Investors should go up in quality, sell weaker ones: Allianz advisor Mohamed El-Erian
Mohamed El-Erian, Allianz chief economic advisor, joins 'Squawk Box' to discuss the state of the U.S. economy and how investors are watching the stock market.
Stocks fell on Monday, giving back some of the sharp gains from the previous week, as investors continued to weigh the coronavirus outlook.
The Dow Jones Industrial Average slid 450 points, or 1.9%. The S&P 500 fell 1.6% while the Nasdaq Composite pulled back 0.5%.
Caterpillar was the worst-performing stock in the Dow, falling more than 8%. The stock was pushed lower by a downgrade from a Bank of America analyst. Financials and real estate led the S&P 500 lower, with both sectors trading more than 3.5% lower.
“The market is digesting some very savory returns,” said Sam Stovall, chief investment strategist at CFRA Research. “We were up 25% from trough to the most recent peak.”
“While some people might say we’re at the beginning of a new bull market, I think we have to take a wait-and-see attitude,” Stovall said.
The U.S. stock market had one of its biggest weekly gains ever last week. The Dow posted its seventh-best weekly performance, rallying 12.7%. The S&P 500 had its biggest one-week gain since 1974, jumping 12.1%.
Wall Street’s strong weekly gains came in large part because of an apparent improvement in the U.S. coronavirus outlook along with massive stimulus from the Federal Reserve.
For access to live and exclusive video from CNBC subscribe to CNBC PRO:
https://cnb.cx/2JdMwO7
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC
#CNBC
#CNBC TV
Видео Investors should go up in quality, sell weaker ones: Allianz advisor Mohamed El-Erian канала CNBC Television
Stocks fell on Monday, giving back some of the sharp gains from the previous week, as investors continued to weigh the coronavirus outlook.
The Dow Jones Industrial Average slid 450 points, or 1.9%. The S&P 500 fell 1.6% while the Nasdaq Composite pulled back 0.5%.
Caterpillar was the worst-performing stock in the Dow, falling more than 8%. The stock was pushed lower by a downgrade from a Bank of America analyst. Financials and real estate led the S&P 500 lower, with both sectors trading more than 3.5% lower.
“The market is digesting some very savory returns,” said Sam Stovall, chief investment strategist at CFRA Research. “We were up 25% from trough to the most recent peak.”
“While some people might say we’re at the beginning of a new bull market, I think we have to take a wait-and-see attitude,” Stovall said.
The U.S. stock market had one of its biggest weekly gains ever last week. The Dow posted its seventh-best weekly performance, rallying 12.7%. The S&P 500 had its biggest one-week gain since 1974, jumping 12.1%.
Wall Street’s strong weekly gains came in large part because of an apparent improvement in the U.S. coronavirus outlook along with massive stimulus from the Federal Reserve.
For access to live and exclusive video from CNBC subscribe to CNBC PRO:
https://cnb.cx/2JdMwO7
» Subscribe to CNBC TV: https://cnb.cx/SubscribeCNBCtelevision
» Subscribe to CNBC: https://cnb.cx/SubscribeCNBC
» Subscribe to CNBC Classic: https://cnb.cx/SubscribeCNBCclassic
Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.
Connect with CNBC News Online
Get the latest news: http://www.cnbc.com/
Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC
Follow CNBC News on Facebook: https://cnb.cx/LikeCNBC
Follow CNBC News on Twitter: https://cnb.cx/FollowCNBC
Follow CNBC News on Instagram: https://cnb.cx/InstagramCNBC
#CNBC
#CNBC TV
Видео Investors should go up in quality, sell weaker ones: Allianz advisor Mohamed El-Erian канала CNBC Television
Показать
Комментарии отсутствуют
Информация о видео
Другие видео канала
What's Next For The U.S. Economy: Mohamed El-ErianFed action could lead to 'zombie companies': Allianz's Mohamed El-ErianThe market has moved into a de-leveraging cycle: Miller Tabak StrategistEl-Erian: We will have the worst recession since the Great DepressionTech stocks will send the S&P higher through 2021: Kevin O'LearyI would wait to put money to work: Allianz chief economic AdvisorHow The Fed Is Trying To Prevent A Financial CrisisStimulus won't work immediately, there will be layoffs and bankruptcies: Allianz advisorNikola needs to give investors some comfort, and get more customers: AnalystThere's a 'tug-of-war' between fundamentals and policy hopes: El-Erian on marketsWhen Should You Sell Your Stocks? (5 Rules for Selling)How to Buy Stocks at a Discounted Price ? Best way to Buy Expensive Stocks on a Discount.For highly-leveraged companies, bankruptcy is a reality: Formers Saks CEOWarren Buffett: How Many Stocks Should You Own In Your Portfolio?Optimistic that banks will come through on loans: Mark CubanCentral banks are in a lose-lose-lose situation: Allianz's Mohamed El-ErianWhat is a Dividend and are High Yield Dividend Stocks Actually Good?Retail investors should stay on the sidelines for now: Allianz chief economic advisorInsurance Explained - How Do Insurance Companies Make Money and How Do They WorkWhat billionaire Mark Cuban is buying amid the sell-off