2 Question Tuesday Presented by Focused Wealth Management

Phil, Mike, and Larry talk about the new executive order that allows employees to invest in private assets through their 401(k) retirement plans and whether investors should incorporate private assets into their retirement portfolios. They then explain how the tariffs have caused the second monthly decline in shipping containers bringing imports to the U.S., which could lead to one of the sharpest...

Phil, Mike, and Larry explain how the new 50% tariff on copper and the ensuing price increase will hurt the economy. They then talk about the latest consumer price index reading jumping 0.3% in June for a 12-month inflation rate of 2.7% and whether this is the first sign of the tariffs working their way through the economy. Submit your questions to question@2questiontuesday.com As always, if you h...

Phil, Mike, and Larry explain how the passage of the Big Beautiful Bill and the renewal of the tax cuts could spark a summer rally. They then talk about how the markets will react now that the president has instituted tariffs on Japan, South Korea and other countries, and moved the deadline for tariff reprieve to August 1. Submit your questions to question@2questiontuesday.com As always, if you ha...

Phil, Mike, and Larry explain what the new U.S.-China trade deal means for the financial markets. They then talk about how the markets will react if President Trump removes Jerome Powell as chair of the Federal Reserve Bank. 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 (845) 691-4035.

Phil, Mike, and Larry explain why the stock market rose and oil prices fell the first trading day after the U.S. bombed Iran. They then talk about how President Trump’s immigration policies, the growing domestic protests, and the attack on Iran, could cause a $12 billion drop in the U.S. tourism industry and how this will affect the economy. Submit your questions to question@2questiontuesday.com A...

Phil, Mike, and Larry discuss Israel’s attack on Iran and what will happen in the oil and global markets if the Iranian regime falls and what happens if it stays in power. They then talk about whether it’s worth paying attention to consumer sentiment readings after the University of Michigan’s survey of consumer sentiment jumped 16% from last month, beating the Dow Jones estimate, and consumers no...

Phil, Mike, and Larry explain how an ADP Research report that said hiring decelerated to the slowest pace in two years — pointing to a weakened demand for workers — can exist with the Bureau of Labor Statistics reporting that non-farm payrolls rose for May, beating the estimate. They then talk about President Trump doubling the tariffs on steel and aluminum to 50% and how will this affect the econ...

Phil, Mike, and Larry discuss the negative factors affecting the Treasury bond market, such as the 30-year bond yield hitting 5%, a new survey saying investors expect the bond market to worsen, short positions climbing, and a new tax bill, which if passed will raise the country’s deficit. They then talk about the Court of International Trade blocking most of Trump’s tariffs, the federal appeals co...

Phil, Mike, and Larry first discuss the radical moves in the bond market. From March, when Phil was worried about the yield on the 10-year U.S. Treasury Bond falling below 4% to the reversal that saw the 10-year climb above 4.5% last week. They then talk about what the financial markets response will be if President Trump’s tax bill is passed and adds trillions to the country’s ballooning national...

Phil, Mike, and Larry discuss the five Republican hard-liners who voted against President Trump’s massive tax cut bill, called the Big Beautiful Bill, and what the market’s reaction will be if there is no tax cut. Also last week, Moody’s Ratings Agency downgraded the United States’ credit a notch to Aa1 from the highest rating, triple A. It cited the government’s massive budget deficit amid high i...

Phil, Mike, and Larry talk about the U.S. and China agreeing to roll back the tariffs for a 90-day period, what this means for the economy, and what happens after 90 days. They then discuss the hearings today in the Court of International Trade in New York, which will hear arguments about the legality of Trump’s tariffs. Submit your questions to question@2questiontuesday.com As always, if you have...

Phil, Mike, and Larry talk about the S&P 500’s tremendous bounce back from its April lows and why it’s doing so well even as gross domestic product fell. They then discuss the stronger-than-expected job growth in April — which eased concerns about tariffs and caused the yield on the 10-year U.S. Treasury bond to rise – and what they expect the Federal Reserve will do at its meeting this week....

