In today's AMI Investment Perspective podcast we provide a macro update noting weakening economic indicators, persistent inflation expectations, and potential drags from tariffs and reduced shipping. Sector commentary is highlighted by resilient healthcare and tech earnings, optimism around tariff relief, shifting supply chains, and mixed energy outlooks amid geopolitical tensions. We also discuss the consumer markets, and how sentiment improved modestly, but companies like Tesla, Chipotle, and Pepsi faced headwinds, while Philip Morris saw strong growth from its nicotine pouch brand, Zyn.

In this week's episode, the team provides an in-depth analysis of bond market volatility, key economic data releases, and significant developments across the healthcare and technology sectors. The team discusses evolving rate cut expectations, the implications of new drug pricing initiatives, and the effects of tariffs and permitting reform. Finally, the team review notable corporate earnings, including updates from UnitedHealth, Eli Lilly, and Nvidia.

In this week’s podcast, we discuss improving inflation data and volatile market reactions to geopolitical tensions, including a short-lived tariff pause and concerns over FDA staffing and potential pharma tariffs. The team addresses how consumer sentiment dropped to multi-decade lows, with rising inflation expectations and credit card stress signaling pressure on household finances, though large retailers like Walmart and Costco continue to gain share. Finally, as earnings season approaches, we explore how investors are focused on shifting toward companies’ ability to manage uncertainty, with resilience, pricing power, and supply chain diversification emerging as key themes.

In this podcast, we discuss the latest economic updates, including rising layoffs, mixed job data, and the impact of tariffs across various sectors. We explore how global trade tensions affect the tech industry, as well as consumer discretionary sectors such as automobiles, apparel, and footwear. The episode also touches on the future of AI, semiconductor partnerships, and the resilience in staples and utilities amid ongoing uncertainties.

In this week's podcast we cover the impact of a potential 25% tariff on non-US-made cars, which could lead to price hikes, but may not fully burden consumers. We also discuss concerns over consumer confidence, inflation, and GDP, with challenges in the housing market due to affordability issues. The conversation then shifts to technology, focusing on AI advancements, the challenges facing data centers, and CoreWeave’s IPO.

In this week's episode the team discusses the mixed economic outlook, with signs of a potential recession ahead. In tech, we explore how AI continues to dominate, with companies like Nvidia and Google leading innovations, while in the consumer sector, retail sales for companies like General Mills and Nike face challenges amid weak consumer confidence. There is also a conversation regarding FedEx, who is struggling with rising costs, consumer weakness, and geopolitical uncertainties, adding further pressure to the broader economic landscape.

In this week's episode, we discuss how recent market volatility has been driven by inflation concerns and uncertainty around tariff talks, leading to fluctuations in stock valuations and a 10% pullback. Tech companies, like Apple, are facing setbacks, such as delays in AI-powered Siri features, raising questions about their competitiveness, while consumer sentiment has dropped to its lowest since November 2022 due to inflation expectations. Also explored is that despite some market uncertainty, some consumer sectors are seeing growth. Additionally, we discuss the volatility in the fixed income market.

In this week's episode, we discuss the mixed signals in the manufacturing and service sectors, and the team highlights the potential for a "K-shaped" economy. Additionally, we dive into company specific news from Taiwan Semiconductor, Intel, Novo Nordisk and Okta, and discuss the concerns arising over the Chinese AI company DeepSeek amid national security issues.

In today's podcast, AMI's investment team provides an overview of economic trends. The team discusses the challenges in the technology sector, especially Nvidia’s slower-than-expected growth. The broader impact of high interest rates on market stability is also addressed. Finally the team touches on concerns over geopolitical tensions, layoffs, trade uncertainties and the issues with the housing market, which are all affecting current market sentiment.

Names that are discussed which are owned in AMI's strategies include Microsoft, Home Depot, Google, Amazon, Apple and Salesforce.

This week's discussion covers economic challenges in the consumer and industrial sectors, highlighting issues like tariffs, deregulation, and supply chain disruptions. AMI's investment team discusses the impact of M&A activity on companies, with a focus on consumer goods, while also emphasizing the effects of geopolitical tensions and government spending on the manufacturing and services sectors. The conversation concludes with concerns over rising interest costs for leveraged companies and their impact on the fixed income market, amidst broader economic uncertainty.