The Morning Filter

Dave Sekera, Morningstar's Chief U.S. Market Strategist, shares insightful stock analysis and investment philosophy. He reflects on the importance of reviewing past stock picks and the lessons learned from wins and losses. Dave discusses several companies, including Baxter's challenges, Alphabet’s strong fundamentals due to AI innovations, and AMD’s strategic partnerships. He wraps up by highlighting four undervalued stocks for 2026: Biogen, Microsoft, LPL Financial, and Devon Energy, showcasing their potential for future gains.

On this week’s episode of The Morning Filter podcast, Dave Sekera and Susan Dziubinski discuss what’s next after the Federal Reserves 25-basis-point interest rate cut and which economic reports could move the market this week. Tune in to find out why to keep an eye on the earnings reports from Micron Technology MU, FedEx FDX, and Darden Restaurants DRI and whether Marvell Technology MRVL remains a stock to buy after a tough week. They unpack new earnings reports from Oracle ORCL, Adobe ADBE, and Costco COST, among others. And this week’s picks are stocks to put on a watch list to buy on weakness. Episode Highlights 00:00 Welcome 01:07 Fed Meeting Recap 04:35 On Radar: Economic Reports, Earnings 12:05 Updates on ORCL, MRVL, ADBE, COST 29:00 Stocks to Buy on Weakness Read about topics from this episode. December 2025 Stock Market Outlook: Where We See Investment OpportunitiesRead Dave’s complete archive. Got a question for Dave? Send it to themorningfilter@morningstar.com. Follow us on social media.Dave Sekera on X: @MstarMarketsDave Sekera on LinkedIn: https://www.linkedin.com/in/davesekeraFacebook: https://www.facebook.com/MorningstarInc/X: https://x.com/MorningstarIncInstagram: https://www.instagram.com/morningstarinc/?hl=enLinkedIn: https://www.linkedin.com/company/morningstar/posts/?feedView=all  Viewers who’d like more information about any of the stocks Dave talked about today can visit Morningstar.com for more details. Read more from Susan Dziubinski and Dave Sekera.Subscribe to The Morning Filter to get notified when we post. We’ll see you next Monday! Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Explore the potential for a Federal Reserve rate cut and its implications. Hear why Costco, Campbell's, and Adobe are capturing attention with their latest earnings. Dive into the cybersecurity landscape as top contenders like Zscaler and CrowdStrike are evaluated. Discover Marvell Technology's promising AI positioning and Salesforce's soaring revenue powered by AI. Get insights on market valuations, small-cap strategies, and the merits of high-quality wide-moat stocks. Plus, catch the latest trends from popular retailers and investment allocation tips for 2026!

Dan Lefkovitz, a Morningstar Index strategist and dividend investing expert, shares insights into the current landscape of dividend stocks. He discusses why U.S. dividend stocks have lagged while international ones have thrived, attributing it to market dynamics and the stock buyback boom. Listeners learn to identify potential dividend cuts using key metrics and explore undervalued stock picks like Merck and Pepsi. Lefkovitz also outlines why dividend growth investing is often undervalued and predicts a favorable outlook for dividends in 2026.

This week, the discussion dives into the unlikely Fed rate cut in December and the mixed retail earnings from giants like Walmart. The hosts analyze Nvidia's impressive growth but the market's unexpected sell-off. They tackle intriguing audience questions on AI and lithium stocks. In a compelling segment, six overvalued stocks are highlighted, including Wingstop and Church & Dwight, urging listeners to consider profit-taking. It's an insightful take on navigating today’s unpredictable market!

Explore the intriguing world of AI investing with insights on Nvidia's earnings and market expectations. Discover the potential of Advanced Micro Devices and the details behind Palo Alto Networks' performance. Dive into unconventional AI stocks like Adobe and Cognizant, revealed as surprising investment opportunities. The hosts discuss major players such as Microsoft and Alphabet, while also predicting the impact of AI on energy demand with Baker Hughes. Tune in for expert analysis and investment strategies!

In this insightful discussion, Seth Goldstein, a senior analyst at Morningstar, dives deep into FMC's challenges, highlighting the impact of inventory destocking and patent losses on its recent financial performance. He details why FMC's dividend cut and negative cash flow have shaken investor confidence. Seth outlines potential paths for recovery through new product launches while addressing the risks posed by high debt levels. They also explore whether the U.S. stock market is overvalued and identify undervalued sectors ripe for investment.

Dive into the insights on the Federal Reserve's potential interest rate decisions and Nvidia's remarkable $5 trillion market cap. Explore essential earnings reports from tech giants like AMD and Qualcomm, along with performance highlights from Microsoft and Apple, which have seen significant fair value increases. The hosts also dissect Meta's heavy AI investments and recommend which stocks might be worth selling, like Citigroup, while suggesting buys such as Alphabet and Salesforce. Tune in for strategies, forecasts, and market projections!

This week, the hosts dive into the upcoming CPI report and its implications for the Fed's rate decision. They highlight important earnings expectations from Tesla and Netflix, and evaluate bank earnings alongside potential crises for regional banks. Topics include Taiwan Semiconductor's appeal post-news and insurance stocks after recent pullbacks. They also share top stock picks just in time for Halloween, mixing finance with fun by suggesting seasonal themed cocktails and AI-generated recipes.

Dive into the week’s financial landscape as market experts discuss expectations for the upcoming CPI report and its implications for Fed rate decisions. Key earnings from Tesla and Netflix are scrutinized, highlighting potential growth slowdowns. The duo tackles regional banks facing loan crises while debating the attractiveness of tech stocks like Taiwan Semiconductor and Salesforce. Plus, insights on undervalued stocks and strategic buys before the anticipated market stall keep listeners informed and engaged.