“Wall Street has gone from debating how aggressive one should rotate out of tech into cyclicals, to sell it all,” says Edward Moya, senior market analyst for Oanda. “U.S. stocks have been on a rollercoaster ride after abysmal results from Netflix.” With inflationary pressures “not going away anytime soon,” the Fed could potentially become “overly aggressive in tightening monetary policy,” he warns. Stocks are off to a dismal start to 2022 so far.
Markets have struggled to gain footing amid rising investor concerns around high inflation and tighter monetary policy from the Federal Reserve.“Absent some kind of systemic shock, as long as earnings stay solid and interest rates remain in the range we have seen in the five years before the pandemic, stock prices are likely to have a solid foundation over time,” says Brad McMillan, chief investment officer for Commonwealth Financial Network.
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