Money Life with Chuck Jaffe
Money Life with Chuck Jaffe is a daily personal finance talk show that airs Monday through Friday. Host Chuck Jaffe helps listeners sort through financial clutter and provides information needed to manage their money effectively. The podcast covers a wide range of personal finance topics, including investing, retirement, and budgeting.
Episodes
Long-short manager Lamensdorf says the market is overdue for a correction
Brad Lamensdorf, manager of the Ranger Equity Bear ETF and Alpha Alts — a new long-short hedge fund set to open soon — says he thinks the market is due for a bear market, and the indicators are starting to show signs of stress, setting it up to get knocked down. He worries the trigger might be what's happening in the bond market, where higher rates are going to slow the economy, triggering a corre
Baird's Diederich: High yields give investors ballast amid A.I. revolution
Gabe Diederich, portfolio manager on the municipal income team at Baird, says that yields are back near the upper end of their recent ranges, "capturing the imagination of investors" searching for income at a time when the stock market is making them nervous. Diederich discusses how artificial-intelligence is impacting bond markets, between municipalities financing infrastructure products or corpo
Merrill's Quinlan: Curb longer-term expectations, but buy the dips
Joe Quinlan, head of CIO market strategy for Merrill and Bank of America Private Bank, says he expects some near-term choppiness, but longer-term he is expecting that volatility to be a buying opportunity because "the S&P 500, the U.S. economy, you want to own it forever." Quinlan says that investors need to recognize that there will be drawdowns, but they are resetting and re-pricing a market and
Seafarer's Foster: For emerging markets A.I. stocks, this is a bubble
Andrew Foster, founder and co-chief investment officer at Seafarer Capital Partners, says he thinks "a bubble has formed amongst certain artificial intelligence stocks, particularly some of those that were propelling Korea higher," but despite that emerging markets are coming out of a lost decade and the "picture in the emerging markets [outside of the inflating bubble] is quite broad-based and go
Alger's Neuman" Profit growth has outpaced stock prices, creating a 'positive setup'
Brad Neuman, director of market strategy at Alger, says the market is wrapping up "one of the strongest earnings seasons in history," which has created "incredible metrics" creating the impression that the market has gotten overvalued while he thinks that stocks haven't been able to keep up with earnings, which actually makes current valuations more attractive even as the market flirts with recor
YNAB founder on how one simple question can eradicate financial worries
Jesse Mecham, founder of the YNAB (You Need a Budget) app, discusses his new book, "Never Worry About Money Again: By Asking One Question," in which he tries to change America's money mindset by getting them to realize that money is a reflection of the efforts, time and inputs that were required to get it, and that spending money should also reflect its true value. By focusing on money's intention
MIT's Pozen: Dump the bonds and diversification to load up on stocks
Robert Pozen, senior lecturer at the MIT Sloan School of Management, says that investors with significant savings should eschew classic 60-40 diversification strategies for a mix that is almost entirely stocks, with no bonds at all. That strategy might sound odd, considering the source — Pozen is the former president of Fidelity Investments — but Pozen contends that long-term investors will be bet
NextGen EMP's Penello: The 'greatest bull market in 60 years' has room to run
Wayne Penello, president and chief executive officer at NextGen EMP, says he expects the Standard & Poor's 500 to double in the next five years, in the "greatest bull market we have seen in 60 to 80 years," though he acknowledges that this kind of rise ultimately will end in a bubble. He thinks the market can rally, with only modest to moderate corrections, before it reaches that crescendo, and sa
CS McKee's Allen: These times are 'the gilded age repeated,' 135 years lat
Brian Allen, chief investment officer at CS McKee, says that while stock valuations are at "heady levels," the current spending expectations for the artificial intelligence revolution can justify those high prices, and even make them seem somewhat cheap. He notes that the current economy seems like "the gilded age and industrial revolution repeated some 135 years later." While concerned with valua
Interactive Brokers' Torres says stocks won't have a down year til '29
Jose Torres, senior economist at Interactive Brokers, says that while the stock market has been climbing the wall of worry, the one thing overcoming many of those worries has been that government policy is pro-business and pro-market. As a result, he doesn't expect the stock market to have a down year while President Trump is in office, despite real economic concerns that are worrisome but not hav
