Mohamed El-Erian explains why he is waiting to put cash to work


Mohamed El-Erian told CNBC on Thursday he’s waiting to put cash to work as the stock market faces more uncertainty due to the coronavirus pandemic

“I have money on the sidelines, and I missed the last rally of the last three weeks. I’m not putting it to work here,” the chief economic advisor at Allianz said on “Squawk Box.”

El-Erian’s comments came after Wall Street on Wednesday suffered its worst day since June 11 due to growing worries about rising Covid-19 cases across the country. The S&P 500 gave up 2.59% while the Dow Jones Industrial Average fell 2.72%. The tech-heavy Nasdaq shed 2.19%, its first negative session in the past nine. 

Dow futures indicated further declines at…


Brokers will have to tell you a lot more about what they are advising you to buy starting next week

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