While inflation anxiety seems to have reignited on Wall Street after this week’s hotter-than-expected Consumer Price Index (CPI) and Producer Price Index (PPI) results for January, Freedom Capital Markets chief global strategist Jay Woods joins Brad Smith and Madison Mills on Morning Brief.
Woods says the market’s "silver lining is price action," explaining, "The inflationary data makes us shake our heads and wonder exactly why we’re staying at all-time highs … But when you look underneath the surface, which is the equal-weighted Nasdaq 100 (^NDXE), we’re up all-time new highs. The S&P equal-weighted (SPXEW) is beating the S&P 500 (GSPC), which is market-cap weighted."
The strategist says the equal-weight indexes outperforming market capitalization-weighted indexes signal, "We’re seeing stocks rally stocks that you don’t talk about." He names AT&T (T), Coca-Cola (KO), McDonald’s (MCD), Disney (DIS), and Starbucks (SBUX).
To watch more expert insights and analysis on the latest market action, check out more Morning Brief here.
https://finance.yahoo.com/videos/series/morning-brief/
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