Mazza: A.I. Not a Bubble, TSLA Transition, Market Path Forward

Market Overview - US stock index futures indicate a higher open, with the Dow, Nasdaq, and S&P hitting records recently [1] - The Federal Reserve has entered a rate-cutting cycle, which is seen as positive for risk assets [2][3] Bull Market Analysis - The current bull market is approaching three years and has been more volatile compared to historical bull markets [4] - Continued momentum is expected due to AI spending and robust earnings, despite economic headwinds [5] Magnificent Seven Stocks - The "Magnificent Seven" stocks are identified as key revenue and profit drivers for the broader market, with significant recovery after recent selling pressure [7] - Companies like Nvidia are actively investing in others, showcasing their market power [8] Individual Stock Insights - Tesla is highlighted for its transition from an EV company to a broader tech entity, with potential revenue from humanoid robots [10][12] - Small-cap stocks face challenges but may benefit from a lower rate environment, which could alleviate their debt burdens [13][14]