to discuss why he thinks worries about the upcoming US election's market impact are overblown and his market outlook for"Magnificent Seven" stocks.his support for former President Donald Trump, pledging to give away $1 million daily to voters who sign a petition for his pro-Trump political action committee. Yahoo Finance Washington Correspondent) bars on its website, expanding its precious metal offerings.
And so, but when you dig under the hood, um, the real issue with the rally until the, the summer, right, when, when the fed got the green light to ease the market has broadened very nicely.And we actually saw back in July when we had that yen carry trade unwind happen is that they did knock the market down.And I'll give you just an example in the last year of that bull market, the S and P rose more than 20% yet, three quarters of the stocks in the S and P actually declined.
But that or anything else, what do you see going into the end of the year as potential sticking points for equities?I mean, you mentioned earlier that, uh, you know, yields are up 11 basis points today at 4, 18 and they, they do cause little wobbles. And the history is pretty clear that over a two year period from the election to the next midterm election, which often will course correct any kind of lopsided outcome uh during that two year period, the election outcome can and does matter, right?So I'm not saying that that those things don't matter at all, but over a full four year cycle.Democrat Republican sweep gridlock, it makes virtually no difference in the return for the market.
Um, and the question for me is if those stocks, if the market broadens at the expense of the dominant, um, companies that have led the way so far, can that happen in a rising market or does it have to be in a falling market like we saw in 2000 and the last few months show us that it can indeed be in a rising market before we go?
Um and so now there's another Bazooka out of China in terms of at least financial engineering, right?And um and so far the pe ratio of the M on the MS C I China index had rallied three points. But you know, high level we're looking at, you know, revenue of 25.4 billion essentially flat sequentially.So not, not, not, not, not bad that I think that's driven by deliveries that actually were better uh than many thought.So, so they're upping the ante there with, with better revenue, but I'm sorry, better deliveries.We have a big event, need more details on the tech.
And so what we see here in this kind of final stretch in the money race is a formal Harris operation.Elon Musk is just one of a bunch of them who can kind of back him up from the outside to help him out. Now, the company starting to sell bars on its website earlier this month, but one strategist says don't buy platinum on the hype.Uh Thank you for joining us here.
And I have heard that a lot of people are actually uh buying the physical metals at a warehouse store to get the 2% cash back from the credit card.So you're gonna lose all of it and then some, and some transaction fees to sell it because because the warehouse store will not buy your, buy your metal back and, and, and Bob, as I understand it, you do all you manage actually the largest platinum ETF on the market.
Uh Even today, I think we lost a dollar on the price of gold despite the 11 basis point rise that, that Urian was talking about. The other thing that's a big factor here and it underlies all of the metals and all of the extraction industry including oil is that equity investors really are penalizing extraction industries.Uh you have to, you have to um you know, it can, it can be dangerous.Um S and P Global came out with a study just about a month ago and they said the average mine in the US takes 29 years to go from investment decision to getting the first ounce of material out of the ground.
This coming after comments from Dallas fed President Laurie Logan earlier today, Logan, the latest fed official suggests a more gradual pace for cutting rates going forward and that's gonna do it for today's market domination over time.
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