Perspectives - June 16, 2025
The Corner June 2025
The S&P 500 is on track for a summer rally, targeting 7200 in 12 months and 12000–13000 by 2029–2030, driven by robust economic growth, consumer resilience, and transformative technologies. Despite short-term choppiness from overbought conditions and tariff noise, we remain in a secular bull market. Meaning, history suggests there’s still room to run. AI, blockchain, and robotics are fueling productivity gains, mirroring the impact of cell phones and the internet when those once-emerging technologies took the world (and markets) by storm.
Market Commentary - June 9, 2025
Jobs Report Not As Weak As Feared
Last week’s ADP report was weak, leading to the market acting worried that the job market was weakening. However, the opposite happened with the jobs report – it showed that the U.S. labor market, in fact, remains robust, with jobs still growing and the unemployment rate remaining steady at 4.2%. Wages did tick up a bit and that tells us that the consumer is making money. Remember: a strong labor market leads to a strong economy, and a strong economy leads to growing corporate profits, and growing corporate profits lead to stocks moving higher.
Market Commentary - June 2, 2025
Market Tug Of War: Tariffs Vs. AI
The equity market has been in a tug of war between pricing in tariffs and pricing in artificial intelligence (AI). In our view, the AI trade is back and the equity market has already priced in the tariff trade.