As investors digest the fresh jobs report showing a resilient US economy and consider what it means for the Federal Reserve, BMO Private Wealth chief market strategist Carol Schleif joins Morning Brief Co-Hosts Seana Smith and Brad Smith to share her read of the market (^DJI, ^IXIC, ^GSPC) and where opportunities lie for investors.
"We’re encouraged by some of the signs we’re seeing not only from earnings season but also economically," Schleif says, explaining, "It was a big data-heavy week this week for a lot of things, and it’s very indicative of a stabilizing economy. [With] earnings, the nice thing is you’re seeing a broadening in who’s carrying the flag, if you will, on that."
As Big Tech companies ramp up the billions they’re spending on artificial intelligence (AI), the strategist says, "The investment thesis is really shifting somewhat, which is very natural as we’re building out the infrastructure, the backbone of something, emphasis in the beginning."
Schleif tells investors, "For the first time in a very long period of time, you’re getting paid to put some ballast, you’re getting paid for the ballast in your portfolio being short-term bonds and high-quality bonds. You don’t have to stretch for yield."
She points to optimism "coming through about maybe a lighter regulatory touch" from the Trump administration on M&A activity: "It creates a microcosm, or a macrocosm, if you will, that allows businesses to be able to move forward."
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