The 'Halftime' Investment Committee debate the catalysts for the market's next move

Consumer Spending & Economic Outlook - Consumer spending remains resilient despite inflation and high credit card debt [5] - Consumers are shifting spending from services to goods due to increased goods prices, with core goods (excluding autos) increasing significantly month-over-month, reportedly at 6%, the highest level in a while [6] - The consumer will continue spending as long as they are employed, even with a slowing job market [7] - Concerns exist about the consumer, but some companies aren't seeing it [3] - Consumer spending through the end of July is up 5% [20] Market Dynamics & Investment Strategies - Fundamentals may be more important than momentum in the market [1] - High cash levels need to be deployed [2] - The market may be overly focused on mega-cap stocks [9] - The market is unusual, with a different cohort of investors less focused on fundamentals [19] - A significant portion (70%) of investment exposure is in big cap tech [22] Monetary Policy & Federal Reserve - Dovish Fed speak suggests potential for two rate cuts this year [2] - Rate cuts are coming, it's just a matter of when [8] Risks & Concerns - There's a danger of being complacent in the market [21] - Cracks in the consumer system could break out at any moment [12] - The labor market showing one more crack could force the market in the other direction [15]