KAYLA MORE ON HOW THE MARKETS
ARE MOVING THIS MORNING.
I WANT TO BRING IN OUR NEXT
GUEST CLINTON WAR AND A GLOBAL
INVESTMENT SPECIALIST AT JP
MORGAN AT CLINTON IT'S GREAT TO
HAVE YOU WITH US TODAY SO SET
TO END
2020 ON HIGH NOTE, WHAT ARE YOU
ADVISING CLIENTS FOR 2021.
>> THAT'S A GREAT QUESTION.
I MEAN THE MARKETS ARE AT
ALL-TIME HIGHS VALUATIONS AND
CALL I WAS JUST WONDERING DID I
MISS
THIS ROOM AND EVERYTHING WE'RE
LOOKING AT THERE'S STILL A LOT
OF TILL INTO THEM MARKET, WE
HAVE A BIG MONTELLA MONETARY
POLICY THAT THAT'S ON BOARD
THE VACCINATION IS IS
IS RAIN SOME CLARITY AROUND
THAT THERE'S A LOT OF CASH ON
CORPORATIONS AND ABOUT 2 SO
WE'RE WE'RE ADVISED CLIENTS TO
STAY IN THE MARCH. WE
THINK 2021 IS GOING TO BE
ANOTHER ANOTHER GOOD YEAR FOR
THE EQUITY MARKETS WITH US.
>> AND I GUESS DIG A LITTLE BIT
DEEPER HERE FOR US AT CLINTON
WE DO BROUGHT OUT
EXPECT A SHUNT IS THAT THE
MARKETS WILL CONTINUE TO MELT
UP
NEXT YEAR. HOW DO YOU DEFINE
GOOD ARE WE TALKING ABOUT MID
SINGLE DIGIT GAMES OR GAMES
POTENTIALLY OF DOUBLE DIGITS
LIKE WE'VE SEEN THIS YEAR WITH
THE NASDAQ AND THE S AND P.
>> YEAH, WE'RE IS GOING FOR US
AND P 500 THE
OF 25 U-P-S GROUP OF 2021.
SO THAT'S GETTING US TO A LOVED
ONE 75. FOR S AND P
500 WE'RE GOING TO SEE IF YOU
TRANSLATE THAT INTO WHAT
I MEAN FOR OVERTURNED THAT'S
ABOUT 10% OF THEM ARE CURRENTLY
TRADING PRICE TARGETS AROUND
4,000 THE S AND P
500 NICE PARTICIPATION ON THE
WHICH IS JUST INCREDIBLE THING
THAT ON THE BACKS OF WHAT
HAPPENED IN 2020 RIGHT IF YOU
JUST THINK ABOUT EVERY
THAT WENT ON THIS YEAR THE
MARKETS ARE UP 15%. WE THINK
WE'RE GOING TO MAKE THAT
ANOTHER 10 PERCENT IN 2021 IS
JUST FASCINATING TO SEE.
>> LAY OUT THE TOTAL
EXPECTATIONS FOR US AT CLINTON
OVER THE PAST WEEK AND A HALF
OR SO WE'VE BEEN ASKING OUR
MARKETS IN FINANCE FOCUS GUESS
TO BASICALLY
FOR PERRON BEST OR AS FOR
WHAT'S TO COME SO COLLECTIVELY
WE MIGHT BE UP BY DOUBLE
DIGITS, PERHAPS ON THE MAJOR
INDICES
NEXT YEAR WITH A LOT OF
OPTIMISTIC ELEMENTS IN SIGHT
LIKE A VACCINE ON THE WAY FOR
AMERICANS AND THE REST OF THE
WORLD. BUT ARE THERE ANY BOMB
IT'S A CUPS TURBULENCE THAT
INVESTORS SHOULD BE PREPARED
FOR AS WELL.
