“At some point here, we’re going to get days like today where you’re going to see profit-taking.” – 01:36

Jonathan Corpina, Meridian Equity Partners, joins Remy Blaire at the New York Stock Exchange to discuss the current state of the stock market, particularly in light of recent economic indicators and Federal Reserve expectations. I begin by discussing the recent decline in Wall Street, which follows hotter-than-expected wholesale inflation figures. This comes after a session where stocks rallied, fueled by investor optimism regarding a potential rate cut from the Federal Reserve as early as September. Treasury Secretary Scott Bessent’s call for a significant cut of up to 175 basis points, citing a weakening job market, adds to the growing anticipation surrounding the Fed’s next moves.

Jonathan highlights the impressive performance of the Nasdaq and S&P 500, which recently closed at record highs. He attributes this upswing to a combination of a strong earnings season and positive economic data, which has led to increased confidence in the Fed’s impending rate cuts. However, he also notes that after such a strong run, profit-taking and concerns about market sustainability are natural.

The pair also touch on the resurgence of the IPO market, with Jonathan expressing optimism about the increasing number of companies going public. He believes this is a positive sign for the financial sector and the overall market, as companies are finally finding the right timing to raise capital.

“The portfolio that’s made for a 70-year-old, 80-year-old isn’t the same one that’s going to appeal to somebody that’s thinking about their child’s investment fund.” – 03:06

Logan Weaver, President & CEO of Surmount, joins Remy Blaire at the New York Stock Exchange to discuss the evolving landscape of investment management, particularly focusing on the younger generation of investors. I begin by addressing a common perception that investment advisors are primarily for older, wealthier individuals. Surprisingly, less than 2% of traders under the age of 40 are currently working with advisors, which raises questions about accessibility and relevance in today’s market.

Logan shares his insights on the current state of investment management, highlighting a significant trend where younger investors are gravitating towards self-trading applications like Robinhood. He notes that many of these individuals prefer to manage their own investment decisions rather than relying on traditional financial advisors, often due to a disconnect with the older generation’s approach to wealth management.

The conversation then shifts to the role of technology in investment management, particularly the impact of artificial intelligence and machine learning. Logan explains how these technologies are beginning to transform the industry, enabling advisors to better understand client preferences and construct more suitable portfolios. He predicts a significant increase in AI adoption within the financial services sector over the next few years, despite the industry’s historically slow response to technological advancements.

“The bond market is looking through all of that and seeing the economic data points around labor and otherwise.” – 01:45

Tom Carney, Portfolio Manager at Weitz Investment Management, joins Remy Blaire to discuss the current state of the financial markets with a focus on the Federal Reserve’s upcoming decisions and their implications for fixed income investments. With just 35 days until the next Fed meeting, the anticipation is palpable, especially as the CME FedWatch tool indicates a staggering 90% chance of a rate cut.

The discussion begins by examining the latest inflation data, particularly the Consumer Price Index (CPI) figures that suggest inflation remains relatively tame, despite some concerns following recent tariff news. Tom points out that while inflation is still above the Fed’s long-term target of 2%, the bond market is reacting positively, with rates declining year-to-date as investors anticipate a potential cut in short-term interest rates.

Tom’s insights provide a comprehensive overview of the current market dynamics and the strategies that investors can employ to navigate these conditions.