 Welcome back to Cheddar News, everyone. That is the closing bell down here on Wall Street. Yeah, Harley-Davidson celebrating the close. Jorgen Zeitz, bring the opening bell as well to celebrate the LiveWire spin-off. He is also the chair and CEO of Harley in addition to LiveWire. LiveWire is the electric motorcycle unit formally with Harley. I now merge you with us back as of earlier today. So good to see him up there. Qualis up there at the Nasdaq in Times Square. Let's take a look at how the stock market closed on this Tuesday. Mixed market, it turns out, on this Tuesday. We've seen a lot of losses of late momentum to the downside, a rising US dollar, higher interest rates, inflation, lower economic growth, all at play here. But the Nasdaq eking out a little bit of a gain, closing up 3 tens of a percent. The S&P shedding 2 tens of a percent. The Dow down 4 tens of a percent. So the Dow, in fact, joining the other major indexes in a bear market yesterday, down 20% from its own recent high, which the Dow booked at the start of the year, believe it or not, what a difference nine months makes. And then, of course, we do see the Nasdaq trying to rally a bit. Some of these big technology names higher today. But it does come as the S&P is looking at its own lowest level since the end of 2020. So certainly still a lot of uncertainty out there about the path forward for the global economy, interest rates, budgets, and the stock market. But let's take a look at some of our stock standouts from the day, starting with shares of the EV charging companies. Some really good news from Washington. For these companies today on the EV front, charging networks, for the entirety of the US now, given the green light, the charging, excuse me, the transportation department approving applications for all 50 states, DC and Puerto Rico for EV chargers covering about 75,000 miles of highway. Well, that's funded by the huge reduction act signed into law by the president. Elsewhere rental car giant Hertz keying up with BP to develop a national network of EV charging stations across the US that'll be powered by BP pulse. The announcement coming a week after Hertz said it was buying up to 175,000 electric vehicles from GM over the next five years to electrify its fleet. And that's stock of 4%. And I do want to take a look at some of the cruise stocks today. Shares of Norwegian, Carnival, Royal Caribbean, all up 3% to 4%. On news that Canada is going to drop its COVID-19 travel restrictions starting next month. Previously, Canada did require COVID-19 testing or vaccines to set sail. Well, the decision is likely going to be a boon for the industry, since Alaskan and Canadian cruises are very popular destinations. And it is Google's 24th birthday. Happy 24, Google. Sparing company Alphabet is our stock of the day. The company just started. It started as just a search engine in 1998. It's grown into a massively successful advertising and cloud computing company. And from its acquisition of YouTube to its launching of the Android operating system, Google is truly a unique company. And certainly one worth highlighting. Let's turn back to the major indexes. Joining me now is Melissa Armo, founder and owner of the Stock Swoosh. Melissa, always good to see you. I know you were kind of giving us a dose of reality the last time you were on. I don't know roughly a month ago. And certainly, the stock market is selling off in the wake of that amid some of these data points coming to light. What is your current take on the stock market? My take on the market is that we're definitely not going to make any new high before the end of the year. We're a long way away from that. As you stated earlier, more than 20% down from the highs. And even though we have three more months left in the year and a couple of days, it's just not enough time for the market to do it. And there's no reason for the market to do it. We are living in a time right now where people are feel very uncertain about the future. As a result of that, nobody wants to step in here and buy the market at these lows. So even though a lot of people were buying dips in 2021 and it worked. The market was extremely bullish. It made lots of brandy-walled demise in 2021 that is not working this year in 2022. And investors are starting to realize that. So we definitely could be lower. We have a big number out at the end of next week, which is the unemployment rate. If you start to see that number tick up over 4% and God forbid it would get close to 5% in the next 12 months, you're really going to see that effect on the economy and in the market because one of the big things that has had a boom during COVID and since COVID has been the housing market. As you mentioned also, with interest rates rising, the housing market is going to start to slow down and many of those companies may unfortunately, like, off. So I think that clearly, right, there is a lot of uncertainty out there. We know that the Fed is going to be raising rates, continuing it seems at the current pace to combat higher inflation. But is there any data, Melissa, any sort of solace that Americans can grasp here that inflation might actually be coming down closer to the Fed's long-term 2% target? Well, they're going to try to bring it down. They're going to continue to raise rates and they stated that they're not going to lower rates once inflation gets back to normal. So I think that's put the market in the last two weeks as well. However, that being said, if you have money in a savings account right now or a money market, you're getting over 2%. If you've got it at the right place, we haven't seen rates like that for a number of years if you're someone that's a saver. So that's one bonus. But if you want to borrow money on a credit card or go out and buy a house, then obviously you're going to pay high rates. I mean, mortgage rates could be close to 8% towards the end of this year at the beginning of next year. And that is a far stretch from where they've been because they were down at two or 3%. While the Fed is going to try to get inflation under control, I think they've missed their mark as far as the timing for that. And I think they should have gotten rates under control a long time before this. And I think there's a lot of factors in play that are going to affect the market, not just rising rates. We still have a situation in Russia and Ukraine that's going to weigh on markets. That situation, even though no one talks about it every single solidary day, that's out there. That's looming out there. Something could happen that could affect markets