Closing Bell: Win Streak Snapped, Fade The Rally and Amazon's TikTok Copycat 8/17/22

The Dow snapping a 5-day winning streak following disappointing retail sales data and a huge profit miss by Target, which was forced to slash prices to eliminate excess inventory. Fmr. Macy's CEO Terry Lundgren discusses whether he thinks the industry's inventory problems will be fixed in time for the holiday shopping season. Fmr. Kansas City Fed President Thomas Hoenig discusses how much the Fed will hike interest rates at its next meeting and if he thinks the central bank could pivot to rate cuts next year. Wells Fargo Investment Institute's Scott Wren believes a pivot is off the table and investors should be fading this recent rally, adding this is the most negative he has been on the market in a while. Manhattan Venture Partners' Rashaun Williams explains why he thinks the ice cold IPO market is about to heat up and lays out the top 5 names on his IPO watch list. And UBS's Lloyd Walmsley on whether Amazon testing a TikTok-like feature could be a game changer. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.