Weekly Strategy Perspectives - All Clear – Or Eye of the Storm?

Week Ending 08-08-2025. The Through Line: Equity markets have largely been signaling sunny skies ahead – even though recent economic data hint clouds may be gathering. It’s a delicate dance between macro news that has begun to track softer than projected and micro news, which is more energetic. History tells us a bit of murkiness is not unusual while consumers, businesses and policymakers adjust to a markedly altered policy landscape. We expect more clarity as the year draws to a close and market focus turns to enhanced capital spending and a Federal Reserve that has resumed cutting interest rates.