Greene: Powell saying markets are overvalued is like saying the sky is blue

Market Overview - The market is experiencing a rebound despite concerns about overvaluation and risks related to inflation and labor weakness, as highlighted by JPAL's comments [1][2] - The AI trade remains strong, with continued positive performance from AI-related companies, indicating that this sector is still in its early stages of growth [3][2] Earnings and Market Sentiment - There is a lull in earnings reports, with significant companies like Costco and Nike reporting soon, leading to a quieter market period until bank earnings resume on October 14 [4][5] - Investors are advised to focus on fundamentals and technicals, tuning out the noise from political and market chatter [6] Investment Focus - The investment strategy includes a diversified approach, favoring sectors such as technology, industrials, financials, and select energy companies [7] - Vulcan Materials is highlighted as a strong investment choice due to its dominant position in the aggregates market, which is essential for construction [8][15] Company Performance - Vulcan Materials has successfully increased its pricing, raising the price per ton of aggregate by 55% over the last five years, despite facing some headwinds [13][12] - The company is well-positioned to benefit from upcoming infrastructure projects, particularly with the Space Force initiative in Alabama, which will require significant concrete supplies [9][14] Competitive Position - Vulcan Materials is recognized for its strong pricing power and high award-winning rate from municipalities, indicating a competitive edge in securing contracts [14][15] - Although Vulcan has underperformed compared to peers like Martin Marietta this year, its potential for future growth remains strong due to its market dominance [12][15]