Market Sentiment and Valuation - The market's sentiment suggests it could continue to rise, but valuation and earnings models indicate it may be overextended for 2025 [3] - Current GDP growth of 1-2% is not typically a strong foundation for the stock market [4] - Top 10 market cap names are approaching recent peak median PE forward numbers, nearing 25 times [10] - The rest of the market has a median PE of around 185 times, but earnings are not supporting a catch-up trade [11] Earnings and Corporate Performance - There are significant gaps up and down in stock movements, suggesting liquidity issues and visibility challenges in earnings [6] - Some companies are managing challenges better than others, creating a stock picker's market with winners and losers [7] - Corporate America is generally managing through challenges well, but not uniformly [7] AI and Growth Expectations - The AI story remains intact, supporting valuations of tech names [9] - Relative long-term earnings growth rates of the top 10 companies track their relative PE almost perfectly [14] - Meta is up 11% [5] Economic Outlook and Fed Policy - The speaker felt the Federal Reserve Chair Powell was hawkish and did not indicate a September rate cut [16] - The market has recovered faster from the April 8th lows than in previous growth scares [17] - There is softening in services, as seen in super core measures [19] - There is an incomplete discussion in earnings calls about demand, making it difficult to assess the setup for the next quarter [20][21]

All right, let's bring in Mike Wilson. He is chief chief investment officer and chief US equity strategist for Morgan Stanley. And and Mike, just on these points, you're not worried about inflation, at least in regards to what it means for the markets. >> Well, that's right. And I mean, we're just going through all these numbers. It's like, you know, alphabet soup, all these different measures of inflation. And so what we do as equity strategists and investors is we look at earnings. Earnings, you know, tel ...

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And right now we are 2 minutes away from the end of the trading day. Romaine Bostick alongside Sonali Basak taking you through to that closing bell with a global simulcast. It started Carol Massar, Tim Stenovec back in the radio booth.Welcome to our audiences across all of our Bloomberg platforms, including our partnership with you to hear on Fed Day here on GDP, day here on Treasury refunding day here on earnings Day. Carl, who you got. Oh, my God.I need so much coming at us. I just want to say, in terms o ...

The S&P 500 will close out the year at a new record high. That's according to Wall Street's biggest bull. It's John Stalus of Oppenheimer.He's boosting his year-end target for the benchmark index to 7,100, citing progress on trade negotiations, removing lingering uncertainty for investors. Joining us now, the man behind that call, John Stalus, Oenheimer, chief market strategist. John, it's great to see you.Julie, great to be on the show. Always great to be working with you. Oh, I appreciate that.So, so tell ...

Let's bring in Michael Lansberg. He is chief investment officer of Lansburg Bennett Private Wealth Management. And I don't know how I'd characterize your your feelings now, Michael. You're not I mean, I don't think you're a raging bull. You're not really that worried even about trade, even about China. Um you figure high single digits for the year for the S&P. I just figured that out. We're there. >> Yeah. >> So what does that mean? that that the stock pickers market. You don't know if the averages necessar ...

Core Insights - WesBanco reported revenue of $260.73 million for the quarter ended June 2025, marking a 74.8% increase year-over-year [1] - The company's EPS was $0.91, up from $0.49 in the same quarter last year, exceeding the consensus estimate of $0.87 by 4.6% [1] Financial Performance - Revenue of $260.73 million surpassed the Zacks Consensus Estimate of $259.6 million, resulting in a surprise of +0.43% [1] - The efficiency ratio was reported at 55.5%, slightly above the estimated 55.2% [4] - Net interest margin was reported at 3.6%, matching the average estimate [4] - Mortgage banking income reached $2.36 million, exceeding the average estimate of $1.65 million [4] - Total non-interest income was $43.96 million, surpassing the average estimate of $41.5 million [4] Stock Performance - WesBanco shares returned +1.8% over the past month, underperforming the Zacks S&P 500 composite's +3.6% change [3] - The stock currently holds a Zacks Rank 4 (Sell), indicating potential underperformance relative to the broader market in the near term [3]

Market Overview - The S&P 500 and Nasdaq reached intra-day record highs but closed in the red, with the Dow down 204 points (-0.46%), S&P 500 down 18 points (-0.30%), Nasdaq down 80 points (-0.38%), and Russell 2000 down 13 points (-0.61%) [1] - Trade deals are progressing but lack the strength to drive the market higher, with Q2 earnings showing some weaknesses outside of Big Tech [2] Federal Reserve Policy - A new announcement on Fed policy is expected, with the current interest rate of 4.25-4.50% likely to remain unchanged for the fifth consecutive FOMC meeting [3] - Some analysts anticipate dissent among Fed members regarding the need for rate cuts despite current unemployment at +4.1% and inflation at +2.7% [3] Earnings Reports - **Starbucks (SBUX)**: Reported Q3 earnings of $0.50 per share, missing the consensus of $0.65, attributed to a one-time charge of $0.11. Revenues were $9.50 billion, exceeding expectations of $9.30 billion. Same-store sales fell -2% compared to a -1.3% consensus [4][5] - **Visa (V)**: Reported earnings of $2.98 per share, beating expectations of $2.86, with revenues of $10.2 billion surpassing the $9.87 billion forecast. Despite strong performance, shares fell -3% in after-hours trading [6] - **Booking Holdings (BKNG)**: Reported Q2 earnings of $55.40 per share, exceeding the $50.59 estimate, with revenues of $6.8 billion above the $6.56 billion consensus. Gross bookings reached $46.7 billion [7] - **Mondelez (MDLZ)**: Reported earnings of $0.73 per share, beating estimates by $0.05, with revenues of $8.98 billion exceeding the $8.88 billion expectation. The company faced challenges from rising cocoa prices and tariffs [8] Upcoming Market Events - The earnings season is expected to peak with reports from major companies like Microsoft and Meta Platforms, along with others such as Ford and Qualcomm [9] - Private-sector payroll data from ADP is anticipated, with a consensus of +64K jobs for July, following a previous decline of -33K [10] - Q2 GDP is projected to rebound to +2.3% from Q1's -0.5%, influenced by tariff policies and economic outlook improvements [10]