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

Economic Outlook - The economy is perceived as "numb" due to shocks like federal debt, government shutdowns, and geopolitical risks, yet consumer spending remains resilient [2] - Despite potential risks, the market is expected to continue its course, suggesting a limited impact from external factors [3] - The consumer is anticipated to receive a tailwind in the coming year, indicating a positive outlook for consumer-driven economic activity [4] Investment Strategy - Focus on AI-related capital expenditure and large-cap tech companies, as earnings per share revisions in these areas have significantly outperformed others [7] - The AI trade, particularly in specific outperformers within the MAG-7 (Microsoft and Google), is favored, while Tesla is viewed with caution [8][9] - Microsoft is preferred due to its high-quality earnings and involvement in both AI and the MAG-7, while Google is favored for its return on equity and high profit margins [9][10] - A strategy of avoiding or selling Tesla is suggested due to concerns about volatility and the belief that the company is not effectively leveraging AI [9][10] Tesla Analysis - The market is awaiting Elon Musk's explicit communication of his vision and confidence in Tesla's future, which is currently lacking [14] - Despite Tesla's current performance and all-time highs, other AI tech companies or MAG-7 stocks are preferred for capital spending [13]