Morning Call

“Worldwide Exchange” delivers essential, actionable information and analysis for anyone who wants to be part of the global business conversation. Anchored by Brian Sullivan, the program will prepare CNBC’s worldwide audience with a smart take on overnight U.S. news and live international market action. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

A number of factors are driving the price of natural gas through the roof for many households and corporations. But when will utility prices peak? John Bartlett of Reaves Asset Management weighs in. Plus, the debate over a coming U.S. recession is growing more intense, with Goldman Sachs and Nomura saying an economic downturn is more likely than not. John Stoltzfus of Oppenheimer Asset Management and Andrzej Skiba of RBC Global Asset Management give us their thoughts. And, it’s been a brutal few weeks for the stock markets, as investors weigh more aggressive action by the Fed. Katie Stockton of Fairlead Strategies explains why some “oversold” indicators are flashing and how we could see some temporary relief this week. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

More than half of the stocks in the S&P 500 are now trading below their pre-COVID highs, according to Bespoke. Robert Teeter of Atsilver Asset Management and Kevin Caron of Washington Crossing Advisors discuss which sectors are being hit the hardest. Plus, crypto is stabilizing today after what’s been a rough week for the space, with Bitcoin down almost 30% just this week as interest rates rise and investors sell off riskier assets. Clara Medalie of Kaiko breaks down crypto’s crash. And, it’s been a rough ride for Big Tech, with the Nasdaq falling more than 4% yesterday. Mark Mahaney of Evercore ISI joins us to discuss why tech can’t catch a break. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Investors are still digesting the Federal Reserve’s biggest single rate increase since 1994, hiking by 75 basis points. Jenny Harrington of Gilman Hill Asset Management and Dana Peterson of The Conference Board discuss the short and long term implications of this decision. Plus, Jerome Powell now expects the Fed Funds Rate to increase by roughly 1.75 percentage points over the next four policy meetings to end the year with a benchmark rate above 3%. Priya Misra of TD Securities breaks down what this means for your money. And, with mortgage rates super-spiking in the last few weeks, how does this affect the real estate market and your ability to get a loan? Walt Schmidt of FNH Financial weighs in. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

The head of Ares Management discusses the state of the global credit market. Plus, JP Morgan’s chair of global research, Joyce Chang, says price pressures are going to persist for some time. And, Brian Sullivan details how power customers across the Midwest are feeling the pain of higher bills, as energy costs skyrocket. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

The U.S. Dollar is holding near a 20-year high as markets brace for an even more aggressive Fed rate hike. Geoffrey Yu of BNY Mellon joins us to discuss the rise in the dollar index. Plus, the major investment banks, including JPMorgan, Goldman Sachs, Barclays, and Jefferies are all calling for the possibility of 75 basis point hike. Jon Najarian of MarketRebellion.com gives us his take. And, markets around the world are also seeing heightened volatility ahead of the Fed’s decision. Malcolm Ethridge of CIC Wealth, Ben Emons of Medley Global Advisors, and Mark Mobius of Mobius Capital Partners weigh in on what to expect. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

The global equity sell-off coming off the heals of Friday’s higher-than-expected May inflation report is showing price gains at their fastest pace since 1981, adding to the pressure facing Jay Powell and the Fed ahead of this week’s policy decision and questions about possible changes to its rate hike strategy. Michelle Girard of Natwest Markets joins us to discuss the future of inflation. Plus, investors are fleeing the shorter end of the U.S. bond market as they scramble to price in an even steeper path for the Fed rate hikes. Kamakshya Trivedi of Goldman Sachs gives her thoughts on the week ahead. And, tech’s continued hammering is poised to roll on after a tough week. Richard Kramer of Arete Research dives into whether a bottom could be near. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Wall Street is buzzing as investors await the May CPI report, due later this morning, with price gains remaining at their highest level in 40 years. Sarah House of Wells Fargo tells us what to expect from the report. Plus, stocks in China are rising today, including tech stocks like Alibaba, Meituan, and NetEase. Brendan Ahern of KraneShares, shares what is driving the spike in these stocks. And, despite sky-high inflation, Janet Yellen says that a recession is not likely in the works. Dan Very of Palisade Capital Management gives his thoughts on the strength of the economy. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

The incredible commodity run of the past year continues to roll on. Wheat, orange juice, coffee, cattle, hogs, corn, and soybeans are why the inflation story is so important now. Ed Morse of Citigroup joins us to discuss all things commodities. Plus, it's been a rough time for most sectors of the market, including the midcaps. The S&P 400 Midcap Index is down 11% this year, performing just slightly better than the S&P 500. Amy Zhang of the Alger Mid Cap Focus and Mid Cap 40 Funds makes the case for midcaps and why they're selling at a discount. And, how are the broad markets faring this week following yesterday's drop? Gina Sanchez of Chantico Global and Lido Advisors and Jon Najarian of Market Rebellion give us their takes. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Again Capital’s John Kilduff discusses the squeeze higher diesel prices are putting on the U.S. food supply and shipping network. Plus, Ylan Mui details a new plan being unveiled by a group of moderate Democrats to help ease the strain of high prices on consumers’ wallets. And, Nest Seekers chief economist Erin Sykes talks about affordability, mortgage rates and the lack of new inventory in the housing market. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.