U.S. stocks are down after new employment and jobless claims data released this morning indicated a still-resilient labor market. Private-sector employment rose by 235,000 in December, according to the latest ADP employment report, well above expectations. Annual pay for “job-stayers” rose 7.3%. Meanwhile, new jobless claims came in below estimates. On today’s show, Michael Gayed, the portfolio manager at Toroso Investments and editor of The Lead-Lag Report, joins Andreas Steno Larsen to discuss what signals caused him to switch from calling for a “melt-up” to an “imminent crash” at the end of 2022, and where he believes market conditions are pointing next. Plus, we hear from David Higgins about the possibility of a 2023 recession and why it might last longer than many expect. Watch the entire interview here: https://rvtv.io/3Qg3OvV We want to hear from you, so make sure to get your questions in. Editor’s Note: Our live chat feature continues to be unavailable as we upgrade our video player technology. We apologize for the temporary loss of function. But we assure you, the upgrade will more than justify the wait! In the meantime, we will be monitoring the comments section. So, in addition to conversing with your fellow community members, please share your questions there.