January’s CPI data came out higher than expected Tuesday, sparking a major industry sell-off. SEI Chief capital Officer Jim Smigiel joins Yahoo financial Live to discuss what prompted the sharp downturn in shares.
Smigiel says the sell-off represents “the industry pricing out perfection”. Investors had previously hoped for the Federal Reserve to cut finance charge rates by March amid stabilizing economic data. However, Smigiel notes the hot CPI report showed “this is not going to be a linear path, this is going to be a bumpy road” to the Fed’s rate cuts.
Smigiel notes markets were “definitely overbought”, but this doesn’t necessarily signal “the start of a bad industry”. Rather, it indicates an “entrenchment” in overbought sectors.
#youtube #stockmarket #investing
About Yahoo financial:
Yahoo financial provides free stock ticker data, up-to-date news, collection of investments management resources, comprehensive industry data, advanced tools, and more information to help you manage your financial life.
– Get the latest news and data at financial.yahoo.com
– Download the Yahoo financial app on Apple (https://apple.co/3Rten0R) or Android (https://bit.ly/3t8UnXO)
– Follow Yahoo financial on social:
X: http://twitter.com/YahooFinance
Instagram: https://www.instagram.com/yahoofinance/?hl=en
TikTok: https://www.tiktok.com/@yahoofinance?lang=en
Facebook: https://www.facebook.com/yahoofinance/
LinkedIn: https://www.linkedin.com/firm/yahoo-financial
Disclaimer:
If you own the YouTube channel related to this video and do not want it to be featured here, you can contact us through our contact page. We will gladly remove it without questioning your reason