Bullish Markets and Bright Nights

Tom:

Welcome to our bi-weekly commentary. I'm joined by my partners, Kelly and Alex. Let’s start with the markets. Both stock and bond markets are performing well at the moment. Our colleagues at Riverfront remind us of three tactical rules for short-term guidance:

1. Don’t fight the Fed – The Fed is currently easing interest rates, which supports the stock market.
2.  Don’t fight the trend – U.S. stocks continue to hit new all-time highs.
3. Beware of the crowd at extremes – Market sentiment is currently neutral.

Overall, short-term indicators appear bullish.

With that, I’ll turn it over to Alex

Alex: 

Thanks, Tom. It’s a relatively quiet period for market news, which has me thinking about what’s ahead. One key issue is the potential government shutdown. While not new, the deadline is approaching amid a congressional stalemate.

Federal funding is set to expire at 11:59 PM ET on September 30. Without a continuing resolution or a full-year spending bill, the government will shut down on October 1. The White House has already directed agencies to prepare for layoffs. Essential services like air travel and Social Security will continue, though many administrative functions may be disrupted.

In terms of market impact, a prolonged shutdown could delay key economic data releases—such as jobs and inflation reports—potentially leaving the Federal Reserve “flying blind” on interest rate decisions.

Kelly, you're up.

Kelly:

Thanks, Alex. Last night, we participated in our fourth annual Light the Night event. We're incredibly grateful for your support and generosity in raising funds for Blood Cancers United. Your contributions continue to inspire us and drive meaningful progress in the fight against blood cancers.

Thanks to you, we’re advancing hope, healing, and impact. We couldn’t have done it without you.

SAVE THE DATE: OCTOBER 29TH 12:00 MT

Join us for the final Experts Unplugged of the year, featuring Mark Keller, CEO & CIO of Confluence Investment Management. Mark will break down the latest market and economic trends and share his perspective on what’s ahead in 2026.

Details and registration coming soon.