Latest / Best of Business / Andrew Curtayne: Milford Asset Management expert on the ongoing volatility in the US stock market

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Andrew Curtayne: Milford Asset Management expert on the ongoing volatility in the US stock market · Best of Business

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  Speaker 1: You're listening to a podcast from News Talks B Follow
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  Speaker 2: Now the Bumpy day of trading on the U S
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  Speaker 2: Stock Market. Andrew Courtain is without Milford Asset Management. He's
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  Speaker 2: with me tonight, GYDA Andrew even me right, So the
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  Speaker 2: the selloff continues last night, Any new.
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  Speaker 3: Developments, Yeah, there's an another volatile night. Last night. We
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  Speaker 3: had there SMB five hundred down around about one percent.
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  Speaker 3: It was a little bit disappointing because we had seen
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  Speaker 3: it rally a couple of days before and it was
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  Speaker 3: up about three percent. So we're back to down days again, unfortunately.
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  Speaker 3: So that takes the US markets down about eight percent
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  Speaker 3: since the highs we saw in February. There's no real
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  Speaker 3: news that triggered it last night. It's just we're now
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  Speaker 3: just in this period where volatility is quite high, so
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  Speaker 3: it's becoming quite normal to see days with a market
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  Speaker 3: up up or down one to two percent. We saw
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  Speaker 3: technology stocks and stocks that are particularly sensitive to the
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  Speaker 3: US economic growth outlook with the stocks sold off again
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  Speaker 3: last night, and the other ones that have sort of
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  Speaker 3: led the sell off over the last month or so,
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  Speaker 3: and all This has really been driven by a sort
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  Speaker 3: of growing view that the US might be seen some
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  Speaker 3: economics slow down. Part of that's to do with the
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  Speaker 3: uncertainty around tariffs, some of it's part of it's abound
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  Speaker 3: other Trump policies such as immigration.
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  Speaker 2: None of this was to do with the Middle East
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  Speaker 2: and the resumption of fighting there.
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  Speaker 3: No, I don't think so. So the market's become quite
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  Speaker 3: used to them to unfortunately, seeing what's going on in
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  Speaker 3: the Middle East, So no, I don't. I don't think
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  Speaker 3: it was that. I mean, there probably was a bit
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  Speaker 3: more focus on actually the Trump and and putin discussion
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  Speaker 3: and seeing if there's going to be a ceasefire in
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  Speaker 3: that market, and unfortunately there wasn't a cease fire agreed to.
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  Speaker 3: But the market's looking that as a catalyst to potentially
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  Speaker 3: push European equities a higher game, which which had our
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  Speaker 3: performance yere they're up around about twelve percent, So while
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  Speaker 3: the US market's been down five you've seeing quite a
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  Speaker 3: strong European market.
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  Speaker 2: Yeah, really strong. Do you think that there's room for
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  Speaker 2: that to go much higher?
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  Speaker 3: Yeah? I think there is. Markets sort of needs often
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  Speaker 3: want to see catalysts. Once you've seen a fairly big booze.
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  Speaker 3: So because they are already up twelve percent, it's now
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  Speaker 3: really about do we get more news that can keep
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  Speaker 3: pushing the sort of trade into Europe. One thing to
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  Speaker 3: look out for is there's this infrastructure and defense spending
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  Speaker 3: bill that's been pushed through by Germany at the moment,
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  Speaker 3: and there was actually some news on that last night
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  Speaker 3: where sort of the first round of local lawmakers had
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  Speaker 3: to vote to approve this, which they did. There's still
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  Speaker 3: another round to go, but this is positive, so that's
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  Speaker 3: head in the right direction. And yet and also markets
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  Speaker 3: obviously closely watching Ukraine developments. If we do CSS fire
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  Speaker 3: and ultimately need into the war there, then I think
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  Speaker 3: that's another large catalyst to keep pushing markets higher.
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  Speaker 2: Yeah, thank goodness for Germany and some stimulus. Same goes
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  Speaker 2: for China. Right now, let's talk about in Nvidia, world's
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  Speaker 2: second largest company, have their annual technology conference today. Anything
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  Speaker 2: made you come out of that?
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  Speaker 3: Really, most of the news was sort of in line
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  Speaker 3: with expectations. The CEO did about a two and a
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  Speaker 3: half hour long presentation in terms of technology developments is
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  Speaker 3: wrong about what people expected, and because there was nothing
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  Speaker 3: really exciting that the shar has traded down a few percent,
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  Speaker 3: but the key message really was that al models cane
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  Speaker 3: to get more complex and the Video is the company
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  Speaker 3: that is really pushing the frontiers on how to power
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  Speaker 3: these models and make them more efficient. And as these
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  Speaker 3: models get more complex, they need these kind of super
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  Speaker 3: powerful chips that the Video is developing. And Jensen, the
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  Speaker 3: CEO of ASY, spent most of the presentation talking about
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  Speaker 3: how the videos sort the latest technology is going to
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  Speaker 3: be at the forefront of this development.
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  Speaker 2: Andrew, thank you for that rap. Andrew courtained Melfordastt Management.
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