tragically. I hate to say it, but that's been going on all of year 2022 and we didn't have that last year in 2021 or 2020. All of these things are interconnected and that could affect the market, not just like this year, but even into next year. And again, that's going to affect gas prices. So the Fed can't do anything about gas prices. If gas prices continue to go up, then we have a problem with inflation. No matter what, they're trying to raise rates, but I think they did it too late. And now they're raising up to a point where they're just chomping at the bid here. And I think people are frustrated. They're obviously spending more food, they're spending more for utilities. And all of these are main staples for people when they pay their monthly bills. Look, I don't know how closely, Melissa, you are following Russia's invasion of Ukraine and the geopolitics there, but certainly over these past few weeks, we have started to see signs of an escalation that Russia is continually committed to trying to capture more territory in Ukraine. So the end game has sort of always been uncertain. The U.S. has said it's not gonna intervene on the ground because Ukraine isn't a part of NATO, but how could something like this play out and how would it impact U.S. stocks? It's already impacted stocks. We saw sell-offs this year and we've seen a drive-up in oil prices, so it's already affected the whole world. It's affected Europe actually more than the U.S., but I will say this, as far as what's happening over there, what's the end game? The end game is that Putin isn't gonna stop. So the end game, even though Biden may say that he doesn't wanna get involved, we are involved. We've already given them billions of dollars. We're involved. So I mean, I didn't even say that we're not involved because we don't have troops over there, but we're involved. And I wouldn't put it past the fact that we have to put troops over there because the end game is that Putin wants to take over Ukraine and he's not gonna stop till it's done. So that's the other thing that, again, I don't think people are taking into consideration. Even if the market would get inflation under control in the next six months, if that escalation takes effect and takes hold of everything that's happening, we could get involved in a world war. And I always say to people, the market could be bullish. The market could be great. Borrowing a world war. And it's kind of scary when you think about it because we're all interconnected. So let me ask you this. Given everything that we're discussing, the risks that clearly still exist, the uncertainty, I think even more so to some extent than the risks that are out there, how much further could the market pull back? The market could actually go all the way down to where we were in 2020. And even if we do that, there's people that are gonna be up in their investments, but they'll have given a lot back in their investments from where they were at the previous highs, which was January of 2022. So there could be a lot of pain for people, even though if you go all the way back when Trump was elected in 2016, the market had a huge rally from 2016 to 2020 before COVID hit. So people in their mind though, feel very wealthy when they see their 401k growing all the time, even though it's not real cash or they can cash out of if they're not retirement age without a penalty. But the problem is that people feel poor when they're giving money back, when they see their 401k statement every quarter and there's less money in it, even if they're young, even if they're 30 years old. So I think long-term the market's going to recover. It could be after the next presidential election. It could be 2025, but what happens? So we were talking about the housing market too, as I was mentioning earlier, that if we drop off in that and we go into a housing market recession, that could last two to three years as well till we recover. Because remember, a lot of people overpaid for houses. I know they wanted to, but people were scrambling to find places. But the fact is people really paid a lot and in some cases too much for homes that were paying 50,000, 100,000 over the price of some homes, why some people cashed out and got the benefit of that. There are other people, they're going to be upside down in their homes if in fact the housing market crashes. So all of these things take into effect. But again, the market is very resilient. The US stock market is very resilient, which is why a lot of people love to invest in it. But if you're past the age of 55 or even 60, you may not want to wait it out. So you really need to sit down and look at your portfolio, because absolutely could be dropped. We can all drop all the way down to where we were, the COVID March of 2020. And that's going to be scary for people and scary for the market. Okay, so would you advise that investors maybe sell stocks even at these levels, even at lows that they sell stocks and put it in a savings account? If somebody's over the age of 65 or if they're currently in retirement, they should have done that three, four, five, six months ago. Could they still do that now and save? Yes, they still could if they're okay with that. In other words, if they can't withstand the pain and they need money to live on, are they're going to look at their bank accounts or their investments and they're going to lose sleep at night, if we drop another 20%, then they absolutely should sit down and consider taking some money out because they'd be basically conserving the gains if they've been in the market since 2016 because we're still up since 2016. That's what, that was my whole point. You have to look at it from where we were six, seven years ago where the market still has rallied a lot from those points. So yes, people should sit down and do that and they can put money in a money market and make even up to 2.5%. And again, these are interest rates we haven't seen in forever. I wouldn't necessarily go stick it in a CD because those rates are almost the same as a free money market where you don't have to worry about taking it out with a penalty. So I would look at high yield interest rate money markets and if you're going to lose sleep at night, if we drop another 20%, you just got to look yourself in the mirror, be honest with yourself and say, I'm out, I'm going to put some cash in the sidelines here and I'm going to wait it out. But if you're young, stay in the market because the market will recover. Melissa Armo, thanks so much for your insight. As always, Melissa's the founder and owner of the Stock Swoosh. What next?