Let's bring in our first guest for the broadcast.
Nancy Daud is private wealth advisor at Ameriprise Financial.
It is really nice to have you here.
Thank you for for having me.
It's good to be here.
So listen to me, you know, we start to prepare the show early in the day.
We think that the tape is going to tell us one story, and it didn't look like it was going to be a very great day on Wall Street, but here we are right after the closing bell, up a full 1%.
What do you see more broadly across these markets, Nancy?
Well, I think it's, it's a very, very, uh, topsy-turvy time.
Obviously everyone has got the jitters because of this war, but I think the most important message that we tell our clients all the time is that you've got to just hang in and, um, this too will pass.
It will pass.
They will, there will be an end.
We just don't know when that end will come, but it will happen.
And I think one of the best examples that we give was last Wednesday when the market shot way up and you know for those people who get jittery and wanna get out.
If you did get out and you missed that one day, it would take almost a decade to recoup that and so the message is stay the course and hang on it will be OK.
I think we see a very nice broad market, um, we're looking for Q1 earnings to have to be pretty strong and um.
We just have to wait and see.
It is very, very unnerving and certainly a lot of uncertainty.
I'll ask you a bit more about earnings in just a bit, but more broadly, can you talk to me about the other top questions that your clients are asking you about?
I'm sure there's no shortage of interest to kind of chase the proverbial shiny thing.
They hear this story, they see that story.
It's all in the backdrop of a lot of.
Uncertainty.
What do they want to know about this market?
I think they want to know that they will be OK, that if, you know, if they're accumulating, that they have the time frame correctly, if they're retirees and they're receiving income, that their next paycheck is going to be solid.
There will be no disruptions in that, you know, it's pretty simplistic.
And um so that's our job really is to make sure that everybody feels comfortable and um the advice is if you are in withdrawal mode you should have at least 3 years' worth of your income sitting in cash or in money markets at this point.
Uh it should not be in this crazy market.
There you go, some news you could use for those of you at home looking for potential.
Portfolio positioning changes.
The importance of earnings season.
You and I happy earnings season, by the way.
Here we are.
We had Goldman Sachs really kick us off today.
We'll get a look under the hood at a lot of the other big banks, the big financial players, names like Netflix and Pepsi, some consumer brands in the days ahead.
How important do you think is this particular earnings season on the backdrop of everything else?
I think it is very important, but it's always about expectations, you know, the expectations that earnings will be very strong, uh, if they come in just slightly short of the very strong markets will react.
Um, so it really is all about expectations unfortunately it's very, very emotional, but everything reverts to the mean within a week or so, uh, after the numbers are evaluated, um, but we do expect, uh, Q1 earnings to, to be very strong.
There's no reason why they shouldn't be.
Any overlooked sectors or parts of the market that you're paying a bit more attention to, you think the average investor might benefit from also paying a bit more attention to?
I think the broader market is looking very nice, you know.
It used to be all about tech stocks, not anymore.
We're very happy about having a More diversified market because it broadens, you know, the outlook we're, we're not relying on a, a handful of stocks to bring us home so to speak, and, uh, so it's very, very good to see that there's a broadening of the market and certainly the AI sector is really leading, um, and, and that's very, very exciting.
I think that once this war is over we are very optimistic about a boom but.
I can't predict that, of course.
Yes, at least on the tech side, it's no longer just those mag 7 stocks doing the heavy lifting.
They still are up there.
They're consolidated.
There'll be a fascinating earnings a few weeks ahead.
Nancy Daud, Private, wealth advisor at Ameriprise Financial, thanks a lot for joining us.
It's really nice to have you for having me.
Please come back on the show anytime.
