Second Half of Trading, Tech’s Belt Tightening, Kohl’s Crushed 7/01/22
Carl Quintanilla, Leslie Picker and Mike Santoli began the hour by breaking down how investors can navigate the markets for the second half of the year, after the S&P suffered its worst first half in decades. “The Big Short” investor Michael Burry, known for calling the subprime mortgage crisis, warned investors that 2022′s market turmoil is only half finished. The economic uncertainty also led to Meta Platforms joining the growing list of tech companies scaling back their hiring plans. According to a report from Reuters, in an employee Q&A session, Mark Zuckerberg warned that it might be “one of the worst downturns we’ve seen in recent history.” Also in the mix: Kohl’s shares got crushed after ending talks to be bought by Vitamin Shoppe parent Franchise Group.
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