#PREVIEW: #MAGNIFICENTSEVEN: Excerpt from a conversation with colleague Elizabeth Peek, The Hill, Fox News, re the Mag Seven and the earning week for five of them -- and the narrowness of the bull market since December -- and what happens if one or more
The John Batchelor Show
John Batchelor
4.5 • 2.8K Ratings
🗓️ 30 January 2024
⏱️ 3 minutes
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1929 Wall Street crash.
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| 0:00.0 | Book your ticket to happiness with Sun Express Airlines. This is John Batchelor. I spoke with my colleague Elizabeth Peek of the Hill, Fox News and Fox Business, about the Magnificent |
| 0:25.7 | Seven stocks that dominate the conversation and that are all the rise in the market since |
| 0:31.6 | the beginning of the year. the And as Liz says, this is a narrow market. |
| 0:44.0 | Any miss of the Magnificent Seven is going to cause a... |
| 0:49.0 | Well, let's put it this way, consolidating at lower prices. |
| 0:53.2 | Elizabeth Peaked, the mag seven. |
| 0:55.9 | The nifty of 50, you're dating yourself, John. |
| 0:59.4 | It also didn't turn out well in the dot-com bubble. |
| 1:02.0 | Look, I think this market's too narrow. It's too easy to go into |
| 1:06.4 | those magnificent seven stocks if you want to be invested in equities and that's what people |
| 1:10.5 | have chosen to do. Because again again let's face it the market overall |
| 1:15.3 | the PE on the market overall is higher than its historical average and you know |
| 1:21.5 | earnings have been basically flattish for about six quarters. So it has not been a super duper time for the overall |
| 1:28.3 | Earning power of the market. So either you have to see economic growth really stimulated and begin to come through with earnings |
| 1:35.1 | gains or you're going to have some sell-off because yeah, I mean all of the market gains just |
| 1:41.6 | about have been in those seven stocks so far this year. |
| 1:45.0 | And let's see how the earnings turn out. |
| 1:48.0 | It's just one of those things where boy, oh boy, if they don't hit the targets, John, |
| 1:52.0 | you're going to have some pretty miserable days ahead. |
| 1:55.4 | More of this later. Book your ticket to happiness with Sun Express Airlines. So, Have you ever ever wondered how to say good morning in Italian or what is goodbye in French? |
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