Daily Briefing: How Will Stocks Respond to Lower Earnings?
Registering yet another 40-year high, the consumer price index for June came in at 9.1% and solidified at least a 75 basis-point move when the Federal Open Market Committee meets later this month. The Bank of Canada broke the seal on 100 basis points today, and the probability of a similar move by the Federal Reserve spiked after this morning’s inflation report. Whatever the magnitude of its upcoming rate increase, what the Fed has already done will likely put the economy in recession, according to Eric Johnston, and that means earnings are likely to come down. Eric, the head of equity derivatives and cross asset for Cantor Fitzgerald, joins Maggie Lake to talk about why earnings will catalyze the next leg down for equities markets. We also hear from Shawn Hackett about how to trade amid a correction in the commodities market. Want to submit questions? Drop them right here on the Exchange: https://rvtv.io/3ayWL0O. Watch the full Interview with Shawn Hackett here: https://rvtv.io/3uJm1Zf.
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