Terry Sawchuk on Yahoo Finance: Has the Stock Market Hit Rock Bottom?

Feb 4, 2022 | In the News, Video

Any information discussed in this article is for educational purposes only. It is not meant to be any kind of recommendation or financial advice. The information contained in this video is intended for informational purposes only. Any opinions are those of Terry Sawchuk and not necessarily those of JW Cole Financial, Inc. or JW Cole Advisors, Inc.

Securities offered through J.W. Cole Financial, Inc. (JWC) Member FINRA/SIPC. Advisory services offered through J.W. Cole Advisors, Inc. (JWCA). Sawchuk Wealth and JWC/JWCA are unaffiliated entities.

As both the S&P 500 and the Nasdaq Composite posted their worst months this January since the start of the pandemic, it is safe to say the stock market is having a rough start to 2022. To find out where the market may go from here, Yahoo Finance recently spoke with Terry Sawchuk, founder and chairman of Sawchuk Wealth, for insight.

“I don’t think we’ve seen the bottom yet,” Sawchuk tells hosts Emily McCormick and Brad Smith. “I think at least we will need to go back and test the lows and then we’ll see what happens there. They may hold, they may not. When you look at the bigger macro-picture, this looks more like a bear trap relief rally to me than it does a bottom by any stretch.”

With the potential for further market volatility looming, investors are anxiously awaiting the next Federal Reserve meeting in March where it will likely announce not only how often it will raise interest rates but also by how much. Yahoo Finance once again turned to Sawchuk to help investors learn more about what the future may hold.

“I don’t think there’s any chance we are getting a 50 basis point rate hike,” says Sawchuk. “I think the Fed’s going to back off from all this at some point. I think they’re under some political pressure right now to look like they’re fighting inflation, so they’re doing what they’re supposed to do there. But when you look at five dollar gasoline, drops in petrochemical sales, the big macro-picture and the lack of fiscal stimulus, their bigger policy mistake would be to put us in a recession. That’s more likely to be an issue than inflation as we get a little further out.”

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Any information discussed in this article is for educational purposes only. It is not meant to be any kind of recommendation or financial advice. The information contained in this video is intended for informational purposes only. Any opinions are those of Terry Sawchuk and not necessarily those of JW Cole Financial, Inc. or JW Cole Advisors, Inc.

Securities offered through J.W. Cole Financial, Inc. (JWC) Member FINRA/SIPC. Advisory services offered through J.W. Cole Advisors, Inc. (JWCA). Sawchuk Wealth and JWC/JWCA are unaffiliated entities.