VRTX, CSCO, WMT: Concerns Over Increased Credit Card Debts

We believe July marked the end of this rate hike cycle, notes Kevin Mahn. He questions if this is the end of the rate hike cycle. He talks about how rate cuts are not likely until 2H24. He discusses how consumers have put more and more on credit cards and ended 2Q23 with $43B in credit card debt. He looks at concerns over increased credit card debts. He highlights that biotech companies are becoming more attractive acquisition targets to large-caps. Vertex Pharmaceuticals (VRTX) shares are up 20% in 2023. He then goes over Cisco (CSCO) which has increasingly important cybersecurity software. He also mentions Walmart (WMT) which has an ever-expanding retail and online footprint. Tune in to find out more about the stock market today.