Markets fell after the Iran attack, with the S&P down about 2% as investors rotated to cash amid geopolitical risk, stretched AI-related valuations, private credit concerns, and elevated earnings expectations.

Sectors diverged: energy held up while materials, staples, healthcare and industrials led losses. Short-term volatility and oil sensitivity are elevated, but broad macro momentum, accommodative policy, and supply potential make a severe global slowdown unlikely unless the conflict escalates dramatically.

Conclusion: It is premature to overhaul a 6–12 month investment strategy. Stay cautious on U.S. equity valuations and bonds over the next year, favor geographic diversification including international and emerging markets, monitor oil and inflation, and separate short-term noise from fundamentals.

For a copy of this week's Doll's Deliberations click on the following link March 9 or go to www.crossmarkglobal.com for additional insight and investment solutions.

Stocks were mixed last week as the S&P fell modestly while equal-weighted indexes and many non-U.S. markets outperformed. Big tech weakness—led by a nearly 7% drop in NVIDIA—contrasted with gains in utilities, consumer staples, healthcare, and energy.

The episode argues that calmer or lower U.S. Treasury yields have supported risk assets despite AI-driven dislocations, tariff uncertainty, and geopolitical oil-risk. Key risks include sticky inflation delaying Fed easing, tariff developments, and possible Middle East-driven oil spikes; however, while yields remain flat to lower, the risk‑on backdrop is likely to persist.

For a copy of this week's Doll's Deliberations, click on the following link March 2 or go to www.crossmarkglobal.com for additional insight and investment solutions.

Bob Doll recaps the week: S&P gains led by big tech and cyclical sectors, mixed sector performance, and largely favorable Q4 earnings while investors rotate away from overpriced internet names. He compares current market dynamics to 1999–2000 but notes the broader market’s appetite remains supported by corporate profits and accommodative financial conditions.

The outlook stresses sticky inflation, potential future rate and yield increases, and tight corporate credit spreads—factors that warrant caution but do not yet signal a broad-based bear market. Investors should stay watchful but not prematurely bearish.

For a copy of this week's Doll's Deliberations click on the following link February 23 or go to www.crossmarkglobal.com for additional insight and investment solutions.