advisors
4.4 • 1.5K Ratings
🗓️ 5 August 2020
⏱️ 47 minutes
🧾️ Download transcript
Summary
According to the Federal Reserve's Robert Kaplan, the market rebound has been "more muted” than expected, and the unemployment rate this year will likely end higher than previously thought.
Today's Stocks & Topics: Correction, Oil Stabilizing, WFC - Wells Fargo & Co., SHLL - Tortoise Acquisition Corp. Cl A, ZGNX - Zogenix Inc., DXY - U.S. Dollar Index, MNK - Mallinckrodt PLC., CVS - CVS Health Corp., MDU - MDU Resources Group Inc., WMT - Walmart Inc., AAPL - Apple Inc.
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Transcript
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| 0:00.0 | This podcast is produced by KPP Financial, Steve Peasley President, |
| 0:10.3 | 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 Wednesday August 5th, 2020. |
| 0:27.0 | And of course now we're into August and then you know the market keeps marching up. it's kind of scary really. |
| 0:36.4 | But you go with it, you can't, I don't know where the top is, |
| 0:40.4 | no one knows where the top is. |
| 0:41.9 | So don't try to guess the top. |
| 0:44.0 | It's impossible. |
| 0:45.0 | You can't guess the bottom and you can't guess the top. |
| 0:48.0 | So what would drive the market higher? |
| 0:51.0 | Actually, that's going to be one of my talking points today. |
| 0:54.4 | What will the stock market, what will make the stock market go higher? |
| 0:58.5 | And there's two major reasons why it would. |
| 1:02.0 | But don't expect it to go up in a straight line, it won't do that. And it has kind of been going up in a straight line recently, so it will eventually top, do a little retracement, keep going. |
| 1:12.9 | That's just the nature of the market. |
| 1:16.0 | And of course, you know, it's going to be volatile. |
| 1:18.2 | I mean, this is up volatility right now. |
| 1:21.1 | You know, so we are certainly dramatically different than August or year ago. |
| 1:26.3 | I mean, before COVID, things were way different. |
| 1:30.6 | COVID is now threw us into recession. Now we're trying to crawl our way out of the recession, |
| 1:35.0 | you know, a super high unemployment because we did it to ourselves on purpose, |
... |
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