Market marches on regardless of who next Fed chair is, says Summit Global's David Harden

Economic Overview - The current economy is described as "numb," indicating a lack of significant reaction to various shocks such as federal debt issues, government shutdowns, strikes, and geopolitical risks, which are expected to persist into 2026 [2][3] - Despite these challenges, consumer spending remains strong, and unemployment rates are low, suggesting a stable economic environment [2] Market Outlook - The market is anticipated to continue its upward trajectory, with a focus on AI-related investments and large-cap technology companies, particularly the MAG7 [6][7] - Earnings per share revisions for AI-capital expenditure companies in the tech sector have shown significant improvement, indicating a positive outlook for these investments [6] Investment Preferences - Companies like Microsoft and Google are favored for their strong earnings and involvement in AI, while Tesla is viewed less favorably due to concerns over volatility and recent negative earnings per share [9][10][13] - The AI trade is expected to remain a key area for investment, with a distinction made between outperformers and laggards within the MAG7 [8][7] Tesla's Position - Tesla is currently experiencing high stock prices, but there is caution regarding its future performance due to a lack of recent strong messaging from CEO Elon Musk about the company's direction [12][13] - The preference is to invest in other AI-focused tech companies rather than Tesla at this time, pending clearer signals from Musk about the company's future [13][15]