2 Question Tuesday Presented by Focused Wealth Management

This week on 2 Question Tuesday, Bob Sellers and Michael Passante discuss recent changes to major indexes, what they may mean for investors, and how the market performed in the first half of the year. They also cover small-cap strength, midterm-year uncertainty, and the key trends Michael is watching for the next six months. Submit your questions to question@2questiontuesday.com As always, if you...

Bob Sellers speaks with Phil DeAngelo and Michael Passante about international markets, U.S. large-cap technology, and emerging markets, and how they stay focused on fundamentals, diversification, and discipline instead of chasing market fads. Submit your questions to question@2questiontuesday.com As always, if you have any questions at any time, please feel free to call your adviser directly at (...

This week on Two Question Tuesday, Phil DeAngelo and Michael Passante welcome Bob Sellers, formerly of Fox and CNBC, as the new guest host. Bob leads a timely discussion on AI-driven markets, inflation, oil prices, and how investors can stay balanced through changing market conditions. Submit your questions to question@2questiontuesday.com As always, if you have any questions at any time, please f...

Phil, Mike, and Larry talk about the SpaceX IPO valuation versus what it actually does and earns, if the stock will crater when the lock-up period ends and insiders cash out, and what this will do to the stock market. They then discuss why technology and AI stocks fell in the runup to the SpaceX IPO and why investors are pulling back from the tech sector. Submit your questions to question@2questio...

Phil, Mike, and Larry discuss the possibility of a rate hike after Friday’s strong jobs report showed nonfarm payrolls in May increased more than double what Wall Street economists had expected, and pushed the 10-year Treasury bond past 4.5%. They then discuss private credit’s return to the headlines after Blackstone limited redemptions from the biggest private credit fund of its kind, at 5%, afte...

Phil, Mike, and Larry discuss the market capitalization of SpaceX’s initial public offering, about $1.75 trillion, and its ridiculous price-to-sales ratio of 93.7, with the 81% rise in the Philadelphia Semiconductor Index this year, and wonder if this means the market is in a bubble? They then talk about the stock market hitting new highs vs. how investors feel about the market and the economy, an...

Phil, Mike, and Larry discuss the SpaceX IPO, as well as the expected IPOs of Open AI and Anthropic, whether these new stocks will soon enter index funds, and how these IPOs will transform the stock market. They then talk about how Federal Reserve officials have been talking about dropping the Fed’s easing bias and raising interest rates if inflation continues to remain above 2%. Submit your quest...

Phil, Mike, and Larry discuss how the Iran War caused a spike in the Producer Price Index, a key inflation number. In April, the PPI rose 1.4 percent, the fastest one-month increase in four years, and jumped 6 percent from a year ago, nearly triple what forecasters had expected. They then talk about how inflation fears caused a global bond rout which pushed the yield on the 10-year Treasury bond p...

Phil, Mike, and Larry discuss Friday’s jobs report which said nonfarm payrolls rose 115,000 in April, down from the 185,000 created in March, and what these numbers tell us about the economy. Then they talk about the expectation that the Senate will confirm Kevin Warsh as Federal Reserve chair for a four-year term this week, how this will affect interest rates, and what the market reaction will be...

Phil, Mike, and Larry discuss while gross domestic product grew 2% in the first quarter, the geopolitical situation risks tempering growth as inflation-weary consumers become more guarded, and how will this change the consumer spending contribution to GDP. They then talk about whether deficits matter after Fitch Ratings warned the market that the US’s credit rating faces the challenges of a wideni...

Phil, Mike, and Larry discuss Energy Secretary Chris Wright’s comments about how gas prices could remain elevated until 2027 and what long-term effects this will have on the economy? They then discuss President Trump’s nominee to head the Federal Reserve, Kevin Warsh, and his desire to have the Fed adopt a new approach to measuring inflation called trimmed averages, and if this just about shifting...

Phil, Mike, and Larry discuss the stock market’s huge rally on the possibility of a peace agreement in the Iran War, even though the aftershocks of the oil crisis haven’t hit yet and will potentially affect the global economy in a negative way. They then talk about the abrupt resignation of the SEC’s head of enforcement, just six months into her term, raising questions about the agency’s ability t...

