Making sense of recent market volatility

Steve & Ted mornings
Thursday, February 15th
Guest: Andy Smith, CFP and host of KNSS' Investing Sense, Saturday mornings at 9 a.m.

Transcript - Not for consumer use. Robot overlords only. Will not be accurate.

Is this station which should talk turns to first firm. Live team coverage of breaking news KM SS we should talks number one news talk can't weather station. Depend on. Good morning 6 o'clock this decay in as a sporting news was even dead I stayed back in touch currently 62 degrees. Right 62. Degrees. Right now in southwest wind gusting up putting nine miles per hour. A Florida town is reeling from Wednesday's deadly mass shooting attack at the local high school a suspect is in custody. And expelled student did Marjorie Stoneman Douglas high school in Parkland Florida outside Fort Lauderdale cause death and chaos absolute. Here. Evil as governor Rick Scott police would apprehend Nicholas crews quickly but not before he inflicted maximum carnage leaving students. Shaken and confused. Heard gunshots you heard and going up and down the hallway he shot. In the door it means. Simon you're mean to sound thought. Thousands of high schoolers were rushed out of the building and made to wait for parents. In Miami Evan brown Fox News in the dust bowl at least seventeen. The second suspect has been arrested and original homicide Sunday night. An eighteen year old man was shot and killed in a hole in southeast Wichita there Lincoln and all over. Police officer Charlie Davidson says investigators believe there were four armed suspects at the scene on south pine ridge one suspect is seventeen year old. Was arrested early Monday morning now a second suspect has been apprehended in north Wichita. The victim is identified as Don update due for eighteen year old male Wichita. Kansas. Additionally. Early Tuesday evening an eighteen year old male was arrested in the 1000 block of north Harding. Second suspect booked into jail on charges of murder aggravated residential robbery and possession of a firearm by a felon officers may still be looking for up to two more suspects in this homicide case. And a report projects at Kansas will collect more than 500 million dollars in additional revenues. Over the next three years because of changes in federal income tax law. The state department of revenues report Wednesday was good news for legislators as they wrestle with the Kansas Supreme Court mandate to boost spending on public schools. But it may also spur interest in a return to Brownback era tax cuts but apartments and Kansas Woolsey tax collections increases. Partly because congress limited some federal income tax deductions. The department protected that the state won't collect an additional 138 million dollars in the 20s19 fiscal year beginning July 1. 180 million in fiscal 220. And 188 million in fiscal 20/20 one. The department released its projections for joint meeting of the house and senate tax committee is Dan O'Neill king and SS news. Highway 54 was closed for a time between Mineola and Buckland after two men died in the crash in southwest Kansas. The Highway Patrol report to pick up truck did not yield to an oil tanker bull drivers died at the scene there were no other passengers. KHP identifies the dead at 77 year old Phil shelling of Dodge City and 46 year old Tracy price of protection. The senate continues to struggle to find a way forward on immigration reform. The challenge in the senate on a difficult issue like immigration is you need sixty yes votes and the chairman of the Senate Judiciary Committee Republican Chuck Grassley is emphasizing. The president trumps support his bill through. Heard. Little League minority leaders say. That there's a few Republicans to go along with the Democrats. But did they got a bill but they'll ever it'll all of us the president sciences. Lawmakers talking over various ideas to address to young people brought to this country illegally by their parents. Senate Democratic Leader Chuck Schumer told the White House to back off. Now that we're working hard in the senate to come up with a bipartisan proposal. President trump is just trying to gum up the work. On Capitol Hill Mike Emanuel Fox News editors used on now 6044. Minutes past 6 o'clock. Seven dirty thirty case and as fit as we are heat into the morning now. At six dead and 10 minutes spent 6 o'clock. Stand up there in traffic this morning things looking old case so far traffic volumes. Really not all that heavy yet at this time and gasoline prices in which stuff. Still looking at low enter into was 37. A gallon here in which saw traffic updates from Kate and SS radio and yet chambers now the forecast briefcase in his his staff meteorologist Dan Holliday good morning Dan good morning cloud through thickening up across south central Kansas could even see a few areas of miss or sprinkles. But it is going to be windy and much warmer by this afternoon or high 76. If we do get that warm that was set a new record today. By tonight a cold front makes its way through our low 25. Sunny windy and 41 tomorrow. I'm KM SS meteorologist Dan Holliday though partly cloudy 62 degrees we have a southwest wind at fourteen miles per hour. 11611 Allen Steven Ted and its U been listen to Stephen did over the past weeks and a few months he doctors talk about the stock market we give you updates. Every day and where it's been going seems to be going toughened up enough and tonight I kind of got scared after awhile looks like there may have been a correction or two here and recently but it's. And a lot of market