AAP Podcast #44 - AAP Podcast #44 –June CPI Progress, the Nasdaq 100 Rebalance, and the June Quarter Earnings Season Set Up

On this week’s episode of the AAP Podcast, AAP’s Chris Versace and Smarts editor Todd Campbell review the better-than-expected June Consumer Price Index (CPI) report but share why the road to the Fed’s 2% target may not be as immediate as some are hoping. Todd breaks down the upcoming special rebalance for the Nasdaq 100 (NDX), sharing the ins and outs as well as why investors shouldn’t attempt to game the rebalancing action.

The two then pivot to upcoming bank earnings from JPMorgan (JPM), Wells Fargo (WFC), and Citigroup (C), discussing the recent upward move in big bank EPS expectations and some of the reasons behind that. They also discuss what they will be focused on in those reports, and what signals they will be watching for both the economy and the consumer. Chris and Todd also share why they have some reservations about the consumer entering the December quarter, and why in the coming months they will both be watching real wage growth like a hawk.