NDR's Kalish: Market is set up for year-end rally, tough start to '23

Joe Kalish, chief macro strategist at Ned Davis Research, says that the Federal Reserve will begin scaling back its rate hikes by March, creating a good environment for bonds and cash to generate a real return with minimal risk. But first, he says the stock market will likely rally down the final stretch of 2022, but that because the stock market has never bottomed ahead of the start of a recession he expects a reversal that takes out the lows before the Fed pivots and the market can start a slow recovery during or after a mild recession in mid- to late 2023. Also on the show, Ed Carson, news editor at Investor's Business Daily discusses the latest IBD/TIPP Economic Optimism Index and how the crush of rising prices at the gas pump outshined the euphoria from dramatically rising stock prices in October, leaving investors feeling more down in the dumps than ever, plus, in the Market Call, Tom Plumb, chief executive officer at The Plumb Funds, talks stocks and valuation and market changes in the current high-inflation, rising rate environment.