About this episode
The big things you need to know: First, Small Caps are retesting their relative low vs. Large Caps once again, as Fed rate cut optimism has faded once again. We remain neutral Small vs. Large for now. Second, investor sentiment has almost returned to the highs in place to start the year (as well as the summer of 2023) on the AAII survey, reinforcing our neutral stance on the broader US equity market for now. Third, our S&P 500 valuation model continues to suggest that the broader US equity market is fairly valued, with some modest downside risk if current inflation, interest rate, and Fed assumptions end up being too rosy. For a material move higher in the market by year-end to be justified on the math, we think investors will need to start focusing on the outlook for 2025, where visibility still seems a bit limited.
Get every episode summarized
Each time RBC's Markets in Motion publishes, we email you a written briefing from the transcript — the topics, who appeared, and any specific claims, with the ad reads skipped.
Email me new episodesFree for 3 shows. No card needed.
Hosts & guests
No transcript yet
This episode has not been transcribed. Request it and it moves to the front of the queue.
More episodes
More from RBC's Markets in Motion
Baking in a Two-Speed Economy & EPS Backdrop into Our S&P 500 Forecast
RBC's Markets in Motion
Taking The Stock Market’s Temperature, Takeaways from an Avalanche of Earnings
RBC's Markets in Motion
Resilience With a Dose of Caution
RBC's Markets in Motion
April 2026 Global Analyst Survey Results - Constructive, Aside From The War
RBC's Markets in Motion