WBEN NewsRadio 930>Audio & Video on Demand>>Greg Merkle of FSC Securities on Dow's 326 Point

Greg Merkle of FSC Securities on Dow's 326 Point

Feb 3, 2014|

Greg Merkle on the Dow's 326 point drop.

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Automatically Generated Transcript (may not be 100% accurate)

The Dow Jones Industrial Average starting the week with a close up more than 300 points joining us now on the WB and live line. Is Greg Merkel of app SE securities Greg good afternoon. Hey good afternoon Tom how are you I'm doing well Greg where things go wrong today. I think it's the continuation. Of what we've seen. The last few days. Certainly a lot of volatility out their. We did triple. Digit moves the last four sessions they picked up a a big part of it is some we've seen some economic data that's come out worldwide. You know different countries I mean China's ongoing efforts to. To try to you know reduce their leverage we've seen some issues and in Japan and Thailand and Turkey and and it on I think sometimes some traders out there look and maybe they think that two maybe it's time for a little correction here I mean. Certainly the the Nikkei in Japan was up 50% last year there's certainly room for correction and you know the S&P was up 29%. Last year were certainly you know room for correction. It doesn't sound like there may be reason for concern. Well like anything we're we have we are at worst fear you know then we have greens so certainly everybody's gonna be concerned and generally. You know the market goes up 200 we just assume that is what should happen but when it. Certainly drops two or 300 and there's there's concern I I don't. My opinion I don't see it being a Specter a big concern I just see this peeing in near term occupation. I don't think we're gonna have a sustained decline and you know I think we're we're certainly do for a little bit of a correction here especially in US equities and I think it's going to be a pause and in what we have reasonable market now and I think economic fundamentals are gonna continue to prove this year. Are and what you think we will roll. We should be keeping an eye on later on this week. Well we still have the earnings reports coming out. You know mostly most are stronger than ever but I think we still have to watch what's going on abroad. May be we get them off Federal Reserve comments from the newly appointed chairman Janet Yellen. I'm certainly what they're saying the Federal Reserve is saying that. Economic. Fundamentals are improving because they're still continuing to taper. I don't think that what is going out now. We'll continue debt that will continue. That could not taper. My opinion it they'll just continue to do what they're doing I do see continued. You know strong fundamentals going forward. All right Greg thank you very much for joining us. Have a great one bank account you tip.