Dragonfly's Harmon: The market's next leg higher is starting now
Greg Harmon, founder and president at Dragonfly Capital Management, says the market's bounce this week is a potential sign that the market's next move higher could be starting now. Harmon says the market is broadening out, and has come through "a great earnings season," creating "a strong market, fundamentally and technically." Harmon sees some potential problems, but he says that the market's abi
U.S. Bank's Haworth: Yes, the market looks like it is setting up a '5-peat' for '27
Rob Haworth, senior investment strategist at U.S. Bank Asset Management, entered the year saying that the stock market could "4-peat," by posting its fourth consecutive year of double-digit gains. While he says now that the market and economy have legitimate concerns to overcome, they also have fundamentals in place to do just that, setting up the potential for a 5-peat in 2027. Haworth does sugge
Nomura's Caruso: Supply chain, high yields and market volatility are opportunities
Anthony Caruso, head of ETFs and product strategy at Nomura Asset Management International, says that while artificial intelligence is driving the market, it is also creating opportunities through its struggles, whether that is by punishing companies in industries like software, or forcing capital expenditures and more. He notes that there are strategies in playing the tight supply chains, particu
Turning Point's Christians: The market's stuck in no-man's land, for now
Dean Christians, lead market strategist at Turning Point Market Research, sees a market that stays in a range-bound no-man's land — the way it has been for a few months now — until late in the year, when there's a strong chance of a year-end rally. Christians says there is a lot of sector rotation happening beneath the surface, with new areas picking up momentum while others, like technology, are
Aristotle's Klingelhofer: A short, steep recession is coming, and is needed
Jeff Klingelhofer, portfolio manager at Aristotle Pacific Capital, says that new Federal Reserve chairman Kevin Warsh is learning on the job, but he appears unafraid to tackle the inflation problem and take the tough medicine of raising interest rates, which is likely to create a recession. The good news out of that trouble, however, is that any downturn is likely to be short-lived, with a rip-sno
AssetMark's Chan: The economy isn't exciting, but it's avoiding trouble
Christian Chan, chief investment officer at AssetMark, says that the overall macroeconomic environment is okay — growing above trend but not at exciting levels — but inflation is worrisome, which should have investors looking elsewhere for diversification and protection. The protection side is because he feels fixed-income investments are not as effective at diversifying risk in an inflationary en
Economist Homkes: 'There are early warning signs to be heads-up about'
Economist Rebecca Homkes, a lecturer at Duke University and London Business School whose consulting practice focuses on the things that influence the thinking of chief executives, says that the valuations of A.I. companies are sky high because investors believe in the transformational technology, but that when that transformation shows up — and investors worry that an industry like software could
Hennessy's Ellison: Lacking patience, investors are being set up for disappointment
David Ellison, portfolio manager for the Hennessy Funds, says that investor expectations have gotten far enough out of line that the positive conditions and long-term market uptrend just don't seem like they are enough to deliver satisfaction. While unsustainable expectations by themselves won't create a downturn, Ellison — who runs two funds focused on financial-services companies — worries that
Economist Kotlikoff: A recession will require panic, and one may be coming
Economist Lawrence Kotlikoff, a professor at Boston University and the founder of Maxifi, says that "irrational exuberance" is something that routinely returns to the market, which is why so many crises over history get labeled with the word "panic," and while he does not see current conditions leading to that yet, he does think the market and economy have significantly more downside risk than ups
New Constructs' Trainer on trouble ahead for Anthropic, OpenAI
David Trainer, founder and president of New Constructs, puts some big-name soon-to-IPO artificial-intelligence companies in The Danger Zone this week, saying he has concerns about what they are paying for inputs compared to foreign competitors, and noting that cost disadvantages will multiply and worsen the more A.I. becomes a commodity that everyone uses. He says this is part of every industrial
Global X's Helfstein: Don't bet against this strong investment cycle, resilient consumer
