Market Minute with Kenny Polcari: August 1, 2022

by Kenny Polcari
By Kenny Polcari

Last week, the Federal Reserve hiked benchmark interest rates by 75 basis points again. And they left the window wide open for another 75-basis-point hike in their September FOMC meeting.

However, Chair Jay Powell hinted that after that, the Fed could back off … and the market took off!

In the short term, tech names benefitted the most, which makes sense since they were the ones that got beat up the most since the broad sell-offs that gripped the markets at the beginning of the year.

In macroeconomics, the manufacturing and services Producers Price Index reports come out this week. The latter is particularly important, as 75% of the U.S. economy is based on service.

Also, this week, we have more than 150 companies reporting earnings, so it's going to be an exciting one …

 

Just click here to get all the details. Then, be sure to check your inbox tomorrow for the next installment of my weekly video interview series, Wealth & Wisdom. You don't want to miss it.

To your Wealth & Wisdom,

Kenny Polcari
Host

About the Editor

A professional trader since 1981, Kenny began his career with a decade as a trader on the floor of the New York Stock Exchange, ran a division of a major Wall Street bank, and built the U.S. equities business at one of the world’s largest broker dealers. 

Top Tech Stocks
See All »
B
AAPL NASDAQ $164.87
B
MSFT NASDAQ $280.32
B
Top Consumer Staple Stocks
See All »
B
B
PEP NASDAQ $173.85
Top Financial Stocks
See All »
B
B
B
RY NYSE $96.90
Top Energy Stocks
See All »
B
CVX NYSE $153.41
B
SHEL NYSE $51.97
Top Health Care Stocks
See All »
B
JNJ NYSE $170.20
B
LLY NYSE $302.50
Top Real Estate Stocks
See All »
B
PLD NYSE $131.22
B
PSA NYSE $335.71
Weiss Ratings