Merrill's Quinlan: Market will stay flat until the Fed tightening ends

Money Life with Chuck Jaffe

Joe Quinlan, head of CIO market strategy for Merrill and Private Bank at Bank of America, expects heightened volatility with the market mostly flat until the point when the market anticipates that the Federal Reserve's tightening cycle is about to end, at which point "markets will swing back toward the green. ... The sooner Jay Powell gets it done, the better for the markets and the better for equities." Looking at the market's technical's, Matt Harris -- chief investment officer for The Hausberg Group -- agrees that volatility "is here to stay" until there is some signal that the market trend is changing. Harris says he will not be surprised if the market crashes through two support levels to retest the June lows, though he expects it will be a decline that occurs slowly and with a lot of volatility/movement in the interim. Also on the show, Josh Duitz of the Abrdn Global Infrastructure Income says that the macro drivers for infrastructure -- globalization, upgrades and repairs, urbanization and increased demand -- coupled with current inflationary pressures have created an environment that is solid for recession-resistant infrastructure stocks. Plus, in the Market Call, John Mowrey, chief investment officer at NFJ Investment Group, discusses global value investing.