Scott Helfstein, head of investment strategy at Global X ETFs, says that while the Iran War got the headlines, trade negotiations will be the story that carries the market forward for the rest of the year, provided there are no policy stumbles. He says the market has calmed down around Fed policy and while midterm elections tend to make for tough markets, there have been strongly positive results
Needham's Retzler: A.I.'s 'industrial revolution' won't end with a bubble
Chris Retzler, portfolio manager for the Needham Funds, says that the stock market is benefitting from an artificial-intelligence powered industrial revolution "that we haven't seen the likes of in a very long time," but he says that this will not end the way the Internet bubble did because the players have strong balance sheets and prospects. Retzler thinks there is a strong fundamental story tha
Card issuers are cutting credit limits; here's what to do if they cut yours
Credit expert Gerri Detweiler discusses a trend where card issuers have been re-assessing risk and reducing the credit limits for consumers — even those with good credit scores — and why those moves are a symptom of the economy and the appetite for risk, rather than a reflection of you and your financial habits. Detweiler — who recently wrote about this issue for CardRates.com — says that limit cu
The mistake you make planning for retirement like your parents did
Personal finance journalist Brian O'Connor discusses his recent New York Times article "You're About to Retire. What Are You Doing for the Next 20 or 30 Years?" and explores how retirement planning is pivoting from a focus on the numbers to an emphasis on the lifestyle you want, noting that too many people miss out by putting the math first. O'Connor discusses how and why financial planning has ch
Mark Hamrick: The hallmarks of a recession aren't here ... yet
Mark Hamrick, chief economic analyst at The Hamrick Brief, says that the current affordability crisis has the potential to trigger a recession, if it gets to where there's a slowdown in spending that spills over to impact employment levels. That said, Hamrick says current conditions aren't yet deserving of the label of "economic crisis," even if it feels that way for some individuals and household
Annex Wealth's Jacobsen: Economic expansion will drive growth at least into '27
Brian Jacobsen, chief economic strategist for Annex Wealth Management, says there are signs of a broad-based economic expansion, which gives him a "fairly constructive outlook for the economy over the next six to 12 months," though he is concerned about policy shocks that could unsettle things. Jacobsen warns that investors should not be too excited about situations where the general feeling is "I
CFRA's Stovall: Rising volatility creates buying opportunities with a year-end payoff
Sam Stovall, chief investment strategist at CFRA Research says investors should "be prepared for some additional volatility" at least until and through the midterm elections, but he thinks it represents "a reason to buy, not to bail." Stovall says that he's looking for solid double-digit earnings growth into 2027, and he makes the case that the technology sector has been driving the market higher
Freedom Capital's Woods: Block out the noise, be patient during earnings season
Jay Woods, chief market strategist at Freedom Capital Markets, says that the market has a "Janet Jackson - What Have You Done for Me Lately" attitude, which has made earnings cycles particularly volatile, and he thinks that will be amplified with the earnings on tap right now powering market moves, especially around market misses. While he believes earnings will be strong, he warns in the Market C
TheoTrade's Bierman: 'Get ready for a spectacular year-end rally'
Jeffrey Bierman, chief market technician at TheoTrade — where he runs the Genesis Cog and Burn Signal platforms — says the stock market remains "ridiculously strong," but that won't allow it to sidestep a summer slowdown and a difficult fall, before picking back up with a tremendous rally near the end of the year. He makes it clear that current conditions are not looking like a bear market or a bu
Argosy's Stewart: An 'under-housed' country is creating opportunities
Andy Stewart, co-chief executive officer at Argosy Real Estate Partners, says that housing affordability issues that have made headlines are real and persistent, but there are some solutions over time, coming from building smaller homes, changes in interest rates and in public policies like the new affordability legislation that became law on Friday. It also means there are big opportunities in th
Stack Financial's Jonson foresees a 'bear market waterfall' ahead
Zach Jonson, chief investment officer at Stack Financial Management, says the stock market is building towards "one of the biggest or largest bear markets of our generation," but he says that decline will impact passive, broad-index investors the most. "We see a true long-term, 12- to 18-month, 45 to 50 downturn, and that's in the S&P; if you look at the Nasdaq, you could really see some losses t
