• Welcome back to OpenEbell. Joining me right now, Jim Warden, CIO, the wealth consulting group is joining me here. What a great day. What a different picture. I mean, you could go back years and try and find a day where markets take off 1% and see feels like a big deal. But what we saw on Friday was the sell-off in two and 3%. What do you think of a bounce back on the day like today?
    Nicole
  • Jim Warden
    Great to be with you Nicole. Yeah, I think this is... Completely makes sense, you know, we had some... You know, kind of tear a scare, I get, if you will. Last week and Trump kind of walked that back but at the same time, you know, the markets. Really been grinding higher. We've been hitting a lot of... new all time highs and so it makes Perfect sense is very reasonable for the market. kind of have some days where we take a break and you know, today we're coming back and I still do believe in the call that, you know, we we're. We do have this. by the dip mindset that investors have. So I think that may be part of it. And... Again, part of it is walking back some of the comments made before on China.
  • Do you think the tariff volatility? is back, I guess we'll have to deal with that from time to time. You tell me and also where does the labor market fit into this big picture of the economy are we worried?
    Nicole
  • Jim Warden
    Yeah, they're great questions, so that the tear of concern is just kind of out there. This is gonna be hard to model. You cannot model what tweets might come out. about whether Tariffs get better or worse, but we largely believe that this is behind us. and terms of tariff volatility, but you know, there are going to be days. Like Friday. To the labor market that is something that we're paying more Ah! both attention to. you know we believe that this is Clearly a bigger risk. to growth. and the markets then is inflation. We continue to believe that inflation is You know, is an endowed trend. We're concerned, you know, the government shut down could mean. some additional job losses, so we believe that the Fed is going to be. co-wacked of this time around. and you know in the market agrees that you know getting a cut this month getting another cut in December. And you know, by the way, the Fed has a little will-or-rooms, so if they need to cut a little bit more. They can do that we certainly want to be on top of this. We don't want to be reactive. We want to be proactive.
  • What's your advice to investors here?
    Nicole
  • Jim Warden
    Yeah, so for long term investors, this... The market can keep going. uh... you know we we like the fundamentals uh... i know there are some people that are concerned about valuations. But we're still growing. And you know, I would say we're still in the very early innings as it relates to AI and growth. We believe this is clearly different than the tech bubble. There is fraud in some of the names that we see. Ah, but... By and large, this is, you know, I think a good environment. There's still a lot of cash on the sidelines. The technical still look good. And so if I'm a long-term investor, I'm going to stay bullish here. for sure.
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