From Trump tariffs to AI-fueled gains to talk of firing Fed Chair Powell—it’s been a wild mix of headlines. So, where does that leave the market?

 

We’re often asked: Is the stock market too expensive right now?

At ~22.5x forward earnings, valuations are undeniably elevated by historical standards.

But context matters.

 

As Lizzie shared in her Fox interview with Charles Payne, this valuation can be justified by three powerful forces shaping the road ahead:

1. We’re in the early stages of a game-changing AI revolution
2. The U.S. economy and labor market remain surprisingly resilient
3. Pro-growth policies from the “Big Beautiful Bill” are creating tailwinds

 

Yes, tariffs pose a real risk—but history shows that strong companies adapt. We believe earnings growth will continue.

Don’t get lost in the noise. Focus on the fundamentals.