Joel Elconin - Markets Continue To Correct, Earnings Season Kicks Off, Oil & Nat Gas Breaking Out
Joel Elconin, Co-Host of the PreMarket Prep Show joins us to share his outlook on the now 1 month long market correction. Joel makes the comment that the highs from December could not be touched again for a while.
We delve into the recent choppy market actions, highlighting the drop in broad averages since December and the mixed reactions to economic indicators such as the strong job numbers and sticky/rising inflation. He discusses the implications of limited rate cuts and the potential for long-term stable interest rates.
We cover recent earnings results from Walgreens and Delta Airlines, and the potential re-emergence of value stocks.
Commentary on commodities such as crude oil, natural gas, and metals rounds out the discussion, offering insights into their roles as hedges against market volatility. Finally, Joel emphasizes cautious trading strategies and the significance of upcoming earnings reports and guidance as January is historically the time when companies downgrade guidance.
