StockTA's Steuer: Market's rally has it due for a pause, awaiting clarity
Release Date: 04/24/2026
DeCarley's Garner: Market is 'starting to get wildly overdone'
Money Life with Chuck Jaffe
Carley Garner, senior commodity strategist at , says the stock market looks unbalanced to her, with the current rally built around mechanical issues, like an explosion of option sales that impact market performance. She is expecting a pullback, and says things could get ugly — with the Standard & Poor's potentially losing at least 1,500 points, — about 2,000 points — which is why she has moved an overweight part of her own portfolio into Treasuries. She sounds a note for caution during the conversation, noting that "Markets are unforgiving in the short run, but in the long run they...
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Baird's Mayfield: The Fed is done cutting; market's not done rising
Money Life with Chuck Jaffe
, investment strategist at , says that the Federal Reserve "is going to be very hard pressed to find a reason to cut [rates] here," and he thinks that if the central bank does have to make rate reductions down the road, "it won't be for reasons investors would be excited about." Mayfield says he remains bullish, noting that "a consolidation period is probably in order," setting up a volatile summer setting up a continuation of the bull market later in the year, barring any sort of exogenous shock. And speaking of shocks, Mayfield addresses what he sees as building signs of a market bubble, and...
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ProShares' Hyman: Earnings will keep powering market past headlines
Money Life with Chuck Jaffe
Simeon Hyman, global investment strategist at , says that we have "had the most stunning earnings season in pretty much anybody's recollection," exceeding expectations and making it that the market is more focused on the earnings story than anything else, including bad news about war, inflation and more. He sees that trend continuing, even if inflation rises or stays sticky, until or unless it bumps into a recession, which he sees as unlikely. Hyman also discusses ProShares' new ETF based on the , and how that fund and a sister dividend aristocrats fund can be used to add consistency to a...
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Sanjac Alpha's Wells: Interest rates will rise this year, even if the Fed cuts
Money Life with Chuck Jaffe
Andy Wells, chief investment officer at , says he expects the stock market to continue on its positive roll and wouldn't be surprised if it's up by about 6% from current levels over the next six months, but he also says that investors should expect interest rates to go up this year — even as he thinks the Federal Reserve will look to make a cut — because there is so much incoming bond supply driven by the artificial-intelligence boom and the need to fund A.I. projects. Further, Wells says that investors' bond funds are becoming "a tech bet" as the market changes and tries to absorb the...
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Does the media's soft vs. hard data coverage mislead investors?
Money Life with Chuck Jaffe
Vince Duffy, news director, , joined Chuck at the Society for Advancing Business Editing and Writing Conference in Philadelphia to discuss how the media handles its coverage of soft versus hard data and whether those stories — and others — are politicized. Duffy also talks about coverage priorities and the difficulties of balancing news that consumers need with the things they most want. , chief investment officer at , joins the optimists in his assessment of last week's jobs data, though he does suggest the numbers have room to flex and will make it hard for the Federal Reserve to cut...
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Touchstone's Aarts on why oil prices are causing higher bond yields
Money Life with Chuck Jaffe
Erik Aarts, senior fixed income strategist at , says the last few weeks have shown a disconnect between stock and bond markets, with the bond markets getting particularly cautious while stocks have raced back to record highs. What the bond market is worried about, Aarts says, is that higher oil prices will bleed into another round of higher inflation. ... At its base case, that's why yields are up today." Aarts also discusses how high-yield bonds are not living so much up to their label as "junk bonds," and that much of that high-risk exposure has moved to or stayed in private credit...
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Westwood's Sanghani on how war has changed the oil demand outlook for years
Money Life with Chuck Jaffe
Parag Sanghani of the Westwood Holdings Group, , says that the ongoing war in Iran has pulled volumes from inventories early, creating synthetic demand that will keep prices higher for several years. That benefits the oil companies and stocks that Sangahni likes, but it hurts by creating a tax at the gas pump, which he expects to remain in place longer than most projections. Sanghani says he currently likes the entire spectrum of energy investments, not just oil and gas, noting that power demands are expected to keep growing beyond current capacity constraints for years to come. Matt Freund,...
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Ocean Park's St. Aubin: Market is overvalued but downside risk isn't too high
Money Life with Chuck Jaffe
James St. Aubin, chief investment officer at , says that the stock market's flirtation with record highs is showing some overvaluation — increasing the potential downside risk — but he only expects that risk to be realized "if the narrative changes, if something comes out of left field that shakes the whole foundation of what is building market optimism today." His most likely candidate for that confidence-breaker is not war or current events, but some change in the artificial-intelligence boom that has been driving spending and earnings growth. St. Aubin says that if negative data on...
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Commonwealth's McMillan: Trouble's still coming, but not for a while
Money Life with Chuck Jaffe
Brad McMillan, chief economist for , says that there's "an enormous feel-bad headline economy," but the underlying fundamentals are solid enough to keep earnings growing, which will make it that the market does well, or at least avoids a protracted, deep downturn. McMillan worries that when the supply-chain breaks for food, for holiday shopping and more several months from now that it could trigger a recession, but he says that, for now, the numbers that normally signal that a grizzly bear market — a combination of a recession and a crashing market — aren't lined up to happen yet. Mark...
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Channel Capital's Roberts: Markets will stay happy with even a hint at rate cuts
Money Life with Chuck Jaffe
Doug Roberts, chief investment strategist at and the author of "Follow the Fed to Investment Success," says that it doesn't matter much to the stock market when a rate cut happens, so long as investors can expect decline and believe the central bank will step in with one if employment numbers change significantly. Roberts says that the market wants to know that "the Fed has your back," and he expects new chairman Kevin Warsh to signal that, even if it is not accompanied immediately by rate cuts. Roberts also says that current conditions and the Fed's outlook should be leading investors to...
info_outlineKevin Steuer, managing partner at StockTA, says the stock market's rally after the initial peace talks over the War in Iran got a bit ahead of itself, and he's now expecting the market to hover — without facing much downside pressure — awaiting more resolution and clarity. He's heavily in cash at this point — the most cash he has held by percentage since the Covid crisis — and is looking at defensive, inflation-oriented plays while he waits for a signal that the rally is back on.
David Gutierrez, vice president at Liberty Street Advisors — which runs the Private Shares Fund — says that private markets are similar enough to public markets that one of the big sweet spots now is artificial intelligence, though he is focused mostly on A.I. infrastructure noting, for example, that the shift from copper-based to optical-based networking in servers is an investable trend that does not depend on how well the AI works but instead is based entirely on the demand for more technology support. He also discusses shifting trends in how long private companies are waiting before going public, and how geopolitics could be impacting private firms.
Plus, Noland Langford, chief executive officer at Left Brain Capital Management, brings his strategy of buying proven winners while they are still on the rise back to the Money Life Market Call.