Name: Expert talks impact of big losses on Wall Street
Uploaded: 2022-04-26T10:23:31-0400
Duration: 247221
Description: The Dow Jones plunged more than 900 points Friday, ending the week with its worst day since 2020. Gerald Townsend, president of Townsend Asset Management, talks about the potential impact of the losses.

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The Dow Jones plunged more than 900 points Friday, ending the week with its worst day since 2020. Gerald Townsend, president of Townsend Asset Management, talks about the potential impact of the losses.

NOT SERIOUSLY INJURED. ADAM OWENS, WRAL NEWS >> THE DOW JONES PLUNGED MORE THAN 900 POINTS TODAY THE WEEK WITH ITS WORST DAY SINCE 2020 LOWER CORPORATE EARNINGS AND RISING RATES CAUSED A HUGE SELLOFF TODAY. >> BOTH THE S AND P 500 AND NASDAQ TOOK SIMILAR HITS, PERCENTAGE WISE CLOSING DOWN MORE THAN 2 AND A HALF PERCENT. AND JOINING US NOW TO TALK ABOUT THE POTENTIAL IMPACT OF TODAY'S LOSSES IS GERALD TOWNSEND, PRESIDENT OF TOWNS AND ASSET MANAGEMENT, MISTER TOWNSEND. WE KNOW THE STOCK MARKET GOES UP AND DOWN. WE'VE SEEN IT A LOT THIS YEAR. SO HOW SHOULD PEOPLE AT HOME VIEW TODAY'S TUMBLE ON WALL STREET? >> WELL, FIRST, I'D SAY WE NEED TO KEEP IT AND PERSPECTIVE AS A PERCENTAGE AND NOT A NUMBER. AS THE INDEX'S MARCH HIGHER AND HIGHER. WE SEE THESE 500 POINT DROP SLAUSON POINT DROPS. WE HAVE TO REMEMBER AS A PERCENTAGE OF THE END. THAT'S AND YES, IT WAS A NICE PERCENTAGE DROP, BUT THAT IS NOT UNCOMMON. WE NORMALLY HAVE DROPS OF, YOU KNOW, 5% OR GREATER SEVERAL TIMES DURING THE YEAR. AND SO WHAT WE'RE REALLY DOING IS GETTING BACK TO NORMAL OTHER ONE. I NOT LIKE NORMAL, BUT THAT'S FOR YEARS. >> SO SHOULD WE EXPECT MORE VOLATILITY AHEAD? THERE'S SO MUCH HAPPENING GLOBALLY. CERTAINLY THAT COULD AFFECT THE MARKETS. >> ABSOLUTELY. WE SHOULD WAIT. WE'VE GONE TO A PERIOD OF VERY LOW VOLATILITY AND I LIKE TO COMPARE THIS TO THE WEATHER MAN TALKING ABOUT A STORM FRONT COMING THROUGH. YOU'VE SUNNY DAYS AND CLEAR SKIES AND NOW WE'RE GETTING SOME US, YOU KNOW, CHANGE IN THE WEATHER. AND WHEN A STORM FRONT COMES IN THIS CASE, IT'S INFLATION IS THE GEOPOLITICAL. IT'S THE MONETARY CHANGE WITH THE FEDERAL RESERVE RAISING INTEREST RATES. THE REACTION OF INVESTORS SO THAT ALL OF THAT COMING AT ONE TIME. AND THAT'S WHAT WE'RE SEEING WITH INCREASED BOTTOM. >> SO WHEN A SELLOFF LIKE THIS IS HAPPENING, SHOULD INVESTORS TAKE ADVANTAGE OF IT AND MAYBE BUY SOME MORE STOCKS WHILE THE LOWER? SURE IF IF THAT SITS AM WAS THEIR PLANS. NOW, IF YOU'RE FULLY INVESTED, OF COURSE, YOU DON'T HAVE THE CASH. >> AND YOU'D BE SITTING BUT HIS STARKLY, YOU KNOW, BUYING WIN, OPPORTUNITY PRESENTS ITSELF CAN BE A GOOD THING. SO YES, I WOULD. I WOULD. IT'S NOT JUST THAT STRATEGY. I'D BE CAREFUL. I WOULD EASE I WOULDN'T BECAUSE WE COULD HAVE MORE ABOUT DAILY COME AND MAYBE MORE OPPORTUNITIES TO BUY, BUT CERTAINLY THIS WILL CREATE SOME OPPORTUNITIES TALKING ABOUT PEOPLE FULLY INVESTED. LET'S TALK ABOUT PEOPLE LOOKING AT THEIR RETIREMENT SAVINGS TODAY OR MAYBE EVEN CONSIDERING MAKING A BIG LIFE CHANGE LIKE BUYING A HOME. >> HOW SHOULD THEY SEE WHAT'S HAPPENING RIGHT NOW IN THE MARKET? >> LET'S LOOK AT THE HOME BUYERS MORTGAGE RATES. I THINK THE 30 YEAR MORTGAGE RATE IS NOW OVER 5.1. SO IT'S GONE UP QUITE A BIT. WE THINK BACK WHEN IT FIRST THERE ARE AROUND 3% OR LOWER LEVEL UP THAT LONG AGO. AND SO THAT CERTAINLY IS GOING TO HAVE AN IMPACT ON HOME BUYERS AND ULTIMATELY ON HOME PRICES IT IS SOMETHING IF YOUR HOME BAR AT THE BUDGET FOR WHAT SIZE OF HOME CAN AFFORD TO PAY BUT WHAT I HAVE AN IMPACT, YES, AND WILL WRITES BE EVEN HIGHER PROBABLY ANOTHER WEEK AND THAT, YOU KNOW, WE CAN'T SAY WHEN AS FAR AS RETIREMENT NOT NECESSARILY A HUGE, HUGE IMPACT. YOU KNOW, YEAR WHETHER YOU'RE PLANNING FOR RETIREMENT ARE JUST GETTING INTO IT. IT'S SO ONE DAY BLITZ AND I WOULDN'T BE RADICALLY CHANGING RETIREMENT PLANS JUST BECAUSE OF THAT, I WOULD CERTAINLY AWARE OF IT. BUT TIME IS A LONG TERM. AND THAT. >> WELL, I DON'T KNOW IF IT'S THE TREES BEHIND YOU OR JUST YOUR CALM DEMEANOR. BUT I FEEL A LITTLE BIT BETTER AFTER WHAT HAPPENED RED SHIRTS AND THE MARKET WAS DOWN. I THINK THAT THE HAHA. YES, IT IS. IT IS JUST A NORMAL DAY AT THE OFFICE, RIGHT? IT JUST HAPPENS ALL THE TIME. IT'S BEEN TO CALM NOW ARE MORE MUST COME BACK. WE JUST DON'T LIKE NORMAL.

