Kudlow: Tech Stocks Still 'Ain't Bad', Even With Correction
*By Carlo Versano*
The White House dispatched chief economic adviser Larry Kudlow to speak to reporters Thursday morning as markets turned deep red in a day marked by volatility and which added to the sell-off in tech stocks.
Kudlow told Cheddar's J.D. Durkin the administration remains bullish on the economy ー and he noted that the tech sector, in particular, was up 50 percent since President Trump's election, "even with this correction."
"That ain't bad," he said.
Kudlow wouldn't disclose whether he advises Trump to speak less critically of the actions of the Federal Reserve ー for which presidents typically reserve a church-and-state type attitude. Trump, for his part, called the Fed "loco" on Wednesday for raising interest rates.
Kudlow told Cheddar: "The advice I give to the president is the advice I give to the president. It's entirely private."
Wall Street Journal reporter Evan Gershkovich lost an appeal Tuesday to be released from jail on espionage charges, meaning he will remain behind bars at least through Nov. 30.
Palestinians in the sealed-off Gaza Strip are scrambling to find safety, as Israeli strikes demolish entire neighborhoods, hospitals run low on supplies and a power blackout is expected within hours.
The U.S. has already begun delivering critically needed munitions and military equipment to Israel, and the State Department now says that at least 11 American citizens have been killed in the weekend Hamas attacks on Israel.
California Gov. Gavin Newsom rejected a bill on Sunday that would have made free condoms available to all public high school students, arguing it was too expensive for a state with a budget deficit of more than $30 billion.
