Bob Doll reviews last week’s market action: stocks rose near record highs amid strong earnings and expectations of imminent Fed rate cuts, while small caps and select sectors led gains.

He cautions that inflation metrics remain above the Fed’s 2% target and that tariffs, fiscal stimulus, and concentrated market leadership create upside inflation and policy risks that could reverse current complacency.

For a copy of this week's Doll's Deliberations click on the following link August 18 or go to www.crossmarkglobal.com for additional insight and investment solutions.