Evanston Cap's VanGelder: Complicated global picture creates intriguing opportunities
Kristen VanGelder, co-chief investment officer at Evanston Capital — a firm that manages hedge funds built out of hedge funds — says that sophisticated money managers have very different sentiments about current market conditions than Main Street investors, noting that where average investors are showing lousy sentiment numbers, sharpies are leaning into the market's increasing "dispersion" and th
Calamos' Freund: 'It's very hard to be pessimistic about the broad market'
Matt Freund, co-chief investment officer at Calamos Investments, says a resilient economy is producing "shocking numbers for a mid-cycle economy," powering through problems in a way that puts the Federal Reserve on hold, avoiding interest rate hikes this year and returning to a bias towards cutting in 2027. Freund thinks that it's "back to the future" for the Fed, with new chairman Kevin Warsh bri
Cambria's Faber: 'The bull market in diversification has begun'
Meb Faber, chief executive and chief investment officer at Cambria Investments, says that large-cap domestic stocks have done so well that it has masked the rise of the rest of the investment ecosystem, but now that he expects recent good times to be balanced out by tougher stretches ahead for the Standard & Poor's 500, investors will want to take advantage of small-cap stocks, foreign stocks and
S&P's Gruenwald: Expect a slow, steady economy with rates in 'a hawkish hold'
Paul Gruenwald, chief economist at S&P Global Ratings, he expects that the Federal Reserve's next move on interest rates will be a cut, but says it won't happen until 2027, which he described as a one-year delay for the central bank to get back to more neutral levels. Gruenwald says it's a "hawkish hold," with the Fed being prepared to raise rates but hoping to hold off. Gruenwald says that effort
Franklin Templeton's Dover: This market's not 'expensive,' just 'fully valued'
Steven Dover, chief market strategist at Franklin Templeton, says there is still more upside to the market, based on earnings growth, noting that the economy and stock market have been resilient due to the "phenomenal" profits companies have been generating. Dover notes that the market is fully valued, but not expensive; "We think earnings this next year could be [up] 15 to 20 percent, so the mark
Argent Trust's Stringfellow: Market is rounding out, not signalling big trouble ahead
Tom Stringfellow, chief investment strategist at Argent Trust, says the stock market is going through a shift where small-cap companies are coming to the fore, businesses that are adjacent to artificial intelligence or that will benefit from using it are starting to get an A.I. boost and the warning signs feel mostly like distant storm clouds. Stringfellow says he doesn't see signs of recession, w
Wells Fargo's Samana: Technicals are telling investors to 'Play on!'
Sameer Samana, head of equities and real assets at the Wells Fargo Investment Institute, says that as long as the market keeps making higher highs and lows, investors should use technical indicators as a North Star to stay in the game and ride the market higher. Samana says the market's move to record levels says that broader economy is strong enough to keep the market rolling with a "turbo-boost"
BNP Paribas' Morris says the big worry now is economic 'overheating'
Daniel Morris, chief investment strategist at BNP Paribas Asset Management, says that his primary concern right now is the risk that the economy could overheat, thanks to above-trend growth and inflation that could prompt the Federal Reserve to raise interest rates in an effort to slow things down. If that fails to cool inflation, the economy could then struggle and the market could step far away
ChartPattern's Zanger: The market 'needs some Prozac, that's for sure'
Veteran analyst Dan Zanger, chief technical officer at ChartPattern.com, says the market right now is showing swings and moves that are reminiscent of the Internet bubble days of 2000. While that doesn't mean the market is headed for the same result, he says it creates more challenges for traders and investors, in part because they are trying to read the market off of wild swings and fast reversal
3Edge's Folts: Be diversified, because 'It's impossible to game where this goes'
Fritz Folts, chief investment strategist at 3EDGE Asset Management, says he has pulled back slightly on equity exposure but gone deeper into a diversified approach because the market has been crazy, driven by investors' fear of missing out, sky-high expectations and more, to the point where the key is to participate and not be wrong because you are taking chances on what amounts to a wild guess. I
Schwab's Sonders on the need to diversify your strategy in A.I.
