The CONVERSATION examines the "fundamentals" driving the market. These fundamentals in the US have not been positive lately, according to DICK BOVE, chief financial strategist at ODEON CAPITAL GROUP. BOVE cites the recent 75 basis points hike by the Federal Reserve, bringing its benchmark rate to a range of 1.5% to 1.75%; two consecutive quarters of declining GDP, tensions over Taiwan, and more. Still, the stock market rallied in July, the S&P 500 up 9.1%, its best month since November 2022.  BOVE explains what is behind this bear market rally. MAT VAN ALSTYNE, ODEON co-founder and managing partner, said much of the market sentiment changed after last week's Fed Press Conference explaining the Fed's thinking in the wake of the rate increase.

With inflation ravaging US households and the Fed in hot pursuit, the CONVERSATION debates whether some companies are extracting higher margins and price gouging in the face of escalating prices for goods and services. Journalist JOHN AIDAN BYRNE notes how soaring prices for food have fueled higher spending on grocery and household products at discount dollar chains, at the expense of more traditional stores. Is this a recession? Listen to the Conversation.

The Conversation looks at the implications of a seemingly newly-emboldened BRICS group of nations—Brazil, Russia, India, China and South Africa—which last month convened and announced the launch of the New Development Bank, taking aim at American-leadership of the global economic order. "I do think it does represent a threat," said BOVE, noting how members have pledged to engage in more business and trade with each other.

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