Introduces Michael Kantrowitz and asks how the risk-reward looks given worries about AI overinvestment, software disruption, and weaker job growth.
Carl
Michael Kantrowitz
Remains constructive on equities. Macro and earnings breadth data are helping climb over concerns, manifesting in a market rotation/broadening out since October - the first in about four years.
Asks if this rotation continues.
Carl
Michael Kantrowitz
Absolutely continues. Cites stimulus from Fed cutting rates, 10-year yields coming down, mortgage rates down, oil prices down, and positive fiscal stimulus this year.
Asks if all that can happen even without robust job growth.
Carl
Michael Kantrowitz
It's happening in part due to soft jobs data. Soft jobs data is the reason for Fed cuts and lower 10-year/mortgage rates.
Asks expectation for Wednesday (presumably jobs data).
Carl
Michael Kantrowitz
Largely more of the same. Doesn't see reason for sharper deterioration in employment than already seen.