Schwab's Kleintop: Market will finish the year with respectable gains

Jeffrey Kleintop, chief global market strategist at Charles Schwab & Co., says that earnings will continue to power the stock market which he expects to overcome current concerns about high inflation and rising interest rates to finish the year with the kind of high single-digit gains he was expecting several months ago when he posted his annual outlook. Kleintop says he expects inflation to calm quickly enough that investors might forego the traditional hedges in favor of international investments, which he says tend to do well in inflationary times and which will outperform the standard inflation-driven portfolio moves. Also on the show, Sham Ganglani discusses Fidelity Investments' latest  State of Retirement Planning study, noting the conditions of the typical retirement saver coming out of the pandemic, and Eric Boughton of Matisse Capital talks about closed-end fund investing in the Market Call.