Actors Strike Ends After 118 Days as Studios, Union Reach Deal
Nov 9, 2023
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Hollywood strike ends after 118 days with a billion-dollar deal. False picture of market's health due to strength of mega-cap stocks. Pushback against criticism of big tech companies profiting from AI. Low success rate of active fund managers. Concerns about Fed's policies. Opportunities and challenges for Starbucks. Nancy Tangler's bullish perspective on Amazon's cloud business.
The SAG-AFTRA union and Hollywood studios reached an agreement to end the 118-day film and TV strike.
Nancy Tengler believes that Starbucks has the potential to be a great growth company again, focusing on China growth, delivery improvement, product innovation, and labor issues.
Deep dives
The Fed's rhetoric and its impact on the market
Nancy Tangler expresses disappointment in the Fed's rhetoric, stating that Chairman Powell's policies have been wrong and that their backward-looking focus on data creates unnecessary volatility.
Opportunity in Starbucks
Nancy Tangler sees opportunity in Starbucks as the company focuses on growth in China, improves delivery and product innovation, and addresses labor issues. She believes that the company has the potential to be a great growth company once again.
Bullishness on Amazon
Nancy Tangler is bullish on Amazon due to Andy Jassy's successful track record, particularly in improving growth in the cloud business and utilizing AI. She believes Amazon will continue to take share in various sectors, including pharmaceuticals and healthcare.
The Fed's handling of inflation and interest rates
Nancy Tangler criticizes the Fed's handling of inflation, stating that they have been late in responding to rising inflationary pressures and in normalizing interest rates. She believes that their data-dependency approach has created problems and that spending is also contributing to sticky inflation.
Bloomberg News Entertainment Reporter Thomas Buckley talks about Hollywood studios and the SAG-AFTRA union reaching an agreement to end the film and TV strike after 118 days. Doug Ramsey, CIO at Leuthold Group, shares his thoughts on market volatility. Bloomberg News Equities Reporter Alexandra Semenova explains why avoiding Tesla is a winning trade for fund managers. And we Drive to the Close with Nancy Tengler, Chief Investment Officer at Laffer Tengler Investments. Hosts: Tim Stenovec and Barry Ritholtz. Producer: Paul Brennan.