What's Next For Markets

In this episode, we’re joined by Danny Kirsch, Head of Options Strategy and the Trading Team at Piper Sandler. We recap the year’s market activity, discuss notable trading strategies, and look ahead to year-end and early-2025 positioning. Topics include key market catalysts, a standout options trade involving retail and the financial sector as optimistic bets for next year, and the potential impac...

In this episode, we discuss the market outlook and the economic cycle through Michael’s HOPE framework. We outline the four pillars—Housing, Orders, Profits, and Employment—and examine current themes, including an “E-shaped” economy. The conversation explores leading indicators that may signal improvement in 2026, trends in the housing market, and the broader impact of employment dynamics on growt...

In this episode, we recap our recent travels across Europe and the U.S., highlighting what we heard from clients and how market sentiment is shifting on both sides of the Atlantic. We break down the evolving investor outlook—especially growing concerns around interest rates, wage pressures, and unemployment trends. We also explore Bitcoin’s position as a high-beta asset increasingly tied to broade...

In this episode, we talk with Emily Needell Deputy Chief Investment Strategist at Piper Sandler, to discuss the dominance of 'The Mag Seven’. We delve into the unprecedented returns of these companies, over the past decade. The conversation covers the implications of these outsized returns on the market dynamics, the distortion they create, and the shifting definitions of what it means to out...

In this episode of What’s Next for Markets? , Michael Kantrowitz sits down with Craig Johnson, Chief Market Technician at Piper Sandler, to break down the latest trends driving equity markets. From the technical setup across major indices to the underlying sector leadership and sentiment shifts, Craig shares how his charts are framing the next phase of this market cycle. Together, they explore whe...

In this week's podcast episode, we dive into the nuances of missing government data with Piper Sandler Economist Jake Oubina. He highlights the reliability of alternative data sources like the Adobe Digital Price Index and various private surveys. We discuss the accuracy concerns surrounding Non-Farm Payroll (NFP) reports and how private data could steer better insights. Additionally, we focu...

In this episode we speak with Danny Kirsch, head of Piper Sandler's Options trading desk, about the recent market volatility and its implications. The discussion covers the spike in VIX and its impact on options trading, the state of regional banks following their earnings, and the effects of potential US-China trade agreements. Danny also provides insights into the differences between curren...

In this episode, Don Schneider provides a comprehensive update on the recent government shutdown developments and their potential duration. We delve into the political strategies of both parties, highlighting Schumer's decision and Trump's management tactics, which are softening the shutdown's impact. Don also explains the implications of the shutdown on data reporting and how it af...

T his week on What’s Next for Markets I’m sharing a short excerpt from my hour-long conversation with Adam Taggart (Thoughtful Money) . We discuss why the current backdrop looks like a post-inflation-shock “Goldilocks” environment, why earnings breadth appears to be healing , and what a broader leadership profile could mean for small caps, cyclicals, housing, and manufacturing. Decide for yourself...

In this episode, we discuss the uncommon, but not unprecedented, correlation between rising equity markets and increasing unemployment rates. We discuss the historical examples from the 1950s, 60s, 70s, 80s, and 90s to demonstrate how higher unemployment can actually be beneficial for stock prices in periods of inflation. The conversation covers the changing market dynamics post-2022's inflat...

In this episode, we welcome Alex Goldfarb to discuss the broad and complex world of real estate investment trusts (REITs) and the real estate industry. Alex sheds light on the transformation of real estate from a niche asset class to a mainstream investment option, highlighting the current trends and challenges in the sector. He delves into the dynamics of various real estate segments, including c...

In this episode, we discuss recent market trends and economic data. We dig into the upcoming flood of macroeconomic data and the implications of the Fed's upcoming actions. The discussion covers investor sentiment, the softening labor market, falling interest rates, and their influence on the markets, especially in housing and smaller companies. The episode discusses the importance of expecta...