volatility. And with a us this morning talk about it is senior vice president financial planning financial planning. And to financial engines and co host of investing since 9 o'clock Saturday mornings right here on Candace has mister Andy's miss was deporting any nice to add to this morning. Good morning area have good but you're not an act. I don't mind watching my four okay yeah 401K go through the roof on the other thing that I'm I'm a little scared here what's going on Andy. Rather a couple of things mainly being an uptick in volatility Tony seventeen was a fantastic year. You know that it's like these that mean we just kind of saw the market keep going up and up and up but that really is that normal. And so what is how. Happened over the last couple weeks is kind of a return to normalcy it could've been for a couple of different things. There are some interest rates at jitters people are starting to see. You know vote. The increased likelihood that rates are gonna go up. Terrorism. Kind of complex trading strategies that were employed. Buys them some traders on Wall Street knows. Basically blew up and that those. To kind of working NC you know together brought a lot of the volatility that we've seen that you know I know that it stopped. I know that is no fun to watch and I know that everybody loves to see the market go up and up but really what we're seeing right now is absolutely normal. You financial guys always say don't panic but I regret to lose time to panic what you tell us. Well at outlets and and the thing is that one of the things that we're trying to help people it is just get a sense of perspective try to put everything in some contacts so you know you look at. Good point seventeen it was fantastic right Dow was up like 25%. It was you know bullet you know straight to number one. The problem. Is that we're supposed to seat normal market motives were supposed to seat 5% drops. About five times a year response to see 10% drops about twice a year the problem is. We it's been like nineteen months. Since we've seen it paid off 5% drop in the market that changes people's perspective and then all of a sudden they think that the world. And well but gonna end this just normal market right. How much is it when markets go on good if people jumping in there who don't you may not know what they're doing as far as. Buying selling socks and and net might have an impact. It doesn't so if you don't have a plan that you're just kind of collecting investments. If you like your no no at all brother in law or some co workers they are actually got a totally be in this. You're collecting investments that not going to get you to where you wanna be so yes you're right I mean people in other trading on Monday trading on Tuesday trading on Wednesday but because all of this volatility was happening that's not going to get you to where you wanna be in Tibet. That debt was the little bit of the problem just because people didn't know what they should be doing right now. You know and I'm I'm not a lazy guy ever get through working all day long I don't wanna go home and start trading stocks I just leave it in the four Owen Taylor go most of time but you know it. I I think I'm pretty stable I don't that a get panicky but I know that it's this is very is stocks are very emotional for Schmidt for many people Arctic. It's really happened to one of the first things they do and I mean client that they you know I try to find some way to just leave emotion out of it leave politics out of it try to you know diffuse a lot of the panicked that they may happen panic it's it's a natural response especially if you don't have plans so what I'm telling people on the on the show and I talked to people across the country. You know I'm saying look if you're working with an advisor now is a perfect time to seek to get in for a meeting and to go over your long term plan hopefully they're not just gonna try to study has some you know who's done more product or some magical investment. That they want you to think is gonna solve all your problems they need to be talking with about a plan. So pure advisor is not doing that if you're doing it on your own and you basically stopped in last week's totally freaked you out. It's probably time to talk and some other people because the one thing that's gonna help right now is having that plan that. That set of instructions. To go back to during bad times to tell you how to act. Yeah he's in the underpinnings of the economy seemed to be pretty good and in the employment looks good you know a lot of things are looking real good right now also. And that's what I look at say hey. Why is there any reason for big panic and there's not. You you're dead very intelligent and obvious that this is a market driven event economically things are still sound we've got three quarters US GDP growth that in the back since Tony fourteen financial conditions. Are the most favorable that they've been an eighteen years. Industrial production at the highest it's been like forever and it's not just dot. I mean it the eurozone China we see it is it is coordinated global growth that people cannot forget about. Like it that talked your advisor if your visors of Bozo. Are you proud I know it could play it right a lot of corporate and it is one of the product. Just get them out get out the financial engines dot com find time to talk with thirteen because what you need right now is not more product he need a plan that's gonna get to Torrey wannabe. Andy thanks for you get a get up early this morning I don't I don't really know where you live expose on the East Coast but to. Indianapolis Indianapolis Indiana and at least. Not about or that it that no problem that city it's East Coast to. But when you lose your shell investing since Saturday mornings at nine right here in Kansas right. Absolutely keep adapted let me know I mean I can now have a good week all right. Surveying weather sandy Smith there from investing since Saturday morning nine here on Kansas. 