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US Equities (^GSPC, ^DJI, ^IXIC) are trading lower on Thursday morning, with the Dow Jones Industrial Average off more than 300 points, being weighed down by a drop from Salesforce (CRM). With lingering concerns over higher for longer rates from mixed economic data alongside strong earnings, what does this say for the market moving forward?
SoFi Head of Investment Strategy Liz Young joins Catalysts to give insight into the broader market amid the higher-for-longer interest rate environment.
Young points the uncertainty found in the market: "The fact that growth is still positive and consumer spending is healthy-ish, if not revised downward, I think is a good sign for this inflation fight. However, we do know that this year we're already dealing with yields higher than we originally thought they would be, and for a longer period of time than we originally expected, with some of these recent pops that occur, one of which we just saw, this week on weaker Treasury demand and some other forces in the economy. So we're still yet to be seen whether or not stocks and corporations can withstand this higher-for-longer environment very long."
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For more expert insight and the latest market action, click here to watch this full episode of Catalysts.
This post was written by Nicholas Jacobino