Michael Wursthorn

speaker

1,567 appearances 29 recordings 1 series first heard Jul 2017 last heard Nov 2021

Michael Wursthorn’s voice in public audio — every appearance, attributed to the second.

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Appearances

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WSJ Your Money Briefing · Rate Hike Reassurance, Earnings Unease · 4 Jan 2019 podcast

There's concern that could fall further. voice-verified

And when you have things like trade that you really can't pin a value on, you can't say for certain how that's going to affect a business. voice-verified

And we're seeing that play out with Apple sort of since their announcement. voice-verified

It's that big wild card that when companies do start reporting those first quarter earnings, voice-verified

It doesn't give them a lot of room to sort of play with things like tariffs, things like rising interest rates, raising debt servicing costs. voice-verified

And there is that potential that you might have an earnings recession. voice-verified

There are some analysts saying that if you do have, say, a worst case scenario with all these factors, we could see negative earnings growth year over year. voice-verified

And without that, a lot of people have a hard time seeing how the market gets anywhere near its last high back in September for the S&P 500. voice-verified

WSJ Your Money Briefing · A Market Cave-In Ahead of the Holidays · 21 Dec 2018 podcast

You certainly have the algorithmic component to the stock market right now. voice-verified

And that's something that's always there. voice-verified

And you see it get especially heightened like it did this past week. voice-verified

When you have things like some of the major indexes moving above and below their 50 or 200-day moving averages, some of these key technical thresholds, because those are how the algorithms are tracking these indexes and deciding whether they should buy or sell something. voice-verified

So you see the algos pick up, and it's not even just the algos. voice-verified

You can have, say, a retail investor, and if they're in an index tracking fund for, say, the NASDAQ, they might set a market sell limit order. voice-verified

And that would just be something that's always in effect. voice-verified

And that would sort of send a signal that if the NASDAQ crosses a certain threshold, maybe something like when it entered into bear market territory on Friday, that it would just automatically sell that. voice-verified

And I had a number of investors tell me that there was quite a bit of automation taking sort of the control there. voice-verified

But even then, worse on top of that is that there wasn't any algorithms willing to buy at that point or retail investors on top of that. voice-verified

The Fed's interest rate hikes really have investors spooked, don't they, at this point? voice-verified

And a lot of it has to do with the messaging that Fed Chairman Jerome Powell has said around these interest rate increases. voice-verified

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