In this episode of What's Next for Markets, we discuss the market's performance as we enter September, a typically weak month for equities. Despite initial volatility, the markets have been performing well, led by higher beta and value names. The discussion delves into sectoral leadership, factor performance, and the influence of major stocks like the 'Mag seven' on the overall...

In this episode, Stephen and Emily discuss the impressive recent performance in the equity markets, noting new all-time highs in the S&P 500 and significant gains since April. They explore the annualized returns, emphasizing the distinction between large growth and smaller cap stocks, and the effect of sustained higher interest rates on the latter. They delve into the anticipation of potential...

In this episode of What’s Next for Markets? , Michael Kantrowitz is joined by Jim Bianco, President and Macro Strategist at Bianco Research, for a wide-ranging conversation on the Fed, markets, and the bigger forces shaping the economy. Fresh off Jackson Hole, Michael and Jim dig into Jerome Powell’s latest message, the tension between inflation risks and a weakening labor market, and how immigrat...

In this episode, we dive into the complexities of the tech sector. The discussion highlights the significant growth and earnings performance of the tech industry, comparing today's landscape to the tech bubble of 2000. The episode also explore the relative performance of small caps and global tech, highlighting the importance of strong fundamentals over sector labels. The conversation touches...

In this episode, we wrap up 2Q earnings and look ahead to key data to watch. We discuss the generally positive market sentiment, driven by factors such as the pricing out of tariff and inflation risks and anticipation of rate cuts. A key focus is the upcoming CPI report on August 12th and its potential impact on the market’s “Goldilocks” narrative. We also explore trends in small caps versus large...

In this episode, We sit down with Benson Durham Head of Global Policy and Asset Allocation to discuss the dynamic landscape of financial markets amid key events and economic indicators. The conversation delves into the relationship between Chairman Powell and President Trump, market reactions to inflation and employment data, and the potential for rate cuts by the Federal Reserve. They analyze the...

In this episode, long-time colleagues Michael and Emily delve into the current state of the financial markets as they hit record highs. They discuss the impressive rebounds seen in meme stocks and high beta ETFs, along with the broader market's resilience despite underlying concerns. Key topics include the potential for continued bullish momentum, the impact of Federal Reserve policies on int...

In this episode, we discuss with Danny Kirsch the parallels between current market complacency and pre-Liberation Day conditions. Danny explores the implications of extreme call buying, SPACs resurgence, and market liquidity. The episode covers the market dynamics, examining the Fed's pressure to cut rates and its impact on long-term yields, the role of volatility control strategies, and the...

In this episode, Emily Needell, Deputy Chief Investment Strategist at Piper Sandler, joins us to explore the concept of "quality" in stocks. We discuss how quality is defined, the key metrics used to identify high-quality companies, and common misconceptions surrounding the term. Indicators such as high profitability, strong interest coverage ratios, and robust free cash flow are highlig...

In this episode, we have in an in-depth discussion with economist Jake Oubina about the current economic landscape. We discuss the Federal Reserve's potential actions, inflation trends, and the housing market outlook. Jake shares his insights on how uncertainty over the past six months has affected consumer behavior, housing, and labor markets. He emphasizes the importance of lower interest r...

In this episode, we speak with Alex Potter senior research analyst at Piper Sandler and take a deep dive into Tesla and its disruptive influence. The conversation touches on various broad topics including automakers, EVs, politics, infrastructure, energy usage, and technology. The discussion highlights Tesla's transformation of the auto industry and its broadened scope influencing tech, indus...

In this episode we discuss the market trends and events from the first half of 2025. Joined by Emily Needell, Deputy Chief Investment Strategist at Piper Sandler, the conversation covers the market's responses to policy changes, such as tariffs and deregulation, and the broad economic data trends this year. They highlight the v-shaped recovery and the bifurcation seen across different sectors...

In today’s episode, we discuss the ongoing uncertainty in global markets and reflect on the events from the past five years, including COVID-19, inflation, interest rates, geopolitical and their compounded effects on market volatility. In the episode, we provide insights into how investors can position amidst these uncertainties by focusing on companies with robust fundamentals and macro resilienc...