616 now Stephen Ted on K and assistant today is Thursday February 15 2018 on the state. In 1898. You remember Ted I bet betcha that date now but you know what it is and 1898 but it happened 1898. Yet to do with that. And Mexican American and a member of the main the explosion of the and unknown origin and sunk the battleship USS Maine in cubism and apart our way out there now that killed. 260. And fatter America Truman mode mode too much of congress majority of the American public. Expressed little doubt that Spain was responsible call for declaration of war we did have a war was Spain. And Teddy Roosevelt got famous for. Charging up San Juan Hill yet for the remember him remember the main day at and it's and you big east. Have you been Arlington national cemetery before in the of the mast of the main yes is it back there in the back. You can see it and you gap you can just walk right up to you aren't it's coming up on 618 now is Stephen did tiger teed up sport to dead voter to dead. It's time for maybe look at for little revenge tonight for shocker basketball they don't that is that is certainly one of these themes of tonight's game which doctors and their rematch with the temple owls. Eighteenth ranked Wichita State hosting temple tonight at Coke the arena and 6 o'clock tip off. Which to just two weeks ago tonight shocks of the Philadelphia and they lost at temple in overtime missed shots would certainly like to avenge that loss. Let's get some words no shocker head coach Gregg Marshall. We're nineteen and five were nine and three in the league for nineteen in the country on 351. Schools so. We're right we need to be but we need to finish strong and this is going to be the killer of all February's that we encountered yet Cincinnati twice at innocent users already beaten us. Act Central Florida whose very good at home. It's a tie obvious are rich and of course the shocks in tonight begin to stretch the shocks like four games in ten days. Those not a lot of rest and relaxation during this snuff stretch either and all begins tonight the shocker and temple at Coke arena. Mike Kennedy and Dave doll will be on the air with pregame at 5 PM the game will tip off at 6 o'clock tonight. Now be live on 103 point seven KEY and join me after the game I would take your phone calls tonight live at. The soccer locker room show broadcasting from twin peaks in east Wichita at 21 and rock. That's Coker arena we'll see after the game tonight twin peaks the shocker locker room show. College men's basketball last night in Stillwater Kansas State visiting Oklahoma State and placed at K state has been. Frustrated in recent years but not last night. What an effort for the wildcats four players in double figures. Berry brown with a game high 25 points from the junior guard K state wins by ten at Oklahoma State. Wildcats are now eighteen and eight overall holding on to sole possession of fourth place. In the Big 12 Conference. It was that was the first half and actually got the wildcats with a needed to be there when running nineteen to four run. At the end of the first half going into the locker room and and they held the folks off. Throughout the second half. Kansas State making 55%. Of its shots from the field better than 50% and he tapped out. Really nice shooting hats on the road death in a state except eighteenth win in and hold on to fourth place in the conference. Women's basketball at Coke arena last night. In Wichita State side performance for the ages Wichita State women beat temple 8881. Last night. Rainsy bizarre to shocker senior career high 38. Points last night out. The third thirty point game up her career she's only three behind the all time school record Kareem Williams card with a top player got 41 long ago. But that in range he did not score in the first thirteen minutes of the game. We were thirteen minutes in she had zero points in a bunched in temple was doing a great job defending her ninth green tea at one point you said okay enough and since he scored. 38 over the course of the final at 27 minutes of that game he flipped like went well it would it was a beast that's. Nice win for the shocks and what a night for soccer senior greens he'd been so hard. And we did you go men's basketball last night Butler community college on the road at cloud that Dennis Higgins at the quality game and you heard it right here on KM SN. That's those two rats right elbow jumpers know laundry right now by Armstrong on the rightly back atop the block him. Hawkins spotter but three on the way short because the rat traps and welcomes. Home. Oh. My goodness. Rat just dropped off to. Pocket that he interrupted as. I'm bill that is our right handed thundered it home. Butler scored 61. Points in the second half. And be cloud nine B 76 last night Butler has won four of its last five playing good basketball here down the stretch. That's sports with Stephen Ted K in S and catch those nets on fire and a basket got yeah. Dennis was pretty suddenly realized the goods. And if you take compound in its sixth putting aids they're given here for Fox News commentator to Einstein's. Stephen 10 in the morning on Kate and best best.