and Nasdaq were each up 48%. However, the Dow was still more than 8% away from its record in February.
Wall Street continues to believe in an economic recovery as states enter various stages of reopening.of the state's coronavirus reopening plan Monday, allowing more businesses to resume operations, including construction, manufacturing and curbside-pickup retail. Money also keeps pouring into stocks on the back of the Federal Reserve's massive monetary stimulus, including open-ended asset buying and near-zero interest rates. The Fed begins its two-day June meeting on Tuesday.
El-Erian said the decision on whether to buy into this market strength depends on a number of factors facing each investor and their tolerance for risk. "I've got to stress, this is a very personal choice. How else are you exposed? Are you structurally exposed to the market? Should you also be tactically exposed to the market?"
Source: News Formal (newsformal.com)
elerianm As realDonaldTrump the American Philosopher said back then 'we are tired of wining'
elerianm He keeps justifying his narrative
elerianm Sorry, but he was bearish since day 1 of Corona. Why should any rational Investor investor to his advice apart from general macro topics? Investors do not listen to economists but should have their own strategy.
elerianm All it takes is for the Fed to end QE, immediately, it should not be doing QE ever.
elerianm not even a shock, we had the biggest shock. The world shut down for awhile, and no biggie for markets
elerianm FED and rich stealing
elerianm This guy knows nothing
elerianm Markets really no longer exist. Since the top 84% of stocks are owned by the top 10% they get bailed out by everyone else too. What a system! Plutocracy is amazing. They always win.
elerianm
elerianm Not again plz
elerianm When I hear talk like this, your promoting gambling vs investing. elerianm
elerianm All it takes is one short algorithm or one glitch and we're back to the stone age. Hope it's tomorrow.
We've entered into a new world: hyper inflation
Technology my friend
He is a pawn of the FED to draw in more short sellers as they inflate they hell out of the markets to grow the wealth gap.
CNBC please put this guy out to pasture. Have Mr. Wonderful join him too.
He’s been betting On Short for a few months .... FYI
He’s been saying this for weeks. Eventually he will be right
You're always uncomfortable. I recommend a high colonic enema to help you out.
Why? Because the government is making up job numbers now and CNBC analysts are acting like chat room pumpers promoting disinformation? What is there to be worried about?
ok bullish cnbc alwas with news for jp, citi
elerianm .senatemajldr & SenateGOP are most likely very pleased to have helped the recovery of the 'markets' but continue to ignore policies that benefits the economy for most Americans. Instead, they focuse on Judges' confirmations SenSchumer SenateDems
Sterph1 elerianm
elerianm Money grows trees 🤣🤣🤣😢
elerianm Nice interview. Mohamed was able to avoid his hopelessly continued losing proposition against the raging Bull Market
elerianm OUR MARKET IS MOST INSANE AMONG DEVELOPED COUNTRIES
elerianm 'Eyeballs' -- anybody remember?
elerianm never ever have to worry when investing in indexes, the law for market gravity 'what goes down will always rebound' we don't really need economic data, earnings meetings etc ,the house will always win now so invest with the house,sorry I mean wit the Fed
elerianm Fed has made it so that any bad event will be taken as reason for more QE so events won’t really matter. New admin, new fed and market will be a market again. Until then all time highs coming and repeating
What an idiot. Just a few weeks ago we did not see the bottom was his words! CNBC should not give him any air time!
Yeh, market is way overbought. Ordinary citizens should sell when its up like rich people do.
elerianm Amazing the naysayers, Even Cramer..all the denial of the strength of economic rebound..Smart people knew this downturn was short term like a storm, not a long recession almost all stocks were cut to 1/3 of Feb '20 highs means get ahead of June rise and buy
elerianm elerianm has been overstating the impact of the virus all along. The fact is the market’s initial reaction was wrong and central banks pulled out everything. It now becomes clear they overdid again and are not willing to reverse anytime soon
elerianm Are you rooting for declines? Sounds like it. We invest to retain and increase our money, not to lose it because someone is trying to manipulate the markets.
CNBC seems to be getting out of touch with the people. Where is Becky Quick?
I am unsure on the economy but the market will always go up. We have a corrupt monopoly in the federalreserve.
The market is way overvalued and will correct itself, with time.
elerianm Prices of US stocks will always go up. Value of US dollars will always go down.
elerianm dangerous historial narrative. And Documented in the twitter diary of mine. This is the answer since March 2009 and where's it leading us? Doesn't matter if a Dem or Republican has been in power.
elerianm How will this effect Richard Burrs prosecution? He technically has lost money by making the trades he made. 🤔
elerianm
I’ve been smacked so many times I’m mentally prepared for anything. There’s a floor beneath, but no ceiling above.
Political bias.
He's been bearish this during the entire rebound and keeps spewing anti-US propaganda from his new perch in the UK:
elerianm Then he will miss out on huge gains by years end!!
DeItaOne This dude hasn't bet on a stock market recovery anyway, not to speak a huge one. Which was a fair position to have. But to make it sound that he only now turned cautious is disingenuous.
elerianm Smart person!
Should be uncomfortable for being dead wrong for the last 3 months, but he certainly is more reliable than the ' short ' KeithMcCullough
This guy is the worst. Wrong in many calls, and shows up on CNBC on days when things are bad to pile on the bad news train - for which he is also usually wrong.
If keep repeating elerianm called the sell off which he was at best late to and avoid mentioning he’s been cautious to bearish for the entire rebound they can continue rolling him out as the ‘expert’he very clearly never was
El Erian has been cautious to outright bearish for the last 5000 Dow Points but now he's betting on a 'continued' recovery,bad news for anyone who may have acted on his prior ramblings every word of which is gets gushed on CNBC,
elerianm “I had long-term concerns for the last few years that because of easy money, too much debt was being built up in the corporate sector,” Druckenmiller added. “When Covid hit, I was pretty much of the view that there was a good chance that the credit bubble had finally burst....”
Has he ever been comfortable with stock market?
Travel stocks surging pre-market: Carnival Cruise +17% Royal Caribbean +9% Norwegian Cruise +14% Delta Airlines +6% American Airlines +7.6%
Respectfully, investor will prefer the fund managers who positioned for this ~50% rebound over the ones who were 'uncomfortable'....it's a performance game
elerianm Mohammed the Fed has the governments back will always pop up the market don’t worry be happy
DeItaOne Same sir, same.
Valuations at record high, these prices were too high by every historical valuation metric prior to Corona. Fools will be left holding bags once again.
He has been bearish for a long time
He can keep waiting the world has moved on
DeItaOne He never bet on it in the first place.
DeItaOne Great long confirmation
One thing I learned in this crisis: stop watching CNBC.
He's been uncomfortable all the way up. One of many poster children defining a the so called a wall of worry
AMERICA WILL ALWAYS RECOVER WE ARE THE GREATEST NATION IN THE HISTORY OF CIVILIZATION
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