Retail Gloom Spells Stock Market Doom

Real Vision: Finance & Investing

Real Vision

Business News, Business, Investing, News

4.1 • 1.1K Ratings

🗓️ 19 May 2022

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

“This is risk-off behavior returning,” tweeted Michael Gayed less than an hour into today’s trading session, which, two hours ahead of the close, has seen the Dow Jones Industrial Average decline 2.9%, the S&P 500 shed 3.4%, and the Nasdaq Composite nosedive 4.0%. Investors are digesting a second disappointing earnings report from a major U.S. retailer, as Target followed Walmart with more data indicating inflation is, finally, having an impact on U.S. consumer behavior. Gayed, CIO and portfolio manager at Toroso Investments, joins Real Vision’s Ash Bennington for today’s Daily Briefing to talk about how inflation will turn into deflation and why equity indexes are looking at another major leg down. With risk assets highly correlated at present, this is an ominous sign for the cryptocurrency market as well. That’s a major topic of discussion in the debut episode of Real Vision’s Crypto Unwrapped series. We also hear from Jeff Moore about the Federal Reserve being late and bond market volatility. Want to submit questions? Drop them right here on the Exchange: https://rvtv.io/381fvoA. Watch the full interview featuring Jeff Moore and Raoul Pal here: https://rvtv.io/3McSPAj. Watch the first Crypto Unwrapped episode featuring Weston Nakamura, Nicolas Brugge, and Leslie Lamb here: https://rvtv.io/3lkyrS6. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Mailchimp would like to talk to you about customers.
0:03.6	A customer is what happens when marketers fail to personalise their marketing,
0:07.7	grouping customers with very different behaviours into one tangled mess.
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0:22.4	Into it MailChimp, the number one email marketing and automation brand.
0:26.7	Based on customer numbers for verification email, advertising at MailChimp.com.
0:32.0	Inflation. Recession. Stagflation. Just what the hell is going on?
0:38.0	High there and thanks for tuning in to another Real Vision podcast. So what the hell is going on?
0:43.3	We all want to know. Here at Real Vision, we've debuted a special series called Global Recession
0:48.5	is everyone wrong. We've caught on the world's best experts, including Juliet DeClaire,
0:52.9	David Rosenberg, Peter Zahehan, Pierre Andarin, and many more to try and help us make sensitive things.
0:59.3	These real experts will be giving real-vision members in-depth long-form analysis on the real stuff
1:04.6	that's happening. And best of all, you can get access to all 14 days of Global Recession is
1:10.0	everyone wrong for just $1. Yep, $1. So head over to RealVision.com slash Global Recession.
1:17.6	That's RealVision.com slash Global Recession to join us on this epic two-week journey
1:22.8	of discovery.
1:34.5	Welcome to the RealVision Daily Briefing. It's Wednesday, May 18, 2022. I'm Ash Bennington,
1:40.6	joined by Michael Gaia, CIO, and Portfolio Manager at Tarasso Investments. Let's jump right in,
1:47.2	obviously, busy day. Equities just getting smashed right now. Final numbers coming across the tape.
1:53.6	S&P 500 off more than 4% down below 4,000, closing out the day here at 3,924. Nasdaq off
2:03.6	nearly 4. And 3.25% closing out the day at 11,418. VIX over 30 here. I mean, just an ugly brutal day.
	...

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