Breadth Is Deteriorating Again & What To Expect From The Fed

<p>Breadth is deteriorating a bit again, notes Liz Ann Sonders. She discusses how futures are muted as 1Q GDP beats estimates and major indices are higher for the week. She talks about jobless claims for the week of June 24th as initial claims came in at 239K versus an estimated 266K. She then goes over what to expect from the Fed. Powell expects multiple interest rate increases ahead and possibly at an aggressive pace. Liz Ann notes that the Russell 2000 doesn't have a profitability filter, has quite a few zombie companies, and is trading at a forward P/E of 24. Tune in to find out more about the stock market today.</p>