The Morning Filter

In this new episode of The Morning Filter podcast, co-hosts Dave Sekera and Sarah Hansen unpack a very bumpy week in the markets, from a dramatic selloff in AI-linked names and an ongoing rotation from growth to value to a huge rally in the Treasury market. They cover what to watch for in upcoming earnings reports from Alphabet, Microsoft, Amazon, and more. They also recap a busy week of earnings and new research on SpaceX SPCX, Meta META, and Tesla TSLA. 

They answer a viewer question about Morningstar’s star ratings for stocks, and Dave explains how to incorporate those ratings into a broader investment strategy. They wrap up with five stock buys that are trading at big discounts. 

Episode Highlights  

• What’s behind the AI selloff and rally in Treasury bonds. 
• Expectations for the October Fed meeting. 
• What to watch in upcoming earnings from Alphabet GOOGL, Microsoft MSFT, and Amazon AMZN.  
• Is Hasbro HAS still a buy after earnings? 
• What slowing growth at Netflix NFLX means for the stock. 
• How to incorporate Morningstar’s stock ratings into your investment strategy. 
• Stocks to buy while they’re trading at big discounts. 

Read about topics from this episode.  

Q4 2026 Stock Market Outlook: Individual Stock Selection Looks Increasingly Important 

Read Dave’s complete archive. 

Got a question for Dave? Send it to [email protected].  

Follow Dave Sekera on X (@MstarMarkets) and on LinkedIn (Dave Sekera) to subscribe to his weekly newsletter and keep up to date with his latest research. Follow Morningstar on Facebook (MorningstarInc), X (@MorningstarInc), Instagram (MorningstarInc) and LinkedIn (Morningstar). 

If you would like more information about any of the stocks Dave talked about today, you can visit Morningstar.com for more details. Subscribe to The Morning Filter to get notified when we post next. 

This episode is sponsored by Vanguard: https://advisors.vanguard.com/engagement/fixed-income 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this new episode of The Morning Filter podcast, co-hosts Dave Sekera and Sarah Hansen recap last week’s market activity, including the rotation out of growth stocks and how hotter-than-expected inflation data contributed to another spike in Treasury yields. They unpack what the market is now pricing in when it comes to monetary policy and economic growth.  

They also cover what to watch in upcoming earnings reports from Meta, Telsa, Western Digital and Nebius Group NBIS, and discuss the key takeaways from Progressive PGR and ASML, and Schwab SCHW after earnings. 

Tune in for a deep dive with Michael Hodel, director of communication services equity research for Morningstar, who explains SpaceX’s recent purchase of wireless spectrum infrastructure and what it means for the major US telecom firms. We wrap up the show with four stocks to buy while they’re still undervalued.  

Episode Highlights  

• How hot inflation data moved the market last week. 
• Earnings to have on radar: Meta META, Tesla TSLA, Western Digital WDC, and more. 
• Takeaways from big bank earnings. 
• What we think of chipmaker ASML’s ASML growth prospects. 
• How SpaceX’s SPCX recent purchase of wireless infrastructure affects our view of US telecom giants Verizon VZ, T-Mobile TMUS, and AT&T T. 
• Undervalued stocks to buy for the long term. 

Read about topics from this episode.  

Q4 2026 Stock Market Outlook: Individual Stock Selection Looks Increasingly Important 

Read Dave’s complete archive. 

Got a question for Dave? Send it to [email protected].  

Follow Dave Sekera on X (@MstarMarkets) and on LinkedIn (Dave Sekera) to subscribe to his weekly newsletter and keep up to date with his latest research. Follow Morningstar on Facebook (MorningstarInc), X (@MorningstarInc), Instagram (MorningstarInc) and LinkedIn (Morningstar). 

If you would like more information about any of the stocks Dave talked about today, you can visit Morningstar.com for more details. Subscribe to The Morning Filter to get notified when we post next. 

This episode is sponsored by Vanguard: https://advisors.vanguard.com/engagement/fixed-income 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this bonus episode of The Morning Filter podcast, host Dave Sekera sits down with Morningstar Chief Economist Preston Caldwell to discuss their market and economic outlooks heading into the end of 2026. Tune in to find out why stock selection is becoming increasingly important, what valuations are signaling to investors, and how to position your portfolios as market risks continue to build. 

They unpack expectations for economic growth, inflation, and interest rates and discuss how the artificial intelligence boom is affecting the economy. They close by talking about mega-cap stocks, what’s behind the rise in bond yields, and why conditions in private credit continue to worsen. 

