John Petrides from Point View Wealth Management discusses the recent stock market slump and explores whether President Trump's first State of the Union speech will have an impact.
Petrides says the sell-off is the result of four things: Apple cutting iPhone X estimates, the U.S. 10 year climbing to 2.7%, Goldman Sachs warning of a 10-20% correction in the next couple of months, and the end of Janet Yellen's reign as Fed Chair.
Petrides believes Trump's economic message in the State of the Union was consistent. However, he isn't sure if the president's infrastructure bill will ever come to pass.
The return of ‘meme stocks’ don’t mean it’s time to panic about the stock market. If you want something to worry about… look no further than inflation.
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With Gamestop and other meme stocks back on the rise, it brings to mind some similarities between 2021 and 2024 economically… and that’s not necessarily good.
