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 10, 2025
Happy New Year! Markets have begun the year where they exited 2024, with quite a bit of uncertainty. Blake Millard does a good job laying out the sources of that uncertainty in his comments shown below:
“Policy uncertainty should lead to higher volatility
The U.S. economy remains on solid footing as we head into 2025, supported by a steady consumer, easing inflation, relief from higher/restrictive interest rates, and a pickup in the corporate earnings cycle.
With trend GDP growth expected, the fundamental underpinnings that support economic expansion are robust and well known. However, a number of wild cards patiently await in the shadows that could determine the trajectory of the economy and financial markets over the next year. (more…)