Keith Lerner is bullish on US equities, citing AI as the dominant theme driving 70% of S&P gains. He sees the bull market as intact despite concentration risks, with record highs across multiple indices. He favors US and emerging markets over developed Europe due to energy and growth concerns.
Yields
implicit
Oil
Metals
USD
Truist
7.0
Commercial Bank
Keith Lerner 8.5
Commercial Bank
Keith Lerner 8.5
6/1/2026 2:25:48 PM
ndx
Lerner emphasizes AI as the dominant theme driving 70% of S&P gains, with tech leading. He sees the bull market continuing with record highs, implying a positive outlook for NDX.
rut
Lerner notes small caps and equal-weight index are at record highs, and small-cap tech is up 50%, but only 60% of stocks are up, suggesting cautious optimism for RUT.
Pascal Cagni highlights France's success in attracting over €93 billion in foreign investments, including a record €45 billion from SoftBank for AI data centers. He emphasizes France's nuclear energy advantage, AI as a chance to boost productivity and growth, and relative protection from inflation due to competitive energy prices.
Yields
NDX
RUT
implicit
Metals
USD
Business France
2.5
Other
Pascal Cagni 7.5
Other
Pascal Cagni 7.5
6/1/2026 2:25:48 PM
wti
Cagni notes France is somewhat protected from energy price spikes due to nuclear power, implying oil price volatility is a concern but not directly impacting France's outlook.
Will Kennedy explains that the oil market has been pricing in a resolution to the Iran conflict, keeping prices subdued despite geopolitical tensions. He notes that a reopening of the Strait of Hormuz would be a slow process taking weeks to months to unwind impacts.
Yields
NDX
RUT
explicit
Metals
USD
Bloomberg
5.5
Financial Media
Will Kennedy 4.0
Financial Media
Will Kennedy 4.0
6/1/2026 2:25:48 PM
wti
Market has been pricing in a resolution... prices are low by the standards of what we've seen during this conflict.