Published February 13, 2026
AI and its huge demand for data center construction have driven U.S. stock markets the past couple of years. However investors have recently begun looking at the potential downside effects of AI. This has resulted in a massive sell off that began with the software sector and, in recent days, has radiated out into a wider swath of the market. (more…)
Published February 6, 2026
The largest companies in the stock market issued earnings reports this week. Some member of the Magnificent 7 components saw investors heading for the exits after seemingly strong earnings and revenue gains. What gives? (more…)
Published January 30, 2026
One of the projected victims of AI is the land of software. Investors believe, perhaps incorrectly, that AI will make large-scale software platforms unnecessary. Who needs a large HR software package when an AI bot can replicate the functionality at a fraction of the cost? So the theory goes. (more…)
Published January 23, 2026
Over the past couple of years, the gold trade has been, well, absolutely golden. One reason for the meteoric rise of the precious metal has been a shift in attitude toward U.S. Treasury bonds. (more…)
Published January 16, 2026
Thus far in 2026, we have seen a substantial rotation in the stock market. Investors have been moving out of the long-time leading Mag 7 stocks and into cyclical materials and industrials sectors. This comes as the immense AI data center spending announced by the Mag 7 companies turns to the actual building out of the facilities. (more…)
Published January 9, 2026
Welcome to the 2026 stock market! In the first full week of action, it’s been a feast for the cyclical materials and industrial sectors while tech takes a breather. (more…)
Published January 2, 2026
Welcome to 2026 and the importance of the January Effect on stocks. (more…)
Published December 26, 2025
Below we continue our presentation of Schwab’s 2026 Outlook. The final piece considers AI and the outlook for markets. (more…)
Published December 19, 2025
Below we continue with the middle of Schwab’s 2026 Outlook document. This piece examines labor market trends.
Published December 12, 2025
Over the coming three weeks we will offer Schwab’s outlook for the coming year. It’s a full document. So, we think cutting into more bite-sized pieces makes sense. Here’s the first section on the economy:
“This unique economic and market cycle is best defined using a couple of key letters: U and K. (more…)