“We’re going to start a bit of a trickle from the Federal Reserve about possible cut in September and maybe one in November.” – 02:04
Peter Tuchman, Senior Floor Trader at TradeMas, joins J.D. Durkin at the New York Stock Exchange to discuss the positive momentum in the major averages, which are all showing gains for the week. We discuss the recent performance of gold, which has reached a two-week high, while oil is experiencing its steepest weekly drop since June.
A significant focus of our conversation is on Apple, which has been in the spotlight due to a busy week for CEO Tim Cook and the President. Apple is leading the “MAG 7” in terms of gains, marking a notable turnaround for the company amid its substantial investment in U.S. manufacturing. Peter touches on NVIDIA, which continues to soar, reaching another all-time high, and the implications of the President’s tariffs on semiconductors, which have spared certain companies committed to domestic production.
Peter emphasizes the importance of understanding market psychology, especially as we navigate through record highs and the fear of a market bubble. The pair explore the various factors contributing to the current market sentiment, including geopolitical tensions and the ongoing trade issues with India. Despite these concerns, Peter notes that investors seem to be actively seeking value, rotating out of underperformers and into stronger stocks.