Liz Ann Sonders, chief investment strategist at Charles Schwab & Co., says that "there is so much short-attention-span money driving the market right now ... looking for the shiny new object," that investors want to diversify throughout artificial intelligence businesses, taking profits and rebalancing especially when specific stocks go parabolic, to capture profits and avoid some of the volatili
Allspring's Bory: Bond investors should capture the Fed's 'uncertainty premium'
George Bory, chief investment strategist for fixed income at Allspring Global Investments, says the market is "overshooting" in expecting considerable rate hikes soon. He thinks the central bank will be patient, and that the Kevin Warsh regime got off to its intended start last week by giving less guidance and accepting more volatility as a result. He suggests that investors should look to capture
StockCharts' de Kempenaer; Don't jump in front of this 'freight train' of a market
Julius de Kempenaer, senior technical analyst at StockCharts, says the stock market right now is "technology against the world," and he expects that it will turn and correct, but he's not willing to put his portfolio on the line and move early, because it would put him in the path of a speeding "freight train." de Kempenaer says he can "hear what the bears are saying," and doesn't necessarily disa
John Hancock's Miskin says IPO boom could be a sign of a bubbly market
Matthew Miskin, co-chief investment strategist at John Hancock Investment Management, says that the current stock market has been driven to record highs on the back of strong earnings that have overpowered economic concerns, but he notes that the stock market bubble that inflated during the Internet boom of the late 1990s grew on the backs of companies with no real earnings. As a result, with IPOs
Interactive Broker's Sosnick: 'I can't fight the tape, but I can't embrace it either'
Steve Sosnick, chief market strategist at Interactive Brokers, entered the year expecting the stock market to be down in 2026, and while stocks have overcome the gravity he saw weighing it down, he thinks there is trouble on the horizon. "We've become very detached from basic fundamentals and very much focused on ... betting the longshot, that it's going to come in," Sosnick says in today's Big In
Value investor Davis on how investing is changing in the age of A.I.
Chris Davis, chairman and portfolio manager at Davis Advisors discusses how every technological revolution — dating back to the days of the printing press but extending to the artificial-intelligence boom bow — goes through the cycle of "Amara's Law," in which the effects of a technology are overestimated in the short run but underestimated over the long term. As a result, Davis says investors are
Man Group's Hooper: A priced-for-perfection market is poised for trouble
Kristina Hooper, chief market strategist for Man Group, says the market is entering a "greater discernment phase," where companies have been priced for massive growth and "incredibly high standards," setting up potential disappointment as investors become more picky while the AI revolution plays out. Hooper says this is a natural progression, one that investors saw during the Internet boom, as it
Northwestern Mutual's Schutte: 'We're in economic cycle overtime'
Brent Schutte, chief investment officer at Northwestern Mutual Wealth Management Co., says that the current economic cycle is in "overtime," a point where the stock market gets narrow. As the cycle ends, however, he expects the market to broaden out, which could carry it higher, just driven by small-cap stocks and other industries. As a result, he says investors should stick to their plans and not
Glenview's Stone: 'Earnings are the fuel that sends stocks higher'
Bill Stone, chief investment officer at Glenview Trust, says that the stock market "continues to price in that the Iran conflict is going to be over [soon]," which has kept the focus on blockbuster earnings numbers, which have been so strong that they have overcome virtually all economic and stock market concerns. He expects that earnings trend to continue, powering the market through some summer
Crossmark's Fernandez: Market needs a pause, but can regroup by year end
Victoria Fernandez, chief market strategist at Crossmark Global Investments, says that she is expecting the market to suffer some late summer doldrums as seasonal economic impacts end and mid-term elections put their traditional damper on enthusiasm, but that there will be some support for the market near year's end, making for "a positive year, but nothing like we've seen in the last two years."
