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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insights 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.
insights 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.
volunteer_activism 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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Show from 05/02/25
Host Jeremy Schwartz and Professor Siegel break down the week’s economic headlines, highlighting resilient market behavior amid ongoing tariff concerns. The Professor points to mixed signals from earnings reports and the labor market, questions surrounding Q1 GDP contraction, and a lack of visible inflationary effects from tariffs thus far. (18:21) Jeremy continues the conversation with colleagues Sam Rines, Jeff Weninger, and Chris Gannatti. They explore how consumer staples companies are adjusting guidance amid pricing pressures, and how the broader market is reacting to headlines about trade deals, particularly with China and India. The group also dives into AI infrastructure investment, rotation beyond the Magnificent Seven, and potential catalysts for international equity markets, including Europe and India.
Guest: Samuel Rines is a Macro Strategist at WisdomTree, where he extends the firm's custom model portfolio management capabilities. Before joining WisdomTree in 2024, he was the Managing Director at CORBU, LLC, leading the PolyMacro advisory product.
Christopher Gannatti began at WisdomTree as a Research Analyst in December 2010, working directly with Jeremy Schwartz, CFA®, Director of Research. In January of 2014, he was promoted to Associate Director of Research where he was responsible to lead different groups of analysts and strategists within the broader Research team at WisdomTree. In February of 2018, Christopher was promoted to Head of Research, Europe, where he was based out of WisdomTree’s London office and was responsible for the full WisdomTree research effort within the European market, as well as supporting the UCITs platform globally. In November 2021, Christopher was promoted to Global Head of Research, now responsible for numerous communications on investment strategy globally, particularly in the thematic equity space
Follow Sam Rines on X: https://x.com/SamuelRines
Follow Chri Gannatti on X: https://x.com/SamuelRines
Wisdom Tree: https://www.wisdomtree.com/investments