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Kevin Simpson: Russia-Ukraine war, oil prices increase chance of a recession

The chances of a recession are higher than Goldman Sachs’s 35% projection, according to Capital Wealth Planning’s Kevin Simpson, who said the Russia-Ukraine war and oil prices increase those odds.

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Watch: Josh Smith on Cheddar News

Markets opened lower as stocks continue to slump on inflation, recession fears. Target shares were in focus as the retailer posted weaker than expected Q1 results, citing higher costs and supply chain shortages. Josh Smith, Co-Portfolio Manager, Capital Wealth Planning joined Cheddar’s Opening Bell to discuss.

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Watch: Kevin Simpson on CNBC Overtime

Kevin Simpson joins ‘Closing Bell: Overtime’ to discuss his view on markets and the impact of inflation on retail names, including Walmart.