Episode Highlights  

• A third-quarter performance recap and where US stocks stand today. 
• The key risks to watch in Q4. 
• Which sectors, styles, and market caps offer opportunities, and where valuations look stretched. 
• Morningstar’s latest list of analyst stock picks. 
• Morningstar’s US economic outlook heading into 2027. 
• What rising rates and growing strains in private credit mean for fixed-income investors. 

Read about topics from this episode.  

Q4 2026 Stock Market Outlook: Individual Stock Selection Looks Increasingly Important 

Have an idea for a bonus episode of The Morning Filter? Send it to [email protected]. 

Follow Dave Sekera on X (@MstarMarkets) and on LinkedIn (Dave Sekera) to subscribe to his weekly newsletter and keep up to date with his latest research. Follow Morningstar on Facebook (MorningstarInc), X (@MorningstarInc), Instagram (MorningstarInc) and LinkedIn (Morningstar). 

If you would like more information about any of the stocks Dave talked about today, you can visit Morningstar.com for more details. Subscribe to The Morning Filter to get notified when we post next. 

This episode is sponsored by Vanguard: https://advisors.vanguard.com/engagement/fixed-income 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this new episode of The Morning Filter podcast, co-hosts Dave Sekera and Sarah Hansen cover why the stock market has been resilient even as interest rates continue to rise in the United States and abroad.  

They look ahead to inflation data and big bank earnings next week. They cover what to watch for in ASML’s upcoming earnings report, and discuss why Morningstar raised its fair value estimate on chipmaker Marvell to $360.  

They answer a viewer’s question about the barbell strategy as it relates to undervalued tech stocks, and dig into Dave’s list of five stocks to sell for tax-loss harvesting. 

Episode Highlights  

• Why have stocks been resilient even as interest rates rise, and what’s going on in the Treasury market? 
• What new inflation data will mean for the Federal Reserve. 
• What to watch when big banks including JPMorgan JMP, Bank of America BAC, Goldman Sachs GS and more report earnings.  
• Chip stocks: What ASML’s ASML earnings report could reveal about the state of the semiconductor industry, and why we raised our fair value estimate for Marvell MRVL. 
• How to use a barbell strategy when big tech looks undervalued. 
• Sell these stocks for tax-loss harvesting.  

Read about topics from this episode.  

Q4 2026 Stock Market Outlook: Individual Stock Selection Looks Increasingly Important 

Read Dave’s complete archive. 

Got a question for Dave? Send it to [email protected].  

Follow Dave Sekera on X (@MstarMarkets) and on LinkedIn (Dave Sekera) to subscribe to his weekly newsletter and keep up to date with his latest research. Follow Morningstar on Facebook (MorningstarInc), X (@MorningstarInc), Instagram (MorningstarInc) and LinkedIn (Morningstar). 

If you would like more information about any of the stocks Dave talked about today, you can visit Morningstar.com for more details. Subscribe to The Morning Filter to get notified when we post next. 

This episode is sponsored by Vanguard: https://advisors.vanguard.com/engagement/fixed-income 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this new episode of The Morning Filter podcast, co-hosts Dave Sekera and Susan Dziubinski recap September’s market activity and discuss what types of stocks to invest in—and avoid—heading into October. Tune in to find out which earnings reports to watch for this week and why Morningstar cut its fair value estimate on Micron Technology by $150 after earnings. 

They share new Morningstar research about McCormick and Carnival and answer viewer questions about former stock pick Clorox. They close the show with three stocks to sell and three stocks to buy in October. 

Episode Highlights  

• September’s stock market recap: It could’ve been worse 
• What to invest in—and what to avoid—in October 
• Whether Constellation Brands’ STZ stock could pop after earnings this week 
• What drove Morningstar’s big fair value estimate cut on Micron Technology MU,  
• Whether McCormick MKC or Carnival CCL look like stocks to buy after reporting 
• An update on former stock pick Clorox CLX 
• Stocks to sell and stocks to buy for the new month 

Read about topics from this episode.  

Bonus episode: Why Broadcom Stock Is Worth $650 

Read Dave’s complete archive. 

Got a question for Dave? Send it to [email protected].  

Follow Dave Sekera on X (@MstarMarkets) and on LinkedIn (Dave Sekera) to subscribe to his weekly newsletter and keep up to date with his latest research. Follow Morningstar on Facebook (MorningstarInc), X (@MorningstarInc), Instagram (MorningstarInc) and LinkedIn (Morningstar). 

If you would like more information about any of the stocks Dave talked about today, you can visit Morningstar.com for more details. Subscribe to The Morning Filter to get notified when we post next. 

