Charles Schwab's Mike Townsend calls the Supreme Court's decision to shut down President Trump's IEEPA tariffs "momentous." However, he argues it's not surprising either. He talks about other factors the Trump administration can take to issue global tariffs, including one it hinted at Friday. Mike calls the administration's next proposal a "bridge" that buys it time, though he sees more legal challenges ahead. As for refunds, Mike makes the case it could take years for them to be issued.

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Seth Denson gives his takeaways from the Supreme Court tariff ruling, and says it may have been “one of the biggest weeks” the market has had to process amid the rest of the economic data we got. He breaks down that data, including Jobless Claims, international trade news, and inflation rates. He thinks 2% inflation is “extremely overzealous” with this level of governmental spending: “between 2%-3% is a win.”

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Justin Bergner opines on the Supreme Court ruling on tariffs and stimulus expectations from the One Big Beautiful Bill. He shares small cap AI winners, looking at the other side of AI capex as the market moves into defensive and cyclical sectors. One of his favorites is Belden (BDC), which works in industrial automation.

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Cullen Rogers of Wedbush discusses the launch of their “Return on Leadership” U.S. Large Cap ETF (EXEQ). He explains the strategy behind the fund and how they find companies with “superior leadership.” AI is a key component because it helps crunch the language of earnings calls and other corporate communications. Top holdings include Steel Dynamics (STLD), GE Aerospace (GE), and PulteGroup (PHM).

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As the Trump administration navigates the U.S. Supreme Court's decision to overturn IEEPA tariffs, David Volpe talks about the processes available to reintroduce tariffs. As for the markets, David believes they continue to show resilience despite the expected uptick in volatility. Nvidia's (NVDA) earnings is what he points to as the next catalyst and a testament to continuing strength in the AI trade.

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Michael Green and Ken Kim break down the latest economic data. Ken expects a better GDP reading next quarter, citing the government shutdown. Michael thinks the “core component” to watch is year-over-year growth. They also cover the latest PCE report and where they think inflation is going. Ken thinks there might be rate cuts in the back half of the year.

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Likefolio’s Landon Swan previews Domino’s Pizza (DPZ) earnings, which are due out Monday. He notes that the stock has struggled over the last quarter despite posting decent numbers last quarter. “You’re starting to get some value questions on Domino’s,” he argues. Carryout is growing, and they’re trying to make their app “a habit” for consumers. Innovation is providing another boost.

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Eddie Yoon argues Consumer Sentiment data negativity is due to Gen Z, who are realizing “that they’re on their own.” He thinks the cohort is becoming more entrepreneurial as the working world is reshaped. He forecasts that Gen Z will prioritize “business formation over family formation” as average wedding ages rise, the birth rate slows, and housing remains unaffordable. He explains how this is impacting goods from minivans to children’s clothing to jewelry.

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Kenneth Leon and David Clement discuss Live Nation (LYV) after the company posted earnings and said they’re eyeing a record year. However, it still faces antitrust lawsuits from the U.S. government. Kenneth notes that it works in live events, which is seeing strength, but it is also a seasonal company, which puts scrutiny on its deferred revenue stream. David sees suggestions of post-pandemic normalization, but is concerned about the lawsuits.

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Matt Calkins, CEO of Appian (APPN), spotlights their latest quarter. “We just closed a terrific year,” he says as the stock rises in Friday trading. “We’re really hitting our strategy, which is AI-first, big-deal centric,” he adds. Matt argues that Appian is the perfect company to help CEOs find use and benefit from AI, and that the company is figuring out how to monetize their AI features. He also explains why Appian won’t be hit by the SaaS-pocalypse.

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