) held above its 5,300 benchmark. Hennessy Funds CIO and Portfolio Manager Ryan Kelley and RBC Capital Markets US Economist Michael Reid break down what the Dow Jones record couldwill remain on the company’s board following a shareholder vote
But ge down to Raytheon down RT X down two and a couple others CM I down 4.4 also want to cover meme stocks because that has been, that has captured the imagination of traders and investors.We gave some back today in the last two days.And today closing above 40,000 for the first time ever here with more on the path ahead for investors is Ryan Kelly Hennessy funds Cio and portfolio manager along with RB capital markets, us economist Michael Reed.
Um But in this particular time, I think that um first of all these, this market move we've seen really since last October is more broad based.It's not just large cap tech or working from home stocks that we had three years ago. And those folks that do rely more on credit for their spending um are feeling that pinch of higher rates.
So even those folks who are feeling that pinch from inflation can be pretty confident that they're going to have a job over the course of the next year.You know, since you have talked a little bit about the retirees, I want to bring a sort of a provocative idea that Rick Rieder of Blackrock um talked about in an interview with Bloomberg recently where he said the answer is actually to bring interest rates down in order to bring inflation down.
So things like dining out um you know, uh hotels, travels, uh and, and medical care uh is, is another big one for that particular uh segment. So the interesting part about this portfolio is that you'll find names that probably aren't talked about a lot and probably aren't in a whole lot of other portfolios.Gap, Abercrombie and Fitch and guess uh we, we purchased all those last October, um Abercrombie for instance, is up 100 and 50% since that time.Uh They were trading at fine valuations when we look at them.
But also thinking about what happened with the last CP I report while April was a step in the right direction.Um So we really need to see that trend continue and, and see prints that are closer to 2/10 or even 1/10 on a month, over month basis.Today, we're going to speak to a strategist about the latest moves in the commodity based on the other side.Welcome back to market domination over time.
And uh if we take a look inside our meme stocks, well, we see a lot of green here but you might be surprised to learn who the leader was for the week, not a MC, not cost, not gamestop.And that's simply because Gamestop and A MC and the like a lot of those stocks gave, gave back some of their gains for Monday and Tuesday throughout the week.So we're going to be geared up for the weekend of watching crypto prices here, as I said up 6% over the week.
Is this, you know, is it a story, Mike about industrial demand or is it financial demand or is it both?Um But it, it's known as the devil's metal for a reason because it has a tendency to spike and then go right back down.So it's 11 year high. Stock market goes up sticky, inflation, stock market goes down, inflation goes down and that to me is part of the problem.The polar return for the S and P 500 is around 11%.When the rock beat stocks, you should be aware and I think the rock is gonna continue to beat stocks.
Now, we've seen that in the rest of the world ie Chinese yields are declining and I think it's a matter of time that stock market gives back a little bit allows us yields to go down.Outgoing Boeing Ceo Dave Calhoun will remain on the company's board. So Boeing really having this sky of really red tape also including a pending decision from the justice department that has already said that the company violated deferred prosecution order that was attached to those two fatal crashes in 2018 and 2019.You've got government investigations ongoing.The company and its production also really just its tarnished reputation from all of these aircraft failures.
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