Trump picks JD Vance for VP, Big Bank earnings: Market Domination

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President Trump News

Republican National Convention,Julie Hyman,Gautam Mukunda

It's that final trading hour, and stocks (^DJI, ^IXIC, ^GSPC) are still abuzz. Julie Hyman and Josh Lipton walk investors through the last sixty minutes in...

walk investors through the last sixty minutes in Monday's session as markets continue to digest the news of an attempted assassination attempt on former President Trump's life over the weekend.

Um I was on here talking, you know, nine days ago and we were saying, you know, how low can Bitcoin go and now it's actually looking a little bit more optimistic when Apple sort of tends to introduce products.Like so we, we don't see them jump the gun, not generally first to market, but at the same time, and we have a slew of already phones from, from Chinese competitors from Samsung and others that have some of these A I features.

Yes and notably bubbling up from Jan Hay as chief economist at Goldman Sachs who was out with a note today saying if the groundwork is there to cut in September, why not just do it in July?He said, I'm not gonna give any indication on timing.But that does seem that was because he said, I mean, they said base case September.

Let's bring in now, Jeff Bookbinder LP L Financial Chief Equity strategist, Jeff, it is good to see you and a great day to have you on Jeff.Jeff because listen, you heard Julie and I chat in there.Of course, there's terrible events over the weekend, the attempted assassination of former president Trump reports.

In other words, just because you don't necessarily like one candidate or the other is not a reason to pull out of the market because you think there's going to be a pullback. You're very, uh it's very unlikely that you're gonna get declines over any meaningful period of time.Um We're probably gonna get a double digit earnings growth number in the second quarter in the first quarter when, uh I'm sorry, the second quarter when the numbers are all in uh over the next uh five or six weeks.Um We use technical analysis as an important part of our process and the momentum is certainly very, very strong.

So turning to policy, uh your question, what we've said is that we didn't think it would be appropriate to begin to loosen policy until we were more uh we had greater confidence that inflation was moving sustainably down to 2%. So again, it goes back to the economy if the economy grows and we're not worried about recession, stocks could add to gains, uh, after, uh, an initial cut.We've seen cases where, um, the uh initial rate cut was actually the start of an economic decline.You know, we talked a lot about the equity market today uh for fixed income investors who are listening, Jeff though.We don't think that's the right way to think about it.

He an Ohio Senator currently, he did serve in the Marine Corps and then was a venture capitalist as well as a corporate attorney in the past. So you, you could say the odds are higher, uh, than usual that the vice president actually might end up taking the job. I don't see that JD Vance is going to do that well, but he has a meaningful regard but he didn't really have any.Um, and Donald Trump, we don't even know what he is, uh, except the guy who hold the Bible up in the air every now and then.Um So Trump could have cho, there were some women on the list.

We have been following several weeks of intense speculation about President Biden's age whether he would remain the candidate. I think we're, I think we're gonna be right back to, we were assuming Biden is the candidate which he might not be.Well, that'll be just in time for us to have come back from our beach vacations and everybody should go put it out of your mind until then.We'll get more analysis of that selection of JD Vance, former president Trump's running mate.Former president Donald Trump has named Ohio Senator JD Vance as his running mate for the 2024 presidential election.

And the other is that Trump is making a judgment basically based on who has been the most sycophantic towards him.Um And so what I would like, like thing about this is if you think so, so just views that Vance has expressed right in the relatively recent past, um, the is the voting issue that is most likely to have an impact on this election.

The Republican party is the party of financial and corporate elite and it has been since the day it was founded.

 

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