Brian Stewart

So obviously we started this week with a big sell-off. There were rising inflation concerns. This was stoked over the weekend by some comments Trump made about moving into a transitionary period with the changes that he's making.

So obviously we started this week with a big sell-off. There were rising inflation concerns. This was stoked over the weekend by some comments Trump made about moving into a transitionary period with the changes that he's making.

So obviously we started this week with a big sell-off. There were rising inflation concerns. This was stoked over the weekend by some comments Trump made about moving into a transitionary period with the changes that he's making.

In his administration, there's rising worry that he's going to kind of shove the market off a cliff by doing severe job cuts in the public space and by putting tariffs into place. So the general idea that Trump is OK with a recession kind of sent people in. into a panic. The market has stabilized since then.

In his administration, there's rising worry that he's going to kind of shove the market off a cliff by doing severe job cuts in the public space and by putting tariffs into place. So the general idea that Trump is OK with a recession kind of sent people in. into a panic. The market has stabilized since then.

In his administration, there's rising worry that he's going to kind of shove the market off a cliff by doing severe job cuts in the public space and by putting tariffs into place. So the general idea that Trump is OK with a recession kind of sent people in. into a panic. The market has stabilized since then.

I mean, one of the good points about going down quickly is the faster you go down, the sooner you hit bottom. So there's the debate going on about whether we've hit the bottom or whether we've kind of just settled on a ledge somewhere, just sort of waiting for the next step lower.

I mean, one of the good points about going down quickly is the faster you go down, the sooner you hit bottom. So there's the debate going on about whether we've hit the bottom or whether we've kind of just settled on a ledge somewhere, just sort of waiting for the next step lower.

I mean, one of the good points about going down quickly is the faster you go down, the sooner you hit bottom. So there's the debate going on about whether we've hit the bottom or whether we've kind of just settled on a ledge somewhere, just sort of waiting for the next step lower.

So if we just look at the markets for today, we're not seeing anything dramatic. It's down again, down about 1% on the S&P 500. So there hasn't been a major snapback yet. So there's not a wave of buyers coming back to the market. So there's generally feeling

So if we just look at the markets for today, we're not seeing anything dramatic. It's down again, down about 1% on the S&P 500. So there hasn't been a major snapback yet. So there's not a wave of buyers coming back to the market. So there's generally feeling

So if we just look at the markets for today, we're not seeing anything dramatic. It's down again, down about 1% on the S&P 500. So there hasn't been a major snapback yet. So there's not a wave of buyers coming back to the market. So there's generally feeling

waiting for either the next shoe to drop or the next piece of data to send the market higher, something that's going to give some sort of idea that we've gotten all the selling out of our system. So I would look for the Fed next week as a major catalyst. Unfortunately, there's not a lot of earnings coming out, so there's probably not going to be a good corporate catalyst for the market in general.

waiting for either the next shoe to drop or the next piece of data to send the market higher, something that's going to give some sort of idea that we've gotten all the selling out of our system. So I would look for the Fed next week as a major catalyst. Unfortunately, there's not a lot of earnings coming out, so there's probably not going to be a good corporate catalyst for the market in general.

waiting for either the next shoe to drop or the next piece of data to send the market higher, something that's going to give some sort of idea that we've gotten all the selling out of our system. So I would look for the Fed next week as a major catalyst. Unfortunately, there's not a lot of earnings coming out, so there's probably not going to be a good corporate catalyst for the market in general.

There might be individual stories that come out, but not something that's going to move the entire market. So you're probably looking to the middle of next week before you see anything concrete. Otherwise, between now and then, we're probably just moving on momentum and just overall sentiment.

There might be individual stories that come out, but not something that's going to move the entire market. So you're probably looking to the middle of next week before you see anything concrete. Otherwise, between now and then, we're probably just moving on momentum and just overall sentiment.

There might be individual stories that come out, but not something that's going to move the entire market. So you're probably looking to the middle of next week before you see anything concrete. Otherwise, between now and then, we're probably just moving on momentum and just overall sentiment.

So Bitcoin's down today, gold's up a little bit, oil's down a little bit. So honestly, that's just sort of on brand for how the market has been lately. Crypto, along with some of the major tech names, has been sort of the big story on the down side. downside as we've been selling off lately.

So Bitcoin's down today, gold's up a little bit, oil's down a little bit. So honestly, that's just sort of on brand for how the market has been lately. Crypto, along with some of the major tech names, has been sort of the big story on the down side. downside as we've been selling off lately.