That is the closing bell on Wall Street and now it's market domination overtime. We have team coverage to get you up to speed on the action from today's trade. Want to bring in now Michael Green, chief strategist at Simplify Asset Management and we got Yahoo Finances Jared Blickry.Jared, let's start with you on that close. All right, we were drifting down in the Dow. Still managed to close in green territory for the day and also for the week, but we only added about 34 points today.Let's check out the 5-day ...

But joining us now is Anisha Sherman of Bernstein. She has a buy rating on the stock. Anisha, it's great to have you here and let's start right there.Do you buy Tapestry here. And if so, why. >> Yeah.So, I was surprised at the magnitude of the reaction. Um, you know, look, the the stock was priced for perfection. It had been up 74% year-to date up to that point and the guidance was a little bit low.So, I did expect a bit of a pullback, but the magnitude of pullback was surprising because the reason the guid ...

And this week's economic reports haven't made it easy to decipher the state of the economy. This morning's retail sales showed consumers kept spending in July, but consumer sentiment for the month month dropped to its lowest level since May. These reports come after yesterday. We saw wholesale prices rising far more than expected, but CPI was lighter than expectations, at least on the top line. Joining us now is Gene Sperling, former director of the National Economic Council under President Obama and Presid ...

Tariffs and Trade Policy - The market initially reacted negatively to tariffs, but has since shown little effect on corporate earnings or economic data [2] - The market's benign neglect of tariffs may embolden further tariff increases [3] - Potential tariffs of up to 300% on ships entering America are being considered [1] - The administration's long-term commitment to tariffs is questionable, impacting the potential for bringing manufacturing back to the US [4][5] Artificial Intelligence and Corporate Earnings - Artificial intelligence (AI) has the potential to more than offset the negative effects of globalization on corporate earnings and profit margins [6] - Identifying long-term winners in the context of AI is a key question, as early winners may not be the enduring ones [7] - AI can be applied to various industries, such as healthcare research and development, representing a long-term play [9] Market Sentiment and Economic Data - The market exhibits mixed signals, allowing individuals to project their views and find supporting evidence [12] - Secular growth themes are currently more important than trickling economic data points [13] - Record highs in crypto and IPOs, along with the resurgence of meme themes, indicate speculative froth and complacency in the market [14] - Valuations are priced for perfection, suggesting potential near-term volatility [15]

Trade Policy - The U.S President plans to impose tariffs on semiconductors within two weeks [1] - This action suggests a significant increase in the current tariff system [1]

Switzerland’s economy unexpectedly grew in the second quarter before the country was hit with one of the highest US tariff rates https://t.co/qHXVeVyKrk ...

Oh boy. Treasury Secretary Scott Besson recently did an interview and he says tariff income is going to be over 1% of GDP. I I'd been saying 300 billion, but I think we're going to have to substantially revise that up.So well in excess 1% of GDP. And then with the new investment there, the sovereign investments that we talked about, but then in terms of the committed investment by private industry, we're well over 10 trillion. Regardless, whatever you think about the tariffs, whether they work or don't work ...

Summary of Morgan Stanley Global Macro Forum Call Industry and Company Involved - **Industry**: Global Macro Economics, focusing on US CPI and Asia Tariffs - **Company**: Morgan Stanley Key Points and Arguments US Consumer Price Index (CPI) - Core CPI is expected to rise by 0.32% month-over-month (3.04% year-over-year), up from 0.23% in June, indicating an acceleration in inflation pressures [5][57] - Headline CPI is projected at 0.25% month-over-month (2.76% year-over-year) [5][57] - The increase in core CPI is primarily driven by core goods, with categories exposed to tariffs showing signs of pass-through, while services remain stable [57] Tariff Impact on Asia - US trade-weighted effective tariff rate on imports from Asia has increased significantly to 25%, compared to 5% at the beginning of the year [13][57] - Asian currencies are appreciating in this cycle, contrasting with the previous cycle in 2018-19 [15][57] - The tariff burden on Asian economies is substantial, with initial signs of impact on capital expenditure (capex) cycles [17][57] - Aggregate demand in Asia is likely to have continued to slow down in July, with the PMI remaining in contraction mode [29][31][57] Economic Outlook for Asia - Despite favorable domestic fundamentals in India, external challenges such as China's deflationary pressures and rising tariffs are present [57] - The Reserve Bank of India's easing measures over the past four months have lowered real rates, which should support economic reflation [57] Emerging Markets (EM) and Asia Equities - The rally in EM equities since early April appears to be waning, with valuations at all-time highs and evident downside growth risks [57] - Earnings revision breadth remains negative in EM and has turned down in Japan, indicating potential challenges ahead [35][57] - Historically, August has been the worst month for EM and Japan equities, with September also lagging [44][57] US Equities Outlook - A bullish view for the next 6-12 months is supported by rebounding earnings and cash flow, with the market having already priced in a growth slowdown [57] - Preference remains for sectors such as Industrials and Financials, while Consumer Discretionary is underweight due to tariff pressures [57] - A strong CPI print could lead to quality leadership in equities, while a weaker print may favor small caps and lower-quality stocks [57] Other Important Insights - The uncertainty regarding tariff levels has decreased, but the significant increase in US tariff rates on Asia implies a considerable burden that has not yet been shared by Asian exporters [21][57] - The aggregate US import price from Asia has risen above February 2025 levels, indicating that the tariff impact is being felt [21][57] - The call highlighted the importance of monitoring trade tensions and their effects on both trade and capital expenditure cycles in Asia [25][57]

Trade Tariffs & Manufacturing - Trump's 50% tariff threat could lead to India having the highest tariff rate in Asia [1] - This poses a risk to India's manufacturing sector, which Prime Minister Modi has been developing for a decade to compete with China [1]

Market Volatility & Investment Strategy - Market volatility is expected to return, potentially leading to an asset price explosion in the second half of the year, advising strategic positioning [2][4][6] - Historically, volatility was seen negatively, but now it's part of digitalization and financialization trends [3] - The VIX (Volatility Index) is at its lowest point in 2025, suggesting an imminent increase in market volatility [5] Tariff Revenue & US Investment - Tariff income is projected to exceed 1% of GDP, surpassing the initial estimate of $300 billion [7][8] - Private industry is committing over $10 trillion in investments into the United States [8][9] - The US is gaining advantage in the geopolitical trade realm, potentially disadvantaging those betting against it [10] Geopolitics & Trade Negotiations - The US employs a multi-lever, non-linear strategy in trade negotiations, leveraging military operations, diplomacy, economic sanctions, and oil markets [22][23][28] - Disbanding of the Klepto Task Force and discussions on Arctic routes were potential incentives offered to Russia during negotiations [30][31][32] - Arctic shipping routes are emerging as a significant geopolitical factor, influencing trade and logistics [34][35] Cryptocurrency & Digital Assets - The US government and the Chinese government are among the largest holders of Bitcoin, holding the 3rd and 4th position respectively [40] - China is seriously considering launching a yuan-backed stablecoin, potentially from Hong Kong [42] - Governments recognize the growing demand for digital assets, leading to a complex dynamic between supporting these assets and safeguarding legacy systems [44][45]