Market Performance & Outlook - S&P and Nasdaq hit fresh record highs [1] - The economy is regaining its strength, potentially influencing the need for rate cuts [1] - Market investors are not overly concerned about high valuations [2] - Equity markets are excited by companies overcoming macro challenges [3] Corporate Earnings & Legislation - Expected earnings are around $65 this quarter, or $260 annually [3] - Tariffs and global challenges have impacted profits [4] - The new legislation includes benefits for companies such as R&D expensing and immediate expensing of CapEx [6] - The corporate tax rate remained at 21% [6] Bond Market & Monetary Policy - The Fed needs to demonstrate its independence [2] - The Fed should communicate its commitment to 2% inflation [7] - There's an upward trend in long-term yields, with the 20-year bond reaching 5% last week [9] - Premature rate cuts by the Fed are not advisable [10]

Market Trends - Fund managers are increasing investments in risky assets due to optimism about economic growth and strong corporate profits [1] Survey Findings - Bank of America conducted a monthly survey indicating this trend [1]

Joining us is Brian Reynolds, the chief market strategist at Reynolds Strategy. Brian, great to see you. It's been a while, and I I don't want to fully put words in your mouth, unless I'm saying this correctly, but you're pretty bullish on the market, broadly speaking.So, you just think that the earning season itself is going to disappoint and underwhelm the explain um all of the data points that you're watching. Bullish on financial engineering, which drives stock prices higher, but the fundamentals are ch ...