Bob Doll reviews recent market gains and the drivers behind them: optimism about a temporary labor slowdown, expectations of Fed easing, and strong corporate profits—especially among mega-cap tech companies—while warning that equity valuations are already elevated.

He recommends a cautious stance: prefer equities over bonds on a 6–12 month horizon but keep a neutral overall equity weight, modestly underweight U.S. exposure and overweight emerging markets, the euro area, and Japan, noting the main risk is a sudden rise in bond yields if inflation stays sticky.

For a copy of this week's Doll's Deliberations click on the following link October 6 or go to www.crossmarkglobal.com

for additional insight and investment solutions.

Bob Doll reviews the latest market action, noting a weekly pullback despite strong rallies and top-performing sectors like energy and utilities.

He argues that accommodative central banks and rising corporate profits have kept risk assets elevated, while stretched valuations, rising gold, and high AI stock multiples create vulnerabilities.

Ten key takeaways cover GDP forecasts, labor market cracks, margins and valuation metrics, and the conditions that could reverse the trend — notably higher bond yields or disappointing economic and earnings growth.

For a copy of this week's Doll's Deliberations click on the following link September 29 or go to www.crossmarkglobal.com for additional insight and investment solutions.

Stocks extended gains after the Fed’s 25bp ‘risk-management’ rate cut, with major averages and sectors like tech and communication services hitting new highs. Economic growth has cooled but is not recessionary, while inflation remains stickier than policymakers would like.

Monetary conditions are becoming more accommodative, supporting asset prices for now, but rich valuations and the prospect of a renewed rise in bond yields pose downside risks if inflation or policy expectations shift.

For a copy of this week's Doll's Deliberation click on the following link September 22 or go to www.crossmarkglobal.com for additional insight and investment solutions.