Bridgeway's Pozharny: AI infrastructure boom 'will make builders poor and users rich'
Jacob Pozharny, portfolio manager for the Bridgeway Global Opportunities Fund a market-neutral fund that looks at global macro factors — says that every infrastructure boom in history has led to massive capital expenditures, to the point of over-capacity, then demand destruction and a cycle that leaves users better off but hurts the companies that get caught in the mix. He cites railroads, teleco
NDR's Kalish says solid fundamentals will keep overpowering global econ worries
Joe Kalish, chief global macro strategist at Ned Davis Research, says 2026 has had surprising narratives but unsurprisingly solid results, and he expects that to continue, without significant recession risk or big trouble ahead. Kalish discusses often overlooked economic numbers, like a financing gap where demands to fund capital expenditures outstrip available capital and the level of real gross
Bullseye Trades' Bishop: 'I think it's a dangerous time in the market here'
Long-time technical analyst Jeff Bishop, head of Bullseye Trades, says the stock market is "priced to perfection, perfection, perfection," and while he isn't saying stocks are overvalued, they are at least fairly valued, which means the stock market here has more downside risk than upside potential. As a result, Bishop says that while he is trying to wring the last of the momentum out of the marke
Financial history shows that the American Dream is alive and achievable
Joseph S. Moore, author of "How to Get Rich in American History: 300 Years of Financial Advice That Worked (& Didn't)," says that America is dealing with "Big Woe" (as in "Woe is me"), but that examining the past makes it clear that "The American Dream is alive and well." Moore points out that what people think is unique today has all been played out in the past, comparing cryptocurrency to the th
ICON's Callahan: Earnings and value are growing; prices are 'trying to keep up'
Craig Callahan, founder and chief executive officer, ICON Advisers — manager of the ICON Equity fund, which is up more than 25% year-to-date — says the market, even at record highs, is right around fair value, meaning he doesn't see over-pricing or investor behavior typical of market peaks. As a result, so long as earnings stay strong — and he describes current earnings as being at levels of "craz
LPL's Turnquist: Market's winning streak portends strong run to year's end
Adam Turnquist, chief technical strategist at LPL Financial, says it's "hard to argue" with a stock market that has returned to record high levels on the back of a 9-week winning streak for the Standard and Poor's 500. Turnquist says that kind of streak has only happened 10 times before, with the momentum leading the market higher a median return of 8 percent six months after the streak. Turnquist
New Constructs' Guske on how SpaceX stock may implode upon launch
The big story in the week ahead is expected to be the IPO of SpaceX, and Kyle Guske, investment analyst at New Constructs, says this deal is ugly right from the jump, putting the new stock in The Danger Zone before it even goes public. Guske notes that SpaceX has no earnings , a negative economic book value, a share structure that leaves virtually all control with Elon Musk, and that nearly all mo
Wells Fargo's Cronk: Raising rates in an oil shock 'is a categorical mistake'
Darrell Cronk, chief investment officer at Wells Fargo Wealth & Investment Management, says he expects inflation will top 4% during the summer, which will put pressure on the Federal Reserve to hike interest rates, but that could dramatically increase the potential for recession because rate hikes and oil-driven inflation stocks, historically, have been a recipe for trouble. Cronk, who also serves
Resource investor Rozencwajg: Today's oil 'shock' is tomorrow's building catastrophe
Adam Rozencwajg, managing partner at Goehring & Rozencwajg — a firm that focuses on natural resource investing — says that the war in Iran has already created "the most severe shock to energy markets in history," which he says is three times more severe in terms of barrels produced than anything seen in the 1970s, and that the situation will get markedly worse from here. Rozencwajg says that it ta
Investors haven't 'planned for enough,' particularly with inflation
Long-time personal-finance commentator Paul Merriman, founder of the Merriman Financial Education Foundation says that investors haven't taken inflation into consideration the way they have investment returns, and that has the potential to leave them "at risk of being disappointed." Merriman says that investors should "Take 2 percent off of the return for the purposes of thinking about the future,
