Ryan Detrick, Carson Group chief market strategist, CNBC’s Mike Santoli and Leslie Picker join ‘Closing Bell’ to discuss the market as we head to a long Memorial Day weekend. For access to live and exclusive video from CNBC subscribe to CNBC PRO:
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BREAKING: Recession News
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The United States economy has been experiencing a period of growth for the past few years, with record low unemployment rates and a stable GDP. However, recent events such as the ongoing trade war with China and uncertainty in global markets have sparked concerns about a possible recession in the near future.
Despite these concerns, Ryan Detrick, Senior Market Strategist at the Carson Group and a well-respected market commentator, has expressed optimism about the state of the economy. In a recent interview with CNBC, Detrick stated that he believes the conditions are not in place for a recession to occur in the near future.
One of the key reasons for Detrick’s optimism is the strength of the US consumer. Consumer spending accounts for roughly 70 percent of the US economy, and recent data shows that consumers are continuing to spend at healthy levels. Retail sales grew by 0.7 percent in July, beating economists’ expectations, and consumer sentiment remains near historically high levels.
Detrick also highlighted the strong performance of the US stock market as evidence that the economy is still growing. Despite some volatility in the market due to concerns over the trade war and other geopolitical issues, the S&P 500 index has gained over 16 percent year-to-date, an impressive return for investors.
Another factor Detrick pointed out is the Fed’s recent decision to cut interest rates in July, which he believes will help to support economic growth. The rate cut was seen as a preemptive measure to counteract any potential negative effects of the trade war, and Detrick believes it will stimulate borrowing and investment in the near term.
Of course, no one can predict the future with complete certainty, and there are always possible external shocks that could derail economic growth. However, Detrick’s confidence in the US economy is based on a range of factors, and his assessment is supported by many other market experts.
As investors and individuals, it’s important to keep a level head and not get swept up in the fear of a possible recession. By staying informed and focusing on the facts, we can make informed decisions that will help us weather any possible economic storm.
Its pretty clear were not having a stock recession. Maybe record inflation but the bottom is already in.
We’re not going into recession? Has he not looked at 8 out of 10 indicators that’s pointing to a recession? I’m telling ya…some of these “experts” either he’s going to be holding a bag, or pumping just to take profits here
Ryan is terrible, world ending he’s bullish. Anyone can do that.
Ryan, please go back under your rock. You have no clue about history. Good God where do these people come from?
Recession averted
I sure hope we get that summer rally, so i can sell everything…
I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market. i was at a seminar and the host spoke about making over $972,000 within 3 Months with a capital of $200,000.
Sad commentary when "financial experts" think 14 years of record low interest rates isnt a sign of a recession, or a depression for that matter.