The US stock market is still undergoing a turbulent period, with more investors aiming to cut their losses.
Donald Trump's tariffs still loom large over the market, with numbers dipping into the red after a short rebound.
Milford Asset Management's Andrew Curtayne explains further.
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Speaker 1 (00:00):
Now the bumpy day of trading on the U S
stock market. Andrew Courtain is without Milford Asset Management. He's
with me tonight. Get Andrew right. So the selloff continues
last night, any new developments.
Speaker 2 (00:14):
Yeah, there's an another volatile night. Last night. We had
there and B five hundred down around about one percent.
It was a little bit disappointing because we had seen
it rally a couple of days before and it was
up about three percent. So we're back to downadays again, unfortunately,
So that takes the US markets down about eight percent
since the high as we saw in February. There's no
real news that triggered it last night. It's just we're
(00:36):
now just in this period where volatility is quite high,
so it's becoming quite normal to see days with the
market fu up or down one or two percent. We
saw technology stocks and stocks that are particularly sensitive to
the US economic growth outlook with the stocks that sold
off again last night and the other ones that have
sort of led the sell off over the last last
month or so. And all this has already been driven
(00:58):
by growing view that the US might be seen some
economics slow down. Part of that's to do with the
uncertainty around tariffs, some of it's part of it's abound
other Trump policies such as immigration.
Speaker 1 (01:11):
None of this was to do with the Middle East
and the resumption of fighting there.
Speaker 2 (01:16):
No, I don't think so. So the market's become quite
used to them to, unfortunately seeing what's going on in
the Middle East. So no, I don't. I don't think
it was that. I mean, there probably was a bit
more focus on actually the Trump and Pootin discussion and
seeing if there's going to be a ceasefire, and that
market unfortunately wasn't a cease fire agreed to, but the
markets looking that as a catalyst to potentially push European
(01:39):
equities higher game which which had our performance. Yet they're
up around about twelve percent, So while the US market's
been down five, you're seeing quite a strong European market.
Speaker 1 (01:48):
Yeah, really strong. Do you think that there's room for
that to go much higher?
Speaker 2 (01:53):
Yeah, well I think there is. Markets sort of needs
often want to see catalysts once you see seen a
fairly big boost. So because they are already up twelve percent,
it's now really about do we get more news that
can keep pushing the sort of trade into Europe one
thing to look out for is there's this infrastructure and
defense spending bill that's been pushed through by Germany at
(02:16):
the moment, and there was actually some news on that
last night where sort of the first round of local
lawmakers had to vote to approve this, which they did.
There's still another round to go, but this is positive.
So that's hit in the right direction. And yet also
markets obosey closely watching Ukraine developments. If we do CSS
fire and ultimately into the war there, then I think
that's another another large catalyst to keep pushing markets high.
Speaker 1 (02:39):
Yeah, thank goodness for Germany and some stimulus. Same goes
for China. Right now, let's talk about in Nvidia, world's
second largest company, had their annual technology conference today. Anything
made you come out of that, well, not really, it.
Speaker 2 (02:52):
Was most of the news was sort of in line
with expectations. The CEO did about a two and a
half hour long presentation in terms of technology developments, is
around about what people expected, and because there's nothing really
exciting that the shares traded down a few percent. But
the key message really was that al models continue to
(03:12):
get more complex and the video is the company that
is really pushing the frontiers on how to power these
models and make them more efficient. And as these models
get more complex, they need these kind of super powerful
chips that the video is developing. And Jensen, the CEO
basedly spent most of the presentation talking about how n
Video's sort of latest technology is going to be at
the forefront of this development.
Speaker 1 (03:34):
Andrew, thank you for that wrap. Andrew curtained melfordaset Management.
Speaker 2 (03:37):
For more from Hither Duplessy, Allen Drive, listen live to
news talks it'd be from four pm weekdays, or follow
the podcast on iHeartRadio.
Now the bumpy day of trading on the U S
stock market. Andrew Courtain is without Milford Asset Management. He's
with me tonight. Get Andrew right. So the selloff continues
last night, any new developments.
Speaker 2 (00:14):
Yeah, there's an another volatile night. Last night. We had
there and B five hundred down around about one percent.
It was a little bit disappointing because we had seen
it rally a couple of days before and it was
up about three percent. So we're back to downadays again, unfortunately,
So that takes the US markets down about eight percent
since the high as we saw in February. There's no
real news that triggered it last night. It's just we're
(00:36):
now just in this period where volatility is quite high,
so it's becoming quite normal to see days with the
market fu up or down one or two percent. We
saw technology stocks and stocks that are particularly sensitive to
the US economic growth outlook with the stocks that sold
off again last night and the other ones that have
sort of led the sell off over the last last
month or so. And all this has already been driven
(00:58):
by growing view that the US might be seen some
economics slow down. Part of that's to do with the
uncertainty around tariffs, some of it's part of it's abound
other Trump policies such as immigration.
Speaker 1 (01:11):
None of this was to do with the Middle East
and the resumption of fighting there.
Speaker 2 (01:16):
No, I don't think so. So the market's become quite
used to them to, unfortunately seeing what's going on in
the Middle East. So no, I don't. I don't think
it was that. I mean, there probably was a bit
more focus on actually the Trump and Pootin discussion and
seeing if there's going to be a ceasefire, and that
market unfortunately wasn't a cease fire agreed to, but the
markets looking that as a catalyst to potentially push European
(01:39):
equities higher game which which had our performance. Yet they're
up around about twelve percent, So while the US market's
been down five, you're seeing quite a strong European market.
Speaker 1 (01:48):
Yeah, really strong. Do you think that there's room for
that to go much higher?
Speaker 2 (01:53):
Yeah, well I think there is. Markets sort of needs
often want to see catalysts once you see seen a
fairly big boost. So because they are already up twelve percent,
it's now really about do we get more news that
can keep pushing the sort of trade into Europe one
thing to look out for is there's this infrastructure and
defense spending bill that's been pushed through by Germany at
(02:16):
the moment, and there was actually some news on that
last night where sort of the first round of local
lawmakers had to vote to approve this, which they did.
There's still another round to go, but this is positive.
So that's hit in the right direction. And yet also
markets obosey closely watching Ukraine developments. If we do CSS
fire and ultimately into the war there, then I think
that's another another large catalyst to keep pushing markets high.
Speaker 1 (02:39):
Yeah, thank goodness for Germany and some stimulus. Same goes
for China. Right now, let's talk about in Nvidia, world's
second largest company, had their annual technology conference today. Anything
made you come out of that, well, not really, it.
Speaker 2 (02:52):
Was most of the news was sort of in line
with expectations. The CEO did about a two and a
half hour long presentation in terms of technology developments, is
around about what people expected, and because there's nothing really
exciting that the shares traded down a few percent. But
the key message really was that al models continue to
(03:12):
get more complex and the video is the company that
is really pushing the frontiers on how to power these
models and make them more efficient. And as these models
get more complex, they need these kind of super powerful
chips that the video is developing. And Jensen, the CEO
basedly spent most of the presentation talking about how n
Video's sort of latest technology is going to be at
the forefront of this development.
Speaker 1 (03:34):
Andrew, thank you for that wrap. Andrew curtained melfordaset Management.
Speaker 2 (03:37):
For more from Hither Duplessy, Allen Drive, listen live to
news talks it'd be from four pm weekdays, or follow
the podcast on iHeartRadio.
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