Market outlook, Despicable Me 4: Market Domination Overtime

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Nasdaq Composite News

Julie Hyman,Adam Turnquist,Market Trends

US stocks (^DJI, ^IXIC, ^GSPC) close out Monday mixed, but it's not all bad as the S&P 500 and Nasdaq Composite post new record highs and the Dow Jones...

) close out Monday mixed, but it's not all bad as the S&P 500 and Nasdaq Composite post new record highs and the Dow Jones Industrial Average is just barely below its flatline. It's the end of the trading day andLPL Financial chief technical strategist Adam Turnquist comes onto the program to talk why he is being careful on buying the dip, but not encouraging investors to chase the market rally.

Not too much, but just something to put down to see if it happens a few days in a row, then we can have a conversation, tenure t note yield just about break even there on the day, not a lot movement in the bond market.And it's interesting that communication services, another mega cap sector is actually the least positive.

We're seeing a long list of divergences at the bread level and even at the economic level, when you look at some of the ISM services data last week, manufacturing both dipping into contractionary territory.We think we're probably due for a little bit of a pullback here. That wasn't the case last year when we had most of the economy surprise of the upside given the recession call that started 2023.

Technically speaking that you think look more attractive Adam right now, we like communication services.But you also get some of the more defensive qualities and the legacy telecom names that looks attractive. It's gross about 230 million worldwide, which did include 122 million over the domestic holiday weekend as well.

Yes, I was, I was just about to say that, I mean, you have the CEO basically touting how successful this was.But, and normally, when we have strong box office results, overall, we'll see a trickle throughout all of the big box office change.But, but again, it's, we're not totally out of the woods yet.

He would make no changes for people who are in the 40% the lowest 40% of households in terms of earnings there.And let's keep in mind a lot, you know, a lot of, a lot of seniors don't have a mortgage anymore, they own their home outright or they have a very small mortgage payment, they don't have childcare burdens.

And I think that's the point of this plan, which is that if you just do a certain number of things and do them fairly soon, including things that a lot of people are not going to like, you might actually be able to address this problem without having to owe overhaul the entire tax system or have massive tax cuts or tax hikes.We just need politicians who are willing to tackle it, what will be the catalyst that will tip them in the direction of doing that.

 

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