• Michael Hoelzl
• Art Rothschild
• Kyle Tetting
• Steve Giles
• With Max Hoelzl
• Engineered by Jason Scuglik

• Nasdaq – 26518, up 629 points or 2.4%
• S&P 500 – 7501, up 69 points or 0.9%
• Dow Jones Industrial Average – 51656, up 362 points or 0.7%
• 10-year U.S. Treasury Note – 4.45%, down 0.03 point

With an abundance of economic data this week we have a lot to cover. Here’s some of the key topics and insights:

• The Iran crisis reinforced the global economy’s resilience. Markets and industries adapted, countries with strategic energy reserves fared better, energy efficiency continues to improve, and AI-related investments helped support markets during the turmoil.
• The Fed signaled a more hawkish tone under Chairman Kevin Warsh. The dot plot points to possible future rate hikes, Warsh maintained his skepticism toward forward guidance, and new internal task forces suggest a broader review of how the Fed operates without threatening its independence.
• Corporate earnings expectations remain strong. After 29.3% earnings growth in the first quarter, analysts expect 22.9% growth in the second quarter and roughly 25% growth for full-year 2026.
• Economic data continue to point to moderate but positive growth. Retail sales exceeded expectations and consumer spending remained healthy, while mixed housing and leading indicator data suggest the economy is slowing but not stalling.

• Michael Hoelzl
• Art Rothschild
• Kyle Tetting
• With Max Hoelzl
• Engineered by Jason Scuglik

• Nasdaq – 25889, up 179 points or 0.7%
• S&P 500 – 7431, up 48 points or 0.6%
• Dow Jones Industrial Average – 51202, up 336 points or 0.7%
• 10-year U.S. Treasury Note – 4.48%, down 0.06 point

With an abundance of economic data this week we have a lot to cover. Here’s some of the key topics and insights:

• SpaceX IPO dominates headlines
• Inflation concerns continue to pressure rate-cut expectations
• Rising energy prices remain the biggest inflation driver and are beginning to push food prices higher again.
• Consumer sentiment highlights strain on lower-income households
• University of Michigan survey data show lower-income consumers have been hit hardest by higher gasoline prices.
• Geographic concerns should not automatically disqualify investment opportunities. European indexes are less concentrated in technology and communication stocks, offering diversification benefits.

• Dave Sandstrom
• Tom Pappenfus
• Kyle Tetting
• With Max Hoelzl
• Engineered by Jason Scuglik

• Nasdaq – 25709, down 1263 points or 4.7%
• S&P 500 – 7384, down 196 points or 2.6%
• Dow Jones Industrial Average – 50867, down 166 points or 0.3%
• 10-year U.S. Treasury Note – 4.54%, up 0.08 point

With an abundance of economic data this week we have a lot to cover. Here’s some of the key topics and insights:

-Markets still trading on the highs and lows of the AI trade

-Friday jobs report and continued inflamatory pressures saw 10Y treasury bump past 4.5% Friday, another threat to some growth stocks

-Space X IPO is close!

-Spending growth continues from consumers across all income brands, which brings a still persistent dislocation between spending and consumer sentiment.

• Art Rothschild
• Kendall Bauer
• Kyle Tetting
• Tom Booth
• Engineered by Blake Miller

• Nasdaq – 26973, up 629 points or 2.4%
• S&P 500 – 7580, up 107 points or 1.4%
• Dow Jones Industrial Average – 51032, up 453 points or 0.9%
• 10-year U.S. Treasury Note – 4.45%, down 0.11 point

With an abundance of economic data this week we have a lot to cover. Here’s some of the key topics and insights:

-One could argue that stock prices are too high, but that doesn’t mean they can’t go higher

– Volatility remains in oil markets, but oil prices likely higher for longer

-Bond yields have climbed a bit

-Per the FBI, the rate of internet crimes is climbing, likely due to AI

-Trump Accounts are starting to become available and funding begins July 4, 2026

• Kyle Tetting
• Dave Sandstrom
• John Sandstrom
• Engineered by Jason Scuglik

• Nasdaq – 26344, up 119 points or 0.5%
• S&P 500 – 7473, up 65 points or 0.9%
• Dow Jones Industrial Average – 50580, up 1054 points or 2.1%
• 10-year U.S. Treasury Note – 4.56%, down 0.04 point

As earnings season nears its completion, markets will be set adrift again.

