S- The S&P 500 index is currently trading at $5,117.60, with a 3.45% decrease from its previous close. - The Nasdaq index is trading at $17,640.80, with a 3.71% decrease from its previous close. - U.S. equities navigated significant market events recently, with investors looking toward Europe for potential opportunities. Economic Trends - Tariff policies have injected downside risks into favorable growth, but areas of opportunity may exist. - The U.S. economy is experiencing slower midcycle growth, market volatility, and policy uncertainty, making a case for patience, discipline, and portfolio diversification. - China's economic strategy reflects a more fragmented global economy, with investors surveying options at home and abroad

• Investor Insights - Diversification across regions and market capitalizations is key for investors. - Investors should keep an eye on big-picture trends to navigate short-term shifts like lower equity risk premium and tariff impacts. - Europe's rebound could be good news for U.S. sectors, while economic entanglements make the investment case for China a challenge
• Market Outlook - History suggests the third year of a bull market may be choppier, but it's uncertain what the future holds. - Short-term selling by investors could drive long-term valuations. - Market expansion depends on balanced growth, economic growth, inflation, and earnings, as well as the health of U.S. consumers