“You realize that there are only two countries in the world whose whole GDP is $5 trillion or more. The United States and China.” – 01:06
Peter Tuchman, Senior Floor Trader at TradeMas, joins Remy Blaire to discuss the current state of the stock market as we head into November, a historically strong month for the S&P 500. Peter shares his insights on the market’s impressive performance, with the Dow up 12%, the S&P 500 up over 16%, and the Nasdaq soaring more than 22% year-to-date.
The pair discuss the remarkable milestone of NVIDIA reaching a $5 trillion market cap, a valuation that surpasses the GDP of all but two countries— the United States and China. Peter emphasizes the unexpected strength of the market, noting that despite some concerns about potential pullbacks, earnings reports have been robust, and the S&P and Dow are hitting record highs.
Peter highlights the ongoing interest rate cutting cycle and its historical implications for market growth. He expresses optimism for the S&P 500, suggesting we could see a seven in front of it soon.
Peter also breaks down the economic landscape, including the impact of the government shutdown and the sectors that are performing well. Peter points to luxury retail and travel as areas where consumer spending is likely to thrive, especially with the holiday season approaching.