In this episode, we discuss the eventful month of April in the markets, highlighting the resurgence of the S&P 500 and the significant influence of policy shifts on market dynamics. The episode delves into the impact of tariff-related rhetoric, the effect of proposed tax cuts, and the ongoing balance between sentiment and fundamental data. We cover the importance of maintaining a balanced investment approach and what data to watch. Make sure to tune in next week for insights from Craig Fuller, CEO of FreightWaves, on the tariff impact on the supply chain.
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14:12
Geopolitical Whiplash: Josh Rogin On The New Global Order
In this episode of What's Next for Markets, Michael Kantrowitz, Chief Investment Strategist at Piper Sandler, and Josh Rogin, Lead Global Security Analyst at Washington Post Intelligence, delve into the ongoing market volatility driven by shifting policies and geopolitical dynamics. They discuss the breakdown of traditional silos between Wall Street, Washington, and Silicon Valley, the impact of U.S.-China relations on global markets, and the internal dynamics of the Trump administration. The conversation highlights the intersection of politics and financial markets, shedding light on the intricate power struggles and economic strategies that could shape future market trends.Josh Rogin is Lead Global Security Analyst at Washington Post Intelligence. Since 2016, Josh has served as a columnist for the Global Opinions section of the Washington Post. He is also the author of Chaos Under Heaven: Trump, Xi, and the Battle for the 21st Century (Mariner Books).Previously, Josh has covered foreign policy and national security for Bloomberg View, Newsweek, The Daily Beast, Foreign Policy magazine, Congressional Quarterly, Federal Computer Week magazine, and Japan’s Asahi Shimbun. Josh has been recognized with the Interaction Award for Excellence in International Reporting and as a Finalist for the Livingston Award for Young Journalists. He has also received journalism fellowships from the Knight Foundation, the East-West Center, and the National Press Foundation. Josh holds a BA in international affairs from the George Washington University and studied at Sophia University in Tokyo, Japan. He lives in Washington, DC Find more information about WP Intelligence here:https://demo.wpintelligence.com/Find more about Josh here:https://www.linkedin.com/in/joshrogin/https://x.com/joshroginhttps://www.instagram.com/joshrogin/
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1:00:02
What’s Holding Back Small Caps?
In this episode, Stephen and Emily discuss the current state of small cap equity investing. Small cap equities have underperformed their larger cap equity counterparts for nearly five years. We explore the factors contributing to this trend, including higher interest rates, slowing economic growth, and recent tariff news. Despite current challenges, the conversation highlights potential positive catalysts that could improve the outlook for small caps, emphasizing their role in a diversified portfolio and the importance of focusing on quality and stability within the small cap space.
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18:17
The Wisdom of Staying Disciplined: Fidelity’s Jurrien Timmer on Market Cycles
In this episode, we’re joined by Jurrien Timmer, Director of Global Macro at Fidelity Investments, for a wide-ranging conversation on market cycles, long-term investing, and the shifting dynamics in the macro landscape.Jurrien shares how his background in technical analysis has evolved into a storytelling approach to macro strategy. We dive into:The interplay between technicals and macro dataWhy market signals matter more than hard predictionsHow Jurrien defines and interprets cycles — and what might be different this timeHow he integrates behavioral finance into his frameworkThe risks and opportunities he’s watching in 2025Whether you're an investor navigating uncertainty or a macro enthusiast trying to connect the dots, this episode delivers timeless perspective and practical insights from one of Fidelity's most respected voices.Connect with Jurrien Timmer:X (Twitter): @TimmerFidelity••LinkedIn: Jurrien Timmer
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42:36
Markets Are Tariffied; What Could Go Right?!?
In this episode of 'What's Next for Markets', we discuss the recent tumultuous week for markets in the wake tariff announcements. We will cover our initial reaction to the moves in the market along with the emerging macro and earnings risks. The episode touches on market sentiment, valuation metrics, and historical parallels. Importantly, in today’s episode we look beyond the obvious bearish narrative to what could go right from here.
When it comes to equity markets, there is a seller for every buyer. But how do you know which side of the trade to be on? Macro trends explain 70% of stock movements so understanding the macro backdrop is essential. Join Michael Kantrowitz, No. 1 ranked* Wall Street investment strategist, and the rest of the portfolio strategy & quantitative research team at Piper Sandler as they discuss current macro trends and what’s next for markets. Michael, Stephen, Emily, Joe and Dan have been working together for over 15 years. They pride themselves on their knowledge of financial market history while offering value added research and time-saving resources to their clients. The team utilizes the H.O.P.E. framework (Housing, Orders, Profits & Employment), a proven business cycle analysis to guide listeners through investment decisions and manage risk/reward in global equity markets. When they aren’t advising the best and brightest on Wall Street, they share bad taste in movies and good taste in cuisine. For more information on the podcast and the team visit whatsnextformarkets.com
Ireland