"The Federal Reserve will fight inflation until something it cares about deeply 'breaks'. Avoid going long on equities while the Fed is intentionally reducing money supply and raising the cost of credit. Russia's weaponization of energy and the U.S. weaponization of the dollar have disrupted some long-term networks. China's growth engines are played out with exports and construction and they will need to find new ones to resume growing their economy. Currently, I like the Schlumberger (SLB) stock as it will benefit from spending on oil and gas production that is to likely come. Also, EQT Corp. (EQT) is a large U.S. natural gas producer with low cost production," says Jeff Muhlenkamp.