The REAL risk of a record stock market! | Kevin Gordon

Kevin Gordon is the Head of Macro Research and Strategy for the Schwab Center for Financial Research. He joins Phil Rosen on Full Signal to discuss the top-heavy stock market, record-breaking earnings, the 1998-like chip boom, and the discrepancies between hard and soft data.

This episode is sponsored by Public: https://public.com/openingbell

Subscribe to Opening Bell Daily: https://www.openingbelldailynews.com/subscribe

Follow Phil on X: https://x.com/philrosenn

Follow Phil on LinkedIn: https://www.linkedin.com/in/philrosen/

Timestamps:

0:00 - Top-heavy stock market

2:19 - 1973 breadth levels

5:00 - Tech concentration

7:22 - Mag 7 vs S&P 493 convergence trade

9:38 - AI productivity and the missing hiring boom

13:46 - Valuations are bad for market timing

17:02 - Dot-com comparisons

21:05 - Penalty for missing earnings

25:27 - Semis rally like 1998

28:00 - Hard data vs soft data

Disclosure: Brokerage services provided by Open to the Public Investing Inc, member FINRA & SIPC. Investing involves risk. Generated Assets is an interactive analysis tool by Public Advisors. Output is for informational purposes only and is not an investment recommendation or advice. See disclosures at public.com/disclosures/ga. See terms of Match Program at https://public.com/disclosures/matchprogram Matched funds must remain in your account for at least 5 years. Match rate and other terms are subject to change at any time.

#podcast #investing #markets #macro #stocks #bitcoin #fed