Jessica Patrick

Expert talks impact of big losses on Wall Street

Get the latest WRAL WeatherCenter Forecast whenever you need it, including the DUALDoppler5000 and the 7-Day Forecast.

Hi, everyone. Meteorologist Anthony Bag Leone here on the Wral Severe Weather Center. I hope you've had a great weekend. We head back into this upcoming week with some things to talk about here as far as the weather is concerned. Here's what we're kind of watching over the next seven days on the whole very calm. We have sunshine fall like temperatures where we start to see some changes though, is into Friday and Saturday, we have a cold front that's going to come through. It's really gonna bring minimal rain. Chances what the big thing you will notice here next weekend morning, temperatures are going to be back in the forties. So some of the chilliest air that we've seen here this fall season will be into next weekend. Otherwise tonight, though, 52 in Roxborough, we're at 57 in Raleigh. 56 in Fayetteville. Very comfortable. Shouldn't have any issues out the door tomorrow morning, upper seventies, low eighties here in the next five days, our normal 78 we really don't see any big fluctuations from that through this week, but there is that cold front. I'll start us off here on Friday morning. So we have a couple of days here if you are looking forward to some fall temperatures, but notice all of that blue, that's of course, the cooler temperatures up to Iowa, Minnesota that is really going to start to dive farther south. Here we go through the Ohio Valley and into North Carolina. There's Sunday at seven o'clock in the morning again, morning, temperatures in the forties, afternoons in the sixties. So it will be a change compared to what we have seen the past couple of days. Other than that, really not a whole lot to talk about here. Thankfully, it's pretty quiet at home. We do have the tropics where we have tropical storm Felipe 50 mile per hour winds. This is the latest advisory on this one and it's going to continue to move up to the north, potentially becoming a category one hurricane. Our only chance of some showers right now comes in with that front Friday night into Saturday. It looks pretty minimal at this point. We may have to kind of shift that as we get closer and a better handle on what that front is going to do. I don't see that as a big moisture rainmaker at this point. We're at 83 tomorrow, low eighties here through the entire week morning, temperatures still in the fifties and sixties. But look at that in the next weekend, Sunday morning at 49 then Monday morning will be at 46. So definitely some chillier air compared to again where we've been at 68 at afternoon temperature on Sunday. So a big pattern shake up here with that front, both Saturday and Sunday of next weekend.