The rising bond yields leave investors asking questions, but there are some benefits to higher interest rates.

The ability to launch an ETF is not terribly costly now, and the record number of ETFs created in 2025 is creating concerns in the marketplace.

And more! Listen below or wherever you find your favorite podcasts.

• Adam Baley
• Kendall Bauer
• Steve Giles
• Engineered by Jason Scuglik

• Nasdaq – 26225, down 22 points or 0.1%
• S&P 500 – 7409, up 10 points or 0.1%
• Dow Jones Industrial Average – 49526, down 83 points or 0.2%
• 10-year U.S. Treasury Note – 4.60%, up 0.23 point

With an abundance of economic data this week we have a lot to cover. Here’s some of the key numbers:

-Consumer prices rose 3.8% year over year. Even stripping out volatile food and energy prices, core inflation rose 2.8%, which is well above our comfort zone.

-Producer prices soared 6% year over year, driven by surging oil costs. Soaring producer prices renew inflation worries as businesses are likely to pass those higher costs on to consumers in the coming months.

-Retail sales rose .5% last month, though largely driven by higher gasoline prices. However, online shopping by consumers showed resilience.

-industrial production and Business Inventories rose in April, both showing stability in consumer demand.

• Kyle Tetting
• Kendall Bauer
• Engineered by Jason Scuglik

• Nasdaq – 26247, up 1084 points or 4.3%
• S&P 500 – 7399, up 153 points or 2.1%
• Dow Jones Industrial Average – 49609, down 19 points or 0.0%
• 10-year U.S. Treasury Note – 4.36%, down 0.01 point

Investors remain focused on earnings and interest rates, with a marked shift in stock prices since the end of March reflecting increasing optimism about stocks more broadly. The S&P is experiencing one of its best earnings seasons in 20 years, with growth in the first quarter looking to exceed 28%.

New investment tools in the Exchange Traded Fund space continue to emerge chasing a variety of investment themes, but challenges remain as investment expense and trend-chasing obscure what’s right with what’s possible.

On the economic front, relative stability in the labor market belies broader concerns about the war and rising prices. The reminder remains: cautious balance remains a far more prudent path than trying to predict bursting bubbles.

• Kyle Tetting
• Steve Giles
• Mike Hoelzl
• Engineered by Jason Scuglik

• Nasdaq – 25119, up 282 points or 1.1%
• S&P 500 – 7232, up 67 points or 0.9%
• Dow Jones Industrial Average – 49513, up 283 points or 0.6%
• 10-year U.S. Treasury Note – 4.38%, up 0.07 point

In this week’s episode, we break down a pivotal moment for the Federal Reserve and what it means for markets going forward. With Jay Powell presiding over his final meeting as Fed Chair—while signaling he’ll remain on the Board amid an ongoing DOJ probe—we unpack the historical significance of the moment and the policy decisions that came with it. Rates held steady at 3.5%–3.75%, offering investors a sense of stability, but rising disagreement within the Fed reveals a more complicated picture beneath the surface.

Earnings season, meanwhile, is delivering both excitement and volatility. Standout performances from major names saw double-digit jumps following their reports. With trading volumes surging and sharp market reactions becoming the norm, investors are navigating a fast-moving landscape.

We also tackle the growing conversation about U.S. debt, which has now surpassed 100% of GDP. While this milestone raises long-term concerns about fiscal sustainability, we explain why it doesn’t necessarily signal an imminent crisis.

Finally, we round out the episode with key economic data releases. Consumer confidence showed modest improvement in April, with optimism in the labor market offsetting concerns about geopolitical tensions and rising gas prices. On the labor front, initial jobless claims dropped to their lowest level in over 50 years, reinforcing the strength of the job market and complicating the Fed’s fight against inflation. GDP growth came in at a solid 2.0% annualized rate for Q1, boosted in part by ongoing AI investment, while core PCE remains elevated around 3.2%, underscoring that inflation is still very much in play.

As always – if you have any questions about what we’ve discussed this week, give your advisor a call at 414-223-1099!