What's Next For Markets
Michael Kantrowitz
When it comes to equity markets, there is a seller for every buyer. But how do you know which side of the trade to be on? Macro trends explain 70% of stock movements so understanding the macro backdrop is essential. Join Michael Kantrowitz, No. 1 ranked* Wall Street investment strategist, and the rest of the portfolio strategy & quantitative research team at Piper Sandler as they discuss current macro trends and what’s next for markets. Michael, Stephen, Emily, Joe and Dan have been working together for over 15 years. They pride themselves on their knowledge of financial market history while offering value added research and time-saving resources to their clients. The team utilizes the H.O.P.E. framework (Housing, Orders, Profits & Employment), a proven business cycle analysis to guide listeners through investment decisions and manage risk/reward in global equity markets. When they aren’t advising the best and brightest on Wall Street, they share bad taste in movies and good taste in cuisine. For more information on the podcast and the team visit whatsnextformarkets.com
Episodes
Mentioned books
Apr 13, 2025 • 43min
The Wisdom of Staying Disciplined: Fidelity’s Jurrien Timmer on Market Cycles
In this episode, we’re joined by Jurrien Timmer, Director of Global Macro at Fidelity Investments, for a wide-ranging conversation on market cycles, long-term investing, and the shifting dynamics in the macro landscape.Jurrien shares how his background in technical analysis has evolved into a storytelling approach to macro strategy. We dive into:The interplay between technicals and macro dataWhy market signals matter more than hard predictionsHow Jurrien defines and interprets cycles — and what might be different this timeHow he integrates behavioral finance into his frameworkThe risks and opportunities he’s watching in 2025Whether you're an investor navigating uncertainty or a macro enthusiast trying to connect the dots, this episode delivers timeless perspective and practical insights from one of Fidelity's most respected voices.Connect with Jurrien Timmer:X (Twitter): @TimmerFidelity••LinkedIn: Jurrien Timmer
Apr 6, 2025 • 18min
Markets Are Tariffied; What Could Go Right?!?
In this episode of 'What's Next for Markets', we discuss the recent tumultuous week for markets in the wake tariff announcements. We will cover our initial reaction to the moves in the market along with the emerging macro and earnings risks. The episode touches on market sentiment, valuation metrics, and historical parallels. Importantly, in today’s episode we look beyond the obvious bearish narrative to what could go right from here.
Mar 30, 2025 • 33min
Dissecting the Consumer With Piper Sandler’s Peter Keith
How resilient is the U.S. consumer? In today’s episode of What’s Next For Markets we speak with a 20-year veteran on Wall Street, senior research analyst, Peter Keith who covers consumer stocks in the hardline and breadlines industries at Piper Sandler. In this insightful conversation we explore consumer behavior through the lens of Peter’s proprietary mattress sales index and its implications for the broader economic landscape. The discussion highlights key retailers such as Home Depot, Lowe’s, and Wayfair as bellwethers of market trends in housing and sheds light on the challenges and opportunities in the market. The discussion further explores the impact of tariffs on the consumer and which retailers are most at risk.
Mar 23, 2025 • 28min
Macro Collides With Micro: Will Earnings Bifurcation Continue?
In this episode, we discuss the significant bifurcation seen in economic and company earnings data over the past few years. Why have some companies excel in this environment, while others struggle? Join us, as we delve into the factors driving this divergence, from the zero interest rate policy post-GFC to the present-day tariff uncertainty. The episode covers the impact of housing on the economy, the role of interest rates, and the ongoing struggles within small caps and key investment strategies we think are best positioned for the road ahead.To see charts from today's episode visit whatsnextformarkets.com.
Mar 15, 2025 • 28min
Managing Risk With Danny Kirsch, Piper Sandler’s Head Of Options Strategy And Trading
Danny Kirsch, Head of Options Strategy & Trading at Piper Sandler, shares his expertise on navigating the recent stock market corrections. He discusses how high retail sentiment affects trading strategies and the nuanced role of options in current volatility. The conversation highlights opportunities in U.S. equities, contrasting market dynamics in the U.S. with those in Europe and China. Kirsch also emphasizes strategic positioning and effective hedging techniques, providing listeners with valuable insights into managing market risks and seizing potential investments.
9 snips
Mar 9, 2025 • 28min
When Will The Market Bottom?
Uncertainty is taking center stage in the stock market, with fluctuating economic indicators and investor sentiment at play. The discussion highlights concerns of institutional clients about adjusting investment strategies in a bearish environment. Key factors influencing market declines, such as policy uncertainty and technical indicators, are analyzed. Complex economic challenges, including rising tariffs and recession fears, are dissected, while strategies for navigating volatility emphasize the importance of prioritizing quality and stability in investment choices.
Mar 2, 2025 • 37min
A.I. & NVDA With Piper Sandler’s Semis Analyst Harsh Kumar
Join us as we discuss A.I. & NVDA with Piper Sandler’s Semis Analyst Harsh Kumar. Harsh has covered the semiconductor industry since the mid-1990s. Please see our episode notes on our website whatsnextformarkets.com for charts discussed in today’s show.
Feb 23, 2025 • 25min
Why Do Markets Fall?
Join us as we discuss why markets fall. In today's show, we look at all the 10% or more S&P 500 market corrections over the last 60 years. Please see our episode notes on our website whatsnextformarkets.com for charts discussed in today’s show.
Feb 15, 2025 • 20min
H.O.P.E. Update with Adam Taggart from Thoughtful Money
Join us as we discus our H.O.P.E. framework. This episode is an excerpt from an interview with Adam Taggart from Thoughtful Money. The full interview is available on the Thoughtful Money Youtube channel.
Feb 9, 2025 • 22min
Are PMIs Broken Or Misunderstood?
Join us as we discuss the importance of monitoring Purchasing Managers' Index (PMI) data in 2025.
