Recession Fears, Buyback Tax, Shifting Sentiment & Polling Data
By Lori Calvasina
Published August 10, 2022 | 7 min listen
Today in the podcast, we highlight the most interesting chart we saw last week, the most interesting question we got last week, and some noteworthy shifts we’re seeing in some of the high frequency indicators that we track. Three big things you need to know: First, the most interesting chart we saw last week highlights how recession talk among S&P 500 companies is back to 2020 highs. Second, the most interesting question we got last week was on the 1% stock buyback tax in the Inflation Reduction Act. Third, our sentiment indicators, which have been a contrarian buy signal for stocks, are showing some signs of healing which is a positive for the stock market, but some of our political polling indicators are starting to shift in a way that’s unfriendly for stocks and are telling us that we need to keep a close eye on the midterms.
Lori Calvasina
Managing Director & Head of U.S. Equity Strategy, RBC Capital Markets
Lori Calvasina joined RBC Capital Markets as Head of U.S. Equity Strategy in 2017 as a Managing Director. Having spent nearly two decades as an equity strategist at major investment banks, Lori is an expert on the US stock market, and regularly represents RBC in the financial media on Bloomberg and CNBC. Prior to joining RBC, Lori was a senior equity strategist at Credit Suisse from 2010 to 2017, covering Small/Mid Cap Strategy from 2010-2014 and both Small/Mid Cap and US Equity Strategy from 2015-2017. She spent the first ten years of her career at Citi in a variety of roles including lead Small/Mid Cap Strategist from 2007-2010. In both 2008 and 2009 Lori was ranked #2 in the Small Companies category in the Institutional Investor All America Research team poll. Lori is a graduate of the University of Virginia and its selective Government & Foreign Affairs’ Honors Program. In 2019, she was named to Crains New York’s list of Notable Women in Finance.
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