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Daytime Pick 3 and Pick 4 drawings are held at 3 p.m. daily. They can be seen as live or on-demand video.

Good afternoon. I'm Gale. Her welcome to today's drawings for Sunday, October 1st 2023. Well, let's get started today with our Carolina pick three. Our first winning number is a four. Our second number is three and our third number today is one and our pick three. Fireball number is a six. Joining me for this news, joining is our auditor from mcconnell and Jones L LP. Now let's move to the Carolina pick four. Good luck. Everyone is their first winning pick four numbers of five. Our second number is zero. Third number today is two and our fourth number is a seven and our pick for fireball number is nine. The North Carolina Education Lottery has contributed over $10 billion to education. Get your winning numbers every day at three o'clock and again at 11:22 p.m. here on your exclusive station for the North Carolina Education Lottery.

Daytime Pick 3 and Pick 4 Drawing

Nightly N.C. Education Lottery drawings during the 11 p.m. News.

Good evening. I'm Roxy Gary. Welcome to tonight's drawings for Saturday, September 30 2023. Let's get started with Carolina pick 33 as your first number. Second number seven, third number is one and our pick three. Fireball number is three. Joining me for tonight's drawing is our auditor from mcconnell and Jones L LP. Now let's move to Carolina pick four. Your first pick four. Number five. Second number is three. Third number is nine fourth number one and our pick four. Fireball number is nine turning now to the Carolina cash five. If no one wins the top prize tonight, tomorrow's top prize is estimated to be $139,000. Your first cash five number 32. 2nd number is 33rd. Number nine. Fourth number is 36 5th and final number. Tonight is 42. The North Carolina Education lottery has contributed over $10 billion to education. Thanks for your support. Get your winning numbers every night right here on your exclusive station for the lottery. Thanks for playing and have a great night.

Evening Pick 3 Pick 4 and Cash 5

Monday, Wednesday, and Saturday Powerball drawings, as shown live on WRAL.

Good evening, America. I'm Michelle Isles. Tonight. We've got another life changing jackpot for you in an estimated amount of $968.7 million. Get your tickets out. We'll start things off tonight with the number 30 right after that America. We have 19. Let's congratulate N JB of Maryland who won $50,000. Now, your next number up tonight is 46 that's followed by 37 and we'll round it out tonight for you with the number 44. Now, for your winning power ball number, good luck, everyone. It is 22 and your power play multiplier is two. Let's take another look at those winning numbers. Remember there are multiple ways to win. We'll see you back here on Monday night. It's time to play America's favorite jackpot game. This is powerball.

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Chris Lea and the WRAL team have highlights from dozens of high school football games in the area on Football Friday.

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Tuesday and Friday Mega Millions Drawing.

>> ACROSS AMERICA WITH MEGA JACKPOTS, IT'S MEGA MILLIONS ONES UP AMERICA. I'M JOHN CROW. IT IS FRIDAY, SEPTEMBER 29TH AND TONIGHT'S MEGA MILLIONS JACKPOT IS AN ESTIMATED ANNUITIZED 267 MILLION DOLLARS TO WIN THAT JACKPOT. YOU MUST HAVE SEIZED BY WAY OF A CLOSE SECOND GOLD MEGA MALL NOW HAS TO MAKE MAKE YOU A MILLIONAIRE TONIGHT. OUR FIRST WINNING NUMBER TONIGHT IS 40. THAT'S FOLLOWED BY 64. UP NEXT, WE HAVE 47. YOUR NEXT NUMBER IS 18 IN YOUR FINAL WHITE BALL NUMBER FOR THIS FRIDAY EVENING IS 55 AFTER THE MEGA BALL NUMBER. THAT IS 11 AGAIN. TONIGHT'S WINNING NUMBERS ARE 40 64. 47 18. 55 AND WILL MAKE

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Expert talks impact of big losses on Wall Street

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