Bill Baruch on the CNBC Halftime Report Thursday October 26th.
TRANSCRIPT
I think there’s some that are making some really great points. And I think the macro is important when we get down granularly with the data. I think the Fed is about to get a gift. We just had GDP today, 4.9%. The Atlanta Fed expected 5.4. So it’s a buy the analysts kind of right in the middle.
But that’s a backward looking number. We’re expecting 2% in quarter four. And not only that, I think culturally we’ve seen an evolution of how money is being spent all summer long, all year long. Corporations are spending money. There’s events. People are going out to happy hours. There’s conferences. There’s a lot of money that’s being spent tied to services and underpinning services.
I think a lot of these experiences travel starts to change as people hunker down for the holidays. Not only to mention, retail sales has been very poor. November and December, each of the last two years as this shift takes place because people aren’t spending money on the holidays like they have, they’re now hunkering down with family. And I think we’ll see slowing growth maybe below 2% in the Fed will really like that.
And that ten year gets to 4%. Start the show. And I know big tech is on everybody’s mind. A central question as to whether the market—
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