Kathy and Liz Ann discuss recent events in the market, including fluctuations in the equity market, a global tech outage, and the potential for rate cuts by the Fed. They also provide insights for investors, such as focusing on higher-quality small-cap stocks and the importance of rebalancing.

Liz Ann interviews Ed Hyman, chairman of Evercore ISI and vice chairman of Evercore overall. They discuss the current economic cycle and its unique characteristics. Ed and Liz Ann touch on topics such as the impact of the pandemic, inflation, the Federal Reserve's tightening policy, and the health of the consumer. They also explore the state of the stock market, the concentration of mega-cap stocks, and the potential for a market rotation. The conversation concludes with a discussion on the future of the U.S. economy and reasons for optimism.

Finally, Kathy and Liz Ann provide their outlook for the next week's economic data and the need for the Fed to closely monitor the job market.

On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting.

If you enjoy the show, please leave a rating or review on Apple Podcasts.

Important Disclosures

The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.

All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed.

Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.

All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.

Investing involves risk, including loss of principal.

Diversification and asset allocation strategies do not ensure a profit and cannot protect against losses in a declining market.

International investments involve additional risks, which include differences in financial accounting standards, currency fluctuations, geopolitical risk, foreign taxes and regulations, and the potential for illiquid markets. Investing in emerging markets may accentuate these risks.

Small-cap stocks are subject to greater volatility than those in other asset categories.

The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.

Rebalancing does not protect against losses or guarantee that an investor’s goal will be met. Rebalancing may cause investors to incur transaction costs and, when a non-retirement account is rebalanced, taxable events may be created that may affect your tax liability.

Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.

Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.

The comments, views, and opinions expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles Schwab.

Past performance is no guarantee of future results and the opinions presented cannot be viewed as an indicator of future performance.

Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions.

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