PHILADELPHIA—Nationally syndicated host and biblical investing authority Dan Celia takes a look at the trends in the stock market, as well as the influence of political agendas on the economy and inflation.
The Influence Of Political Agendas On Inflation
“It’s hard to think about what’s going to take front and center here in the middle of the week,” Celia commented. “There was so much happening on Tuesday. We saw all the indices in negative territory. The worst downturn was with the NASDAQ by 1.2%. The Russell 2000 small caps on Tuesday was down 1.1%. The S&P 500 was down just under half a percent, but it made many headlines. CDC is reversing its mask policy. We see the S&P 500 drop 1% from its record, falling for the first time. Chinese stocks had a huge sell off for the second day in a row. Investment analysts are warning against buying at these lower prices.”
At the 2021 SALT New York conference, which was held earlier this week, one of the panels on the main stage discussed the best macro shifts coming out of the pandemic and investing in value amid distress. The panel featured: Todd Lemkin, the chief investment officer of Canyon Partners; Peter Wallach, the managing director and Read More
Celia also stated, “Elizabeth Warren, Janet Yellen, and regulators are to address the growing threat of the crypto market. Home prices broke records in May, according to the S&P Case-Shiller Index and on and on it goes.”
“We are getting to the heart of earning season, which one would think would take precedence over everything else, but there’s just too much political news and uncertainty. On Wednesday, Federal chair Jerome Powell will hold a press conference. I do believe that that his statement will likely trump everything else since inflation is still at the forefront of everyone’s mind. We saw some amazing statistics come out about food inflation and other areas that are not going to be temporary. Inflation is not weighing well on consumers.”