The S&P 500 closed out its worst first-half performance in decades as disappointing economic data continued to dampen market sentiment. Several profit warnings also pressured stocks. Steve Sosnick, the chief strategist at Interactive Brokers, breaks down what to expect in the markets for the remainder of the year amid record inflation. "I think right now is everybody's hunkering down and that means consumer staples, that means that means that the type of stuff that you need to go out and buy regardless," he siad. "For the most part, people still do have money. The employment numbers are good. Most people were able to build up their savings and curb a lot of their debt during the last couple of years, which is great. But people are deciding to be a bit more cautious with their dollars and cents, and so I think you want to stick to the stuff that has lasting demand."