Kenny Polcari on Trump’s New Tariffs: ‘The Market Is Getting to the Point Where It’s Exhausted’

RUSH TRANSCRIPT:
BARTIROMO: “joining us nicely stonewalled she fit or get strategist kenny. , great to see you, thank you for being here, give us your assessment of the macro story, we had record after record for the NASDAQ, technology stocks soaring and you have the nomination from President Trump have Stephen around to the Fed board, what is your assessment.”

POLCARI: “It’s been a very interesting time in a very interesting week. My sense is while tech is making new highs and we see it daily but the NASDAQ the broader market is turning and struggling. If you look between under the hood you’ll see the rest of the market industrial, energy, healthcare, basic materials are churning a little bit off their highs which suggests that the market is getting tired it is exhausted, while we have the great headlines about appointees to the Fed and moves on trade. I think the market is getting to the point where it is exhausted. I would not be surprised if we see a pullback until late August into September. Will have the into the rally again.”