Market & Economic Outlook - Investors are largely focused on economic fundamentals and earnings growth, with a decent economy indicated by a potential 1.8% to 2% growth [3] - Consumer savings rate increased, providing a cushion for future spending despite negative retail sales numbers [4] - Consumers spend based on permanent income, which remains strong with rising average hourly earnings, creating a favorable environment for stock investors [5] Federal Reserve Policy - The Federal Reserve has been consistently late at turning points, potentially due to focusing on backward-looking data [6] - The current Fed funds rate may be too high, negatively impacting consumers and small businesses while benefiting banks [8] - The Fed may be late in cutting rates and is expected to make adjustments in the fall rather than the summer [7] AI and Technology Trends - Companies are increasingly adopting new technologies powered by AI [20] - Old economy companies, like Walmart and LVMH, are pivoting to digital technologies such as AI and robotics [10] - AI is being utilized across various business functions, including marketing, product development, and supply chain management [10] - AI is improving client support with cost savings of over $2 per event and increased consumer satisfaction [11] - Companies like Accenture are benefiting from helping other companies embrace AI, making them a long-cycle budgetary item [13] - The AI spending is still in early stages, with hyperscalers continuing to invest heavily [18][19] Company Specifics - Microsoft paid $13 billion for 49% of future profits from OpenAI, including exclusive rights to compute power and intellectual property [16] - OpenAI is now objecting to the terms of the deal with Microsoft, seeking to become a public benefit corporation and offering Microsoft 33% of the company [17] - Oracle is experiencing a backlog in demand that they cannot meet, indicating supply constraints across hyperscalers [21]

Ben Snider, Goldman Sachs senior U.S. portfolio strategist, joins 'Money Movers' to discuss markets, reducing recession concerns and slowdown expectations. ...