This episode is sponsored by Vanguard: https://advisors.vanguard.com/engagement/fixed-income 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this new episode of The Morning Filter podcast, co-hosts Dave Sekera and Susan Dziubinski weigh the impact that rising yields and lower oil prices had on the stock market last week. They look ahead to this week’s inflation and jobs reports, and cover what to watch for in the earnings reports from triple-digit-club member Micron Technology as well as Nike and McCormick. They share key takeaways from Costco’s COST and Darden Restaurants’ DRI results. And they provide updates on former stock picks Lennar and Berkshire Hathaway; tune in to find out which of the two is the better stock to buy today.

Hear what they think about the entertainment industry as an investment idea. They close the show with several stocks to buy that still look undervalued even after their recent rallies.

Episode Highlights  

• Is it time to worry about Treasury bond yields?
• Which economic reports to watch this week.
• Can Micron Technology’s MU momentum continue?
• Nike NKE and McCormick MKC: Is either beleaguered stock worth buying before earnings?
• Berkshire Hathaway’s BRK.A BRK.B big investment in Lennar LEN and which stock is the better buy today.
• Our take on the entertainment industry.
• Four stocks that are up a ton that have more room to run.

Read about topics from this episode.  

September Stock Market Outlook: How to Position Your Portfolio During a Risky Stage 

Read Dave’s complete archive. 

Got a question for Dave? Send it to [email protected].  

Follow Dave Sekera on X (@MstarMarkets) and on LinkedIn (Dave Sekera) to subscribe to his weekly newsletter and keep up to date with his latest research. Follow Morningstar on Facebook (MorningstarInc), X (@MorningstarInc), Instagram (MorningstarInc) and LinkedIn (Morningstar). 

If you would like more information about any of the stocks Dave talked about today, you can visit Morningstar.com for more details. Subscribe to The Morning Filter to get notified when we post next. 

This episode is sponsored by Vanguard: https://advisors.vanguard.com/engagement/fixed-income 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this bonus episode of The Morning Filter podcast, co-host Dave Sekera sits down with senior analyst William Kerwin to talk about Broadcom. They unpack the company’s three key business buckets—XPUs, networking chips, and software—and break down the company’s relationships with major customers like Alphabet, Anthropic, OpenAI, and Meta Platforms META. They also discuss the mix shift of AI spending over time, what that shift will mean for Broadcom’s business, and how Broadcom stacks up against its competitors. 

Tune in to hear Morningstar’s forecasts for Broadcom’s revenue, earnings, cash flow, and margins, why we think Broadcom will maintain its wide Morningstar Economic Moat Rating despite the changing AI landscape, key assumptions behind our $650 fair value estimate, and why we believe the stock is underappreciated in the market. 

Episode Highlights  

0:00:00 Welcome 

00:02:47 Broadcom’s AVGO key business lines. 

00:05:50 XPUs, GPUs, TPUs: What’s the difference? 

00:12:54 Where the relationship with Alphabet GOOGL may be headed—and what it could mean for Broadcom’s future. 

00:14:26 Who Broadcom’s competitors are today and what threat they pose. 

00:22:14 The potential impact of artificial intelligence regulation. 

00:23:01 Morningstar’s forecasts for Broadcom’s revenue, earnings, and profit margins. 

Read about topics from this episode.  

Broadcom Stock Fell 3% After Earnings Despite Immense AI Chip Demand 

Check out more research from William Kerwin. 

Got a question for Dave? Send it to [email protected].  

Follow Dave Sekera on X (@MstarMarkets) and on LinkedIn (Dave Sekera) to subscribe to his weekly newsletter and keep up to date with his latest research. Follow Morningstar on Facebook (MorningstarInc), X (@MorningstarInc), Instagram (MorningstarInc) and LinkedIn (Morningstar). 

If you would like more information about any of the stocks Dave talked about today, you can visit Morningstar.com for more details. Subscribe to The Morning Filter to get notified when we post next. 

This episode is sponsored by Vanguard: https://advisors.vanguard.com/engagement/fixed-income 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this new episode of The Morning Filter podcast, co-hosts Dave Sekera and Susan Dziubinski discuss last week’s market highlights, including the Fed’s interest-rate hike and the 10-year Treasury yield’s push above 5%, and debate how much longer the current bout of market uncertainty may last. They explain why to keep an eye on Costco and Darden Restaurants this week. And they review several former stock picks after earnings and reveal which remain stocks to buy today. 

Tune in for a deeper dive into one of last week’s stock picks, Tesla. The show wraps with a few quality stocks to buy on recent weakness. 

