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Speaker 1: Now the bumpy day of trading on the U S

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Speaker 1: stock market. Andrew Courtain is without Milford Asset Management. He's

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Speaker 1: with me tonight. Get Andrew right. So the selloff continues

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Speaker 1: last night, any new developments.

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Speaker 2: Yeah, there's an another volatile night. Last night. We had

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Speaker 2: there and B five hundred down around about one percent.

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Speaker 2: It was a little bit disappointing because we had seen

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Speaker 2: it rally a couple of days before and it was

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Speaker 2: up about three percent. So we're back to downadays again, unfortunately,

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Speaker 2: So that takes the US markets down about eight percent

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Speaker 2: since the high as we saw in February. There's no

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Speaker 2: real news that triggered it last night. It's just we're

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Speaker 2: now just in this period where volatility is quite high,

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Speaker 2: so it's becoming quite normal to see days with the

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Speaker 2: market fu up or down one or two percent. We

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Speaker 2: saw technology stocks and stocks that are particularly sensitive to

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Speaker 2: the US economic growth outlook with the stocks that sold

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Speaker 2: off again last night and the other ones that have

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Speaker 2: sort of led the sell off over the last last

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Speaker 2: month or so. And all this has already been driven

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Speaker 2: by growing view that the US might be seen some

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Speaker 2: economics slow down. Part of that's to do with the

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Speaker 2: uncertainty around tariffs, some of it's part of it's abound

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Speaker 2: other Trump policies such as immigration.

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Speaker 1: None of this was to do with the Middle East

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Speaker 1: and the resumption of fighting there.

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Speaker 2: No, I don't think so. So the market's become quite

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Speaker 2: used to them to, unfortunately seeing what's going on in

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Speaker 2: the Middle East. So no, I don't. I don't think

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Speaker 2: it was that. I mean, there probably was a bit

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Speaker 2: more focus on actually the Trump and Pootin discussion and

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Speaker 2: seeing if there's going to be a ceasefire, and that

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Speaker 2: market unfortunately wasn't a cease fire agreed to, but the

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Speaker 2: markets looking that as a catalyst to potentially push European

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Speaker 2: equities higher game which which had our performance. Yet they're

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Speaker 2: up around about twelve percent, So while the US market's

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Speaker 2: been down five, you're seeing quite a strong European market.

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Speaker 1: Yeah, really strong. Do you think that there's room for

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Speaker 1: that to go much higher?

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Speaker 2: Yeah, well I think there is. Markets sort of needs

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Speaker 2: often want to see catalysts once you see seen a

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Speaker 2: fairly big boost. So because they are already up twelve percent,

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Speaker 2: it's now really about do we get more news that

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Speaker 2: can keep pushing the sort of trade into Europe one

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Speaker 2: thing to look out for is there's this infrastructure and

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Speaker 2: defense spending bill that's been pushed through by Germany at

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Speaker 2: the moment, and there was actually some news on that

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Speaker 2: last night where sort of the first round of local

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Speaker 2: lawmakers had to vote to approve this, which they did.

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Speaker 2: There's still another round to go, but this is positive.

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Speaker 2: So that's hit in the right direction. And yet also

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Speaker 2: markets obosey closely watching Ukraine developments. If we do CSS

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Speaker 2: fire and ultimately into the war there, then I think

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Speaker 2: that's another another large catalyst to keep pushing markets high.

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Speaker 1: Yeah, thank goodness for Germany and some stimulus. Same goes

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Speaker 1: for China. Right now, let's talk about in Nvidia, world's

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Speaker 1: second largest company, had their annual technology conference today. Anything

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Speaker 1: made you come out of that, well, not really, it.

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Speaker 2: Was most of the news was sort of in line

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Speaker 2: with expectations. The CEO did about a two and a

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Speaker 2: half hour long presentation in terms of technology developments, is

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Speaker 2: around about what people expected, and because there's nothing really

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Speaker 2: exciting that the shares traded down a few percent. But

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Speaker 2: the key message really was that al models continue to

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Speaker 2: get more complex and the video is the company that

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Speaker 2: is really pushing the frontiers on how to power these

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Speaker 2: models and make them more efficient. And as these models

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Speaker 2: get more complex, they need these kind of super powerful

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Speaker 2: chips that the video is developing. And Jensen, the CEO

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Speaker 2: basedly spent most of the presentation talking about how n

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Speaker 2: Video's sort of latest technology is going to be at

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Speaker 2: the forefront of this development.

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Speaker 1: Andrew, thank you for that wrap. Andrew curtained melfordaset Management.

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