Friday, May 20, 2022
When Fridays roll around in the Trend Trader Daily Nation, we roll out the charts.
All it takes is a quick glance — and you’ll be up to speed on the market’s most important trends.
This week, I want you to queue up the “Bohemian Rhapsody,” because nothing really matters but…
The latest political polls show President Biden’s approval rating might be the only thing cratering faster than stocks. Particularly with Hispanic voters.
The latest staggering data point from Quinnipiac University came up this morning during my appearance on Fox Business’ Mornings With Maria.
It turns out only 26% of Hispanic voters now approve of how the President is handling his job. That’s down from 55% approval a year ago.
Here’s the thing — regardless of the demographic, everyone agrees that the biggest concern right now is inflation.
You’ll recall, last week I shared that inflation is the single most important thing for investors.
Well, add executives to that list, too.
As you can see below, a record number and percentage of S&P 500 companies cited “inflation” in their most recent quarterly conference calls.
And with another 40 companies left to report Q1 results, it’s highly likely that record is heading higher.
Until we get convincing proof that inflation has at least reached a steady state, expect more market volatility.
As I shared yesterday, the upside to such difficult and volatile markets is that it creates undeniable opportunities. I’ll be sure to share them with you here in the days and weeks ahead while we await the next round of inflation data.
Ahead of the tape,