NEW YORK, July 6 — Wall Street stocks dipped early today as markets awaited key economic releases and weighed recession fears against the view that equities are oversold.
Adam Sarhan of 50 Park Investment said a “big collapse” in commodities prices has altered the inflation outlook after a decades-high surge in consumer prices over the last year. However, the alternate view worries the upcoming corporate earnings period will showcase a much weakened profit outlook amid recession risk, potentially leading the market lower.