AAII's Rotblut on the potential meaning of 'vanishing optimism'
Charles Rotblut, vice president for the American Association of Individual Investors — overseer of the AAII Sentiment Survey — discusses the dramatic drop in bullish sentiment last week and how the big spread between bullish and bearish investors increased so dramatically that it teeters on the edge of becoming a contrary indicator. The sentiment survey has a history of showing that when emotions
Voya's Stein: Rates are rising now so they can fall again soon
Eric Stein, chief investment officer at Voya Investment Management, says that investors can expect interest rates — particularly on longer-term bonds — will keep rising, but those higher reates "will lead to lower rates because you will see a response on the demand side whether it's through the consumer or through the [capital expenditures] cycle." Stein says that if "demand destruction" doesn't
KraneShares' Ahern: China's 'not all rainbows, unicorns,' but it's no 'apocalypse '
Brendan Ahern, chief investment officer at KraneShares — which manages a number of funds tied to China — says that President Trump's recent trip to China was viewed very differently overseas than it was in America. In China, the trip was viewed very positively for establishing trade boards, improving communications and laying a foundation for future negotiations. Domestically, however, the view o
XYPN's Almeida: 'The biggest risk in front of us is geopolitical risk'
Andrew Almeida, director of investments at XYPN, says that investors shouldn't be too active in responding to the news, but he says that geopolitics is a real threat to portfolios, especially as current tensions linger and change the inflation landscape. Almeida — co-host of XYPN's new Balanced PM podcast, which launches today — notes that the risks you take in reacting to the news are at least as
Zacks' Blank: Oil shock will trigger rate hikes and, possibly, recession
John Blank, chief investment strategist and chief economist at Zacks Investment Research, says that global central banks — including the Federal Reserve — have shifted to a rate-hiking mode. While some will wait to see when the Strait of Hormuz opens and how long higher oil prices impact inflation, he thinks the lingering tensions will force their hand. Further, he worries that the market's curren
SLC's Mullarkey: Market needs war resolution, or an inflection point is coming
Dec Mullarkey, head of investment strategy and asset allocation at SLC Management, says that earnings are strong and should keep the stock market rolling, but that signs of weakness shown by the bond market and concerns about how the war in Iran is impacting oil are going to be limiting factors. Mullarkey worries that a longer conflict could turn oil into a global crisis, where rationing and other
DeCarley's Garner: Market is 'starting to get wildly overdone'
Carley Garner, senior commodity strategist at DeCarley Trading, says the stock market looks unbalanced to her, with the current rally built around mechanical issues, like an explosion of option sales that impact market performance. She is expecting a pullback, and says things could get ugly — with the Standard & Poor's potentially losing at least 1,500 points, — about 2,000 points — which is why s
Baird's Mayfield: The Fed is done cutting; market's not done rising
Ross Mayfield, investment strategist at Baird, says that the Federal Reserve "is going to be very hard pressed to find a reason to cut [rates] here," and he thinks that if the central bank does have to make rate reductions down the road, "it won't be for reasons investors would be excited about." Mayfield says he remains bullish, noting that "a consolidation period is probably in order," setting u
ProShares' Hyman: Earnings will keep powering market past headlines
Simeon Hyman, global investment strategist at ProShares, says that we have "had the most stunning earnings season in pretty much anybody's recollection," exceeding expectations and making it that the market is more focused on the earnings story than anything else, including bad news about war, inflation and more. He sees that trend continuing, even if inflation rises or stays sticky, until or unle
Sanjac Alpha's Wells: Interest rates will rise this year, even if the Fed cuts
Andy Wells, chief investment officer at Sanjac Alpha, says he expects the stock market to continue on its positive roll and wouldn't be surprised if it's up by about 6% from current levels over the next six months, but he also says that investors should expect interest rates to go up this year — even as he thinks the Federal Reserve will look to make a cut — because there is so much incoming bond
Does the media's soft vs. hard data coverage mislead investors?
