Job Report Takeaway; Tech Takes a Hit

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April 4 (Bloomberg) -- Stifel Nicolaus Market Strategist Kevin Caron examine the job report and the effect on the market in “On The Markets” with Olivia Sterns on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)

Out why.

I couldn't tell you.

Some of the higher priced companies have been giving back a little bit of their luster.

Perhaps it was a technical level.

I'm really not sure.

We came in, we got different numbers on the economy.

The winter weather did not carry over into march.

The market lost its legs mid day and i really don't have an explanation for it.

A lot of speculation that we will see selloffs because the valuations are no longer justified.

The gauge is now trading and it is the highest level since 2010. our stocks fairly valued at these levels echo you can make the argument that the market is even overvalued.

Unfortunately, if you look at multiples overall and take a big step back, the market was worth $9 trillion five years ago.

It is now worth close to 23 dollars trillion -- $23 trillion.

A 30% rise in the market last year, the market will bite some time and in deed, it has been doing that next week.

What we are seeing today, the selloff is a little air coming out of the pockets and bubbles in the market.

You heard about the biotech bubble we have seen it.

Let me run you through the numbers.

Numbers dropped today.

There are bubbles out there in the market.

I will not speak specifically about biotech, but what i will say is that if you look at valuations last year, you had a 30% rise on average.

Higher beta, higher volatility groups, they will need much more than that.

At some point, a valuation has to be considered.

The data seems to simmer down a little bit .

This text has been automatically generated. It may not be 100% accurate.

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