Fed chair Janet Yellen, who testified on Capitol Hill, doesn't want to back track on her plans to hike rates, says Ross Gerber of Gerber Kawasaki Wealth & Investment Management.
Stocks bouncing back after three down days from on markets let's go to Los Angeles and talked to roster ever he's CEO Gerber costs like you while the investment. I fed chair Janet young she's in congress that the thing it's not likely to reverse course on plans to hike interest rates. What's the markets read honored custom. What's up by the markets up today because. You know no matter what she said she can't deny. Global pressures that are pushing our economy down. And so rising interest rates is perilous path for the Fed but I think she doesn't want to backtrack so quickly from what's been saying literally a month ago but markets and the economy buried past. And they have to adapt so so far I think the market believes it. Yeah Allen's gonna do what's best for the economy. I rate hikes are you anticipating from the Fed. I'm actually anticipating. I think if anything the risk is that that I have to take away the night that party hat. I mean let's be real the American economy is doing okay. But we we have pressure right now and we make sure that we continue to stimulate our economy and get to it 3% growth. Is that going back to Europe. Rotten thing with some stocks that Time Warner Disney shares. They're dropping despite does the rally in the broader market. All over Time Warner subscription revenue drops steeply and it Disney Europeans are profit decline should investors avoidance stuff that almost here's cord cutting. Or I'll pick them up on the well I think at Time Warner is different companies. And in the about a different risk but Disney. Just hit out of the park actually don't really have a problem yes and it all that was really over Iger made a big point to point out is and is doing just fine. But it is these numbers were Axl and I think investors have an opportunity here to look at a company that's really doing. Quite well and guilty to ground. What Twitter. Reports today after market closes. But it customized highlights the uses of the tweets they're more likely in our act which. Do you think this is a good move or for Twitter as a battle to boost user growth and revenue. Well I don't know yet. I think the bigger issue is that she keeps coming out. Say one thing doing acts. He totally backed panel on this whole launch. And all incremental adjustments aid with Twitter dot there have not been popular girl power. Users like myself have been happy with them so I don't think he should maps with the product I think what you really need to do is figure out how to get people age Twitter who are currently using it and there are a lot of things you can do but he. The stock down 35% this year I'll buy now or stay away. I'm staying away from Twitter now until. He gave me some sort of cohesive strategy that I believe. I'd much rather stick with with Bob Iger Walt is. And lastly out Ross in this trading environment we seem really choppy trade just witnessed yesterday's trade. Well what should investors do. I think it passes me privately hostages right. But also take advantage of the opportunity. They negativity is way too much and when asked me to do as a strategy called dollar cost averaging we've played my firm and despite a little. It every month of your favorite companies and I think you'll look back in here and realize that this was a great supplies stocked but dollar cost and being conservative is very important that deal in in negative downdraft in our case with possibly more downside to come. Thanks hello Ross. Our thanks to roster Grosvenor house lucky I'm Fred Katayama this is.