Core Viewpoint - US stocks advanced on Friday due to softer inflation data, which increased optimism regarding the Federal Reserve's rate-cutting trajectory and expectations for continued economic support and higher equity valuations [1] Group 1 - The Dow Jones Industrial Average rose by 228 points, or 0.5% [1] - The S&P 500 gained 0.6%, reaching a new record [1]

joining us this afternoon, Richard Fischer, former Dallas Fed president and Jeff senior adviser. Richard, great to see you again. Thanks for joining us today.Yeah, thank you Carl. What's up. Um, you know, the thing that got a lot of attention in in Pal's remarks was this notion that equities are quote fairly highly valued.I was thinking back to when Yellen got some blowback for saying small cap biotech shares were expensive back in the day. Did Did this line strike you as interesting. I think it's interesti ...

Let's ask Truis wealth CIO Keith Lerner and Empower chief investment strategist Marta Norton who joins us here at Post9. Good to see both of you. Thanks for coming in.>> Yes, my pleasure. >> What do you make of I guess tech lagging, a little more volatility, this comment from the Fed chair. You don't get that every day about valuations in equities, >> right.And you know, I think it really is a sign of how extreme valuations are. We all know that valuations aren't a timing indicator. markets can grind on for ...

Market Sentiment & Strategy - The market is near new highs, prompting a debate between defensive and offensive investment strategies [1] - Some clients questioned the need for defensive measures given the upward price momentum [2] - The consensus anticipates a soft patch in the market around August to October [5] - The combination of not seeing a bare case in June and a belief that earnings of the biggest 50 stocks won't be impacted much has people thinking the market is headed to highs [4] Earnings & Resilience - The largest 50 stocks in the S&P 500 contribute 50% of the index's gross profit dollars and have shown resilience to growth scares and higher inflation [6] - Smaller companies initially showed less concern about rising input costs, but median stock margins might be affected [7] - The focus is shifting towards companies with good but not excessive growth [8] Future Outlook & Investment Themes - AI-related trades, including semiconductors, utilities, and power, have performed well since the April 8th bottom [9] - 2026 is anticipated as a key year for realizing the benefits of current investments in company margins [9] - Investors are anticipating productivity gains from long-term trends, making them inclined to "buy the dip" [10][11] - The expectation is that trade tensions will not worsen significantly from current levels [12] - While some companies are experiencing negative impacts, it's not significant enough to impair S&P 500 earnings incrementally [14]