AAP Podcast #58 - Back with Bob Lang

Bob Lang joins us on this week’s edition of the AAP Podcast as he chats with Chris Versace about the current state of the stock market, sharing why he sees 2023 closing out on a high note with the upcoming Santa Claus Rally. Moving into 2024 the two talk about the upcoming re-jiggering of Fed voting members, what that could mean for Fed policy, and how upcoming data is viewed. 

Chris gives a few reasons as to why we’re likely to see further progress in the November inflation data, including next week’s CPI report, while Bob shares why he saw this week’s 3Q 2023 Productivity data as very important. The two discuss the market’s expectation for four rate cuts next year and why the market could be getting ahead of itself with that thinking. The two touch on next week’s Fed policy meeting and why they will be closely reviewing the Fed’s updated economic projections.

The conversation then pivots to the holiday shopping season, touching on their boots-on-the-ground observations for Williams Sonoma (WSM), Gap (GPS), Costco (COST), and several other retailers.