Yesterday in our sixth weekly episode of Straight Talk, I discuss markets and macro with my good friend Guy Adami and my good virtual friend Sven Henrich aka The Northman Trader, hosted on Sven’s YouTube channel.
In this week’s episode, we discuss the fairly dramatic divergence between the Nasdaq and the S&P 500 on Tuesday and Wednesday and how the re-rotation out of cyclical value back into mega-cap tech might have signaled investor unease with what the market (specifically the Nasdaq) was saying about the pace and the scope of the recovery and the risk of COVID spikes after nearly two weeks of economies re-opening around the country… And Northy came ready with some charts!
We spend a little time discussing the Fed’s statement and Chairman Powell’s press conference and debate what was said vs not said.
Also, we have gotten a lot of great feedback from readers about the segments where we have riffed on topics that are adjacent to markets like income inequality and punditry, and this week we discussed the comments made by two government officials, two stewards of our economy, one supposed to be apolitical, and one an extremely malleable political swamp thing, Fed Chair Powell and NEC Director Larry Kudlow (respectively) on their views on Racism in America. Here is a little hint on whose commentary I side with and what I think of the one who has been on the wrong side of history for most of his adult life:
charlatan – noun
one making usually showy pretenses to knowledge or ability: fraud, faker
I can’t even.https://t.co/dUi6EFnS7a
— Dan Nathan (@RiskReversal) June 11, 2020