>> YEAH, I'M REALLY FOCUSED ON
3 THINGS HEADING INTO 2021
ONE THE PANDEMIC TO POLICY AND
THEN 3 PPP PPE THAT'S MOST
IMPORTANT OBVIOUSLY THE ONES
THAT ARE GOING UP FOR HEALTH
CARE
WORKERS. BUT WE ALSO BE
FOCUSING ON PPE EAT. SO THERE
COULD BE SOME HICCUPS IN TERMS
OF
THE ROLLOUT THE VACCINE AND THE
PANDEMIC IF WE SEE CASES
CONTINUE TO SPIKE WE'RE LOOKING
THROUGH THAT LOOKING THROUGH
FOR THE 2ND HALF OF 2021
LOOKING GOOD NEWS IN 2022, AND
WE THINK THEY'RE GOING TO
BE QUIET. STRONG AN APOLOGY
FROM THE U.S. HAS DONE
EVERYTHING IT COULD TO PROP UP
THE MARKET. YOU SEE THE
MONETARY STIMULUS WE'RE HAVING
A LITTLE BIT OF A HICCUP RIGHT
NOW WITH IF THE SENATE'S GOING
TO THIS CURRENT STIMULUS BILL,
BUT WE THINK SOMETHING IS GOING
TO GET DONE WILL BE
A NICE. ANOTHER BOOST TO THE
MARKET IN EVERY CEO EVERY SEE
OF ALL THAT I TALK TO YOU.
>> BECAUSE I WORK WITH THEY'RE
VERY OPTIMISTIC ABOUT THE YEAR
IN 2021 IN TERMS OF DEMAND FROM
FROM CLIMB. THERE'S JUST HEAD
TO THE MAN THAT
WE HAVE ACROSS THE U.S. AND
PEOPLE ARE READY TO GET BACK TO
NORMAL WITH ME THINK THAT'S
GOING TO BE A
MAJOR TELLING FOR THE MARKETS
IN 2021. SO FOR ME ITS POLICY
THE PANDEMIC AND EARNINGS WHAT
LET ME OUT.
>> BASED ON YOUR
FINANCIAL FORECAST AMID WHEN DO
YOU SEE ON THE U.S. GETTING
BACK TO NORMAL IS IT AS SOON AS
THE MIDDLE OF NEXT YEAR OR MORE
TOWARD THIS TIME NEXT YEAR
ABOUT A YEAR FROM NOW.
>> SO WE THINK THERE'S GOING TO
BE A GRADUAL RETURN TO
LOOK KIND OF MID MAY YEAR WE'LL
SOMETHING
MORE NORMAL. JUST KNOW THAT
WHEN I TALK TO CLIENTS AND
FAMILY MEMBERS AND FRIENDS ARE
ALL THIS SPECIALLY FOR TRAVEL
AND LEISURE.
CENTRAL. ONE OF THINGS THAT WE
DO WATCH VERY CLOSELY HERE.
JP MORGAN IS SPENDING AND THEN
SURPRISINGLY SPENDING ACROSS
THE BOARD CREDIT
CARD SPENDING. MOST IMPORTANTLY
HAS GOTTEN BACK TO THE LEVELS
OF A PREPANDEMIC SO THINK
THINGS GET BACK
TO YOU THAT THE MARKS OF
LOOKING PAST THAT WE KNOW THAT
IN 2022 THINGS
SHOULD BE BACK TO NORMAL AND
THE MARKETS WILL RESPOND
IN COURT.
>> THERE'S A LOT OF FOCUS AMONG
AT THE MARKET COMMUNITY ON THIS
GEORGIA SENATE RUNOFF RACE ON
JANUARY 5TH COULD BASICALLY TIP
OF THE BALANCE OF POWER IN
WASHINGTON DC AT BOTH OF THOSE
DEMOCRATIC HANDS, IT'S ACTUALLY
WINNING. IN GEORGIA. I'M
WONDERING HOW MUCH THAT'S ON
YOUR RADAR OF COURSE THE BIG
CHANGE
THAT WORK ALONG WITH THAT IS
LIKELY TO INCREASE IN TAXES
INCOME TAXES, BUT ALSO CAPITAL
GAINS TAXES. WHAT YOU THINK.
