All right. So, Drew, what do you make of this this uh morning. We're seeing the futures pull back. We're seeing gold spike quite a bit.It's up over 1% generally. That's the safety trade. What do you think's going on with investors this morning.Look, I think sentiment's really high. That that's the starting point for everything here. And any news that might upset the apple cart might be a reason to normalize positioning or take some profits.I think a lot of this is shortterm because I think the bigger, not n ...

Market Sentiment and Earnings - Investor sentiment is currently high, leading to potential profit-taking and normalization of positions in response to any unsettling news [1] - The upcoming Q3 earnings reporting season is expected to be a significant factor influencing market direction [2][4] - The market's recent highs are attributed to expectations of rate cuts, but the sustainability of this trend hinges on strong earnings performance [2][3] Earnings Pressure - There is considerable pressure on earnings to exceed growth expectations, particularly given current market valuations [4][5] - The current earnings pressure is noted to be at levels not seen since the tech bubble and the post-pandemic recovery [5] Company Focus: Equifax - Equifax is highlighted as a potential investment opportunity due to its earnings inflection story, driven by lower interest rates impacting mortgage rates [6] - Analyst expectations for Equifax's earnings are projected to be significantly above consensus for fiscal years 2026 and 2027, supported by lower mortgage rates [6] - The company is expected to improve its return on equity (ROE) through enhanced margins and operational efficiency [7] Mortgage Rates and Housing Market - Despite recent increases in mortgage rates, the long-term outlook remains positive due to a housing market that is underbuilt in the United States [8] - The current mortgage rates are approaching the 6% range, which may stimulate demand for both refinancing and new home purchases [8]

So, as big tech ramps up its spend on AI and their stocks hit record highs, are valuations getting a little worrisome. Let's ask NYU's Stern School of Business professor Aswath Damaroden. It's great to have you back on.So, are they are they getting worrisome to you. These these valuations as we make new record highs here in the session. >> It's not just tech, right.Stocks collectively are trading at prices that I think you know I mean they're richly pressed. That's the only way to describe it. I'm not use g ...

Core Viewpoint - Jonathan Golub, chief equity strategist at Seaport Research Partners, emphasizes that earnings and the economy will play a crucial role in supporting stock prices [1] Group 1: Earnings Outlook - The expectation is that corporate earnings will remain resilient, which is essential for maintaining investor confidence in the stock market [1] - Analysts predict that earnings growth will be a key driver for stock performance in the upcoming quarters [1] Group 2: Economic Factors - The overall economic environment is expected to provide a supportive backdrop for equities, with indicators suggesting stability [1] - Economic growth is anticipated to contribute positively to market sentiment and stock valuations [1]

Market Overview & Outlook - The market is pricing in an approximately 80% probability of three rate cuts by year-end [2] - S&P, global markets, Eco8 index, and bank index are at all-time highs [3] - Historically, when the Fed cuts rates around new highs, markets have generally moved up in the following 12 months, except during recessions [4] - Over 90% of global markets are in uptrends [17] - The market could experience short-term disappointment due to high expectations surrounding the Fed meeting [10][11] - A pullback is possible, but likely contained within 4-5% [12][13] Earnings & Sector Rotation - Earnings are the primary driver of the market [6] - Money is rotating within the Mag 7 stocks, indicating a healthy market [7] - Technology remains favored due to strong earnings momentum, but small caps are becoming more attractive [8] - Earning strength is broadening to include small caps and midcaps [13][14] International Markets - The firm has incrementally increased exposure to emerging markets and international developed markets like Japan [15] - Gains in international markets are primarily currency-related; forward earning estimates for the MSCI developed markets are negative on a 12-month basis [16] - Japan has broken out to a 40-year high [17]

Thank you very much. Speaking of Robin Hood, Stephanie Gild is with us right now, the chief investment officer. It's always good to have you on the program.What's your take on where we're going here in a new month. I mean, I think we're in a point in the market where we've seen a lot of gains and obviously you've had some news out that is starting to show that perhaps valuations have reached expectations. And I think we're at the point in the market where, you know, my target was 6,500 and I think we're goi ...

Market Sentiment & Fundamentals - The market is acting rationally by rewarding companies with the best fundamentals, particularly large companies focused on AI, where the best earnings revisions are occurring [4] - Corporate earnings have been strong this year, but sentiment isn't as high as expected, suggesting a dislocation between sentiment and fundamentals [4] - Concerns and a lack of excessive giddiness in the market are positive signs, indicating that the bull market hasn't reached its final, euphoric stage yet [7][8] - While there are some signs of euphoria, such as the return of meme stocks and SPACs, sentiment polls surprisingly show more bears than bulls [9][10] Company Performance & Valuation - Nvidia trades at approximately 59 times its historical earnings, about 150% of the overall NASDAQ's level [2] - Stock prices are forward-looking, focusing on future earnings potential rather than past performance [3] - Earnings estimates are generally increasing, contributing to a bright outlook for stocks [3] Investment Strategy - Sticking with companies that are producing results is a great opportunity for investors, as many are distracted by other factors [11] - Investors should focus on fundamentals and block out the noise, including issues in Washington DC [5][6] - The eventual pulling in of sidelined investors will lead to a euphoric stage [8]

Financial Performance - Onlyfans' owner, Leonid Radvinsky, earned over $1.9 million per day in 2024 [1]

Financial Performance - Lowe's earnings exceeded forecasts [1] Sales Performance - Higher sales to both construction professionals and DIY customers [1]

Let's ask Wharton School professor of finance Jeremy Seagull. He's also chief economist for Wisdom Tree. Welcome back.It's nice to see you as always. Good to see you, Scott. You still like this market. Yeah, I I still like it.I I I think there were a little some disappointments today. I actually think uh the Bloomberg report that maybe Waller is the top candidate uh rather than War. uh he uh uh is not seen as uh uh dovish for Fed chair and I think that that kind of discouraged the market may a little bit co ...