Schwab Network

Sean Brennan has concerns that consumer spending will pull back as Americans feel more pressure to save for retirement. He points to healthcare savings as the biggest fulcrum point to keep in mind.

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Earnings continue to be the driver behind the stock market's growth despite lingering geopolitical risk, says Tom White, as all indices except the Nasdaq-100 (NDX) hover just off record highs. He explains how Alphabet (GOOGL), Amazon (AMZN), Microsoft (MSFT) and other Big Tech prints added much needed muscle to stocks. Tom then touches on Berkshire Hathaway (BRK/B) earnings and how the company added more to its portfolio. Also on his radar: Meta Platforms (META) releasing new AI models.

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Crude oil prices are up again but investors don't seem to care, argues Molly Pieroni, as tensions surrounding the Strait of Hormuz persist. She offers more insight into energy company earnings and how the U.S.-Iran war remains a sticking point for corporations. Molly also talks about her stock picks in Canadian Natural Resources (CNQ) and Diamondback Energy (FANG).

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Marley Kayden looks at the weak July jobs report, cooling wage growth and the declining odds of a September Fed rate hike, while also examining the widening divide between luxury and starter-home sales. Sam Vadas highlights a rally in First Solar (FSLR) following new U.S. trade protections and looks at China’s latest push to close the AI gap with U.S. companies. The pair also previews next week’s inflation data and a packed slate of tech earnings.

The latest U.S. jobs data points to a softening labor market, according to David Krakauer. He discusses the implications for potential stagflation and GDP growth, noting that equity markets often react positively to soft economic data in hopes of a Federal Reserve rate hike delay. David also unpacks the phenomenon of "IPO FOMO," advising investors to distinguish between a good company and a good investment, particularly when considering highly anticipated public offerings like SpaceX, Anthropic, and OpenAI. He suggests a systematic, rules-based approach to new IPOs within a diversified portfolio.

AvePoint (AVPT) CFO Jim Caci discusses the company’s latest earnings report and its growing focus on AI trust and governance. Caci says executives are increasingly concerned about AI models, data security and how to safely deploy the technology, creating demand for tools that help businesses protect sensitive information and costs while still benefiting from AI.

Lisa Flicker, Senior Managing Partner and Head of Real Estate at Jackson Lucas, dissects the nuances of the latest jobs report. She argues that despite initial appearances, the report reflects a multi-speed economy, with significant infrastructure investments driving continued hiring in finance sectors. Flicker also addresses the role of artificial intelligence, suggesting it will create new jobs requiring top-tier talent rather than reducing overall employment. She concludes by discussing the report's potential influence on Federal Reserve policy and its implications for interest rates and capital costs.

Jeffrey Cleveland from Payden & Rygel dissects the July jobs report, noting the surprising -23,000 revision in prior months' job creation. He attributes some of the perceived weakness to seasonal adjustments, particularly in government hiring, while highlighting continued positive momentum in construction and manufacturing. Cleveland also delves into the structural issues affecting labor force participation, such as an aging population, but points to an uptick in prime-age labor force participation as a silver lining. The conversation also touches on the potential impact of artificial intelligence on junior analyst positions, though Cleveland emphasizes that AI at Payden & Rygel (PAYDEN) enhances human productivity rather than replacing it.

With Nvidia (NVDA) rallying 10% this week, John Belton of Gabelli Funds expects another strong quarter as continued hyperscaler CapEx spending supports demand, with Elon Musk saying SpaceX (SPCX) plans to exclusively use Nvidia chips. Belton also says AMD (AMD) is clearly benefiting from agentic AI demand and sees its upcoming product launches as an opportunity to take share from Nvidia’s GPU business.

Shawn Robbins from Fandango discusses how Spider-Man: Brand New Day is the latest film to deliver a blockbuster opening weekend at the box office. He says strong in-theater demand is extending beyond superhero franchises and explains what studios are doing right to bring moviegoers back to the big screen.