Markets have pulled back from their all-time highs (^DJI,^GSPC, ^IXIC), sinking in Friday's trading session. Baird managing director and market strategist...
), sinking in Friday's trading session. Baird managing director and market strategist Michael Antonelli joins Market Domination to discuss the state of the market as investors head further into the second half of the year.
As calls for Biden to drop out of the race from his own party mount, a candidate shift may not impact markets much either, which Antonelli explains,"Markets hate surprises. They don't hate news. They hate surprises, things that completely catch them off guard. The changing of a candidate that people were talking about isn't catching them off guard because we're talking about it right now. So there isn't really a surprise looming.
I ask because some of your colleagues, some of strategists say to them they're looking at certain sentiment indicators and they use words like giddy, Michael sentiment is such a, I wish there was a way to just grasp onto it.And, and, and just really understand how it affects, uh and how to measure it and how it would affect uh where we are in the current cycle.But why is it not giddy?Those aren't just, uh you know, those aren't just kind of, I, I feel good about the world.
But let me say this because I think this is super, super important and we've seen it today with this crowd strike thing.They don't hate news, they hate surprises, things that completely catch them off guard.
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