Yesterday for our eighth weekly episode of Straight Talk, I discuss markets and macro with CNBC Fast Money’s Guy Adami and Sven Henrich aka The Northman Trader, hosted on Sven’s YouTube channel.
We discussed how investors bought the rumor of the reopening and are now selling the news, which has been less than stellar. We also highlighted some technical levels in the S&P 500 (SPX) and debate the change in tune after the early June run-up and the massive reversal on June 8th that now has the SPX down nearly 8%, the Russell 2000 down 10% and bank stocks down 20% since.
We also discussed what might be emerging as an existential crisis for Facebook (FB), what the price action in bank stocks is telling us about the outlook for the economy in the back half of 2020 and 2021.
Lastly, shed some light on the political landscape in the U.S. as we head into the summer where we are likely to be subjected to the most divisive rhetoric we have ever seen in a presidential election.
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