Vince Duffy, news director, Michigan Public, joined Chuck at the Society for Advancing Business Editing and Writing Conference in Philadelphia to discuss how the media handles its coverage of soft versus hard data and whether those stories — and others — are politicized. Duffy also talks about coverage priorities and the difficulties of balancing news that consumers need with the things they most
Touchstone's Aarts on why oil prices are causing higher bond yields
Erik Aarts, senior fixed income strategist at Touchstone Investments, says the last few weeks have shown a disconnect between stock and bond markets, with the bond markets getting particularly cautious while stocks have raced back to record highs. What the bond market is worried about, Aarts says, is that higher oil prices will bleed into another round of higher inflation. ... At its base case, t
Westwood's Sanghani on how war has changed the oil demand outlook for years
Parag Sanghani of the Westwood Holdings Group, manager of the firm's Enhanced Energy Income and Enhanced Midstream Income ETFs, says that the ongoing war in Iran has pulled volumes from inventories early, creating synthetic demand that will keep prices higher for several years. That benefits the oil companies and stocks that Sangahni likes, but it hurts by creating a tax at the gas pump, which he
Ocean Park's St. Aubin: Market is overvalued but downside risk isn't too high
James St. Aubin, chief investment officer at Ocean Park Asset Management, says that the stock market's flirtation with record highs is showing some overvaluation — increasing the potential downside risk — but he only expects that risk to be realized "if the narrative changes, if something comes out of left field that shakes the whole foundation of what is building market optimism today." His most
Commonwealth's McMillan: Trouble's still coming, but not for a while
Brad McMillan, chief economist for Commonwealth Financial Network, says that there's "an enormous feel-bad headline economy," but the underlying fundamentals are solid enough to keep earnings growing, which will make it that the market does well, or at least avoids a protracted, deep downturn. McMillan worries that when the supply-chain breaks for food, for holiday shopping and more several months
Channel Capital's Roberts: Markets will stay happy with even a hint at rate cuts
Doug Roberts, chief investment strategist at Channel Capital Research Institute and the author of "Follow the Fed to Investment Success," says that it doesn't matter much to the stock market when a rate cut happens, so long as investors can expect decline and believe the central bank will step in with one if employment numbers change significantly. Roberts says that the market wants to know that "
Northwestern Mutual's Stucky on why earnings growth overcomes headline risks
Matt Stucky, chief portfolio manager for equities at Northwestern Mutual Wealth Management, says in the Market Call that scary headlines over higher gas prices, inflation and war haven't created a significant headwind to overcome the solid earnings growth picture. Stucky adds that beyond the earnings results, the economy is benefitting from tax and tariff reductions that are helping to balance out
Rayliant's Hsu on a resilient market that is 'separated from reality'
Jason Hsu, chief investment officer at Rayliant Global Advisors, says that "thee's the real economy and there's what the S&P 500 and Nasdaq are measuring" and they're different, which is why it's "not crazy for the stock market to reflect something almost separated from reality." As a result, consumers can freak out at what they see at the gas pumps and grocery stores and concerns over war can be
Water Tower's Severson: The economy sees $75 oil 'as the new $60'
Shawn Severson, chief executive officer and the head of market and thematic research at Water Tower Research, says that oil futures prices looking out into 2027 and reacting as if "$70 is the new $60," a sign that the market does not think any oil shock will be long-lasting. Meanwhile, he says that the economy's continuing strength is showing that it can absorb and tolerate higher inflation and ot
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