Doll’s Deliberations

Bob Doll reviews a volatile week dominated by a Democratic midterm sweep, equity declines, and sector rotation driven by election outcomes and AI investment questions.

He explains how AI is moving into a more selective phase—highlighting data center costs, capital spending translation to earnings, and potential regulation—while noting rising inflation, higher rates ahead, and persistent market volatility.

The episode concludes with a cautiously upbeat economic outlook tempered by risks from an AI trade unwind, possible tax increases after 2028, and continued sector-level winners and losers.

For a copy of this week's Doll's Deliberations click on the following link September 9 or go to www.crossmarkglobal.com for additional insight and investment solutions. 

Bob Doll reviews a volatile week: major tech and AI stocks cooled, credit spreads widened, and bond yields have been capped by risk-off moves even as the economy shows solid growth. Energy prices and persistent geopolitical tensions remain a material headwind.

The episode highlights rising risks from a deflating AI investment boom, the potential for a growth scare if wealth losses mount, and why Crossmark is more constructive on bonds and more cautious on equities while watching Fed policy and AI CapEx closely.

For a copy of this week's Doll's Deliberations click on the following link November 2 or go to www.crossmarkglobal.com for additional insight and investment solutions. 

Bob Doll reviews mixed markets where AI-related tech strains cooled enthusiasm, energy prices remain a persistent headwind, and bonds rallied as yields eased. Corporate profits and resilient growth keep broad credit steady, but concentrated AI financing risks and geopolitical supply threats could trigger wider volatility.

This episode outlines ten key market signals — from housing starts and Fed outlooks to earnings, credit spreads, and political noise — and concludes consolidation may be temporary unless AI investment reverses sharply or broader credit stresses emerge.

For a copy of this week's Doll's Deliberations click on the following link October 26 or go to www.crossmarkglobal.com for additional insight and investment solutions.

Bob Doll explains how a recent easing in bond yields—driven partly by cracks in the AI trade—could provide a temporary lift to equities, even as global growth remains robust and inflation stays stubbornly above target.

He highlights risks from a potential renewed rise in yields, the Fed’s likely pacing, mixed sector performance, and why investors should watch rates, corporate profits, and policy as markets adapt to a higher-yield world.

For a copy of this week's Doll's Deliberations click on the following link October 19 or go to www.crossmarkglobal.com for additional insight and investment solutions. 

Bob Doll reviews the week: modest stock gains, improving breadth, and sector winners in staples, utilities and energy, while technology and industrials lag. His essay "Sticky Inflation Will Eventually Cause More Problems for Markets" argues that rising real yields reflect stronger growth, prompting central banks to keep rates higher.

Key takeaways: the U.S. economy is resilient but faces slowdown risks from higher oil, tighter policy and rising yields; large deficits and elevated debt are a concern; bonds and equities look similarly valued and tech concentration is high. Yields may consolidate, but further upward pressure could cause market stresses.

For a copy of this week's Doll's Deliberations click on the following link October 12 or go to www.crossmarkglobal.com for additional insight and investment solutions. 

Quarter-end review of Q3 2026: mixed equity performance, surging 10-year yields, and very strong corporate earnings amid resilient economic activity. Key drivers include higher oil prices, renewed Fed rate hikes, and heavy AI-driven investment.

The episode outlines risks from rising bond yields and sticky inflation, the durability of earnings, and the potential for a pullback if yields continue to break out. It ends with five conclusions and ten practical assumptions for Q4 to help investors plan and consider de-risking if bond volatility persists.

For a copy of this week's Doll's Deliberations click on the following link Q3 2026 or go to www.crossmarkglobal.com for additional insight and investment solutions.

Markets rallied last week with the S&P 500 up 1.25% and the NASDAQ at a record high, led by technology, communications, and healthcare while utilities, energy, and financials lagged.

However, a breakout in the U.S. 10‑year Treasury yield above 5% amid stronger‑than‑expected PMI readings and hawkish Fed moves sparked concerns — higher yields reflect robust growth, persistent inflationary pressures, rising deficits, and revived corporate borrowing.

The episode advises caution: consider de‑risking if yields continue to rise, monitor CCC credit spreads and global credit conditions, and note political and earnings outlooks.

For a copy of this week's Doll's Deliberations click on the following link September 28 or go to www.crossmarkglobal.com for additional insight and investment solutions. 

Bob Doll reviews last week’s market action: the Fed’s rate hike, oil above $100, rising bond yields, and AI-driven corporate borrowing, and asks whether the gradual rise in yields could eventually turn disorderly.

He outlines resilient equity earnings and sector performance, highlights inflation and fiscal risks, and concludes investors should favor stocks over bonds while remaining prepared for bond-market volatility.

For a copy of this week's Doll's Deliberations click on the following link September 21 or go to www.crossmarkglobal.com for additional insight and investment solutions. 

Bob Doll reviews last week’s market moves: S&P 500 slipped, Brent crude neared $100, and core inflation and long-term bond yields have pushed higher, increasing pressure on equities.

He discusses the geopolitical strains between the U.S. and Iran, a regional trade dispute with Canada, and how rising oil and inflation expectations are impacting consumer sentiment, earnings outlooks, and Fed policy risk ahead of the midterms.

Despite a supportive economic backdrop that favors stocks over bonds, Doll warns markets may be pricing in an overly optimistic scenario and highlights key risks — including slowing earnings, sharper rate moves, and persistent deficits — that could unsettle asset prices.

For a copy of this week's Doll's Deliberations click on the following link August 14 or go to www.crossmarkglobal.com for additional insight and investment solutions. 

Bob Doll reviews the week: mixed stock performance, rising interest rates and oil prices, and strong corporate profits supporting equities despite growing bond market stress. The Fed’s hawkish signals, sticky inflation, and geopolitical risks are pushing yields higher, creating a challenging backdrop for both stocks and bonds.

The episode argues for a tilt toward international markets, highlights key economic data and risks ahead (including elections and AI-related credit stress), and explains why rising bond yields could limit future equity gains even as the global economy remains resilient.

For a copy of this week's Doll's Deliberations click on the following link September 8 or go to www.crossmarkglobal.com for additional insight and investment solutions.