Markets slip, Big Tech earnings on tap: Market Domination Overtime
On today's episode of Market Domination Overtime, Hosts Julie Hyman and Josh Lipton break down the market close and some of the biggest stories dominating the trading week. The Dow Jones Industrial Average (^DJI) closed Friday over 0.9% lower — shedding more than 370 points — with the Nasdaq Composite (^IXIC) and S&P 500's (^GSPC) also posting losses of over 0.8% and 0.7%, respectively, on Friday. PNC Asset Management Group CIO Amanda Agati explains, "I think it's a little bit of an awakening in the broader part of the market here as we sort of hit the halfway point of the year and set the stage for the second half. So I think it's been a very interesting couple of weeks." She argues a rotation is beginning as the markets broaden outside of Big Tech, adding, "the handoff between large to small and mid and certainly growth versus value has been sloppy. This relay race has not been a clean handoff, but I think it's what sets the stage for the second half. It's going to be choppy out there." More reports of Democrats urging President Biden to drop out of the race have surfaced, and Yahoo Finance Senior Columnist Rick Newman joins to discuss how Biden's chances of winning the election are dwindling. American Action Forum president and former CBO Director Douglas Holtz-Eakin explains how Trump's policies differ from the traditional Republican policies of the modern era. He says that the former president's mix of policies is not "recognizable as traditional Republican policy, but I don't think it's an entirely new brand yet. There are these elements that exist, they reflect something that I think is real and new, and that is a far more inward-facing Republican Party." Holtz-Eakin points to more isolationist foreign policy and less commitment to using the military to defend freedom globally as different policies from the traditional Republican agenda. Finally, Julie Hyman and Josh Lipton break down the biggest market stories to watch next week, from Big Tech earnings to June's Personal Consumption Expenditures (PCE) report. This post was written by Melanie Riehl
