ben levisohn, carleton glitch and al root. post covid interest rates going up, value stocks, it is all about tech. ben: back to 2,020 one with this market. i was bearish when it comes to the dow and i was right. the dow is not doing anything, lost one% one% this week even though nasdaq, has now outperformed the dow by 22.5%. the most since the nasdaq was created in the 1970s. nvidia had a huge move when sales skyrocketed, other tech stocks went up and not much else did. jack otter: does it bode ill for the future if stocks go high? ben: it is painful. if you look at fund managers only 33% of them have beaten their benchmarks because they don't own these big tech stocks. it's possible we see a situation where big tech catches down to everything else. we look at the strong dollar, rising rates, and you can see them weighing on it. uc sentiment is really terrible. it used to be called the panic euphoria index. it tympanic territory and they see a situation where the market starts to go up because people so hate it they have no cho

on "barron's roundtable," ben levisohn, carleton english and al route.t's a funny contradictory market out there, pessimists say inflation was recently the highest in years and optimists say the unemployment rate is lower than it has been 50 years. ben: the market is confused too. the market fell 0.3% this weekend is moving less than 1% in either direction the last 6 weeks. it hasn't done that since 2019. if you look over 6 weeks the market has gone up to 0. 4%, the smallest 6 week move since 2,020 one. it is a reflection of all the forces pulling on the market. i was looking at jobless claims data. if you look at the big jump we had this year, it was suggested there's recession. if you dig into those numbers the state of massachusetts is responsible for half of that jump. no one is sure why. they think the markets might be funky. if you take those out or adjust for them, things look okay. that is what is going on if you have a push/pool going on between the bulls and bears and it's a stalemate. . a lot of the concerns over regional banks have continued

on the "barron's roundtable," ben levisohn, carleton glitch and jack hough. we would rather see the government solve problems and exacerbate them but despite headlines about the debt ceiling the market doesn't seem worried. ben: it is actually optimistic. i'm not sure if we took a vote of everybody here in the studio if anybody would feel that way but the market went up one. 5% this week. even when republicans call off the talks on friday the s&p dropped 0.1%. that is not a market that's frightened of what is going to happen. look at this and say a bigger deal will get done at some point even if we say there's no way that is happening. jack otter: does that mean if and when we get one nothing happens? ibly17 it depends what the market gains but the more the market does gain into that, the more we have to worry that it will bsl on the news reaction. there are sectors that could do well. one of the reasons big tech perform as well as it doesn't worry about taking out debt of its own if things go bad. if we see a big deal, maybe sectors like the industrials which

my colleagues, ben levisohn, it looked like it is going to be a lousy week in the market and apple turned in a pretty good earnings report, jobs earning came stronger-than-expected in the dow was off to the races. ben: the nasdaq turned a sizable loss into a 0.7% gain and the jobs report that did, the sentiment got bad with the banks being in danger of collapse and getting this jobs report suggested we are not going into a hard recession. there's a chance the fed will engineer a soft landing and that brings the market off. jack otter: now that things look stronger the prediction has changed and earlier in the week it looked as if a rate cut was on the table for july. jobs are odds are the possibility of a rate hike. ben: it caused a shift. there was a sense of a chance for a rate cut in june and a better one in july and it dialed that back where markets are accepting the fed will be on hold for a while. that's not great news for a market that is still priced at a high level and is looking for that catalyst. jack otter: what is that catalyst? ben: i am not sure. it has to be sentiment. i w