U.S. stocks fell more than one percent on Monday-- their biggest decline in six weeks.
Stock bounced sharply since April 1 on ones driving the market. Kevin Kelly managing partner at recon joins me now Kevin thanks so much for joining me today stocks are down more than 1% across the board. What's driving. But threaten the market is actually and it certainly have conviction that the Fed is going to raise interest rates because that that data that they were so dependent on. Is leading credence to rise in right should happen imminently. Because if we start looking at the ice and on manufacturing that he minute gangbusters 59 point one. As well as you're seeing core CPI human one point 9% and those were before we got those job numbers on Friday which is leading to. We're probably at full employment and wage growth is happening which which does lead to healthy inflation Reitman that's pretty strong. Child support 271000. Dots coming on Friday there. App Patrick had the Alan's saying you know like fox built the outback and straight hike in December and light of all of that all of this that's happening. We Arafat bass is beat by. Investors should really focus on a lot of the names that have done well during this reporting season and what I mean by that is they need to focus on the revenues shall we start to look at. The companies that reported to date we've seen four point 4%. In revenue decline a lot of that has to do with the energy sector but it's also got to be focused on. That beings that beat and raise going forward because we are gonna start going into a stronger dollar environment in a lot of those needs rest in the NASDAQ-100. There of the large cap. Blue chip. Health care names as well as the technology means so we're looking at FaceBook we're looking at Iliad we're looking at Microsoft so those are the names. Where you can seek refuge. You know rising interest rate environment and strong dollar I. Now also happen pretty won't trade data out of China eastern should we be about Eva that. Well the Chinese indeed it should it really lead a lot of concern because we've seen copper come down as well as loyal not necessarily stabilized so. We've seen a lot of the commodities which are used by China as well as the emerging markets. Really. That export numbers overseeing out now. What will we won a c.s starting to see stabilization. Across the board when it comes to commodities as walls are treated as we now know that China is not growing at 7% rate are they going to 5% rate is six and a half percent rate. We don't know we'll be focused on. Stable names here as well as you can look at realistic because they're having stability. In a growing US and fire it. Right there you haven't thanks so much Kevin Kelly every time capsule did you finally done again and that this is borders.