Episode Highlights  

• What mattered in the market last week 
• Earnings to have on radar: Costco COST and Darden Restaurants DRI 
• Which of these stock picks we still like today and which ones may be value traps: Lennar LEN, RH RH, Veeva Systems VEEV, CNH Industrial CNH, Northrop Grumman NOC, Hasbro HAS, Scotts Miracle Gro SMG 
• How we’re thinking about Tesla TSLA as an investment today 
• High-quality stocks that’ve pulled back and now look attractive 

Read about topics from this episode.  

September Stock Market Outlook: How to Position Your Portfolio During a Risky Stage 

Read Dave’s complete archive. 

Got a question for Dave? Send it to [email protected].  

Follow Dave Sekera on X (@MstarMarkets) and on LinkedIn (Dave Sekera) to subscribe to his weekly newsletter and keep up to date with his latest research. Follow Morningstar on Facebook (MorningstarInc), X (@MorningstarInc), Instagram (MorningstarInc) and LinkedIn (Morningstar). 

If you would like more information about any of the stocks Dave talked about today, you can visit Morningstar.com for more details. Subscribe to The Morning Filter to get notified when we post next. 

This episode is sponsored by Vanguard: https://advisors.vanguard.com/engagement/fixed-income 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

In this new episode of The Morning Filter podcast, co-hosts Dave Sekera and Susan Dziubinski discuss whether the market is really undervalued and what risks investors need to keep on radar. They preview this week’s Fed meeting and some key earnings, too. Tune in to find out if cybersecurity’s Palo Alto Networks or Zscaler are buys after earnings, what to make of Ciena’s CIEN stock slump, and whether Medtronic and Amphenol remain stock picks after their recent rallies.  

They answer a viewer question about the pros and cons of American Depositary Receipts (ADRs) as a way to invest internationally. The episode wraps up with seven undervalued mega-cap stocks to buy. 

Episode Highlights  

• What today’s concentrated market undervaluation is telling investors and the risks to monitor 
• Expectations for this week’s Fed meeting 
• Whether cybersecurity stocks Palo Alto Networks PANW and Zscaler ZS look attractive after earnings 
• Unpacking good and bad news from former stock picks Medtronic MDT, Campbell’s CPB, Amphenol APH, and Lululemon LULU 
• What ADRs are and how they work 
• Mega-cap stocks to buy that look undervalued 

Read about topics from this episode.  

September Stock Market Outlook: How to Position Your Portfolio During a Risky Stage 

Read Dave’s complete archive. 

Got a question for Dave? Send it to [email protected].  

Follow Dave Sekera on X (@MstarMarkets) and on LinkedIn (Dave Sekera) to subscribe to his weekly newsletter and keep up to date with his latest research. Follow Morningstar on Facebook (MorningstarInc), X (@MorningstarInc), Instagram (MorningstarInc) and LinkedIn (Morningstar). 

If you would like more information about any of the stocks Dave talked about today, you can visit Morningstar.com for more details. Subscribe to The Morning Filter to get notified when we post next. 

This episode is sponsored by Vanguard: https://advisors.vanguard.com/engagement/fixed-income 

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Plus, whether Nvidia, Marvell Technology or Salesforce look attractive after earnings.

In this new episode of The Morning Filter podcast, co-hosts Dave Sekera and Susan Dziubinski share what really mattered in the market last week (hint: Nvidia). They give an update on the prospects of cybersecurity stocks after Okta OKTA and CrowdStrike CRWD put up great results and before Zscaler ZS and Palo Alto Networks PANW report this week. 

Tune in find out what to watch for in the earnings from Broadcom AVGO and Lululemon LULU and whether Nvidia, Salesforce CRM or Marvell Technology MRVL look like stocks to buy after earnings. They close the show with sectors and stocks to buy and avoid in September.

Episode Highlights 

Why Nvidia’s NVDA results were so important

Whether cybersecurity stocks still look attractive after their recent run-up

What economic and earnings reports to keep on your radar this week

Which technology stocks look attractive after earnings

Should investors throw in the towel on The Trade Desk TTD?

The sectors that have historically done well—and not so well—in September

Stocks to buy and sell for the month ahead

Read about topics from this episode. 

Where the Stock Market May Be Heading Next and What to Buy Now

Read Dave’s complete archive.

Got a question for Dave? Send it to [email protected]. 

Follow Dave Sekera on X (@MstarMarkets) and on LinkedIn (Dave Sekera) to subscribe to his weekly newsletter and keep up to date with his latest research. Follow Morningstar on Facebook (MorningstarInc), X (@MorningstarInc), Instagram (MorningstarInc) and LinkedIn (Morningstar).

If you would like more information about any of the stocks Dave talked about today, you can visit Morningstar.comfor more details. Subscribe to The Morning Filter to get notified when we post next.

This episode is sponsored by Vanguard: https://advisors.vanguard.com/engagement/fixed-income

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.