Devils, Details, and Market Overhangs

By Jack Janasiewicz, CFA®



Jack Janasiewicz presents his observations on the capital markets in this podcast recorded on May 5, 2022.

  • In April, stocks posted their worst month since March 2020, and Nasdaq’s worst month since 2008.
  • As usual, however, the devil is in the details, and in this case the details aren’t screaming recession.
  • In general, corporate earnings season has been largely positive – but forward guidance has been somewhat tepid to bearish.
  • Three key areas of uncertainty are overhanging the markets: China’s Covid policy, the Fed/interest rates/inflation, and the Russia-Ukraine conflict.
  • Sentiment is downright horrendous – but could this be a source of support?
This material is provided for informational purposes only and should not be construed as investment advice. There can be no assurance that developments will transpire as forecasted. Actual results may vary. The views and opinions expressed may change based on market and other conditions.

CFA® and Chartered Financial Analyst® are registered trademarks owned by the CFA Institute.

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