Schwab Network

Talley Leger is surprised to find himself more bullish than expected in 2026, highlighting a still-strong economy and neutral Fed to support his bullishness. He takes a "step back" perspective for investors and touches on how a Kevin Warsh-led FOMC opens the door for a deeper bull run. While there's some weakness in stocks as Wall Street weighs on inflation and job market goals, he tells investors to treat the pullbacks as "gifts, not punishments."

"There are no winners in a trade war," says Michelle Gibley of @CharlesSchwab, who points to consumers as a key losers. She sees that trend holding after the U.S. issued more tariffs against Canada. Michelle adds that the picture will be further complicated as trade relations between the U.S. and China turn murky. Kasey McCurdy tells investors to keep an eye on Fed Chair Kevin Warsh and the FOMC's Jackson Hole symposium. Both address Nvidia (NVDA) earnings as a catalyst to watch.

The U.S.'s "warning shot" to Iran through issuing sanctions is something Peter Tchir sees leading to a "miserable" speedbump between U.S. and China relations. The reason? Crude oil and continued tensions centered on the Strait of Hormuz. Peter adds that the U.S. Treasury's big liquidity boost puts a band-aid over the concerns in yield increases but doesn't cover the core inflation issue.

After Bitcoin touched $80,000 for the first time since May, Cory Klippsten believes this uptrend signals the start of crypto's next bull run. He believes the added liquidity to bonds and liquidized shorts gave new life to Bitcoin, though he remains skeptical of the Clarity Act's power in expanding the runway. Cory sees $100,000 as a milestone that's back on the table for Bitcoin if it can break strong resistance levels and overcome inflation headwinds.

Andrew Wells believes the Treasury's planned liquidity boost to longer-term bonds will add long-term pressure to fixed income markets. He points to the "big move" in yields, from the 10-year to the 30-year, as a bigger warning sign than he believes the Treasury is seeing. Andrew adds to his input by explaining how it all weighs on the Fed's interest rate outlook and this week's Jackson Hole symposium.

The 2026 IPO market is proving to be a more mixed picture than Jim Neesen expected. He explains what reset some expectations for IPOs this year and how it sets the stage for other potential Big Tech public debuts like Anthropic and OpenAI. "There is a lot of appetite" for Anthropic, says Jim, as the company has its sights on a tentative $2 trillion valuation.

Justin Bergner talks about Gabelli Dividend Growth Fund holdings including Alphabet (GOOGL), Amazon (AMZN), Merck (MRK), and Ferguson Enterprises (FERG) in the context of countervailing market forces. With rising yields, the U.S. budget deficit, and hyperscaler CapEx, what could cause a market correction? Bergner is focused on “bottoms up” equity research to find “idiosyncratic winners.”

Brooks Hiller, a rising senior at Indiana University and the President of Sample Gates Management, explains what it’s like balancing the demands of being a college student while also running a real estate fund, lays out what makes SGM one of a kind and looks ahead to entering the workforce after graduation.

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The cost of pennies and nickels now cost more to produce than they are actually worth. What does this mean for the future of cash? John Deal says the physical U.S. dollar still has a place in the economy even as credit and debit card usage accelerates.

With the weakening consumer, and both the U.S. Treasury and the Federal Reserve trying to keep demand strong by lowering rates, Luke Lloyd, President and CEO of Lloyd Financial Group, thinks “it is a perfect time to get longer duration.” He thinks higher rates would lead to a recession, and is more focused on unemployment risk than on oil or geopolitics.