Brian Stewart

I feel that the market's going to be very macro focused for a while. So I think individual companies, there might be large positive surprises or large negative surprises. However, in general, I don't know if that's going to provide a catalyst to move the overall market because I think we'll be so obsessed. with political machinations that are going to surround the tariff announcements.

I feel that the market's going to be very macro focused for a while. So I think individual companies, there might be large positive surprises or large negative surprises. However, in general, I don't know if that's going to provide a catalyst to move the overall market because I think we'll be so obsessed. with political machinations that are going to surround the tariff announcements.

But I do see it as a signpost as we're going to start getting more earnings related data, financial related data in general. So I think the market's going to, over the next few weeks, start the process of kind of turning inward a little bit and taking its eyes off of Washington and more on Wall Street in general.

But I do see it as a signpost as we're going to start getting more earnings related data, financial related data in general. So I think the market's going to, over the next few weeks, start the process of kind of turning inward a little bit and taking its eyes off of Washington and more on Wall Street in general.

But I do see it as a signpost as we're going to start getting more earnings related data, financial related data in general. So I think the market's going to, over the next few weeks, start the process of kind of turning inward a little bit and taking its eyes off of Washington and more on Wall Street in general.

Yeah.

Yeah.

Yeah.

So next week, we got the FOMC minutes, which are going to let us know what the Fed was talking about and thinking about when it made its last rate announcements. We're also going to get the CPI and PPIs. We're going to get the latest inflation data.

So next week, we got the FOMC minutes, which are going to let us know what the Fed was talking about and thinking about when it made its last rate announcements. We're also going to get the CPI and PPIs. We're going to get the latest inflation data.

So next week, we got the FOMC minutes, which are going to let us know what the Fed was talking about and thinking about when it made its last rate announcements. We're also going to get the CPI and PPIs. We're going to get the latest inflation data.

I think the inflation data, even more than the jobs report or the manufacturing report, I feel that given the situation with tariffs and the possible economic implications of those, that that data is going to be seen as backward looking. It just does not describe the reality that we're living in sort of post tariffs.

I think the inflation data, even more than the jobs report or the manufacturing report, I feel that given the situation with tariffs and the possible economic implications of those, that that data is going to be seen as backward looking. It just does not describe the reality that we're living in sort of post tariffs.

I think the inflation data, even more than the jobs report or the manufacturing report, I feel that given the situation with tariffs and the possible economic implications of those, that that data is going to be seen as backward looking. It just does not describe the reality that we're living in sort of post tariffs.

So I don't know that that's going to have a huge impact on the thought process, but the CPI report might because it will kind of define the baseline as we look to whether or not tariffs are going to cause higher prices. I mean, the worst case scenario still remains that we end up in some sort of stagflationary situation. environment demand craters because everything gets too expensive.

So I don't know that that's going to have a huge impact on the thought process, but the CPI report might because it will kind of define the baseline as we look to whether or not tariffs are going to cause higher prices. I mean, the worst case scenario still remains that we end up in some sort of stagflationary situation. environment demand craters because everything gets too expensive.

So I don't know that that's going to have a huge impact on the thought process, but the CPI report might because it will kind of define the baseline as we look to whether or not tariffs are going to cause higher prices. I mean, the worst case scenario still remains that we end up in some sort of stagflationary situation. environment demand craters because everything gets too expensive.

And so we have a recession, but prices remain sticky because tariffs are adding to already existing inflationary pressures. And so prices remain high and jobs start to bottom out. So we could see a worst case scenario brewing. So I think that the inflation report that comes out next week will be very important into sort of setting those expectations.

And so we have a recession, but prices remain sticky because tariffs are adding to already existing inflationary pressures. And so prices remain high and jobs start to bottom out. So we could see a worst case scenario brewing. So I think that the inflation report that comes out next week will be very important into sort of setting those expectations.

And so we have a recession, but prices remain sticky because tariffs are adding to already existing inflationary pressures. And so prices remain high and jobs start to bottom out. So we could see a worst case scenario brewing. So I think that the inflation report that comes out next week will be very important into sort of setting those expectations.