Behind the Markets Podcast

From Panic to Pop: Are Investors Still Too Bearish

May 2, 2025
Sam Rines, a Macro Strategist at WisdomTree, joins Jeff Weninger and Chris Gannatti to discuss resilient market behavior amidst tariff worries. They highlight how consumer staples are adapting to pricing pressures and the fluctuating sentiment toward tech earnings driven by AI efficiencies. The conversation explores international market opportunities, particularly in India and Europe, while maintaining a cautiously optimistic view on the broader economic outlook. They also tackle the implications of mixed signals from economic data and evolving trade agreements.
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INSIGHT

Tariffs' Delayed Market Impact

  • Tariffs' impact is not yet visible in first-quarter earnings except for some forward guidance cuts.
  • The actual cost impact on companies like General Motors is substantial but largely unacknowledged yet.
INSIGHT

Market Gains Fueled By Tailwinds

  • The stock market recovered half its losses partly due to a falling dollar benefiting American companies' international profits.
  • Market expects tariff reductions soon, reducing downside risks and discouraging short positions.
ADVICE

Monitor May For Tariff Effects

  • Watch for tariff effects to emerge in consumer prices starting in May, which may affect consumer behavior.
  • Monitor upcoming jobs reports for potential early signs of tariff-driven economic impact.
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