Stocks Slide - Australian CPI still Too High!
The US market is beginning to roll over badly as forecast, taking other markets with it and Clifford Bennett, Chief Economist, explains why in this video. The Australian CPI data release and the ongoing banking crisis have contributed to a feeling of exhaustion in the market. First Republic, for example, saw a 41% fall in deposits and a corresponding 40% drop in share prices in the first quarter. With pressures building in the background, the banking crisis is not over as many had hoped. Meanwhile Australian inflation was by no means as good as it appeared, raising the possibility of the RBA hiking rates.
Overall, earnings reports confirm that the US economy is slowing down. Corporate layoffs are occurring at all levels, and while there may be moments of hope, such as Microsoft's little stabilization in earnings, the market is not delivering a bull market at the moment.
Stay informed and up-to-date on the latest developments in the stock market by watching this video with Clifford Bennett, Chief Economist. Don't forget to subscribe to our channel for more informative content like this.
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