Stocks jumped in early trading Thursday as investors shrugged off fears of higher interest rates. The 10-year yield pulled back from a 4-year high, which caused some investors to push the sell button towards the end of the trading day Wednesday. John Petrides, Managing Director & Portfolio Manager at Point View Wealth Management was with us to give us the good and the bad of the current state of the markets.
Investors aren't too complacent. He said they were in 2017. Volatility over the last 3 weeks has brought everyone back to a "normalized state," according to Petrides. He believes the market is pricing in the possibility of a fourth rate hike, adding to the volatility.
Even in a rising rate environment, Petrides thinks stocks can still rise. He said the markets have been propped up by the Fed, but now stocks will have to growth through strong earnings and demand for their goods and services.
Tesla reported a surprise increase in sales in the third quarter as the electric car maker likely benefited from a rush by consumers to take advantage of a $7,500 credit before it expired on Sept. 30. The company reported Thursday that sales in the three months through September rose 7% compared to the same period a year ago. The gain follows two quarters of steep declines as people turned off by CEO Elon Musk’s foray into right-wing politics avoided buying his company’s cars and even protested at some dealerships. Sales rose to 497,099 vehicles, compared with 462,890 in the same period last year.
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Payoneer CEO John Caplan discusses the implications of $100K H1B visa requirements—and how they could reshape tech talent, hiring, and U.S. competitiveness.
Electronic Arts, the video game maker of “Madden NFL,” “The Sims,” and other popular titles, is being acquired and taken private for about $52.5 billion in what could become the largest-ever buyout funded by private-equity firms.
