Quinlan: It’s scary how much this economy has a mind of its own

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Joseph Quinlan 9.0

Quinlan: It’s scary how much this economy has a mind of its own

ndx

We think we're in the early innings of an uptrend here in the United States economic growth, earnings momentum that carries forward into 2026. Strong earnings and economic expansion along with anticipated Fed rate cuts underpin the expectation of a continued upward trend for US equities.

9/3/2025 5:31:38 PM	short term up	5 days later	+0.88%	+0.88%

All right, let's start with your word of the day. It's scary. What's scary right now?

Frank
Interviewee

Not Halloween, but how well US companies have done despite many headwinds this year. The economy continues to expand and earnings keep coming in better than expected.
We heard from Larry Fink saying major US investors are overweight US equities, they believe it's the place to be for the next year and a half or so. Do you agree?

Frank
Interviewee

Yes, the core portfolio should be in and around the US. Earnings momentum is better than expected, and economic growth is in early innings up to 2026. So you want to be invested here at home.
What about tariffs and risks? Could tariffs derail the Fed's plans or the rally?

Frank
Interviewee

I don't think so. Tariffs are being offset or mitigated; the tariff trade has faded lately. We still expect three rate cuts in 2026.
United Health reported strong earnings and raised its outlook. Your take?

Frank
Interviewee

Healthcare has quality companies that should be in portfolios. The earnings beat fits the theme for Q3 earnings.
Your pick today is consumer discretionary. Why that sector?

Frank
Interviewee

The US consumer is powering ahead with strong holiday spending and many events next year. There is a lot of upside in consumer discretionary stocks.

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