>> YEAH WE'RE WATCHING VERY
I THINK EITHER IT'S NOT GOING
TO BE THIS WAY THAT SOME FOLKS
FORECASTED SO I
THINK THAT THE CURRENT
ADMINISTRATION AND THE
ADMINISTRATION WILL WILL BE A
VERY MODERATE IN THEIR
APPROACH TO TO ANY CHANGES IN
THE TAX POLICY SO WE'RE NOT
FORECASTING
ANY MAJOR. TAX HIKES IN
OF THE ESTATE TAX INCOME TAX
CORPORATE AS WE JUST DON'T
THINK THAT'S GOING TO BE IN THE
CARDS IN
2021. NOW COMING UP TO 2022
THAT COULD BE SOMETHING ON THE
AGENDA. BUT WE JUST DON'T THINK
THAT ANYONE'S IN THE MOOD TO
SLOWDOWN OF THIS ECONOMIC
RECOVERY THAT WE KNOW OF RIGHT
NOW.
>> AND THE REALITY OF COURSE IS
THAT MAIN STREET AND WALL
STREET
DO NOT LINE UP THEY HAVEN'T
SINCE THE START OF THE PANDEMIC
AT LEAST SINCE THAT MARCH 23RD
BOTTOM THAT
WE SAW IN THE MAJOR INDICES
CLINTON WITH MAIN STREET STILL
VERY MUCH STRUGGLING. I
KNOW YOU MENTIONED THAT
EARNINGS IS ONE OF THE FACTORS,
ONE OF THE 3 FACTORS THAT
YOU'RE WATCHING HERE AND THE
NEW YEAR AND YOU'RE RIGHT.
I MEAN THE REAL
NOW HE IS THAT AS COMPANIES
HAVE RESTRUCTURED AND CUT HEAD
COUNT THEIR BOTTOM LINES HAVE
GOT INTO STRONGER POSITIONS AND
THAT'S ANOTHER REASON THAT WE
SEE THE STOCK MARKET RISE.
SO BASED ON WHAT WE KNOW I MEAN
DO YOU ANTICIPATE MORE
RESTRUCTURING FROM CORPORATE
AMERICA IN
2021 AND DOES THAT MEAN A STILL
ELEVATED LAYOFFS.
>> IT'S SUCH A GREAT QUESTION I
WAS TALKING WITH MY DAUGHTER
STILL IN SOME FEEL AS WE GET
THERE,
IT IS I THINK IT WILL FEEL
GREAT BUT I LOOK AT YOUR SCREEN
AND IT'S GREEN ALL THE TIME HOW
DOES THAT WORK AND YOU'RE RIGHT
THIS IS MAJOR DISCONNECT THEM
WHAT'S GOING ON THE MARKET WHAT
PEOPLE ARE FEELING
EVERY DAY AS WE'RE STRUGGLING
THROUGH THIS PANDEMIC SITUATION
BUT WHEN YOU TALK TO THE CEO
AND CFO SEE HAVE ALL OF THIS
CASH ON THE SIDELINES OVER
2 TRILLION DOLLARS OF CASH AND
DOESN'T P 500 COMPANIES
EX FINANCIALS AND THAT'S JUST
GOING TO BE ANOTHER CHILLY ONE
WOULD THINK IT WOULD HAVE
TO BE STOCK BUYBACKS REHIRING
CENTER SO THAT SHOULD ALL BE
ANOTHER TO LOOK FOR THE MARKET
IN
ANOTHER BOOST. AND WHY WE THINK
THAT THE SNP CAN RETURN ANOTHER
10% AFTER
15% RETURN IN 2020 IS JUST A
LOT OF TALENT AND YOU DON'T
WANT TO I THINK THEY DON'T WANT
TO BY CASH YOU DON'T WANT TO
FIGHT SCIENCE IT'S GOING TO BE
A GOOD YEAR.
NOW WE ARE ADVISING CLIENTS TO
BE VERY SPECIFIC IN WHICH
SECTORS THAT THEY FOCUS ON
RIGHT NOW WE'RE THINKING TECH
AND HEALTHCARE WILL HAVE
ANOTHER. SOME SOME MORE
GOOD GOOD GOOD RUN IN AND THEN
IN 2