Wells Fargo Asset Management's Margie Patel says stocks were sluggish because investors were overly optimistic about holiday retail sales, but December should still be modestly higher.
Faster and lower on this last trading day of November joining us from our Boston Beer with some insight is Smart people tell she is a senior portfolio manager with wells Florida. Asset management greet have you. Good to be here are so what are its punishment today. I. Gets may be a hopes for a little bit too high for retail sales irony. Thanksgiving weekend. And I think looking forward as to realization that growth is really rather slow. And may be the enthusiasm. That we expect. In the end of the year upswing up might already be reflected in stock prices and so may be we should expect him to fade a little bit here. So what's your I think investors that. The I think that the this sense of investors. Is to continue to look for domestic US companies. And down those who will be vulnerable to the pretty slow growth overseas and I think. Avoiding the commodity sector we're seeing a little bit of a rebound in energy and I think it's just a short term if. Here's to your thoughts on the health care sector it's been badly bruise on his election year talk about drug prices. Any segments that you like within healthcare. Well I like the instrumentation. Medical device. Parts of the health care market. That may get a little lift if they lift the the tax off these these companies. But also more fundamentally. These companies don't have the pricing issues a lot of the pharmaceutical companies have. They don't have the the Yemeni questions of stirred up a lot of politicians about changing. The benefits Aziz. And I think all these companies are looking at a growing market the use of testing than you should prove devices for treating not medical conditions. And the ability to invent an approved products says demeaned so continue to have organic growth for many years. And also have growth in an emerging markets were a lot of those economies are slowing down but I think can help health care sector. For this party caught me we'll see even there continue pretty strong growth overseas. Yes I mentioned it is the last day of November stocks rose. As of now about half a percent in the month following a big bounce back in October and we already gone through much of what was called a Santa Claus rally here we have more to come. Well December is always a good year in Santa Claus always comes over Christmas. But since everybody knows that I'm thinking that we may not have a quite such an easy time this month I think we may see the market continue to be. Very very soon selective handful of so called proven winners continue to move up a little bit. And a lot of people scaling down of the other 90% of the market which haven't performed as well so I'm looking Torre. Is sort of a very modest out positive in December. And just filing I do wanna get your take on the Fed in the interest rate situation if they do. Start to raise rates in the.