Phil, Mike, and Larry talk about the S&P 500’s 11% rebound and whether this means the worst is over and we’ve seen the market’s bottom or if we should expect more downside. They then discuss why the markets are rising even though U.S. consumer sentiment in April fell to one of the lowest readings on record, 52.2 from 57 a month ago, and inflation expectations are the highest since 1981. Submit...

Phil, Mike, and Larry discuss if they agree with Larry Fink, who said the U.S. is already in a recession. Fink is the CEO of Blackrock, the world’s largest asset manager. Then they talk about President Trump’s desire to fire Federal Reserve Chairman Jerome Powell and how that will affect the markets. Submit your questions to question@2questiontuesday.com As always, if you have any questions at any...

Phil, Mike, and Larry talk about how the Fed’s preferred inflation reading rose higher than analysts’ forecasts — 0.4% from January and 2.8% from last year — sending the S&P 500 down for its fifth week out of the last six. They then discuss how the threat of tariffs has pulled forward purchases by consumers and businesses and whether that’s artificially propping up the economy and setting us u...

A dramatic shift in U.S. trade policy has markets reeling. In this special 2QT short, Philip DeAngelo and Michael Passante dissect the unexpectedly high tariffs, their implications for GDP and consumer spending, and how investors can navigate this era of uncertainty. Submit your questions to question@2questiontuesday.com As always, if you have any questions at any time, please feel free to call yo...

Phil, Mike, and Larry talk about how the S&P 500 Index plunged 10% last week, pushing the index close to bear territory, and how long they expect the market to keep falling. Then they discuss the rumor going around that the Trump Administration isn’t trying to stop the market slide because it wants Treasury yields to fall even more so that it can refinance $9 trillion in government debt that m...

Phil, Mike, and Larry talk about why the yield on the 10-year U.S. Treasury bond spiked to 4.5% last week. Then they discuss the one thing their clients need to know during this market turmoil that no one is telling them. 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 (845) 691-4035.

Phil, Mike, and Larry talk about how international stocks are outperforming the S&P 500 Index this year after years of underperformance and whether investors should be increasing their allocations of international stocks. They then discuss where they see the S&P 500 index going, now that it’s down 8% off of its record high and just broke its four week losing streak. Submit your questions t...

Phil, Mike, and Larry ponder the question “Do politics determine the market’s direction?” The current political climate would appear to prove this out. They then discuss whether the stock market hit a bottom last week when it entered correction territory. A recent survey by the American Association of Individual Investors, which showed bullish investor sentiment fell to its lowest point since Sept...

Phil, Mike, and Larry talk about the S&P 500, which fell 3% last week, and whether they expect it to fall much further. They then discuss the theory that the Trump Administration is intentionally trying to cause a recession. 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 (845) 691-4035.

Phil, Mike, and Larry talk about billionaire investor Steve Cohen, the head of the Point72 hedge fund. He said punitive tariffs, a crackdown on immigration, and cuts in federal spending, will have a negative effect on the economy. He predicts U.S. economic growth will slow to 1.5% and that the market could see a correction. They then discuss why the market gave up all of this year’s gains and what...

Phil, Mike, and Larry talk about last week’s stock market selloff after the Consumer Sentiment Index fell to 64.7 in February, a 10% drop from January’s number, and the lowest since November 2023. They then discuss the rumors of a so-called ‘Mar-a-Lago Accord’, in which President Trump could dramatically restructure America’s debt load by forcing some of the U.S.’s foreign creditors to swap their...

Phil, Mike, and Larry talk about how the stock market keeps advancing despite rising inflation — which eliminates the potential for more rate cuts — threats of more tariffs, and disappointing earnings from tech companies. Then they discuss the rumors of a proposed takeover of Intel and what it means for the chip industry. Submit your questions to question@2questiontuesday.com As always, if you hav...

Phil, Mike, and Larry talk about how the University of Michigan consumer survey for February showed that consumers are worried about inflation rising amid tariff fears. Consumer sentiment fell 5% from January to 67.8, and consumers now expect the inflation rate to be 4.3% a year from now. They then discuss last week’s disappointing earnings and future guidance from the big tech companies and what...