Market Overview & Sentiment - Over 90% of S&P 500 stocks are higher, hitting an all-time high, a situation historically followed by extended bull markets [2][3] - The market is reacting positively to perceived dovish signals from the Federal Reserve [4] - A global bull market is underway, with various indices hitting all-time highs, favoring diversified equity holders [9][10] Investment Strategy & Sector Preferences - The firm favors financials, industrials, and technology sectors [6][7] - The firm is underweight small caps relative to large caps, but acknowledges potential upside if small caps show relative strength [7][8][9] - The firm is underweight bonds relative to stocks, anticipating a potentially dovish Fed and future leadership [12] Interest Rate & Bond Market - Historically, after a pause of 5 months to a year between interest rate cuts, the S&P 500 is higher one year later 10 out of 11 times, with a 14% median return [5] - The two-year Treasury yield has dropped significantly, reflecting market expectations of rate cuts [11]

So, we're going to bring in Loretta Mester, former Cleveland Fed President, uh, to this discussion. And Loretta, it's great to have you on, and I do want to get your thoughts, your takeaways, uh, from Fed Chair Pal, and what he presented this morning. >> Well, a clear indication that he's ready, um, to move rates down, I think, based on the data he's seen so far and what he thinks is likely to happen.And I think of it as being viewed more like an insurance cut against the downside risk to the employment par ...

We've got a newsletter in the tech sector and Steve Kobach has a story for us. Steve. >> Yeah, I got that news alert for you right here.Look at shares of Alphabet. They are hitting session highs on this report that just crossed from Bloomberg saying that Apple is now considering Google's Gemini AI system to power that big AI upgrade for Siri that was delayed earlier this year because Apple couldn't get it off the ground using its own AI technology. We see Alphabet shares up here about 3% Morgan on this news ...

Inflation Concerns - Inflation is too high and has been trending higher [2][3] - The current inflation rate puts a real pinch on lower income households [4] - Inflation has been above the target for four years, requiring control [4] Monetary Policy Outlook - The Federal Reserve chair is open-minded about the right policy stance for September [2] - The current economic situation presents a challenging time for monetary policy [3] - Expectation is that inflation may continue to rise, and unemployment may also rise [3] Employment Situation - The employment side is reasonably close to full employment [2] - Employment has been balanced and healthy for the better part of a year [2] - Unemployment has been pretty consistent in the 4% to 43% range [3]

We are back on halftime with final trading. Steve Weiss, you're up first. >> I bought some verdives.Stocks down over 20% since they reported a great quarter. Data center craze isn't dying anytime soon. >> Kevin Simpson, >> DraftKings football season kicks off this week in Philadelphia.Go Birds. >> Jason Snip, >> Palo Alto. I really like this cyber arc acquisition.I think we'll be a creative to the name. >> Jim Labenthal with the final word. >> Cityroup.And as the old commercial goes, and I'll only do this o ...

As Federal Reserve Chair Jay Powell speaks at the Jackson Hole Economic Policy Symposium, another Fed official remains in the headlines. Former Assistant AG at the DOJ Jonathan Kanter discusses allegations against Fed Governor Lisa Cook. Tennis coach and former pro Brad Gilbert discusses the evolution of tennis and racquet sports ahead of the U.S. Open kick off this weekend in New York. Plus, Elon Musk asked Mark Zuckerberg for help in an OpenAI takeover earlier this year, and Nvidia has reportedly asked so ...

question is, do you buy the meta before the news about them buying cloud services from alphabet. And does this, you know, statement from Jay Powell today. Does it change your mind about meta to either buy more or buy more of those seven names.>> Well, it's always better to buy low and sell high, frankly. So we execute. We executed this trade yesterday in advance of the news.And literally I think we paid 236 yesterday. So we're up almost $20 since then. We were not expecting the big spend for Google.And also ...

CPI may be much higher than expected. >> All that's correct, Frank. There were a bunch of caveats in there.The biggest caveat you did mention, though, that I would say is the one about inflation expectations. He basically said, we are not going to allow tariff price increases to become broader inflation. That's on his watch. He believes that's in his control, and that would mean remaining relatively tight.So you're right. And I think what happened here, Frank, is is he didn't really talk the market down. Bu ...

appreciate you coming on as always. Sasan K. Goodarzi at Intuit.>> Thank you for having me. >> Love that. Super excited about rate cuts.Quote. As the market rallies on the back of those Powell comments, investors are now looking for the next big market catalyst, but that the Nvidia results out of earnings next week. Reports saying that Nvidia asked suppliers to halt production of its made for China chip Kristina Partsinevelos has the latest in today's tech check on just what's expected Kristina and how much ...

There is another issue circulating around the Federal Reserve right now which is this call by the president for Lisa Cook to resign. Um what is your take on this issue that perhaps there she committed mortgage fraud. I know Lisa Cook to be an outstanding economist and a person of high integrity and I think it's critically important that the Fed maintains its independence on monetary policy so we can ensure great outcomes for the American public.Are you concerned that this is a serious thing that that maybe ...