Morning Call

The World Economic Forum has returned to Davos, Switzerland for the first time since the pandemic – and at the top of the list of discussion topics are COVID-19 and the War in Ukraine. S&P Global Vice Chairman Dan Yergin joins us to discuss the implications the war has for global energy security and geopolitics. Plus, as the S&P 500 approaches bear market territory, investors are looking to the Fed to see if it can stabilize inflation. But is a recession the only solution? Steven Wieting of Citi Private Bank gives us his take on whether economic fundamentals justify the recent sell-off. And, a new report from Credit Suisse lists 50 stocks that will likely benefit from a strong U.S. dollar, including Home Depot, Target, and Netflix. Patrick Palfrey, co-author of the report, dives deeper into his equity strategy ahead of the trading day. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

What we called a Tech Wreck last week is now becoming a Retail Wreck, as Walmart, Target, and Ross Stores all delivered poor results this week. But are there still investing opportunities left in the consumer sector? Scott Mushkin of R5 Capital joins us to discuss which stocks he’s buying and which ones he’s avoiding in this negative macro environment. Plus, how broken is the market, if at all? Tim Quast of Modern IR joins us break down the three problems with market mechanics that compound volatility. And, with the S&P 500 inching closer to a bear market following another volatile week, investor sentiment seems to be the primary driver of the market. Robert Teeter of Silvercrest Asset Management and Lindsey Bell of Ally Invest give us their takes on if a recession is in store. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Gasoline inventories are going to hit historic lows and distillate over this summer, forecasts Paul Snakey of Snakey Research. He joins us to discuss the emerging crisis in U.S. oil product markets; the current battle between low refining runs relative to all-time record refining margins; and the choice to make gasoline or diesel, both of which are in increasingly short supply. Plus, new reports from Target and Walmart signal that more markdowns and price increases are likely to come. Stacey Widlitz of SW Retail Advisors tells us why free money, artificially high savings rates, and a lack of inventory leading to full price selling is now a thing of the past. And, will the stablecoin challenges seen in recent week lead to a better, strong ecosystem? Blockchain.com co-founder and CEO Peter Smith joins us to explain why he sees the current dip as a “fear based capitulation wave.” Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Brian Sullivan lays out 20 stocks that Goldman Sachs identifies as falling within the bank’s “margin of safety”. Plus, the true cost for truckers filling up with diesel fuel. And, the CEO of CNBC Disruptor Exotec, on how robotics can help address the global supply and labor shortage. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Lori Ann LaRocco discusses the steps China is taking to try to alleviate shipping snags at its major ports. Plus, retail insider Jan Kniffen says Walmart and Target are doing the best job among the major store chains in taking on Amazon. And, Ylan Mui details which candidates in the Pennsylvania Senate primary race are being backed by billionaire investors on Wall Street. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Amid the tech wreck, cloud stocks may offer a silver lining, as the ongoing migration of legacy client-server apps to the cloud signals opportunities in software-based businesses. John Freeman of CFRA Research joins us to discuss which of these opportunities he’s most enthusiastic about. Plus, following crypto’s crash and stablecoin’s collapse last week, do Bitcoin or Terra have futures as payments networks? Lawrence Lewitinn of CoinDesk joins us to give his take on how much damage has been done. And, though investors, consumers, and businesses have benefitted from significant monetary tailwinds in the past, investors can no longer rely on financial conditions to support portfolio growth, says Seema Shah of Principal Global Investors. She joins us to answer the question of everyone’s mind: where are the investment opportunities, and how can investors prepare for anticipated challenges? Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Like many commodities, the cost of fertilizer has been increasing due to COVID-19 related supply chain issues, weather disruptions to shipping and production, energy costs, and geo-political issues. Ken Seitz of Nutrien Ltd joins us to discuss the biggest cost drivers of fertilizer on the market and what the company is doing to deliver high crop yields and maximize productivity. Plus, though the capital markets saw significant volatility, the Dow and the S&P ended the week where it started, unlike the tech sector and the Nasdaq Composite. Ryan Payne of Payne Capital Management joins us to discuss the best opportunities for investors and how volatility can be used as a leveraging tactic. And, the big question on all investors’ minds is when will the economic and monetary backdrop set up to foster stability and a new bull phase? Liam Dalton of Axiom Capital Management joins us to identify the key steps in a necessary adjustment process. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Liquidity concerns around “stablecoin” provider Terra has caused a hit on confidence across the crypto spectrum, with many of the coins seeing major losses this week. Juthica Chou of Kraken joins us to discuss the current state of the crypto market, recent Bitcoin price movements, and hedging inflation. Plus, Disney reported in its earnings report yesterday stronger-than-expected growth in Disney+ subscriptions but warned shareholders that the company is still seeing the impact of COVID on its theme parks. Jonathan Kees of Daiwa Capital Markets America joins us to give his take on why Disney shares have fallen following the report and what’s in store going forward. And, the Rivian stock jumped yesterday, maintaining its 2022 production target to build 25,000 vehicles this year. Dan Ives of Wedbush Securities joins us to provide insight on whether Rivian is worth investing in. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week, it’s all about inflation, with the April CPI, PPI, and Import Prices reports due. Michelle Girard of Natwest Markets Securities joins us to discuss whether she expects today’s CPI report to reinforce the Fed’s current projected rate path. Plus, the Department of Commerce’s investigation into 17.5 gigawatts of solar capacity installations may threaten nearly 66% of the U.S.’ energy plans. Marcelo Ortega of Rystad Energy joins us to break down exactly how this freeze happened. And, Kamakshya Trivedi of Goldman Sachs says that more money is being concentrated in dollars due to the selloff in stocks and bonds. He joins us to give us his thoughts on the demand for major currencies and the likelihood of a recession. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

It’s a big day for high-interest earnings reports, and at the top of the stack is Peloton. But compared to the start of the pandemic, when sales were booming, by how much has demand for connected fitness equipment slowed? Daniel Adam of Loop Capital Markets joins us to discuss why Peloton is still a valuable stock worth substantially more than its current market value. Plus, with global port congestion worsening, and supply chain issues escalating, is there a solution in sight? Michael Tran of RBC Capital Markets gives us his insights on digital intelligence strategies. And, inflation concerns are taking over the market, as NASDAQ is on track for its sixth worst year ever and S&P is down 16% from its all-time high. Chris Murphy of Susquehanna Financial Group and Brian Levitt of Invesco give us their thoughts on which areas of the market may still be worth investing in. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.