So joining me now is Calli cox US investment analyst
for the financial services company, the Torah, which
does offer investing portfolio and trading options at the company
kelly. Thanks so much for coming on the show
. What was driving the market lower today? Yeah
, Well there are a lot of balls in the
air right now. Kristen I mean today it seems
like it was a little bit of nervousness around the
jobs report, which finally enough was a pretty strong
jobs report, especially um, in the lens of
a normal business cycle. But it seems to push
the market into, into freaking out territory around.
You know what that could mean for what the Fed
wants to do. And if the Fed might try
to overextend itself by may be resuming those rate hikes
instead of pausing later this year. So it feels
like we're really stuck in this area between recession and
inflation, you know, where exactly are we and
where exactly should the market be trading right now?
Uh, and investors can't quite figure it out.
So most, most people Kelly of course do expect
more volatility this year. We've seen the market stabilized
a bit these past few weeks. Of course,
last week was a very strong week. The best
week that we had seen in fact, since the
presidential election, the major indexes were up 6% this
week. We kind of have a wash with today's
losses coming after some big games yesterday. What's the
data in the weeks ahead? Especially next week,
Callie that you think could move the stock market one
way or the other. Yeah, Well we're not
going to have a year, like last year where
it's where it's quiet and returns are pretty easy to
come by. I mean it's just not how the
market works but you know, in the days ahead
and investors are gonna be watching a lot of these
may economic data releases like the jobs report to really
gauge where the economy is, especially after the Fed
has embarked on, You know, essentially three great
hikes in the market is priced in about 10 or
11. So we're watching for the C. P
. I. Report on friday. Uh, we
have a Fed meeting coming up a little bit later
this month where Powell is supposed to give us an
update on the economy and how he and his crew
are exactly thinking about policy. Um, you know
, we were pretty encouraged by the services number today
and what we've seen in manufacturing and it's going to
be this interesting tussle between data and commentary. Right
? Because investors are going to have to analyze exactly
all the data coming out, you know, how
good or how bad it is relative to the Feds
expectations. And at the same time you're gonna have
the Fed updating. That's probably on a pretty regular
cadence throughout the summer on thin trading volume as is
so summer is here. But the schedule isn't really
slowing down. I think that's a good point and
of course that Fed decision coming a week and a
half from now. We have seen from the meeting
minutes from the Fed just a week and a half
ago. Um I guess that the Feds saw the
U. S. Labor market is very strong and
certainly I think today's jobs market report would indicate that
as well that is going to add to upward price
pressure in the months ahead as demand does still seem
to be there and supply remains very tight. Do
you anticipate that we could see another half of a
percentage point rate rise from the Fed come september?
You know I think june and I think june and
july are quite locks but september and you know the
days ahead of that this Fed is so data dependant
. And it's really Powell has really stressed that over
the past few meetings. So I think it's really
tough to say that the Fed is gonna you know
straight up hike through the end of the year.
I think even the Fed doesn't know if they're going
to do that. I think it's really gonna depend
on what we see from inflation reports this summer and
from jobs data to be frank. Because Powell has
been very clear about the fact that you know they
want the jobs the jobs market to cool off a
little bit in order to see inflation coming down.
We are seeing that a little bit but we aren't
quite there yet. So um yuri Toros, us
investment analyst kelly. What are your, what is
your clientele asking right now, what your clients want
to know about when it comes to investing in the
stock market. Yeah, lots of questions kristen but
it's basically the question we get most is, you
know, where's the bottom here? And where does
the market go from here? You know, stock
markets and crypto markets because it seems like we've been
in this grind of the sell off for such a
long time and it's several months. So we're reminding
customers that, you know, right now, things
don't feel so normal, but a correction is normal
. You know, we see these Pullbacks, especially
after we've after rallies that we've seen over the past
two years and we're reminding them to just, you
know, remember your goals, remember your time horizon
. If you're a long term investor here, it
may just be a case of, you know,
surviving and not necessarily thriving, but there's an opportunity
there if you want to look for it. So
are, would you recommend? I mean, I
know you're not necessarily advising it. Toro's, um
, clients per se, but of course we do
expect more volatility. Do you think investors should be
looking at trying to get back into the stock market
with the pullback that we've seen. Well, we
all know that stock market, the stock market tends
to go up over time. So it might just
be a waiting game, especially if you have the
time on your side to be able to wait.
You know, for those who don't, and we
say, you know, there's nothing wrong with,
you know, pulling some cash out of the markets
here, especially if you're feeling a little spooked and
you're gonna need that cash for the next few years
. Alright, Calli cox Toros, us, investment
analysts, Callie, thanks so much for coming on
the show.