Episode Details

The big things you need to know:

• First, US equity market valuations are on the rise, but don’t look topped out yet. We remain constructive on the US equity market in the year ahead, recognizing that the path may not be linear.
• Second, last week’s earnings reports continued to point to resilient outlooks with a dose of caution fueled by a strong start to the year, highlighted challenges to consumer resiliency in restaurants and travel but otherwise a reiteration of the cautious but stable theme, and alluded to a complex web of buffers in place for companies regarding the impact of the war in Iran for a period of time.
• Third, things that jump out in our other updates include a sharp spike in company references to geopolitics in April, a stall in investor sentiment last week, and a pick-up in betting market expectations for a split Congress in the midterms.