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Fed Preps For Rate Cut Shift | MRKT Call
Dec 14, 2023
Market analyst Dan Nathan, stock trader Guy Adami, and market strategist Liz Young discuss the Fed's preparation for a rate cut shift, the impact of yields and inflation, small caps, XLE, Toll Brothers, and earnings insight in this engaging podcast.
43:31
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Quick takeaways
- The market's expectations and projected growth rates for earnings in 2023 and 2024 are inconsistent, potentially leading to volatility in equity markets.
- The market's disconnect from GDP projections and labor market suggests a potential correction in the future.
Deep dives
Contradictions in Projections
The projections for 2023 earnings and revenue growth show a modest increase of 0.7% for the S&P 500, but 2024 is expected to have double-digit earnings growth at 11.8%. However, the math doesn't add up, as GDP growth is projected to be below trend and inflation is a headwind for earnings. Margin expansion is expected, but cost-cutting options have mostly been exhausted. The market's expectations and the projected growth rates are inconsistent, which could lead to volatility in equity markets.
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