Closing Bell: Stocks fall ahead of inflation print, Chips get chopped, SoFi CEO on stock plunge 8/9/22
Stocks fell in another choppy session, with the Nasdaq feeling the brunt of the pain, closing lower by more than 1%. Liz Ann Sonders from Charles Schwab and Tom Lee from Fundstrat discuss their outlooks ahead of tomorrow’s CPI report. Meantime chip stocks were hit hard after Micron warned on earnings. Rajvindra Gill joins to make the bull case for the semis, and Commerce Secretary Gina Raimondo discusses the signing of the CHIPS Act. And SoFi CEO Anthony Noto talks about Softbank’s decision to sell some or all of its stake in the company.
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