Phil, Mike, and Larry discuss how the Iran War caused the latest jump in inflation, how much higher they expect inflation to rise, and what this will do to the U.S. economy. They then talk about the private credit market which is facing an unprecedented surge in withdrawal requests from their investors and why this is happening. Submit your questions to question@2questiontuesday.com As always, if...

Phil, Mike, and Larry discuss Bloomberg and Forbes both quoting Phil last week on what he think about large-cap technology stocks with all the volatility at this moment. They then talk about  last week’s jobs report, which exceeded economists’ expectations threefold, and what this means for the market going forward. Submit your questions to question@2questiontuesday.com As always, if you have any...

Phil, Mike, and Larry discuss the recent ruling that found social media company Meta and video streaming service YouTube negligent in a landmark case that said their products were addictive, and what affect this will have on the broader social media industry. They then talk about the rare occurrence when all three stock market benchmarks fall below their 200-day moving averages at the same time, w...

Phil, Mike, and Larry discuss the rising price of oil as the Iran War continues and the roller coaster ride we’re seeing in the stock market. With most of the stock market ‘s benchmark indexes falling nearly 10%, which indicates a market correction, they ponder whether the stock and bond markets will continue to fall. They then talk about why the prices of gold and silver are falling even as infla...

Phil, Mike, and Larry discuss the sharp revision down in gross domestic product, the missed expectations, the rise in the Federal Reserve’s preferred gauge of inflation, the rise in the price of oil, and the outlook for interest rates. Will they go higher? They then talk about the biggest macroeconomic risks facing the U.S. economy right now?   Submit your questions to question@2questiontuesday.co...

Phil, Mike, and Larry discuss the price of oil climbing as high as $130 a barrel and what the repercussions for the global economy will be if the price stays above $100. They then talk about how the Federal Reserve will react to Friday’s jobs report which showed nonfarm payrolls fell by 92,000 in February, one of the largest declines since the pandemic, and the unemployment rate rose to 4.4%, comb...

Phil, Mike, and Larry discuss a theory that the U.S. bombing of Iran over the weekend, combined with the attack on Venezuela, are part of a strategy to cut off oil supplies to Cuba and China, with the hope of overturning Cuba’s government and China’s economic growth. They then talk about Iranian drones attacking oil refineries in the Mideast and what the significant risks to the global economy are...

Phil, Mike, and Larry talk about the Supreme Court’s ruling that President Trump’s tariffs are illegal. They delve into the potential for the government to unwind trade deals and pay billions of dollar in refunds, as well as the president’s new tariff regime. They then talk about what effect the State of the Union will have on the economy. Submit your questions to question@2questiontuesday.com As...

Phil, Mike, and Larry talk about Chinese regulators advising banks to rein in their holdings of U.S. Treasury bonds, citing concerns over concentration risk, market volatility, the safe haven status of U.S. debt, and the appeal of the dollar. Then they talk about the plan by President Trump and several governors to compel technology companies to fund new power plants, what happened to the plan, an...

Phil, Mike, and Larry talk about last week’s roller coaster in the stock market and Goldman Sachs’ prediction that there will much more selling this week due to trend-following algorithmic funds. They then discussed last month’s 118% increase in job cubs from a year ago, the largest number of job cuts for any January since the depths of the Great Recession, and why the stock market is ignoring the...

Phil, Mike, and Larry talk about Kevin Warsh, President Trump’s pick as Federal Reserve chief, and will the world markets feel that President Trump is taking control of the Fed? They then talk about the increased geopolitical risk in the world with the president’s moves against Venezuela, Greenland, and NATO. Submit your questions to question@2questiontuesday.com As always, if you have any questio...

Phil, Mike, and Larry talk about the Department of Justice’s lawsuit against Federal Reserve Chief Jerome Powell. Will this take the country closer to presidential control of the Fed, and a subsequent weakening of the dollar, and if so, should portfolios be rebalanced with more international exposure? They then discuss the two latest blow-ups in the world of private credit, Blackrock TCP and an Ap...

Phil, Mike, and Larry talk about capital leaving the U.S. -- sparking a big drop in the financial markets -- as President Trump’s comments on Greenland spark fear of a trade war, the end of NATO, and what Europe’s response will be. They then discuss why U.S. homebuilders’ confidence fell unexpectedly in January, despite lower mortgage rates and the president’s housing proposals. Submit your questi...