Markets in for 'choppy waters' for remainder of 2022, expert says
The recent rally is not the start of a 'leg higher' for the markets, says David Kudla
Mainstay Capital Management CEO David Kudla gives his market outlook for the remainder of 2022.
During an interview on "Mornings with Maria" Mainstay Capital Management CEO David Kudla argued the markets are in for "choppy waters" for the remainder of 2022 due to inflation and the risk of a recession.
STOCK FUTURES CAUTIOUS, OIL FALLS ON RESERVE RELEASE REPORT
(iStock / iStock)
DAVID KUDLA: I think that we're in for some choppy waters through the remainder of 2022. If we look at the first quarter and review, we had the market selling off mostly on the Ukraine war and the issues related to that. We've had a nice rally over the past 10 or 11 days, only 12 of their times in history. We've had this kind of rally over that timeframe. So it's been a nice rally back. But as we look forward with the issues we have ahead of us, with the Fed tightening these- increasing inflation and the risk of a recession in the out months, these markets are going to remain choppy through the remainder of the year. This recent rally is not the start of another leg higher for the stock market.
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Mainstay Capital Management CEO David Kudla weighs in on Biden considering releasing oil from the U.S. reserves and gives his market outlook.