Closing Bell Closing Bell Overtime: Retail Check In, Consumer Strength, and a Bet on UNH’s Comeback 05/26/25
May 16, 2025
In this lively discussion, Keith Lerner, Co-Chief Investment Officer at Truist Wealth, and Mike Santoli, Senior Markets Commentator, dive into the resilient consumer landscape and retail earnings amidst macroeconomic shifts. They explore how retail investors are bravely buying the dip despite stock fluctuations. The conversation highlights the potential comeback of UnitedHealth, amidst chatter about legislative implications on estate taxes and insights into the booming tech sector driven by AI.
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Tech & AI Drive Market Optimism
- The core story driving the market is the resilience of tech and AI spending despite tariff uncertainty. - Tech and communications sectors represent 40% of the market and continue to see higher forward earnings estimates.
Fiscal Expansion Beats Expectations
- Recent policy shifts favor expansionary fiscal measures over contractionary ones. - This radical change has not yet been fully priced into bond market reactions.
Retail Investors Fuel Gains
- Retail investors have driven outsized market gains, with participation hitting a record high. - Recently, they are shifting buying preference from single stocks to ETFs, signaling cautious profit-taking.