AAP Podcast #54 – Green Shoots for the Stock Market You Say?

Smarts editor Todd Campbell joins AAP’s Chris Versace on this week’s podcast and as you’ll hear Todd is coming in rather feisty. Hot on the heels of Fed Chair Powell’s appearance at the Economic Club of New York, Todd shares his view that there is simply too much negativity in the market and if you look carefully enough, some green shoots may be emerging.

While Chris doesn’t dismiss Todd’s argument, he shares he will continue to position the AAP portfolio based on the evolving data landscape, particularly for Fed policy. As he points out, while many are focused on whether the Fed will stop hiking rates, when the Fed starts to signal it is ready to begin cutting rates is as important. To that Todd shared he doesn’t see a rate cut coming until this time next year, which is four months later than the market now expects. In defending his rationale, he points out the market has consistently missed the market on calling the moves in Fed policy so far this year.

The conversation continues with thoughts on the 2023 holiday shopping season, Google (GOOGL), and the current earnings season.