While earnings usually come in substantially ahead of expectations — as much as 4 or 5 percentage points is not unusual — the downward direction in the outlook doesn't speak...Earningsread more
"We do not seek conflict with Iran or any other country," Trump tells reporters in the Oval Office.Politicsread more
Shopify debuts a new network to help it compete with Amazon.Marketsread more
"We missed being the dominant mobile operating system by a very tiny amount. We were distracted during our antitrust trial. We didn't assign the best people to do the work,"...Technologyread more
Sen. Bernie Sanders announced a plan Monday to forgive the country's $1.6 trillion outstanding student loan tab, intensifying the higher education policy debate in the 2020...Personal Financeread more
The strong dollar story could be over for now, and that's putting a shine on the 'anti-dollar' trade—gold.Market Insiderread more
"I believe it would be wise to take additional time and allow events to unfold" before deciding on rates, the Dallas Fed official said in an essay.The Fedread more
Stocks with this one feature are poised to crush the market after a rate cut, according to Goldman Sachs.Marketsread more
An Air Canada passenger traveling to Toronto from a weekend in Quebec City found herself stranded alone on the tarmac and in the dark, in what she described as a "nightmare."Airlinesread more
The new cut will likely draw thousands back to theaters and could finally push "Avengers: Endgame" above and beyond the record $2.78 billion "Avatar" has earned since its...Entertainmentread more
President Trump on Monday issued an executive order that would pressure insurers, doctors and other providers to disclose more information about health-care prices.Health and Scienceread more
Leading Wall Street strategist Jason Trennert shared his market and policy outlook and revealed why large-cap tech stocks may be in for a rude awakening in an exclusive interview for CNBC PRO with Mike Santoli.
On what the bull market needs to stay alive: "I think you need a catalyst because valuations are at the point now where, in my opinion, where it's going to be difficult to get sustainable earnings growth without capital spending," said Trennert. "Capital spending drives productivity, and capital spending is also very much driven by business confident."
"The global growth story helps, but what I think would help a lot more would be actual, tangible evidence of some sort of tax relief if not outright tax reform."
On new risks to big tech: "One thing I do believe is that the FANG stocks, I personally believe, there's more regulatory risk in those stocks than there has been. I think in the last administration, the Obama administration, financials and energy were seen as, I don't want to say the bad guys, but certainly they were under much more regulatory scrutiny and tech was seen as virtuous."
"Now there are real questions where those positions may be turning, where energy and financials are be seen as the solution for this administration in terms of getting growth going and there are real questions in terms of market power for companies like Facebook and Google on the ad side, Amazon obviously on the products side.
As Strategas' chief investment strategist, Trennert is known as one of Wall Street's top strategists on the subject of markets. Prior to founding Strategas, Trennert was the chief investment strategist and a senior managing director at ISI Group. He is the author of three books on investing and the culture of Wall Street, including his most recent, "My Side of the Street."
He also discusses:
The interview is exclusively for CNBC PRO subscribers.