The U.S. Consumer Boosts the Stock Market

Real Vision: Finance & Investing

Real Vision

Business News, News, Investing, Business

4.1 • 1.1K Ratings

🗓️ 29 April 2022

⏱️ 41 minutes

🔗️ Recording | iTunes | RSS

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Summary

U.S. equity indexes were well in the green Thursday afternoon despite the fact that gross domestic product contracted at an annualized rate of 1.4% during the first quarter, according to the Bureau of Economic Analysis. Earnings reports continue to reflect consumer resilience in the face of historic inflation, even as the conflict in Eastern Europe metastasizes and the situation in Japan – with the central bank still trying to control the yield curve but the government pushing for a stronger yen – threatens a fiscal crisis. “The bottom line with the U.S. economy is where the breaking point is with respect to the consumer response to ever-rising prices,” notes Peter Boockvar. “We are moving closer to it, and there are signs here and there that we are hitting it. But, from what I’ve heard from company CEOs, we’re not there yet.” Boockvar, the CIO of Bleakley Advisory Group, joins Ash Bennington for today’s Real Vision Daily Briefing to talk about the economy, inflation, and today’s price action. Want to submit questions? Drop them right here on the Exchange: https://rvtv.io/3OCdmQu Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	Do you hear that?
0:05.5	It might sound like nothing to you, but it's actually the sound of nuclear, wind and
0:10.0	solar energy.
0:11.0	At EDF, we're busy generating more British zero carbon electricity than anyone to help
0:16.8	keep future energy costs down for everyone and help cut UK carbon emissions to nothing.
0:22.6	Sound good to you?
0:24.2	Find out more about our zero carbon generation at EDFenergy.com-slashhelp-imprinting.
0:28.3	Welcome to Real Vision Daily Briefing.
0:38.1	It's Thursday, April 28, 2022.
0:40.8	I'm Ash Bennington, joined today by Peter Bookvar, Chief Investment Officer of Bleakly
0:46.0	Advisory Group, Peter Welcom.
0:47.9	Thank you, Ash, for having me.
0:51.2	We're obviously an incredibly busy day in markets and macro today.
0:55.7	Looking out here, it looks like the NASDAQ is up over 3% on the day, closing down here
1:00.4	at 12,871.
1:03.4	Everything up, lots of green on the screen, S&P 500, up about 2.5%, closing out at around
1:08.6	4,300, 4,287, and Dow Jones, also Industrial Average, also up 1 spot, 8,5%.
1:16.8	Peter, a lot happening, lots of moving parts.
1:19.9	What's your big picture?
1:21.0	How are you thinking about this at the 50,000-foot level?
1:25.0	Well, I went to sleep Monday night and I just woke up and the S&P is at the same level.
1:30.3	I don't want to know if there's anything going on.
	...

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