“I would expect the central bank probably to cut.” – 02:07
Matt Cheslock, Equity Trader at Virtu Financial, joins Remy Blaire at the New York Stock Exchange to discuss the current state of the retail market and the implications of upcoming monetary policy decisions. With a significant week for retail earnings upon us, we focus on how American consumers are spending and the broader economic landscape. The annual Fed Reserve Symposium in Wyoming is on the horizon, and we anticipate the release of the Fed Minutes from the July meeting, which could provide insights into future monetary policy.
Matt shares his expertise on the recent market movements. The pair discuss the recent pullback in big tech stocks and the implications for the retail sector, particularly in light of Target’s pre-market shares dropping by about 10% following its latest earnings report. Matt highlights the volatility in the market, suggesting that we may be witnessing a shift in investor sentiment as they react to earnings results.
Matt speculates that a quarter-point rate cut is likely, given the current economic indicators and political influences. He notes that a significant majority of market respondents expect this cut, which could further shape the market dynamics.