Envestnet's Jay Hummel, author of The Essential Advisor, talks with Bobbi Rebell about his outlook for the markets, and what investors should be paying attention to this summer.
That's taking a break from their two day winning streak here with Maher is Jay homily is managing director at and that's net and also the author of the essential advisor. I great to have you thanks for him right so let's talk about the markets as I said we are taking a break architect out what's striking today. That's an actual pullback after two great days I also think people are on and wait for the Fed. And speaking of that Janet Allen is going to be speaking tomorrow what should we be looking for from her iron from the Fed in general. I think she's gonna talk a little bit about inflation she's also gonna talk about when that we should be concerned about China a lot of that commissioners have spoken this week about their opinion. So we expect Curtis to weigh in on that as well. What trans Casey and the market these days. I got to look at oil everyone's talking about oil at that fifty dollars a barrel and you're also looking at that the softness and this is spending that got talked about this week. So few negative signs the market but overall that the market news has been really good and we think it's. Leading to a summer summer rally. So speaking of that there is a traditional saying people say you know sell in May go way here we are the end of may heading into Memorial Day weekend. What's your thinking and you obviously a little bit optimistic. Yup I think there's a lot of money on the sidelines already have you know past trends in play out in the future. I also think that digital transit changed with the investors now these to go away and they didn't have digital tools to take a look at their accounts. I think the selling mango way probably won't happen as much as it has in the past. That's interesting do you think the investor culture has changed. Recently because of that book Smart touch even when they're on vacation. I do with the notable change for the advisors we serve they're there all bringing out investors client portals and it isn't about waiting for your quarterly statement in and deal with your advisor once. A quarter now there investors are looking at it real time in the much more connected and there there investments that can be dangerous after vice investors in this market. State your plan state your financial plan work with your advisor to make sure that you're taking the long view don't know react to the noise it's it's very easy to. That over reacted that day in and day out of the market. And then going forward what do you think. How do you think it'll play out longer term especially if we see for example I fed rate hike in June as many people think what will that mean for the broader markets. Well I I think it makes us see if it's like December there was a lot of noise and nothing really happened that ended December hike and so I think it I'm anxious to see it all the noise at least. Anything more subjected them to release on December are. Thank you so much thank you. I thank you and Beth Nancy.